Improvements sought for health insurance law

While the future of the 2010 health care law stabilised with the re-election of President Obama, both Democrats and Republicans say now is the time for them to come together to fix it.

Lancashire Q3 and 9M profits on the rise

Lancashire Holdings Limited has reported its financial results for the third quarter and first nine months of 2012. Quarterly return on equity rose from 3.6% to 5.7%, with 9M return on equity up from 10.4% in the corresponding period last year to 13.2%.

Lloyd’s will fight against cyber crime!

“European companies must act now to protect themselves against the growing threat of cyber crime.”
The warning comes from Lloyd’s, which claims that most firms don’t understand the cyber risks they are facing.

Incumbent Washington Insurance Commissioner re-elected for a fourth term

Incumbent Washington Insurance Commissioner Mike Kreidler won 57.7 percent of the vote in his re-election bid for state insurance commissioner, giving him bragging rights as the U.S.’s longest currently serving insurance commissioner.

Tips safety during with Bonfire Night

This evening millions of people around the UK will gather on village greens or a local field to watch firework displays and warm themselves up around a bonfire, all in memory of Guy Fawkes.

Incredibly, but if to leave off smoking you will not only remedy the health but also able to pay the most expensive insurance of the life!

Recently, Eric Smith, the founder of YourLifeSolution.com created a simple analysis that shows how much life insurance costs and used cigarettes as the comparison.

Named Lloyd’s Deputy Chairman

Lloyd’s has appointed Andy Haste as senior independent deputy chairman on the Council of Lloyd’s. Haste, whose three-year term starts on Nov.1, has more than

L&G appoints head of treasury & investments

Legal & General (L&G) has appointed Paul Stanworth as head of group treasury and investments, reporting to group chief executive officer, Nigel Wilson.

The National Employment Savings Trust is consulting on proposed changes in pension legislation

NEST (The National Employment Savings Trust) is consulting on proposed changes to its scheme rules,

To improve the profitability of insurance companies, Guy Carpenter launches a ProfitPoint+

Guy Carpenter has launched ProfitPoint+, an integrated portfolio management solution designed to help insurance companies improve profitability, enhance underwriting performance and drive growth.

Lawsuit Against Auto Club Alleges Unfair Use of Coverage History

A class-action lawsuit brought against Auto Club of Southern California by one of its former agents alleges that the insurer engaged in practices meant to dodge state regulations barring insurers from using prior coverage history to help determine the price of a policy or whether a driver is insurable.

Pension Insurance Corporation and Luxembourg-based Reinet agreed that Fund will invest up to £400 million in the business.

Pension Insurance Corporation (PIC), which provides insurance solutions for defined benefit pension funds, has completed a transaction whereby Luxembourg-based Reinet Fund will invest up to £400 million in the business.

Homeowners can save substantial amounts of money by finding the best energy supplier!

The winter season is when the real worth of heating systems is evident, warming up millions of households as the temperatures drop dramatically outside.

From 2006 to 2011, direct earned premiums for lender-placed insurance more than tripled

BORROWERS who allow their homeowners’ insurance to lapse will often get stuck with a bill for much more expensive coverage, courtesy of their lenders.

The new guidance from of Aon Benfield

Aon Benfield has launched the “CRO Guide to Solvency II”, a new report aimed at helping chief risk officers (CROs) maintain a competitive position and boost financial strength while meeting regulatory compliance.

Independent Insurance Agencies said the number of independent agencies has grown

Insurance Navy, a leading independent insurance agency in Chicago and Northwest Indiana areas said that findings of recent studies showing that the number of independent agencies has grown to 38,500 in 2010, up from 37,500 in 2006 come as no surprise.

Munich Re: Climate change leads to a redistribution of insurance claims

A new study from Munich Re shows that North America has been most affected by weather-related extreme events in recent decades – the continent being exposed to every type of hazardous weather peril, partly because there is no mountain range running east to west to separate hot from cold air.

HealthCompare developed a program Health insurance options people to Quit drinking alcohol and smoking tobacco

The nationally recognized health insurance comparison site, HealthCompare, understands quitting smoking is hard enough, even for the healthy. But for those that suffer a second addiction with alcohol, it’s almost impossible.

