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Insurance News 10/2011



Insurance, pension funds may soon be allowed to invest in infrastructure
The long-pending demand for allowing insurance and pension funds to invest in long-term infrastructure funds is expected to be fulfilled soon. This will benefit the power sector most.

Everyone profits off force-placed insurance, except homeowner
Force-placed insurance can cost as much as 10 percent of a home's value.

The best insurance is prevention
Business insurance is a powerful safety net if you suffer a catastrophe such as a hurricane, fire, theft, vandalism, tsunami or other insured peril to your store, restaurant, factory or office. But prevention is the best insurance.

Harleysville Insurance, Nationwide to combine
Nationwide Mutual Insurance Company and Harleysville Mutual Insurance Company and Harleysville Group Inc. announced today that they have entered into a definitive agreement under which Harleysville will combine with Nationwide.

Harleysville Insurance, Nationwide to combine
Nationwide Mutual Insurance Company and Harleysville Mutual Insurance Company and Harleysville Group Inc. announced today that they have entered into a definitive agreement under which Harleysville will combine with Nationwide.

Flooding hit many hard -- flood insurance may hit them harder | Video
The first disaster for Ron Benitez was losing his DeBary home to the massive flooding caused by Tropical Storm Fay in 2008.

Family-owned insurance agencies under investigation
State audits probe group of four family-owned firms. Affordable Choice Insurance & Tax Service in Wendell, owned by Brad and Holly Cooper: 11 policyholders allegedly were overcharged by a combined $16,844.

Unemployed face few insurance options
Private insurance premiums for families rose nine percent this year, according to a report released last week.

Publicly run auto insurance costs as much as private-sector options: Study
Government-run auto-insurance schemes in three provinces continue to charge some of the highest rates in the country, according to a new study.

LexisNexis Insurance Exchange Buys MarshBerry Sales Portal
LexisNexis Risk Solutions has acquired the Sales Portal from MarshBerry, the insurance consulting and merger and acquisition advisory firm. The Sales Portal is a sales management automation tool used by larger brokerages that will now be offered by the LexisNexis …

GOP's Do-or-Die Health Insurance Mandate
One of the most controversial moments in the GOP debates occurred when Wolf Blitzer asked Congressman Ron Paul (R-TX) what should happen to a young man who chooses not to buy health insurance and then becomes gravely ill. ??Paul said that he?d advise young people to buy insurance, but then added,??"That's what freedom is all ...

HSBC Weighs Selling Non-Life Insurance Assets
HSBC Holdings Plc (HSBA) , the European bank seeking buyers for its non-life insurance assets, will consider selling regional units of the business separately, three people familiar with the matter said.

HSBC Said to Weigh Selling Non-Life Insurance Assets by Region
HSBC Holdings Plc, the European bank seeking buyers for its non-life insurance assets, will consider selling regional units of the business separately, three people familiar with the matter said.

HSBC Said to Mull Selling Non-Life Insurance Arm by Region
HSBC Holdings Plc, the European bank seeking buyers for its non-life insurance assets, will consider selling regional units of the business separately, three people familiar with the matter said.

Insurance issue snarls Bogut's Australian move
Andrew Bogut's deal to play in Australia's basketball league during the NBA lockout is in limbo due to an insurance wrangle.

When your life insurance policy won't pay
Certain factors can void a life insurance policy, or at least make it more expensive.

AXA AFFIN GENERAL INSURANCE COLLABORATES WITH CITIBANK IN THE DISTRIBUTION OF AN INTERNATIONAL HEALTH INSURANCE
KUALA LUMPUR, Oct 4 (Bernama) -- AXA Affin General Insurance Berhad and Citibankrecently entered into a partnership for the distribution of its global medicalplan known as InternationalExclusive.InternationalExclusive is the only locally licensed global health insurance planin Malaysia which was developed to suit the need for higher and extensivemedical coverage amongst Malaysians as well as ...

Insurance Agency Founder Sentenced for Fraud in D.C.
An insurance agency founder was recently placed on four years of supervised release and fined $10,000 in Washington, D.C., after earlier pleading guilty to insurance fraud, according to officials. Washington, D.C., Department of Insurance, Securities and Banking announced last week …

California Insurance Company, Sofi Insurance, Now Aids Clients in Finding Lower Rates for Health Insurance in California
Sofi Insurance, health insurance California company, is now passing on huge savings to their customers with a quick application process and instant quotes. Visit http://www.lahealthcoverage.com for more information. (PRWeb October 04, 2011) Read the full story at http://www.prweb.com/releases/he

Insurance leaves player with $30,000 bill
A FOOTBALLER who suffered a broken neck in a match has warned of the pitfalls of sports insurance after being lumped with a $30,000 medical bill.

Many 'missing travel insurance'
One in five UK holidaymakers head off on holiday without travel insurance, a survey for travel organisation Abta suggests.

Insurance Industry Stock Update - Sept. 2011
Though financials of U.S. insurance companies are still not strong enough to soak up losses from catastrophic events such as the recent Hurricane Irene, which affected a wide area of the U.S.

Insurance Industry Stock Update - Oct. 2011
Though financials of U.S. insurance companies are still not strong enough to soak up losses from catastrophic events such as the recent Hurricane Irene, which affected a wide area of the U.S.

Insurance 3 Launches Interactive Website
Insurance 3 announces the launch of a new agency website at http://www.Insurance3.com. With interactive features such as on-site glossaries, maps, driving directions, and multiple forms of contact, Insurance 3’s new website covers several types of insurance including Surety Bonds and is designed with insurance customers in mind.Dallas, TX (PRWEB) October 05, 2011 Insurance 3 has a long ...

