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Insurance News 03/2012



iPartners' Insurance Scorecard Selected by Farm Bureau Insurance of Michigan
ATLANTA, Mar 01, 2012 (BUSINESS WIRE) -- iPartners, the leading provider of Software as a Service (SaaS) business analytics solutions to the property & casualty (P&C) insurance industry, today announced that its iPartners' Insurance Scorecard has been ...

Greek CDS insurance payments not triggered: ISDA
ISDA's Thursday ruling means holders of these insurance contracts, worth a net $3.25 billion, will not receive payment at this stage, though further rulings based on any new questions are still possible. "The situation in the Hellenic Republic is still ...

Feds dismantle NY auto insurance fraud ring
by AP A cadre of corrupt doctors and scam artists sought to cheat auto insurance companies out of $279 million in bogus medical claims — the largest-ever fraud involving New York's no-fault law, authorities said Wednesday. The investigation resulted ...

Panel: No insurance payout on Greek bond swap
FRANKFURT, Germany (AP) — Investors hoping for billions of dollars in insurance compensation from an agreement to reduce the amount Greece owes its bondholders were left disappointed Thursday after a panel convened by a derivatives market organization ...

Nationwide Insurance Donates $120000 to CIAA Scholarship Fund
COLUMBUS, Ohio, Mar 01, 2012 (BUSINESS WIRE) -- Nationwide Insurance, the official insurance provider of the Central Intercollegiate Athletic Association (CIAA), announced today a $120000 donation to the CIAA college scholarship fund, as part of its ...

AM Best Revises Outlook to Negative for Minnesota Lawyers Mutual Insurance Company
OLDWICK, NJ, Mar 01, 2012 (BUSINESS WIRE) -- AM Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of Minnesota Lawyers Mutual Insurance Company (MLM) ...

Goldman to buy Ariel Re's insurance operations
N) said it would buy Ariel Re's Bermuda-based insurance and reinsurance operations, its latest foray into a business that has been lucrative for Wall Street banks, though not a large part of earnings. The business will be combined with Goldman's ...

NJ Spotlight: Watchdogs Target Insurance Brokers' Lucrative Government Work
By NJ Spotlight NJ Spotlight: Insurance brokers cashing in on government work. iStock To State Comptroller Matthew Boxer and Citizens Campaign Chairman Harry Pozycki, it's a simple question: Why are New Jersey's county and municipal governments and ...

Banks rally after panel says Greek deal didn't trigger insurance payments ...
Banks rally after panel says Greek deal didn't trigger insurance payments ...

No insurance pay-out on Greek debt
By Richard Milne and David Oakley Billions of dollars in credit default insurance on Greek sovereign bonds will not yet be paid out despite next week's restructuring of €186bn of the country's debt, an industry body has ruled in a move that raised ...

WestPark Capital Inc.'s Michael Wechsler Comments on the Life Insurance Market
By WestPark Capital, Inc. LOS ANGELES, March 1, 2012 -- /PRNewswire/ -- While health insurance premiums have increased approximately 113% over the past ten years according to a survey in September 2011 by the Kaiser Family Foundation, the reverse is ...

Fla. House poised to pass auto insurance fix
The Florida House is moving ahead with an auto insurance fix that limits what type of treatment is available for injured motorists. The House gave tentative approval on Thursday to a bill that aims to reduce expenses associated with a type of insurance ...

Health insurance refunds in Florida in the works
By Bob LaMendola, Sun Sentinel Hundreds of thousands of Floridians could be in line for perhaps $100 million of health insurance rebates in August, under a federal review process that began Thursday. The federal health care overhaul passed by Congress ...

Introducing RAF Strategies, Experts on Insurance Strategies for Retirement ...
Introducing RAF Strategies, Experts on Insurance Strategies for Retirement ...

Petplan Pet Insurance Names Dr. Alan Stewart “Top Dog” as Part of 2012 ...
Petplan Pet Insurance Names Dr. Alan Stewart “Top Dog” as Part of 2012 ...

State Senate Committee Hold Hearing for Autism Insurance Bill
By DEENA CENTOFANTI It was standing room only as a state Senate committee heard testimony Thursday on a new bill that would mandate insurance coverage for autism treatment in Michigan. "I cannot put into words the feeling for not only myself and my ...

