The News Review:
- Allstate Insurance looks to enter Massachusetts
- AIG plans to spin off Asian life insurance unit
- Hartford CE: Will Not Sell P/C And Life Insurance perations
- Battle over homeowner insurance heats up
- NJ bill would require autism-treatment coverage
- Blue Shield health insurance rescission case to go to trial
Allstate Insurance looks to enter Massachusetts
Boston Globe
com Allstate Insurance Co. the nation’s second largest auto insurer announced plans today to re-enter the Massachusetts auto insurance market. globebusiness May 18 2009–>.
AIG plans to spin off Asian life insurance unit
The Associated Press
plans to spin off its Asian life insurance unit in an initial public offering to help repay billions of dollars in U. Shares of American International Assurance Co.
Related from Managementmonster: AIG seeking IP for its Asian fund-management business
Hartford CE: Will Not Sell P/C And Life Insurance perations
CNNMoney.com
In the memo Ayer said Hartford will be a “U. centric insurance companywith a focus on our strong portfolio of protection businesses primarilyproperty and casualty group benefits and life insurance. We will also continueto operate strong wealth management and retirement businesses including mutualfunds retirement plans and a restructured annuities business. As a result wewill move forward with both property and casualty and life businesses.
Battle over homeowner insurance heats up
Bizjournals.com
During a conference call last week Florida’s insurance industry advocates called efforts to increase. _8EFB47588E3F4642A24061C74407A7B7.
NJ bill would require autism-treatment coverage
Philadelphia Inquirer
Ten states including Pennsylvania have enacted legislation requiring coverage of autism treatment. Most of the laws cap benefits and the age of those covered. Similar to Pennsylvania’s law which goes into effect July 1 New Jersey’s bill would provide developmentally disabled patients under 21 with insurance benefits of up to $36000 a year for diagnostic services and behavioral early intervention as well as occupational physical and speech therapy. "In this economy every New Jersey resident is struggling but families with kids with special needs are struggling even more" said Assembly Speaker Joseph Roberts Jr. Camden) who also sponsored the bill. "They’re maxing out their credit cards and taking out second mortgages" to cover gaps in insurance.
Blue Shield health insurance rescission case to go to trial
Los Angeles Times
The disclosure of systematic rescissions triggered a firestorm of criticism and scrutiny. Lawmakers complained loudly and regulators opened investigations. In Blue Shield’s case Insurance Commissioner Steve Poizner in 2007 accused its Life & Health Insurance Co. unit of 1262 “serious violations” over a four-year period that he said “completely undermine the public’s trust in our healthcare system and are potentially devastating to patients. ” Poizner proposed $12. 6 million in fines but ultimately declined to impose any. In the end regulators dropped their investigations in favor of settlements they said would expedite restitution for victims.