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Insurance News 01/2012



Can my company force me to take health insurance?
If you don't want to take the company insurance, can they make you?

What You Need To Know About COBRA Health Insurance
Need to know about COBRA? We give you the rundown.

Home insurance more accessible than some might think
After years of rising home insurance costs, particularly for Massachusetts coastal communities, an influx of new insurers and a “correction of an over-correction” are stabilizing insurance costs across the state.

Medical Protective Acquires Princeton Insurance
Medical Protective Company , a Berkshire Hathaway subsidiary, announced today that it has completed the acquisition of Princeton Insurance Company from Medical Liability Mutual Insurance Company.

Cover-All Technologies Inc. Enters Insurance Claims Solutions Marketplace with the Acquisition of BlueWave Technology
Cover-All Technologies Inc. , a Delaware corporation , today announced the acquisition of the assets of BlueWave Technology, includin

Shopping for home insurance?
BY CAROLYN LUCAS-ZENK Stephens Media The state Insurance Division released today resources intended for comparison shopping for the best property insurance rates statewide. A comprehensive list, available on the Department of Commerce and Consumer Affairs website, allows homeowners and renters to compare options offered by 14 insurance companies for the same coverage. Meanwhile, a guide explains ...

Insurance capacity shrinks after Thai floods
BANGKOK—Businesses disrupted by long-term flooding in Thailand ramped up efforts to restart production as the year began amid sharply contracted insurance capacity, higher pricing and tighter terms for the coverage that is available.

Ecclesiastical Insurance Office plc: Heating Oil Theft-A Seasonal Risk
TORONTO, ONTARIO-- - Once again, thieves have stolen heating oil from a church, this time in Atholville, New Brunswick. The thieves damaged the oil tank and siphoned off some 1,000 litres of heating oil. ...

State approves insurance-buying cooperatives
The state Division of Insurance this morning said it has certified two organizations as its first group purchasing cooperatives, in an effort to give small businesses and individuals more options for saving on health insurance by banding together to buy coverage.

Allstate (NYSE:ALL) Making Insurance Policy Update
Allstate (NYSE:ALL) has been reportedly cancelling home insurance policies which are not bundled with car insurance. Illinois based second largest personal lines insurer, Allstate (NYSE:ALL), has reportedly cancelled home insurance policies which are ...

Best’s Review Recognizes Innovative Insurance Organizations
The “Innovators Showcase,” published in the January 2012 issue of Best’s Review magazine, is a forum for recognizing forward thinking among insurance organizations.

Heffernan Portland Branch Hires Ed Lief, Vice President, Employee Benefits and Commercial Insurance
PORTLAND, Ore. , Jan. 3, 2012 /PRNewswire/ -- Heffernan Insurance Brokers, one of the largest full-service, independent insurance brokerage firms in the United States , has hired Ed Lief to join its Portland, ...

How to Do a 'Needs Analysis' Before you Buy Life Insurance
When buying life insurance, don't choose a policy before you understand the financial needs of your beneficiaries.

Home insurance rates likely to go higher
By Adam Belz, USA TODAY Homeowners insurance premiums are starting to rise after tornadoes, hail, winds and lightning slammed US insurance companies' balance sheets throughout 2011. Storms along the East Coast, tornadoes in the Southeast and in Joplin, ...

Correction -- CNinsure Launches Insurance Comparison Website (www.baoxian.com)
GUANGZHOU, China -- CNinsure Inc. ("CNinsure" or the "Company"), a leading independent insurance intermediary company operating in China, today announced a correction of a prior press ...

First insurance-buying cooperatives get state OK
By Robert Weisman Sixteen months after Governor Deval Patrick signed a law clearing the way for small businesses to band together to buy health insurance, the state Division of Insurance said yesterday it has certified two organizations as the first ...

Waco life insurance firm accused of systematic fraud
"Life Partners duped its shareholders by employing an unqualified medical doctor to assign baseless life expectancy estimates to the underlying insurance policies," said Robert Khuzami, director of the SEC's Division of Enforcement. ...

Health insurance costs set to rise
People with health insurance are likely to be hit with further hikes after the Government decided to increase the levy imposed on health insurance policies by 40 per cent with immediate effect.

