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Insurance News 10/2012



NJ senators to try again on insurance exchange
He vetoed a health insurance exchange bill in May, saying he wanted to wait to see if the U.S. Supreme Court found the law, often referred to as "Obamacare," to be constitutional. The court eventually upheld most of the law. In July, Christie said he ...

TEXT-Fitch: German Life Insurance sector rating outlook remains stable
(The following statement was released by the rating agency). Oct 01 - Fitch Ratings says in a new report that its outlook for the German life insurance sector remains stable. The agency considers German life companies to be well prepared to meet the ...

Irda introduces measures to revive life insurance
MUMBAI: To revive the sagging life insurance industry, the insurance regulator has agreed to introduce changes enabling faster clearances of products, increasing investment into infrastructure and opening up bancassurance. In a country with low spread ...

Older Travellers Urged to Shop Around for the Best Travel Insurance Deals
Travellers over 70, over 80 and beyond are being urged to shop around and compare quotes when looking to buy travel insurance policies online or over the phone, urges UK niche price-comparison website moneymaxim.co.uk. As we live longer, more active ...

Erie Insurance Ranks States on Teen Driving Death Rates and Launches ...
Erie Insurance Ranks States on Teen Driving Death Rates and Launches ...

Florida Insurers' Filings on PIP Rates Due Today
Automobile insurers have until today to show Florida regulators how much, if at all, they plan on reducing rates on the personal injury protection, or no-fault, portion of drivers' policies. This could mean that Florida's drivers will save money on ...

Mississippi Ending 11-Year Old Insurance Fraud Case Involving Frankel
Attorneys for Mississippi Insurance Commissioner Mike Chaney filed a motion last Wednesday in U.S. District Court in Jackson, Miss., that seeks to voluntarily dismiss the last three defendants, including an elderly priest. Claims against the Vatican ...

SilverScript Insurance Company, a CVS Caremark Company, Introduces New ...
SilverScript Insurance Company, a CVS Caremark Company, Introduces New ...

Students shouldn't need loans to afford health insurance
Their parents may not have health insurance themselves, often because they've taken jobs where the plans are too expensive or where there's no option to purchase it. Students could elect to purchase individual plans from private providers, but these ...

Gap Insurance for Cars
Although gap insurance is never a requirement to qualify for a subprime auto loan (don't believe anyone who tries to tell you it is) there are times when it can be worth the price. That's because not only does your car belong to the lender until you've ...

Are Insurance Companies the Key to Lower Prices?
A recent study by Robert Baronson of the Urban Institute highlights some of the nitty gritty details of hardball hospital/insurance company negotiations that contribute to pricing disparities across regions, and even neighborhoods, in the United States ...

Some Insurance ETFs Showing Signs of Life
When it comes to ETFs tracking financial services stocks, insurance funds can fly under the radar compared to the likes of the Financial Services Select Sector SDPR (NAR:XLF) , the iShares Dow Jones US Financial Sector Index Fund (NAR:IYF) and related ...

Allstate Insurance opens first offices in Massachusetts in 25 years
By Todd Wallack, Globe Staff. Allstate Insurance Co. is opening its first offices in Massachusetts since pulling out of the market 25 years ago because of the state's then strict regulation of auto insurance rates. On Monday, Allstate opened an office ...

NJ senators advance health insurance exchange
TRENTON, N.J. — A New Jersey state Senate committee on Monday again advanced a bill to set up a state-run insurance exchange as a way to give uninsured people a way to buy health plans as part of the federal health insurance overhaul. There's not ...

When Doctors Stop Taking Insurance
Private health insurance used to be the ticket to a doctor's appointment. But that's no longer the case in some affluent metropolitan enclaves, where many physicians no longer accept insurance and require upfront payment from patients — cash, checks ...

Insurance rejig to give tax breaks, easier policy terms
NEW DELHI: The government on Monday announced a raft of new measures—including a simpler policy structure, easier know your customer (KYC) norms and possible tax breaks —aimed at providing a fillip to the insurance sector which is expected to ...

6 Things That Spike Your Auto Insurance
You may already know the importance of shopping around to score the best rate on your auto insurance premiums, but did you know that certain factors (or the absence of them) could cause your insurance premiums to rise? To understand what makes your ...

