efinancial.com Launches A Fresh New Life Insurance quotes Website

The following is a paid review:



Efinancial offers Free life insurance quotes online. View quotes from top rated national companies. EFinancial - Insuring your future.

A result of a successful partnership, the new website boasts a new design technology. This facilitates not only a uniquely entertaining viewing experience for the user but also reinforces efinancial.com’s brand values.

efinancial.com, the portal to the Life Insurance quotes provided by the global Insurance group of companies, has replaced its three-year-old design with a customer experience that enables the navigation of the complex group through ‘customer Views’. According to Adam Insure, efinancial.com’s Website Development Manager, “When you are presenting a customer with the breadth of options that efinancial.com is able to do then being able to explore the site, make new connections and gain new perspectives in the way that is enabled by, massively enhances the customer experience.”

Continues Adam, “We have always been at the forefront of driving the customer experience and this latest re-development of our site puts us firmly in the lead when it comes to customer interaction whist constantly reinforcing efinancial.com brand values in every aspect of the look and feel of the site.”

Efinancial provides life insurance rates from top carriers online in a shop and compare format. Efinancial also has an extensive learning center for life insurance information. You can start the application process online by entering information on the site. Licensed phone agents expedite the process and complete the application and schedule an exam. Customers are kept in the loop throughout the approval process.

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Allstate Insurance Company

In my opinion, if everyone has to get insurance then it should at least be handled in a fair manner. I grew up in Michigan, where it is practically impossible to get by without a car. This meant that, to get from here to there, you have to get auto insurance. And naturally, I wanted to go with the cheapest rate. The best rate I could find was from the Allstate insurance company. Unfortunately, that is before they found out that I was a teenage driver.

Once they calculated that into their rate, it skyrocketed! Because I was a teenage boy, the Allstate insurance company rate was twice as bad as it would have been if I was a girl. My sister went with the Allstate insurance company, and actually got a decent rate. I don’t think this is fair. I don’t think that an auto insurance company should be able to calculate your age in to your insurance rate.

I have a friend who worked for a Michigan insurance company, and he knows the inner workings of the industry. It is a pretty shady business, if you want to know the truth. The Allstate insurance company or any other national insurance company for that matter can use all kinds of data to calculate your insurance rates. They can make you pay more because of your age, your gender, or even your credit history.

I have a lot of trouble seeing why credit history should have anything to do with how much the Allstate insurance company charges me. If I have a good driving record, why should they have the right to charge me more just because I have a bad financial record? They are not a financial lending institution. They are not there to guarantee my bank accounts. They are there to guarantee my driving, and my driving is flawless. Personally, I think we should establish a single Nationwide insurance company run by the government. This would solve a lot of these problems.

Right now, the Allstate insurance company has one way of calculating how much to charge for insurance coverage and AAA insurance has another way of doing it. If there were one national company, there would only be one way of doing it. A nationwide insurance company would be more likely to judge you on your driving record alone. They would not be in it to make the most money possible. They would be there to provide the best automotive insurance protection possible. It would be much better for everyone except the insurance companies.

Yes, Virginia, There is Auto Insurance Fraud

For years now the debate has been raging in the public media as to whether or not there is systemic fraud in the field of automobile accident and No-Fault insurance. Industry spokespersons have long been pointing to "phony" lawsuits and illegitimate claims pressed by felonious claimants and their dishonest lawyers and doctors, all with the purpose of invading the insurance policies that some of America's largest and most profitable corporations sell to drivers at exorbitant rates. These industry mouthpieces have all the while been saying that it is the `fraud' running rampant throughout these types of cases that is the driving force behind the rise in auto insurance rates to their present unconscionable levels, and that all that needs to be done to restore balance to the world of auto insurance - as well as fairer rates to the consumer - is to crack down on this fraud.


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Insurance claims up due to bad weather

Barclays Home Insurance, a division of Barclays Bank (LSE: BARC; NYSE: BCS; TYO: 8642), has said that insurance claims from damage from cold, stormy conditions in the past two months have soared. Weather conditions in the UK during that period have included flooding, freezing snow, and a tornado in north London.

Storm damage to UK households was up by 158 percent in January, compared to the same month in 2006, the insurer said. The damages have included water damage, fences broken due to high winds, and even roofs blown off in the storms. According to the insurer, 60 percent of current home insurance claims are related to the bad weather since Holiday. Claims for the period total around £300 million, with the average policy paying out approximately £500.


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CHIP benefits may mirror other insurance programs

CHIP benefits may mirror other insurance programs

A measure to make the state’s insurance program for low- income children more like commercial products passed a Senate committee Tuesday. HB218, sponsored by Rep. James Dunnigan, R-Taylorsville, would slightly increase deductibles and co-payments for many of the families on the Children’s Health Insurance Program. Current CHIP benefits, which haven’t been modified since the program was established in 1998, are “very rich,” Dunnigan said. HB218, he said, “implements just a little bit more cost sharing” so the program can serve more children. Changes will be different for families at different income levels, with the very poorest Utah families facing very little increases, Dunnigan said. In response to concerns by advocates for the poor and the Utah Department of Health, Dunnigan has agreed to a phase-in of the changes.


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Some of Insurance Term Crucial To Understand

Principle of Indemnity

The purpose of insurance is not for the insured to make a profit but only to mitigate his losses when an insured event occurs. This is the main ground the principle of indemnity is based on.

Basically, the principle of indemnity asserts that an insured may not be paid an amount in excess of the loss incurred by him in the event the insured peril occurs. Indemnification henceforth is the restoration of an insured person to his or her approximate ,financial position prior to the occurrence of the loss.

The three supportive principles that are applied in the enforcement of the indemnity principle in insurance are discussed below


Insurable Interest

The legal right to insure a subject matter is basic to insurance and this is the basis the principle of insurable interest is formed. The principle states that an individual with insurable interest on the subject of insurance must stand to lose financially or suffer harm in some ways if the subject of insurance is damaged or destroyed or lost. Example, you have an insurable interest in your house since you stand to lose financially if it is burnt down or damaged in any way


Subrogation

This is another insurance principle that strongly upholds the indemnity principle. The subrogation principle is a process whereby the insurer is substituted for the insured for the purpose of claiming indemnity from a third person for a loss covered by insurance. This effectively means that the insurer is entitled to claim from a negligent third party any loss payments made to the insured on the case.


Double Insurance

To prevent incidence of the insured claiming from multiple policies issued on the same risk, there is a provision included in the policy to prevent the insured from claiming more than the quantum at risk. Commonly, there is a clause that provides for the sharing of the loss among insurers when the insured risk occurs, which is based on some pre-determined formulas.

John Hancock's Leading Edge Long Term Care Insurance Product Now Available in 42 States

John Hancock Life Insurance
Company's ground-breaking Leading Edge long term care insurance (LTCI)
product has been approved for sale in 42 states, including Florida and
Georgia, the company said today.

The product, introduced at the end of 2006, is now available in the
states listed in the chart below. Leading Edge, the industry's first LTCI
policy specifically designed to meet the needs and budgets of Baby Boomers,
significantly reduces the expense and complexity of buying LTCI.

"John Hancock's Leading Edge long term care insurance product is now
available to consumers across the United States to help them meet the
financial promises they have made to themselves and their loved ones," said
Laura Moore, president, John Hancock Long Term Care Insurance. "As Baby
Boomers age, they are realizing that long term care is a key part of their
retirement planning process and securing their financial future. Leading
Edge provides them with expanded coverage, reduced costs and a simplified
buying process. It enables them to secure long term care insurance
protection more easily and cost effectively than ever before."

Two Key New Features
With Leading Edge, Hancock simplified and reduced the cost of inflation
coverage, providing compound inflation protection linked to the Consumer
Price Index (CPI). Each year, the policy owner's benefit and total pool of
money increase in conjunction with the CPI.

Moore continued, "The CPI is a common measure of economic growth in the
United States, where you see pensions and social security payments linked
to the CPI. With respect to long term care, two of the primary components
of the CPI, labor and real estate, are the key drivers of increasing costs,
so the use of CPI makes much more sense than a flat percentage, which has
been the industry norm until now."

When the CPI increases, as it has done for more that 50 years straight,
the insured's benefits increase accordingly. And there is no maximum, so
during times of very high inflation as seen in the 1970s, the policy
benefits increase by the same amount, making it more likely that a policy
linked to CPI will keep pace with the cost of care. Even if the CPI goes
below zero (which hasn't happened since 1955), the benefit amount does not
decrease, rather it remains fixed at its current level until the CPI rises
again.

Another key feature of Leading Edge is the 5 Years plus $1 Million
Dollars benefit period. This new, less expensive option provides an
alternative to lifetime coverage and is designed for consumers who
anticipate needing long term care for a long time. If the pool of money
from a policyholder's 5-year benefit period runs out, an additional $1
million is added to the pool, allaying concerns about outliving financial
resources.

"Both of these innovative benefits are a result of our many years of
experience in the LTC insurance industry, and putting the needs of our
customers first," Ms. Moore said. "In addition, our proven history in this
industry along with our company's financial strength should provide a high
level of comfort to Baby Boomers or any individuals seeking long term care
insurance protection, and to producers who are offering our product to
their clients."

Ms. Moore noted several other key new features offered through Leading
Edge:

Caregiver Support Services
This feature is geared specifically to Baby Boomers who may face the
possibility of being called upon to provide care for parents and/or other
older relatives before they need care themselves.

With Caregiver Support Services, individuals have personalized
telephone and website assistance regarding caregiving questions or
concerns, access to quality reports and ratings on more than 90,000 nursing
home and assisted living facilities nationwide, and exclusive provider
discounts and care advisory services for family members. This benefit can
help the policyholders and their family members save between 7 and 35
percent on the cost of long term care provider services.

Total Homemaker and Stay At Home Services
Leading Edge offers options that help consumers stay at home for as
long as possible. First, it expands traditional home health care coverage
to include household duties, such as laundry, meal preparation, paying
bills, and having someone to watch over the policyholder to ensure
medications are taken correctly.

Second, it also covers home modifications, durable medical equipment,
caregiver training, home safety checks and medical alert systems.

There are a number of other popular options offered with Leading Edge,
such as:
* SharedCare -- enables couples to share their benefit pools
* 0-Day Elimination Period -- allows the elimination period (i.e.
deductible) to be waived for home care
* Lifestyle Benefit Changes -- provides the flexibility for policyholders
to increase or decrease their benefit amounts as needed

"Long term care insurance plays a critical role in the retirement
planning process, but we know that consumers are overwhelmed with other
priorities and sometimes put off planning for long term care," Ms. Moore
said. "We hope and expect that Leading Edge's simple structure, affordable
price and expanded home care coverage make it easier for consumers to
incorporate LTC insurance into their plans. In fact, it seems to be making
an impact already, as several of our top producers report that when they
give their clients a choice between Leading Edge and another policy, they
always choose Leading Edge."

States where John Hancock's Leading Edge LTCI product has been approved
for sale:

Alabama Alaska Arizona Colorado
Delaware District of Columbia Florida Georgia
Iowa Idaho Illinois Kansas
Kentucky Louisiana Maine Maryland
Michigan Minnesota Mississippi Missouri
Montana Nebraska Nevada New Hampshire
New Jersey New Mexico New York North Dakota
Ohio Oklahoma Oregon Rhode Island
South Carolina South Dakota Tennessee Utah
Vermont Virginia Washington West Virginia
Wisconsin Wyoming

Benefit availability and premiums may vary by state.

For more consumer information on the need for long term care and basics
of LTCI coverage, John Hancock maintains a consumer website at:
http://www.johnhancocklongtermcare.com .

About John Hancock Long Term Care Insurance
Today, John Hancock, a unit of Manulife Financial Corporation, is one
of the largest providers of LTC insurance overall with more than 969,000
clients and $1.1 billion of in-force premium.
Having entered the retail LTC insurance market in 1987, John Hancock is
the second-largest provider of individual coverage in the country. John
Hancock began selling group LTC insurance in 1988 and today is the largest
provider of employer-sponsored LTC insurance in the U.S.
In 2002, John Hancock and MetLife together were selected to administer
an LTC insurance program for federal employees, retirees and various family
members across the country. The program is the largest single employer-
sponsored LTC insurance program of its kind.
About John Hancock and Manulife Financial
John Hancock is a wholly-owned subsidiary of Manulife Financial
Corporation, a leading Canadian-based financial services group serving
millions of customers in 19 countries and territories worldwide. Operating
as Manulife Financial in Canada and Asia, and primarily through John
Hancock in the United States, the Company offers clients a diverse range of
financial protection products and wealth management services through its
extensive network of employees, agents and distribution partners. Funds
under management by Manulife Financial and its subsidiaries were Cdn$414
billion (US$355 billion) as at December 31, 2006.
Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and
PSE, and under '0945' on the SEHK. Manulife Financial can be found on the
Internet at http://www.manulife.com .
The John Hancock unit, through its insurance companies, comprises one
of the largest life insurers in the United States. John Hancock offers a
broad range of financial products and services, including life insurance,
fixed and variable annuities, mutual funds, 401(k) plans, long-term care
insurance, college savings and other forms of business insurance.
Benefit selection may vary by state. Long Term Care Insurance is
underwritten by John Hancock Life Insurance Company, Boston, MA 02117

Car insurance fraud 'substantially up'

Car insurance fraud has risen substantially in recent years, with both organised crime and false claims from normally law-abiding motorists on the up, an insurance company has claimed.

According to insurance provider Direct Line, both premeditated and opportunistic instances of motor insurance fraud have increased significantly, pushing up premiums as a result.

Emma Holyer, a spokesperson for Direct Line, said that organised fraud rings that take out multiple policies on one car that they deliberately crash before claiming personal injury costs are rife today.

"They may crash into an 'associates' car and then they lie and say the car had passengers in it which also claim for PI costs," she explained.

However she said that motorists who otherwise obey the law are also driving the increase in insurance fraud by making dishonest claims when they do have an accident, such as a rear end shunt.

"They claim they have suffered injuries - such as whiplash - and claim from the other insured," she said.

The rise in car insurance fraud coincides with an increase in car insurance premiums. Figures from Sainsbury's Bank show that the average car insurance premium rose by 2.1 per cent over 2006 to £472.52.


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Buyout of Insurance Group Advances

DOVER, Del. — Delaware’s insurance commissioner gave conditional approval Tuesday to the proposed management buyout and eventual dissolution of the Royal and SunAlliance Insurance Group’s operations in the United States.

The decision by the commissioner, Matthew Denn, follows the recommendation included in a hearing officer’s report this month. Mr. Denn said he would stay his decision for five business days to allow opponents time to file a court appeal.

To ensure that American policyholders are protected, Mr. Denn said his approval of the buyout was conditioned on Royal and SunAlliance’s agreeing to submit to the jurisdiction of Delaware courts to resolve any claims brought by policyholders.

Kedar Bryan, a spokesman for the insurer’s American operation which is based in Charlotte, N.C., declined to comment on the developments.

Royal and SunAlliance said in 2003 that it did not consider its struggling United States business central to its main operations, and it stopped writing new policies with the eventual goal of exiting the American market it had served more than 150 years.


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The 10 costliest cars to insure

Yes, the cost of repairs has something to do with it, but who drives them and how fast they're driven also are huge factors. Here are the 10 costliest to insure -- and the 10 cheapest.

If you're shopping for a new car, chances are you're considering things such as gas mileage, vehicle size, comfort and even that all-important CD system. But have you checked on the cost of insurance?

A quick call to your agent might help you narrow your choices -- and avoid a second case of sticker shock after you drive your new car home.

The reason: Along with your own driving record, your ZIP code and the demographics of the drivers in your household, the make and model of your vehicle can have a big effect on your insurance bill, says Russ Rader, spokesman for the Insurance Institute for Highway Safety. Of all of those factors, the type of vehicle you put in your garage is the only variable you can change immediately.

"The choice of the car itself is going to affect, in particular, what you will spend for comprehensive and collision," says Jeanne Salvatore, senior vice president of public affairs for the Insurance Information Institute.

Why some cost more
Collision-damage costs are one of the main factors in differentiating the cost of insuring one type of car over another, says Rader. To a lesser extent, you also want to look at how attractive the car is to thieves.

Vehicles that top the insurance-cost list tend to be either high horsepower, high dollar or expensive to repair, Rader says. An expensive choice: "Sporty cars that are favored by young drivers who are risky drivers, so they are crashing a lot."

Higher horsepower means the driver is more likely to be going faster and getting into more accidents. That will send insurance rates up for everyone who owns a similar car.

Many of the vehicles that are expensive to insure "share a common problem, and that is horsepower," says Kim Hazelbaker, a senior vice president with the Highway Loss Data Institute, an affiliate of the Insurance Institute for Highway Safety.

Size matters
Some think that a smaller, more maneuverable car is able to outrun trouble and avoid crashes. It's a myth, Rader says.

"When you look at the statistics and insurance claims, small sports cars tend to be in more crashes," he says. Adding to the problem: "They tend to be engaged in faster driving."

From a statistical standpoint, the safest models tend to be the full-sized family sedan-type cars, he says.

A few other special circumstances can also send rates through the roof. If a car is a popular target for thieves, your insurance company might charge you higher rates.

If you're driving a high-priced car, it will likely cost more to fix after a collision. As a result, your insurance bill will go up when you add it to the policy, Rader says. Likewise, some luxury or high-end cars feature aluminum body panels that are more expensive to fix or replace than sheet metal, he says.

One other factor to consider: How much damage is your vehicle likely to inflict in a crash?

As sport utility vehicles have become more popular, insurance companies have had to study and factor that issue into premiums, Salvatore says. As a result, if you drive an SUV, your liability premium (which covers damage to other vehicles), could be higher because of the increased damage a vehicle of that size can cause in an accident, she says.

The 10 cars with the most expensive collision losses, starting with the most expensive, from 2002 to 2004 figures from the Highway Loss Data Institute are:

Most expensive models to insure
1
Mitsubishi Lancer Evolution

2
Mercedes CL-Class

3
Dodge SRT-4

4
Subaru Impreza WRX

5
Jaguar XK (convertible)

6
Lexus IS 300

7
Honda S2000

8
Acura RSX


9
Nissan 350Z

10
Jaguar XJ



Don't let the list scare you; insurance cost isn't necessarily a reflection of safety.

