| Employee insurance costs raised for city | | Posted Wednesday, December 27, 2006 3:00:13 PM by Blog57 Team | | The City of Gurdon will have to spend an additional $13,711 on premiums for employee insurance in 2007 due to a change in the citys rating. Gurdon Mayor Clayton Franklin addressed the situation with members of the Gurdon City Council during its meeting on Monday, Dec. 18. He said the citys loss ratio is very poor. Because of the rating, the city has changed its deductible from $250 to $500, but the increase is still high, he said. Our health insurance for employees is going out of sight. The city will not bear the increase alone, the premiums paid by employees will also increase. Of the total monthly premium, the city pays 80 percent of the costs for an employee and 50 percent of the additional costs to cover the employees family. For volunteer firefighters, the city pays 80 percent of the cost of the firefighters insurance and only 40 percent of additional costs for the family plan.... | |
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| | | Insurance premiums underwritten up 28% | | Posted Monday, November 27, 2006 1:08:41 PM by Blog57 Team | | Dubai: Premiums underwritten by the UAE's insurance industry jumped 27.7 per cent in 2005 to Dh7.39 billion from Dh5.78 billion in 2004, the Ministry of Economy said on Sunday. Click here for the full report on The Insurance Sector Business in the UAE 2005 Growth was driven by the general insurance business, where premiums surged 30.4 per cent to Dh6.18 billion in 2005. The life, savings and money making insurance segment contributed premiums of Dh1.21 billion, a 15.5 per cent rise over Dh1.04 billion in the previous year, the Ministry said in a report on the performance of the insurance industry in 2005. The insurance industry's investment portfolio at the end of 2005 was estimated at Dh18.27 billion, 65.6 per cent of which was placed in shares and bonds and 26.6 per cent in deposits.... | |
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| | | Valen Technologies Introduces Organizational Readiness Program Preparing Insurance Carriers for Predictive Analytics | | Posted Sunday, November 12, 2006 11:04:45 PM by Blog57 Team | | Valen Technologies, the expert in predictive analytics for the insurance industry, today announced the unveiling of the company's Organizational Readiness Program. Encompassing a needs assessment phase and a proof of concept, the program assures that all elements are in place to generate maximum ROI from a predictive analytics initiative, prior to implementation. Insurance carriers are experiencing market and competitive pressure to implement predictive analytics in order to out-select the competition, improve pricing precision and uncover new pockets of opportunity. While Valen's predictive analytics solution allows carriers to reach these goals, forethought and planning is the first phase to ensuring that carriers will extract maximum benefits. Carriers tend to rush into the implementation process and fail to recognize that deploying predictive analytics requires a fundamental change in business operations, philosophy and strategies.... | |
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| | | Insurance hearings set in Tallahassee | | Posted Friday, November 10, 2006 3:13:40 AM by Blog57 Team | | The Florida Office of Insurance Regulation has scheduled public hearings on rate filings submitted by Foremost Insurance Co., Foremost Property and Casualty Insurance Co. and United Property and Casualty Insurance Co. The hearings are to be Nov. 16, in Tallahassee, in the Senate Office Building, room 401. .... | |
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| | | Pacific Life Insurance Company Selects Versata's Distribution Channel Management(TM) for Enterprise Incentive Management | | Posted Tuesday, November 07, 2006 3:09:14 AM by Blog57 Team | | Versata, the leading provider of enterprise software solutions with the lowest total cost of ownership, today announced the Life Insurance division of Pacific Life Insurance Company has selected Versata's Distribution Channel Management(TM) solution for its comprehensive distribution administration, credential management, and compensation capabilities. Pacific Life's Life Insurance division chose Versata's solution based on the depth of insurance-industry specific functionality, coupled with proven lowest total cost of ownership. According to Mike Bell, executive vice president of Pacific Life's Life Insurance division: "It is critical that our software enable our business users to quickly add new agents and new channels, properly align process with our strategic business objectives, and ensure reliable tracking and payments amidst rapid change." "Not only must we meet extraordinary business demands that require we support over 100,000 agents and tens of millions of calculations per month, we also must contain our total costs while guaranteeing reliability," added Cameron Cosgrove, CIO of Information Technology for the Life Insurance Division at Pacific Life.... | |
