Insurance News

The News Review:

- bama’s Health Care Resolutions Can’t Be Kept
- bama finds lovefest on Capitol Hill
- Boren and ‘Brien to Head Ironshore’s Environmental Insurance Division
- Arcandor sells stake in insurance arm to raise cash
- Gold May Advance for Eighth Year as ‘Perfect Insurance’ Sought
- Allstate gets K to hike homeowner insurance 6.9% in California
- Insurance Commissioner issues fine of over $5.9 million for …

bama’s Health Care Resolutions Can’t Be Kept
FXNews 
And that’s putting it charitably. The main problem is that bama has proposed creating a new government-sponsored enterprise — a taxpayer-financed health plan run by federal officials that would “compete” directly with private health plans. Moreover the “competition” would take place through a new “national health insurance exchange” something the president-elect envisions as a kind of national shopping mall for coverage managed by Washington. RelatedColumn Archive.

bama finds lovefest on Capitol Hill
San Francisco Chronicle  USA 
The bama campaign estimated that about 150 million households making less than $200000 would qualify including those who make too little to pay federal income taxes. Businesses would get tax incentives to create jobs and invest in equipment or factories. Expansion of health and unemployment benefitsbama and the Democrats are considering major expansions of government-assisted health insurance and unemployment compensation including a proposal to extend unemployment insurance to part-time workers an idea blocked in the past by congressional Republicans. ther policy changes would subsidize employers’ expenses for temporarily continuing health insurance coverage for laid-off and retired workers and their dependents as mandated under the 22-year-old federal CBRA law and allow workers who lose jobs that did not come with insurance benefits to be eligible for the first time to apply for Medicaid. Aid to states for health and education ($140 billion to $200 billion)The money would let local governments subsidize costs for Medicaid and education programs so they don’t have to raise taxes and cut essential programs. Infrastructure energy and jobsbama said he would “put people back to work today and reduce our dependence on foreign oil tomorrow” through spending and tax incentives to double production of renewable energy; make government buildings more energy efficient; build and renovate roads bridges and schools; and modernize health care technology. EducationBesides money to build and renovate schools bama plans to call for money to train more teachers expand early childhood education and provide more college tuition aid.
Related from Champcarnews: Back on Capitol Hill Auto Executives Still Find Skeptics

Boren and ‘Brien to Head Ironshore’s Environmental Insurance Division
Insurance Journal CA 
operations who also came to Ironshore from AIG along with his boss Kevin Kelley formerly head of AIG’s Lexington Insurance and now CE of all Ironshore operations. The Ironshore Environmental Insurance unit will be located at Ironshore’s New York office. Boren was formerly chairman and CE of AIG Environmental where he has worked for the last 13 years. Prior to AIG he worked for 25 years in the environmental industry starting as a regulator andending as chief operating officer of an environmental firm. ‘Brien was president and chief operating officer of AIG Environmental and had been with AIG for the last 17 years. He joined the AIG companies in 1992 as an underwriter and most recently served as executive vice preident of AIG Environmental’s commercial and middle market divisions.

Arcandor sells stake in insurance arm to raise cash
Reuters 
DE) has sold a stake in its insurance arm to Munich Re’s (MUVGn. DE) as part of a deal that gives the German retail and tourism group full control of its banking unit it said on Monday.

Gold May Advance for Eighth Year as ‘Perfect Insurance’ Sought
Bloomberg 
Gold prices may strengthen after about $29 trillion waswiped off equities last year the Federal Reserve cut interestrates to as low as zero and governments sought to end the worstfinancial crisis since World War II. ?People fear inflation they fear the credit crunch andthey fear currency losses and gold is the perfect insuranceagainst all of that? said. Panizzutti was the most accurate forecaster in the LondonBullion Market Association?s 2008.

Allstate gets K to hike homeowner insurance 6.9% in California
Los Angeles Times CA 
9% increase in its rates for homeowner coverage according to the state Department of Insurance. The hike followed by five months an agreement between Allstate California’s third-biggest home insurer and the commissioner to cut average rates by 28. “Allstate’s losses have increased from prior years and a new rate was warranted” said department spokesman Darrel Ng.

Insurance Commissioner issues fine of over $5.9 million for …
Norwalk Plus Magazine 
html – templateCell: categoryRow –>. html –> Jan 6 2009 – 3:35 AM Insurance Commissioner issues fine of over $5. 9 million for operating insurance company illegally By Connecticut Insurance Department Font size: Small&nbspBig. com%2Fnwk%2Finformation%2Fnwsnwk%2Fpublish%2FNews_1%2FInsurance-Commissioner-issues-fine-of-over-5-9-million-for-operating-insurance-company-illegally3007.

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