| //12-09-2009 |
It's disappointing to see what has happened to the "debate" on health care (i.e. insurance) reform. It is undisputed that we spend the most money of any nation in the world on our health care system and we are near the bottom of all the developed nations in our results. In spite of this, what should have been a thoughtful discussion of making medical care more available and less expensive has sadly become a political dog fight.
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| //11-09-2009 |
Rep. Dave Obey, a Democrat from Wisconsin's 7th Congressional District, did not publish a statement in response to President Obama's Sept. 9th address to Congress and the nation regarding health care reform. However, he had just spoken two days prior at a Wisconsin Rapids Labor Day picnic, warning that "the U.S. has to get a handle on health care."
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| //10-09-2009 |
A.M. Best Co. has affirmed the financial strength rating of A (Excellent) and
the issuer credit rating of "a+" of Nipponkoa Insurance Company Ltd. (Nipponkoa)
(Japan). The outlook for both ratings is stable.
The ratings reflect Nipponkoa`s strong risk-adjusted capitalization, improvement
in underwriting results and reduction in equity holdings.
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| //07-09-2009 |
Corina Lunn, a Scottish Life employee, will be representing the Great Britain Age Group team at the Triathlon World Championships, which will be held on the Gold Coast in Australia this month.
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| //07-09-2009 |
# Swiss Life achieved a profit of CHF 172 million from continuing operations in the first six months of 2009 (+13%; HY 2008: CHF 152 million); the net profit stood at CHF 139 million.
# The Group improved its result from operations by 11%.
# Adjusted for extraordinary impacts and currency effects, premiums rose 7% to CHF 10 387 million.
# The net investment result of 1.8% was significantly higher than the prior-year figure.
# Shareholders' equity came to CHF 6 752 million at the end of June 2009 (end 2008: CHF 6 609 million).
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| //06-09-2009 |
Swiss Re is intensifying its efforts to urge governments to take a more joined-up approach to managing risk. In Helsinki today, the global reinsurer will use its flagship Nordic Risk & Insurance Summit (NORIS™) conference to suggest how governments can improve the way they tackle large-scale disasters and work more closely with insurers to deal with crises quickly and cost-effectively. With winter storm risk expected to double in some parts of Scandinavia by the end of the century, Swiss Re is also aiming to raise awareness of the need to close the gap between economic and insured losses.
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| //06-09-2009 |
The company is monitoring the situation carefully, and will re-evaluate its medical and dental policies for members as necessary to help them access care in the fire-impacted county of Los Angeles, where many people face evacuations from their homes.
Aetna members who need help in finding care or have lost or left their ID cards behind in an evacuation can reach Aetna at the following toll-free numbers:
* Aetna Member Services: 1-800-443-AETNA (1-800-443-2386)
* Aetna Specialty Pharmacy Customer Service: 1-866-782-ASRX (1-866-782-2779)
* Aetna Pharmacy Home Delivery Customer Service: 1-866-612-3862 or
1-800-227-5720
* Aetna Employee Assistance Program: 1-888-AETNA-EAP (1-888-238-6232)
* Aetna Dental: 1-877-238-6200
* For physicians who have questions: 1-800-MDAETNA (1-800-632-3862)
* Replacement ID cards and access to a Personal Health Record (PHR) can be accessed on Aetna Navigator™ found here: http://www.aetna.com/index.htm “Our deepest concern and sympathies go out to those in Los Angeles County who have been impacted by the wild fires,” said Aetna Chairman and CEO Ronald A. Williams. ““Our focus is on helping our members get the care they need, knowing that they may not be able to use their usual pharmacies, physicians and hospitals due to evacuations.”
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| //06-09-2009 |
American International Group, Inc. (AIG), its former Chairman and Chief Executive Officer Maurice R. Greenberg, and its former Chief Financial Officer Howard I. Smith jointly announced today that they have agreed on terms for binding arbitration of various legal disputes between AIG, on the one hand, and Greenberg and Smith, on the other. The terms of the arbitration are set forth in a written agreement being made public today. The parties have concluded that it is preferable to resolve as many of their disputes as possible in a private setting, and in a more expeditious and cost-effective manner. The arbitration will commence no later than October 15, 2009, and will conclude by March 31, 2010
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| //22-08-2009 |
Seemingly borrowing a page from his House energy and commerce committee counterpart, Senator John D. Rockefeller (D-WV), chairman of the Senate commerce, science, and transportation committee, sent letters to fifteen insurance companies requesting financial information. The purpose of the inquiry is to determine what percentage of premium dollars go directly to providing health care and whether the companies disclose to current and prospective policy holders how they dispose of the premiums they receive.
