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Insurance News 06/2011



CSC Awarded FEMA Contract for Full Flood Insurance Services
CSC today announced that the U.S. Federal Emergency Management Agency has awarded the company the National Flood Insurance Program Direct Servicing Agent contract. The NFIP offers property owners in participating communities an insurance alternative to disaster assistance to address the escalating costs of repairing damage to buildings and their contents caused by flood.

OneBeacon Professional Insurance's Molitano to Speak at Cyber Risk & Privacy Liability Forum
OneBeacon Professional Insurance , a member of OneBeacon Insurance Group , today announced that David Molitano, Vice President of its Content, Technology and Services Liability Division, will be a featured presenter at the second annual NetDiligence® Cyber Risk & Privacy Liability Forum on June 10, in Philadelphia, PA.

How to cut your car insurance costs
If you're looking for clues about what impacts your car insurance rates, check in the mirror — it's mostly about you. And while there are some parts of your personal profile that you can't change, for many of the items that affect your premiums, you're in the driver’s seat.

ING Insurance U.S. Names Maliz E. Beams as CEO of Retirement
ING Insurance U.S. announced today that it has appointed Maliz E. Beams as CEO of ING Retirement, overseeing ING's industry-leading employer-sponsored retirement plan business, ING Retirement Services, and its growing customer-focused retail retirement business, ING Individual Retirement.

AAA Insurance iPhone App Provides Step-by-Step Guidance Following a Traffic Crash
AAA's fourth free mobile app helps drivers through stressful process of gathering information and documenting a traffic collision

Lexington Insurance Company Launches Twitter Campaign to Support Hurricane Readiness and Recovery
Lexington Insurance Company, a Chartis company, is inviting policyholders, brokers and others to follow the company on Twitter for timely information on tropical storm conditions, pre-storm preparation and post-event recovery this hurricane season.

Nationwide Insurance Hiring Agents, Sales Professionals in Phoenix
Nationwide Mutual Insurance Company is looking for experienced sales professionals to fill agency positions in the Phoenix, Mesa and Scottsdale areas. The company has plans to hire 12 new Nationwide agents in 2011 to serve the needs of customers in communities throughout Arizona.

Natural Disasters Batter Insurance Industry
Hurricanes, flooding and winter storms have pushed insurance damage estimates into the billions of dollars.

NC House Approves New Rules to Benefit Insurance Companies
Republican-Led Vote on HB542 a Boon to Corporations and Wrong-Doers, a Danger to Consumers

Digital Insurance Appoints Susan Thayer as VP of Client Services
Digital Insurance Inc. , the nation's leading employee benefits agency specializing in insurance for small businesses and mid-sized companies, is expanding its operations team by adding Susan Thayer as vice president of client services.

SNL Financial Ranks American Excess Insurance Exchange, RRG Among Top 10 Best Performing Midsized Commercial Insurance ...
American Excess Insurance Exchange , Risk Retention Group has been ranked among the top 10 best performing midsized commercial insurance companies of 2010 by SNL Financial.

Insurance Department: Filing Repeated Storm Damage Claims Can Affect Premium Rates
HARRISBURG, Pa., June 2, 2011 /PRNewswire-USNewswire/ -- After a series of severe storms have left many Pennsylvanians coping with property damage, Insurance Commissioner Michael F. Consedine is reminding consumers to take care to avoid being penalized for filing multiple insurance claims in a short period of time.

Insurance Advice For Tornado Victims
With tornado damage covered by homeowners' insurance, the Patrick-Murray Administrations Division of Insurance offered tips on the best way to file a claim with an insurance company to families who suffered damage in Wednesday's tornadoes and storms.

Insurance covers tornado, wind damage
BOSTON - With tornado damage covered by homeowners’ insurance, the Patrick-Murray Administration’s Division of Insurance is offering tips on the best way to file a claim with an insurance company to families who suffered damage in yesterday’s tornadoes and storms.

XL Insurance's Environmental Group Unveils New Contractor's Protective Indemnity Coverage for Mid-Sized Contractors
XL Insurance, the global underwriting operations of XL Group , today announced new Contractor's Protective Indemnity coverage for the construction industry. Â This new coverage provides an additional layer of insurance protection to contractors working on design/build projects when their architect/engineer's limits are inadequate or eroded.

Eastern Insurance Holdings, Inc. Will Meet With Investors at Macquarie Capital Conference
Eastern Insurance Holdings, Inc. announced today that Michael Boguski, President and Chief Executive Officer, Kevin Shook, Executive Vice President, Treasurer and Chief Financial Officer, and Robert Gilpin, Senior Vice President of Field Operations and Marketing, are scheduled to meet with investors during the Macquarie Capital Small- & Mid-Cap Conference.

