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Insurance News 07/2014



Jameis Winston buys NFL draft insurance policy
If Winston doesn't get healthy, and doesn't go in the first round of the draft as a result, he can cash in on an insurance policy worth $8-$10 million. That's the word from Yahoo Sports, which reports that Winston has purchased a disability and loss of ...

European Insurance Federation Opposes Compulsory Environmental Liability
“An EU-wide compulsory environmental liability insurance system would not benefit customers and so should not be introduced,” according to Insurance Europe, the European insurance and reinsurance federation. The federation consists of 34 members, ...

Longevity Insurance Joins the Menu of Retirement Plan Options
New tax rules will make it possible for workers to buy a type of annuity often called longevity insurance inside their retirement plans. The annuity aims to protect people from exhausting their savings in their later years. Longevity insurance is ...

Using Gifts, Insurance to Pass On a Family Business
To compensate his sisters, Mr. Freeman suggested that the client take out two guaranteed universal life insurance policies on his father, who was still in good health and insurable. The policies, each with a $3.3 million payout--would be put in ...

How to Understand Your Health Insurance Plan
Health insurance can provide peace of mind, but having coverage doesn't mean all medical costs are covered. “It's very common for people to operate under the mistaken belief that having health insurance means they'll automatically get help paying for ...

Why cyber-insurance will be the next big thing
Earlier this year, New York City-based staffing agency Clarity bought cyber-insurance for the first time. This spring it added more coverage. "We were actually hearing about it from our clients," said Elizabeth Wade, Clarity's operations manager. "They ...

Village of Oakley gets insurance coverage on day of cutoff deadline, official says
OAKLEY, MI — After spending several hours without property and liability insurance coverage, the village of Oakley has secured an insurance policy, according to the acting board president. "We're just happy," President Pro Tem Sue Dingo said ...

Arkansas lawmakers approve teacher insurance plan
LITTLE ROCK — A plan to avert a 35 percent increase in health insurance premiums for thousands of Arkansas teachers easily won support of the House and Senate on Tuesday, as lawmakers neared the end of the second legislative session in the last year ...

Eligibility for Health Insurance Was Not Properly Checked, Audit Finds
WASHINGTON — An independent audit of insurance exchanges established under the health care law has found that federal and state officials did not properly check the eligibility of people seeking coverage and applying for subsidies, the latest ...

The Illogic of Employer-Sponsored Health Insurance
The argument is that the premiums ostensibly paid by employers to buy health insurance coverage for their employees are actually part of the employee's total pay package – the price of labor, in economic parlance – and that the cost of that fringe ...

Protect Your Stuff: Credit Cards With the Best Baggage Insurance
So if you want to take the guessing out of your baggage insurance, here are some credit cards and insurance companies with plans that cover your valuables on domestic flights. Sorry, international flights are a whole other bag of chips. (Note: If your ...

ING's insurance arm begins trading as NN Group
AMSTERDAM (AP) — The insurance arm of Dutch financial firm ING has begun trading as the independent company NN Group, effectively completing ING's split into a bank and an insurance company, as required by EU authorities. ING raised around 2 ...

Ark. lawmakers fund teacher insurance, prisons
A plan to avert a 35 percent increase in health insurance premiums for thousands of Arkansas teachers easily won support of the House and Senate on Tuesday, as lawmakers neared the end of the second legislative session in the last year to assist the ...

Obamacare creates 65 more jobs at Syracuse health insurance administrator
Syracuse, N.Y. — Obamacare is bringing 65 more jobs to POMCO Group, the health insurance administrator based in Syracuse's Eastwood section. The company, one of the nation's largest independent benefits administrators, said it will add 65 employees to ...

2 Iowa insurance firms back startup accelerator
Officials with an insurance startup accelerator starting next year in Iowa announced a fifth backer on Monday, and a sixth on Wednesday. Grinnell Mutual Reinsurance Company and IMT Insurance Company of West Des Moines will join the Global Insurance ...

When Is Health Insurance Too Affordable?
CHATTANOOGA, Tenn. — Angela Allen has two painful slipped disks in her neck, but her regular spine doctor does not accept the new insurance she bought through the federal health marketplace. “It's been a nightmare,” said Allen, a 42-year-old office ...

