The News Review:
- Fla. debates wind insurance measure
- Securing Health-Care Coverage
- Legislators glad insurance appeals board is back to stay
- Australia’s bushfire victims receive 124 million in insurance
- Brokers Fear Many Insurers Are Ignorant of Annuity Risks
- Emerging Capital Partners Invests in Leading African Insurance Company
- Saga of insurance company and destroyed house continues
Fla. debates wind insurance measure
MiamiHerald.com
to increase rates by as much as 10 percent for several years to reach actuarial sound levels. Without the staggered rates some Citizens customers could be looking at premiums jumping 40 percent to 50 percent. The Senate Banking and Insurance Committee will debate Sen. Garrett Richter’s bill Monday.
Securing Health-Care Coverage
Barron's
“The same soaring costs that are straining our families’ budgets are sinking our businesses and eating up our government’s budget too” he said. Like most people bama deplores the current system and wants to work toward one that insures every American at an affordable cost — for care of acceptable quality. He will not accept that these goals are inherently contradictory; in fact he seeks a universal system that will save money for government business.
Legislators glad insurance appeals board is back to stay
Milford Daily News
The three-member board consisting of the attorney general insurance commissioner and representatives of the registrar of motor vehicles hears drivers’ appeals of auto insurance surcharges. Insurance Commissioner Nonnie S. Burnes had scheduled the board’s termination for April 1 but reversed her decision to eliminate the consumer-friendly board after numerous people objected. "There was a lot of feedback from consumers about how bad this (dissolution) would be and it got so bad that the commissioner announced her decision to reverse it last week and leave it in place" said Rep.
Australia’s bushfire victims receive 124 million in insurance
Xinhua
dollars) in insurance to members affected by the Victoria’s bushfires Australian Associated Press reported on Monday. “We also received support from the emergency services providing assistance with the validation of total loss vehicles and their removal from the town” RACV claims manager John Simpson said. Eighty-seven percent of home insurance assessments from Marysville where around 90 percent of the town’s buildings had been destroyed has carried out with aerial photography because no access was granted to the devastated area for more than six weeks after the fatal fires.
Related from Talloonne: Victorian Bushfire Appeal ‘” Tasmanian service clubs top the nation
Brokers Fear Many Insurers Are Ignorant of Annuity Risks
Wall Street Journal
Merrill has long been one of the largest distributors of retirement-income products. The advisers were polled amid a steady drumbeat of ratings downgrades for some of the biggest names in the U. life-insurance industry. About two dozen insurers saw their financial-strength ratings fall one or two notches during the first quarter although most remain at least for now in categories denoting capitalization that is “strong” to “very strong. ” The ratings firms assigned a negative outlook to many of the insurers for the next 12 to 18 months and put some on watch for possible additional downgrade over the next few months.
Emerging Capital Partners Invests in Leading African Insurance Company
PR Newswire (press release)
7 million (euro 35 million) investment – made through the purchase of common shares – is the firm’s largest investment in an African financial services firm to date. The capital will provide NSIA with resources for organic and external growth as well as the equity strengthening of the company’s banking affiliate Banque Internationale d’Afrique ccidentale (BIA). NSIA is headquartered in Cote d’Ivoire and offers life and non-life insurance services. Along with BIA the group focuses on geographic expansion and development of the bancassurance concept which is the selling of insurance products by banks. This allows NSIA and BIA to offer a suite of banking investment and insurance products to customers in west and central Africa where average insurance penetration is less than 1%. “African insurance companies are in a period of rapid growth due to economic liberalization and regulation that is becoming more standardized across regions” said Hurley Doddy chief operating officer of ECP. “NSIA is already a market leader which means it should be in a prime position to capitalize on west and central Africa’s tremendous growth potential.
Saga of insurance company and destroyed house continues
Albany Times Union
The crash destroyed the home on Rowland St. What followed is a two-year dispute with the State Farm Insurance that still hasn?t ended. Village police charged Danielle Schrade 21 with drunken driving. In addition to Grossman Brown?s house Schrade also took out the front porch of the house next door. Grossman Brown and her husband Randy had plenty of insurance but since the crash they have been forced to spend thousands of dollars out of their own pockets. State Farm hasn?t been as helpful as the family expected it to be.