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Insurance News 12/2012



Letter: The health insurance mandate originated as a Republican proposal
Why the Affordable Care Act embraces personal responsibility: The No. 1 talking point for Republicans, conservatives, libertarians, etc., is that Americans need to take responsibility for themselves. Why should "the working class" have to support the ...

Some California earthquake insurance rates are dropping
SACRAMENTO -- In California, two earthquake insurance companies are lowering their rates. Insurance Commissioner Dave Jones announced Friday that he approved a 15.5% rate reduction for Chubb Insurance. The average annual premium will fall to ...

Ark. school teacher questions cost of insurance
LITTLE ROCK, Ark. (AP) — A northern Arkansas public school teacher wants to know why public school employees pay more than twice as much for insurance as state employees and what state lawmakers plan to do about it. The Arkansas Democrat-Gazette ...

A Health Insurance Detective Story
I'VE had a long career as a business journalist, beginning at Forbes and including eight years as the editor of Money, a personal finance magazine. But I've never faced a more confounding reporting challenge than the one I'm engaged in now: What will I ...

For Minnesotans, health insurance will be a few clicks away
More than a fifth of Minnesotans will sit down at a computer, or talk to someone using a computer, a year from now answering a series of questions and deciding the right health insurance to buy. And if state planners get their wish, they should be ...

Health insurance hikes planned
The premiums that Terrebonne Parish Consolidated government employees' pay for health insurance are expected to climb 5 percent over the next three years. During the Parish Council's committee meetings Monday at the Government Tower, council ...

Looming health insurance mandate worries small businesses
Rose Wang looks at her staff of 70 employees and wonders if she'll have to lay off some of them to comply with the health care law. The owner of Binary Group, an information technology firm based in Alexandria, Va., is one of many small-business owners ...

Broken trust in Citizens Insurance
The new president of Citizens Property Insurance Corp. blew an opportunity last week to tell Florida property owners why they should continue to have confidence in the state's "insurer of last resort," given its record of lax management and lavish ...

Health insurance subsidies may get cut
MONTPELIER — Gov. Peter Shumlin says state health care subsidies for working-class Vermonters might be more generous than they need to be, and that some residents here could soon be facing higher insurance premiums and deductibles. Administration ...

Guest column: Education on Role of Public Insurance Adjusters Remains Priority
Earlier this year, the Florida Association of Public Insurance Adjusters (FAPIA) approached its 20th anniversary. The leadership took a deep look at our founding principals as an organization – namely, our commitment to protecting consumers while ...

Glance: Status of insurance exchanges and Medicaid expansion in Obama's ...
Glance: Status of insurance exchanges and Medicaid expansion in Obama's ...

Scott Burns: Long-term care insurance on the wane
Is this the winter of long-term care insurance? It sure is quiet. In most years, my mailbag will have a healthy dose of questions about buying long-term care insurance. This is entirely reasonable. On the one hand, our ever-lengthening life ...

A deluge of misinformation on flood insurance
When both the tree-hugging Sierra Club and the free-market Cato Institute agree something is a bad idea, you can be pretty sure it's a bad idea. Such an idea is federal flood insurance. "This is one area we agree with Cato on," said Jeff Tittel of the ...

Schultz commentary: At Citizens Insurance, the policy isn't service
Tuesday's meeting of the Citizens Property Insurance Corp. board featured so many hilariously ironic moments that it's hard to pick just one. But let's try. Tom Lynch, who owns a Delray Beach-based insurance agency, raised questions about the state-run ...

Employers Weigh Providing Health Insurance
Most employers, even small businesses, already offer health insurance, and the federal law is not expected to have a significant impact on what they do over the next year or so. But businesses that rely heavily on low-income workers, many of whom do ...

Insurance worries amid rising waters in Britain
If a deal isn't struck by the end of June, as many as 200,000 people in Britain could lose their insurance or find it too expensive to pay premiums that are certain to rise without government guarantees. All this comes as the European Environment ...

