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Insurance News 02/2012



Citizens insurance seeks federal high court ruling on judgment
The Louisiana Citizens Property Insurance Board on Tuesday hired a Washington, DC, attorney to appeal a Louisiana Supreme Court ruling that calls for Citizens to pay $93 million, plus interest, to policy holders who sued because Citizens did not meet a ...

Car Insurance Discount Helps Pac-12 Students and Alumni Save Money on Car ...
Car Insurance Discount Helps Pac-12 Students and Alumni Save Money on Car ...

John Hancock to Re-enter California Individual Long-Term Care Insurance Market
1, 2012 /PRNewswire via COMTEX/ -- John Hancock today announced that its individual long-term care insurance would be available in California, beginning February 27, including both its new California Partnership policy and Custom Care III ...

Lexington Insurance Company Hospital Outbreak Study Published
NEW YORK, Feb 01, 2012 (BUSINESS WIRE) -- Lexington Insurance Company, a Chartis company, today announced that its recent study, titled "Frequency of Outbreak Investigations in US Hospitals: Results of a National Survey of Infection Preventionists," ...

Dawson Companies Joins the LexisNexis(R) Insurance Exchange
CLEVELAND, Feb 01, 2012 (BUSINESS WIRE) -- LexisNexis(R) Risk Solutions today announced that Dawson Companies, a leading brokerage in the US, joined the LexisNexis(R) Insurance Exchange. The Cleveland-based broker elected to become part of the ...

Progressive Car Insurance to Hire 65 People in Phoenix
PHOENIX -- In a state where unemployment rates recently hit 8.7 percent, Progressive car insurance is helping boost the Phoenix area economy by filling 65 positions in sales and service. Performance bonuses; a casual dress code; and fitness centers are ...

Liberty Life Insurance Company Renamed, Will Now Operate as Athene Annuity
GREENVILLE, SC--(EON: Enhanced Online News)--Liberty Life Insurance Company, a retail fixed annuity and reinsurance provider, today announced it had changed its legal name to Athene Annuity & Life Assurance Company and will operate under the brand name ...

Harleysville Insurance Commits $100000 to North Penn United Way to Inspire ...
Harleysville Insurance Commits $100000 to North Penn United Way to Inspire ...

Lexington Insurance Company Hospital Outbreak Study Published
NEW YORK--(EON: Enhanced Online News)--Lexington Insurance Company, a Chartis company, today announced that its recent study, titled “Frequency of Outbreak Investigations in US Hospitals: Results of a National Survey of Infection Preventionists,” has ...

Repwest Insurance Company to Strengthen Loss Reserves on Discontinued Business ...
Repwest Insurance Company to Strengthen Loss Reserves on Discontinued Business ...

Insurance deal ends uncertainty for SLU, Des Peres hospital patients
Under the agreement, Anthem and HealthLink members will continue to receive "in-network" insurance coverage for the medical care they receive at SLU Hospital, Des Peres Hospital, and related outpatient facilities. "We're happy that we have a new ...

Three States to Require Insurers to Disclose Climate-Change Response Plans
Insurance commissioners in California, New York and Washington State will require that companies disclose how they intend to respond to the risks their businesses and customers face from increasingly severe storms and wildfires, rising sea levels and ...

State Awards Contract to OSPIRG for Input on Health Insurance Rates
February 1, 2012 -- The Department of Consumer and Business Services (DCBS) recently awarded a consumer group a three-year contract to continue to offer input on health insurance rate requests on behalf of consumers. The Oregon State Public Interest ...

Insurance firm seeks limits in Sandusky case
Manufacturers' Association Insurance Co. argued it may not have to cover Penn State. By Robert Moran An insurance company covering Pennsylvania State University asked Philadelphia Common Pleas Court to limit its exposure from a lawsuit filed by an ...

Sen. Feinstein backs health insurance rate controls
By Marc Lifsher A high-stakes ballot measure to give state regulators the power to approve health insurance rates in California has landed a heavyweight supporter: US Sen. Dianne Feinstein. One of California's most respected politicians, Feinstein has ...

Insurance companies cover Missouri autism treatments
JEFFERSON CITY Missouri's insurance department says nearly 4000 residents received autism treatments that were covered by their health insurance plans last year. The department said Wednesday that insurance companies covered about $4.3 million in ...

