Archive for the ‘insurance specialists’ Category

« Older Entries
Newer Entries »

AIG Repays $6.9 Billion More

March 8th, 2011 by Iris | Comments Off | Filed in insurance facts, insurance news, insurance specialists

It’s been a while since we wrote about AIG, but Reuters is reporting today that American International Group has returned another $6.9 billion of it’s bailout money to the U.S. Treasury, which means that 70% of the original $411 billion under the TARP plan (Troubled Asset Relief Program) has now been recovered.

According to spokespeople for AIG, $6.6 billion of the latest repayment came from selling its shares in the insurance company MetLife – shares that were initially acquired when it sold its international unit Alico to MetLife last year. Another $300 million was leftover from expenses related to the Alico transaction.

After this most recent payment, the U.S. Treasure still retains about $11.3 billion in preferred interests in AIG, as well as roughly 92% of the insurance group’s common stock. If that stock were to be sold at today’s closing price, it would generate almost $14.22 billion.

Spokespeople for the Treasure Department expect that every dollar of AIG’s bailout – which was $182 billion at its highest point – will eventually be recovered.

As of this evening, about 70% of the still-outstanding TARP funds are from AIG, Ally Financial, and General Motors.

Tags: , , ,

NM Rejects Driver’s Licence Ban for Illegal Immigrants

March 3rd, 2011 by Iris | Comments Off | Filed in auto insurance, insurance news, insurance specialists

The New Mexico state Senate has voted against two proposals meant to prevent the state from issuing driver’s license to illegal immigrants. Both proposals were backed by senate Republicans.

Unsurprisingly, the two measures under consideration failed on party-line votes, with 25 Democrats opposing the GOP proposals, and 14 Republicans supporting them. The proposals were meant to amend a bill changing the driver’s license requirements for teenagers in New Mexico.

Governor Susana Martinez, a Republican, has often encouraged lawmakers to vote up-or-down to scrap a 2003 law permitting the issuance of driver’s licenses to illegal immigrants.

Republicans in the New Mexico Senate believe that the licensing system in their state constitutes a security risk. They have even suggested that terrorists could get state driver’s licenses.

Senator Eric Griego (D-Albuquerque) said that the legislation was driven by a fear of primarily-Mexican immigrants.

State Republicans maintain that they will push for a ban on licenses for illegal immigrants in the House.

21st Century Takes Customer Service Honor – Again

March 2nd, 2011 by Iris | Comments Off | Filed in insurance news, insurance specialists

21st Century Insurance, a California-based insurance company, has received recognition for “call center operation customer satisfaction excellence” from the J.D. Power and Associates Call Center Certification Program for the fifth consecutive year.

To become certified under the program, 21st Century Insurance had to pass a detailed audit of more than 100 elements comprising the call center’s customer satisfaction measurement, including recruiting, analysis, employee incentives and quality assurance. As well, J.D. Power and Associates conducted a random survey of the insurer’s customers who recently used the call centers.

Mark Miller, senior director of the global contact center practice at J.D. Power and Associates, spoke on behalf of his company, saying, “In achieving certification for a fifth consecutive year, 21st Century Insurance has demonstrated its commitment to provide customers with an outstanding customer experience.” He added, “Call center representatives receive notable high ratings for their courtesy and knowledge.”

Speaking for 21st Century Insurance, Karen Alejnikov, senior vice president of operations, said, “On a daily basis, our service team exemplifies what it means to deliver an outstanding customer service experience. This fifth consecutive certification from J.D. Power and Associates demonstrates our commitment to provide each and every customer individualized attention and assistance.”

The Call Center Certification Program was launched by J.D. Power and Associates in 2004.

Tags: , , ,

CNA SPLASHes Into Texas

February 10th, 2011 by Iris | Comments Off | Filed in insurance news, insurance specialists

Most of us in Texas have ice in our pools this week, which makes this information more timely than you might think. SPLASH – the Spa & Pool Contractors Program from CNA – has been expanded into the Texas middle market.

The SPLASH program offers insurance coverage for a variety of customers including pool plasters, installers and builders of swimming pools, spas and hot tubs, and for service, maintenance and repair work (like cleaning, resurfacing, winterizing, etc.) done exlcusively for the swimming pool and hot tub industry. Both wholesale and retail operations that meet the requirements are eligible under the new Middle Market program.

Recently, the Northeast Spa and Pool Association (NESPA), an organization with more than fifty years’ history of safety education for its members, endorsed CNA. The insurer is working with NESPA to create specialized risk control programs that specifically address the needs of the swimming pool and hot tub industry.