"A safe car is not necessarily the cheapest car to insure," Salvatore says. The car itself could also be expensive or just expensive to repair after an accident, which would increase insurance costs.

But a high rate is a red flag to ask a few questions. For instance, if a car has a lot of horsepower and is involved in a lot of crashes, that can also send insurance rates up, even if the car itself is relatively inexpensive.

So if you're getting ready to buy your teenager that dream model and the insurance rate comes back sky high, it may be a tip that it's time to search for another make and model.

The least expensive
Sometimes the driver really does make all the difference.

Insurance companies and crash analysts have noticed that vehicles most often associated with family transportation -- such as minivans, station wagons and family sedans -- get in fewer crashes than the high horsepower hotrods that appeal to young male drivers.

"It's pretty traditional to see things like station wagons and minivans there -- vehicles probably operated by soccer moms in non-aggressive fashion," Hazelbaker says.

In addition, many (but not all) of the vehicles that rank low in collision costs also tend to be "generally, not real expensive vehicles," he says.

The 10 least expensive models to insure, in terms of collision losses, starting with the least expensive are:

Least expensive models to insure
1
Volvo XC90

2
Chevrolet Malibu Maxx

3
GMC Safari

4
Buick LeSabre

5
Nissan Pathfinder Armada (2004 only)

6
Pontiac Montana (standard model)

7
Mazda MPV

8
Ford Thunderbird

9
Pontiac Montana (extended model)

10
Ford Taurus (station wagon)



Just as with the most costly picks, a variety of reasons can land a vehicle on the least expensive list. For instance, the Volvo XC90 and Chevy station wagon that make the top of the "best" list are "likely to be family vehicles, driven differently than the vehicles on the "worst" list," Rader says. And the Ford Thunderbird, he says, "tends to be a second or third car and is not driven as often."


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Car accidents: Who is most at risk?

What could make a bad car deal worse? A wreck that leaves you owing thousands on a car you don't own anymore.

If you did everything wrong while acquiring your last vehicle, you may still be able to do at least one thing right. And that's buying so-called "gap insurance."

Gap insurance kicks in when the amount your insurer would pay for your totaled or stolen car falls short of what you still owe on the loan or lease.

Chances are good you need gap insurance if:

You purchased a new car and didn't have a down payment of at least 20%.
You're leasing a car.

You're financing for more than four years.

You rolled debt from your last car into your current auto loan.

I outlined why these car-buying practices are usually bad ideas in "The real reason you're broke." They are, unfortunately, fairly common scenarios that typically leave people "upside down," or owing more on their cars than the vehicles are worth.

Yet gap insurance remains a relatively unknown product, said Patrick Olsen, managing editor of Cars.com.

"As soon as you drive off the lot, depreciation kicks in," Olsen said. "I don't think people are aware of the danger they could be in."

If you don't make a 20% down payment, for example, you'll be upside-down on the car from the minute you drive off the lot, and you'll typically stay that way for two to three years, depending on the length of your loan. If you get in an accident or the car is stolen during that time, you may be in trouble.

Video: Should you buy or lease?
"The insurance company will pay you what the vehicle is (currently) worth, and that's not necessary the same as what you owe," said Mike Meredith, financial editor for MSN Autos. "It could be a lot less."

You could be pushed over the edge
Here's an example. You buy or lease a car for around $25,000. Several months down the road, it's totaled, but your insurance check covers only the car's current value, which is about $20,000. Not only do you have to find new wheels, but you're on the hook to the finance or lease company for that $5,000 gap. It's not uncommon for cars to lose two-thirds of their value in just three years. (See MSN Autos' list of vehicles that hold their value best.)

If you rolled debt from your old loan into your new one, that amount you owe could be even larger. One out of four vehicles that are financed includes debt rolled over from a previous vehicle, according to vehicle research site Edmunds.com, and the average amount of so-called "negative equity" is more than $4,000.

If your finances are already shaky, the gap between what you owe and what you're paid could be enough to push you right over the edge.

"It could be the difference between staying afloat and having to declare bankruptcy," said Phil Reed, consumer advice editor for Edmunds.com and co-author of the book "Strategies for Smart Car Buyers." At a minimum, you could be saddled with expensive and unwelcome debt.

If you're not sure where you stand, you can use the Kelley Blue Book tool on MSN Autos to see how much your car is really worth and compare that to what you owe. Insurers typically pay an amount somewhere between the car's trade-in value and what you'd get in a private sale.

Not to worry
Now, there are two scenarios where underwater drivers don't have to worry about gap insurance:

If it's already included in your lease. In some states, including New York, leases by law must include gap coverage, Olsen said.
If your auto policy is written to cover the gap. This isn't the norm, but some auto policies promise to pay off a loan regardless of what the car's worth. You can try reading your policy to see if you're covered for any gaps, or simply call your insurer and ask.
If you don't have coverage already, the solution fortunately doesn't have to be that expensive. A premium of a few hundred dollars should cover you for the life of the loan or lease. You typically can buy the coverage:

From the dealershipor auto finance company. It's probably the most expensive choice, especially if you roll the cost into your monthly note. You'll be paying interest on it, plus paying for coverage even after you're no longer upside-down on your loan.
From your current auto insurer. It's usually the best choice, if your insurer offers the coverage. Farmers Insurance, for example, offers gap coverage at a flat rate of $25 every six months to Washington drivers. You can drop it once you're sure you're in the black.
From another insurance carrier. You can look for gap insurance providers; make sure they have top marks from one of the rating services such as A.M. Best, Standard & Poor's or TheStreet.com Ratings (formerly Weiss Ratings).
The best time to shop for coverage is before you even set foot on the dealer's lot, Reed said. He advises calling your insurer to get a quote for coverage as soon as you decide what car you're going to buy. But all isn't lost if you fail to plan that far ahead.

"It'll be cheaper through your agent than through a dealership," Reed said, "but you can always buy it (at the dealership) and cancel it later" once you've got coverage with your insurer.

Video: Should you buy or lease?
If you're a savvy enough negotiator, you may be able to get the dealership to lower its premium, Meredith said, particularly if you already know what coverage would cost through your insurer.Some dealerships and insurers require you to get the coverage when you buy the car, but others let you add it later. If you don't have gap coverage and need it, it's worth the effort to search for a company that will sell it to you.

Like most insurance, it's something you may never need, Meredith said, but "it's a really good thing to have if you need it."


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Vocabulary of Insurance

Coverage: A promise to pay a certain type of claim if it occurs (exammples include automobile liability coverage, theft coverage, and so on).

Deductible: The amount of a loss that you payout of your own pocket before insurance kicks in.

Liability: Your financial obligation to another person for injuries or property damage you cause.

Liability coverage: A promise in an insurance policy to defend you in court and pay what you owe another person for injuries or property damage you cause.

Peril: A cause of a loss (examples include windstorm peril and flood peril).

Policy: The legal contract between you and an insurance company in which the company agrees to pay covered claims when you have them in exchange for a monthly (or some other periodic) payment from you. Any given policy contains many coverages.

Premium: The price you pay for the insurance policy covering a defined time period - six months or one year.

Insurance is...

~ Insurance is mistakenly bought and sold primarily on price, ignoring the fact that insurance policies are complex legal contracts full of exclusions and limitations.

~ Alarmingly, the vast majority of consumers have at least one, and usuually several, major gaps in their coverage - leading to potentially disasstrous results at claim time.

~ Many of those gaps can be plugged without significantly increasing insurance costs, just by transferring premium dollars from relatively unimportant coverages to pay for the missing coverages.

NY Times Op-Ed Author's Secret Marketing Bridge

There's an interesting NY Times New York region op-ed that's supportive of marketing ventures most anywhere, like Geico's unsuccessful George Washington Bridge toll plaza marketing deal.

Titled "The Bridge to Prosperity," the op-ed written by Paco Underhill discusses how corporate sponsorships have long existed in philanthropy, such as the Metropolitan Opera selling naming rights to seats, and even civic institutions are working with corporations (think about the city's own Snapple deal) to make more money. Net net: Marketing is here to stay, so why freak out so much?

The last line of Underhill's op-ed reads, "Faced with the choice of looking at a cute lizard or paying an extra 25 cents to cross a bridge, what would you choose? If not Geico, another company will gladly fill the space." Which would compel most people to nod their heads and say, "Hey, I can deal with a lizard - especially a cute one - at the toll plaza!"

But there's a BUT. Underhill's credit line on the op-ed reveals, "Paco Underhill, a geographer, is the author of 'Why We Buy: The Science of Shopping.'" So most people reading the story might think, oh, that's nice, a geographer with a knowledge of consumer behavior wrote this. 2007_02_pacounder.jpgBut nowhere in the op-ed does it disclose that Underhill is the founder, CEO, and president of Envirosell, a "behavioral market research and consulting company" that is a "testing agency for Fortune 500 banks, stores, restaurant chains and consumer product companies."

So when Underhill writes, "And for that matter, why were Chase and Commerce Bank recently chastised for projecting advertising onto the sidewalks outside their city branches? Shouldn’t we applaud these companies for their creativity and bill them for the use of public space?" there's no mention or disclosure that one of his clients is in fact Chase. Could it be that geographer is less biased while geographer with marketing consulting company is not?

Gothamist has read "Why We Buy" and highly recommend to everyone it because it shows how fine-tuned observations can lead to better shopping experiences (which any and every company wants). We think Underhill is a smart guy, but we question why he and/or the Times didn't mention his possible other motives for writing the piece.

And about the Geico gecko not appearing at the GWB: While some preservationists were against the Geico-GWB sponsorship, the deal was quashed because there was concern that Geico's $3.2 million offer was too low and that the Port Authority didn't consult with the proper state authorities to discuss the deal, suggesting that future sponsorships may not be out of the question.


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Geico to hire 230 at call center

Insurance giant Geico said Thursday it is planning to hire about 230 policy-service and claim-service representatives at its Tucson office by the end of the year. The jobs start at $14 an hour, potentially more for candidates who can work evenings.
Geico opened its customer- service operations center at 930 N. Finance Center Drive in 2003, and it has grown to more than 600 employees.

In September, the company announced plans to add 600 Tucson jobs in a 15-month period. Since then, it has added more than 125 positions.

The 230 jobs announced this week are part of the previously announced expansion plan, said Charlotte Fick, human-resources manager at the Tucson Geico office.
"It's not as many as the 600 we originally thought about," she said. But the wages are higher than they've been, she said.

The company is starting customer-service workers at $14 an hour with a 10 percent shift differential for people whose shifts begin after 1 p.m., Fick said.
Though some firms have scaled back or eliminated their call-center presence in Tucson, the industry here is not shrinking, said Laura Shaw, vice president of marketing and communications for Tucson Regional Economic Opportunities.
"Most of the customer-service centers here seem to be expanding," Shaw said.
The closures are indicative of the stiff competition for employees, she said.
Such competition is good because it raises wages and benefits for these kinds of jobs, she said.

"Sometimes the lower-paying ones will shake themselves out, so to speak."
Call centers come to this region for a variety of reasons, she said, including the availability of a bilingual work force and the Mountain Time Zone that allows for more work hours as people work with customers on both coasts.
"For many Tucsonans, they're probably very good, solid opportunities," Shaw said.
Geico, originally an acronym for Government Employees Insurance Co., is the fourth-largest private passenger-auto insurer in the nation.


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GSI Hosts CavemansCrib.com for GEICO

KANSAS CITY — When GEICO sought an apartment for their prehistoric spokesperson that could accommodate unlimited visitors, they turned to GSI. The newly launched site, http://www.cavemanscrib.com, is housed in GSI's new state-of-the-industry AirWorld Technology Center in Kansas City, Missouri.

"GEICO came to us with a quick and aggressive turnaround schedule and GSI's network staff was ready to meet the challenge," explains Terry Madden, Vice President of Business Development for GSI.

GSI has a proven track record with hosting high-traffic viral and traditional marketing campaigns for top national and international brands. GSI founder and CTO Robin Greenhagen is excited to be a part of the new interactive campaign: "GSI consistently performs as Managed Hosting Service Provider for our brand-driven customers. We have delivered reliable solutions for top agencies and brands on these types of critical projects. We are happy to add GEICO as a client. I love the caveman concept and this innovative new site."

GEICO (Government Employees Insurance Company) is the fourth-largest private passenger auto insurer in the United States. It provides auto insurance coverage for more than 7 million policyholders and insures more than 12 million vehicles. GEICO, a member of the Berkshire Hathaway group of companies, is rated A++ for financial stability by A.M. Best Company. GEICO keeps its rates low by dealing directly with the customer. GEICO provides consumers with outstanding sales, service and claims capabilities on its geico.com Web site 24 hours a day, seven days a week. 15 minutes could save you 15% on car insurance. For more information, go to http://www.geico.com.

GSI (GreenSoft Solutions, Inc.) is one of the top managed hosting service providers in the advertising and regulated hosting industries. Headquartered in Kansas City, GSI has a roster of dozens of major brands and agencies in their portfolio. GSI continues to develop innovative and effective solutions that service the needs of high-visibility ad campaigns and security-conscious clientele. GSI operates four datacenter facilities from Kansas City, Missouri to New York, New York. For more information, go to http://www.gsihosting.com.

Insurer Plans to Expand Tucson Work Force

Insurance company Geico plans to add more than 200 new customer service employees at its Tucson call center by the end of the year, part of a planned expansion that has already added 125 workers since September.

Geico opened its Tucson customer service-operations center in 2003, and it has grown to more than 600 employees.

The 230 jobs announced this week are part of a previously announced expansion plan, said Charlotte Fick, human-resources manager at the Tucson Geico office. The company said in September that it planned to add as many as 600 new positions.

Starting pay for customer-service workers is $14 an hour, with a 10 percent bonus for shifts beginning after 1 p.m., Fick said.

Geico, originally an acronym for Government Employees Insurance Co., is the fourth-largest private passenger-auto insurer in the nation.


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Insurers report claims increase

STAUNTON — If you woke up Wednesday morning to property damage because of the ice storm that blew through the Valley, chances are you had a hard time getting in touch directly with your insurance agent's office.

Numerous offices were closed because of the weather. Many callers heard recorded messages to call back later or to contact the insurance carrier directly.

Augusta Insurance Agency was one that remained open. Co-owner Steve Marshall still was taking phone calls despite no electricity or heat at his office in Staunton.

"We're getting cold," he said good-naturedly. "We've got our coats on."

Marshall said his office fielded a few claims before 11:30 a.m. but that it wasn't as busy as expected. "Our lines have been fairly quiet," he said.

Discovering property damaging can be disconcerting. Marshall suggested those wanting to report damage "call an agent so they can get an adjuster out there." He noted that some major carriers — like Hartford Insurance — prefer you call the company itself, and they will in turn promptly dispatch an adjuster.

Once the damage is discovered, don't do too much clean-up until an adjuster has assessed the situation, Marshall said, although it's up to the property owner to prevent additional destruction. "So if you have a hole in the roof you need to try and get that repaired," he said.

One type of insurance that can come into play following ice storms is food spoilage coverage, Marshall said, which is typically carried by grocers and restaurants. But he said area claims because of spoilage are low because power companies usually have electricity back up and running within 24 hours.

"Our power companies do such a good job," Marshall said.

State Farm agent Dave Alexander said damage caused by lightening, high winds, ice and falling objects are covered under a homeowner's insurance policy. And if your ice-laden tree falls onto your neighbor's house? The neighbor, not the tree owner, needs to get in touch with his insurance carrier, Alexander said.

Alexander's State Farm office in Stuarts Draft took more than a half-dozen storm-related calls early Wednesday morning. "We'll probably get a few more," he said, adding, "For this type of situation, it's about normal."

With forecasters calling for high winds later in the day, Alexander said more insurance claims could come rolling in. "If we can get the ice thawed before the wind comes, we'll have dodged a bullet," he said.

E. Thomas Jennings, owner of Prosure Inc. on Greenville Avenue in Staunton, said most of the claims his office received Tuesday were for minor damage to homes and cars.

"Nothing serious," he said. "Mostly homeowners with fallen tree limbs."


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New co-op to provide insurance to farmers

More than three years after state officials passed legislation designed to help lower health- care costs for agriculture producers, a health insurance cooperative has been established to cover individual Wisconsin farmers as one group.

The Wisconsin Federation of Cooperatives is scheduled to launch The Farmers' Health Cooperative of Wisconsin today with the promise of comprehensive insurance plans at more affordable prices than the private coverage farmers receive on their own.

"It allows farmers to come together in a large group and use their enhanced buying power to negotiate a more favorable health insurance plan," said Bill Oemichen, WFC president and chief executive officer.

The cooperative's launch was preceded by the Co-op Care initiative, started by the WFC in 2003. State officials hoped to have some type of cooperative insurance in place by the end of 2004, but further clarification of the law was needed in 2005 and 2006 to ensure individual farmers would be recognized as part of a larger group.

The cooperative will be available to all farmers and their families, farm employees and those who serve agriculture such as feed mills or milk delivery drivers.

Oemichen said that under the cooperative's coverage plans - which will be insured through Aetna of Hartford, Conn., and administered by Agri-Services Agency of Syracuse, N.Y. - any type of workplace injury on the farm would be covered, something most farmers don't have coverage for. With six types of plans offered, ranging from low deductibles of $300 to a high of $5,000, the plans will also include drug coverage, $500 worth of preventative health-care per year per member, and a tax deductible health-savings account.

Oemichen would not say what individuals can expect to pay for the insurance because rates will vary widely by individual.

Patty Endres, who with her husband Dave operates an 800-head dairy farm in Lodi, is already paying premiums of $26,000 per year for coverage of the couple and their three children.

But despite the cost, Endres, who has had a heart transplant, is very happy with their coverage, which is under a group plan that includes the farm's 10 employees.

She's cautious of the new cooperative offering. For Endres, living without insurance isn't an option. "I'm anxious to see more about" the cooperative plan, she said. "We just have to make sure it works (and is sustainable) before we go on it. . . . We can't be without coverage."

When The Farmers' Health Cooperative plan becomes active April 1, it will have a network of 125 hospitals, 500 care facilities, 17,000 physicians and 24-hour nurse and 24 hour claims hotlines, Oemichen said.

With 18 percent of Wisconsin farmers uninsured and 41 percent unable to afford to insure every family member, Oemichen said many are leaving the farms altogether to get adequate coverage. "The number one reason (people get out of farming) is because of the lack of affordable, quality health insurance," he said.

