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Insurance News 02/2011



Long-Term Care Insurance Confusion
Long-term-care insurance is getting more complicated.

Cyclone fears drag insurance stocks down
Insurance stocks were hit hard today after the cyclone threatening North Queensland was upgraded to a category five.

Aetna pulling out of individual health insurance market in Colorado
Insurance giant Aetna is pulling out of the individual market in Colorado.

Captive insurance companies double in Delaware
The Delaware Insurance Commissioner's Office has doubled the number of captive insurance companies that operate in the state, ending the year with 96.

Health Care Reform May Provide Infertility Insurance Coverage for a Select Few
Insurance is a matured proverb i n insurance companies Health is Wealth The nearly all significant action to keep up these resources is to acquire a health insurance plan for you as well sector family.

Insurance up? Chief says you're victim of technology
Donald and Jeanette Snow recently got their annual premium statement for their homeowners insurance and were shocked to see it had tripled in recent years.

Farmers Insurance, AEG Score Big With L.A. Naming Rights Deal
Farmers Insurance and AEG picked a perfect time to gain a little extra attention for what has the po

Insurance commissioner cant stop premium increases
Clamor over an insurance company's decision to increase premiums by as much as 59 percent could lead California lawmakers to consider pre-approving such increases. Last session, a bill that would have authorized the state insurance commissioner to approve rate hikes failed by four votes in the state Senate. Almost every lawmaker representing the Inland area voted against the bill.

10 hidden home insurance credits
Don't stop at smoke detectors. These home credits can mean big savings from your insurer.

Be smart about buying cheap auto insurance
Cheap auto insurance could save you hundreds. But make sure you get what you pay for.

Deduct health insurance premium?
Thanks to the recent jobs act, sole proprietors get a break on health insurance costs.

Say Goodbye to Insurance Paperwork
Is it worth $65 per month -- or more -- to have someone else deal with your health insurance headaches?

N.L. church failure to disclose abuse 'voids' insurance
Two insurance companies say they cannot be held responsible for any financial compensation from a civil lawsuit by a man alleging he was sexually abused by a priest with the Roman Catholic Episcopal Corporation of St. John's.

WA auditor suggests ways to streamline insurance
The system that provides health insurance to Washington state's public school employees should be streamlined and standardized to make it more fair and cost effective, according to a new state auditor's report.

QBE Pays BofA $700 Million for Insurance Deal; 2010 Profit Drops
QBE Insurance Group Ltd. agreed to pay Bank of America Corp. $700 million to distribute U.S. insurance products, and said annual profit fell for a third year.

BofA agrees to sell Balboa Insurance unit to QBE
Bank of America Corp. said Thursday it is selling its Balboa Insurance Co. business to QBE Insurance Group for some $700 million in cash and unspecified future payments.

QBE Buys BofA Insurance in Bid to Reverse Profit Drop
QBE Insurance Group Ltd. agreed to buy Bank of America Corp.’s business insuring foreclosed homes as Chief Executive Officer Frank O’Halloran raises his bet U.S. premium growth will help reverse three years of profit declines.

QBE Buys BofA Insurance in Bid to Reverse Profit Drop
QBE Insurance Group Ltd. agreed to buy Bank of America Corp.’s business insuring foreclosed homes as Chief Executive Officer Frank O’Halloran raises his bet U.S. premium growth will help reverse three years of profit declines.

QBE Acquires Balboa Insurance Portfolio, Enters Into Distribution Agreement
SYDNEY -(Dow Jones)- QBE Insurance Group Ltd. (QBE.AU) said Friday it has acquired the Balboa insurance portfolio from Bank of America-Merrill Lynch (BAC) and entered into a 10-year distribution agreement for an upfront payment of US$700 million.

BofA Sells Insurance Unit It Has ‘No Reason’ to Own
Bank of America Corp., the largest U.S. lender by assets, will get at least $700 million from QBE Insurance Group Ltd. for the Balboa insurance unit, exiting the market for coverage of foreclosed homes and those with distressed buyers.

Insurance report demanded by N.B. MLAs
Liberal MLA Chris Collins is demanding the New Brunswick Insurance Board disclose a report outlining the profits reaped by insurance companies operating in the province.

Insurance commissioner issues draft guidance on legislation
SACRAMENTO – On Friday Insurance Commissioner Dave Jones released draft guidance for Senate Bill 1163.

Consumer advocate argues insurance rates are reasonable
The province's insurance advocate says the New Brunswick Insurance Board is a valuable cog in the machine that provides customers with some of the lowest rates in Canada.

Consumer advocate argues insurance rates are reasonable
The province's insurance advocate says the New Brunswick Insurance Board is a valuable cog in the machine that provides customers with some of the lowest rates in Canada.

Insurance Industry: Bursting Pipes Now A 'Catastrophe'
The extended cold snap has prompted insurance companies to call in more adjusters as thousands of pipes continue to burst across the state of Colorado.