After Canceled Marathon, a New Race Over Insurance
At stake in negotiations among the running club, insurance broker Lloyd's and the members of its syndicate is the financial health of one of the country's foremost athletics clubs, as well as some $15 million in nonrefundable entry fees that runners ...

State-federal insurance exchange lessens flexibility, experts say
A federal-state health insurance exchange for Michigan is expected to be up and running in October 2013, but the state's health plans, employers and individuals will find less flexibility than if the state had approved its own exchange, several experts ...

Local insurance company rebranded to reflect recent changes
Charlottesville-based Lee Insurance Services has rebranded as Indaco Risk Advisors and recently moved into a newly renovated former medical building on Locust Avenue near the former Martha Jefferson Hospital. Company leaders say the rebranding is ...

States still jittery after HHS issues regulations
That's the word from the National Association of Insurance Commissioners meeting near Washington, D.C., last week, where commissioners from around the country told POLITICO that the Department of Health and Human Services has left large holes in its ...

Gov. Scott, panel call for insurance reforms
Speaking at the Florida Chamber of Commerce insurance summit at Disney, Scott said a concerted effort needs to be made to inform insurance policyholders that state efforts to shore up the market in some of the most hurricane prone regions of the state ...

Coffee or Car Insurance? Cost is About the Same
Over a lifetime of driving -- age 16 to 78 -- the average person will spend about $94,000 on insurance, according to data gathered by CarInsurance.com. The analysis of nearly 200,000 car insurance quotes sorted customers by age, then added up average ...

American National Insurance Company (ANAT) Ex-Dividend Date Scheduled for ...
American National Insurance Company (ANAT) Ex-Dividend Date Scheduled for ...

NFP Health Sponsors America's Health Insurance Plans' 2012 Fall Forum
(NYSE: NFP), a leading provider of benefits, insurance and wealth management services, announced today that NFP Health, a wholly owned subsidiary of NFP, is a sponsor of America's Health Insurance Plans' (AHIP) 2012 Fall Forum, which will take place ...

Newsbyte: Insurance Solution from SAP Helps Insurers and European Officials ...
Newsbyte: Insurance Solution from SAP Helps Insurers and European Officials ...

Equifax and OneBeacon Professional Insurance Announce Data Breach ...
Equifax and OneBeacon Professional Insurance Announce Data Breach ...

Insurance commissioner recommends small workers' comp rate hike
Insurers providing workers' compensation coverage should raise average base rates for 2013 by a modest 2.8 percent, California Insurance Commissioner Dave Jones advised on Friday evening. Jones recommended a pure premium rate of $2.56 per $100 ...

Want to cut your car insurance bill? Shop around
Auto insurance is one of those things you buy and then forget about. We have coverage, so we figure there's no need to worry about it again. That could be a costly mistake. “Shopping is very important because insurance company pricing is wildly ...

George Johannesen, Declared Dead By Insurance Company, Is Alive And ...
George Johannesen, Declared Dead By Insurance Company, Is Alive And ...

Gigantic Health Insurance Companies Might Not Be So Bad, After All
Among other things, Austin Frakt has taught me to view the healthcare market as a competition between providers and insurance companies. If you have a market served by lots of hospitals and only one or two insurance carriers, then the insurance ...

How Car Insurance Could Inspire Us to Drive Less
As Randall Stross of the New York Times reports, car insurance companies are offering customers a trade: less privacy for lower premiums. Drivers who install a monitoring device that records when, how far, and how fast they drive -- but not where ...

Questions and answers about insurance premiums and the Affordable Care Act
This week I answer readers' questions about picking an insurance plan when leaving a job, small-business health insurance coverage requirements under the Affordable Care Act and salary-based premiums. My husband and I have been covered through my ...

Most Americans support contraception insurance for all
A new survey finds most Americans back a federal mandate that businesses and faith-based non-profits offer employees insurance coverage for contraception, even if it conflicts with their beliefs. pills. A new survey finds most Americans support the ...

Collecting on travel insurance is not smooth sailing
Bill and Sally Mathews paid $1,140 for travel insurance as part of about $12,600 they plunked down in March for a July cruise along the Danube River with Grand Circle Cruise Line. "We've never had to use travel insurance," Bill Mathews, 85, of Redondo ...