Now the homegrown insurer wants to grow a little more.

Florida Peninsula Insurance Co. decided 2005 was a good time to get into the property insurance market when others were getting out. Months after the Palm Beach County-based carrier entered the market, Hurricane Wilma hit. "You could question our timing," said CEO Roger Desjadon, "but we're experienced and road-tested."

Reforms in the insurance test positive on Rates

The effect of no-fault coverage reform is taking shape as the Florida Office of Insurance Regulation (FLOIR) released more data this week from the rate filings of large-scale insurers, which are supposed to reflect cost savings from the provisions of the reform law.

Allstate Expanded with the use of technology Drive Wise

Allstate recently announced that it is expanding its usage-based insurance (UBI) product, called Drive Wise, into more states this year, with further expansion planned for next year.

Willis and Zurich introduce full e-Accounting

Willis has launched a full electronic accounting process with the London-based operations of Zurich Global Corporate UK, using the current (2010.2) ACORD data standard and exchanging messages via TMEL (The Message Exchange Limited).

Zurich in North America (ZNA) appointed a new chief financial officer

Zurich in North America (ZNA) has appointed Dalynn Hoch as its new chief financial officer. She is based in Zurich’s North American headquarters in Schaumburg, Ill.

Aviva’s research, a third of employees feel that mental health remains a “taboo”!

Increased understanding of mental health issues at work has prompted a steady rise in the number of UK employees claiming for psychiatric disorders on both income protection and private medical policies, Aviva reports.

Rachel Perry appointed Managing Director of Aon Risk Solutions in the Atlanta office

Aon Risk Solutions, the brokerage and risk management business of Aon plc, recently announced the addition of Rachel Perry as managing director and Southeast region casualty leader in the Atlanta office.

EU adopted new rules for the insurance sector

EU insurance watchdog EIOPA on Friday blasted "stagnation" in political talks to finalize new risk-capital rules for the insurance sector in a strongly worded letter to the EU Commissioner in charge of regulation, Michel Barnier.

Health insurance reform - problems and solutions!

The Maine Center for Clean Elections (MCCE) has issued a report linking the health insurance reform passed last year to greater contributions by Anthem to Republican candidates than in the past.

Horace Mann, Progressive Companies Hike Rates

The latest batch of filings from Pennsylvania regulators, consisting mostly of hikes to insurance prices, means that consumers retrieving an auto insurance quote online could see a handful of new, higher rates.

United HealthCare is launching a program that gives small business owners more plan.

In a bid to increase its 5 percent share in the local health insurance market, United HealthCare is launching a program that gives small business owners more plan options to offer their employees.

United's Multi-Choice allows employers with 50 or fewer workers to select any number of plans among 30 separate options, from high-deductible to full-coverage plans.

Health Insurance At Work Will Cost You More

It will take a bigger money pile to pay for your health insurance again.

If you get health insurance at work, it's just about time to pick your plan again. The good news for this open enrollment season is that premiums aren't expected to increase quite as much for 2013 as they did this year.

British insurers make payments regularly

The Association of British Insurers (ABI) has revealed that UK insurers are paying out almost £200m a day. The figures include daily payouts of £19m for motor insurance policies, and £9m relating to home insurance coverage.

AXA Commercial Lines introduced post Simple Products Trading Manager

AXA Commercial Lines and Personal Intermediary has announced the appointment of Louisa-Jayne Stirzaker as Simple Products Trading Manager.

Various versions of your car insurance

 It's a fact that most states have different rules regarding car insurance. But most people don't take the time to look at their policy and coverage limits. While we can cover a number of discounts that are available, there are also things that you should review with your policy.

The more expensive the car, the more expensive the insurance reimbursement

Injury claims are most likely to come from occupants of minicars and cars equipped with powerful engines while luxury vehicles lead to the priciest vehicle repair claims, according to the latest insurance claims data released Thursday from the Highway Loss Data Institute (HLDI).

Development of the insurance industry to climate change

A report out Thursday urges the insurance industry to act to protect itself and the community against the increasing frequency of extreme weather due to climate change.

In short, the report, its authors and those endorsing it want more efforts made to calculate climate change into risk management.

Capital markets opportunities for reinsurers!

