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Jun30
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According to a press release on www.24-7pressrelease.com many Brits are inspired by summer time athletic events such as Wimbledon, World Cup and Golf to propel them to spend money on equipment and join sporting clubs.
A figure of 4.65 billion pounds spent this year on sports and fitness is enough to catch anyone’s attention. Most of the athletic participation occurs throughout the year with swimming, keeping fit, cycling, pool and snooker.
A representative from Barclays Insurance recommends the active ones take out a “special sports insurance package to supplement our household insurance which will provides extended cover for sports equipment including theft and accidental damage during use and even covers customers against the costs of an unusable club membership should they suffer an injury that prevents them from taking part in club activities.”
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Jun30
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Good drivers and responsible homeowners are being rewarded in Flint and Detroit Michigan by four undisclosed insurance companies who wish to bid to represent a pool of up to 200,000 aforementioned drivers and homeowners. An article in insurancejournal.com reported these...
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This week proved to be a busy one in the insurance scamming/fraud business. They kept piling up as the week went on. Even a police officer could not keep his hands out of the insurance candy jar this week. Montana...
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The California Insurance Commissioner John Garamendi on Thursday approved an 18% decrease in homeowner and renter premium rates by the Hartford Company according to a press release on www.insurance.ca.gov. This marks the start of what appears to be a general...
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The looming 4th of July celebration always brings out some not so well prepared amateur fireworks users/abusers. In light of this trend, “the Michigan Association of Insurance Agents is reminding everyone that extreme caution is needed over the 4th of...
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Jun29
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Don’t count out insurers interest in the World Cup games as fans and business interests. Some of the top players are insured for “tens of millions of dollars by clubs looking to protect their most prized assets - their players...
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A study released yesterday by Watson Wyatt Worldwide, a global human capital consulting firm, shows a “vast majority of employers are planning to curtail their retiree medical plans for current and future retirees in the next five years.” The study...
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I was shocked to read an article on www.2theadvocate.com about wreckage on the Gulf Coast, enough to stack 2 miles high onto a football field, not yet being cleaned up ten months after the hurricanes. Side note, how do they...
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The Retirement Income Industry Association (RIIA) has announced its desire to begin an “advanced retirement income planning educational program designed to convey the specialized knowledge financial advisors must acquire if they are to succeed in the coming income distribution era”...
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The human capital consulting organization of Aon Corporation, Aon Consulting, conducted a nationwide survey of 434 employers regarding Consumer Driven Health Plans (CDHP) and released the results on their website www.aon.com. Currently 28 percent offer a CDHP compared to 22...
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Jun28
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A commissioner on the U.S. Securities and Exchange Commission warned “members of the National Association for Variable Annuities (NAVA) need to take the consumer protection provision in the group’s mission statement seriously” according to nationalunderwter.com. The commissioner Annette Nazareth commented,...
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Rhode Island Governor Don Carcieri vetoed legislation that would have given RI drivers 24 hours to produce proof of insurance after they are stopped by a police officer or involved in an accident. This legislation does not make any sense...
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In a stroke of unprecedented charity Warren Buffet, founder of Berkshire Hathaway, has decided to give $31 billion of his personal fortune to the Bill and Melinda Gates Foundation. You can read several articles about this gift on forbes.com, nationalunderwriter.com...
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Florida Governor Jeb Bush signed legislation this week to help make Florida’s communities safer from methamphetamines and meth labs and also to reign in auto insurance fraud. You can read the full press release on www.fldfs.com.House Bill 1325 “authorizes the...
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Nationalunderwriter.com reported on a letter from lawmakers is “asking a federal group studying the terrorism insurance marketplace to consider the lack of a reinsurance market for terrorism coverage and other obstacles preventing carriers from assuming terrorism risk.”The letter was sent...
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Jun27
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A consumer alert on the National Association of Insurance Commissioners (NAIC) talks about the importance of understanding how to purchase a discount health card. Please take the time to read the consumer alert in its entirety on www.naic.org. First of...