California Assembly Passes Health Insurance Rate Regulation Bill 44-7
Legislation To Rein In Health Insurance Premiums Could Save Californians Billions

How much car insurance is enough?
Before buying basic coverage, consider the high liability costs of a severe car crash.

Arch Insurance Group Announces Executive Management Changes
Arch Insurance Group, a division of Arch Capital Group Ltd., announced today various executive personnel developments that have taken shape in recent weeks.

Home insurance company to fold, will cancel 9,000 policies
Argus Fire & Casualty Insurance Co. will cancel its roughly 9,000 home insurance policies within 45 days, as part of a deal to be taken over by the state on Tuesday.

New Analysis Outlines "Active Purchaser" Options for Health Insurance Exchanges
WASHINGTON, June 3, 2011 /PRNewswire-USNewswire/ -- States have more options than policymakers may realize to create health insurance exchanges that promote competitive and affordable insurance markets, according to a new white paper that addresses the issue of exchanges as "active purchasers." The paper, released today by the National Academy of Social Insurance and the Georgetown University ...

Insurance Law Podcast Examines Elimination of “Deep Pockets Rule” in Oklahoma Tort Reform Legislation
A.M. Best Co. has released the latest installment of the Insurance Law Podcast, a series that examines timely insurance issues from an attorney’s point of view.

Do Not Wait for Insurance Settlement; Apply Now for SBA Disaster Assistance
Disaster survivors should not wait to settle with their insurance company before applying for disaster loan assistance. The SBA encourages survivors of the apartment building fire in West Springfield, Massachusetts that occurred on April 30, 2011 to return their completed applications, even if they have not settled with their insurance company.

How Much Car Insurance is Enough?
Before buying basic coverage, consider the high liability costs of a severe car crash.

Eastern Insurance Holdings, Inc. Announces Quarterly Dividend
Eastern Insurance Holdings, Inc. announced today that its board of directors has authorized a $0.07 per share quarterly cash dividend on its issued and outstanding shares of common stock, payable June 30, 2011 to shareholders of record at the close of business on June 16, 2011.

Dare to compare car insurance
A FORMER NRMA insurance chief is on a mission to convince Australians they are paying far too much for car cover.

Dare to compare car insurance
A FORMER NRMA insurance chief is on a mission to convince Australians they are paying far too much for car cover.

Over A Third Of Renters Do Not Have Contents Insurance Swinton Reveal
MANCHESTER, UNITED KINGDOM--(Marketwire - 06/05/11) - Swinton Insurance is reminding UK renters about the importance of having adequate contents insurance in a rented property after it was revealed that over a third do not have any. Swinton, the UK's leading high street retailer of home insurance , surveyed 1,200 people who rent homes across the UK and found that 37% do not have any contents ...

India’s Life Insurance Corp. to Boost Investments in Stocks, Bonds by 8%
Life Insurance Corp. of India , the country’s largest money manager, plans to increase investments in stocks and bonds by about 8 percent this fiscal year as its premium collections climb.

Reportlinker Adds India Health Insurance Market
Reportlinker.com announces that a new market research report is available in its catalogue:

Oracle Insurance Announces Newest Release of Oracle Insurance Revenue Management and Billing
NASHVILLE, TN--(Marketwire - 06/06/11) - IASA Educational Conference & Business Show -- Oracle (NASDAQ: ORCL - News ) News Facts Oracle Insurance today introduced Oracle Insurance Revenue Management and Billing 2.2.3, the latest version of Oracle's modern, rules-based system for billing, payment and collections management. The newest release features functionality that helps insurers to reduce ...

Universal Insurance Holdings, Inc. Announces That American Platinum Has Received Approval of Rates
FORT LAUDERDALE, FL--(Marketwire - 06/06/11) - Universal Insurance Holdings, Inc. ("Company") (AMEX: UVE - News ) announced that its wholly owned subsidiary, American Platinum Property and Casualty Insurance Company (APPCIC), has received approval of its rate filing from the Florida Office of Insurance Regulation. APPCIC intends to write homeowners' multi-peril and inland marine insurance on ...

Wells Fargo Insurance Services Names Donna Sanford Insurance Marketing Executive for Alabama Operations and Southeast ...
Wells Fargo Insurance Services has named Donna Sanford marketing executive for its Birmingham office and Southeast Region. In her role, Sanford will be responsible marketing large account risks and developing new and existing carrier relationships.