Investments from the capital markets in various forms now provide around 14 percent of the total capital dedicated to providing reinsurance – approximately $35 billion [$17 billion in cat bonds] out of $250 billion.

IPISC created the InventPro Insurance Program to help level the playing field for inventors and small companies.

Louisville, Ky. headquartered Intellectual Property Insurance Services Corporation (IPISC), which focuses on intellectual property (IP) insurance risks, has launched the InventPro Abatement Insurance program.

11 percent have a high level of understanding health reform implications

Despite 92 percent of U.S. adults being aware of healthcare reform, most lack a comprehensive understanding of how it may impact them, a survey indicates.

Every citizen should have health insurance

A visit to the doctor can cost hundreds, sometimes thousands of dollars, and medications can be just as expensive each month. Trips to the emergency room only further increase the cost of medical care, and are one of the fastest ways to rack up a bill in the thousands. Finally, surgical care, anesthesiology and hospital stays make paying for your own health care nearly impossible.

AMEX Assurance Company, seeks to void a travel insurance policy

An American Express subsidiary is suing a Maryland man who was jailed for months in Aruba in the suspected death of his traveling companion.

The subsidiary, AMEX Assurance Company, seeks to void a travel insurance policy that Gary Giordano, of Gaithersburg, Maryland, took out in Robyn Gardner’s name before their Caribbean vacation last year.

Brent Howell has been named vice president at Watkins Insurance Group

Brent Howell has been named vice president and account executive of Austin, Texas-based Watkins Insurance Group’s Employee and Group Benefits Department. Howell will lead Watkins’ Benefits department, which offers employee and group benefits as well as individual life and health plans.

New CEO in CNP Assurances

French personal injury insurer, CNP Assurances, has announced the appointment of Frédéric Lavenir as chief executive officer.

Mr Lavenir will take office on 26th September 2012, replacing Antoine Lissowski.

Unusual insurance requirements in Pet Insurance

A dog that got bitten by a turtle, a hound found literally hanging around the barbecue grill and a cat that went for a ride after getting stuck in a car engine are among the nominees announced by Veterinary Pet Insurance Co. (VPI) for its VPI Hambone Award honoring the “Most Unusual Claim of the Year.”

Rules to reduce health care costs

Health care costs are rising, and many people are feeling the pinch when it comes to paying their medical bills. Fortunately, there are some easy ways to reduce your health care costs. Try these tips to ensure that you’re not overspending on health care.
Use Preventative Services

Progressive Plans hoping for the best after Second Quarter

In a recent letter to shareholders recapping Progressive’s second-quarter financial performance, President Glenn Renwick wrote that “disappointing” results were “well within our control.”

Cheapest Car Insurance? Read more

Buying even the minimum levels of liability insurance can be expensive for good drivers. Research released in June by the Consumer Federation of America (CFA) found that more than half of motorists in its sample -- drivers without moving violations or accidents who live in moderate-income areas -- were quoted rates of more than $1,000 a year for basic coverage. For 32 percent, the quotes averaged more than $1,500.

NAIC accept new requests for 2013

The National Association of Insurance Commissioners issued the following news release:

The National Association of Insurance Commissioners (NAIC) is currently accepting applications for the 2013 Consumer Liaison Program.

Allstate Insurance Co. has filed suit against the Florida Institute

A Florida neurologic clinic that specializes in treating patients with traumatic brain and spinal cord injuries is being sued by a major automotive insurance company for more than $7 million in false claims stemming from charges it abused patients, failed to provide treatment, and kept them hospitalized without medical justification.

Swiss Re opens New office

Swiss Re Corporate Solutions has announced that it has bolstered its presence in Benelux with the opening of a new office in Amstelveen, in the Netherlands.

USI Insurance Services acquired TD Insurance, Inc

USI Insurance Services ("USI") has entered into a share purchase agreement to acquire TD Insurance, Inc. (“TDI Inc.”), a wholly-owned US subsidiary of TD Bank, N.A. TDI Inc. is one of the largest bank-owned insurance agencies and brokerage firms in the US offering a wide range of insurance and employee benefits products and services. This acquisition is expected to contribute $58.2 million in revenues to USI on an annual basis.