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Insurance News 05/2012



Europe Sovereign Debt Insurance Costs Mixed, Spain Stable
Credit default swaps are derivatives that function like a default insurance contract for debt. If a borrower defaults, sellers compensate buyers. While its borrowing costs continue to creep higher, with fears that its government's efforts to put its ...

India insurance cos to give $50 mln cover for Iran oil buy-Exec
"We have in writing from General Insurance Corp that it and four other insurers will provide a cover of $50 million to Indian flag carriers per Iranian voyage," Sunil Thapar of Shipping Corp of India, the country's largest shipping firm with a fleet of ...

Transgender Woman Wins Insurance Coverage for Mammogram
Beth Scott was told by her doctor she needed a mammogram, a cancer screening that health insurance usually covers. She had the mammogram in June 2010, paying $385 out of pocket. But when she submitted the claim to her insurance company, ...

Fireman's Fund Insurance Announces Appointment of Lee Roth as High Net Worth ...
Fireman's Fund Insurance Announces Appointment of Lee Roth as High Net Worth ...

Lexington Insurance Company Announces Parity(SM), Innovative Technology ...
Lexington Insurance Company Announces Parity(SM), Innovative Technology ...

Boost, Virgin Mobile push phone insurance for $5 per month
Throughout the month of May, all Boost Mobile and Virgin Mobile customers can insure their phones against damage or loss. by Jessica Dolcourt May 1, 2012 7:50 AM PDT Follow @jdolcourt Sprint is about to do you a favor, by selling you insurance on your ...

Genworth Announces Two Leadership Changes in Mortgage Insurance Businesses
RICHMOND, Va., May 1, 2012 /PRNewswire via COMTEX/ -- Genworth Financial, Inc. (NYSE:GNW) announces that it has named US Mortgage Insurance President and Chief Executive Officer (CEO) Kevin Schneider as president and CEO of its recently formed Global ...

HCC Insurance Holdings Reports Results for the First Quarter of 2012
HOUSTON, May 1, 2012 (GLOBE NEWSWIRE) -- HCC Insurance Holdings, Inc. (NYSE:HCC) today released results for its first quarter ended March 31, 2012. Net earnings were $82.6 million for the first quarter of 2012, compared to $47.0 million for the first ...

American Safety Insurance Announces Promotions and New Hires in its U.S. ...
American Safety Insurance Announces Promotions and New Hires in its U.S. ...

Car Insurance Rates Responds to Latest US Crash Report Findings
Vehicle insurance resource CarInsuranceRates.com responds to the latest national study by the Society of Automotive Engineers outlining the correlation between turn signal neglect and traffic accidents. The site offers in-depth information concerning ...

Dewey Staff's Health Insurance Suspended
By STEVE EDER and ASHBY JONES Health-insurance benefits for attorneys and staff members at beleaguered New York law firm Dewey & LeBoeuf LLP have been suspended for "nonpayment," according to junior lawyers at the firm. Two junior attorneys each ...

Spain, Italy Debt Insurance Costs Rise On Manufacturing Data
LONDON (Dow Jones)--Spanish and Italian debt insurance costs rose Wednesday after data showed euro-zone manufacturing activity slumped in April at its fastest pace in almost three years. Around 0830 GMT, five-year credit default swaps on Spain were ...

Patrons Insurance Agency Joins Trusted Choice in Order to Provide Great ...
Patrons Insurance Agency Joins Trusted Choice in Order to Provide Great ...

The Road to Auto Insurance Is Not All Potholes and Speed Bumps, Assures ...
The Road to Auto Insurance Is Not All Potholes and Speed Bumps, Assures ...

OneBeacon Professional Insurance to Streamline Underwriting and Deliver ...
OneBeacon Professional Insurance to Streamline Underwriting and Deliver ...

SBI Insurance Becomes the First Japanese Company to Select Guidewire ...
SBI Insurance Becomes the First Japanese Company to Select Guidewire ...

No licks barred: Petplan Pet Insurance Proudly Announces Collaboration with ...
No licks barred: Petplan Pet Insurance Proudly Announces Collaboration with ...

Future of Insurance Initiative Launched by Innovation Group's North America ...
Future of Insurance Initiative Launched by Innovation Group's North America ...

