The News Review:
- French bank to take smaller stake in Fortis insurance arm under …
- Florida Insurance Commissioner subpoenas State Farm
- Life insurance capital lifeline denied by regulators
- Survey: More than a million Pennsylvanians lack health insurance
French bank to take smaller stake in Fortis insurance arm under …
MarketWatch
30 2009 LNDN (MarketWatch) — BNP Paribas the Belgian government and Fortis have agreed to a new deal to sell off parts of the Belgian bank after a court ruling forced them to abandon an earlier agreement in the face of shareholder dissent. Under the new deal BNP Paribas (.
Florida Insurance Commissioner subpoenas State Farm
Bizjournals.com NC
us Digg This Two days after State Florida’s Insurance said it wanted to pull out of Florida the state’s insurance commissioner says he’s issued a subpoena requesting detailed information about the company’s Florida property insurance policyholders. The subpoena is requesting names addresses policy types policy limits and premium information for each of State Farm’s Florida policyholders. “We need to fully understand all the potential risks so that we can properly evaluate State Farm’s withdrawal plan” Commissioner Kevin McCarty said in a press release. State Farm said it wants to stop writing property insurance in the Sunshine State blaming the decision on its inability to obtain state approval for rate increases. “Faced with steeply declining resources to cover future claims and expenses State Farm Florida has little choice” said Jim Thompson the insurer’s president in a press release.
Related from Freewheelintornados: Quiet hurricane season won’t mean cheaper insurance for homeowners
Life insurance capital lifeline denied by regulators
MarketWatch
29 2009 SAN FRANCISC (MarketWatch) — State insurance regulators said Thursday that they denied a request from the life insurance industry to quickly relax capital and surplus requirements. Life insurance stocks slumped after the decision. “So far the insurance industry is in much better condition than most of the rest of the financial services sector because of strong state solvency regulations” said Roger Sevigny president of the National Association of Insurance Commissioners and New Hampshire Insurance Commissioner.
Survey: More than a million Pennsylvanians lack health insurance
Bizjournals.com NC
us Digg This A survey released Thursday by the Pennsylvania Department of Insurance estimates the number of state residents without health insurance has topped 1 million — or about 8. 2 of the state’s population. The last health insurance survey conducted in 2004 found that 7. 5 percent were uninsured. “verall the study showed that increases in uninsured numbers were seen in almost every category; including adults children certain ethnic groups and most geographic areas” said Joel Ario the state insurance commissioner.