Crop insurance yields record profits across US, but Kentucky farmers struggle ...
Crop insurance yields record profits across US, but Kentucky farmers struggle ...

PIP reforms haven't lowered rates, at least so far
8:41 p.m. EDT, October 1, 2012. TALLAHASSEE – Monday was the deadline for more than 100 auto insurers to report to the state their plans to reduce auto insurance rates because of sweeping changes to the state's personal injury protection plan. But so ...

Texas Driver Accused of Crashing $1M Bugatti for Insurance
Three weeks before the accident, Philadelphia Indemnity Insurance Co. said, it issued a $2.2 million policy on the Bugatti, one of a few hundred made. The insurance company is using the video as evidence to say House committed fraud because there was ...

New health insurance form is a big help to consumers
Most of us would rather have a root canal than read the paper work that comes with our health insurance plan. Now this process is a bit less painful thanks to new rules that require all private health insurance companies to provide a “Summary of ...

Report: Overhaul offers key insurer growth chance
INDIANAPOLIS -- The health care overhaul is poised to pour billions of dollars into an insurance industry thirsty for customers, according to health care consultant PwC. The massive federal law aims to cover millions of uninsured people and will take a ...

Farmers Insurance Mobile Catastrophe Claims Bus Will Visit Parsippany, New ...
Farmers Insurance Mobile Catastrophe Claims Bus Will Visit Parsippany, New ...

Insurance experts not sure if government bugging regulator
By IANS,. Chennai : A day after Finance Minister P. Chidambaram announced a series of measures to revive the insurance sector, officials of some companies Tuesday expressed mixed views on whether the government was getting under the skin of the ...

Hawaii sets insurance minimums for health care
HONOLULU (AP) — Hawaii has set minimum standards for health care insurance plans that can be sold in Hawaii under new federal guidelines. Hawaii Gov. Neil Abercrombie announced the minimums at a press conference on Monday. Abercrombie says ...

How Insurers Decide Your Auto Insurance Rate
When shopping for the best auto insurance rates, you'll find a recurring theme in the information that prospective insurers collect in order to quote the cost of a premium. Common questions such as your name, social security number, zip code, car make ...

Insurance ETFs Your Broker Forgot to Mention
Insurance, be it health, home, auto or life, is not a product most folks are apt to forget about. It is easy to remember the need for health insurance in the face of soaring health care costs in the U.S. Additionally, many Americans are reminded every ...

Millionaires on the dole: 2400 received unemployment insurance in 2009 - The Star-Ledger
Almost 2,400 people who received unemployment insurance in 2009 lived in households with annual incomes of $1 million or more, according to the Congressional Research Service. The report was released after about 1.1 million people exhausted their ...

Insurance regulators approve double-digit rate increase on Citizens' home and ...
Insurance regulators approve double-digit rate increase on Citizens' home and ...

Democrats And Republicans Differ On Medicaid Fix
Medicaid is already the nation's largest health insurance program in terms of number of people covered: It serves nearly 1 in 5 Americans. Yet at the same time it's putting increasing strain on the budgets of states, which pay about 40 percent of its ...

PwC's Health Research Institute Issues Detailed Profile on Health Insurance ...
PwC's Health Research Institute Issues Detailed Profile on Health Insurance ...

Welborn Health Insurance also dropping Medicare policies
EVANSVILLE — Evansville-based Welborn Health Plans, which in June announced it was exiting the group health insurance market, is also dropping its Medicare insurance policies for individuals. On its website, Welborn has posted an open letter to ...

Indian shares gain; time for insurance sector to rally
BSE ends up 0.24 pct, NSE rises 0.22 pct * Both indexes hit highest close since July 2011 * Infrastructure, insurance-related stocks gain * Infosys falls on July-Sept earnings concern (Final update for the day) By Manoj Dharra MUMBAI, Oct 3 (Reuters ...

Do You Need Added Homeowner Insurance?
Homeowners insurance will cover you if a tree crashes on your roof or if a fire breaks out, but for misfortunes like a blown water heater or a shorted electrical system, you're on your own when it comes to repair costs. To help homeowners afford the ...