California's Westways Insurance Agency, Inc. Launches Modernized Digital ...
California's Westways Insurance Agency, Inc. Launches Modernized Digital ...

Charlotte Insurance Helps Drivers Prepare for Spring Sales with Car Buying ...
Charlotte Insurance Helps Drivers Prepare for Spring Sales with Car Buying ...

Using a cannon to swat a health insurance fly
When is health insurance not really health insurance? It is when your insurance company or employer can refuse to cover anything it feels like. There was a time when physicians decided what care a patient needs. Now, it seems, lots of people want to ...

Japan Refiners Eye Force Majeure Clauses Due to Lack of Insurance
By Osamu Tsukimori and Randy Fabi | March 2, 2012 Japanese buyers of Iran crude may ask Tehran to include a force majeure clause in contracts if they are unable to pay Iran or lift Iranian oil due to lack of insurance cover for tankers under European ...

Cost estimate for insurance aid prompts questions
House Ways and Means Committee Chairman Dave Camp, R-Mich., wants to know by Monday why the estimated ten-year cost of helping millions of middle-class Americans buy health insurance has jumped by about 30 percent. Administration officials say the ...

Paradiso Insurance Gears Up for the 2012 Run-Walk to Home Base to Support ...
Paradiso Insurance Gears Up for the 2012 Run-Walk to Home Base to Support ...

Norman-Spencer Agency Brings Property and Casualty Insurance Products from ...
Norman-Spencer Agency Brings Property and Casualty Insurance Products from ...

Cost estimate for insurance aid jumps $111B; administration cites technical ...
Cost estimate for insurance aid jumps $111B; administration cites technical ...

Insurance etiquette: 8 ways to avoid embarrassment and rude behavior
If you plan to discuss insurance claims with friends and acquaintances without offending them, you'll find that using the proper etiquette is important. For starters, there are some things you simply don't ask. Even people you know well may be ...

Shopping for insurance? 18 tips
And like it or not, planning for the unexpected by being properly insured is a big part of being financially responsible. That's because people who try to save a few bucks by not buying insurance can quickly end up in severe financial distress if bad ...

Police seek Huntley insurance broker accused of thefts, forgery
By Dave Gathman [email protected] March 2, 2012 2:48PM Russell Palermo age 46 who owns and operates Palermo Insurance Agency 11187 Dundee Rd #105 Huntley IL, had been charging clients insurance premiums when in fact there was no policy in ...

Mortgage insurance should be portable
Critics say lenders' mortgage insurance is a rip-off and there is not enough competition in the industry to drive prices down. Moreover, they say insurers should be prevented from ''double dipping'' - charging borrowers again when they switch lenders ...

BP Appeals Insurance Ruling In Gulf Oil Spill
NEW ORLEANS -- BP PLC says it is appealing a federal judge's ruling that said the oil giant was not covered for the 2010 Gulf oil spill under insurance policies totaling $750 million held by the owner of the Deepwater Horizon rig that BP was leasing at ...

Abortion insurance bill dies in Wash. Senate
A bill to link abortion coverage to maternity care has died in the Washington state Senate. By JONATHAN KAMINSKY Associated Press No comments have been posted to this article. A bill to link abortion coverage to maternity care has died in the ...

Collecting Unpaid Insurance
By LESLIE SCISM Edith Stern Lowey, a Holocaust survivor, never collected on an insurance policy taken out by her family in the years before they were forced into concentration camps. The 83-year-old Israeli, whose parents died at Auschwitz, ...

Junk Health Insurance Caution
But the law isn't fully implemented yet, and many people are unwittingly signing up for insurance that barely protects them. A Consumer Reports investigation calls out “junk” health insurance and how to avoid it. Health reform was supposed to make ...

Abortion insurance bill defeated in Wash. Senate
A bill to require insurance plans covering maternity care to also pay for abortions is likely stalled for this legislative session after it failed to advance to the floor Friday in the Washington state Senate. By JONATHAN KAMINSKY Associated Press No ...