TEXT-Fitch revises Zurich Insurance Co outlook to positive
May 2 - Fitch Ratings has affirmed Zurich Insurance Company's (ZIC) Insurer Financial Strength (IFS) rating at 'A+' and Long-term Issuer Default Rating (IDR) at 'A'. The Outlook was revised to Positive from Stable. ZIC is the main operating company of ...

TEXT-Fitch affirms The Farmers Insurance Exchange
May 2 - Fitch Ratings has affirmed the 'A+' Insurer Financial Strength (IFS) rating of The Farmers Insurance Exchange and its affiliated property & casualty insurers. The Rating Outlook is Stable. A full list of rating actions is provided at the end of ...

First Health Insurance Retail Center Coming to New Jersey
NEWARK, NJ, May 02, 2012 (BUSINESS WIRE) -- Finding answers to health insurance questions or getting assistance to purchase a health insurance plan that is right for your family will get a little easier for residents in the area of Moorestown, ...

The Preview Health Insurance Executives Don't Want You to See
Starting this week one million Californians will pay hundreds of millions of dollars more for their health insurance. It's a plot right out of Groundhog Day, only it happens every Spring, Winter, Summer and Fall. Health insurance rates in California ...

Celedinas Insurance Group Selected as the Assurex Global Shareholder for South ...
Celedinas Insurance Group Selected as the Assurex Global Shareholder for South ...

American Safety Insurance Holdings, Ltd. Reports First Quarter Financial Results
HAMILTON, Bermuda, May 02, 2012 (BUSINESS WIRE) -- American Safety Insurance Holdings, Ltd. (NYSE:ASI) today reported net earnings of $4.1 million for the three months ended March 31, 2012, or $0.39 per diluted share, as compared to $7.9 million, ...

Allstate 1Q Profit Jumps 46% On Home-Insurance Results
s (ALL) first-quarter profit jumped 46% to $766 million as improved results in its home-insurance business and lower catastrophe costs gave a boost to the company's results. Its operating income of $1.42 a share beat the consensus estimate of analysts ...

Online Insurance Marketplace Site Announces New Feature, Online Videos
Online Insurance Marketplace Announces New, Online Videos on (www.onlineinsurancemarketplace.com) Los Angeles, CA (PRWEB) May 02, 2012 Online Insurance Marketplace, the premiere site for life insurance saving tips for no medical exam insurance ...

Health Insurance Infographics from HealthCompare Educate Today's Consumers on ...
Health Insurance Infographics from HealthCompare Educate Today's Consumers on ...

Spanish, French Debt Insurance Costs Rise Ahead of Auctions
Credit default swaps are derivatives that function like a default insurance contract for debt. If a borrower defaults, sellers compensate buyers. Spain faces another test of investor confidence as it plans to sell up to EUR2.5 billion of bonds for the ...

Insurance Companies Standardize on DocuSign as Trusted eSignature Solution
SAN FRANCISCO, May 03, 2012 (BUSINESS WIRE) -- -- DOCUSIGN MOMENTUM -- DocuSign, the global standard for electronic signature, announced today that the nation's leading life and property & casualty insurance companies have standardized on DocuSign to ...

Bill to cut free health insurance for state retirees advances
24, 2012, in Elmhurst, Ill. (AP Photo/Chicago Sun-Times, Al Podgorski) By DOUG FINKE A bill to eliminate a premium-free health insurance perk for state government retirees is on its way to the floor of the Illinois House. Without a dissenting vote, ...

Manulife First-Quarter Profit Rises on Insurance Sales
(MFC), Canada's largest insurer, said profit surged 22 percent, topping analysts' estimates, on increased insurance sales and higher gains from annuities as markets rallied. Net income climbed to C$1.21 billion ($1.23 billion), or 62 cents a share, ...

AssuredPartners Acquires Insurance Systems
LAKE MARY, Fla., May 03, 2012 (BUSINESS WIRE) -- AssuredPartners, Inc., has acquired substantially all of the assets of Insurance Systems, Inc. and Insurance Systems of West Virginia, Inc., based in Ona, West Virginia. Insurance Systems, Inc. is a full ...

Concordis Group, Inc. Announces Successful Written Insurance Business Through ...
Concordis Group, Inc. Announces Successful Written Insurance Business Through ...

Allstate: Rivals Now Joining Us In Raising Home Insurance Rates
(ALL) executives said rivals are beginning to raise US home-insurance rates, joining Allstate in an effort to offset rising claims costs. Allstate has been boosting the price of coverage for years as severe weather pushed the company to repeated ...

