| Insurance commissioner tours Columbus' damage, urges homeowners to ...
Georgia Insurance Commissioner John Oxendine examined tornado damage in Columbus Tuesday morning and brought two messages. The first was for people whose homes and businesses were affected by the March 1 storm. "If you have a problem with insurance, if you have any questions about what should be covered," he said, "don't hesitate to call us." The second was for people who escaped untouched by the heavy winds and rain. "This is just the beginning of tornado season in Georgia," he cautioned. "People need to check their insurance and make sure they are properly covered." For the latter group, Oxendine suggested taking a digital camera and photographing each room "so you can remember what you had." Standing near the rubble of a flattened home on Brookstone Boulevard, he said it's unlikely that the residents will be remembering just what they had, making it difficult to replace the lost items.
Most small companies fret over insurance
Small-business owners are increasingly concerned about rising health-care costs and are looking to government more and more to find legislative relief. That's according to a new poll of small-business owners nationwide who say they simply can't afford to offer health insurance because revenues are too uncertain and many of their employees can't afford their share of the costs. The poll, which was conducted by the National Federation of Independent Business, is based on a random survey of its members, 10,000 business owners. A vast majority, 95 percent, said the most important issue facing their business is rising health-care costs, said William Dennis, chief economist for the trade group, which has an office in Columbus and headquarters in Washington, D.C.
Medical malpractice insurer is bought out
Napa, Calif.-based Doctors Co., the nation's leading physician-owned medical malpractice insurance provider, announced Friday that it will acquire the malpractice insurance business of TriState Medical Insurance Co., a risk-retention group writing medical malpractice insurance in Southwest Ohio and Northern Kentucky. Terms of the deal, which will close Sunday, were not disclosed. Doctors Co. bought a Columbus-based malpractice insurer in January, making it the second largest such insurer in Ohio. DEERFIELD MFG. HAS AUTO-PARTS CONTRACT MASON - Deerfield Manufacturing, 320 Mason-Montgomery Road, has begun producing metal brackets for a Honda supplier for the automaker's Element and Acura MDX sport utility vehicles. Deerfield's parent, ICE Industries in Sylvania, Ohio, was picked by M-TEK Inc., a Manchester, Tenn., automotive supplier, to provide 13 different parts for various Honda and Nissan vehicles, taking over for a metal-stamping supplier that closed because of bankruptcy.
Nationwide Announces New Board Members
COLUMBUS, Ohio--(BUSINESS WIRE)--Nationwide today announced the election of M. Diane Koken and Jeffrey W. Zellers to the Board of Directors for Nationwide Mutual Insurance Company and Nationwide Mutual Fire Insurance Company. Koken was elected to a three-year term and Zellers to a one-year term. "Diane and Jeffrey add valuable economic and financial experience to the Nationwide board," said Chairman Arden L. Shisler. "Their individual areas of expertise will add depth to an already outstanding board of directors and will help Nationwide address the increasingly complex issues of corporate governance and business development." Koken is the former Commissioner of Insurance for Pennsylvania. Originally appointed by Governor Tom Ridge in 1997, Koken was reappointed in 2003 by Governor Ed Rendell and was Pennsylvania's second longest serving Insurance Commissioner.
Roughnecks sign Tyler Francey
Calgary, AB - When Tyler Francey was signed by the Roughnecks prior to the National Lacrosse League's March trade deadline, it was mainly for insurance in case he was needed to perform in a late season back-to-back weekend. The premium was well worth the cost, because Francey will don a Calgary jersey for the first time when the Riggers travel to Phoenix this Friday. Recent losses to Portland and Edmonton have put the club's playoff hopes in jeopardy and the newcomer will be asked to solidify what all too frequently has been a porous back end. "Tyler is a player (Head Coach) Jeff Dowling knows very well," Kurt Silcott, the Roughnecks General Manager, said today, "because they were in New York together earlier in the year. "He is a solid stay-at-home defender with a good deal of experience in the NLL and we have no hesitation in introducing him into our line-up." Silcott added, "We will Tyler ready for the Arizona Sting on Friday, and this will allow us to rest veteran Andy Ogilvie for Saturday in Edmonton, our last game of the regular season." To find room on the roster for Francey, Brenan Day has been released.
Subprime troubles hit home
Subprime-mortgage lenders nationwide are in the midst of a meltdown, and the effects are starting to ripple through Ohio. Mortgage lenders are closing offices and getting pickier about who can qualify for a loan, while regional banks are facing deflating bottom lines and selling their subprime-mortgage divisions. It's clear that the subprime-loan market, which often involves lending money to those with questionable credit and has been blamed for Ohio's skyrocketing foreclosure rate, is shrinking. "The mortgage industry is experiencing a significant contraction," said Brendan McDonagh, CEO of HSBC Finance Corp, in testimony to the Senate Banking Committee. "The subprime market has lost 20 percent of its origination capacity" just from lenders going out of business, he said.
Pet health insurance has proved worthwhile
Overall, pet health insurance has proved worthwhile. Health insurance for pets helps maintain the human-animal bond and keeps pet owners from having to dip into savings accounts to provide care for their pets. Q. I have two cats that spend a lot of time outdoors, especially when it is warm. Should I be worried about parasites such as worms and fleas? A. Outdoor cats are exposed to a number of different parasites such as intestinal worms, fleas, ticks, mites, lice and even heartworms. Intestinal worms such as hooks and rounds are contacted by walking on contaminated soil and ingesting the microscopic larvae by licking their paws. Fleas are pretty much everywhere and can be picked up indoors and out. Cats make it pretty difficult for ticks to embed by their constant grooming.
Vermont taxes: The highest, or just real high
WASHINGTON — Vermonters have been ranked the smartest and healthiest in the nation, and are told they live in one of the safest and most livable states, too. Now, Vermonters have another top accolade, the most taxed. Vermonters shoulder the highest state and local tax burden, as a percentage of their income, than residents of any other state in the nation, according to a new report. Vermont, which ranked second last year, edged out Maine by a mere one-tenth of a percentage point to take top honors this year, according to a report issued Wednesday by the Tax Foundation. According to the report, 14.1 percent of Vermonter’s income will go to pay all state and local taxes. Maine was second with 14 percent, New York was third with 13.8 percent. Since October, Vermont has received top honors from the Kansas-based Morgan Quitno Press, which ranks cities and states in a variety of ways.
Insurance Marketing Company to Locate Regional Office in Carmel
National insurance marketing organization, BHC Marketing, says it will establish a new Midwest regional office in Carmel and will bring 20 jobs to the community. The Texas-based company markets annuities and long-term care insurance to licensed insurance agents. BHC plans to open its new office in mid-April.
Source: Inside INdiana Business
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