Insurance often covers hail damage, agents say
As soon as the hail stopped falling, the phones started ringing at Robins Insurance Agency. By late Friday afternoon, the Nashville agency had received numerous calls — including three within a 10-minute span — from clients reporting hail damage, ...

Private investigator nails insurance fraud at parades
The quote above is from a solicitation letter that Avery, who graduated from the University of South Carolina with a degree in criminal justice and another in human and social science, sends annually to 600 or 700 businesses, insurance companies and ...

Cost estimate for insurance aid prompts questions
House Ways and Means Committee Chairman Dave Camp, R-Mich., wants to know by Monday why the estimated ten-year cost of helping millions of middle-class Americans buy health insurance has jumped by about 30 percent. Administration officials say the ...

Insurance Still a Struggle a Year After adultBasic Nixed
A conference call Wednesday showed many Pennsylvanians are still struggling with health insurance coverage and costs. By Amanda Gillooly One local woman with a chronic illness who had no insurance for several months ponders this pile of bills, ...

Insurance premiums, Buffett's traditional source of new funds is drying up
Warren Buffett, the former hedge fund manager who built Berkshire Hathaway Inc. into a $195 billion company by gaining leverage through insurance premiums, said this traditional source of new funds is drying up. Berkshire's insurance units, which cover ...

Rush Limbaugh, Sandra Fluke and Why is Contraception Part of Health Insurance ...
Rush Limbaugh, Sandra Fluke and Why is Contraception Part of Health Insurance ...

Predict Long Term Care Insurance Risk With Life Span Calculators
The question most frequently asked by consumers contacting the American Association for Long Term Care Insurance is, "will I really need long term care?" "This is the first generation of Americans who in large numbers are living long lives," explains ...

North Carolina's McKinney Insurance Services Unveils its New Custom Virtual ...
North Carolina's McKinney Insurance Services Unveils its New Custom Virtual ...

Nationwide Insurance, Allied Insurance Begins Severe Weather Response
COLUMBUS, Ohio, Mar 03, 2012 (BUSINESS WIRE) -- Nationwide Insurance and Allied Insurance claim representatives and agents are assisting customers affected by the severe storms that recently swept across the country. Procedures are in place providing ...

Joplin senator pushes for changes to insurance law after tornado
Surface, a former state representative who now works in Webb City, said this past week that his home insurance company quickly paid him for the full value of his destroyed home in the southwest part of Joplin. But the same insurance company said he ...

Ex-adultBasic customers still searching for insurance
By PATTI MENGERS One year after 42000 working Pennsylvanians lost adultBasic, a state program designed to provide low-cost health insurance for low-income residents ages 19 through 64, many are still struggling to get health care, according to health ...

Farmers Insurance Claims Teams and a Farmers Mobile Claims Center Bus (MCC ...
Farmers Insurance Claims Teams and a Farmers Mobile Claims Center Bus (MCC ...

Insurance offered to cover health executives in fraud cases
By David Sell You normally can't buy insurance to cover your losses when you commit a crime such as bank robbery. But you can now buy insurance specifically tailored for certain misdemeanor crimes of health-care fraud. Corporate insurance broker Marsh ...

2011 storms trigger home insurance rate hikes
By Todd Wallack Consumers, already contending with the rising cost of gasoline, food, and other necessities, could now also face sharply higher home insurance premiums. After several years of modest increases, insurance companies are raising rates to ...

Global insurance programs have key challenges to overcome
NEW YORK—Insurance is highly regulated around the world, but it also is regulated inconsistently, creating a significant challenge in crafting global insurance programs, a global insurance expert says. Speaking last week at the annual Business ...

Citizens changes produce sharp rise in complaints
By Paul Owers, Sun Sentinel Citizens Property Insurance Corp., which covers nearly one of every four Floridians, has been making some of them very unhappy. Last year, the state Division of Consumer Services fielded 2025 complaints mentioning state-run ...

Proof of insurance? Lawmaker wants an app for that
A bill introduced by Democratic Assemblyman Mike Gatto of Los Angeles would give Californians the option of presenting their proof of insurance on a hand-held device during traffic stops. Many insurance companies have introduced apps that display ...