Posts Tagged ‘insurance facts’

Georgia to Decide New Insurance Commissioner

August 10th, 2010 by Iris | 1 Comment | Filed in insurance facts, insurance news

Georgia voters head to the polls today to participate in a runoff election in which they must choose between two Republican candidates for state insurance commissioner.

The two candidates, Maria Sheffield and Ralph T. Hudgens, are the two survivors from last months Republican primary, which included nine candidates. In that vote, each of the two received about twenty percent of the vote.

Last week, both Sheffield and Hudgens tried to distance themselves from John Oxendine, the current insurance commissioner, whose term is clouded by questions about his ethics. He has just failed at running for governor, during which campaign he took contributions from insurance companies.

Hudgens said Oxendine has done a good job as commissioner and he was not going to “pass judgment” on Oxendine actions in the gubernatorial campaign, while Sheffield said that ethics in government is “extremely important” to her. She also tried to prove that Oxendine and Hudgens had a relationship that included a $500 donation from Oxendine to Hudgens when the latter was running for re-election to the Georgia General Assembly two years ago.

A major issue in the insurance commissioner race is federal health care reform. Sheffield, an attorney who has worked in Georgia’s Department of Insurance, says she’ll work to mitigate the affect of the new federal laws on her state. Hudgens, who currently chairs the Georgia Senate’s Insurance and Labor Committee, maintains that the insurance commissioner has no authority over the new mandates. He says the position is merely administrative.

The winner of this Republican run-off will face Democrat Mary Squires in the November election.

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Five Bizarre Things People Insure

July 1st, 2010 by Iris | Comments Off | Filed in insurance facts, insurance news

It’s a new month, so we’re taking a break from talking about BP and healthcare and instead offering a lighter topic. We’ve all heard of insuring homes, cars, and boats, but what really odd things do people insure? Here are five:

  1. Specific Body Parts: We’ve all heard of concert pianists insuring their hands, but last December, pop singer Adam Lambert supposedly took out a $1,000,000 policy on his crotch, because the pelvic thrusts he does so often during his concerts can apparently lead to lower back issues and penile arthritis. (We suspect it might have been less expensive to hire a different choreographer.)
  2. Abuse by Ghosts: While bed and breakfasts here in the states – in cities like Charleston and New Orleans – advertise their ghosts, the Royal Falcon Hotel insures against them. Their policy (which smacks of a publicity stunt) protects employees and guests from improper poltergeists.
  3. Hunting Trophies: According to AXA Art, those of you who are big game hunters can actually insure the stuffed lions, tigers, and bears (oh, my) you’ve been collecting, in case they’re damaged or destroyed. Presumably you can also itemize them on your homeowners policy, as well, in case of something mundane, like theft.
  4. Wedding Insurance: Okay, we understand the concept of “Bridezilla,” but rather than insuring your wedding (sorry, it doesn’t find you a new groom if he backs out; it just covers any deposits and such), maybe you should consider having a back-up plan. Or save money, and elope.
  5. Alien Abduction: Apparently about 20,000 of your co-earthlings have taken out insurance policies in case they’re ever abducted by aliens. This might be wise – after all, flying saucers probably don’t have liability insurance – but we suspect it would be smarter to skip the insurance and invest in lots of aluminum foil. Less expensive anyway.

This list was fun, and all of these policies really exist, as well as many others. You can pretty much assume that if someone thought of it, someone else insured it.

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