Zacks Industry Outlook Highlights: Eastern Insurance Holdings, RLI, ProAssurance, SeaBright Holdings and Amerisafe
Zacks Industry Outlook Highlights: Eastern Insurance Holdings, RLI, ProAssurance, SeaBright Holdings and Amerisafe

Nigeria: Operators Urged to Grow Market Through Retail Insurance
Insurance managers have been advised to key into the Market Development And Restructuring Initiative (MDRI) currently being implemented by the Federal Government especially the compulsory insurance scheme aspect of the initiative to grow their market through promotion of retail insurance.

Insurance boss quizzed at floods inquiry
The boss of insurance company CGU has defended his decision to get personally involved in a disgruntled client's claim after the Queensland floods.

Would you buy health insurance from your drugstore?
Imagine walking into your corner drugstore to pick up aspirin, toothpaste and individual health insurance.

How to locate an old life insurance policy
It won't be easy finding a 40-year-old insurance policy. These few strategies might help.

This is as Cheap as Insurance Gets
Here's a breakdown of what a 24-year-old pays for state-minimum liability.

Should You Buy Supplemental Unemployment Insurance?
New product makes up the difference between your salary and state unemployment benefits.

Should You Buy Supplemental Unemployment Insurance?
The Bureau of Labor Statistics will release September unemployment numbers on Friday, and if the trend from the last several months continues, the unemployment rate will hover just over 9 percent.

Green Blog: Insurance Against the Future
As climate change alters weather patterns across the world, the insurance industry is slowly recognizing the threat that it poses to profitability.

Report: Even with a job, insurance is no longer a sure thing
Employer-based health insurance is quickly becoming a thing of the past for millions of American workers, a new report says. Workers are losing jobs that offer health insurance and getting part-time or contract jobs that make finding affordable coverage more difficult, researchers say in a report released Wednesday by the nonprofit Iowa Policy Project. "Employer-provided health insurance has ...

Insurance Website Builder Now Includes Free Report Marketing
Insurance Website Builder adds free report marketing to its online marketing solution for insurance agents. Free report marketing generates leads for an agency by providing insurance-related reports to the agency's website visitors in exchange for their contact information.Carrollton, Texas (PRWEB) October 06, 2011 Insurance Technologies Corporation (ITC) is pleased to announce the addition of ...

TEXT-S&P puts HSBC General Insurance asian subs on watch neg
(The following statement was released by the rating agency)

TEXT-S&P puts HSBC General Insurance asian subs on watch neg
(The following statement was released by the rating agency)

Namibia: Survey to Review Insurance Industry
The Insurance Institute of Namibia and the Namibia Training Authority are undertaking an "Employment, Scarce and Critical Skills survey" in support of annual skills planning and training processes within the short term insurance industry.

Insurance chief seeking second full term
BATON ROUGE — Although Insurance Commissioner Jim Donelon will need the help of voters on Oct. 22 to keep his job, it was actually the state constitution that originally elevated him to the position.

Washington Insurance Agent Who Sold Fake Policies Sentenced
An insurance agent who sold hundreds of thousands of dollars in fake business-insurance policies has been sentenced to more than two years in prison and ordered to pay back $532,659 in restitution. Brenda MacLaren-Beattie, 68, of Des Moines, Wash., was …

Attorney inspired' to run for state insurance chief
BATON ROUGE — When hurricanes Katrina and Rita pushed trouble ashore for homeowners in 2005, Donald Hodge was working as a legal and social-service advocate at Catholic Charities.

Insurance Commissioner Addresses Fire Victims’ Woes
Dave Jones and state staff members tour burned areas and hold town hall meeting.

Florida to launch its own health insurance marketplace
ORLANDO — Florida, which is fighting to overturn the federal health overhaul, is preparing to launch an insurance marketplace early next year that looks like a distant cousin of the ones being created under the federal law. Florida’s version aims to give small businesses — those with 50 or fewer employees — an online tool where they can easily shop for health plans offered in their county. The ...

Jeff's Personal Finance Basics #59 –Whole Life insurance
Whole Life Insurance Whole Life Insurance is permanent life insurance protection for consumer's entire life, usually to age 100. A Whole Life policy is contractually guaranteed not to lapse, . . .

Jeff's Personal Finance Basics #60 – Term Life insurance
Term Life insurance Term life insurance is life insurance which provides coverage at a fixed rate of payments for a limited period of time, the relevant term. After that period . . .

Do You Have Dental Insurance?
I am wondering if anyone has dental insurance and what it actually covers. After a recent dental appointment, I was discouraged about covering the costs. I did some research and discovered . . .

Insurance woes worry health care officials
Health insurance coverage in the region appears to be a double-edged sword.

150 jobs on offer at insurance firm
A health insurance firm plans to fill 150 posts at its own recruitment fair.

Insurance and Financial Communicators Association Appoints Mark Stone to Board
Insurance Insight Group’s Principal and Marketing Strategist, Mark Stone, was appointed to the IFCA board of directors at its annual meeting in Nashville this week.Park City, UT (PRWEB) October 10, 2011 Mark Stone, principal and marketing strategist at Insurance Insight Group was appointed to the Board of Directors for the Insurance and Financial Communicators Association (IFCA). Stone was ...

Do you need life insurance?
When you have a family, you want to make sure that you provide them with some protection