With Unemployment Insurance, Is 99 Weeks the Magic Number?
Some economists believe that unemployment insurance stimulates spending because unemployed people are thought to spend most, if not all, of the money they have on hand. Some economists also suggest that unemployment insurance prolongs unemployment ...

Earthquakes prompt record insurance claims in 2011
FRANKFURT (Reuters) - Insurance industry damage claims from natural disasters like the earthquakes in Japan and New Zealand reached a record $105 billion in 2011, said Munich Re, the world's biggest reinsurer. The cost to insurers from the earthquake ...

IT contractor insurance overview
Business Insurance – Why bother? Business insurance, like many types of expenditure, is one of those items that business owners typically do not like to pay. But you must remember that sufficient insurance can be as critical to the success of your contractor business as a good product or service.

Disasters fuel insurance cost rise
THE nation's biggest car and home insurer is under renewed pressure to raise premiums after revealing it could pay an extra $100 million to insure its own book. Insurance Australia Group has declared that it expects to pay as much as $720 million this ...

Life Insurance May Be Untapped Resource In Tough Economic Times
KANSAS CITY, Mo. , Jan. 4, 2012 /PRNewswire/ -- In tough economic times, people look everywhere — an IRA or 401(k), credit cards, even under their mattress — for emergency cash. But according to a recent ...

John Hancock Insurance Agency, Inc. to Distribute Travel Insurance
BOSTON , Jan. 4, 2012 /PRNewswire/ --John Hancock Financial today announced that it has entered the travel insurance marketplace, distributing products through a new web site, www.johnhancocktravel.com ...

CSC Honors Property and Casualty Insurers, Self-Insured Firms at Connect 2011 ...
CSC Honors Property and Casualty Insurers, Self-Insured Firms at Connect 2011 ...

Allstate Files $1.1 Million Insurance Fraud Case in NY
HAUPPAUGE, N.Y. , Jan. 4, 2012 /PRNewswire/ -- Allstate Insurance is seeking to recover more than $1.1 million from sixteen New York -area defendants in its ninth insurance fraud lawsuit of 2011. The complaint, ...

Greyling Chosen as Geosyntec Insurance Broker and Risk Consultant
ATLANTA, GA, Jan 04, 2012 (MARKETWIRE via COMTEX) -- Greyling is pleased to announce it has been chosen as the insurance broker for Geosyntec Consultants, Inc., an international environmental engineering and consulting firm with 50 US offices as well ...

John Hancock Financial Joins Travel Insurance Marketplace
John Hancock Financial has entered the travel insurance marketplace. The company's product will be distributed by John Hancock Insurance Agency and underwritten by Old Republic Insurance Co. of Greenberg, Penn. The new travel insurance product combines ...

Countdown to NJ's Health Insurance Exchange
The state has six months to iron out the details of its insurance exchange -- and qualify for $5 million in federal grants. By Beth Fitzgerald, NJ Spotlight 2012 is the year that the first major components of the federal Affordable Care Act will be put ...

John Hancock Insurance Agency, Inc. to Distribute Travel Insurance
InsureMyTrip.com, - John Hancock Insurance Agency, Inc. to distribute travel products underwritten by Old Republic Insurance Company, By John Hancock Financial BOSTON, Jan. 4, 2012 -- /PRNewswire/ --John Hancock Financial today announced that it has ...

Allstate Files $1.1 Million Insurance Fraud Case in NY
By Allstate Insurance Company HAUPPAUGE, NY, Jan. 4, 2012 -- /PRNewswire/ -- Allstate Insurance is seeking to recover more than $1.1 million from sixteen New York-area defendants in its ninth insurance fraud lawsuit of 2011. ...

Survey: Multi-line Insurance Discounts Become Less Popular Even as Average ...
Survey: Multi-line Insurance Discounts Become Less Popular Even as Average ...

Earthquakes prompt record insurance claims in 2011
REUTERS - Insurance industry damage claims from natural disasters like the earthquakes in Japan and New Zealand reached a record $105 billion in 2011, Munich Re, the world's biggest reinsurer, said on Wednesday. The cost to insurers from the earthquake ...

