| //11-05-2009 |
The accounting regulator the Institute of Chartered Accountants of India (ICAI) has constituted an expert group to suggest
sector-specific accounting norms for insurance companies. The move aims at ensuring that financial statements of insurance firms reflect true natures of financial arrangements. ICAI president Uttam Prakash Agarwal confirmed the development. “ICAI is planning to come up with specific accounting standards for the insurance sector,” he told ET.
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| //11-05-2009 |
One of the centerpieces of legislation to reform the individual health insurance market that Rep. Marc Corriveau, D-Northville, will introduce this week is the creation of a catastrophic insurance fund to reimburse health insurers for claims larger than $25,000.
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| //08-05-2009 |
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations
The following discussion and analysis should be read in conjunction with the unaudited Condensed Consolidated Financial Statements and the Notes thereto included elsewhere in this report and our Annual Report on Form 10-K for the year ended December 31, 2008, particularly "Item 7 - Management's Discussion and Analysis of Financial Condition and Results of Operations." References to "we," "our" and "us" are references to the Company.
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| //08-05-2009 |
Genworth Financial, Inc. (NYSE: GNW) today reported a net loss for the first quarter of 2009 of $469 million, or $1.08 per diluted share, compared with net income of $116 million, or $0.27 per diluted share, in the first quarter of 2008. Net operating income(1) for the first quarter of 2009 was $14 million, or $0.03 per diluted share, compared with $244 million, or $0.56 per diluted share, in the first quarter of 2008.
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| //08-05-2009 |
Two Belfair companies, North Bay Mortgage and Arnold & Smith Insurance, are combining services and will share office space 22881 NE Highway 3 starting this fall.
Mike Boyle, owner of Belfair-based North Bay Mortgage, has formed an association with Chris Ladner and Jeff McHargue, owners of Arnold & Smith Insurance, Inc. The two companies will share quarters at 22881 NE Highway 3, this fall.
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| //08-05-2009 |
PRNewswire-FirstCall/ -- The Hanover Insurance Group, Inc. (NYSE: THG) announced today that the A.M. Best Company upgraded the financial strength ratings of its property and casualty companies to "A" from "A-". The financial strength upgrades apply to The Hanover Insurance Company, Citizens Insurance Company of America, the companies of the AIX Group, and all of their subsidiary companies
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| //08-05-2009 |
In 1982, the Village Voice newspaper became the first business to offer domestic partner health benefits to same-sex couples. Today, many of the largest U.S. companies provide health insurance for domestic partners of their employees
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| //28-04-2009 |
America's pundits used to deride the old Soviet Union for propping up obsolete factories and industries in the name of jobs.
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| //28-04-2009 |
After his car was hit by a truck, Tom Norman thought he did the right thing. He settled with the trucking company's insurance company, received a check for the damages and had repairs done. When Norman picked up his car, he paid the bill and left.
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| //28-04-2009 |
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| //28-04-2009 |
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| //24-04-2009 |
American National Insurance Company (Nasdaq: ANAT) announced a first quarter 2009 net loss of $47,695,000 ($1.80 per diluted share) compared to net income of $39,025,000 ($1.46 per diluted share) for the same period in 2008.
After tax net gain from operations for the first quarter was $55,000 ($0.00 per diluted share) compared with $42,655,000 ($1.60 per diluted share) for the same period in 2008. After tax net gain from operations excludes after tax net realized investment gains and losses.
After tax net realized investment losses were $47,750,000 ($1.80 per diluted share) for the first quarter of 2009 compared with net losses of $3,630,000 ($0.14 per diluted share) for the same period in 2008. The losses for both years were primarily the result of other-than-temporary impairments on investments.
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| //24-04-2009 |
The essential duty of an insurance company is to protect its insured. Responsible homeowners insure their homes and responsible drivers protect their cars, so it is not surprising that responsible government entities insure against lawsuits to protect taxpayer dollars. Unfortunately, insurance companies do not always follow through with their duties, and as a result, the insured are left to pursue expensive litigation to force the insurance company to pay.
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| //24-04-2009 |
The chief executive of health insurer Aetna Inc. received compensation valued at $17.4 million, according to an Associated Press calculation of figures disclosed in a proxy statement filed Wednesday with the Securities and Exchange Commission.
But the company's stock tumbled more than 50 percent last year, putting a serious dent in the current worth of the pay package of Chairman and CEO Ronald Williams.
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| //23-04-2009 |
After years of inertia, the $16 trillion industry has begun to address climate change with mandatory risk disclosures and more products to help businesses and individuals reduce energy use. Insurers have begun to offer lower premiums on car, homeowner and property insurance for people who drive less, own hybrid cars or build green homes.
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| //23-04-2009 |
European Union lawmakers passed an insurance overhaul to step up oversight and risk-management that big insurers including Allianz SE and Axa SA have sought for half a decade.
The European Parliament approved its most sweeping rewrite of insurance rules since the 1970s today in Strasbourg, France. The 593-80 vote sealed an agreement with national governments for the law to take effect in 2012. The compromise scaled back plans to streamline oversight of multinational companies.
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| //23-04-2009 |
Insurance companies have begun to offer premium reductions for consumers who embrace green technology. Both Travelers Cos. and Farmers Insurance offer a 5% to 10% discount for drivers of hybrid cars, while Fireman's Fund also offers a 10% discount for homes with certification from Leadership in Energy and Environmental Design.
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| //23-04-2009 |
Over 50 plans are a way to ensure you can leave a lump sum of money to your family (or partner) when you die. Whether you wish to ensure your funeral costs can be covered or you simply want to leave a nest egg for your children or grandchildren, this form of over 50 life insurance can prove to be a cost effective choice.
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| //22-04-2009 |
Is bailout nation about to strike again? Sure looks like it. According to a bunch of front-page news stories, life-insurance companies are about to get TARPed. This is nuts.
The public is clamoring for an end to TARP and bailout nation. That’s a key message coming from the heartland tea parties that are cropping up spontaneously around the country. This is turning into a real populist uprising against rising taxes (especially state, local and property taxes), TARP and all the federal bailouts — and the trillions of dollars of deficits and debt being used for financing.
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| //17-04-2009 |
Supporters of legislation say it would boost early detection of HIV, but patients could be tested without their knowledge, which raises privacy concerns
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