Insurance Companies

2008-11-20 Insurance Companies Switching To New Strategies In Difficult Times

This is good news for consumers, particularly since it has been estimated by MoneySupermarket that approximately 75 pct. of them will keep their existing insurance plans, year after year, regardless of how high premium prices go. This is particularly true of home insurance where premium rates can skyrocket after the first years worth of introductory discounts that will generally include an online purchase deduction plus a flurry of cost offsetting shopping vouchers. Given the state of the housing market, the news that some companies are working to change the status quo will certainly be well received by homeowners.

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2008-11-20 Cozen OConnor Announces Further Business Department Expansion - MarketWatch

According to Michael Heller, chair of Cozen OConnors business department, the firm is very excited to have Potts and Pezzuolo, with their specialized talents and experience on board. "They will be integral members of our rapidly growing commercial and business practice. Also, their vast experience representing organizations across the industry, ranging from property and casualty insurance companies, to HMOs and risk retention groups as well as insurance producers, brings our insurance and corporate regulatory strategic business unit great value. "

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2008-11-20 Insurers find path to bailout billions - MarketWatch

The participation by these insurance companies in TARP is likely to raise the ire of some lawmakers on Capitol Hill. The House Financial Services Committee is holding a hearing Tuesday on TARP oversight, while the Senate Banking Committee plans to conduct a hearing Wednesday on the nomination of Neil Barofsky, assistant U. S. attorney for Southern District of New York, to be a special inspector general for TARP.

As a result, a number of large insurance companies have approached the Office of Thrift Supervision recently to find ways to gain a piece of the bailout plan. People familiar with the situation say the companies were told that buying a struggling savings and loan bank or association would make them eligible for government investment.

www.marketwatch.com

WASHINGTON (MarketWatch) -- At least three insurance companies have applied to the Office of Thrift Supervision to buy individual savings and loan companies as a means of getting large capital infusions from the Treasury Departments usd. 700 billion Troubled Asset Relief Program.

2008-11-20 Minyanville - Market Commentary, Investing Ideas, Global Finance, The Economy

Large insurance companies are snatching up small regional banks to speed up their transition to savings-and-loan holding companies, thereby qualifying them for capital infusions from Washington.

Insurance companies take in premiums from policy-holders, which they then use to buy up securities. As long as the income generated from those investments covers their payouts on claims, they turn a profit. Traditionally believed to be stogy, conservative firms, in recent years insurers dabbled in risky securities to juice profits. Using leverage, they added mortgage-backed securities to their core holdings of highly-rated corporate bonds.

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2008-11-20 A. M. Best Affirms Ratings of Rockhill Insurance Group and Its Members - MarketWatch

The rating affirmations recognize the recent announcement that State Automobile Mutual Insurance Company (State Auto Mutual) (Columbus, OH), the lead member of State Auto Insurance Companies (State Auto), has entered into a definitive agreement to acquire Rockhills parent, Rockhill Holding Company (RHC). State Auto intends to retain Rockhills management and associates, operating Rockhill as a stand-alone subsidiary of State Auto Mutual. State Auto Mutual does not plan to pool Rockhills operations with those of State Autos for the foreseeable future. The acquisition is subject to customary regulatory approvals and is expected to close in first quarter 2009.

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2008-11-17 Health-care reform with Obama administration - El Paso Times

Under the Obama-Joe Biden plan, El Pasoans would have coverage similar to the Federal Employees Health Benefits Program - Obamas aim toward universal health coverage. The plan would require insurance companies to cover pre-existing health conditions, would help small businesses provide health insurance to their employees by creating a Small Business Health Tax Credit, and would mandate that all children have health coverage, according to the Obama Web site.

State Sen. Eliot Shapleigh, D-El Paso, says that many insurance companies deny claims and that the costs are being transferred to patients. He says people pay hundreds of dollars for medical costs.

www.elpasotimes.com

Health-care reform with Obama administration

2008-11-17 WAFB Channel 9, Baton Rouge, LA Mortgage companies frustrating some homeowners with the way they disperse insurance checks

Whitehurst had the roof repaired on Thursday. The rest of the repairs to his home are nearly complete, but this tugboat worker says hes shipping out Saturday for a two-month mission. He wont be home for Christmas because hell be working to pay the bills. HomEQ representatives are handling his case out of Irvine, California. Whitehurst says when he talks to them on the phone they tell him that cutting insurance checks and disbursing them in thirds is "standard procedure," which is the case with a lot of mortgage companies.

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News from Baton Rouge, weather, sports, community calendar, jobs, cars and more. - WAFB television Louisiana

2008-11-16 Bumper Battleground - Why Insurance Companies And Automakers Dont Get Along Best Syndication

Federal government standards used to prohibit all except minor cosmetic damage to the bumper itself in 5 mph tests. But in 1982, standards were rolled back to 2. 5 mph (4 km/h), and allowed unlimited damage to the bumper and attachments. Note: These requirements only apply to automobiles - there are NO federal bumper requirements for Pickup Trucks, Mini Vans or SUVs. Carmakers loved the change - Insurance companies hate it.

If you dont have enough overhang, no matter what you have, youre going to have problems," says Mike Ciccone, special projects coordinator at the Insurance Institute For Highway Safety. "You need overhang, energy-absorbing material and a strong enough bumper beam. Those are three main elements. "

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Best Syndication News The smooth, flowing lines of most new cars and trucks conceal bumpers so well consumers rarely give them a second thought. But back into a pole in a Wal-Mart parking lot on a busy weekend and bumper design suddenly becomes an - Submit article news subscribe feeds RSS XML

2008-11-16 Jones: Ill hold insurance companies accountable as commissioner PolitickerCA California Politics News, Reaction, and Analysis

Jones, who formally filed paperwork to seek the job Thursday, said the insurance commissioner needs to both hold the insurance industry accountable and be willing to promote legislation that helps consumers.

Though the seat may be open with the move by current Insurance Commissioner Steve Poizner to seek the Republican nomination for governor in two years, Jones said he planned to run for the job either way.

Its not acceptable for someone to pay insurance premiums year after year, only to have it rescinded when they get sick," Jones said.

www.politickerca.com

Category:and Governor Local Teaser:and Assemblyman Dave Jones (D-Sacramento) said he has a role as a strong consumer advocate in mind in his bid to run for state Insurance Commissioner in 2010. Jones, who formally filed paperwork to seek the

2008-11-16 THE PULSE: Insurance Companies Balk At Autism

It is no surprise, then, why insurance companies often balk at the idea of taking on a family with a child with autism.

The group Autism Speaks has now gotten seven states to pass laws that forces insurance companies to cover treatment.

More states are considering bills that would require insurance companies to pick up the cost of behavioral therapies.

The insurance companies, meanwhile,argue this is more of an educational, rather than medical, need.

cbs2.com

According to some autism rights groups, caring for a child with autism, over a lifetime, can cost upwards of usd. 5 million when behavioral therapy, medical bills and education are factored in. It is no surprise, then, why insurance companies often balk at the idea of taking on a family with a child with autism. - Autism The Pulse Health Insurance Companies