CNA has also been providing support – including educational programs and employee training – to organizations such as the NESPA Foundation, the Association of Pool and Spa Professionals (APSP) and the Florida Swimming Pool Association (FSPA).

Tags: ,

Do You Have an Emergency Fund?

January 13th, 2011 by Iris | Comments Off | Filed in advice and how-tos, insurance specialists

No matter where you live or what you do, having an emergency fund is a smart idea. This way, if some sort of catastrophe hits your area, or there’s a family emergency that requires you to spend an extended period away from work, you won’t be forced to dip into your retirement fund or go into debt to rebuild your life, or fund your time off the job.

Most experts recommend that your emergency fund be equal to six months of your salary, so if you typically take home $2500/month, work toward an emergency fund of $15,000, even if you have to do it $25 or $50 at a time.

You should also keep your emergency fund in a lower-risk account, something that’s really stable and allows you easily access your money without penalties. A regular savings account held in an FDIC-insured bank is an excellent first step, and once it grows large enough, you can move part of it into a money market account or a certificate of deposit (CD) to earn better interest.

Since building an emergency fund takes time and patience, realistic goals are the key. Nationwide Insurance offers some fantastic tips for getting you started:

* Decide on an amount you can live with, perhaps 5% of your paycheck
* Save through automatic payroll deduction, so you won’t have a chance to spend the money
* Think of it as you think of a bill − something you have to pay
* Skip one big expense this year and use that money to launch your emergency fund
* Put your tax refund or company bonus into the emergency fund

Tags: ,

Oklahoma Representative Pushes for Workers’ Comp Reform

December 27th, 2010 by Iris | 1 Comment | Filed in insurance news, insurance specialists, workers compensation insurance

Oklahoma state representative, Mark McCullough told the press last week that he was prepared to introduce legislation designed to improve his state’s workers’ compensation system. Representative McCullough also said that the legislation will be based on recent recommendations from The Task Force on Vocational Rehabilitation in Workers’ Compensation, including reforms that would return employees to work whenever possible, as a way to both control costs and reduce litigation.

In addition, the group recommended that vocational rehabilitation should begin much earlier than is currently required, and that medical guidelines that are evidence-based should be implemented in order to identify and confirm workplace injuries.

McCullough, an attorney, served as chair of the task force, which put the workers’ compensation system and the issue of vocational rehabilitation under review. In their report, the task force observed, “Vocational rehabilitation through our system is utilized infrequently, rarely successfully places an injured worker in a difference occupation, is not attractive to the injured worker for a variety of reasons, occurs much too late in the case timeline and is perhaps cynically used to settle a claim for a higher dollar amount with no real belief by either part that the funds will actually be used for the purposes of vocational rehabilitation.”

McCullough said that his legislation would include reforms to begin vocational rehabilitation before Maximum Medical Improvement (MMI) in some cases, and may involve having a physician’s advisory council draft at set of fact-specific injuries to serve as a “trigger” for cases where earlier vocational rehabilitation may be advisable.

In addition, the legislation will also contain provisions from a bill McCullough originally filed last year. That bill, which was a product of a working group sponsored by The State Chamber, would turn Oklahoma’s Workers’ Compensation system into an administrative system, which all states except Oklahoma and Nebraska have already embraced.

Tags: ,

Tips for Choosing a Life Insurance Website

December 22nd, 2010 by Iris | Comments Off | Filed in insurance specialists, life insurance

There are a ton of websites out there offering life insurance. Picking one as the source for your quote requires some analysis. Here are some tips:

  1. Choose one website that represents many major life insurance companies, rather than wasting your time going from site to site. Whether you go through a broker or directly to an insurance company, the price is the same.
  2. Make sure you choose a site that doesn’t ask for personal information. You shouldn’t need to provide contact information, or any other personally-identifiable data just to get a quote.
  3. Choose a website that provides actual quotes, and not merely a list of companies for you to contact on your own.
  4. While it’s true that no quote is guaranteed, be certain that the quotes you receive are based in reality – your reality – and that they use the same underwriting criteria as the actual insurers.
  5. You should know who you’re giving your information to. Make sure the website has an updated privacy policy and legal notice. For this same reason, make sure you read the “About Us” section.
  6. Before entering any personal information, be sure the web page is secure. If it isn’t displaying a Secure Seal, it should at least have a quote engine web address that begins with ‘https’.

Tags: ,

« Older Entries
Newer Entries »