Need for ballot measure on health insurance rate regulation debated
Kicking off a major ballot fight this year, California lawmakers pressed the state's insurance commissioner to defend a proposal that would grant his agency sweeping new authority over health insurance rates. At a legislative hearing Wednesday, backers ...

Real Estate Matters | Lack of homeowner's insurance sparks dispute with lender
In the year of 2013 (the entire year) I had no homeowners insurance. So last February, my mortgage company placed a lender-based insurance policy on my escrow to cover last year. Because of this my escrow has fallen into the negative and my mortgage ...

An Uncertain Future Of The US Terrorism Insurance Program
His family has trophy properties, like One World Trade Center, Bank of America Tower and the Condé Nast Building, all around Manhattan. All his occupied buildings have terrorism insurance. And he says without the federal government providing a backstop ...

Ward agrees with Winston to purchase insurance policy
Prior to his senior season at Florida State in 1993, quarterback Charlie Ward made the decision to purchase an insurance policy to protect himself and his potential future earnings against the possibility of a career-ending injury. Ward, of course, led ...

Dutch ING Insurance Split Creates Attractive Banking Asset
Dutch financial group ING has put a first part of its insurance unit NN on the Amsterdam market, raising 1.5 billion euro in one of the largest market introductions this year. The group plans to cut its remaining stake from some 74 percent to below 50 ...

Get ready, Hoosiers, for a health insurance jolt
Once that happens, Hoosiers will likely leave the insurance market in droves. They'll have little choice — they won't be able to afford health insurance because federal subsidies won't keep up with the rapid price increases. Within a decade, this ...

Why Insurance Companies Are Interested in Facial Recognition Technology
While the government, law enforcement and social media have been strong players in developing and using facial recognition software, as the technology advances other industries are looking into its possibilities as well, namely the health and insurance ...

An Uncertain Future For The US Terrorism Insurance Program
If terrorists were to attack a U.S. city again, who would pay for catastrophic damage? In the aftermath of the Sept. 11, 2001, attacks on New York, Congress provided the answer: the Terrorism Risk Insurance Act. While most ordinary people will never ...

Does Your Insurance Protect Your Home From Hurricane Or Other Storm Damage
There are many things you need to do to prepare for a storm of any kind, but checking your insurance policy is critical in making sure you're able to recover if your home, apartment or business has damage. And it's something some people in Eastern ...

Justin Ross & Leanna Harris Had A $25k Life Insurance Policy For Cooper
... openly laid out their case against him. Among the shocking new details revealed against Justin in the alleged murder of his son, Cooper Harris, 22 months, is that he and his wife, Leanna Harris, had not one but two life insurance policies for their ...

Hurricane Season: Why You May Need Flood Insurance
Hurricane Arthur is roaring up the East Coast. It has forced millions of people to worry about the risk to their homes and businesses. And it's a reminder about the importance of gauging your need for flood insurance. Why? Because standard homeowners ...

Health insurance rate requests vary widely
The Oregon Insurance Division is midway through its health insurance rate review process, and it's time that we take a look at what's in the hundreds of pages of data and information that carriers have filed with the state. As a refresher, Oregon has ...

Car insurance scam involved one con, many women
"Eventually he would call the ladies eventually and say I had an accident in your car, you have to call the insurance company, this is how the accident happened," said Bodon. He would give them very detailed information. "A lot of these ladies didn't ...

Insurance Isn't Safe from Digital Upheaval
We estimate that up to $400 billion in insurance premiums could change hands within the industry over the next year. According to a global survey we conducted, more than two-thirds of customers would consider buying insurance products from non-insurers ...

Dad Charged in Son's Hot-Car Death Asked About Life Insurance: Warrant
Justin Ross Harris, the Georgia father accused of murdering his toddler by leaving him in a sweltering SUV, had asked family members how to cash in on the boy's life insurance policies, investigators said. The disturbing detail was revealed in search ...

Banco Itaú of Brazil Sells Insurance Unit to Ace
SÃO PAULO, Brazil — Banco Itaú of Brazil, Latin America's largest private-sector bank, announced Friday that it is selling its high-risk corporate insurance unit, Itaú Seguros Soluções Corporativas, for about $685 million to Ace Limited, an insurance ...

