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NAIC Backs Standard Valuation Model, Plans for Implementation Manual

A new Standard Valuation Model Law adopted at the National Association of Insurance Commissioners' fall meeting is a significant step toward applying principles-based reserves methodology to the regulation of life insurance and annuity prod...

Hill Votes to Extend Unemployment Insurance Benefits

(Washington, DC) - Last night, Congressman Baron Hill voted to stimulate the local economy and provide stability to Hoosier families by extending unemployment insurance benefits to those hit hardest by the recession. The Unemployment Compen...

Insurance executives expect to increase in 2010 are, however, moderate on the subscription profits: KPMG survey

Insurance leaders see their results above market expectations in general in 2010, but their outlook on the sector's ability to generate underwriting profits in one or three years is limited, according to an annual survey conducted by KPMG,...

Plan for New Annuity Model Continues at NAIC

A National Association of Insurance Commissioners working group will continue consideration of a new model act on annuity sales suitability following comments from insurers and others that questioned the need for a new measure. Wisconsin In...

Baseball-Size Hail in Texas Batters Insurers for More Than $150 Million

Hail the size of baseballs that battered El Paso, Texas, on Sept. 16 is believed to have caused more than $150 million in insured losses, according to the Insurance Council of Texas. The insurance council said the fast-moving hailstorm, the...

NAIC Proposes Reinsurance Regulatory Modernization Act Of 2009

The National Association of Insurance Commissioners' (NAIC) Government Relations Leadership Council (GRLC) has approved for submission to Congress the Reinsurance Regulatory Modernization Act of 2009, a proposed federal bill that would mode...

In his business, the Americans consider life insurance more important than ever

In these challenging economic times, Americans have made numerous adjustments to shore up their family finances. Savings rates are on the rise, debt is being consolidated and slowly paid down, and people are spending and investing their mon...

Perspectives: With Congress' Focus on Health Reform, Overhauling Regulation May Be a Tall Order

Congress wasn't designed for efficiency. It's supposed to be hard to make laws. Add to that Congress' tendency toward a one-track mind, and it becomes easy to be skeptical that this will be the year for major financial-system reform. The la...

NAIC Welcomes State Legislators

The National Association of Insurance Commissioners (NAIC) welcomes nearly 50 state legislators to the Fall National Meeting. Lawmakers are in the nation's capital this week to discuss a broad range of public policies impacting insurance co...

Gov't survey Health Insurance Company Mailer

WASHINGTON_The Obama administration warned insurance companies Monday they face possible legal action for allegedly trying to scare seniors with misleading information about the potential for lost benefits under health care legislation in C...

Consultancy Management Group with Adventity

TNC Management Group, the strategy, project management, and analytics consulting firm focused on the insurance industry, announced today the appointment of Aamer Mumtaz as Director of Business Analytics. TNC also announced the formation of...

Genworth's Mortgage Insurance Business Promotes Three

Genworth Financial Inc. said its U.S. mortgage insurance business has promoted three executives into three new senior leadership positions. Reporting to Kevin Schneider, president of U.S. Mortgage Insurance, will be: Jacqui Peace, senior vi...

Vice President Joe Biden To Address NAIC

National Health Care Dialogue Highlights Fall National Meeting NATIONAL HARBOR, MD. (Sept. 19, 2009) Vice President Joe Biden is scheduled to deliver remarks on health reform to members of the National Association of Insurance Commissioners...

U.S. eating habits to blame for many health care woes

The health care system entails countless doctors, nurses, billing specialists, health insurance companies, billing companies, researchers and many patients caught up in the whole bureaucratic mess. The health care debate in America is about...

ACE USA Taps Mattheessen Lead Energy ACE Management

ACE USA, thө U.S.-based retail operаting divisin of the ACE Group, haѕ аnnounced the appointment f Keith Mattheessen as Senior Vicө President and Chief Underwriting Offiсer of the ACE Risĸ Management Eneгgy Underwriting Unit. The co...

GreenRoad CEO Garners 2009 Risk Innovator Award

GrөenRoad, а company specializing in improving driving Ьehavior, announced that Risk and Insurance magаzine hаs selected Dan Steere, CEO of GreenRoad, aѕ a wіnner of thө 2009 Riѕk Innovator Award in tһe transportation cаtegory. I...

VOLKSWAGEN SECURE US$147 MLN LOAN FOR CHAKAN PLANT IN INDIA

German auto maker Volkswagen said Saturday it has secured a Euro 100-million (US$147 million) loan from the European investment bank to part fund its development of a manufacturing unit at Chakan in Maharashtra. We have signed a contract wi...

White House Offers Medical Malpractice Initiative

The Obama administration announced a $25 million medical malpractice initiative Thursday as part of its plan to rein in skyrocketing health care costs. The program, administered by the Department of Health and Human Services, will fund grant...

Family Health Premiums Reach $ 13.375 per year in 2009, or 5 percent, inflation fell nearly 1 percent

Premiums for employer-sponsored health insurance rose to $13,375 annually for family coverage this year - with employees on average paying $3,515 and employers paying $9,860, according to the benchmark 2009 Employer Health Benefits Survey r...

NAMIC Opposes CRA Expansion to Property/Casualty Insurance Companies

The National Association of Mutual Insurance Companies strongly opposes legislation that would apply provisions of the Community Reinvestment Act to insurance companies that will be considered in a hearing today of the House Financial Servi...

Missouri to Survey Health Providers Over Untimely Reimbursements

Missouri insurance regulators are investigating complaints from health care providers that health insurers are withholding reimbursement payments for improper and extreme lengths of time. Gov. Jay Nixon issued an executive order for the Dep...

Illinois Department of Insurance Orders Funeral Directors’ Insurance Agent to Surrender License Director also imposes $100,000 fine

CHICAGO The Illinois Department of Insurance has issued an Order requiring Edward L. Schainker to surrender his insurance license due to his role in developing, marketing, and selling an insurance scheme (the Program) to the Illinois Funera...