Wisconsin Agriculture Secretary Rod Nilsestuen expects the program to partially alleviate what has become a major stress in farm life and has forced many families to find some work off the farm just to receive insurance.

"A $2,000-a-month premium is not unheard of for a dairy farmer," Nilsestuen said. "Well, these aren't CEOs. They don't have the bucks to pay that. . . . This is a product that has significant promise."

The cooperative has received a $72,000 start-up grant from the Department of Agriculture, Trade and Consumer Protection, a $450,000 grant from the Wisconsin Partnership Fund and a $10,000 grant from AgStar Financial Services. Federation of Cooperatives' members have invested about $600,000. The WFC also worked with Sen. Herb Kohl, D-Wis., and Rep. Dave Obey, D-Wausau, to secure $2.4 million in federal funding for the initial operating capital for the cooperative.


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Insurer plans to cut Florida policies

The Hartford Insurance Group is set to reduce both its commercial and homeowner insurance business in Florida. Tower Hill and American Strategic are also cutting back.

The Hartford Insurance Group has notified state regulators that it plans to cut its commercial and residential property insurance business in Florida in the next 18 months.

Two other insurers, Tower Hill Insurance Group and American Strategic Insurance, are paring back coverage.

In a letter sent to agents Thursday, Tower Hill said that as a result of the emergency order signed by Gov. Charlie Crist late Monday, it won't write any new business in 16 coastal counties -- from Breverd County on the east coast of the state and south of Pasco County on the west coast. That includes all three South Florida counties.

The emergency order ''was designed to place additional restrictions on insurers beyond those originally intended by the state's insurance law that resulted from the Legislature's special session held in January,'' Tower Hill said in its letter to agents.

American Strategic is not writing policies for homes built before 1995.

In the meantime, agents say they are getting inquiries from clients who have policies with rates that are more than 25 percent higher than what is being charged by Citizens Property Insurance, the state-run insurance pool. The new insurance law passed by the Legislature in the special session nearly two weeks ago allows homeowners who are quoted these higher rates to opt for a Citizens policy.

Some policyholders currently with The Hartford companies in Florida might eventually find themselves buying coverage from Citizens if they can't find an insurer in the private market. The Hartford companies will begin non-renewing policies in August 2008.

The Hartford, which has 10 subsidiaries writing commercial policies in Florida, will pare about 24 percent of its commercial coverage, further evidence that the state's commercial market is still in a crisis. These will be small and mid-sized business policies. It said about 126 of the 141 agencies that it works with in Florida will be affected.

It will shed nearly 23,500 commercial policies. Dropping these policies will represent a $118 million reduction in the commercial premium the company writes in Florida.

The company didn't specify how many homeowner policies will eventually not be renewed. These will be policies mostly through through agents. However, it will continue serving more than 80,000 AARP members with homeowners and other personal property insurance through the company's national program with AARP.

Like other insurers who have cut back their exposure in Florida since the 2004 and 2005 hurricane seasons, Hartford said this was business decision that ''will help to ensure that we meet our future obligations to the thousands of policyholders we continue to serve'' in this state.

In a letter to Florida's insurance commissioner, Kevin McCarty, the insurance company said its current commercial exposure in Florida exceeded ''its acceptable limit'' and didn't allow it to to make a sustainable long-term profit from its personal property insurance business in this state.

''We are not leaving the state,'' reiterated Joseph Loparco, a company spokesman.

Hartford submitted its plan to reduce some of its business in Florida to the Office of Insurance Regulation on Friday.

It won't run afoul of the emergency rule put in place Tuesday that prevents insurers from canceling or nonrenewing policies for 90 days. Regulators put in place the changes mandated by the massive insurance reform bill passed by lawmakers last week.

''We would prefer the company would be increasing their exposure rather than cutting it back, but it's doing so in a very orderly fashion,'' said Bob Lotane, a spokesman for the Office of Insurance Regulation.

The company says most customers whose policies won't be renewed will have 18 to 30 months to find a new insurer.


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Insurance regulators approve Liberty Mutual rate hike

Liberty Mutual insurance company won state regulators' approval today for an increase in its rates on Louisiana policyholders by an average of 13 percent, affecting about 24,000 homeowners.

The Louisiana Insurance Rating Commission voted, 2-1, to approve the hike. The 13 percent increase is a statewide average, meaning much higher hikes for policyholders closer to the hurricane-vulnerable Gulf Coast and possible reductions for those
further north.

Kelly Davis, Liberty Mutual's director of Louisiana operations, said the company has stopped writing new policies in storm-wracked parishes such as Orleans, but plans to continue insuring its existing customers along the coast.

At the request of Hartford Insurance Co. of the Midwest, the regulating panel postponed considering a homeowners policy rate
hike request from that company. The request, for an average increase of 35 percent, would affect 7,600 Louisiana policyholders.

The rating panel has authority to approve or reject any insurance rate increase of more than 10 percent. Insurers can increase rates by less than 10 percent without the panel's approval.

Gov. Kathleen Blanco has criticized the insurance industry in general for overreacting to Hurricanes Katrina and Rita, saying they are threatening the region's recovery by withdrawing coverage and charging exorbitant rates.

Blanco tried to assure more than 100 members of the Reinsurance Association of America that the state is on the right track, making Louisiana better protected against future storms.

The federal government has spent more than $1 billion to strengthen more than 100 miles of levees and floodwalls, Blanco said, and homes are more storm-resistant because the state has adopted its first statewide building code and the federal government has created new flood elevation maps.

NEW LOCAL: Liberty Mutual employees evacuated

Liberty Mutual Insurance Co. employees were evacuated from the Wilmington Road building yesterday when a computer electric system malfunctioned.

Neshannock Township Fire Chief John DiCola Jr. said he received the call around 5:30 p.m. as an alarm in the computer room. A malfunction in the electric system had caused the room’s extinguishing system to activate.

Although heat had built up, there was no fire, but the computer system was disabled. No injuries were reported, he said.

Liberty’s computer room is secured and has its own extinguishing system, which releases a gas to dissipate the oxygen, DiCola explained.

He said not many employees were working, but the building was evacuated.

“We got them back inside pretty quickly, because it was mighty cold outside,” DiCola said.

The company’s computer technicians were working to correct the system problems this morning, he added.


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He built a tiny insurance agency into a fortune

A businessman who dropped out of the University of Oregon to make his fortune in the insurance industry is now heading the school's athletic department.

Pat Kilkenny, who spent 22 years transforming a small San Diego insurance firm into a $1 billion business, was named Wednesday as the UO's new athletic director, succeeding Bill Moos.

Colleagues say Kilkenny's business acumen, ability to motivate and personal touch are skills that will serve him well in his new job.

"Building a business, you need a team," said Andrew Barile, an insurance consultant who advised Kilkenny early in his career and later went to work for him. "A team is a team. ... The concept is exactly the same: Get everyone on the same page working together."

Kilkenny said that when he was growing up in Eastern Oregon in the 1960s, people left their keys in their cars and their houses unlocked.

"I grew up in an environment where I trusted people," he said. "The same thing applied in the company I built. ... It's all about empowerment and delegation and trust. People want to work in a culture where they are given a lot of autonomy ... to go out and make a difference, where someone isn't constantly looking over their shoulder."

After graduating from Heppner High School in 1970, where he was student body president, Kilkenny attended the University of Oregon. Though described in past news stories as a 1974 graduate, Kilkenny left the UO in 1973 without a degree. He studied pre-law and journalism.

Kilkenny said he got a job in the insurance industry in December 1973. He enrolled for winter classes, but the job required him to travel frequently, and later to move - first to Seattle, then to San Francisco - so he never finished his studies.

From 1979 to 1984, he owned a majority interest in a Seattle firm that sold specialty insurance. In 1984, he acquired Arrowhead General Insurance Agency Inc. in San Diego. At the time, Arrowhead was a small company with $2 million in premiums for non-standard auto insurance, aimed at high-risk consumers.

Over the next 22 years, Kilkenny built Arrowhead into a nearly $1 billion business, underwriting and producing commercial, worker's compensation and personal insurance products for 19 national and specialty carriers. The firm is now the largest privately held insurance program manager in the country, CEO Frank Ruyak said.

Kilkenny sold his interest in the company last summer but retains the title of chairman emeritus. He said his net worth is "north of $100 million."

In 1988, Kilkenny turned to Barile, then a New York insurance consultant, to help him expand the company beyond personal insurance and into commercial. Barile advised him how to grow the business, find markets and structure deals.

"He had tremendous vision, and he learned fast," Barile said. "Back in 1988, he told me constantly he wanted to build a $1 billion premium agency. ... He never was afraid to take a risk."

He also had a can-do attitude that should help in his new job, Barile said. When he was trying to expand into commercial insurance, he had no agents, no underwriters, no information technology.

"His philosophy was, don't worry, we can make it happen," he said.

Ruyak, who has known Kilkenny for about 20 years, said Kilkenny made sure he surrounded himself with the right people, and was willing to delegate. "He is by no means a micromanager," Ruyak said.

Along the way, Kilkenny became one of the UO's biggest fans and boosters. His office at Arrowhead was festooned with UO memorabilia, Ruyak said.

Since 1998, he has given $1 million for the construction of the Moshofsky Center practice facility, $1 million for the expansion of Autzen Stadium and $1.5 million for architect's plans for a basketball arena.

Another Great Reason Why You Should Always Purchase Travel Insurance

You probably have heard it on the news these last few days - airport closures and long travel delays in the Midwest and Northeast because of heavy snow. Eastern regions of the United State and Canada are also expecting an additional 50 inches of snow to fall within the next few days.

This could have been you - stranded in an airport wondering if you are going to make your flight connections and get to your Caribbean cruise before it departs the New York port. Wouldn't that be a dreadful way to start your holiday?

What happens when you finally get to New York and your cruise has departed? Last minute hotels in New York is expensive. What about dinner? Is it possible to meet your cruise at the next port and how do you arrange a flight to get you there? I would be pulling my hair out trying to figure out what would be the next logical step. And all these added costs! All of a sudden my travel spending budget has been cut in half, if not a quarter, before my holiday even starts.

This is why you should always protect your travel investment with insurance. So what if your past cruise holidays have been uneventful? The law of probabilities will soon catch up to you. We can not control everything - the weather, the traffic and air schedule. The sooner you realize the importance of being able to have a hassle free holiday and purchase that much needed insurance, you will have a better peace of mind. And, they will help you get to the next port!

AIG Travel Guard, the largest provider of travel insurance in the United States, reports that they were flooded with calls for assistance from stranded travellers trying to depart from or return to the affected regions.

"Our LiveTravel assistance center has received more than double the normal volume of calls from travelers needing help to rebook cancelled flights and make alternative hotel reservations," reports Dan McGinnity, AIG Travel Guard Vice President. "The delays and airport closures have stranded travelers in airports throughout the country because such major hubs like Chicago's O'Hare and Washington's Dulles and Reagan National have been affected. Most of our clients have been rebooked on alternate flights and will be on their way home today or tomorrow. We expect the increased call volume to continue this week as the Midwest storm moves East today and tomorrow. Next week we anticipate a significant number of calls from customers filing trip delay and cancellation claims."

If you purchased insurance, you could have immediate 24/7 access to Travel Guard's LiveTravel emergency service hotline. What is that good for? Rebooking cancelled flights, making alternative hotel reservations or assisting with ground transportation.

Travel Guard's Cruise Travel insurance will provide you with adequate coverage for delayed trips and cancellations due to winter storms or other severe weather. So, if you were to cancel a trip due to severe weather conditions, your insurance will provide reimbursement for nonrefundable covered expenses.

Travel insurance is a necessity that you never leave home without, and should be considered a priority after purchasing your cruise. Your travel agent will provide you with information on what coverage is perfect for your holiday. Better yet, if you want the best insurance rates, request a free cruise travel insurance quotes from AIG Travel Guard.

'Insurance firm fined'

A financial services provider has been fined £175,000 for mis-selling insurance policies to consumers.

Capital One received the fine as the Financial Services Authority (FSA) reported it did not provide 50,000 customers with enough information about their payment protection insurance (PPI) cover.

Director of enforcement, Margaret Cole, said: "It is unacceptable for people to be put at risk of buying unsuitable protection insurance through not being given the right information at the right time."

She added that consumers should remember PPI is "almost always optional" and consumers should consider whether they actually need it.

PPI provides cover for consumer's personal loan repayments should they run into financial difficulties.

Last month the FSA warned a number of motor, home and travel insurance companies to stop using their advertising campaigns to mislead consumers into thinking they will be able to make savings on their insurance claims.

However travel insurance saving claims were reported to be of a higher standard than their counterparts in the motoring and home insurance industries.

Insurance and Commercial Real Estate

One of the least considered, but perhaps most important aspects of successful real estate investment is insurance against losses. Even though the market for residential real estate has begun to cool, commercial real estate investment opportunities abound. Commercial properties have additional risks that need to be mitigated and in today’s litigious society, it is important for investors to take the steps necessary to protect themselves and their investments.

As the housing market begins to cool off, the investment risk of real estate has increased somewhat. Residential and commercial real estate investors can no longer rely on a continually increasing market to bail them out of mediocre or bad purchases. The only real insurance you have here is to study investment analysis further and to really check your market before committing funds to a transaction.

There are other risks in commercial real estate that you can mitigate through third party insurance policies. The most common form is title insurance. Most real estate professionals recommend that buyers obtain title insurance on any property they purchase and if a loan is involved, the lender will make it a condition of obtaining the loan. The purpose of title insurance is to protect the buyer in the event that problems are found with the title after the close. Even though all sales of real estate include a title search, it is a good idea for the buyer to purchase separate title insurance as an extra measure of protection against mistakes in the search. This extra insurance will help protect the buyer in the event of any undiscovered liens, disputes over property lines, or other matters affecting title.

Another common, but important form of insurance for investment property is liability insurance. This provides the investor protection from liability in the event an individual is injured while on the property. It is all too common for individual property owners to be sued for seemingly frivolous reasons, so it is vital for all property owners to carry a sufficient amount of liability insurance to protect themselves and their personal assets. It may also help to have your insurance professional “walk” the property with you to point out potential hazards before they become law suits.

Hazard insurance provides protection in the event of damage from fire, accidents, theft, and vandalism. Depending upon where you live, you might want to look into adding protection from storms and natural disasters. All owners of real estate should have this insurance and again, if a loan is involved, the lender will require you to purchase it and name them as an additional insured.

Environmental insurance is a new form of risk management that is gaining in popularity with lenders. Instead of performing Phase 1 and Phase 2 environmental studies, more lenders are opting for insurance against this type of loss. Because lender liability is limited in current law, the focus is on paying the outstanding loan balance or the cost of clean up, whichever is less. A word of caution here: Make the lender get the insurance (you’ll still have to pay for it) … it’s not your job to understand the intricacies of environmental pollution and its risks.

In addition to these basic forms of real estate insurance there are other types of coverage that you may wish to consider. For instance, those properties located in or near flood zones may wish to purchase flood insurance, while those in earthquake prone regions may want to consider the purchase of additional earthquake insurance. And in the wake of 9/11, there is even the opportunity to purchase terrorism insurance!

In the final analysis, each real estate investor has to look at his or her own level of risk tolerance and what might actually affect the real estate investment. From there, with the help of an experienced commercial hazard insurance broker, you can then purchase the right mix of insurance needed to adequately address and mitigate those risks.

Bank fined over insurance policies

FSA says it failed to provide enough information

Capital One Bank was fined £175,000 today for failing to adequately protect consumers against the risk of being mis-sold unsuitable insurance policies.

Between January 2005 and April 2006, the credit card firm neglected to ensure that 50,000 customers received important information about Payment Protection Insurance, the Financial Services Authority (FSA) ruled.

As a result, consumers were unable to check what they were covered for or if the policy was right for them.

The fine follows an investigation by the City regulator into the Payment Protection Insurance (PPI) market.

It found that Capital One had inadequate systems and controls for selling PPI insurance and as such failed to treat its customers fairly.
Insufficient information

PPI provides financial cover for policyholders who are unable to pay bills due to ill health or redundancy.

But critics claim that the product is vastly overpriced, difficult to claim on and in many cases sold to the wrong people.

During 2005, Capital One sold approximately 335,000 PPI policies on UK credit cards.

But as a result of inadequacies in its selling practices, the firm failed to provide sufficient information to more than 50,000 customers, the FSA found.
Demand for better practice

Margaret Cole, director of enforcement at the FSA, said: ‘We are determined to see much better practice in PPI. This fine, and other recent PPI-related enforcement cases, show we will crack down when firms fail to treat customers fairly in this area.

‘It is unacceptable for people to be put at risk of buying unsuitable protection insurance through not being given the right information at the right time.

‘And consumers should also remember that PPI on credit cards and loans is almost always optional and consider whether they need it before signing up.’

Last month the regulator handed a fine of £610,000 to store card provider GE Capital Bank as part of its crackdown on PPI failings - its largest penalty relating to the issue to date.

Today's fine against Capital One could have been higher, but the firm qualified for a 30 per cent discount by agreeing to settle early.
Improvement project

A statement from Capital One said that prior to the FSA investigation it had already started a project to ‘significantly improve’ its sales and administrative processes concerning PPI.

Sanjiv Yajnik, chief executive officer of Capital One Bank Europe, said: ‘Capital One values its relationship with its four million customers.

‘We consistently review our policies and practices and had made a number of significant improvements prior to the FSA's investigation.

‘The FSA has recognised that Capital One cooperated fully throughout the investigation.’

State Farm Insurance will stop writing new policies for Mississippi

Citing uncertainties in the Mississippi legal and business environments, State Farm Senior Vice President Bob Trippel recently told Mississippi's Commissioner of Insurance George Dale that State Farm Fire and Casualty Company will suspend writing new homeowners and commercial property insurance in the state of Mississippi.
"We came to this decision reluctantly," said Trippel. "But it is no longer prudent for us to take on additional risk in a legal and business environment that is becoming more unpredictable. When there's more certainty, we will reassess the situation."

The Commissioner of Insurance George Dale immediately released a statement on the recent announcement from State Farm, "I regret that State Farm has chosen to make this decision at a time in the state's Hurricane Katrina recovery process when it is becoming more vital than ever, that policyholders in Mississippi have a viable and affordable insurance market. As I have said over and over again, rebuilding on the coast cannot continue without it."