Foremost Insurance Group Pegram Racing Team Rides Again into the 2012 Season
Professional, hard working, and passionate are just a few words to define the Foremost Insurance Pegram Racing race team. For the third year in a row, Foremost® will maintain the title sponsorship for the Pegram racing team in the 2012 AMA American ...

Deborah L. Michel to Lead Liberty Mutual Insurance's Major Accounts and ...
Deborah L. Michel to Lead Liberty Mutual Insurance's Major Accounts and ...

Insurance deal ends uncertainty for patients at St. Louis University, Des ...
Insurance deal ends uncertainty for patients at St. Louis University, Des ...

Insurance firms, NHL face off over concussions
Insurance companies specializing in sports say that the league's 30 teams will have to absorb the risk of million-dollar contracts alone. More than 60 NHL players are sidelined with head injuries this season including Pittsburgh Penguin captain Sidney ...

AM Best Withdraws Ratings of Mhealth Insurance Company
OLDWICK, NJ, Feb 02, 2012 (BUSINESS WIRE) -- AM Best Co. has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and the issuer credit rating to "bbb" from "a-" of Mhealth Insurance Company (Houston, TX), formerly known as ...

Sentry Insurance Chooses Varicent for Flexibility, Scalability and Agility
TORONTO, Feb 02, 2012 (BUSINESS WIRE) -- Varicent Software Incorporated, announced today that Sentry Insurance Group, one of the largest mutual insurance companies in the United States, has selected Varicent to manage its internal sales incentive ...

Sentry Picks Varicent for Sales Compensation
based Sentry Insurance has selected Toronto's Varicent Software to manage its internal sales incentive compensation processes. Varicent's software will be deployed to 700 Sentry sales personnel, replacing a legacy custom-built compensation system that ...

Prudential Insurance Will Pay $17 Million to Settle Death-Benefit Claims
Prudential Insurance Co. of America agreed to pay $17 million as part of a multistate settlement over death benefits when an insured person dies and no claim is filed. The settlement was announced today by Florida insurance regulators and the state's ...

Scottsdale Insurance Company® Celebrates 30 Remarkable Years of Providing ...
Scottsdale Insurance Company® Celebrates 30 Remarkable Years of Providing ...

Selective Insurance Group Q4 Profit Down - Quick Facts
(RTTNews.com) - Selective Insurance Group, Inc. (SIGI) reported that its fourth-quarter net income was $16.13 million or $0.29 per share, down from $23.78 million or $0.43 per share in the same quarter last year. Operating income per share declined to ...

White House: Contraception insurance mandate is not up for debate
White House press secretary Jay Carney made no bones about it in today's press conference: The administration's decision to require religiously-affiliated employers to provide their employees with insurance coverage that covers contraception — even if ...

Insurance Industry Awakening to Climate Risks
Insurance commissioners in three states, including California, are now requiring that insurers report on how they're preparing for climate change. Insurers will fill out a survey, which was adopted by The National Association of Insurance Commissioners ...

Genworth's 4Q earnings boosted by life insurance
Shares of Genworth Financial Inc. shot up in after-hours trading Thursday, after the insurance company swung to a quarterly profit and beat analysts' estimates. Genworth said fourth-quarter net income was $107 million, compared to a loss of $161 ...

PIP insurance reform advances from state Senate committee
The bipartisan measure, which must still pass the full Senate and House, would tweak allowable treatments for those injured in car crashes and strengthen efforts to fight insurance fraud. By Tia Mitchell TALLAHASSEE -- The Florida Senate's plan to ...

Insurance: Prudential settles over death benefits; Florida Senate panel passes ...
Insurance: Prudential settles over death benefits; Florida Senate panel passes ...

Online Insurance Marketplace Announces an Increase in Searches for Keyword ...
Online Insurance Marketplace Announces an Increase in Searches for Keyword ...

Consultative Insurance Group Offers an Interactive Way to Purchase Insurance ...
Consultative Insurance Group Offers an Interactive Way to Purchase Insurance ...

Fairfax bid: Is it insurance or a minefield?
For the mega-wealthy, control of Australia's most influential newspaper group, Fairfax, is like an insurance policy against political decisions that run against their commercial interests. Rinehart has paid less than $200 million for this insurance and ...