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| //22-08-2009 |
Critics who attack health care reform for handing too many medical decisions to government "bureaucrats" ignore the role of private insurance companies who already make those same crucial decisions behind closed doors, reform advocates say.
All health insurance plans, whether privately run for profit or financed by the government, rely on a structure where some services are not covered. From prescription drugs to experimental surgeries, patients face limits in a plan's fine print or from people paid to make choices in a process called "utilization review."
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| //22-08-2009 |
While critic of health care reform in the United States advance the argument that a government health insurance plan would stifle competition, private insurers are doing that already across many parts of the country.
In many places, one or two companies dominate the market, studies show. Monopolistic conditions can force premiums up for employers and individuals. While Democrats want a public option to compete, the GOP sees that as a government power grab.
Still, even legislators who oppose the public option worry about the growing power of big private insurers. "There is a serious problem with the lack of competition," said Sen. Olympia Snowe, R-Maine. "The impact on the consumer is significant."
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| //22-08-2009 |
WASHINGTON — One of the most widely accepted arguments against a government medical plan for the middle class is that it would quash competition — just what private insurers seem to be doing themselves in many parts of the U.S.
Several studies show that in lots of places, one or two companies dominate the market. Critics say monopolistic conditions drive up premiums paid by employers and individuals.
For Democrats, the answer is a public plan that would compete with private insurers. Republicans see that as a government power grab. President Barack Obama looks to be trapped in the middle of an argument that could sink his effort to overhaul the health care system.
Even lawmakers opposed to a government plan have problems with the growing clout of the big private companies.
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| //21-08-2009 |
I am tempted to talk about the politics of health care reform. But, honestly, I cannot figure out why the Democrats cannot pass a bill. So, some Republican constituents are really vocal in opposition. Is that such a big deal? I cannot fathom what is going on in the minds of the Democratic Senators and Representatives.
Instead, I want to talk about the intellectual failures on health care reform. I doubt that the political problems and the intellectual problems have much overlap, if any.
|
| //10-08-2009 |
American International Group, the insurance giant whose near-collapse threatened to bring down the financial system last year, on Friday reported its first quarterly profit since 2007, attributing the results to steadier performance in some of its businesses but warning that pitfalls could lie ahead in its restructuring.
The New York-based insurer, which was bailed out by the government in September, said it earned $1.82 billion, or $2.30 per share, through the three months ending June 30. During the same period last year, AIG lost $5.36 billion, or $41.13 per share.
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| //10-08-2009 |
In the second quarter of 2009, Swiss Re further increased its capital strength and estimates that its excess capital at the AA level has improved to CHF 4.5 billion. The Group also made significant progress in de-risking its Legacy portfolio. Solid underlying earnings in the core business were offset by mark-to-market losses on hedges and impairments. This resulted in a net loss of CHF 381 million for the quarter.
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| //10-08-2009 |
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| //10-08-2009 |
For one supposedly dedicated to bringing parties together for health-care reform, President Barack Obama shows unremitting hostility toward one of them: the health-insurance industry.
In practically every speech he gives or town hall he hosts, there’s a slam at insurance profits and methods – and no recognition of the role its lobby, America’s Health Insurance Plans, has taken to advance reform.
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| //10-08-2009 |
Switching auto insurance providers is an easy way to save money—and even make money in some cases—in a sagging economic climate. When you visit QuoteWizard.com to compare auto insurance rates, you can find a better rate from a new company and request a prorated refund on your old policy.
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| //07-08-2009 |
American International Group, Inc. (AIG) today reported its first quarterly profit since the third quarter of 2007, as certain of its businesses stabilized and the company’s results reflected positive valuation changes. AIG also achieved several important milestones in its restructuring program.
For the second quarter ended June 30, 2009, AIG reported net income attributable to AIG of $1.8 billion, including net income attributable to AIG common shareholders of $311 million or $2.30 per diluted common share, compared with a net loss of $5.4 billion or $41.13 per diluted share in the second quarter of 2008. Second quarter 2009 adjusted net income was $2.0 billion, compared with an adjusted net loss of $1.3 billion in the second quarter of 2008.
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| //05-08-2009 |
Swiss Reinsurance Co., the world’s second-largest reinsurer, reported an unexpected quarterly loss because of impairments on securitized products and the cost of hedging corporate bonds.
The loss was 381 million Swiss francs ($359 million) in the second quarter after net income of 564 million francs a year earlier, the Zurich-based company said in an e-mailed statement today. That missed the median estimate for a 134 million-franc profit of eight analysts surveyed by Bloomberg.
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