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| | | UniCare Awarded Certificate of Authority By Kansas Insurance Department | | Posted Saturday, November 04, 2006 7:16:57 AM by Blog57 Team | | TOPEKA, Kan., Nov. 2 /PRNewswire/ -- UniCare Health Plan of Kansas, Inc. (UniCare) today announced it was awarded a Certificate of Authority by the Kansas Insurance Department, thereby allowing UniCare to conduct business in the state of Kansas. In August, UniCare was awarded a statewide contract to provide services to the Kansas HealthWave Managed Care Services for Medicaid and State Children's Health Insurance Program (SCHIP) and since then has been actively working to build and develop its network of providers in the state. "We are very pleased at Commissioner Praeger's decision to award UniCare with a Certificate of Authority," said John Monahan, president of State Sponsored Business for UniCare. "We are confident the residents of Kansas will benefit from access to our unique personalized health care model and we look forward to being in the state in January." .... | |
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| | | Business insurance stopgap program still needs work | | Posted Thursday, November 02, 2006 1:17:03 PM by Blog57 Team | | The Property and Casualty Joint Underwriting Association was approved by Gov. Jeb Bush and the Cabinet this summer as a stopgap to help businesses that couldn't obtain hurricane insurance from private carriers. As currently organized, the association writes only wind coverage, explained John Fischer, Fort Myers-based regional outreach director for the Florida Department of Financial Services. "It's kind of like a Swiss cheese insurance -- it has some holes that need to be filled," Fischer said Wednesday at a Charlotte County Chamber of Commerce breakfast meeting at the Punta Gorda Tentatorium. Fischer added that there's still talk in Tallahassee about a special legislative session on insurance. However, "the odds on a special session being called in November are probably about 50-50 right now," said Rep.... | |
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| | | Insurance cost is motivator in District 28 race | | Posted Wednesday, November 01, 2006 11:13:23 AM by Blog57 Team | | No one likes seeing homeowners-insurance bills increase, but one New Smyrna Beach man was so motivated by a steep rise in his premium that he decided to challenge one-term incumbent state Rep. Dorothy Hukill for this year's election. William Smalley, the 52-year-old Democratic candidate, is making his first bid for public office on a largely self-funded campaign to reform insurance, both for homeowners and health care, and to revamp the educational system. .... | |
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| | | Expo to offer business tips | | Posted Thursday, October 26, 2006 6:59:18 AM by Blog57 Team | | The Gettysburg Adams Chamber of Commerce invites the public to attend the 2006 Business Expo on Thursday, Nov. 2, sponsored by PCI Insurance. Local businesses will showcase their products and services at the event from noon to 6 p.m. at the Wyndham Hotel Conference Center at Gateway Gettysburg at the intersection of Route 15 and Route 30. Admission to the Expo is free and door prizes will be awarded throughout the event. Mini seminars will be conducted at various times throughout the day. Learn to ask the important questions when shopping for healthcare. Understand the risks of identity theft and learn how to protect yourself. Find out how to get your information into the newspaper. Get important information about how to respond to the emotional needs and challenges of employees.... | |
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| | | Farmers Insurance Companies Introduces New Annual Auto Insurance Policy in Missouri | | Posted Monday, October 23, 2006 3:00:40 PM by Blog57 Team | | KANSAS CITY, Mo.--Farmers Insurance Group of Companies, including Farmers Insurance Exchange and Mid-Century Insurance Company, have good news for their nearly 247,000 auto insurance policyholders and new customers. Beginning October 23, 2006, the companies will offer a rare annual auto insurance policy that will allow Farmers auto insurance policyholders and new customers to choose a full-year auto policy term option in addition to the current six-month policy term option. "The annual auto policy provides the same wide array of quality coverages and discounts available on the six-month policy, and does so at a price that is `locked' in for a full year," explained Bill Martin, vice president of auto product management, Farmers Insurance Group. "We are always looking for innovative ways to help our customers save time and manage their budgets better, two very important commodities in today's busy world.... | |
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