The News Review:
- Enterprise risk management in insurance sector could improve in 2008 …
- Ethiopia: Sisters Held in US Insurance Fraud Case – Report
- Florida homeowners insurance market unstable; hurricanes pose risk -…
- Commission suggests health insurance boost
- Insurance cover rides on DL now
Enterprise risk management in insurance sector could improve in 2008 …
Forbes – Mar 25, 2008
‘The experiences of 2007 and early 2008 have shown that ERM is an important discipline that will continue to be key for the financial health of insurers,’ said the ratings agency in an article titled ‘ERM Development In The Insurance Sector Could Gain Strength In 2008′. It is against this backdrop that S&P will continue to enhance its evaluation of insurers’ ERM capabilities as a fundamental part of our credit analyses, it added. S&P completed 274 ERM evaluations in 2007. The results showed that most insurers had adequate ERM programs in 2007, the article said.
Ethiopia: Sisters Held in US Insurance Fraud Case – Report
AllAfrica.com – Mar 25, 2008
Citing US Attorney General Tom Corbett, the report identified the defendants as Tirhas Mekonnen, 26, of Wilmington, Delaware, along with her sister Woinshet Mekonnen, 34. GA_googleFillSlot(“AllAfrica_Story_Inset”); "Attorney General Tom Corbett today announced that agents from the Attorney General’s Insurance Fraud Section have filed criminal charges against two sisters accused of switching identities to secure nearly $30,000 in medical insurance coverage for a surgical procedure performed at a Philadelphia hospital," the report said. According to the report, Tirhas Mekonnen allowed her sister, Woinshet, to use her medical insurance identification cards in order to have a surgical procedure performed in Philadelphia. It said the sisters conspired to switch identities in the belief that the medical insurance system could be easily manipulated, and also because Woinshet Mekonnen preferred to have the surgery performed in the U.
Florida homeowners insurance market unstable; hurricanes pose risk -…
Forbes – Mar 25, 2008
Additional reforms are being considered in the current state legislative session. However, Fitch believes these challenges and tensions will not be alleviated any time soon, which means ratings pressures will also remain in place for the foreseeable future. Fitch said it views the nature of the Florida homeowners market as a negative for insurer credit ratings. Fitch said that its main concern from a ratings perspective is that if a major storms hits Florida this year, the fragile market could effectively ‘collapse’, especially if such an event intensifies the withdrawal of private capacity.
Commission suggests health insurance boost
Times of India – Mar 25, 2008
The scheme would be available on voluntary basis subject to paying
the prescribed contribution. Contributions would be based on the
actual premium paid. Group A, B and C employees would contribute 30%, 25% and
20% of the annual premium respectively with the government paying the remainder. The scheme has been recommended for government employees other than
those working in railways.
Insurance cover rides on DL now
Times of India – Mar 25, 2008
The present plastic
card DL will soon turn into a smart card loaded with personal details that come
with the insurance cover. For a range of conveniences that will come with a
small card, the vehicle owner will only have to pay a nominal sum over and above
DL fee. A
private-public partnership will be put in place to issue smart cards. The
private party will be entrusted the task of computerising the transport
department?s database, which will help expedite the issue of DLs and
registration certificates to the public.