Farm insurance fraud is cheating taxpayers out of millions
Perpetrators falsely claim weather or insects destroyed their crops and cash in on a government-backed insurance program. Some don't bother planting at all. Others sell their harvests in secret. The federal investigator took the witness stand and described the crime scene: a sprawling field clogged with boulders, native grasses and knee-high sagebrush.

Terrorism insurance market improving: Study
WASHINGTON—A government study showing that the availability and affordability of terrorism risk insurance has improved since 2006 underscores the need to keep the federal terrorism insurance backstop in place, risk managers and industry observers say.

Insurance premiums likely to rise as spate of disasters take their toll
Australians will pay significantly higher insurance premiums if the recent spate of natural disasters across the country becomes a trend.

Insurance premiums likely to rise
Australians will pay higher insurance premiums if the recent spate of natural disasters becomes a trend.

Insurance bills to rise
Australians will pay higher insurance premiums if the recent spate of natural disasters becomes a trend.

Insurance cost on the rise
First big insurer signals insurance costs will rise in the wake of floods, cyclones.

Insurance pools for schools?
State leaders who are scouring the budget for cost savings soon might have a new message for school employees: Everybody into the pool.

INSURANCE: Basic homeowners and renters policies explained
In a recent column we looked at a basic auto insurance policy. Now we turn our attention to the protection we need for where we live as a homeowner or a renter. What is in a standard homeowners insurance policy? Here's how the Insurance Information Institute explains the basic coverages: Coverage for the structure of your home. Coverage for your personal belongings. Liability protection ...

Alternatives To Mandating Insurance? Maybe
The requirement for most individuals to either have insurance or pay a penalty is frequently described as the "linchpin" of the sweeping health care law. But there may be some viable alternatives.

Insurance.com Finds Average American Pays More Than $84,000 for Car Insurance Over Lifetime
The amount of money the average American spends on car insurance over a lifetime adds up to a sizable chunk of change. Insurance.com explains what consumers are paying for, points out where they may be overpaying and provides advice on how to keep that lifetime average to a minimum. (PRWeb February 07, 2011) Read the full story at http://www.prweb.com/releases/20 ...

Deposit insurance costs climbing for big banks
Mega-banks will have to pay more for U.S. deposit insurance under a new regulation set for final approval on Monday as the government advances a boatload of financial oversight changes.

Not all insurance offers need to be in Spanish
PHOENIX -- Insurance companies don't have to make state-mandated offers of certain kinds of coverage in Spanish, even if that's the language the person speaks, the Arizona Supreme Court ruled Thursday.

Amendment to Insurance Code approved
INSURANCE CONSUMERS have to be careful on who they entrust their premium payments to, as they will be held responsible should their brokers fail to remit these payments to insurance companies.

Deposit insurance costs climbing for big banks
Mega-banks will have to pay more for U.S. deposit insurance under a new regulation set for final approval on Monday as the government advances a boatload of financial oversight changes.

Republican governors take on insurance exchanges
As Republican governors take on the U.S. healthcare reform law in courts, they are also challenging it on the administrative side, with 21 registering their discontent for insurance exchanges in a letter to U.S. Health and Human Services Secretary Kathleen Sebelius on Monday.

Action delayed on Florida property insurance bill
A Florida Senate committee delayed voting Monday on a proposed property insurance bill designed to crack down on fraudulent or excessive sinkhole claims.

Wis. Senate to take up car insurance bill
Minimum levels of car insurance that were increased two years ago would drop back down again under a bill up for a vote in the state Senate.

Aspen Insurance posts lower 4Q profit
Aspen Insurance Holdings Ltd. said Monday its profit fell sharply in the fourth quarter as the insurance provider booked higher losses and related costs.

Alternatives To Mandating Insurance? Maybe
The requirement for most individuals to either have insurance or pay a penalty is frequently described as the "linchpin" of the sweeping health care law. But there may be some viable alternatives.

Insurance scam mastermind jailed
SINGAPORE : The mastermind of several insurance scams was sentenced to 27 months' jail on Tuesday.

Health Insurance Industry Outlook - Feb. 2011
A primary focus of the health insurance industry will be medical loss ratio compliance provisions of the Health Care Reform Act which has become effective in 2011.

Wis. Senate passes lower car insurance levels
The state Senate passed bills Tuesday that would lower minimum levels of car insurance and make it more difficult to approve of sales and income tax increases.

Insurance Needs for Wealthy Grow More Complex
The economic downturn and a growing risk of lawsuits against the wealthy have increased the need for specialized coverage, insurers say.

Private Placement Insurance Is Untapped Resource for Wealthy
Even wealthy investors may be unfamiliar with private placement life insurance, which is an investment placed inside a tax-free insurance policy.

Insurance wait leaves Yasi victims homeless
Some residents in the tiny community of Silkwood are angry their insurance company has told them not to clean up after Cyclone Yasi ripped through north Queensland earlier this month.