The News Review:
- Patients Covered By State Health Insurance n The Rise
- Now-needy FDIC collected little in premiums
- Citizens Property Insurance to sell $2.5 billion of bonds
- Sompo Japan Nipponkoa Discuss Merging in 2010
- Leading Insurance Technology Companies Congratulate Farmers …
Patients Covered By State Health Insurance n The Rise
WJACtv.com
5′wmode:’transparent’video_coid:’18907205′});Patients Covered By State Health Insurance n The Rise Posted: 2:31 pm EDT March 112009Updated: 2:56 pm EDT March 112009 Six months after an urgent care center opened in Richland Township officials there said they are treating a large number of patients who are covered by state health insurance. Conemaugh Health System opened the Medwell Urgent Care Center in Richland Township in hopes of easing long emergency room waits. Since then they have helped more than 5000 patients but officials said that may be attributed to the Children’s Health Insurance Program and Adult Basic. The walk-in clinic helps families with anything from the common cold to sprains and strains. The clinic is open seven days a week and some patients got there because they can’t get an appointment at the doctor’s office. But lately workers said they’ve seen an increase in people who can’t afford insurance because they’re out of work a trend throughout the Alleghenies. fficials from the State Insurance Department said in just the last month more children have enrolled in Bedford Blair Centre and Clearfield counties.
Now-needy FDIC collected little in premiums
Boston Globe
The Federal Deposit Insurance Corporation which insures deposits up to $250000 tried for years to get congressional authority to collect the premiums in case of a looming crisis. But Congress believed that the fund was so well-capitalized – and that bank failures were so infrequent – that there was no need to collect the premiums for a decade according to banking officials and analysts. Now with 25 banks having failed last year 17 so far this year and many more expected in the coming months the FDIC has proposed large new premiums for banks at the very time when many can least afford to pay. The agency collected $3 billion in the fees last year and has proposed collecting up to $27 billion this year prompting an outcry from some banks that say it will force them to raise consumer fees and curtail lending. To possibly reduce the fee increase the FDIC has asked Congress for the temporary authority to borrow as much as $500 billion from the US Treasury – up from the current $30 billion limit – in case the number of bank failures increases even more dramatically.
Citizens Property Insurance to sell $2.5 billion of bonds
MiamiHerald.com
comp –> Florida’s state-run property insurer plans to begin selling $2. 5 billion of bonds next month to raise funds for claims from the coming hurricane season. Citizens Property Insurance Corp. governors tentatively approved the sale Tuesday in Tallahassee. Funds will go into the insurer’s high risk account used to pay claims for the six-month storm season that begins in June. Citizens with one million policyholders was created in 2002 to cover homeowners without private insurance. It has $8 billion of assets which could be wiped out ”in a few short hours” by a storm Chairman James Malone said last month.
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Sompo Japan Nipponkoa Discuss Merging in 2010
Wall Street Journal
–>Sompo Japan Nipponkoa Discuss Merging in 2010 ArticleCommentsmore in. and Nipponkoa Insurance Co. Japan’s third and fifth largest nonlife insurers are in talks to merge around spring 2010 a person familiar with the matter said. The deal if completed would create the country’s third largest nonlife insurance company. The development follows the announcement in January by three major domestic non-life insurers that they plan to merge to create the biggest firm in the sector putting pressure on Sompo Japan and Nipponkoa.
Leading Insurance Technology Companies Congratulate Farmers …
MSNBC
“Among many excellent nominations this year Farmers Alliance was selected for demonstrating improvements in its business through use of IT best practices. Farmers Alliance’s technology modernization initiative called the “iFAMI” project was designed to address the changing demands on the insurance industry. By utilizing a SA architecture Farmers Alliance can respond to market changes faster understand the company’s book of business better increase automation and efficiencies and reduce turnaround time for future implementations. Project objectives for this technology initiative were to deliver critical business applications and integrate new and existing applications along with other external service providers.