Dale promised to encourage insurance companies to continue providing affordable and accessible coverage for the citizens.

"State Farm's decision is a stark reminder that the issues brought about by Hurricane Katrina affect not only the coast, but policyholders all across the state," he said.
"State Farm's actions clearly illustrate the importance of passing the Wind Pool legislation I sent to the legislature in order to help stabilize a volatile insurance market and prevent other companies from making similar decisions."

What is Insurance

'Insurance' and 'assurance' are indeed terms ofter: used interchangeability. However, there are som semantic differences between them. The tern: 'insurance' refers to providing cover for an event thaamight happen while assurance is the provision ècover for an event that is certain to happen.

When a person insures the contents of his home does so because of events that might happen; fIr"'" theft, etc., insurance is a way of spending a littmoney to protect against the risk of having to spen lot of money.

The point is, when a person insures their ho contents they do so to provide protection agai: something that might happen.

When a person insures his life, he knows that he

die one day. Therefore a policy that covers dea assured to make a payment. An accidental d policy is not assured to pay on death as the insured may not die through an accident, therefore is an 'insurance' policy.

Such strict differentiations are academic in to practices. The Insurance Act, 1996 does not re the distinction to be made.

Announcing the Official Launch Of Blog Daddyyankeegasoline.blogspot.com

Simple Internet which already has quite an impressive array of online assets such as hghlook.com, weightlosshd.com and donomarlive.blogspot.com has announced the official launch of their Daddy Yankee weblog or “blog.” The company believes that the blog will be an excellent complement to its innovative motivated die hard fans lead subscription service.

The blog will feature a running commentary by Simple Internet Managing Director, John Tiesto, in addition to providing news and informative articles from entertainment world and other entertainment professionals from around the country.

“We recognize that most music rapper today fail in communicating directly with their fans and as we’re always striving to be a groundbreaking company we’ve decided to take a different tact with our blog. That’s why we’re integrating the conventional news and informational website featuring notable contributors with the relatively new commercial application of a blog, which is typically more personal and offers a more direct line of communication with our rapper fans. I think they’ll appreciate it,” said the Managing Director.

In addition to regular contributions by John Tiesto the company plans on offering a great latest news for Daddy Yankee section. The blog already features a public discussion forum, a growing Daddy Yankee terms glossary and a news and information section which consolidates mainstream news articles from the many online entertainment news offerings.

For more information please visit http://daddyyankeegasoline.blogspot.com/


Tags: daddy yankee, cartel, barrio fino, reggaeton, cangri, music, biography, gasolina, daddy yankee pictures, gasoline, news, barrio fino en directo

Home Buildings & Contents Insurance

Home buildings & contents insurance is offered by numerous insurance companies and can be arranged through various outlets such as direct with the insurance company, on the internet or through an insurance broker. As the cost of providing such cover varies between insurance companies it is worth getting a number of insurance quotes.

BUILDINGS INSURANCE

Buildings insurance covers damage to your home including your patio. walls and drive caused by such things as fire, subsidence, theft, storm and flood.

In the event of you needing to move out of your home until the repairs are completed insurance cover is provided for hotel accommodation.

Damage due to burst pipes is covered within a home buildings & contents insurance policy.

Surveyors, architects and legal fees are insured following damage to your home.

Your garage and garden shed are covered.

Permanent fittings such as kitchen units, wardrobes in the bedrooms and bathroom fixtures are insured by your home buildings insurance policy.

CONTENTS INSURANCE

Contents insurance covers such things as theft of jewellery, paintings, tv, computer and other personal belongings in the home and outbuildings.

In the event of a fire or flood in the home your contents, such as your furniture and floor coverings, are insured should they be damaged usually on a new for old basis.

It is pleasing to note that your home contents insurance policy provides cover in the event of vandalism.

If you include accidental damage cover your contents are insured should you, for example, spill a tin of paint on your carpet or your furnishings.

Contents in the garden and the theft of monies from your home are covered by your home contents insurance policy.

If you include personal belongings insurance in your policy then, should you damage or have your camera stolen whilst it is away from your home, the policy will pay out.

The contents in your freezer are covered.

A home buildings & contents insurance policy has other options such as cover for pedal cycles and legal protection insurance for your family.

You must study the policy conditions for the home buildings & contents insurance policy as there are a number of exclusions, excesses and limits on the amount of cover provided for certain items.

Premiums are usually payable by direct debit either on a monthly or annual basis-if you pay monthly then a number of insurance companies who provide home buildings & contents insurance charge more than if you pay annually.

Storm, flood threats have insurance rates on rise

The threat of hurricanes has New Jerseyans paying more for homeowners' insurance this year, especially along the Shore.

Rates have risen about 7 percent statewide and 12 percent along the coast since Hurricane Katrina ravaged the Gulf Coast in 2005.

"Generally, [insurers] are concerned about being overexposed," said Jim Gardner, spokesman for the New Jersey Department of Banking and Insurance, which approved the rate hikes.

Increased coastal development, higher property values and forecasts of more hurricane activity this year have insurers raising rates and decreasing their exposure along the Atlantic Coast, even in the Northeast, where a Katrina-like catastrophe is a real possibility, industry experts say.

Nor'easters and ice storms remain a concern, but a major storm such as the Great Hurricane of 1938, which ripped through Long Island and New England and cost more than $15 billion in 2007 dollars, is the industry's nightmare scenario.
FORECAST '07:
Day 2:
Housing
* * *

Forecast '07
Additional Articles

U.S. insurers caught a break in 2006 and enjoyed record profits when no hurricanes made landfall, according to Jersey City-based ISO, a data gatherer for the insurance industry. In 2005, a record 28 named storms formed in the Atlantic Ocean, and 15 became hurricanes.

But with long-range forecasts of more frequent and more powerful storms, insurance rate increases are likely to continue. Some insurers have pulled out of high-risk areas, and many have raised their rates and deductibles.

Most notably, Allstate Corp., the nation's second-largest home and auto insurer behind State Farm Insurance, has aggressively reduced its exposure to windstorms.

Allstate said in December it would stop selling new homeowners policies in New Jersey, Connecticut and Delaware and that it would end coverage for about 16,000 homeowners in the Carolinas. The Northbrook, Ill.-based insurer also has dropped customers in Florida, New York City and Westchester County and Long Island in New York, citing the potential of increased storm damage.

Meteorologists at Colorado State University, among the most closely watched weather forecasters, predict 14 named storms will form in the Atlantic Ocean in 2007, compared with a yearly average of 9.6 from 1950 to 2000. The Fort Collins, Colo.-based university also forecast seven hurricanes for this year, compared with an average of 5.9.

Homeowners in some coastal states have had a hard time finding coverage for homes near the water and have had to turn to the so-called residual market, the high-cost insurers of last resort.

But "an ample number" of private companies are still writing homeowner policies at the Jersey Shore, Gardner said.

When Shelby Casualty Insurance Co., a Texas company that insured thousands of coastal New Jersey homes, failed last year, other insurers quickly stepped in to take over the policies, Gardner said.

Michael R. Murray, a financial analyst for ISO, said insurers have good reasons to raise rates and lower exposure along the New Jersey coast. Consider, he said, that in Louisiana, it took insurers more than 20 years to build up premiums equal to the direct losses they suffered from Katrina.

Some insurers that have retreated from the Atlantic and Gulf coasts are now deploying their capital in inland neighborhoods. "We are seeing that for areas not exposed to hurricane losses, competition is increasing," Murray said.

The Consumer Price Index for homeowners insurance nationwide fell 1 percent between the third quarters of 2005 and 2006, Murray said.

But in the coastal areas, "the experience is different," he said.

Meanwhile, Gardner said the state Department of Banking and Insurance is working on a disaster-preparedness plan this year, just in case. It will address such issues as making a disaster zone accessible to insurance adjusters, securing damaged homes to prevent further insured losses and assuring that banking networks stay up and running so they can clear claims checks.

The 2005 hurricane season also brought attention to shortcomings in the federal flood insurance program, which is $20 billion in debt from recent storms such as Katrina and Rita and is targeted by lawmakers for reform.

Standard homeowners' policies do not cover flood damage -- including damage from storm surge. Only about half of the victims of Katrina had flood insurance. The federal government has stepped up marketing of the program in states along the Atlantic Coast, including New Jersey. Even in flood-prone areas, fewer than one-third of Northeasterners have flood insurance, according to the Federal Emergency Management Administration.

A typical flood policy would nearly double the $600 average annual cost of homeowners' insurance in New Jersey. And premiums could increase in the years ahead as lawmakers push to make the federal program self-sufficient, with vacation homeowners likely to see the largest increases.

Sales of federal flood insurance policies rose more than 13 percent nationwide last year, according to FEMA, which runs the program.

Everyone should consider buying some level of flood insurance, whether they live in a flood plain or not, experts say. When Tropical Storm Floyd caused extensive flooding in New Jersey in 1999, many homeowners living near rivers and streams found out the hard way that they were uninsured or under-insured against flood damage. Wayne Township plans to limit future losses by using $5.9 million in federal and state aid to buy and tear down 41 frequently flooded homes in the Hoffman Grove subdivision.

For many New Jersey homeowners, federal flood insurance with coverage limits of $250,000 for buildings and $100,000 for contents is not enough.

Private insurers are willing to step in to cover the gap -- for those willing to pay hefty premiums. Warren-based Chubb Corp., for instance, said recently it would start selling high-deductible flood insurance along the New Jersey coast for the first time. The coverage would kick in when damage exceeded federal flood insurance limits.

Premiums will vary depending on needs of the customer but generally would range from $5,000 to $7,000 a year for $1 million to $2 million in coverage, a company spokesman said.

Invest in renter's insurance

What would you do if your computer, stereo, TV, calculator, clothes, books, camera, etc. were stolen or destroyed by fire?

In lieu of recent events at both West Virginia and Marshall universities, it is important that students realize the need to carry renter's insurance. This is the only way to insure you have protection in the event of some sort of disaster.
Although landlords more than likely have insurance on buildings, students need to protect their personal interests, too.

Check with your insurance agent to get a quote for coverage of your belongings while attending WVU. Damage to personal items is the responsibility of the renter in the event of waterline breaks, electrical fires, vandalism and theft.

Coverage is typically available for as little as $100 to $200 a year with a deductible of $250, based on the national average.

It makes sense for you to take stock of what you have and prepare to prevent its loss. Students should consider taking an inventory and photographs of personal possessions to prepare for these situations.

When looking into renter insurance coverage, consider options such as personal liability, which typically provides coverage if you, as an insured person, are legally obligated to pay damages due to bodily injury of others. It also covers damage to others' property.

Also consider guest medical coverage, which provides protection for your guests who are accidentally injured on your property as a result of a covered loss. This protection pays for the reasonable and necessary medical expenses they incur, regardless of who was at fault, according to AllState.com.

Most competitive insurance companies offer free estimate quotes on the Internet.
Though you are not required by law to purchase renter's insurance, every student should consider it a wise investment -- just in case.

Insurance Fraud

Sure, people commit health insurance fraud all the time, but just thinking about it the other night, perhaps health insurance IS the fraud. Just think for a moment:

1. Health insurance companies are alive because doctor bills are extremely expensive.
2. Doctor bills are extremely expensive because health insurance companies are there to pay them.

It’s a chicken and an egg. It’s a loophole. It’s ludicrous. Now, you have to have health insurance because you have to see your doctor. If there was no health insurance, doctors would have to lower their rates.

Let’s look at this from a hypothetical:

1. Start a paper-clip insurance policy.
2. Tell the paper-clip manufacturers that they should raise their prices exorbitantly till the consumers can’t pay for it themselves.
3. Consumers will buy the paper-clip insurance policy because they need their paper-clips.
4. Paper-clip manufacturers will get their money from the insurance company.

Am I missing something???

World Bank funds insurance project

AN insurance project that has been pursued by the Office of Insurance Commission for the last two years is set to get a financial backing of US$300,000 from the World Bank.

The project “Papua New Guinea: development of a risk based capital and assessment system for non-life insurers” was officiated last Wednesday by Treasury Minister Sir Rabbie Namaliu .

Sir Rabbie said the project would assist the country’s non-insurance industry to improve evaluation of risks, which in turn should lead to adequate capitalisation of the industry.

He noted that the appropriate capitalisation and solvency of insurance companies was critical for the insurance industry and the risk-based capital method will assist to achieve this.

“The insurance industry has a vital role to play in the economic and social development of Papua New Guinea by insuring risks so that businesses and individuals will be able to cope with and recover from their losses,” Sir Rabbie said.

Some of the benefits from the scheme highlighted include more efficiency from the insurance company while fairly pricing their products to reflect the relative risks of products; reduced likelihood of systemic failure of the insurance sector; greater alignment between the insurance; greater alignment between the insurance sector with risk-based capital norms in the banking and financing sector; and making management easier and skills for staff more transferable.

Other benefits include reduced need for costly, inefficient and ineffective forms of prudential regulation that do not assess risk and greater alignment of the regulator’s measure of risk with that of the insurance companies’ own internal measures of risk.

Equal health insurance pricing isn't fair

People with low risk for health problems should be eligible for lower premiums than high-risk policyholders.

This article will save you and your employer many thousands of dollars if you follow the advice I give at the end of it. Ready? Let's begin.

The five basic health habits are managing your weight, maintaining low blood pressure, exercising, not smoking and practicing positive mental health.

Dr. Marc Manley, a vice president of Blue Cross and Blue Shield of Minnesota, told Twin Cities Business magazine this month about a survey that shows people with fewer major health risks cost their employer about $1,700 for health care annually while people with unhealthy risk profiles cost their employer $5,000 or more a year.

Remember those dollar differences when you take this true-or-false quiz on risk pricing.

1. Good drivers pay less for car insurance than bad drivers.

2. Fire insurance for brick homes costs less than for wood homes.

3. Daily walkers pay less for life insurance than daily motorcycle riders.

4. Healthy people pay less for company health insurance than unhealthy people.

In most parts of the insurance world, lower risk always pays less than higher risk. So the answers to 1, 2, and 3 are true. The answer for No. 4, however, is false. When it comes to health care premiums, the healthy pay the same as the unhealthy.

Hoping that equal pricing for unequal risk was a Minnesota peculiarity, I used a Google health insurance search to compare costs. I found cost comparisons by gender, age, single or family, size of family, deductible levels, resident location and even mental state. But nobody compared costs by healthy vs. unhealthy risk profile because nobody sells it that way.

As an insurance broker and consultant for many years, mostly in commercial lines, I have long wondered why health insurers won't give people with a low-risk health profile the same kind of price break that the fire insurance companies give to "healthy" buildings, known in the trade as highly protected risk (HPR) buildings.

HPR buildings are engineered not to burn. If you are in one now, you can see the ceiling sprinklers, redundant water valves and the extra-fire-resistant construction material. These "healthy buildings" are charged significantly lower insurance premiums than other commercial buildings. And because the buildings are given regular "health" checkups, these dramatically lower premiums are remarkably stable over time.

Using the "healthy building" risk-pricing model, let's look at the risk-pricing for your health insurance. Each of us has what I call a three-part health risk profile:

• Health habits. Remember the five key habits -- weight management, low blood pressure, exercise, no smoking, positive mental health -- and add seat belt usage.

• Health condition. These are the relatively common conditions that result from aging or injury and might include mild arthritis, diabetes, dimming eyesight and higher cholesterol.

• Health heredity. These are the genetically inherited traits that may predispose a person to heart problems, cancer and other maladies.

Insurance companies use your three-part risk profile when pricing your life insurance. But they don't use it for pricing your corporate health insurance.

Yet this pricing philosophy clashes with a recent Purdue University study showing that 74 percent of all medical spending is directly attached to a person's health habits. The three-year study, which focused on Purdue University employees, was competed in 2006.

So instead of charging people with good health habits (lower risk) lower premiums, the industry charges all of us a high average premium. Then, after overcharging you in the first place, the health insurers make additional money by obsessing and nit-picking over what gets spent on your sickness.

And to make it worse, health insurers make you and your employer foot the bill to control costs. I look with awe on corporate-funded fitness centers, health promotion executives, fitness plan co-coordinators, wellness programs, health improvement committees, etc. Stop. I'm exhausted. And so is your employer. What chutzpah by the insurance companies.

Treo Insurance. Why is it not Available?

Can anyone tell me why phone insurance for any Treo (or any Smartphone, PDA phones, or any expensive phone) is not covered by Cingular? I have contacted Cingular support a numerous times to get a better understanding why it is not covered but they keep saying they can’t.

First of all I say “not insured” by “Cingular” is because Cingular uses Asurion as their phone insurance company and I was with T-mobile just about 3 weeks ago, before I switched to Cingular to get the Treo 750, and they covered my Treo 600 and my brother’s T-Mobile Dash and my Mom’s T-Mobile MDA and T-Mobile also used Asurion.

Cingular reps kept saying that the Insurance company doesn’t allow insurance on any PDA phones or Smartphone then I told the rep that that they did when I was with T-Mobile. The Cingular reps keep telling me that it is the insurance company. So I called Asurion and asked them and they said they do but Cingular doesn’t allow them to insure PDA or Smartphone’s. So I called Cingular again and ask why and time the rep told me that they don’t insure these types of phone because PDA phones and Smartphone’s cost too much to insure them.

I know that most likely no Cingular rep looks at these forums, they should, but it doesn’t make sense not to insure the high-end phones but only insure the low-end phones. It is like Cingular is stabbing their customers in the back by letting them buy a really expensive phone and if anything happens to it besides manufactory’s errors you out of luck and have to buy another one. Is that how Cingular makes extra money? I have always heard about how inadequate Cingular’s customer care was but man this stinks.

The Importance Of International Travel Medical Insurance

Traveling on vacation or business is usually a lot of fun; exploring new places and cultures while enjoying new cuisines adds to the experience and pleasure of visiting new destinations but, at the same time, you must take into consideration the possibility of any sort of accident that may happen at any given moment. Therefore, international travel medical insurance is essential every single time you take a trip abroad.

Where And How To Obtain International Travel Medical Insurance

Usually, when you book your vacation, your travel agent is responsible for letting you know about international travel medical insurance as well as its coverage and cost. All airlines expect you to have one as a requirement in order to be able to fly out of the country.