Kentucky Growers Insurance Company, Inc. Earns Financial Stability RatingĀ® of ...
Kentucky Growers Insurance Company, Inc. Earns Financial Stability RatingĀ® of ...

Portugal Debt Insurance Costs Drop, Euro Peers' Rise
LONDON (Dow Jones)--The cost of protecting against a Portuguese default fell in April, showing the biggest month-on-month improvement worldwide, even as insurance cover for most other euro-zone countries became more expensive because of increasing ...

American Family Insurance lays off 87, mostly in Madison
Madison-based American Family Insurance on Wednesday laid off 87 people, almost all in Madison and all from the company's information services division, as part of an ongoing effort to cut costs. The workers -- some with 20 years' experience -- were ...

Vertafore Unveils Insurance Software Innovations at NetVU12 Conference
Vertafore (http://www.vertafore.com), a leading provider of software that transforms the #insurance industry, showcased a range of upcoming product enhancements and releases at the 2012 Network of Vertafore Users (NetVU) Annual Conference held in ...

Eastern Insurance Holdings, Inc. Announces First Quarter 2012 Results
LANCASTER, Pa., May 3, 2012 /PRNewswire via COMTEX/ -- Eastern Insurance Holdings, Inc. ("EIHI" or the "Company") (NASDAQ:EIHI) today reported net income for the three months ended March 31, 2012 of $2.9 million, or $0.37 per diluted share, ...

Gains in Insurance Divisions Help Pace AIG's Profit Surge
By ERIK HOLM And SERENA NG American International Group Inc. said its first-quarter profit more than doubled to $3.21 billion, driven by improved results at the bailed-out company's main insurance businesses and market-price gains in the value of two ...

FEMA to hold flood insurance meeting
Information about the new flood insurance maps for Bradford County will be provided at a meeting this week in Towanda. FEMA's Community Coordination Outreach (CCO) will be held at the Towanda Junior-Senior High School in the large group instruction ...

Health 411: Health insurance law for children is being played out
(Robert Gauthier/Los Angeles Times / May 4, 2012) By Lisa Zamosky, Special to the Los Angeles Times I just applied for an insurance plan for my 10-year-old daughter, but she was denied because she has asthma. I thought the new health reform law ...

French Debt Insurance Costs Rise Slightly Ahead Of Elections
Credit default swaps are derivatives that function like a default insurance contract for debt. If a borrower defaults, sellers compensate buyers. French President Nicolas Sarkozy looks set to be ousted as Francois Hollande promises to shift the ...

TEXT-S&P raises Gulf Insurance Co. ratings to 'A-';outlook stable
However, compared with non-life insurance industry norms, and despite the significant reduction in group's equity holdings, it continues, in our view, to have significant market risk in its balance sheet emanating through equity and real estate ...

CurePet and Ebix Announce Agreement to Deploy Cloud Based Pet Insurance Exchange
ATLANTA, May 4, 2012 (GlobeNewswire via COMTEX) -- Ebix, Inc. (NASDAQ:EBIX) , a leading international supplier of On-Demand software and E-commerce services to the insurance industry, today announced that it has signed an agreement with CurePet to ...

AM Best Affirms Ratings of Co-operators General Insurance Company and Its ...
AM Best Affirms Ratings of Co-operators General Insurance Company and Its ...

US official: China agrees to expand access to securities, insurance, discuss ...
US official: China agrees to expand access to securities, insurance, discuss ...

RDS Insurance Brokers Combats Rising California Business Insurance Premiums ...
RDS Insurance Brokers Combats Rising California Business Insurance Premiums ...

AM Best Assigns A+ Rating to Princeton Insurance Company
PRINCETON, NJ & FORT WAYNE, Ind., May 04, 2012 (BUSINESS WIRE) -- Independent rating agency AM Best today assigned Princeton Insurance Company an initial financial strength rating of "A+ (Superior)." The outlook is "positive", meaning that a further ...

TEXT-Fitch affirms Bupa Insurance Ltd
May 4 - Fitch Ratings has affirmed Bupa Insurance Ltd's (BIL) Insurer Financial Strength (IFS) rating at 'A+' and Long-term Issuer Default Rating (IDR) at 'A' with Stable Outlooks. Fitch has also affirmed BIL's GBP330m subordinated perpetual bond, ...