Insurance Companies 2007

2007-09-23 Health care does not belong to the insurance companies

My son-in-law cannot get health insurance because of a prior medical incident. And it makes sense. The purpose of an insurance company is to make money for the insurance company. The company sells a product, and it has smart people who know statistics and can make sure that the odds are in the companys favor. The public relations campaigns of insurance companies as they relate to health coverage may suggest that the companies have the health of the public in mind, but just about everybody had learned from personal experience that an insurance companys first priority is not immediate attention to your health. Such an attitude is fair enough with cars and houses and jewelry and other things, but health What in the world has led us to a health care system that depends on insurance companies No other country in the industrial West

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2007-06-17 Financial Express

In addition to modern laws and better regulation, the insurance companies need to be innovative in expanding their business activities. Until now, the general insurance companies are dependent on policies that have been made mandatory by the government. Beyond that they do not have any business. The chief adviser to the caretaker government the other day, while talking to the leading insurers, urged the insurance companies to innovate attractive insurance products for the people at the grassroots who are vulnerable to natural calamities. Insurance is a word that is almost unknown to the rural population. Even the affluent people in rural areas are not familiar with life insurance policies. However, some sharia-based life insurers are now trying to make inroads in rural areas. But what the rural people need most is the risk coverage

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2007-12-24 NIGERIAN TRIBUNE - Business and Economy

It will be recalled that the Federal Government, through the former minister of finance, Ngozi Okonjo- Iweala, announced a new capital base for all the categories of insurance businesses in Nigeria . The decision of government was borne out of the fact that the industry has suffered a great set back and with little to add to the gross domestic product of the nation and rsquo;s economy, owing to the poor capital base. Therefore, the government made it mandatory for all life companies to shore up their capital base to N2 billion, general companies were mandated to increase theirs to N3 billion, while re-insurance companies to N10 billion. The exercise, which was scheduled to end on was concluded as planned. Out of the 168 insurance and re-insurance companies that set out for the exercise, the National Insurance

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2007-01-22 Vanguard - Business : Nigerian economy cannot survive without insurance sector Mohammed Kari

Why are insurance operators clamouring for outstanding premium as capital base when they know the law did not provide for it If outstanding premiums are from brokers, brokers go to NAICOM for renewal and part of the requirement for brokers is ensuring that they cleared their outstanding with insurers. NAICOM knows there are outstanding premium in the market. If it approves the outstanding premium and those premium are not recovered in future, what happens to such companies Who are we deceiving The banks already are more attractive to investors than insurance and there is no basis for the banks to demand that kind of assistance. The insurance companies evidently have a problem. The regulator can testify to that. This is likely going to threaten the Insurance sector. It is time for the government to

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2007-05-01 Why California Needs Universal Health Care

State Senate President pro tem Don Peratas Senate Bill 48 would cover Californians who are employed, as well as their dependants. Employers could either spend a percentage of their payroll toward employee health insurance or pay an equivalent amount into a health care trust fund. The fund would then buy a few insurance plans from private insurance companies, and uninsured employees would be required to pick one. Insurance companies wanting to offer coverage through the fund would be required to restrain administrative expenses and provide a basic level of benefits. Working individuals would be required to purchase coverage for themselves and their dependants. The plan also expands childrens eligibility for existing public programs. The bill does not indicate if all employees must be

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2007-01-30 Chinese insurers keen on stock investment_InsightChina Economic Net

The fact that China Life A-share was successfully listed showed again the significance of stock financing channels in supplementing capital funds. Following China Life A- share IPO, Ping An Insurance will also start business in A-share market. Professor Hao Yansu, director of Insurance Department in Central University of Finance and Economics said, in 2007, there would be more insurance share in A-share market, including Taikang Life Insurance Co. , Ltd. , Xinhua Life Insurance Co. , Ltd. , China Reinsurance (Group) Company, Tianan Insurance Co. , Ltd. and China United Property Insurance Company etc. Besides, insurance capital will go deeper into the share market. Recently, a research report from CITIC Securities showed, as the investment research groups of insurance assets management companies including China Life,

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2007-07-01 Denialism blog : Michael Moores Sicko (or why Orac should relent and go see this movie)

As I am going into medicine and one day will treat patients, Id like to say Id rather be paid a half or even a quarter of what would be expected if I could practice medicine unimpeded by the incessant fight for reimbursement, and the constant second-guessing of medical care by insurance companies that only want to deny, deny, deny. Medical education in such a system would have to be free, this another point made by the movie, debt is used to chain people to unjust systems. As much as free-marketers talk about "choice" there is no choice in our current system. If you lose your job, you lose your insurance. If you fight with insurance companies and get dumped you lose your safety net. If you are poor you have no choice. If you have debt you have no choice. Who cares if I got paid less, at best I could again be proud of my

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2007-05-26 Dar Al Hayat

The huge losses suffered by insurance companies drew the attention of regulating bodies in the country to the dangers to which this important sector is exposed and, generally speaking, its reflections on the national economy if these companies random investment policy continued. The Ministry of Economy, in cooperation with the Association of Insurance Companies, is striving to set criteria to structuralize these companies investments, especially since the studies carried out by impartial bodies have shown that a small percentage of this kind of companies have a person responsible for investments, as most of them rely on the companys secretary general or the chairman of the board of directors when it comes to managing investments. These studies described a small percentage of insurance companies as following a written investment

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2007-10-31 Doug Bremner: Are These People Completely Out of Their Minds - Politics on The Huffington Post

Yesterday it was reported that Hillary Clinton was out in front of the pack of presidential candidates in terms of political contributions from the healthcare industry. Shes got a whopping usd. 2. 7 million in contributions, ahead of Obama with usd. 2. 2 million, Romney usd. 1. 6 million, Giuliani usd. 1. 4 million, McCain usd. 0. 9 million, Edwards usd. 0. 6 million, and Richardson usd. 0. 6 million. You see, in spite of the fact that during the time of BILL she was ready to take a hatchet to the insurance companies (a tap which they surely deserved), now the insurance companies (as well as the other Gang of Four, which includes the AMA, hospitals, and pharmaceutical companies), are falling over themselves to shower her with dollars. You see they have figured out that she may win, and that the democrats may take over Congress and the Senate. Then they would really

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2007-04-28 Financial Express

The key areas of performance of a life insurance company are investment return, mortality, morbidity, management expenses and persistency. Comparisons among the peer companies in these areas are extremely difficult and almost impossible for various reasons. For example, life insurance companies are to invest 30 pct. of their investible funds in government securities where rate of return is comparatively much lower. Takaful Companies, for obvious reasons, cannot invest on interest based securities. Therefore, they have opted for investing in Mudaraba Bond, where the rate of return is extremely low. As a result, Takaful life companies investment return will be always much lower in comparison with their competitors.

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