If you are booking your flight tickets online, then you will probably be prompted to purchase international travel medical insurance as well; the insurance itself is not very expensive depending on the regulation of the country you are about to visit as each country applies different laws and regulations.

What Does International Travel Medical Insurance Cover?

International travel medical insurances usually covers any accidents that may happen when you are traveling; emergency evacuation and sometimes even refunds of travel costs; this feature usually differs from one insurance company to the other. Take a moment and read the medical insurance you are about to buy for even if you may never expect to have any such emergencies you never know what may happen next and you will need to fall back on the medical insurance you just purchased.

Helpful Tip

International travel medical insurance is a precautionary matter that most travelers need to carry even if they have other medical insurances as well; they cover international laws and regulations and, therefore, apply only when you leave the country.

International travel medical insurances differ vastly depending on the country you are about to visit, therefore, ask all relative questions before you are in an emergency situation and realize that you don’t even know how to get in touch with your insurance company or what types of accidents they cover.

Accidents happen everyday and even if it is the last thing that will ever cross your mind when planning a vacation or trip abroad, being careful and prepared can only keep you safe in case you should ever need international travel medical insurance.

Term life insurance is essential

There is nothing more sobering that talking about death. There are no words of true comfort, no actions that can be taken to ease the void left in one's figurative heart and often there are no answers to the question of "why." Still, we mere humans are left to pick up the pieces of a life numbed by loss and go on striving to make our days valuable and joyful.

This week, our lives were touched by loss when my husband lost a very close and dear friend. Gone is the laugh and the carefree smile we saw and heard. Never again will the phone ring to hear Jonathan's loud burly voice on the other end. We feel the pain as we grapple with waking up each day and knowing it is another day without someone you love in it.

The younger we are, the less we think about death and the consequences of life without a loved one. Still, as we get older, until loss invades our life, we go on and often do not plan for what could happen.

I have never met anyone that loves talking about death. Much as it is uncomfortable, death is a part of life and planning for that eventuality is critical and exceptionally important as one goes through life's journey.

There is a general rule of thumb when it comes to considering the role life insurance can play in your life.

At every major life-changing event, you need to consider life insurance. When you enter the workforce, purchase your first dwelling, incur other debt, get married or enter into a committed relationship, have children, and beyond — these are all events that bear the need to seriously consider life insurance.

Insurance of any kind simply protects those you and your family against a certain type of loss. In most cases, all you may need is "term life insurance" which protects you against the loss of life for a specific amount of time or term.

When you enter the workforce, ask questions of your employer. Some will offer you life insurance of a dollar amount or tied to your salary. Some include this as a benefit. Find out if there is a cost and if so, please make sure the insurer is legitimate and rated highly by AM Best. If the insurance is less than satisfactory, consider using an outside source for your insurance needs. If you are very young, unattached and have no debt to speak of, consider purchasing between $10,000 and $20,000 in term insurance to cover your final expenses.

When you purchase your first dwelling, consider insurance before the first stick of furniture moves in. A bank may need you to have mortgage insurance if you are unable to put down a significant down payment. If you put down a tidy sum, you want to be sure you can eventually pay off the mortgage, particularly if you have others living with you that are dependent on your income.

You may wish to consider life insurance on the chief wage earner so your family can continue to live in that home should your life end unexpectedly.

Once a spouse, partner or children enter the picture, life insurance is just a part of life. Once you have other lives entwined with yours, life planning financial needs become much more complicated and increasingly important. This is where term life insurance can play a role. When your children are young, term life insurance can be purchased on a parent's life to cover the needs of the children until they are 18 or beyond. If you have two children under the age of 7, you could purchase a life insurance policy for their 35-year-old chief wage earner parent to cover a term of 20 years. Such policies are relatively inexpensive. When you have children, insurance on a non-working spouse is important as well.

It is critical to consider insurance long before you think you will need it. The younger you are, the healthier you are and more settled you are, the lower the cost of insurance. While there are good uses for "whole life" insurance, most of the time term life is all you need. Besides, you are usually going to be better off investing your own money and paying for life insurance rather than giving investment money to a life insurance company and letting them invest it for you.

If all this seems very confusing, please visit www.moneycentral.com. Once there, scroll to "planning" and click on "insurance." Go to "insurance tools" and click on "insurance lifetime needs estimator." It's a great tool for evaluating your needs. Armed with some knowledge, ask your other trusted professionals for the name of an insurance professional who will adequately and affordably cover your needs.

Loss is something we can never escape. We feel it deep in our soul and mourn the incomprehensible passage as a life we love enters a new journey, one we can't continue on. At least not just yet. Money can never protect those you love from the loss of your presence in their lives. Insurance can ease the loss by giving your loved ones one less worry.

Insurance policies: Buy only if needed

NEW YORK - The American writer Ambrose Bierce once said that insurance is "an ingenious modern game of chance in which the player is permitted to enjoy the comfortable conviction that he is beating the man who keeps the table."

Indeed, insurance policies do provide us peace of mind in the face of the unknown. But that doesn't mean that you should get suckered into every type of insurance policy out there. In some cases, you're already winning. Here are the insurance policies you can do without:

Extended warranties

They're usually not worth it, especially if you're buying a small electronic item such as a DVD player or blender. The standard warranty that comes with your purchase -- whether it's a car or an electronic appliance -- is usually enough.

Rental-car insurance

Before you pay the extra cash to insure a car you're renting, check your own auto insurance policy first. According to the Insurance Information Institute, in most cases, the coverage on your personal car policy will apply to a rental car (if it's for pleasure and not business). So check before you buy a redundant policy from the rental car company.

Flight insurance

The chance you will be involved in a plane crash is extremely rare. According to the PBS show "Nova," for the average American the chance of being killed in a plane crash is 1 in 11 million. Besides, your life insurance policy should already cover you if any kind of tragedy strikes.

Life insurance for kids

Life insurance is to make sure that your dependents are secure in the event of your death. Children generally don't have dependents or debt. Instead, invest in your children's college education

Credit card insurance

This coverage will pay your credit card bill if you can't make your payments due to job loss or disability. It's a smarter idea to avoid accumulating credit card debt and using the money you'd spend on insurance to pay down your bills. What's more, the fine print on such policies often contains many exclusions. And don't forget "credit card loss insurance," which claims it will cover you if your card is stolen. It's totally unnecessary -- federal law limits your liability to $50 per card.

Disease insurance If you're pitched specific policies that cover cancer, heart disease or other serious illnesses, don't buy it. There's a better way to protect yourself -- it's called health insurance.

The more you live, the less your life (insurance policy) is worth

I recently began the process of qualifying for additional life insurance coverage at a lower rate — a sure sign my life has become dull and largely uneventful.

The insurance industry is built on risk, and yet a huge volume of resources are directed toward making the risk smaller. The companies don't offer additional life insurance to people who are not contributing to the cause.

I'm a poster boy for the cause.

They ask a lot of personal questions while you're buying life insurance. I'm 45 years old, which means I get asked some of the same questions twice.

"Do you have plans to travel outside the United States?"

"No."

"Does your work require you to travel outside the United States?"

"Only when it's my turn to neutralize subversive counterintelligence cells."

Jokes like that can leave your beneficiaries high and dry.

Kidding aside, my current lifestyle does not create a lot of risk for anyone.

After this most recent question-and-answer session, I sensed that I was a fairly safe bet.

I don't climb mountains.

I never surf, scuba dive, water ski or participate in competitions involving personal watercraft.

I don't snow ski, snowboard, hang glide, paraglide or bungee jump.

I have no plans to race cars, motorcycles or go-carts.

I do not own a small airplane or possess a license for piloting one. (They still printed paper tickets and allowed shoes the last time I flew on a commercial airliner.)

No traffic accidents or speeding tickets — or even speeding — in recent years.

And I don't belong to or plan on joining any paramilitary groups.

When I last applied for life insurance, I casually admitted to being an occasional cigar smoker. That one nearly activated the trap door.

We secured my policy — and my chair — only after intense negotiations with the home office and a sworn affidavit testifying that I never inhale cigars or consume more than 12 in a year.

Since I haven't even smelled someone else's cigar 12 times over the last year, I left that one blank this time.

The only sticking point in the current application was over cancer.

"Have you ever been treated for cancer?"

"Yes."

The jolt lowered my chair about a half-inch.

"What kind of cancer?"

"Skin cancer."

"Melanoma?"

"Basil cell. The mildest form."

My chair slowly returned to floor level.

I should be grateful that my wife and children stand to benefit more than ever in the event of my untimely demise.

But the process has left me feeling a little like I never venture off the path between home and office.

And sometimes, by golly, I do!

When the ink is securely dry on this insurance form and the blood tests are cleared, I'm liable to go climb a big rock somewhere and hang glide back down.

At the very least, I'm taking the back way to work. I might even stop at the cigar store.

Health insurance rise down to surgery cuts

National Party says massive increase in number of people signing up for health insurance is down to surgery cuts

The National Party is attributing a massive increase in the number of people signing up for health insurance to surgery cuts.

More than 15,000 people joined insurance plans last year, with 1.37 million now covered.

Health Minister Pete Hodgson says it is down to the population, which is increasing by approximately 40,000 each year.

He says about a third of the population has health insurance at any one time.

Mr Hodgson says the reduction in those choosing comprehensive insurance instead of opting for more limited coverage is also unsurprising.

He says the cost of going to the GP has halved in the last few years for most people.

But National's health spokesman Tony Ryall believes people are responding to the dumping of thousands from non-urgent surgery waiting lists.

He says people are worried they have to get sicker and sicker to get surgery in a public hospital.

He says it is the first time in eight years the number of people with private health insurance has increased.

No talks yet on insurance coverage for maids

KUALA LUMPUR: Discussions have yet to begin with Takaful Malaysia over plans for a consortium of companies to provide insurance coverage for foreign maids.

Deputy Home Affairs Minister Datuk Tan Chai Ho said Takaful’s representatives had notified officers of his ministry of the plans but that was as far as the idea has progressed.

He said, however, the ministry was all for having insurance coverage for foreign maids.

"Yes, we are aware of the plans. But we have not had any discussion with Takaful yet," he said after presenting donations to 150 senior citizens at the Jalan Ikan Emas wet market in Cheras.

"As for the premiums, that falls under the purview of the Finance Ministry and Bank Negara. My ministry has nothing to do with it."

Tan was asked to comment on a Berita Harian front page report yesterday which stated that Takaful Malaysia was in discussions with the ministry.

The report also stated that the premiums would come to RM95 per year.

Employers who have taken out insurance for their foreign maids currently pay premiums of between RM30 and RM33 per year.

Asked if it would be made compulsory for foreign maids to have insurance coverage, Tan said it was a possibility.

"Right now, it is not compulsory. Should the plan by Takaful be approved, then may be we will make it compulsory.

Tan presented ang pow of RM150 and rice, oranges and biscuits to each of the senior citizens.

The donations came from Tan and the Jalan Ikan Emas Market Hawkers and Petty Traders Association.

What Insurance Is For

I recently redid my insurance, and it brought up some interesting points.

Not just about insuring cameras. I'm pretty familiar with the pitfalls of insuring cameras, and you are too, probably. Oddly enough, my old "hobbyist" cameras were insurable, but my latest DSLR wasn't. I use it for professional purposes, and I use it outside the home. The bottom line is, if you have any appreciable investment in cameras and photography equipment, you need a separate insurance policy for them.

I insured my books (which I have to inventory, though—is that going to get done?) and my CD collection, on which I put a replacement value of $10,000. That wouldn't replace what I have, but I figured if I had $10k to spend on CDs after a fire, I'd be satisfied.

The interesting thing that came up was related to the CDs: what about iTunes music? Presumably, my computer could perish in a fire, and it—the computer, and even the software I have on it—is covered. But what about my iTunes music, the value of which exceeds the value of my software by a considerable margin? My agent's assistant said, "I don't think that's covered." I translate that to mean, "If push came to shove, you're raw meat and we're an alligator."

And that brought to mind a further thought. Years ago, a photograph was legally held to be worth $1,500. (I don't know what the current law is, since I'm essentially out of the business.) Mostly, this covered cases of lost submissions to magazines and other clients, and I dimly remember it being a cause of periodic disputes, chiefly because it was either way too much or way too little. The thought was this: if my house went up in flames, what about the value of my pictures?

Much of the value of my negatives and digital picture files is personal, of course. And some of it is potential—or at least, so I hope. In the past three or four years I've essentially stopped shooting 35mm B&W, after 20 years of shooting that way, and one ambition I have is to collect the best of my 35mm B&W work into a book. If I were to lose all my negatives to disaster, obviously that book would never get made, and that would be a loss—to me. Of course I couldn't prove that the raw material for any such book has monetary value, even though it might have.

But, in point of fact, I do happen to have a few dozen negatives and picture files that have actually earned more than $1,500—a few have earned three or four times that. Would insurance cover those few "earners," or would they essentially be like iTunes music—valuable, but good luck getting reimbursed for them? This brings up so much "gray area" that it's positively murky. If a negative earned $1,500 in the past, does it have that much value, or has all its value already been realized? If one picture file earned $2,500, does another similar picture file have that much potential value? How would you prove that? No wonder the law assigns arbitrary values to pictures.

There are numerous examples in history of irreplaceable photographic archives being lost to disaster. Most of Carleton Watkins' archives were destroyed by the San Francisco earthquake, for example. The answer from an insurance standpoint would seem to be: if you want your pictures to be insured, take out a separate policy for them, assign a value to them, and pay the premium for it.

Even some archives which were given every chance to survive, haven't. Jacques Lowe, for example, was a talented shooter who was also President John F. Kennedy's official White House photographer. His archive—tens of thousands of irreplaceable, historically significant negatives—were carefully organized and stored under ideal conditions in a bank vault. The bank, unfortunately, was in the basement of the World Trade Center. No trace of any of it was ever found.

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Insurance in Bahrain

A license from Bahrain Central Bank was granted to establish Aman Bahrain Insurance Company, with a paid up capital of 20 million USD.

1. AMAN signs an agreement with Kuwait based Boubyan Takaful Insurance Company
2. AMAN achieves 22 per cent emiratisation
3. AMAN IPO for increasing the capital ends with an outstanding success of 166.6%
4. AMAN IPO starts today to increase its capital
5. AMAN IPO starts May 25th to increase capital to AED 200 Million

» more AMAN news
Commenting on this exciting development H.E. Sultan Saeed Al Mansoori Chairman of Dubai Islamic Insurance and Reinsurance Company (AMAN):

'The Gulf region is witnessing an unprecedented economic growth, making it a save haven for investment, in particular Bahrain market showed a high demand for Islamic takaful insurance as indicated by the feasibility studies, and this was the main reason that encouraged us to establish an Islamic insurance company in Bahrain'.

Bahrain has earned a reputation as one of the main financial centers in the region. Key contributing factors to this unchallenged position include a central bank respected for its track record of strict but flexible regulation, a liberal economic environment, and a well-trained local workforce. These factors enhance investors trust and confidence in Bahrain.

From his side Mr. Hussein Mohammed Al Meeza Managing Director of Aman said 'Aman Bahrain will positively contribute to the development of Islamic insurance industry in the Kingdom of Bahrain. The company will provide Islamic insurance products and services that will be differentiated form others. Aman aims to continue its journey of success by entering an new market, Bahrain, after its successful onset in UAE, which was greatly contributed to its innovative products and services designed to satisfy customers requirements and expectations.

'We will strive to provide the best possible insurance services to the fast growing Bahrain economy. Aman wants to support this growth and will work hard to transfer our expertise and knowledge to this promising market' added Mr. Al Meeza.

The main founders and shareholders of Aman Bahrain are Dubai Islamic Insurance and Reinsurance Company (AMAN), Al Salam Bank - Bahrain, Al Salam Bank - Sudan and several other regional companies and businessmen.

State can't fix health insurance problems it created ANOTHER VIEW

Gov. Rendell's massive health care proposal would take us in the wrong direction. ''RendellCare'' would require dozens of initiatives, mandates and controls for every perceived problem. It would lead to higher costs by adding more layers of government bureaucracy and regulations and more government control over hospitals, doctors, and businesses — a system already tangled in a maze of government and insurance industry bureaucracies. The truth is that almost all of the problems in health care today are due to government interference in the marketplace.

The plan itself is overly ambitious and presumes that government can manage the most complex thing in our society. But, government mandates and price controls result in long waits, and lower quality. Free enterprise and charities can solve all our health care problems. We have the best health care in the world; we should work toward market-driven solutions to pay for it.

Rendell says that there are almost 800,000 uninsured people here. Thirty percent are eligible for Medicaid and have not signed up; 20 percent are young adults who choose not to be insured; 20 percent are non-citizens; 15 percent are between jobs, some of them eligible to continue their insurance under COBRA. The other 15 percent have had no insurance for two years. Most of these say they don't buy it because of high cost or uninsurability.

Rendell's proposal would force employers to provide coverage. The mandates would result in many companies dropping their insurance and paying a new 3 percent payroll tax, which I think would quickly increase due to government's inability to control costs.

Why not eliminate the idea that employers should be responsible for health insurance? They don't buy group auto insurance, or group homeowners' insurance. Why group health insurance? Employers should give their employees the money they now spend for health insurance and let the employees buy their own. The federal government can help by giving everyone a tax deduction for all health care costs and health insurance premiums.

Employees and all other individuals would purchase their own health insurance from a variety of companies. Each individual would shop for the right coverage and the best price, just as we all do for auto insurance and homeowner coverage. Health insurers would compete aggressively, just as do auto insurers today. (Geico, Progressive, State Farm, AllState, etc., etc.) Individual health insurance would offer a variety of coverage. Individuals could buy coverage from agents who could give advice, or directly from insurers, even on the Internet.

What coverage is available for those who do not have it through their employers? An individual can buy basic coverage for about $200 per month. It may have high deductibles and co-insurance, but it will cover major expenses and protect assets. If an individual or family decides not to buy insurance, then they have to pay out-of-pocket, or, be treated free by charitable hospitals.

Should the government force individuals to buy insurance? Many are healthy people with no assets to lose. They prefer to take their chances. They know that if they get sick or injured, they will receive treatment, and they will only pay what they can afford. The health-care providers pass along those unreimbursed costs through higher prices for others. Unfair perhaps, but efficient.

