The News Review:
- Concepta Insurance Consolidation Facility Receives DOJ Clearance
- Fitch reviewing Fidelity National for downgrade
- Morning Rounds Rising Stress Levels Limited Health Insurance and …
- Cell-Phone Insurance: A Bet on Bad Luck?
- The Future of Financing Health Services in Africa
- TimeSight(TM) Systems Announces Industry’s First Video …
- Drivers without insurance will have their vehicles towed after Jan. 1
Concepta Insurance Consolidation Facility Receives DOJ Clearance
MarketWatch
1 2008 HOUSTON Dec 01 2008 (BUSINESS WIRE) –Ivy Capital Group is pleased to announce that the Department of Justice Antitrust Division has indicated it will not challenge Ivy’s formation of an insurance facility that will link businesses that require large property and business interruption coverage limits with multiple underwriters that in combination can provide those limits. This new approach to be implemented by Concepta Services (an Ivy Capital Group subsidiary) will enable large policyholders to access insurance capacity through commercial brokers on a single policy form by having multiple insurance companies participate in the risk. The current tightening of the financial markets and recent negative environment for investment returns will restrict the ability of some insurance companies to provide large policy limits to individual clients. Concepta intends to work with commercial brokers and Concepta insurance company participants to aggregate capacity to serve large risks. Ivy has already been engaged in discussions with a number of insurance companies regarding their participation in the Concepta model and Ivy’s receipt of a favorable review from the DOJ is another step in the implementation of this new approach to insurance coverage. Ivy anticipates Concepta will be in a position to start operations during the second quarter of 2009.
Fitch reviewing Fidelity National for downgrade
CNNMoney.com
and its title insurance subsidiaries on a negative watch. Fidelity National currently carries an issuer default rating of “BBB” which is just two notches above junk status. Fidelity National’s title insurance operating subsidiaries currently carry financial strength ratings of “A-” which are also considered investment grade. Fitch said in a statement it is concerned about leverage and capitalization ratios at the subsidiaries as Fidelity National acquires title insurance underwriters from LandAmerica Financial Group.
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Morning Rounds Rising Stress Levels Limited Health Insurance and …
New York Times United States
The paper reported last year that at least 136 patients at seven state hospitals have died of neglect abuse poor medical care or under suspicious circumstances. Bare Bones CoverageReputable health insurers like Blue Cross and Blue Shield of Florida have started offering low-cost plans for people who can’t afford comprehensive health insurance. The plans may cover routine care but not hospitalizations and may include discount cards accepted by some doctors.
Cell-Phone Insurance: A Bet on Bad Luck?
PC World
Major carriers typically offer insurance along with umpteen other “up-sells”. But faced even temporarily with the prospect of having to replace my iPhone at its full unsubsidized price ($500 for the 16GB model) I began to wonder if insurance might not be worthwhile. It turns out that one company–Asurion–manages insurance programs for all the major U.
The Future of Financing Health Services in Africa
MarketWatch
Howeverincreasing awareness of the benefits of insurance driven largely by theintroduction of national insurance has led to a significant expansion ofcoverage. “The medical insurance industries in African countries is currently in theintroductory to medium growth stage” notes Frost & Sullivan Research AnalystTiwonge Mkandawire. “There is however an increasing level of awareness ofthe benefits of medical insurance cover among members of the general public. This is further supported by government efforts to expand coverage of nationalhealth insurance schemes such as the National Health Insurance Scheme and NHIFin Ghana and Tanzania respectively.
TimeSight(TM) Systems Announces Industry’s First Video …
MarketWatch
2 2008 MOUNT LAUREL NJ Dec 02 2008 (MARKET WIRE via COMTEX) –TimeSight(TM) Systems the industry leader in Video LifecycleManagement (VLM) today announced the industry’s first Video StorageInsurance Program. This unique program guarantees customers willobtain the required resolution and retention across all highresolution video surveillance cameras at the quoted price orTimeSight Systems will provide the needed additional storage capacityat no additional cost. The company is offering this insurance acrosslines of its intelligent Network Video Recorders (NVRs) which deliverVLM capability and are equipped with dynamic H. 264 and MotionOptimized Recording (MORe) features. “As video surveillance data becomes a recognized corporate asset andhigh resolution cameras become more affordable security departmentseverywhere are looking to eliminate grainy video without incurringadditional costs most notably storage” said TimeSight Systemschairman and CEO Charles Foley. “TimeSight Systems’ unique VLMtechnology with MORe combined with this unique Insurance Program willenable users to embrace high resolution digital based video cameraswithout requiring the usual massive storage capacities or exceedingtheir video storage budget. Through its patent pending encoder and rules engine that deliversdynamic compression of video surveillance data over time TimeSightappliances enable the optimum resolution of video data when it’s mostneeded and longer retention times all while reducing storagerequirements by up to 90 percent compared to existing videosurveillance recorders.
Drivers without insurance will have their vehicles towed after Jan. 1
Dallas Morning News TX
1 those who do not have insurance will have their vehicles towed when stopped for a traffic violation. DALLAS – Drivers with no proof of insurance will have their vehicles towed under a new policy that goes into effect Jan. On that date the Dallas Police Department will enforce the Uninsured Motorist Ordinance approved by the Dallas City Council on May 28. Under this ordinance drivers stopped for a traffic violation who cannot show proof of auto insurance meeting state requirements will be issued a citation and will have his or her vehicle towed at the owner’s expense to the Dallas Auto Pound.