Study: Continuous Insurance Required for Low-Income Diabetics
More than half of patients (52%) had that kind of continuous coverage, while 27% were continuously uninsured and 21% were partially insured. “In almost all cases, those insured for 1% to 99% of the study period received services less often than those ...

Health Insurance Outlet Provides Tips for Saving on Health Insurance
4, 2012 -- /PRNewswire/ -- Fast, Free and Secure Online Health Insurance Quotes for Individuals, Families and Small Businesses. You can apply directly online at www.healthinsuranceoutlet.com. Navali & Company, insurance agency and parent company of ...

Insurance payouts point to climate change
Only a third of those costs were covered by insurance. And the tally ignores completely any expenses associated with sickness or injuries triggered by the disasters. The single priciest events last year were the magnitude 9 earthquake and tsunami in ...

Ohio Mayor Buys Quake Insurance as He Seeks Answers on Fracking
Just to be safe, he's bought earthquake insurance. “You lose your whole house, that's your life savings, and if you have no money or no insurance to replace it, then what do you do?” Mayor Charles P. Sammarone said in a telephone interview today. ...

California adds patients to health insurance rolls
California now ranks second only to Pennsylvania with the highest number of enrollees in the temporary federally funded insurance plan. The interim coverage helps people with cancer, heart disease and other long-term disorders pay for doctor visits, ...

Portland prepares for fight with insurance company over $1.5 million in legal ...
Portland prepares for fight with insurance company over $1.5 million in legal ...

Insurance firm asks court to affirm funds withheld from districts
By Tom Tolan of the Journal Sentinel The WEA Trust, a nonprofit health insurance company with ties to the state's largest teachers union, has asked a federal court to find that it acted properly in denying federal money to school districts that dropped ...

Tsunami leads to record insurance costs
Insured losses topped a whopping $105 billion, making 2011 the costliest year on record in terms of natural disaster losses, according to Munich Re, which specializes in high-risk insurance called reinsurance. “Thankfully, a sequence of severe natural ...

Hungary Sovereign Debt Insurance Costs At Record Highs
As CDS function like a default insurance contract for debt, this means it now costs an average of $745000 a year to insure $10 million worth of debt sold by the country. "We have seen a full-blown panic in Hungarian assets as worries over signing of an ...

How You Can Make Money Off Your Car When Not Using It
Though car sharing may seem like a nice way to make some extra money, the insurance risks can well overshoot any extra cash you earn. There are different kinds of car sharing programs; some are covered and others are not. Basically, if you receive ...

Access Home Insurance Company Earns Financial Stability Rating® of A ...
Access Home Insurance Company Earns Financial Stability Rating® of A ...

Initial Jobless Claims in U.S. Fell 15000 Last Week to 372000
5 (Bloomberg) -- Fewer Americans filed claims for unemployment insurance payments last week, showing the labor market is starting 2012 on better footing than a year earlier. Applications for jobless benefits decreased 15000 in the week ended Dec. ...

Western Insurance Agents Roundtable: In Uncertain Economy, Change Is Certain
By Don Jergler | January 5, 2012 The economy, the promised-land of a hard insurance market and the need to master technologies dominated discussion at the first annual Insurance Industry Roundtable in Irvine, Calif. The daylong event was attended by 23 ...

Health insurers' good year
A new Bloomberg Government study out this morning finds that health insurance companies have had a pretty stellar financial year. Returns on investments have surged ahead of general stock indexes and, as the above chart shows, anyone who invested $1 in ...

Americans With Sporadic Health Insurance Skip Tests As Much As Those With None ...
Americans With Sporadic Health Insurance Skip Tests As Much As Those With None ...

Health Insurance Costs Taking Harsh Toll On Gem Staters
5, 2012 -- New AARP Survey Details Sacrifices Idahoans Make to Pay for Health Insurance, Finds Registered Voters Back Health Exchange w/ Majority of Republicans & Conservatives Supporting Issue BOISE, Idaho, Jan. 5, 2012 /PRNewswire-USNewswire/ -- The ...

Report: Health Insurance Profits Rise Despite Health Care Reform
By Sophie Quinton Health insurance companies made ever-widening profit margins in 2011, a result that defies the companies' predictions that health care reform would put private insurers out of business, a Bloomberg Government analysis has found. ...