| Japan's regulator punishes non-life insurers
TOKYO, March 14 (Reuters) - Japan's financial regulator on Wednesday punished 10 non-life insurance firms and slapped several with orders to temporarily halt some operations, after they failed to pay medical insurance claims worth nearly $9.5 million. Two units of U.S. insurance firm American International Group Inc. (AIG.N: Quote, Profile, Research) were among those reprimanded. Japanese insurers Tokio Marine & Nichido Fire Insurance Co. Ltd., a unit of Millea Holdings Inc. (8766.T: Quote, Profile, Research), and Nipponkoa Insurance Co. Ltd. (8754.T: Quote, Profile, Research) are prohibited from signing up new customers for certain products during the three months to July 1, the Financial Services Agency said in a statement. They are also prevented from applying for the approval of some new products during the three months to June 14, the FSA said.
Insurance set to pass through detariffing
MUMBAI: Dalip Verma, MD, Tata AIG General Insurance is one of the longest serving chief executives (CEOs) of non-life insurance companies. Verma was earlier with AIG — the joint venture's foreign partner. After seven years with the Indian company, he is now slated to take on wider responsibilities. In an interview with ET, Mr Verma speaks of how the industry will now undergo a structural shift because of detariffing. What has been the impact of detariffing? The price reduction is an absolute reality. Premium on motor `own damage' cover is down 20%, while there are instances of rates coming down by as much as 60% in fire and engineering businesses. We had expected that growth would come down 18-20%, but were very pleasantly surprised to see the 22% growth. Some of this could be because many corporates had timed their purchase to take place after detariffing.
Sainsbury’s announces 50% discount on life insurance premiums
Sainsbury's Bank has announced that it is offering a 50% discount on life insurance premiums for the first three months, provided the policy is purchased before 23rd April 2007. This discount is available on the telephone and online.
Life insurance premiums through Sainsbury's Bankare amongst the most competitive available and start from as little as £5 a month.
Claire Moyles, Life Insurance Manager, Sainsbury's Bank said: “Life insurance can help provide great peace of mind in the knowledge that your dependants could receive a cash lump sum if you were to die. Quality cover does not have to be expensive and right now you can save an extra 50% for the first three months if you apply for a policy with us."
You can get a quote or further information by visiting sainsburysbank.co.uk.
MetLife may get new Beijing partner -sources
BEIJING/SHANGHAI, March 22 (Reuters) - The Shanghai partner of MetLife Inc. (MET.N: Quote, Profile, Research) has entered exclusive negotiations to team up with the top U.S. life insurer to restructure its joint venture in Beijing, sources close to the deal said on Thursday. If it goes ahead, MetLife would be able to consolidate its operations in China, a market with huge potential as only fewer than 4 percent of its 1.3 billion population have life insurance coverage. MetLife's premiums in China more than tripled last year to 392.9 million yuan ($51 million). At present, the company has two 50/50 joint ventures in China: United MetLife Insurance Co. in Shanghai and Sino-US MetLife Insurance Co. in Beijing. Its partner in Shanghai is Shanghai Alliance Investment Ltd., which is run by the son of former Chinese President Jiang Zemin and is an investment arm of the city government.
As premiums go down, pick up life insurance
The next time your party guests linger past your bedtime, ask them how they feel about life insurance. Watch that they don't trip over your cat as they sprint to the door. Nobody wants to talk about life insurance. But if you have young children or others who depend on you, you should have it. Millions of Americans have no life insurance, and millions more don't have enough to provide financial security for their loved ones. That's a shame, because if you're reasonably healthy, you can buy a lot of life insurance without spending a lot of money. Average premiums for individual life insurance have been falling about 5 percent a year since 2000, and they're expected to drop an additional 4 percent in 2007, according to the Insurance Information Institute. "The rates are as low as I've ever seen," says Byron Udell, CEO of AccuQuote, an online insurance broker.
An Independent Approach To Car Insurance
(NAPSI)-Many consumers are finding they can drive down the cost of car insurance-and the time it takes to select the right policy-by contacting an independent insurance agent or broker. Because they represent many different insurance companies, independent agents have the flexibility to review rates and coverage from competing carriers and get you the best deal. Plus, they can offer affordable protection for your home, business and other assets. So rather than spending hours gathering quotes from various companies, you can get it done with one simple call or visit to your independent agent or broker. If you're thinking of contacting an independent agent, here are a few things to consider: • What's your lifestyle? Many factors determine auto insurance rates, not just vehicle year, make and model.