What about uninsurables who cannot get insurance today, but are willing to pay for it? All health insurers in Pennsylvania would participate in a private, non-profit consortium that would sell to any and all applicants, charging premiums necessary to cover claims. All insureds would pay the same premiums, which would be set high enough to cover claims and administration costs.

There's plenty we can do without allowing government to continue to make the problem worse. We have the best hospitals and physicians and pharmaceutical companies in the world. Our costs are too high because of government interference, and more government interference would only make the problem worse.

John F. Brinson of Weisenberg Township is chairman of the Lehigh Valley Tax Limitation Committee and a business owner. He is the producer of ''Pennsylvania Crossfire'' on cable TV.

''Our costs are too high because of government interference.''

Information on Car Insurance

Car Insurance is the Insurance purchased against cars to protect them against losses occurred due to traffic accidents. It is an agreement between a person and insurance provider. Person agrees to pay the premium and the insurance company agrees to pay your losses as defined in the policy.

The Insurance Premium can be either mandated by the government or determined by the insurance company in according to the rules set by government. The Premium can be varied depending on many factors like characteristics of car, profile of the driver and usage of the car.

Auto Insurance is a package of different coverages. Depending on the package opted, Auto Insurance covers insured party, insured vehicle and third parties or all. Some of the coverages includes Liability Insurance, Collision and Comprehensive Coverages,
medical payments, PIP, and no fault coverages and uninsured/under insured motorists coverages.

Liability Coverage:
Liability Coverage is the basis of any Auto Insurance policy. This policy will pay for your bodily injury and property damage expenses caused to others in accident.
Property-Damage Coverage pays for the repair and replacement of things that you damaged in an accident, other than your own vehicles.

Collision & Comprehensive coverage :
Collision Coverage will pay to repair your vehicle, if you cause an accident. Collision coverage is normally the most expensive component of Auto Insurance. Comprehensive Coverage will pay for the damages caused to your vehicle other than Auto accident, like damages from theft, fire, natural disaster.

Medical payments, PIP, and no fault coverages:
Medical payment coverage will pay the medical expenses after an accident for you and your passengers. This coverage will pay regardless of who is fault, that is, this policy pays the expenses that arise from accidents while you are driving your car, someone's car or injuries caused to you or your family while you are pedestrian.
PIP, personal injury protection and no-fault coverages are expanded forms of medical payments that include payments for lost wages and child care.

Uninsured/Under insured motorists coverages:
Uninsured motorists coverage pays for your injuries, if you are struck by hit-and-run driver or someone who doesn't have Auto Insurance. Underinsurance motorists coverage will pay out, if the driver who hits you causes more damage than his own liability coverage.

Other than these main coverages there are some other supplemental policies like Rental reimbursement, towing and labour and Gap coverage to cover vehicle rentals required when your car is damaged or stolen, charges in case of road break down. Gap coverage for your new car will pay the difference between the actual cash value you receive for the car and the the amount left on your car loan.

If you are interested in protecting yourself against from hefty repair bills, and lawsuit , it makes sense to buy more than what is required, however if your car worth lessthan what you are paying for the coverage then, better not to have it.

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Victims will get insurance break

DAYTONA BEACH -- Tornado victims in Central Florida will be allowed to delay paying their insurance premiums until April 15 under an emergency order issued by the state insurance commissioner.

The order issued by Commissioner Kevin McCarty also shields the victims against any cancellation of their policies for a three-month period after repairs to their houses are completed.

But, farther into the future, there's no telling what impact the tornadoes could have on Florida's troubled insurance market. Even before the storms rolled across four counties last week, Hartford Insurance informed state officials it will discontinue coverage for 38,000 homes around the state, starting next year.

Sam Miller, president of the Florida Insurance Council, an industry coalition in Tallahassee, said he doubts the tornadoes will spawn any rate increases because their losses will probably be relatively small -- perhaps $50 million or $75 million -- compared to the multibillion dollar loss typical of a hurricane.

"We have tornadoes regularly," he said. "It's totally different from a hurricane. I don't know that they would have any impact on the cost or availability of insurance. It remains to be seen but I wouldn't think they necessarily would."

However, Hartford spokesman Joseph LoParco cited the tornadoes as one more reason for Hartford to reduce its future risk in Florida.

"Take a look at just what happened last week in the center of the state," he said.

McCarty's order, issued Friday, was a follow-up to Gov. Charlie Crist's declaration of an emergency in Volusia, Lake, Seminole and Sumter counties.

His order specifies that any premiums due Feb. 1 or later can be delayed until April 15. McCarty said the grace period will give storm victims time to replace account statements, checkbooks, credit cards and other documents that may have been scattered by the whirlwinds. It also will give the U.S. Postal Service time to get mail deliveries back to normal in flattened neighborhoods.

However, the grace period does not apply to newly issued policies. Nor does it exempt customers from having to submit documentation to support their insurance claims, McCarty said.

The no-cancellation provision covers any homeowner's or renter's policy held by storm victims, as well as other types of personal-lines insurace, such as car insurance.

The emergency order comes on the heels of an emergency statewide rule issued by the state Financial Services Commission last week. That rule, requested by Crist, essentially freezes insurance rates and halts any cancellations while the state puts a new property insurance law into effect on June 1.

Under the law, the state Office of Insurance Regulation must calculate by mid-March how much property insurers will save by purchasing greater amounts of low-priced reinsurance from the Florida Hurricane Catastrophe Fund. After the state office finishes its calculations, insurers are supposed to adjust their rates to pass the savings on to customers. Legislative leaders have claimed the new system will trim average rates by up to 25 percent.

However, the two orders apparently won't stop Hartford Insurance from going ahead with a plan to reduce coverage gradually in Florida, starting in August 2008.

LoParco said the company will notify agents to stop renewing homeowners coverage this August. However, agents will be allowed to renew the policies for one more year if they choose. to do so.

LoParco said he didn't know how many homeowners would be affected in Volusia and Flagler counties. Overall, the cancellations will affect about 1 percent of the market.

The cutback affects customers who bought their policies directly from independent agents. It does not include 80,000 other customers who purchased Hartford policies through AARP, an advocacy group for seniors.

The company also will eliminate about 23 percent of its policies on business property.

LoParco said the cutbacks were aimed at strengthening Hartford's finances in the wake of the hurricanes of 2004 and 2005. He declined to say how much money the company made in Florida during hurricane-free 2006.

Health Insurance Affordability-Competition-Innovation and Streamlining For Better Rates

Any single government health insurance company as an answer to the medical care crisis is a near-sighted mistake that will cause costs to mushroom. What we need is competition, innovation and streamlining insurance companies into using inventive and far-reaching alternatives.

In order to stimulate competition, a voucher system, similar to the proposed school voucher system whereby a parent is given $9,000 to send his or her student to the school of their choice (excluding U.S. Islamic brainwashing schools, of course). A competitive appropriate amount could be given each family to spend on the insurance provider of their choice. But, it’s the bookkeeping costs many worry about.

Innovations for patient outsourcing could lower insurance costs. For instance, some Canadian hospitals do appendices operations of 80% less than U.S. hospitals and because they specialize in that procedure, their recovery rate is 92% greater than those of most U.S. hospital. At 80% savings, and better rate of recovery, that’s a deal! Also, Indian and many other foreign hospitals deliver the same or better treatment than those found in the U.S. and at amazing savings. It’s multiple times cheaper to put a patient on a plane and outsource them for treatment. That would appeal to many a policyholder in return for a lower health insurance premium expense

For others, a $10,000 or $20,000 deductible makes more sense if they could receive a cost benefit. After all, what they want protection against is the BIG one, the expensive 6 months in the hospital one. For many, the little stuff can be handled out of pocket. Many states don’t allow high deductibles. Too often states hamstring insurance companies with restrictions and practices. The federal government needs to enforce all states to allow free competition without restriction for health insurance entities in order to broaden the mix.

How about allowing insurance companies into every state that only recruits athletes, non-smokers, non-drug users, fit folks, monogamous folks who don’t sleep around and get STD’s and such. Their actuarial cost would prove lower and result in lower premiums.

The elimination of restrictive American Medical Association’s standards is mandatory. Too often highhanded restrictions eliminate competition. Perhaps constricting entry into the marketplace makes the doctor more “god-like” because perhaps of their rarity is someone’s idea of progress. I’ve seen kids who flunked out of school become excellent type A auto mechanics and I’ve seen “A” student medical doctor give the bad advice, commit unneeded operations for the extra buck and perform the dumbest acts.

Auto models change every year. Parts change, technologies change. The human body basic model stays the same. It seems the auto mechanic often has more to consider and manipulate than medical doctors do. Perhaps mistakes are more costly for the doctor if the patient dies. Barring heart surgery and rebuilding an entire engine, most medical specialty procedures become routine.

The 80:20 rule applies with doctors as well as auto mechanics. The top tier is the best and from the school of care and that approximate ratio is found in every profession and occupation. The bottom tier also exists in every occupation and profession. Making someone go through 8-years of school does not make them a better doctor. A man or women with commitment care and hands on training does.

Or put it another way. If one reads the electrical code, completely wires a house, installs the switches and electric panels, mast and all devices in 4 or 5 houses and gets approval by the electrical inspector, what more is there to learn about wiring a home? Yet it takes a 5-year apprentice program before states allow that person to become a licensed electrician. And they’re licensed and charge more. Becoming a master carpenter is harder to learn, will take longer on the job experience to master all the ins and outs and they get less pay … and, by the way, they’re not licensed.

The AMA limits doctor competition to universities by enrolling only “A” students and requiring long years of study. High. “C” students in the U.S. who want to become medical doctors have to go to India, Grenada and other foreign countries and then return through the back door and apply their trade. If auto mechanics followed suit, it would cost a fortune to repair cars.

By increasing enrollment in medical schools and streamlining certifications, more doctors would be available. More competition would reduce doctor costs to the individuals and deliver more care. Licensing has become ridiculous to the point that you need to hire a $250 a visit podiatrist to cut someone’s toenails and Medicare will pay for it!

Consumer advocates need to tie up special interest groups in Washington and elsewhere to streamline common sense and competitive health insurance measures into the market place.
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Car and Home Insurance Site

Lately, my friend just bought a new car for his wife so that they no longer need to car pool to work. As you see, from their new home, it is nearer to the wife’s office and hence the wife does not need to leave for work early but my friend needs to leave the house earlier to avoid the traffic jam on the way to his office.

Since they now own a new house and a car, they are shopping for the best insurances they can get. That is when I introduced them to use the Car Insurance website to find the right cover for their new car. There, he and his wife are able to find the list of car insurance companies that is able to provide them an online quote within minutes. That means, they both do not need to take day off from work to go shopping for the right insurance for their car.

There are also various of discounts available when purchasing their car insurance online but I adviced them to be prudent and apply for several car insurance quotes. In the website, they are able to compare the car insurance, which allows them to choose a few car insurance quotes they like better and then decide the best among those selected.

The advantage of the website is that they are able to offer home insurance to my friend and his wife. Hence, this would actually save time, efficient and more effective. The website has listed several home insurance providers that is able to provide the cheapest home insurance quotes that would be an interest to my friend and his wife. As this is their first time buying a home insurance, they are looking for the cheapest home insurance quotes and the excess amounts need to be paid if something happens to the house. With the website, they are able to do so with the wide selection of home insurance providers.

If you are interested to getting a car insurance and/or home insurance, do check the website out. Besides the car insurane and home insurance, they even provide other insurance services. Hence, the website offer great selection deals for you and your family when comes to insurance. You will feel secure once you know you are insured through Insure121.Com!

How Will Insurance Companies Respond to Victims of Friday's Tornado? asks Central Florida Attorney

ORLANDO, Fla., -- As the camera lights fade and the media attention dies down in the coming weeks, those familiar insurance slogans of "Like a Good Neighbor," "You're in Good Hands" and others, may unfortunately give way to an industry whose past is shaky to say the least, especially in recent years. Central Florida resident attorney Alan Garfinkel, of Garfinkel Trial Group (www.gtgfirm.com), is the nation's leading expert in natural disaster law and is currently representing thousands of hurricane victims across the country.

His experience in dealing with insurance companies for the past 18 years leads him to believe that many victims of Friday's tornadoes will fall prey to the usual tactics of an industry who practices the old familiar games of delay, deny or underpay.

While it may be too early to make this assumption, the fact still remains that thousands of victims from the 2004 and 2005 hurricane seasons are still fighting the very same insurance companies that are setting up camp in the affected areas today. This is an industry that made over $100 Billion Dollars in profits in the past two years and that is after paying claims for the damages sustained by hurricanes Katrina, Wilma, Frances, Ivan, Jeanne, Charley, Rita, and Gaston. These record profits were made by systematically underpaying claims in New Orleans, Mississippi and Florida.

"I do not want to make any predictions," says Garfinkel, "but I will be monitoring the response from the insurance companies. These folks have lost it all and in some cases they lost loved ones. Insurance policies are very difficult to understand and many policyholders will be at a great disadvantage when dealing with their insurance company. It is necessary to always get a second opinion on the dollar amount your insurance company claims you sustained."

Here are a few helpful tips for anyone who will be dealing with their insurance company in the coming days:

#1 - Prepare a detailed inventory of personal property damaged. Immediately take pictures of all your damaged or wet personal belongings including furniture, clothes, Electronics, etc. Also photograph any structural damage to the inside or outside of your home or business.

#2 - Be wary of talking to your adjuster; remember that they work for your insurance company and not for you. Try to document all your conversations with your adjuster and with your insurance company. This could come in handy in case you need to file a complaint, or later hire an attorney.

#3 - Be careful of what you sign. NEVER EVER sign any documents that state a final payment. You may be entitled to more money.

According to Mr. Garfinkel, there are too many tips to mention in this press release. It is vitally important that the victims of Friday's tornadoes understand what they may be facing in the coming weeks, months or in some cases, years.

Throughout his career, Mr. Garfinkel has appeared, or been interviewed as an expert guest, on almost every news network and in publications across the country. News organizations seek his legal advice after a natural disaster occurs. Attorney Garfinkel also serves as the National Moderator for Lexis-Nexis, one of the largest legal research organizations in the world.

Insurance group earmarks cash for crime fight

The South African Insurance Association (SAIA) on Monday gave Business Against Crime South Africa (Bacsa) R1.336-million for the fight against vehicle crime.

The contribution was the sixth of its kind by the SAIA.

"The SAIA is convinced that the good work done by Business Against Crime South Africa, through its vehicle crime project that has been operational since 1997, has contributed greatly to systematic reduction in vehicle crime since 1998," said its chief executive, Barry Scott.

Reported vehicle thefts and robberies have declined on year-on-year basis since a peak of 115 557 vehicles in 1998/99 to the lowest ever in 2004/05 of 85 964.


According to police crime statistics, the number of vehicles stolen in 2005/06 rose again to 96 291.

"The unfortunate recent spike in these types of crimes, however, makes our joint efforts with BACSA, the South African Police Service, the department of transport, the National Prosecuting Authority and others even more important," said Scott.

He said violent crime was costing the insurance industry about R2.5-billion per annum.

"Therefore we believe it's money well spent."

Bacsa chief executive Siphiwe Nzimande said the organisation was "delighted about the donation".

The national vehicle crime project "takes a pro-active approach by setting targets and defining specifically what needs to be done to achieve these targets".

One of the main objectives of this project was to reduce the illegal re-registration of stolen and hijacked motor vehicles, which made up an estimated 50-percent problem involving vehicle crimes.

Other objectives included:

# Securing the movement of vehicles through the country's border (30 percent of the problem);

# Disrupting the illegal trade in motor vehicles and parts (20 percent of the problem);

# Promoting and enabling sharing, analysis and interpretation of vehicle crime and related information;

# Securing the identity of motor vehicles; and

# Enhancing law enforcement, investigation and prosecution. - Sapa

What is the purpose of health insurance?

Tyler Cowen is in a provocative mood today, in a post on adverse selection and health insurance:

When I argue that adverse selection is not the key, I hear a common response: "*You* try getting insurance after you have been diagnosed with an advanced brain tumor," or something along those lines.
To be sure, this is a real point but it is not adverse selection. Adverse selection requires asymmetric information, namely that I know more about my brain tumor than does my potential insurance company. The more likely problem is that the tumor is common knowledge, or would be if I applied for insurance, and the company won't sell a policy for any price cheaper than the costs of treatment. There is no asymmetry of information, rather insurance simply is no longer possible. In the limiting case, imagine that a predictor-demon could forecast your lifetime medical expenditures with certainty, and then blog them by your social security number. Such a person, no matter how healthy, couldn't buy insurance either.
Scream all you want, but that is not inefficient per se. Covering these people, by the use of government policy, is a transfer, not an efficiency improvement.

Cowen's commenters do find inefficiencies in the amount of work that insurance companies do to sort insureds into ever-finer buckets. But my main issue with Cowen here is that as the world becomes more dynamic, the chances of someone having the same health insurance for years or decades becomes smaller and smaller. And finite health insurance is no health insurance at all – because the whole point of health insurance is that it insures you against unexpected large future medical expenses. But if you incur some such expenses and then lose your health insurance, then at that point you become de facto uninsurable, and you end up bearing all your large future medical expenses yourself anyway. In other words, what you thought was health insurance failed to insure you against your large future medical expenses.

Now the correct economic term for this might not be "adverse selection". But it's certainly a suboptimal way of providing health care.

Tips To Choosing The Right Auto Insurance Company

Are you in the market for better auto insurance rates? Or, perhaps you are simply looking for a new auto insurance company? Whatever your reason for shopping around, now is the perfect time to request auto insurance quotes from several companies who are more than eager to earn your patronage. In fact, many companies will compete for your business by way of auto insurance rates.

Your first step to choosing the right auto insurance company is to consider the type of coverage that you need. For instance, if you have a less than perfect driving record or past credit problems, you may want to compare auto insurance costs from companies who specialize in giving customers a second chance to earn discount auto insurance. If you own more than one vehicle, you may find that some auto insurance companies will offer cheap auto insurance rates in exchange for becoming your exclusive provider. In other words, transferring all of your policies to one company may result in discount auto insurance at its best.

The next step in choosing an auto insurance company is to look for one that rewards customers based on a good driving record. One of the keys to a respectable auto insurance company is flexibility when it comes to coverage selection and incentives to promote better and more responsible driving. In addition to comparing auto insurance rates and plans, take the time to review the auto insurance company’s policy on discount auto insurance rates for those with a safe driving record.

