Insurance Company

2009-01-04 Merger of Veritas Non-Life Insurance Company with Aktia Plc implemented

The merger of Veritas Non-Life Insurance Company with Aktia Plc has been implemented according to the merger plan approved by both companies Boards of Directors, and registered in the Trade Register on . At the same time, 6,800,000 new shares in Aktia Plc, series A, as well as an increase of the companys share capital by EUR 13,600,000 were registered. Hence, the total number of series A shares in Aktia Plc is now 46,924,418, and the companys total share capital amounts to EUR 93,848,836. The final number of shares issued as merger compensation may be lower due to possible cases of uncertain ownership in Veritas Non-Life Insurance Company.

www.webwire.com

The merger of Veritas Non-Life Insurance Company with Aktia Plc has been implemented according to the merger plan approved by both companies Boards of Directors, and registered in the Trade Register o. - The merger of Veritas Non-Life Insurance Company with Aktia Plc has been implemented according to the merger plan approved by both companies Boards of Directors

2009-01-04 Madison County Record Country Mutual sues driver over payout to its insured

Country Mutual Insurance Company has filed suit against Norman L. Cambron, alleging it was forced to pay medical bills of one of its insured clients after he got into a collision with Cambron.

Country Mutual Insurance Company had insured Engelmann and was required to pay for his medical bills in excess of usd. 50,000, the suit states.

Country Mutual Insurance Company is seeking a judgment in excess of usd. 50,000, plus costs and other relief the court deems appropriate.

www.stclairrecord.com

Madison County Record Illinois Court News Litigation-- Class Action, Asbestos, Medical Malpractice News - Madison County Record Illinois Court News Litigation Class Action Asbestos Medical Malpractice News

2009-01-04 Consumer groups protest life insurers plan to lower reserves - Los Angeles Times

Thats because state guarantee funds generally hold no assets in reserve. Instead, they assess surviving insurers when a company fails. And they are barred from assessing more than a set amount of the remaining companies assets. So when a big company fails, as Californias Executive Life Insurance Co. did in 1991, it can take years to pay off policyholders.

The issue is especially crucial because the safety net designed to protect you if your insurance company fails is nothing like the federal deposit insurance that protects the money you put in the bank.

www.latimes.com

Two prominent consumer groups are up in arms over proposals that would reduce the amount of money life insurers must set aside to pay future claims. - Money business

2008-12-29 Ike put insurance firms preparedness to the test Business Houston Chronicle

Managing director Jim Gleaves, left, and vice chairman Charles Flournoy of Wortham Insurance and Risk Management, look at a ceiling damaged by Hurricane Ike. Even though the insurance company suffered substantial damages to its offices, it was still able to provide customer support immediately after the storm.

Wortham Insurance, a local brokerage that finds coverage packages for clients, sometimes drawing on the resources of multiple insurance providers, experienced firsthand what some of its clients went through in the days and weeks after the storm.

www.chron.com

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2008-12-29 Third-party insurance doesnt cover your son when he drives your vehicle: SC-India-The Times of India

Writing the judgment for the Bench, Justice Sinha took note of a 2006 verdict in the case United India Insurance Co Ltd Vs Tilak Singh, in which the apex court had held that "the insurance company would have no liability towards the injuries suffered by the deceased who was a pillion rider, as the insurance policy was a statutory policy which did not cover gratuitous passenger".