Jordan's is betting Sox won't win Series
Would you bet millions of your company's dollars that the Red Sox won't win the World Series? Eliot Tatelman will soon find out whether that's a smart wager. His company, Jordan's Furniture , promises customers who buy furniture between March 7 and April 16 that if the Sox take the crown, their purchases are free. Tatelman says he's a lifelong Sox fan who would want nothing more than to see the team go all the way, no matter how much he stands to lose. Just in case, though, he's got an ace in the hole: an insurance policy. Tatelman won't name his insurer or say how much the policy cost, but it does protect Jordan's from what Tatelman estimates would be "many millions" in payouts to customers if the Sox do win. "We shopped around and got a quote that we could live with, and based upon the increase in business that we're going to do, it's paying for itself," Tatelman said.
Time to Reprice Your Life Insurance
If only everything you had to buy were like life insurance. Comparison-shopping for policies is easy, and prices have been going down for more than a decade. For example, a healthy 40-year-old man paid at least $995 per year for a $500,000 term-insurance policy with a 20-year rate guarantee in 1994. Now, the same policy would cost him as little as $355. And you don't have to be in the best of health to find good deals. Until recently, it was nearly impossible to buy life insurance if you had been diagnosed with cancer. Several years after completing treatment you might have been able to find a policy, but you would probably have had to pay two to three times as much as a healthy individual. Today, however, some patients who have had breast or prostate cancer, as well as diabetes and coronary-artery disease, are eligible for policies at standard rates.
Common Cents: Living for the day
The first was for a 65-year-old lady whom I have known for many years. I was saddened by her death, but I knew she had lived a full life. She had married, raised a family and thoroughly enjoyed watching her grandchildren mature.The second was more difficult. More than a thousand people gathered to mourn the loss of a 35-year-old man. He was the father of four and was in the early stages of a wonderful life.He would not see his youngsters grow up. He would not have the chance to see his daughters marry or his sons play sports. The joys of grandchildren will be missed. There can be no explanation why such young people are taken. It makes no sense. Regrettably, it happens — and more often than anyone expects.My thoughts, however, turn to the survivors — especially the young mother who must now raise the children alone.
How Second Life could fix your broken DVD player
Web 2.0 is still the hottest buzzword in tech circles, with every big brand worth its salt rushing to open a headquarters in Second Life or build its own MySpace page. But beyond showing off some fancy programming, a handful of companies are already looking at the latest wave of technologies to explore whether user-generated content could be the next frontier in customer service. Since it began hosting the likes of Adidas, Dell, Reuters and Toyota, Second Life has become technology's equivalent of India or China - everyone needs an office and a strategy involving it to keep their shareholders happy. But beyond opening a shiny new building in the virtual world, what can such companies do with their remote real estate? Rather than a simple showcase, some believe Second Life could one day become a first point of contact for customers.
AIG Auto Insurance Launches GPS Based Teen Driver Pilot Program
AIG Auto Insurance today announced the AIG Teen GPS Program for auto insurance policyholders with teen drivers. According to the National Highway Safety Administration (www.nhtsa.gov), auto accidents are the leading cause of death for 16 to 20 year-olds, with roughly 6,000 young lives lost annually. The program will initially be piloted in Arizona, Illinois, New Jersey, Pennsylvania, South Carolina and Washington, and uses GPS technology to allow parents of teen drivers to monitor the location of the teen's car and driving. After installing a small GPS unit, which is easily set up in 20 minutes, parents can instantly determine the exact location of the teen's car via the Web or any phone. Additionally, the AIG Teen GPS Program will automatically send the parent an e-email and/or text message if the teen's car exceeds pre-defined speed limits or is driven too far from a pre-defined location (home, school, work, etc.).
Crawford residents slowly patching their lives
The monster roared to life east of Knoxville, out over Causey Road on the outskirts of what locals affectionately call L.A. - the "Lizella Area." It is where blooming twin cherry trees at the junction of Hamlin Road have since brightened the sandy, hardscrabble farmland. But where, in spots, spring has turned to rust. Whipped dead by a tornado 38 days ago, pine boughs that crash-landed across the countryside lie crumpled in their reddish-brown demise. Yards have taken on the gray of uprooted soil. Spirits have been plowed. The gnats are bad. Even the dogs aren't right. Some cower at the slightest breeze. Lucky, a yellowish mutt taken in seven years back by James and Patricia McCarty, rode out the storm in her tin-roofed doghouse at 723 Hamlin Road.