It’s important to realize that auto insurance rates vary from one area to the next. For instance, Pennsylvania auto insurance may be less expensive than New York auto insurance or vice versa. Regardless of where you live, however, most will agree that auto insurance is expensive and it’s essential that you compare auto insurance rates to ensure that you are getting what you pay for. A good auto insurance company, for instance, will offer various deductibles, competitive auto insurance rates and some type of coverage that allows for the temporary payment of medical bills in the event that you ever become involved in an auto accident. If you are injured as a result of another motorist’s negligence, many auto insurance companies will pay for your medical bills and later seek reimbursement from the faulty individual(s). This is a great relief to many, especially those who may not otherwise have health insurance.

As a final thought to choosing an auto insurance company that offers the best auto insurance rate, free auto insurance quotes and/or a flexible program that can be customized to fit your individual needs, simply take the time to shop around and compare auto insurance from more than one company prior to making a final decision.

The information in this article is designed to be used for reference purposes only. It should not be used as, in place of or in conjunction with professional financial or insurance advice relating to auto insurance quotes, discount auto insurance or auto insurance rates. For additional information or to receive an auto insurance quote, contact a local auto insurance company.

Mich. Auto Insurance Rates Fall in 2006

Auto insurance rates offered by the state's top ten insurance companies dropped an average of 2 percent last year, according to the Insurance Institute of Michigan.

"Michigan has hundreds of insurance companies writing auto and homeowners insurance," said Pete Kuhnmuench, executive director, Insurance Institute of Michigan. "The competitive market, along with safer cars and increased fraud-fighting efforts, resulted in lower costs for Michigan drivers."

Auto insurance rates are expected to continue downward during 2007, with the average expenditure expected to drop .5 percent nationwide this year.

"The overall rate decreases demonstrate that insurance companies are keeping costs as low as possible even though Michigan policyholders have the Cadillac of auto insurance policies," said Kuhnmuench.

According to Kuhnmuench, Michigan is the only state that requires insurance companies to provide unlimited, lifetime medical benefits to motorists injured in auto accidents.

Michigan and across the country, auto premiums have leveled off after years of increasing. While competitive marketplaces, safer cars and aggressive fraud-fighting efforts have contributed to this trend, rising costs for medical care, vehicle repairs and lawsuits remain a problem, the Institute release said.

For example, it now costs insurance companies an average of $26,744 for each personal injury protection claim, which includes medical expenses for those injured in auto accidents. This compares to $18,535 just five years ago. The average collision claim has increased from $2,498 to $2,730 during the same period, Kuhnmuench said.

Insurance fraud also contributes to higher insurance premiums and all policyholders pay for it. Property/casualty insurance fraud costs Americans at least $30 billion a year, or nearly $200 to $300 for each family.

Kuhnmuench urged consumers to take advantage of the competitive marketplace. "Michigan consumers have a wide array of options when buying an auto insurance policy and should shop around," said Kuhnmuench.

Insurance Institute of Michigan is a government affairs and public information association that represents more than 90 property/casualty insurance companies and related organizations operating in Michigan.

Solving the insurance crisis faced by Katrina victims

Mr. Speaker, on behalf of the people of South Mississippi, I want to thank my fellow Americans for the incredible generosity they have shown the people of south Mississippi in the wake of Hurricane Katrina. Literally within hours of that storm, fellow Americans who were National Guardsmen, who were Coast Guardsmen, in the Armed Forces, the Army, the Navy, the Air Force and Marines. They were there helping the people of south Mississippi recover.

Since that time, the people of America dug into their pockets as taxpayers. They dug into their pockets as individuals. They sent Christmas presents, and they donated their time. From school kids to senior citizens, they all came to south Mississippi to help.

It seems like for a while everyone was trying to help south Mississippi, and then the harsh reality was that not everyone really was going to help; that there was actually an element in corporate America that thought they could use this storm as a way to make a lot of money. I am referring to the property and casualty business that insured many of the people in south Mississippi.

Mr. Speaker, almost as soon as the roads were cleared of trees and power lines and dead animals and all the things, we found, unfortunately, in the wake of Katrina, representatives of property and casualty companies were showing up on people's lots, what was left of their homes, and telling them that they had found a reason in the fine print of their policies not to pay.

Even before I made my way back to Congress, and it took about two weeks after the storm for me to get here, they were already working the lobbies, buying steak dinners, buying lobster dinners, buying champagne and telling my colleagues, well, you are going to hear from those people in Mississippi; and, you know, yeah, we denied them, but they are not very smart. They didn't have enough insurance. They built their houses too close to the ground, and they flood all the time, and that is why we had to tell them no.

So, Mr. Speaker, we need to change that. But before I tell you why we need to change it, before I need to tell you what we need to do, I want to give you a couple of examples.

Remember they said they are not very smart? This was the home of John and Molly Hadden. John has a master's in business from Tulane University. They said their home was too close to the ground. As you can see, it was about 11 feet off the ground, or 22 feet above sea level. They said they were underinsured. If you had gone down Beach Boulevard in Bay St. Louis, Mississippi, a week before Katrina, this is what you would have seen. A beautiful home, less than 10 years old, and built to all the current standards. If you would have gone down that same road, when you could go down that road, a couple weeks after the storm, this is what you would have seen.

John Hadden, being an MBA, a pretty good businessman, knew that to replace this, should something bad happen, would cost a lot of money. He had a $650,000 insurance policy, to which the folks from State Farm, 16 months later, have given him nothing.

If you had gone a little farther down that street before the storm you would have seen approximately a 130-year-old house owned by Joe and Betty Benvenutti. Joe is himself in the insurance business. This house had been there and survived no telling how many hurricanes, five in my lifetime, and many more prior to that. Joe, being in the insurance industry, knew the importance of being properly covered. So for this beautiful classic historic home, Joe and Betty had $586,000 worth of insurance. Yet 16 months later, their carrier, State Farm Insurance Company, has paid them nothing, and this is what they found after the storm, by the way: a couple of their kids' trophies, a couple of bricks, maybe a toy or two laying around where the foundation used to be.

Next door to the Benvenuttis we have Mike and Eileen Chapoton. Mike is the head of the trust department of the Whitney Bank, a very, very large regional bank, a job of incredible responsibility. Again, a good businessman who thought he had done all the things you are supposed to do with all the people you are supposed to do it with to protect his home in case something bad should happen. Mike purchased $236,000 worth of insurance through State Farm, and 16 months after the storm, he has been paid nothing.

Mr. Speaker, what State Farm says is, well, you weren't there when it happened, so we don't know how it happened. So unless you can prove to me that it wasn't a flood, we are not going to give you a dime.

Now, this leads to a couple of things. Why should a person have to stay in their home during a hurricane to get some fairness. I thought we put satellites in the sky. I thought we put buoys at sea, I thought we had the hurricane hunters fly planes into hurricanes to give us the warning to get the heck out of there. To encourage people to stay behind is only to encourage people to die. And yet the only people in south Mississippi who really got fairness from the insurance companies were the ones who stayed behind and miraculously lived, because they were an eye witness.

So we need all-perils insurance throughout our country.

The second thing. The insurance industry that told the Chapotons and the Haddens and the Benvenuttis now have the privilege of calling each other up; State Farm could call Nationwide, and say, you know what, I am not going to pay; don't you pay. And it is perfectly legal because they are exempt from the antitrust laws. That needs to change.

Lastly, because there is zero Federal regulation of the insurance industry, at this time there is absolutely nothing that I or any other Member of Congress can do about this.

It is my hope that in the coming weeks we will fix all three of those problems.

Allianz expands industrial insurance operations in the US

FRANKFURT - Allianz SE is expanding its industrial insurance business in the US, Frankfurter Allgemeine Zeitung reported, citing management board member Clemens Booth.

Parallel to its initiatives in the life and property sector, Allianz (nyse: AZ - news - people ) is also aiming to win more large US companies as clients he said, according to the report.

In the future, 25 pct of Allianz's industrial insurance premium income is to come from the US, he added. Currently US operations contribute 18 pct premiums in this sector, the report said.

In the past, Allianz' US industrial operations were hit by large damage cases such as hurricane Katrina and the Sept 11, 2001 attack on the World Trade Center, it added.

Letter bomb injures British company employee

A letter bomb exploded Monday at a London company that controls the city's traffic congestion fee, fire officials said. One worker suffered minor injuries to her hand.

The padded envelope exploded in the mailroom of Capita Commercial Services, which on behalf of the government controls the $16 daily fee for central London drivers meant to cut down on traffic in the British capital.

British police cordon off Victoria Street in central London following a letter bomb explosion at the premises of Capita Commercial Services on Monday.British police cordon off Victoria Street in central London following a letter bomb explosion at the premises of Capita Commercial Services on Monday.
(Alastair Grant/Associated Press)

"We can confirm that there has been a small explosion at our Victoria Street office this morning," said a Capita spokeswoman, who declined to be named.

Scotland Yard said the injured woman was a Capita employee.

Capita also collects television licensing fees, handles mediation and insurance for the Criminal Records Bureau and does work for the Department of Trade and Industry and the Department of Work and Pensions.

The company, with headquarters near Scotland Yard, was formed in 1984 and has more than 26,000 staff in the U.K., the Channel Islands, Ireland and India.
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The Irish Republican Army pioneered the use of letter bombs in the early 1970s as part of its campaign to oust Northern Ireland from the United Kingdom. The tactic maimed dozens of people in the 1970s, most commonly secretaries or security guards who opened the packages, but killed nobody.

In response, the Royal Mail built barriers on letter boxes, which reduced the size of the slits so that only thin envelopes could be inserted. For larger packages, the Royal Mail has X-ray scanners to detect suspicious battery-powered objects.

No Medical Life Insurance

When applying for life insurance many life insurance companies require you to answer medical related questions and / or to undergo a medical examination as part of the application process. These medical examinations are often required as proof of your health status as given on your application form. They are used by the life insurance companies to help them decide upon the insurance premium you’ll be charged for your life cover, and in some instances, as to whether you will be given life insurance at all.

Life insurance products where intensive medical questioning and / or a medical examination is required effectively penalise you for pre-existing medical conditions, pushing up the cost of life cover. Taking a medical examination may also prove stressful, especially for the elderly who are looking for life insurance coverage later on in life.

Increasingly though, life insurance companies are offering life insurance products where no medical is required. What’s more some life companies even guarantee acceptance before you apply!

What is no medical life insurance? No medical life insurance, to use a well-known phrase, does exactly what it says on the tin! It is a life insurance product where no medical examination is required. You may not even have to answer medical questions and yet still be guaranteed acceptance for life insurance. No medical life insurance is open to people of all ages, so whether you’re 20 or 65, no medical life insurance can give you the peace of mind that your loved ones will be financially secure in the event of your death during the term of the life insurance policy.

You may be questioning the ethics of such a life insurance scheme at this point? If you are don’t worry! No medical life insurance is all above board, and is in fact offered by some of the most well-known insurance companies in the UK. Even supermarkets like Tesco for instance now have a no medical insurance policy available for the over 60s.

The premiums on life insurance where no medical is required are competitive too. Life cover can be acquired for as little as 7 per month, with some life companies guaranteeing that the insurance premiums on no medical policies will not rise through the life of the policy. Of course, how much you pay into the life insurance policy each month will affect the final life insurance total available upon death. Generally, there are no issues involved with increasing the life insurance premiums later on of your own accord should you wish to do so.

Insurance: Wind pool stability for whole state

HIGH RISK

# There can be philosophical debates on whether taxpayers should subsidize development in high-risk areas, but for now the Coast needs help with insurance.

All of the determination, good will and hard work in the world won't rebuild the Gulf Coast without one basic economic necessity - insurance.

Insurance in post-Katrina Mississippi is a new business and the state is having to react to changes brought on by high costs associated with the high risks shown by the devastating hurricane.

The Legislature is moving wisely with a bill to shore up the Mississippi Windstorm Underwriting Association, the so-called "wind pool," which is an insurance of last resort for some home and business owners in coastal areas of the state.

The wind pool covers property mostly in the beach area of the coastal counties, where commercial insurance companies will not write policies. All insurance companies that write in the state are required to pay an assessment to the wind pool, which means that companies had to ante up $545 million to offset losses not covered by the pool's reinsurance.

Rates for the wind pool have gone up 90 percent for homeowners and 268 percent for businesses, which many say they cannot afford. The Legislature wants to provide sales tax diversions to buy down the costs of providing reinsurance and to make other changes to make the pool more stable and workable.

Both the House and Senate have approved versions of a wind pool bill, which is an important step for recovery on the Coast. However, this is not a permanent solution. The system cannot be permanently subsidized. The insurance system needs to stand on its own, based on risk and costs, or there should be a federal program, such as the flood insurance program.

For now, however, it is in the entire state's interest to shore up the wind pool.

Required health insurance is here to stay

Students surprised by default university health plan; officials say plan will lower long-term costs

Requiring students have health insurance may be unpopular, but state and university policy makers said it actually lowers costs for students in the long run.

CU and higher education institutions statewide stand strong by their policies to require students to have some form of health insurance. Administrators said not only is it required by state law, but it contributes to the overall safety of students on campus.

Despite this, some students feel the university has unfairly added costs to already high education expenses.

"I think it is pretty shady of the school to try and sneak in the student health plan on your bill if you don't waive it," said junior architecture student Natalie De France Dreyer. "I mean, that's a lot of money to be surprised with, especially if you are a low-income student."

Because of the mandatory insurance requirement, CU automatically enrolls students in the Student Gold Health Plan.

The plan is $875 per semester and must be waived early in the semester if students don't want to be billed. The plan designates Wardenburg Health Center as the primary care provider and allows for services outside the center.

Rudy Landan, manager of the student health insurance office at Wardenburg, said while the coverage offered through CU has benefits, it isn't for everyone.

"Everyone has unique health insurance needs. Students may find that this plan doesn't suit their needs, and we certainly aren't forcing anyone to accept it. Students just need to shop around for the insurance with the least number of drawbacks," he said.

The university has required proof of health insurance from all enrolled students since 1986. According to the policy, a mandatory health insurance requirement minimizes the financial impact of health care on students by providing more options for coverage.

Colorado House Representative John Kefalas, D-Larimer, and Senator Bob Bacon, D-Larimer, have co-sponsored legislation to further expand the requirement of health insurance to include graduate students with legislation passed in 1994. This legislation made health insurance a requirement for all undergraduates in the state.

"The way health insurance works is that policy rates are determined by the pool of the potentially insured. The lower the pool number, the higher the rates," said Bacon. "By requiring students to have health insurance, we increase the pool, and thus lower the rates."

Kefalas said the bill mostly affects CSU because it is the only higher-education institution not requiring health insurance of graduate students. He said the CSU graduate student council welcomed the bill.

According to CU policy, mandatory health insurance promotes responsibility by forcing students to manually waive coverage, as well as moves toward a decreased reliance on fee-for-service programs.

"Required health insurance may put some students off, but it really is quiet advantageous because it gives students more economical bang for their buck," Bacon said.

WellPoint Insurance

WellPoint, Inc. NYSE: WLP is America's largest health insurer. WellPoint, Inc. was formed in late 2004 from the merger of Anthem and WellPoint Health Networks. The company owns the Blue Cross Blue Shield companies in 14 states. In 11 states, the company uses the Anthem Blue Cross and Blue Shield brand (Maine, New Hampshire, Connecticut, Virginia, Wisconsin, Indiana, Ohio, Kentucky, Missouri, Colorado, Nevada). Other WellPoint "Blues" are Blue Cross Blue Shield of Georgia, Empire Blue Cross Blue Shield (southern New York) and Blue Cross of California. WellPoint also operates non-Blue insurance companies Unicare and HealthLink; Lumenos, a consumer-driven healthcare company; and Medicare services company - National Government Services (Previously - AdminaStar Federal, United Government Services and Empire Medicare Services). The company is headquartered at Monument Circle in Indianapolis, IN, which was Anthem's pre-merger headquarters. WellPoint's pre-merger headquarters were in Thousand Oaks, CA. William Henry Trotter Bush, uncle of President George W. Bush, serves on the board of directors of WellPoint.

Mission statement: To improve the health of the people we serve and the health of our communities.

[edit] Management

* Chairman and CEO: Larry C. Glasscock
* CFO: David C. Colby

UnitedHealth Group Insurance

UnitedHealth Group Incorporated NYSE: UNH is a managed health care company. It is the parent of United Healthcare, one of the largest health insurers in the U.S.. It was created in 1977, as UnitedHealthCare Corporation (it renamed itself in 1998), but traces its origin to a firm it acquired in 1977, Charter Med Incorporated, which was founded in 1974. In 1979, it introduced the first network-based health plan for seniors. In 1984, it became a publicly traded company.

In 2005, William W. McGuire, M.D., its CEO, earned $124 million. His compensation in the five years 2001-2005 was $341 million. He was the CEO from 1989 -- when annual revenues were just over $400 million -- to 1 December 2006, when he was replaced as CEO by Stephen Hemsley due to allegations of options backdating done to favor UHC executives such as McGuire (see Options Backdating section below).

In 1995, the company acquired The MetraHealth Companies Inc. for $1.65 billion. MetraHealth was a privately held company formed by combining the group health care operations of The Travelers Insurance Company and Metropolitan Life Insurance Company.

In December 2005, the company received final regulatory approval for its $9.2 billion purchase of PacifiCare Health Systems. It agreed to divest parts of PacifiCare's commercial health insurance business in Tucson, Arizona and Boulder, Colorado to satisfy antitrust regulator concerns, and also agreed to end its network access agreement with Blue Shield of California.


Options backdating investigations and lawsuits


In 2006, the Securities and Exchange Commission began investigating the conduct of United Health's management and directors, as did the Internal Revenue Service and prosecutors in the U.S. attorney's office for the Southern District of New York, who have subpoenaed documents from the company. The investigations came to light after a series of probing stories in the Wall Street Journal in May 2006, discussing apparent backdating of hundreds of millions of dollars' worth of stock options by United Health management. The backdating apparently occurred with the knowledge and approval of the directors, according to the Journal. Major shareholders have filed lawsuits accusing former New Jersey governor Thomas Kean and UHC's other directors of failing in their fiduciary duty.[1][2] On October 15, 2006 Dr. McGuire was forced to resign, and relinquish hundreds of millions of dollars in stock options.