Flood Insurance "Not Mandatory" Upon Completion of Levee Upgrades
By Sarah Yokubaitis Upon the completion of levee upgrades in San Mateo, Foster City residents will not be mandated to buy flood insurance as previously feared. "With the completion of the levee improvements in San Mateo and upon certification of the ...

Selective Insurance Group Reports Fourth Quarter and Year-end 2011 Earnings
2, 2012 -- /PRNewswire/ -- Selective Insurance Group, Inc. (NASDAQ: SIGI) today reported its financial results for the fourth quarter and year ended December 31, 2011. For the quarter, net income per diluted share was $0.29 and operating income(1) was ...

Insurance Fund Would Aid Farmers, Ranchers Still Owed $100M by MF Global
The CME insurance plan covers farmers and ranchers who use the exchange for up to $25000 and cooperatives for up to $100000 when a clearing member fails. The move was seen by many farmers as an effort to lure back customers or sooth their anger after ...

Health insurance premiums rise, but rate slows
Health insurance premiums in Oregon continued to rise in 2011 but at a slower rate than in recent years. According to the Department of Consumer and Business Services annual report on Health Insurance in Oregon, the average premium for individuals and ...

BB&T buys insurance company for $570 million
BB&T Corp. said today it has made the largest deal in its history for an insurance company, buying the life, property and casualty-insurance operating divisions of Crump Group Inc. for $570 million in cash. Crump, based in Roseland, NJ, is the largest ...

BB&T to buy insurance brokerage for $570 mln
BB&T says buy doubles wholesale insurance business * Buy to add $300 mln in annual rev to co's insurance segment * BB&T shares up 4 pct Feb 3 (Reuters) - BB&T Corp agreed to buy the life and property and casualty insurance division of Crump Group Inc ...

Consultative Insurance Group Offers an Interactive Way to Purchase Insurance ...
Consultative Insurance Group Offers an Interactive Way to Purchase Insurance ...

Insurance seminar to cover enclosure ins and outs with the experts
What does any of this have to do with flood insurance? On February 15 at 10:30 am, Bob Stewart, Director of the Lee County Division of Building Services, will be at the Community Center Auditorium to explain the intricacies of FEMA, the National Flood ...

State Farm Insurance to hire 3000 employees
By Anonymous AP BLOOMINGTON — State Farm Insurance plans to hire 3000 people across the US and Canada and add 900 agents. The Bloomington-based company said today that the hiring will replace positions it has left open as the country's economy ...

Fla. House OKs alternative hurricane insurance
(AP) — Legislation designed to help state-backed Citizens Property Insurance Co. spin off customers to reduce its hurricane risk cleared the Florida House after a heated debate Friday. The bill (HB 245) would let surplus lines companies, ...

Pleasant Hill may end free health insurance for elected officials
By Lisa P. White PLEASANT HILL -- A proposal the City Council will consider Monday would end free health insurance for elected officials but continue a $400 monthly payment for those who decline coverage. Council members Jack Weir and Michael Harris ...

Car Policy For Less, But Only If You Call
His hefty auto insurance premium on his two cars — he was paying $2537 a year — seemed a juicy potential target. But he said he “dillydallied,” and didn't call his insurer, Liberty Mutual, until a couple of weeks ago, shortly after AARP contacted him ...

Alternative hurricane insurance clears House
Legislation designed to help state-backed Citizens Property Insurance Co. spin off customers to reduce its hurricane risk cleared the Florida House after a heated debate Friday. The bill (HB 245) would let surplus lines companies, ...

BB&T buys insurance company for $570M
BB&T Corp. said Friday it has made the largest deal for an insurance company in its history, buying the life, property and casualty-insurance divisions of Crump Group Inc. for $570 million in cash. Crump, based in Roseland, NJ, is the largest ...

State health insurance marketplace plan at concept stage
Pennsylvania is taking steps to implement a health insurance marketplace for individuals and small businesses, a key part of federal health care reform. In meetings this week with lawmakers, industry groups and advocacy organizations, ...

Catholics, conscience and health insurance
BY WILLIAM F. POWERS CHAPEL HILL -- When recently President Barack Obama required that employees of educational institutions, hospitals and other agencies affiliated with religious groups be provided with insurance coverage for contraceptives, ...