"Future Generations Have To Deal With The Financial Carnage"
“The insurance industry weathered the financial crisis well precisely because of the careful reserving state regulators have historically required,” said Benjamin Lawsky, superintendent of the New York Department of Financial Services. “To ignore the ...

Islands at Doha talks seek climate-damage insurance program
DOHA, Qatar — Islands most vulnerable to rising sea levels are pushing for a climate-damage insurance program, adding to pressure on industrial nations to boost aid committed to fight global warming past $100 billion a year. The islands propose a ...

Health insurance could be a click away in 2013
Health insurance could be a click away in 2013. If planners get their wish, they should be getting more choices in an easier-to-understand format than they could today in what will be called a health insurance exchange. By: Don Davis, Forum ...

Injuries, insurance and tourism - how predictions about Michigan's new helmet ...
Injuries, insurance and tourism - how predictions about Michigan's new helmet ...

Munich Re, Repower Agree First Offshore Wind Insurance
Munich Re insured Repower Systems SE turbines at a farm being built in the German North Sea and will pay to repair or replace faulty machines, the insurer said today in a statement. The company is also developing insurance against delays when ...

Court blocks health insurance cost hike as it considers SC employees' suit
More than 234,000 state employees will not have to pay an extra $7.24 a month for their health insurance next month, pending the outcome of a lawsuit challenging the increase before the state Supreme Court. The justices temporarily halted the scheduled ...

Problems In Life Insurance
That said, I am not presently practicing inside a life insurance company, so as I write this, there may be some things that I get wrong. There are two areas that concern me in life insurance accounting at present. The first is that there is no good way ...

Most of A-Rod's owed money insured
However, Rodriguez would have to be disabled for at least a full season before the team could begin to collect on the policy it has with Team Scotti, a Pittsburgh-based insurance firm that provides insurance to Major League Baseball teams. It is ...

RLI Partners with Recreation Insurance Specialists to Provide RV Insurance
RLI Corp. has formed a new partnership with Recreation Insurance Specialists (RIS), a specialty recreation vehicle (RV) insurance agency that will allow RLI to underwrite RV insurance for RIS. RLI has hired Eric Raudins to manage the new product line ...

Utah: BP Amoco double-dipped on insurance
The civil suit, filed by the Utah Attorney General's Office in 3rd District Court on behalf of the Division of Environmental Response and Remediation, says the company illegally took $1.5 million from the state's Petroleum Storage Tank Fund, a state ...

The Importance of Unemployment Insurance for American Families and the ...
The Importance of Unemployment Insurance for American Families and the ...

Hillsborough woman admits scamming car insurance out of $39000
A Hillsborough woman may be sentenced to 50 hours of community service and be ordered to pay more than $39,000 in restitution after copping a plea to defrauding her car insurance company. Maria Demeter, aka Maria Schebece, 42, was charged with ...

The Perilous Politics Of The Health Insurance Tax Break
There's not much in health care that economists agree on. But one of the few things that bring them together is the idea that excluding the value of health insurance from federal taxes is nuts. "It just doesn't make sense," says Jonathan Gruber, an MIT ...

Tennessee Needs Its Own Health Insurance Exchange
By "our court" we mean the state of Tennessee, and the ball is the Affordable Care Act, aka Obamacare, which has been volleyed at the federal level between Congress, the Supreme Court and the presidential election. Now the Tennessee governor and the ...

Florida Legislators May Let Citizens Property Insurance Hike Rates
Members of a key House panel made their remarks after listening for more than two hours to proposals from Citizens Property Insurance officials about ways to shrink the size of the state-created insurer. Citizens has nearly 1.5 million policyholders ...

Thai Group Buys Ping An Stake from HSBC for $9.38 Billion
A conglomerate controlled by Thailand's richest man, Dhanin Chearavanont, has bought a minority stake in China's Ping An Insurance for $9.38 billion from global bank HSBC, a bold move that ranks as Asia's second-largest deal this year. Dhanin's Charoen ...