FAQ: Health Insurance Needs for Transgender Americans
Health care, particularly health insurance coverage, is another area where transgender people routinely experience serious and potentially life-threatening discrimination on the basis of gender identity. Transgender people are more likely to be without ...

India Said to Consider 49% Foreign Investment in Insurance
Singh's administration has rejected a recommendation by a parliamentary panel, which in December said a further increase in foreign direct investment may not be in the interest of the country's insurance industry, according to two government officials ...

Should We Tax Health Care Insurance as Income?
Health care insurance benefits have been excluded from taxable income since 1943, when the National War Labor Board ruled employers, who were offering health plans as a way to attract workers without violating wartime wage-and-price controls, could ...

Cabinet set to approve pension, insurance bills
NEW DELHI (Reuters) - The cabinet is set approve bills that would raise the cap on foreign direct investment in insurance firms and open the pension sector to foreign investors, a government minister told reporters on Wednesday. The bills, which ...

Fun facts about Citizens Insurance
So how come policyholders can't get a little relief? And how come we can't use some of those reserves to wipe out those running surcharges from the heavy storm years of 2004-2005 that are still tacked onto all Florida insurance policies (including auto ...

From insurance to pension, more reforms on Cabinet table today
Maintaining the momentum of its reforms agenda, the Manmohan Singh government is planning to seek Cabinet approval on Thursday for a slew of proposals aimed at further opening up of the insurance and pension sectors, amending the legislation on ...

Aspen Insurance: A Strong Buy - Analyst Blog
Rising estimates and five straight quarters of positive earnings surprises with an average beat of 49.1% helped Aspen Insurance Holdings Ltd. ( AHL ) achieve a Zacks #1 Rank (Strong Buy) on October 2. Moreover, the stock surged to hit its 52-week high ...

NC home insurance companies request rate increase
Insurance Commissioner Wayne Goodwin said Wednesday that consumers have until Oct. 19 to offer their views on the request by the North Carolina Rate Bureau, which represents insurance companies. The state Insurance Department will decide whether ...

Experts: Citizens insurance increase will hurt home sales
A scheduled rate increase next year by Citizens Property Insurance Corp. could scuttle some home sales, especially among buyers who may be stretching to snap up Southwest Florida's rapidly diminishing inventory. Real estate agents and lenders alike say ...

India Pushes Economy Opening With FDI Insurance, Pension Plans
Ministers will consider allowing overseas companies to own as much as 49 percent of local insurance ventures, from the current 26 percent, and for the first time permit foreign direct investment of as much as 26 percent in pension funds, according to ...

Health insurance fact sheets now required to aid consumers
"When insurance is described using the same format for each plan, it makes it so much easier for consumers to compare," said Lynn Quincy, senior health policy analyst for Consumers Union, a division of Consumer Reports. The fact sheets will clearly ...

Catholic Health eyes 'tiered' insurance plans to control costs
Catholic Health, its affiliated doctors and Independent Health announced Wednesday that they will offer a new health insurance option next year that lowers premiums in exchange for a more limited number of hospitals. “Narrow” or “tiered” network health ...

Obama: Seniors 'stuck' at 'mercy of insurance companies' under Ryan
"When you move to a voucher system, you're putting seniors at the mercy of those insurance companies and over time, if traditional Medicare has decayed or fallen apart, then they're stuck," Obama said. Under Romney's plan, seniors would choose between ...

Policy holders need safeguards in new life insurance norms: Experts
Chennai, Oct 4 — The insurance regulator has to put in various safeguards for the policy holder while changing rules to comply with the government's recent decisions on life insurance, industry experts say. The Insurance Regulatory and Development ...

Compare insurance costs before buying a new car
Answer: I'm a big advocate of shopping around for auto insurance as part of the research one does before buying a car. If you wait until you've decided on one certain car, or worse yet, already purchased a new vehicle, you may find out your auto ...

Exclusive: Euro zone considering bond insurance for Spain - sources
MADRID/PARIS (Reuters) - The euro zone is considering aiding Spain by providing insurance for investors who buy government bonds in a move designed to maintain Spanish access to capital markets and minimize the cost to European taxpayers, ...