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An auto and homeowners insurance company based in Des Moines Iowa, GuideOne Insurance is offering insurance for faithful churchgoers according to insurancejournal.com. The company has been offering the auto and homeowners policy FaithGuard, with specific benefits for churchgoers, for a...
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If you have been following this year’s World Cup you probably are aware of the serious injury to Michael Owen of the English national team in a first round game versus Sweden. When you are dealing with a 26 year...
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Although I have never been to New York, which is going to change in about two months, I had the impression it was a generally dangerous place. Not according to a recent Preliminary Crime Report for 2005 from the FBI...
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A battle is brewing between the World Trade Center (WTC) insurers and the governors of New York and New Jersey and the mayor of New York City. Nationalunderwriter.com reported threats directed towards the WTC insurers were made by the politicians...
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Jun26
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The North Dakota Insurance Commissioner Jim Poolman announced last week a $148,874 compliance settlement according to a press release on www.state.nd.us. This settlement affects 25 North Dakota Universal Underwriters Insurance Company policyholders.The refunds will range from as little as $2...
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It is always great to hear of insurance companies giving back to the community. Here are a few making a difference in their communities. A New York Life affiliated foundation will be giving $60,000 to the Coalition for the Homeless,...
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According to nationalunderwriter.com seniors like the new Medicare Part D drug program but are having some issues with understanding the new plan. This does not come as too much of a surprise with all the options offered to Medicare beneficiaries. ...
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A 2 percent surcharge on all property insurance policies has been approved in Florida following the 2004 and 2005 hurricane seasons as reported on insurancejournal.com. This surcharge is to help cover outstanding claims for one of Florida’s largest property insurers,...
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A settlement of $2.4 million from the Aon Corp. will be distributed among 9,500 insurance clients in Washington as reported on the Washington Insurance Department website insurance.wa.gov. This restitution was part of an agreement signed by Washington Insurance Commissioner Mike...
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Jun25
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If you live anywhere except the United States chances are the World Cup is beaming from every television set and the main topic of discussion. A writer for Sports Illustrated Aditi Kinkhabwala is a major soccer fan and is having...
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Nationalunderwriter.com reported Florida Governor Jeb Bush this past week signed into law a bill regarding new restrictions on the way long-term care insurance is sold in Florida. This new law “will restrict insurers from contesting any LTC insurance application more...
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This past Thursday the U.S. House voted 269-156 for passage of a new estate tax bill according to nationalunderwriter.com. This new bill would increase the estate tax exemption to $5 million per individual, or $10 million for a married couple...
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The New York superintendent of insurance Howard Mills is using the TV airwaves to distribute his message about fake insurance according to nationalunderwriter.com. Mills was propelled to compile the educational video in light of a probe into a phony insurance...
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Jun24
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The World Cup is center stage for the most popular sport on the planet and also a potential catastrophe for soccer/football/futbol clubs throughout the world. The president of Fédération Internationale De Football Association (FIFA) Sepp Blatter says, “soccer's governing body...
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Tom Gallagher, Florida State Fire Marshal, wants to provide information to citizens about the signs and dangers of methamphetamine manufacturing according to a press release on www.fldfs.com. Gallagher was quoted saying, “Meth labs have been found in rural, city and...
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A few feet make a big difference when riding a motorcycle in New Hampshire this past week. The 83rd annual Laconia Bike Week started off on the wrong foot with a deadly accident involving 7 motorcyclists and a Jeep Cherokee...
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A new $2 million fund was established by the Indiana Economic Development Corporation this past week in order to help facilitate growth within the insurance industry as reported on insurancejournal.com. This fund will help “defray company costs associated with numerous...
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Florida’s Department of Financial Services this past week released their Top 10 Fraud List of the costliest or boldest securities, financial and insurance fraud scams investigated by the department’s Division of Insurance Fraud (DIF) and resulting in convictions in the...