Insurance Fraud Networks Affecting Florida Healthcare, Physicians Turn To Medicalbillersandcoders.Com For Ethical And ...
The level at which healthcare insurance fraud operates in Florida has shocked the National Health Care Anti-Fraud Association and The Department of Financial Services, a division of Insurance Fraud, that investigates frauds for all types of insurance.

Vertafore's ImageRight Customer Base Tops 600 Insurance Organizations
NASHVILLE, Tenn. and BOTHELL, Wash. -- Vertafore , a leading provider of software and information to the insurance industry, today announced that 600 insurance organizations have purchased the company's award-winning content management solution, ImageRight.

A Guide to Buying Life Insurance
Many people obtain life insurance when they first have children and then forget about it.

Loudoun Mutual Insurance Company Selects KeyMark Inc. to Implement Document Management Solution for Claims and ...
Virginia-based Loudoun Mutual Insurance Company has engaged KeyMark Inc., an award-winning document management solution provider, to engineer and implement a document management solution to gain greater efficiencies and improve processes.

Insurance Systems Inc. (ISI) Announces Integration of ISO Content With ISI Enterprise Suite
NASHVILLE, TN--(Marketwire - 06/06/11) - Insurance Systems Inc. (ISI) , a leading provider of web-based enterprise solutions for the property/casualty insurance industry, announced today at the IASA Annual Educational Conference and Business Show that the company has enrolled in ISO's Rating Service Member Program, which will integrate ISO content with the ISI Enterprise policy administration ...

Can You Sell Insurance on YouTube? [Study]
Can a Fortune 300 insurance company be successful on YouTube? And can a full-service media agency with search marketing capabilities help this kind of client be successful in social media? Yes, they can. And their search and social media case stud...

Ceridian Joins Forces with Microsoft to Provide Health Insurance Exchange Solutions
Ceridian Corporation, a leading provider of human resource, benefits administration, workforce management, payroll and health insurance exchange solutions, announced today it has signed a letter of intent with Microsoft to collaborate on providing small business exchange solutions.

Oracle Insurance Introduces Newest Version of Oracle Insurance Insbridge Rating and Underwriting
NASHVILLE, TN--(Marketwire - 06/07/11) - IASA Educational Conference & Business Show -- Oracle (NASDAQ: ORCL - News ) News Facts Oracle today announced the availability of Oracle Insurance Insbridge Rating and Underwriting 4.5, the newest version of Oracle's adaptive, enterprise solution for rating and underwriting. The latest release extends the market-leading product's capabilities to ...

Digital Insurance Expands Local Market Presence in Midwest and Southwest Through Acquisition of Established Chicago ...
Digital Insurance Inc. , the nation's leading employee benefits agency specializing in insurance for small businesses and mid-sized companies, continues to implement its aggressive growth strategy with the recent acquisition of Employee Benefits by Design in Chicago and Strategic Benefits Consultants in Scottsdale, Ariz.

Funeral Insurance: Your Final Policy
As you leave middle age behind, buying insurance to finance your funeral may seem like a no-brainer - death is inevitable, after all, and somebody will have to pay.

La Gov.'s health insurance chief resigns
The chief executive officer of the health insurance office for Louisiana employees and retirees is resigning after receiving strong criticism from lawmakers about his work to help privatize office operations.

Health Insurance Brokers Fight For Relevance
Insurance brokers are waging a campaign to exclude the sales commissions insurers pay them from the companies' administrative expenses. Though that battle may sound arcane, there's big money at stake for consumers.

Life Insurance or 529 for College Savings?
Weigh the pros and cons of using a cash value life insurance policy over a 529 plan.

La agent, 2 insurance fraud investigators dead
An insurance agent who had been in trouble before fatally shot two unarmed Louisiana insurance fraud investigators trying to collect information from him and later killed himself, authorities said Tuesday.

La. insurance agent kills 2 fraud investigators
Two unarmed state investigators were killed by a troubled small-town insurance agent while paying his office a visit.

Philadelphia Insurance Chooses MarketTools CustomerSat for Its Voice of the Customer Program
MarketTools, Inc.®, the leader in software and services for enterprise feedback management and market research, today announced that Philadelphia Insurance Companies , a member of the Tokio Marine Group, has selected MarketTools CustomerSat⢠for its voice of the customer initiatives.

Texas lawmakers OK changes to hurricane insurance
Texas lawmakers approved big changes Tuesday to the insurance authority that covers coastal residents in case of a hurricane.