Warrants: Toddler's dad told family how to collect $27K life insurance
“Through the investigation Harris has made comments to family members regarding a life insurance policy that he has on Cooper and what they need to do in order to file for it,” according to documents obtained by The Atlanta Journal-Constitution ...

Widow sued by late husband's insurance company
ACE Insurance, Burger king's insurance company, is appealing the ruling from the Texas Division of Workers Compensation and has filed a lawsuit against Crystal and her children, requesting to cease all past and future benefits. They're claiming Wayne ...

Hot Car Dad Had Two Life Insurance Policies on His Son
Hot Car Dad Had Two Life Insurance Policies on His Son. Search warrants allege Ross Harris talked to his family members about his dead son's life insurance policies. About Us · Careers · Contact · Privacy Policy – UPDATED · Terms of Service · Site Map ...

Cancer survivor returns to Summerfest with disability insurance message
He lost his job, family and house within years and now lives on Social Security insurance because, he said, he made a key misstep: He hadn't made the decision to acquire long-term disability insurance. Sweaney, 47, currently lives and volunteers in ...

Health law raises auto insurance concerns in Michigan
The study identifies several ways in which the changes to health insurance will drive the downward trend. The simplest and most direct effect is that previously uninsured Michiganians will now be getting medical care when they need it, rather than ...

5 Things to Know on Children's Life Insurance
Policies for children represent a small fraction of the life insurance market, but they made the news this week after a court hearing for a Georgia man accused of killing his young son by leaving him in a hot car. Testimony and court documents revealed ...

Mass. to issue new rules for long-term care plans
Draft regulations to rein in the rapidly rising costs of long-term care insurance don't include what many policyholders and consumer advocates wanted: a plan to cap rate increases. The rules, proposed this week by the state Division of Insurance, would ...

Doctors' Goodwill Expo To Present Health Insurance Event
Health insurance providers and experts will be featured in a special area where they can meet the public, answer their questions and assist people navigate through the Health Insurance Exchange and Medicare options available. “Due to the myriad of ...

Viewpoints: Brace for much higher health insurance premiums
Once that happens, Californians will likely leave the insurance market in droves. They'll have little choice; they won't be able to afford health insurance because federal subsidies won't keep up with the rapid price increases. Within a decade, this ...

Why your job dictates your health insurance cost
But the data also underscores the often big differences that exist among the eight industry categories in the total dollars spent on health-care costs—which comprises the employers' cost of insuring a worker, and what the employee pays in insurance ...

In lawsuit, Connecticut man seeks health insurance without fee for coverage of ...
In lawsuit, Connecticut man seeks health insurance without fee for coverage of ...

Mich. auto insurance
The study identifies several ways in which the changes to health insurance will drive the downward trend. The simplest and most direct effect is that previously uninsured Michiganians will now be getting medical care when they need it, rather than ...

Conn. sentencing for attorney in insurance fraud
Prosecutors say Haddad, a Bridgeport-based personal injury attorney, conspired with chiropractors and others to defraud insurance companies by exaggerating the auto accident injuries of his clients and the cost of their medical care, to justify larger ...

Niagara governments flocking to health insurance study
LOCKPORT – Several municipal governments in Niagara County, as well as the county itself, have signed up to take part in a study to determine whether it would be feasible for all of them to join in a single health insurance plan – especially because ...

Dad of son left in car told family to collect life insurance
"Through the investigation Harris has made comments to family members regarding a life insurance policy that he has on Cooper and what they need to do in order to file for it," read one of the search warrant affidavits. The Cobb County magistrate's ...

Tips when considering life insurance
Yet the distribution model has changed during the past few decades, and fewer Americans are relying on local financial advisers in their community to look at their overall financial situation and recommend a life insurance strategy, said Brian ...

Why you pay so much for auto insurance
Mississippi leads the nation in uninsured drivers with 28 percent, according to the Insurance Research Council, but Chaney believes the real number in Mississippi is as high as 35 percent. See also: Accidents with uninsured motorists common. Under ...

Winning homeowner's insurance claim takes time — and savvy
Many consumers shop for home insurance once, then forget about it. Home-loss claims are uncommon to begin with, and losses tend to be relatively small. Push comes to shove, however, on the biggest losses. In a Consumer Reports survey, the 6 percent of ...