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Jun23
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Another record dividend is being paid by the Louisiana Workers Compensation Corporation (LWCC) to qualifying policyholders as reported on lwcc.com. This years $19.6 million dividend surpasses last years $15.8 million that LWCC returned to policyholders last year.This year marks the...
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The Santa Rosa district office for the California State Compensation Insurance Fund has raised around $50,000 during the past decade for different charities according to insurancejournal.com. The donations from the State Fund “helped the Volunteer Center of Sonoma County bring...
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An amazing auto collision ring in Southern California involves hundreds of people, from the perpetrators to the victims. The amount of people recruited for this fraud is shocking as is the detail and planning it took to set-up these “accidents.” ...
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An interesting editorial article by Linda Koco on nationalunderwriter.com brings up the subject of whether advisors should request that income and estate planning clients over 70 should bring someone to the meetings? Many advisors do request the presence of a...
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One of the worlds largest insurance and financial services groups Aegon N.V. has agreed to acquire 49% of a Mexican life insurance company according to a press release on aegon.com. The insurance company Seguros Argos S.A. de C.V., Mexico City...
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Jun22
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We here in the U.S. are not only way behind on catching World Cup fever but we certainly do not have a website like this, fco.gov.uk, preparing us for the World Cup. The Foreign and Commonwealth Office (FCO) Of England...
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A phone survey commissioned by MetLife Mature Market Institute and conducted by Zogby International explored whether grandparents were contributing financially to their grandchildren’s education, and grandparent’s attitudes toward their children’s child rearing practices” according to the publication on metlife.com. Over...
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A Senate-backed plan to alleviate some insurance hikes in Louisiana was rejected by that states House of Representatives claiming, “the money would be better set aside for potential emergencies” according to insurancejournal.com.A spending bill, House Bill 1208, was amended by...
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A critical decision was reached for the approval of the Florida Hurricane Catastrophe Fund to borrow $2.8 billion to back up insurers during the hurricane season according to insurance journal.com. Following Hurricane Andrew this fund was created to provide reinsurance,...
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An announcement was made regarding 20 winners of renewable $1,000 scholarship awards from Sun Prairie, Wisconsin based General Casualty Insurance Companies according to a news release on generalcasualtycompanies.com. The scholarship program was created “four years ago to reward talented students,...
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Jun21
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The Governor of Virginia Timothy M. Kaine this week signed a General Assembly bill allowing small businesses to collectively purchase health insurance using health insurance pools according to a press release on the Governors website. This bill defines small business...
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An international research and consulting firm, The Customer Respect Group, conducted for the sixth time a study of insurance firms. This study analyzes corporate performance from an online customer’s perspective by assigning a Customer Respect Index (CRI) rating for each...
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This past week the U.S. Supreme Court came to a split decision in the case of Howard Delivery Service Inc. v. Zurich American Ins. Co. The decision was a ding to the armor of the insurance industry “with a ruling...
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An annual survey conducted by Q & A Research and commissioned by Great-West Healthcare revealed some interesting consumer attitudes toward healthcare. The purpose for this survey was to “gauge public attitudes about the health care system, consumer-driven health care and...
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A large insurer Nationwide Financial Services Inc. is looking to merge its current Nationwide Federal Credit Union affiliate into a transformed banking unit, Nationwide Bank according to a press release on nationwide.com. This merger will pay “$79 million for the...
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Jun20
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There will be a significant rate decrease for most earthquake insurance policies in California issued by the California Earthquake Authority (CEA) according to insurancejournal.com. An average decrease of 22.1 percent is projected.This decrease will affect approximately 85% of CEA policyholders...
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If you are not a rabid soccer/football/futbol fan then you might not be familiar with the omnipresent World Cup trophy. This 36cm, 18 carat gold trophy is the most sought after trophy in the world of sports and apparently covered...
