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Insurance News 04/2011



Ark. Insurance Dept. budget passes; exchange alive
House members broke a deadlock Thursday to approve funding for the Arkansas Department of Insurance, and both legislative chambers passed the state's $4.6 billion budget just a day before the General Assembly is scheduled to complete its session.

More Insurance Deals for CSC
Computer Sciences Corp. announced that it has inked a licensing agreement with a leading life insurance carrier in Canada.

Take Advantage Of Employer-Sponsored LTC Insurance
Find out why 98% of employees are missing out on some great benefits.

Insurance chief shuts down health-care sharing ministry
State insurance commissioner Mike Kreidler has ordered a prominent health-care sharing ministry to stop operating in Washington, saying the group is doing business illegally here.

Bill would shed light on health insurance rate hikes
You pay your health insurance premiums - year after year - so shouldn't you have the right to know what's driving up the cost of medical care and coverage? State Insurance Commissioner Mike Kreidler believes you do.

Covington insurance agentâs license suspended
According to the Insurance Fraud Section of the Louisiana Department of Insurance, Melissa Ann Rouse, a Covington insurance agent has had her license suspended and was served with a cease and desist order Tuesday for alleged “misappropriation and incompetence in performing duties in relation to the business of insurance.”

Home insurance: Claim carefully
If your house is burned to the ground, go ahead and make an insurance claim. But if you try to nickle and dime your insurer, you may just be the one who gets dinged

Covington insurance agentâs license suspended
According to the Insurance Fraud Section of the Louisiana Department of Insurance, Melissa Ann Rouse, a Covington insurance agent has had her license suspended and was served with a cease and desist order Tuesday for alleged “misappropriation and incompetence in performing duties in relation to the business of insurance.”

Captive insurance industry taking off in Montana
Ten years after the Montana Legislature set out the welcome mat for an alternative kind of insurance, the industry is growing at a steady pace and adding thousands of dollars to state coffers, while burnishing Montana ’s reputation as a business-friendly state.

On the House: Landlord insurance a good idea if you rent out
I wrote about vacant-home insurance recently, in a "Home Economics" piece for the Business section. Basically, it's the type of insurance you need - with different and typically more expensive coverage - if your home will be empty longer than the period allowed under standard homeowners' policies.

On the House: Landlord insurance a good idea if you rent out
I wrote about vacant-home insurance recently, in a "Home Economics" piece for the Business section. Basically, it's the type of insurance you need - with different and typically more expensive coverage - if your home will be empty longer than the period allowed under standard homeowners' policies.

N.Y. merges oversight of insurance, banking
ALBANY, N.Y.—An agreement to merge insurance and banking regulatory authorities in New York prompted different reactions from risk managers and insurers.

Health insurance exchange dies for 2011
JACKSON - A state health insurance exchange, a rare piece of the health care reform supported by both President Barack Obama and Gov. Haley Barbour, died during the 2011 session of the Mississippi Legislature.

A shift toward smaller health insurance networks
Thousands of employers in California and nationwide are opting for 'narrow network' HMOs, which offer notable savings on insurance premiums but also offer fewer medical providers. Thousands of employers in California and across the country are slashing expensive doctors and hospitals from their insurance rosters in a move to hold down rising healthcare costs — a trend that is gaining favor with ...

Insurance scheme plan underway
In order not to jeopardise the entire integration of insurance as a key element of its health system, Qatar must ensure that all the prerequisites necessary for the launch of the health insurance are in place, the National Health Strategy suggests.

Insurance denied? File appeal
Say what you want about health care reform, but as with many other pieces of legislation that have been passed during the country’s recent economic hard times, we are getting some much-needed transparency on a number of personal finance issues.

Health insurance exchange dies for 2011
JACKSON - A state health insurance exchange, a rare piece of the health care reform supported by both President Barack Obama and Gov. Haley Barbour, died during the 2011 session of the Mississippi Legislature.

Internet Searches Help Homebuyers Trim Costs in Purchasing Title Insurance
When Tom Strange, a retired computer engineer in Henderson, Nevada, refinanced his mortgage last year, he rejected the $1,870 title insurance offered by his mortgage broker. Searching online, he cut the cost by half.

Irish Debt Insurance Costs Outperforming
Debt insurance costs for Ireland were lower Monday, outperforming the other weaker economies in the euro zone as investors continued to react positively to the stress tests for the country's banking sector.

SafeAuto Insurance Company Announces Coverage Expansion Into Virginia
SafeAuto Insurance, a leading auto insurance carrier headquartered in Columbus, Ohio, is excited to announce that it is expanding its business into the state of Virginia. With this expansion, the company now offers state minimum auto insurance to drivers in sixteen states.

Covington insurance agentâs license suspended
According to the Insurance Fraud Section of the Louisiana Department of Insurance, Melissa Ann Rouse, a Covington insurance agent has had her license suspended and was served with a cease and desist order Tuesday for alleged “misappropriation and incompetence in performing duties in relation to the business of insurance.”

First Horizon Sheds Insurance Unit
First Horizon National Corp is shedding its Insurance unit. It announced an agreement to sell First Horizon Insurance Inc. to insurer Brown & Brown Inc. through its principal subsidiary First Tennessee Bank.

Saving Money, With or Without Health Insurance
Health care reform, government-sponsored health benefits, and numerous other topics related to the health care industry are hotly debated in Washington. Regardless, the controversy over those issues doesn't ease the day-to-day expense of taking care of myself and my family. Health care isn't cheap, and it takes time to figure out ways to save money—even if you have insurance.

QBE insurance profit to grow 30%
QBE Insurance Group says insurance profit before tax should rise by at least 30 per cent in 2011 and the company will maintain or increase its dividend.

