| //09-04-2009 |
Four former employees, including a husband and wife, who worked for Jacksonville-based Lee and Cates Glass Co. are accused of filing almost 1,000 false insurance claims for about $775,000 to install replacement windshields, according to arrest records.
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| //09-04-2009 |
CHICAGO (MarketWatch) -- Should the U.S. Treasury Dept. extend financial aid to a handful of eligible life-insurance companies, as it appears will happen, consider it insurance for the insurers, industry experts said.
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| //07-04-2009 |
Life insurance units at Allianz(AZ:NYSE), Allstate(ALL:NYSE) and Manulife Financial(MFC:NYSE) held more risky mortgage assets than capital and reserves at the end of 2008, making them more vulnerable to loan defaults. The credit quality of commercial ...
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| //07-04-2009 |
After the destruction that the financial system has wreaked upon the lives of millions of Americans who have lost their jobs and their homes, we find ourselves at a crossroads, tempted to not only restore these jobs with nationalist economic policies but also to eradicate future jobs through intense regulation and nationalization of the banking industry. These would be grave mistakes. We would inhibit our future growth, which we should begin to see signs of toward the end of this year or the beginning of next. We would plunge ourselves even deeper into this mess, just as our good friends Reed Hawley and Willis Smoot did in 1929 with increased tariffs that restricted world trade.
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| //07-04-2009 |
The GBI Continues a Push for Increased Coordination With Real Estate Trade Groups
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| //06-04-2009 |
Bills traveling through the Florida Legislature would force insurance companies to buy more private hurricane protection at a time when those rates are starting to rocket.
The result could be even more and broader price increases than what Florida lawmakers acknowledged during a House committee hearing on Friday.
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| //06-04-2009 |
TALLAHASSEE - A sweeping overhaul of Florida's property insurance system is the only thing standing between the state and a financial disaster, a coalition of business groups, environmentalists and lawmakers said Thursday.
The changes include reducing insurance policies that rely on the taxpayer-backed Florida Hurricane Catastrophe Fund, shoring up the state's Citizens Property Insurance Company and allowing companies to sell wind-insurance policies without state regulation.
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| //06-04-2009 |
Hartford Steam Boiler’s 300 Hartford-area employees now officially work for Germany’s Munich Reinsurance Inc., MunichRe officials said Wednesday.
The German company on March 31 completed the acquisition of HSB Group from embattled North Carolina-based insurance giant American International Group, which MunichRe first announced in December.
MunichRe paid AIG $739 million for Hartford Steam, which bills itself as one of the largest insurance and inspection companies in the U.S. “specializing in engineering risks.”
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| //04-04-2009 |
Insurance companies might not come to mind as key environmental advocates, but they have a vested interest in climate change: billions—if not trillions—of dollars. As sea levels rise, storms gain force and even as agricultural patterns change, insurance companies will have to shell out more and more cash to cover losses.
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| //04-04-2009 |
Auto Club Insurance Association, a Dearborn, Michigan-based insurer, has acquired MEEMIC Insurance Company and its insurance agency affiliate, MEEMIC Insurance Services.
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| //04-04-2009 |
The Texas Department of Insurance on Friday ordered a Houston company to stop using the state seal in a direct-mail campaign targeting about 2,000 owners of island houses damaged by Hurricane Ike.
The insurance department issued a cease-and-desist order against Benton R. Barber and companies doing business as Texas Department of Insurance Agency, Green Star Roofing and Roofteam, among others.
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| //30-03-2009 |
Great American Insurance Group (www.GreatAmericanInsurance.com), a preferred provider of specialty property and casualty insurance, announced that comprehensive data breach and identity theft services from Identity Theft 911 (www.identitytheft911.com), America's leading identity theft resolution and education services provider, are available through its recently launched cyber risk coverage.
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| //30-03-2009 |
Anyone buying or refinancing a property purchase could be affected by an unusual challenge filed by the Pennsylvania attorney general.
Title insurance companies want to raise the rates charged to insure home purchases and refinancings. The AG is opposed.
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| //30-03-2009 |
When it comes to regulating banks, the U.S. government has spent years setting up a system that gets it right most of the time. Strict reporting is required of the banks. And regulators are prepared to swoop in when the public’s deposits are in jeopardy.
Now, the Obama administration wants Congress to move quickly on a sweeping expansion of federal regulation over the financial system. But while the struggling system obviously needs more oversight, a rush-job is not recommended.
This would mark the biggest expansion of financial regulatory authority since the Great Depression. The risk of unintended consequences is high enough without hasty action.
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| //26-03-2009 |
The proposed AIG bill, which would confiscate the bonuses and compensation of company employees, offers yet another example of why Congress should not be running American businesses. It also illustrates that many U.S. lawmakers lack a basic understanding of the way our economy works, how businesses sell their goods and services to make a profit, and how individuals make decisions about their own careers.
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| //26-03-2009 |
National Insurance Company (NIC), one of the leading public sector non-life insurance companies in India, has changed its graphic identity with a new logo after 103 years.
The change is to simplify its communication process through structural, system and operational changes, which the company understood very lately
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| //26-03-2009 |
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| //25-03-2009 |
Washington consumers who hold policies with American International Group, or AIG, will not be affected by the conglomerate's financial troubles, according to the state insurance commissioner
"Many consumers have contacted my office concerned about their AIG insurance policies," Insurance Commissioner Mike Kreidler said in a Tuesday statement. "I've assured them that AIG's insurance companies have the money necessary to pay claims. Regardless of what happens to AIG, there's a firewall in place to guard the assets of the insurance companies and protect policyholders."
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| //25-03-2009 |
As the economy sinks, a growing number of Americans are turning to a stodgy financial product favored by their parents and grandparents: whole-life insurance.
These policies' steady, tax-deferred returns, many now in the 4% to 5.5% range or more over 20 years, look enticing after the 40%-plus declines in the stock market over the past year and a half. Indeed, investor angst is helping insurance agents sell whole-life insurance.
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| //25-03-2009 |
CARMEL, Ind., March 23 /PRNewswire-FirstCall/ -- Conseco, Inc. (NYSE: CNO) today announced that Director Michael Shannon has informed the company that he will not be a candidate for re-election to the board of directors at the annual meeting of shareholders scheduled for May 12, 2009. Mr. Shannon made the decision so that he could devote additional time to his other business interests. Conseco Board Chairman Glenn Hilliard said: "We wish Mike well and thank him for his many contributions to Conseco since joining the board in 2003. Mike, who chaired our human resources and compensation committee for many years and has also served on our governance and strategy committee, brought to the board expertise in a variety of important skills at a critical time when the company was emerging from bankruptcy. He has helped guide the company toward long-term growth, and we will miss his knowledge, focus and wisdom."
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