Archive for the ‘insurance specialists’ Category

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Alabama Still Tallying Insurance Claims from April 2011 Tornado

January 13th, 2012 by Iris | Comments Off | Filed in insurance news, insurance specialists, tornado insurance

The Birmingham News, reported recently that insurers have paid out at least $2.2 billion in claims from a tornado that struck last April 27th, and said there are still over 2,500 claims pending.

Those numbers are from the Alabama Department of Insurance, and include amounts that state-regulated insurance companies have paid for damage to businesses, cars, homes, and other property, but does not include any claims that were paid by insurers such as Lloyd’s of London that have policies in Alabama but are not subject to state regulation.

State authorities say that if every claim was resolved and tallied, the total would probably be near $3 billion, which, according to State Insurance Commissioner Jim Riding, falls within estimates his department has seen.

Friday Filmstrip: French Health Care

October 7th, 2011 by Iris | Comments Off | Filed in alternative health plans, friday filmstrips, health care reform, health insurance, insurance news, insurance specialists

As health care remains a hot-button issue in our government and with our current crop of political candidates, it’s interesting to look at health care around the world. Here’s a video – admittedly three years old – which looks at the French health care system, which is often considered the best in the world.

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Allstate Launches Identity Theft Coverage in California

September 2nd, 2011 by Iris | Comments Off | Filed in auto insurance, insurance specialists

According to several sources, there are roughly nine million Americans who are victims of identity theft every year, resulting in millions of hours spent trying to resolve the issues associated with having your identity stolen.

As a measure of protection, Allstate Insurance Company is offering its customers in California coverage to help mitigate the expense of identity theft, and reduce the time spent recovering their identities, as well.

The program, which is referred to as “identity theft expenses coverage” went into affect in late August, and is available to new and renewing Allstate auto insurance policyholders in California. With a starting premium of $30/year, the coverage will give customers access to “professional identity restoration assistance.”

It also provides a maximum of $25,000 in reimbursement coverage for attorney fees, loan reapplication fees, credit fees, police report fees, lost wages, and any other reasonable expenses associated with the restoration of identity.

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California Assembly Approves Helmet Law…for Skiers.

July 19th, 2011 by Iris | Comments Off | Filed in health insurance, insurance specialists

The California Assembly has passed a bill requiring that snowboarders and skiers under the age of 18 would be required to wear helmets while playing on the slopes. It was approved by a party-line vote of 49-23. Not surprisingly, Republican legislators referred to the bill as the latest example of “nanny state” laws.

Supporters of the bill, SB105, say raising awareness and requiring helmets could prevent head and brain injuries which are potentially life-ending in children as well as being expensive to treat, in turn making health insurance rates soar ever higher. Those caught on the slopes without protective head gear could be fined $25.

The bill was approved by the California Senate in April, but will vote on any amendments made by the Assembly before it goes to the governor for signature or veto.

There are four other states which have such laws on their books, and two others are considering them.

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State Farm Closing Offices to Save Money

May 9th, 2011 by Iris | Comments Off | Filed in insurance news, insurance specialists

According to the Pantagraph newspaper out of Bloomington, IL, State Farm Insurance has announced plans to close two dozen of its field offices in the midwest (Illinois, Indiana, and Michigan) in order to save $8 million over the next five years. Currently, these facilities are home to about 1,300 employees.

Some of these employees, the insurer has said, will become mobile employees who work from home, while others will be offered transfers to other field offices in the same states (there are two in each of the three states named). Either way, says the Bloomington-based insurance company, it is hoped that all affected employees will be retained.

While the to-be-closed offices in Indiana and Michigan have not yet been identified, the sites closing in Illinois include facilities in Arlington Heights, Champaign, Collinsville, Elmhurst, Marion, Moline, Peoria, Rockford, Springfield, and Tinley Park.

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Insurance Brief: Prudential to Sell Global Commodities

April 11th, 2011 by Iris | Comments Off | Filed in insurance news, insurance specialists

Today’s news is from the business side of the insurance industry, rather than the patient side. It’s relevant because it speaks to the health of the industry.

Last week, Prudential Financial, Inc. announced that it had reached an agreement with Jefferies Group, Inc, for the sale of its (Prudential’s) global commodities business. The purchase price is $430 million, and is roughly equal to the book value of the company, as of the end of 2010.

The transaction, which must go through regulatory approval before it’s expected closing this summer, will include FCM, Prudential Bache Commodities, LLC, Prudential Bache Securities, LLC, and the UK and Hong Kong-based Bache Commodities Limited, and Bache Commodities, Ltd.

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Buzz: What Today’s Woman Needs to Know and Do

March 30th, 2011 by Iris | Comments Off | Filed in advice and how-tos, insurance news, insurance specialists, women and insurance

Even though all Americans are living longer, women still tend to outlive their husbands, or not marry at all, which means they need to be active in their retirement planning before finances in their golden years become an issue.

To help with that, the MetLife Mature Market Institute has partnered with WISER (Women’s Institute for a Secure Retirement) to offer a comprehensive free publication called What Today’s Woman Needs to Know and Do: the New Retirement Journey. It’s available for download from the Mature Market Institute.

The publication speaks to the different challenges that women face as they mature and offers assistance with financial planning issues, with such tools as a Retirement Savings and Planning Checklist for every decade of a woman’s life, with guidelines for women from age 20 through their 70s. There’s also a glossary to define common financial terms, as well as other resources.

According to data from a MetLife Mature Market Institute study, financial planning is a major issue for the modern woman, especially since women still earn less than men, with 62% of career women expressing concern that they may never have enough money to retire.

Explains Sandra Timmermann, Ed.D., the director of the MetLife Mature Market Institute, “While women today have more economic opportunity than ever before, they also have a great deal more financial responsibility. Compared to previous generations of women who likely had a pension [theirs or their husband’s) and a deed to their mortgage-free home, many of today’s women are less prepared. They may now have a 401(k), 403(b) and/or IRA savings, a Social Security benefit and Medicare benefits, but they may not have pensions and private health care coverage. Many are likely to have a mortgage or other debt. New approaches are, therefore, required.”

No matter how old you are, this publication is worth checking out.

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