The Jharkhand High Court sympathised with the grieving father and asked the insurance company to compensate the loss. This was challenged in the Supreme Court by New India Assurance Company arguing that "keeping in view the relationship between the deceased and the owner of the motor vehicle, that is father and son, the latter was not a third party. "

timesofindia.indiatimes.com

2008-12-29 Insurance company told to pay Rs 33,346 for vehicle repair-Chandigarh-Cities-The Times of India

According to the complaint, Walia got her vehicle insured for one year period in and Singh was appointed as sub-general attorney. Unfortunately, the vehicle met with an accident on near Landra road, Kharar. The FIR wasnt lodged, as the registration number of the truck, with which the vehicle met with an accident, could not be noted down. However, to Walias utter surprise, rather than making payment for repair of the damaged vehicle, the insurance company repudiated the claim for repair of the vehicle. She got the delivery of the vehicle after making payment of the bill. Alleging deficiency in services, a complaint was lodged under the Consumer Protection Act.

timesofindia.indiatimes.com

2008-12-25 CTZ,LFGRQ Fidelity National closes acquisition of LandAmerica Financials subsidiaries

Fidelity National Financial has completed the acquisition of LandAmerica Financial Groups two principal title insurance underwriters, Commonwealth Land Title Insurance Company and Lawyers Title Insurance, as well as United Capital Title Insurance Company.

The total purchase price for Commonwealth and Lawyers was approximately usd. 235 million. Chicago Title Insurance Company and Fidelity National Title Insurance Company paid a total of approximately usd. 135 million in cash to LandAmerica Financial Group (LFG).

William Foley, II, chairman of FNF, said: "The acquisition of these established title insurance franchises is a historic opportunity for FNF. This combination creates the largest title insurer in the US, with pro forma 2007 market share of approximately 46 pct. and dominant positions in both the residential and commercial markets. "

www.tradingmarkets.com

TradingMarkets News for CTZ,LFGRQ - Fidelity National closes acquisition of LandAmerica Financials subsidiaries - CTZ LFGRQ

2008-12-25 Fremont Michigan Insuracorp: High Quality Platform at a Bargain Valuation - Seeking Alpha

Fremonts strategy is to be very close to its independent agents, who know Michigan (and the company) extremely well. For instance, Michael Dekuipers White Agency is Fremonts largest producer. He sits on the companys board and is the father-in-law of CFO Kevin Kaastra. Two other independent agents, Donald C. Wilson, and Harold L. Wiberg, also sit on the companys board. These agents feed the company their choicest, most conservative risks--older, conservative drivers, with high insurance scores, who live far away from Michigans cities, in less accident-prone rural areas. Fremont has a full contact, high touch approach in initiating, maintaining, and supporting agency relations through the full spectrum of selecting agencies, communicating expectations about the quality of the business generated, underwriting, claims, and policy

seekingalpha.com

2008-12-25 The Columbus Dispatch : Retire Smart: Buyer beware on long-term care

The decision by a major insurance company to spin off most of its long-term-care policies earlier this month sends a clear warning to consumers of the importance of that old rule: Caveat emptor.

Conseco struck a deal with Pennsylvania regulators to transfer 140,000 long-term-care policies into an independent trust. The new nonprofit trust will pay claims from a usd. 175 million pool of capital contributed by Conseco, but the trust wont have access to any additional capital from the company. That means policyholders could face cuts in benefits or big rate hikes in the future.

www.columbusdispatch.com

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2008-12-25 SBLI, MTA Put Educators at Head of the Class

The Savings Bank Life Insurance Company of Massachusetts (SBLI) and MTA Benefits, Inc. , today introduced SBLI Term Advantage, a unique term life insurance product designed specifically for members of the Massachusetts Teachers Association (MTA). The product will be available for purchase beginning on .

Consumers may also deal directly with The Savings Bank Life Insurance Company of Massachusetts in Arizona, California, Colorado, Delaware, the District of Columbia, Georgia, Illinois, Indiana, Maine, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Vermont, Virginia, and West Virginia.

www.prweb.com

PR: Life insurer to offer unique, low-cost insurance product to Mass. educators. Woburn, MA (PRWEB) - The Savings Bank Life Insurance Company of Massachusetts (SBLI) and MTA Benefits, Inc. , today introduced SBLI Term Advantage, a unique term life i - PRESS RELEASE life insurance sbli low cost life insurance term life ma teachers teachers benefits ma teachers association