Insurance chief on Premera: 'Cruel charade on public'
The fight over an insurance transparency bill pending in the Legislature heated up last week, with Insurance Commissioner Mike Kreidler accusing Premera Blue Cross of watering down the bill with a "cruel charade on the public."

Nationwide Says Fewer Teen Drivers May Crimp Insurance-Premium Revenue
Nationwide Mutual Insurance Co., the fourth-biggest U.S. auto insurer owned by policyholders, said more parents delaying when teenagers can start driving may reduce premium revenue.

Travel insurance can give you peace of mind
A growing number of families are signing up for travel insurance to counter the unexpected costs that come with vacations such as medical evacuations, lost luggage, flight rebookings and more.

Understanding Your Home Insurance Policy
Take time to understand your policy's details. What you don't know could hurt you later.

Property insurance reform bill gains steam
A sweeping property insurance reform bill that benefits the industry is moving swiftly through the Florida Legislature.

Why you shouldn’t buy mortgage insurance
Term life insurance is a better deal than mortgage insurance offered by the banks. Here's why.

Insurance bills mean consumers pay more for less coverage
TALLAHASSEE — As property insurance lobbyists celebrated with handshakes and back-slaps, the

Bligh to name and shame insurance firms
Insurance companies which don't hire their fair share of Queensland builders for the flood and cyclone recovery effort will be named and shamed.

Alleged health-insurance scam led to millions in unpaid bills
The owner of a bankrupt rural health-insurance brokerage, which left dozens of employers and thousands of employees holding millions in unpaid medical bills, has been indicted for embezzlement, fraud and money laundering.

Fewer than 50 percent of Lafourche, Terrebonne homes have flood insurance
Houma Courier HOUMA — Fewer than 50 percent of households and businesses in Terrebonne and Lafourche parishes have flood insurance policies, according to parish officials. But parish officials say that's not enough in a community that faces flooding threats from heavy rainfall, river flooding and an increasing threat of storm surge as wetlands erode away and the Gulf of Mexico continues to march ...

Insurance Technologies Introduces Additional Companies to Their Comparative TurboRater
Insurance Technologies Corporation, a leading provider of insurance rating, agency management, and website solutions, announced the inclusion of Tejas Seguros http://www.TejasSeguros.com into the TurboRater comparative rating system. (PRWeb April 06, 2011) Read the full story at http://www.prweb.com/releases/in ...

Insurance firms must cut premium charges in rural areas: PwC
Hyderabad, Apr 6 (PTI) Insurance companies must reduce premium charges and collection costs in order to penetrate rural areas and reach people who are Below Poverty Line (BPL), PricewaterhouseCoopers (PwC) has said.PwC said this in a report released here today on health insurance in India.The report, jointly prepared by PwC India and India Health Progress - a healthcare communication consultant ...

Windows Servers Hacked at The Hartford Insurance Company
Hackers have broken into The Hartford insurance company and installed password-stealing programs on several of the company's Windows servers.

CSC Secures Insurance Contract
Computing major Computer Sciences Corporation recently announced that the Hastings Mutual Insurance Company has selected the updated version of CSC???s Insurance Industry Data Model - Hastings, Mich.

Holcim Uses Cut-Price Insurance to Tap Emerging Markets Clients
Holcim Ltd. (HOLN) , the world’s second- biggest cement maker, is teaming up with an insurance company to sell building materials and homes to Indonesians as it seeks to benefit from the future middle class in the emerging markets.

Holcim Uses Cut-Price Insurance to Tap Emerging Markets Clients
Holcim Ltd., the world’s second- biggest cement maker, is teaming up with an insurance company to sell building materials and homes to Indonesians as it seeks to benefit from the future middle class in the emerging markets.

Covington insurance agentâs license suspended
According to the Insurance Fraud Section of the Louisiana Department of Insurance, Melissa Ann Rouse, a Covington insurance agent has had her license suspended and was served with a cease and desist order Tuesday for alleged “misappropriation and incompetence in performing duties in relation to the business of insurance.”

Insurance hike stings clients
INSURERS are facing calls to detail how much their premiums are jumping when they post yearly renewal notices out to their customers.

Insurance fine print can trip you up later
When Cheryl Ellis' mother dies unexpectedly before her vacation, she's told by her insurance company to cancel her trip and that the claim will be taken care of. But it isn't -- instead, it's denied because of a pre-existing condition. But her mother died of natural causes. What now? When Cheryl Ellis' mother dies unexpectedly before her vacation, she's told by her insurance company to cancel ...

NM regulator OKs insurance company rate request
State Insurance Superintendent John Franchini has approved a double-digit rate increase for Blue Cross and Blue Shield of New Mexico.

Insurance shock for all households
The cost of insurance could spike 20 per cent as a result of the Government bailout of AMI Insurance and the mounting cost of the Canterbury earthquakes.

Insurance shock for all households
The cost of insurance could spike 20 per cent as a result of the Government bailout of AMI Insurance and the mounting cost of the Canterbury earthquakes.

There are no shortcuts with insurance
AA Insurance received a significant number of calls yesterday from people who are reviewing their insurance following recent events. One significant pattern is that they realise the low prices they may have been paying can’t continue.

Goldman bets on China insurance with $900 mln Taikang stake buy
Goldman Sachs has bought a 12 percent stake worth more than $900 million in China's Taikang Life Insurance Co Ltd, giving the Wall Street giant a foothold into the world's biggest insurance market.

Seeking an insurance solution
Despite growing concern about rising home insurance premiums in New Brunswick, a solution to the problem isn't obvious.

Sinkhole claims chip away at Fla. insurance industry; can state handle major hurricane?
TALLAHASSEE — At first it sounded like an animal scratching between the walls.