[edit] Trivia

UNH is one of Mad Money host Jim Cramer's favorite stocks (and one he owns for his charitable trust). He frequently refers to himself as "Doctor UNH".

Even though they are based in Minnesota, they are not allowed to sell insurance within Minnesota. This is because state law limits that to non-profit organizations (e.g., Blue Cross, Blue Shield

Disability Life Insurance - Some Tips On How To Buy

Although disability life insurance covers ourselves and our loved ones during good and bad times, it can be a very dry subject. We have therefore compiled a quick list to make understanding disability life insurance easier.

Disability Life Insurance Tip #1

Buy Only What You Need: Make sure you have enough coverage if you ever have to make a claim. And be sure to keep policies up to date with any salary increases you get.

Disability Life Insurance Tip #2

Increase your waiting period: The waiting period is the time you have to wait to make a claim. The longer you wait, the lower the cost of your premium.

Disability Life Insurance Tip #3

Work With The Same Company: If you need to change the company you are with, do so before your policy expires but beware of the cost. Your disability life insurance policy is a contract between the carrier and you for a specified period of time. Changes in the policy may come with penalties.

Disability Life Insurance Tip #4

Shop For Policies: With all the disability life insurance companies online, it is reasonably simple to compare premiums.

Disability Life Insurance Tip #5

Compare Apples With Apples: When comparing disability life insurance policies, be careful as they have different definitions of disability for each illness. Make sure you specify the same amount of coverage for both so you can make a level comparison.

Disability Life Insurance Tip # 6

Different disability life insurance companies have different classifications for the same occupation. For example company A might rate someone who works with electricity as a higher risk than company B. So this is something you need to know.

Disability Life Insurance Tip #7

It is better to go to the well known disability life companies as they have a deeper knowledge of risk and should therefore be able to give you the best rate.

Buying Disability Life Insurance Makes Sense

Financial planning is necessary to make sure you have enough life insurance and disability life insurance to protect your income. It may not be a topic that everyone finds interesting, but if an emergency arises, you will be glad you took the time to get some good disability life insurance.

Discovering life insurance policy Online Is Very Simple

Whether you re simply considering purchasing a life insurance policy, or have already made the decision to purchase a life insurance policy, it s important to know the difference between a term life insurance policy and a whole life insurance policy. If you re only looking for life insurance coverage for a specific amount of time, a term life insurance is probably your best bet. When buying life insurance, we concern ourselves with whether to buy whole or term life, or if the amount purchased is adequate, or will current health problems force us to pay higher premiums.

Individual vs. Family Health Insurance Plans

With the ever-growing cost of healthcare in the USA, finding the right health insurance plan that fits into your budget isn't always easy. Knowing what you need to accomplish with a health insurance plan and just who and what needs to be covered by it will help you to decide what type works best for you and your family.

Individual Health Insurance Plans

Okay, let's start with the individual health insurance plan and go from there. First, an individual health insurance plan is pretty much just what it says; it's a health plan for one person. For those who only have themselves to worry about, this is going to be your best option in the cost department. Individual plans can still vary a great deal in affordability, depending on what type of coverage you opt for.

A more traditional health insurance plan (called an indemnity plan) covers visits to whatever doctor you want to see and will cover whatever those procedures are that the said doctor prescribes for you. The cost can vary as to how much of a deductible you have and your out-of-pocket limit. Overall though, this is the more expensive type of individual health insurance plans out there but offers you the most freedom of choice.

Individual managed plans, like HMO's, are more cost effective but you do give up some of the freedoms that you have in the indemnity plan. You will need to see doctors on your approved list and any specialists that you need to see will need to be by referral. If your health care is primarily yearly check-ups and the occasional antibiotics, this is a plan that could work for you. It will cover health emergencies, there are just more hoops you have to jump through.

Both of these health insurance plans can include prescription and dental coverage at an additional cost.

Family Health Insurance Plans

Like the name suggests, family health insurance plans are for families and since these health plans are covering more than one person, the cost is going to be higher. As a matter of fact, the bigger the family, the bigger the price tag. Also, the ages, gender, and health choices, like smoking, from each family member will play a big part in just how much a policy like this will cost you. There are indemnity plans that are for families and they offer the same freedoms as the individual plans. This can be a real bonus when dealing with multiple people.

Family health insurance plans also come in the managed health care package and work pretty much the same way as the individual ones. The cost will be higher than the individual plan, but not as high as the family indemnity plan.

Group Insurance Plans

Many companies now offer their employees group insurance coverage, footing the bill for some or most of the premium. Since many of these companies now offer both types of health insurance coverage, how much you end up paying out-of-pocket will depend on which type of policy you choose.

Medical Mutual of Ohio(R) Offering Members Financial Incentives to Lose Weight

Beginning today, Medical Mutual is
offering an incentive plan where members can be reimbursed up to $150 to
enroll and complete an offering from Weight Watchers(R).

Medical Mutual is providing a $50 reimbursement to members who complete
a 13-week plan, or a $75 reimbursement to members who complete an 18-week
plan. The maximum reimbursement per member per 12-month period is $150
regardless of the combination of sessions selected. The reimbursement offer
applies only to sessions offered at local Weight Watchers meetings in the
community.

"Improving the health of our members is our top priority," said Paula
Sauer, Medical Mutual's vice president of Care Management. "We're hoping
that they are going to take advantage of this opportunity to improve their
quality of life."

More than 64 percent of U.S. adults are either overweight or obese,
according to the National Health and Nutrition Examination Survey.
Statistics also reveal that obesity costs American businesses billions of
dollars in healthcare costs and lost productivity.

The plan is good news to Medical Mutual business customers such as The
Sherwin-Williams Company.

"The health of our employees is very important to us and with obesity a
growing problem nationwide, we're glad to be able to have something that
can help," said Dave Gauntner, Sherwin-Williams vice president, benefits
and compensation.

Weight Watchers incorporates healthful eating, physical activity,
behavior modification, a maintenance phase and group support. It is based
on the philosophy that successful weight loss is achieved through the
attainment of a series of realistic goals.

In order to be eligible, participants must be 18 or older and be an
active Medical Mutual customer when the request for reimbursement is
received upon completion of the plan. Members must join Weight Watchers by
calling 866-204- 2878 and provide their member information. Members will
receive a welcome letter, an official reimbursement form, and vouchers for
local meetings in their community addition to information on finding a
convenient Weight Watchers location.

Founded in 1934, Medical Mutual of Ohio is the oldest and largest
health insurance company based in Ohio. The company serves its customers
through high-quality, affordable group and personal health insurance plans,
and third- party administrative services to self-insured group customers.
Based in Cleveland, Medical Mutual also has offices in Columbus,
Cincinnati, Toledo, Akron, Dayton and Youngstown. For more information,
visit the company's award-winning Web site at http://www.MedMutual.com.

Homeowner's insurance costlier

Just getting a policy in N.J. can be a problem; Hurricane Katrina to blame

Richard Considine, who lives on Oceanport Creek in Oceanport, has seen his homeowner's insurance premium jump 75 percent since 2004.

Harry Conover, who lives about a mile from the ocean in Neptune City, learned recently that his homeowner's insurance policy will not be renewed.

Bob and Debbie Mura, who live near Silver Bay in Toms River, had a hard time finding insurance after their home insurer went bankrupt. Their new premium is $1,895 a year, not including taxes and fees, an increase of 87 percent.

Concern about homeowner's insurance in New Jersey is on the rise in the aftermath of powerful Hurricane Katrina, which caused widespread damage in Gulf Coast communities in 2005.

Beginning Feb. 5, Allstate New Jersey Insurance Co. will stop writing insurance for those seeking homeowner, condominium, mobile home and landlord insurance statewide, according to an e-mail from Sheila Breeding, a company spokesperson. The decision does not affect the 240,000 existing policyholders.

After State Farm, Allstate New Jersey is the second-largest of the 89 insurance companies offering homeowner's insurance in the state, according to Jim Gardner, a spokesman for the state Department of Banking and Insurance.

Industry officials and government regulators say homeowner's insurance is still available in the Shore area and elsewhere and deny that costs are spiking.

Last year, rates increased 8 to 12 percent in New Jersey -- or up to about 15 percent, on average, in coastal areas -- Gardner said.

While homeowner's insurance has gone up sharply in many of the Gulf Coast states, New Jersey has "fared much better . . . in terms of price and availability of homeowners' insurance coverage," he said.

But some area residents maintain their premiums have indeed increased sharply, their insurers have dropped them or they've had difficulty getting insurance.

"I bet there's a lot of people out there in my shoes," said Conover, Monmouth County emergency management coordinator, who is searching for a company willing to insure his home.

"We're probably going to be able to find homeowner's insurance through someone, but the rates are going to be astronomical," he said Friday.

Richard Ray, a 72-year-old retiree who lives six blocks from the ocean in Belmar, said he got a letter from AIG last week saying that his homeowner's insurance policy will not be renewed next month.

"It was a shock to me," Ray said.

Warren A. Ward, a 76-year-old retiree who lives near the water in Brick, said the premium on his policy from New Jersey Manufacturers Insurance Co. will rise 25 percent as of April 1 and 15 percent next year.

"That's a big jump for anybody," Ward said.

The New Jersey Association of Realtors is concerned that the recent trend of insurers dropping coverage "could have a detrimental impact on the availability and affordability of homeowner's policies, which could negatively affect the housing market," according to a Jan. 18 association statement.

Homeowner's insurance is required to get a mortgage, noted Jarrod Grasso, association vice president for government affairs.

David L. Wyrsch Sr., president of the Van Dyk Group, a real estate, insurance and financial services agency with offices in Ocean County, said "it's pretty much solidified" that most standard companies don't want to write homeowners' insurance policies on barrier islands.

But people can get insurance policies from nonstandard carriers, such as Lloyd's of London, Wyrsch said.

Such policies cost "I would say . . . certainly at least 50 percent more" than what people had been paying for standard insurance, he said.

Magdalena Padilla, president of the Insurance Council of New Jersey, which represents 28 insurance companies, said that to the council's knowledge, "the homeowners' market . . . has not been affected by Allstate's announcement. Policyholders are able to buy policies in the homeowners' market."

However, she thinks Hurricane Katrina has "just made folks more aware . . . of what it means to develop in precarious locations," Padilla said.

"It's putting expensive houses on beach property," she said. "The erosion issues are really obvious," she said. "Weather issues are really obvious in the beach areas."

State Farm spokeswoman Teanice Wells-Ernest said the company has not stopped writing homeowners' insurance policies in New Jersey and will continue renewing policies.

"We are concerned about coastal exposure" and the company has made some adjustments to its underwriting guidelines, she said, declining to give details.

State Farm does not have any plans to raise rates in New Jersey and reduced rates by 7.5 percent overall last year, she said.

Snack tax an option to cover insurance

AUGUSTA - It may mean raising taxes on snacks, sodas, beer and wine, but Gov. John Baldacci said Monday he remains committed to expanding his controversial DirigoChoice health insurance program.

Higher taxes, regulatory reform and mandated insurance coverage were among options recommended to the governor Monday by the 20-member Blue Ribbon Commission on Dirigo Health, a special group that has been meeting since last spring.

In the report they presented Monday, commission members expressed unanimous support for the multifaceted Dirigo Health initiatives and said the subsidized DirigoChoice insurance product is a key component in improving access to health care in Maine.

In accepting the report, Baldacci said though the two-year-old DirigoChoice program remains "a work in progress," it now provides coverage to more than 13,000 Mainers and 2,300 small businesses. Baldacci said his goal is to improve the plan and make it more affordable so enrollments will increase.

"I’m not going to argue about who to leave behind," he said. "My interest is in expanding coverage to all Mainers, and I’m eager to develop and debate my plan to do this."

Appointed last May and charged with exploring ways to fund DirigoChoice, the blue ribbon commission proposes scrapping most components of the controversial "savings offset payment" or SOP — an assessment on insurers designed to measure and capture savings achieved within the health care system because of various Dirigo initiatives.

Fierce political opposition and legal challenges to the SOP from insurers, hospitals and the Maine State Chamber of Commerce threatened Dirigo’s viability and were driving factors in establishing the commission, which included representatives from these groups. The report recommends that only the amount of money saved by hospitals because more people are insured should be used to generate funds for the program.

The commission report says the state should look to the General Fund to partially replace the SOP and recommends bulking up the fund with new taxes on tobacco, snacks, soft drinks, beer and wine.

Baldacci noted that his proposed biennial budget already calls for a $1 a pack increase in the tax on cigarettes and said no additional tobacco tax will be considered to help fund Dirigo.

The report makes other recommendations for improving the DirigoChoice program. These include enrolling more low-income Mainers — especially sole proprietors and small-business owners — and adapting the program to meet the needs of part-time and seasonal workers, who are now ineligible for coverage even if their employer participates in the plan.

Commission members also propose allowing the plan to self-insure — perhaps as an alternative to the current administrative contract with Anthem Blue Cross and Blue Shield, or perhaps by allowing the Dirigo Health Agency to carry some financial risk for the most costly enrollees. Other suggestions include improving the care of people with chronic illnesses and attracting more federal funding to DirigoChoice by enrolling more Medicaid-eligible Mainers.

Also charged with suggesting ways to reduce overall health care costs and spending in Maine, the group recommends increasing public access to insurance company data, merging the individual and small-group markets, allowing parents to insure dependents to age 30, and requiring insurers to give premium discounts for participation in workplace wellness programs and other measures.

The commission report also recommends that Maine consider requiring all residents to have some sort of health care coverage — and all employers to offer it.

Baldacci said his staff will analyze the recommendations and submit legislation within a month.

After the meeting, commission member Joe Ditre, executive director of Consumers for Affordable Health Care, said he will continue to support measures that provide affordable, comprehensive health coverage to as many people as possible. He opposes market-based solutions from the insurance industry, such as high-deductible plans, separate programs for people considered high risk, and regulations that allow companies to exclude some consumers from coverage altogether.

"These are ways we leave people out," Ditre said.

Commission member Katherine Pelletreau of the Maine Association of Health Plans, an insurance industry group, said she was pleased with the way the group had worked together to arrive at the recommendations.

"Obviously, there is still a lot of work to do, and I look forward to working with the Legislature on this important issue," she said.

Trish Riley, director of Baldacci’s Office of Health Policy and Finance, said although it is clear that Dirigo initiatives have resulted in overall savings in the health care system, the SOP was "too contentious" to survive as a funding source for DirigoChoice.

"We can’t get back around the table [to improve DirigoChoice] when we’re busy suing each other," Riley said Monday.

The report of the Blue Ribbon Commission on Dirigo Health may be read online at www.dirigohealth.maine.gov.

200,000 may need to get more insurance

State healthcare law sets higher minimums

More than 200,000 people with health insurance would have to buy additional coverage to meet proposed minimum standards under the state's new health insurance law, according to a count completed by insurers yesterday.

Most of the individuals do not have coverage for prescription drugs or have drug coverage that is more restrictive than the minimum proposed by the state board implementing the law. The Commonwealth Health Insurance Connector board is scheduled to vote on the standards in March. Individuals would face a fine of about $200 next year and more in future years, if they do not have insurance that meets the standards.

"It's very troubling," said Richard Lord, president of Associated Industries of Massachusetts and a member of the Connector board. "The new law was about expanding access for people without any health insurance. I don't think we should be forcing people who do have some coverage to spend more."

The number of residents whose insurance would not meet the minimum standards is more than four times the estimate made by the board's staff earlier this month before the board altered the proposed standards. And the new number includes only those covered by the five largest Massachusetts insurers. It does not include tens of thousands more who have policies that set dollar limits on coverage, policies that the board also said were inadequate.

The minimum standards are still very much in flux. The board postponed a final decision last week because of concern about the cost of the basic plans. Many of the initial bids from insurers who hope to offer the plans carried premiums that the board considered unaffordable. Based on bids from insurers, the board estimated that a rough average premium would total $380 a month, far above the $200 cited by Governor Mitt Romney, before the health law was passed. The board added more requirements and then asked insurers to submit new bids with lower price tags.

Under the law, adults must obtain coverage that meets the minimum standards by July 1 or pay a penalty, unless they get a waiver by proving they can't afford insurance. The first-year penalty, a loss of the personal tax exemption, wouldn't kick in until after people file their 2007 taxes.

The proposed standards would require insurance plans to provide "reasonably comprehensive coverage," including primary care, emergency services, hospitalization benefits, mental health services, and prescription drugs. The proposed standards would limit annual out-of-pocket expenses to $5,000 for an individual and $10,000 for a family and hold deductibles to no higher than $2,000 per individual and $4,000 per family. The board also proposed that the plans cover generic drugs and three medical visits per individual before the deductible kicks in. Insurers would not be allowed to set limits on coverage per sickness, year, or lifetime, nor could they set a dollar maximum for any medical service.

Jon Kingsdale, executive director of the Connector, said the new estimate of underinsured individuals would be useful when the board revisits the issue of minimum standards.

Another board member, Jonathan Gruber, said: "It's a hard issue. There's a trade-off between making sure we have real coverage and minimizing disruption to the market."

Gruber, an MIT economics professor, said he was pleased with the board's proposal on drug coverage. But "we're very far away from finalizing this," he added. "My mind is still open."

The figures were compiled by the Massachusetts Association of Health Plans, based on a survey of five Massachusetts insurers, who control about 90 percent of the insurance market, according to the association: Blue Cross Blue Shield, Harvard Pilgrim Health Care, Fallon Community Health Plan, Health New England, and Tufts Health Plan. The survey focused on drug coverage and on plans with health savings accounts.

Federal tax rules governing health savings accounts set limits on out-of-pocket expenses and deductibles that are different from those suggested by the Connector, the association said.

The numbers do not include individuals insured by national companies such as United HealthCare Insurance Co., Aetna, and CIGNA or by other companies that offer policies with limits per sickness or per hospital visit.

"We think this is taking healthcare reform backwards," said Dr. Marylou Buyse, president of the association. "These are products that people have had for years. People who buy them think they're good plans."

She likened the board's proposed minimum requirements to "forcing everybody to buy a Cadillac. There are a lot of people who don't pay for high-benefit plans. They don't want them, and they don't want to pay for them."

Lord said he was also worried that the proposed standards might lead businesses to drop insurance coverage, rather than offer their employees more extensive and expensive plans.