Insurance Probe Hits Home in D.C. Region
Some of the insurance brokers and carriers under investigation in New York Attorney General Eliot L. Spitzer’s probe of steering and bid-rigging are major players in the Washington area insurance market.
Marsh & McLennan Cos., the New York-based firm that Spitzer charged last week with soliciting fake bids and accepting kickbacks from corporate liability carriers, […]
‘Harry and Louise’ Return, With Health Insurance Plan
Harry and Louise, featured in television commercials that helped kill President Clinton’s plan for universal health insurance in 1994, are back.
They still work for the insurance industry, but now, in a new television commercial, they prod Mr. Clinton, Congress and political candidates to do something about the problem of 44 million Americans without health […]
Northeast Bank Insurance acquires Hyler Agency
US-based Northeast Bank Insurance Group has purchased Hyler Agency, a provider of property and casualty insurance.
Luann Hyler, owner of Hyler Agency, said: “While our sales beliefs remain the same, the insurance industry is changing quickly. Our commitment to consistent superior customer service is strengthened by joining Northeast Bank Insurance Group. We now have the […]
Wells Fargo Insurance forms alliance with Great American Insurance
Wells Fargo Special Risks, a subsidiary of Wells Fargo Insurance Services, has formed a strategic alliance with Great American Custom Insurance Services division of Great American Insurance Group.
Wells Fargo Special Risks will develop and administer specialty business on behalf of Great American Custom. This new relationship will expand the range of insurance and risk management […]
Health insurance costs rise 7.7%, twice the rate of inflation
Workers and employers won’t find much comfort in the smallest increase in health insurance costs since 1999. The 7.7% increase this year is still more than twice the rate of inflation.
And those rising costs have so far failed to boost the percentage of employers offering what are touted by some, including President Bush, as an […]
Insurance Broker Will Pay Back Customers
The nation’s largest insurance broker, Marsh & McLennan Cos., agreed yesterday to repay customers $850 million and revamp its business practices to settle charges by New York Attorney General Eliot L. Spitzer and the state’s insurance regulator that the company had accepted kickbacks and conspired with insurers to rig bids over the past four years. […]
Pacific Insurance May Raise $4.07 Billion in IPO
China Pacific Insurance (Group) Co., the nation’s third-largest insurer, may raise as much as 30 billion yuan ($4.07 billion) in the biggest initial public offering by a Chinese insurer.
The company, 19.9 percent owned by companies controlled by funds managed by the Carlyle Group, is offering 1 billion new shares at 27 yuan to 30 […]
Call 3 Problem Solvers: Check Travel Insurance Plan Before Purchasing
Call 3 Problem Solvers: Check Travel Insurance Plan Before Purchasing
Always read over the refund and cancellation policies, and know what you’ll need to do in the even that your trip needs to be called off.
Whether you’re traveling by plane, train or ship, travel insurance could buy you some peace of mind this holiday season.
Traveler Mary […]
Bush again vetoes expanding children’s health insurance program
President Bush vetoed legislation Wednesday that would have expanded government-provided health insurance for children, his second slap-down of a bipartisan effort to dramatically increase funding for the popular program.
The measure would have expanded the State Children’s Health Insurance Program by $35 billion over five years and boosted its enrollment to about 10 million children.
Bush cited […]
Insurance expert criticizes Blue Cross rate calculations
A national insurance expert today testified at a consumer hearing that Blue Cross Blue Shield of Michigan used flawed, inappropriate methods to determine proposed rate hikes at issue in a consumer challenge.
James Geyer, a Manchester, Conn., insurance consultant and former chief actuary for Aetna Inc., said Blue Cross’ methods resulted in a substantial overstatement of […]