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A seminar organized by Prudential Financial Inc. revealed the results of a survey focused on women and financial knowledge. According to nationalunderwriter.com the results indicated the need for financial services companies to do more to help women prepare for the...
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This July 16-19 in Chicago more than 20 senior executives of leading insurance companies will meet for the 42nd annual International Insurance Society (IIS) seminar according to nationalunderwriter.com. The meeting will address important insurance issues related to regulation, risk management,...
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Hewitt Associates, a global human resources services company, released a press release on their website regarding HMO cost projections for 2007. This data reveals an increase of 11.7% for HMO costs in 2007 “representing the fourth consecutive year of declining...
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Jun19
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The National Association of Insurance Commissioners (NAIC) releases consumer alerts from time to time. The following partial list from naic.org is a great source of information to prepare for storms. These tips should be put to use by all people...
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As I mentioned in a recent post English football clubs are asking for compensation from FIFA for injured players in this years FIFA World Cup. Liverpool F.C., an English football powerhouse, has a very vocal coach, Rafael Benitez, who said,...
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In a press release on the Mississippi Insurance Department website Commissioner of Insurance George Dale states an astronomical number for Hurricane Katrina and Rita related claims. Over $10 billion in hurricane related claims have been paid out as of June...
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The Kansas Department of Insurance Commissioner Sandy Praeger has recently announced a statewide insurance campaign called “InsureU” as reported on insurancejournal.com. This program will start on June 20, will be several months long and include Praeger making stops in various...
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Larry Silverstein is the current leaseholder for the World Trade Center and was seeking money from insurance companies to pay his legal fees incurred from the September terrorist attacks according to insurancejournal.com. The presiding judge Alkin K. Hellerstein stated, “it...
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Jun18
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Based on new research from PricewaterhouseCoopers L.L.P. only around “8 percent of Medicare beneficiaries will fall into the coverage gap for prescription drug benefits” as reported on nationalunderwriter.com. Those who signed up for Medicare Part D this year are not...
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An American International Group (AIG) Midwest office was burglarized recently according to nationalunderwrite.com. Computer equipment was stolen with personal data of over 930,000 individuals. This data consisted of “names, social security numbers and perhaps some medical information on employees of...
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According to nationalunderwriter.com a report from Celent shows life agents are embracing technology and looking for different ways to use that technology. Within the insurance industry the property-casualty sector has been the recipient of most of the technology initiatives from...
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The Principal Financial Group has released results from their Principal Financial Well-Being Index indicating, “more than half of workers (59%) now agree that employees should be automatically enrolled into their 401(k) retirement plan and a standard deferral rate step up...
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According to a research report by AARP, baby boomers might not be inheriting the amount of money initially expected. As a whole only one-fifth of boomer households have received inheritances and around 15 percent are expecting to receive an inheritance. ...
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Jun17
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Lloyds of London is one of the premier insurers of World Cup players and players in leagues throughout the world according to an article on Lloyds.com. While soccer players are representing their countries in this years FIFA World Cup in...
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In Arkansas 1998 two babies 16 month old Vicky Crisp and 4 month old Sidney Pippin were left unattended in hot weather in a car with the windows rolled up. The insurancejournal.com reported these two babies died as a result...
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New Jersey Citizens United Reciprocal Exchange (NJCURE) is a not-for-profit reciprocal exchange offering competitive auto insurance policies. If you live in New Jersey and are looking for alternatives to for profit auto insurance companies then NJCURE could be the answer.Founded...
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When claims staff are on the ground in a disaster like Hurricane Katrina they need support through education of the media, regulators and other interested parties. Nationalunderwriter.com reported from the ACE claims conference in New Orleans a State Farm claim...
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A heated debate is underway in New Jersey addressing the use of certain underwriting criteria by insurers as reported in nationalunderwriter.com. A major insurer GEICO is using job and education status to underwrite personal lines of insurance in New Jersey. ...
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