Abu Dhabi visitors reach 1.34m
INTERNATIONAL tourist arrivals into Abu Dhabi grew 12 per cent to 1.34 million last year as compared to 1.21 million in 2005, according to the latest Abu Dhabi Tourism Authority (ADTA) data. Hotel guest nights recorded an 11 per cent growth reaching 3.9 million last year compared to 3.5 million in 2005. The 2006 tourism figures reflect a 17 per cent year-on-year growth of Abu Dhabi's tourism industry during the last ten years between 1997 and 2006, rising from 344,385 tourists in 1997. Among the visitors, British nationals top the list with 35 per cent followed by Germany with 31 per cent of all visitors. The US ranks third representing seven per cent of the tourists. More Brits head to El Gouna
EL Gouna, the Red Seas premier leisure destination, has seen the UK emerge as its third largest source market, according to 2006 numbers put out by the tourism authority.
Court: Texas Court of Appeals, First District on appeal from the ...
Appellants, Walter M. Clark, Audra Clark, and Angela Miranda-Clark, in their individual capacities and on behalf of the estate of Anita M. Clark, deceased, appeal an order dismissing their suit against appellee, TIRR Rehabilitation Center ("TIRR"). In one issue, appellants contend that the trial court erred by dismissing their suit with prejudice for failure to file an expert report as required by section 74.351 of the Texas Civil Practice and Remedies Code. (1) We affirm. Background In 2003, Anita Clark, a 64-year-old woman with osteoporosis, was undergoing physical therapy at TIRR under the direction of Susan Lilly, a licensed physical therapist and employee of TIRR. On June 12, 2003, Anita was standing on an apparatus known as a "balance board," as directed by Lilly.
Houston Strikes Early for 10-4 Victory Over UAB Saturday
HOUSTON, TEXAS - The UAB Blazers lost a 10-4 decision to the Houston Cougars on a rain soaked and cold Saturday afternoon at Cougar Field. The loss is the first Conference USA loss for the Blazers who fall to 16-17 (4-1 C-USA) with the loss, while Houston is now 16-14 (4-1 C-USA). The two teams will play the third and final game of the series on Sunday at 1 p.m. UAB senior designated hitter Levi Patmon was 2-for-3 with two RBI on Saturday, while senior third baseman Ryan Lovdahl was 2-for-5 with an RBI. Sophomore outfielder Brint Hardy was 1-for-3 with two RBI, a triple and a walk. Freshman shortstop Jonathan Merritt, junior outfielder Phil Bell and senior outfielder J.R. Bond all had one hit in the game. On the mound, freshman left-hander Shay Crawford was tabbed with the loss for the Blazers after lasting just a third of an inning in which he allowed two earned runs.
Rhode Island to Debut Low-Cost Health Plan for Small Business
PROVIDENCE, R.I. (AP) - Two new health plans available to employees of small businesses this fall will offer discounted coverage to people who agree to keep fit and quit smoking. Details of the plans were released Tuesday and will be offered in October by Blue Cross & Blue Shield for $323 a month and UnitedHealthcare for $309 per month. Both require customers to get a health screening, select a primary care doctor and create a plan to monitor long-term illnesses such as diabetes. People who are overweight will have to enroll in a weight-management program or show they're losing weight. Smokers would have to enroll in a program to stop. Those who don't will have to pay more. .
'Evil' nieces and nephews cause worries over will
Editor's note: The information in this column is not intended as legal advice but to provide a general understanding of the law. Readers with legal problems, including those whose questions are addressed here, should consult attorneys for advice on their particular circumstances. Q: My mother owns a home and two adjacent properties without houses. I don't know if she has a will. Is there any way I can find out if she does have a will and if I'm in it? There are evil nieces and nephews who want their auntie to leave them something. What claims might my cousins make on my mother's property that I'm hoping I will inherit? Is there anything I can do to ensure that her property gets left to me? A: The only sure way to find out if your mother has a will or if you are in it is to ask her.
Bredesen Formally Launches CoverKids Program
Gov. Phil Bredesen on Monday traveled to a suburban YMCA in Nashville, the Bellevue Family YMCA and J.L. Turner Lifelong Learning Center, to officially launch CoverKids, which provides comprehensive health coverage to uninsured children who do not qualify for TennCare. BlueCross BlueShield of Tennessee will administer CoverKids.
"Over 100,000 Tennessee children go without any health insurance every year. Starting today they are covered," Bredesen said. "CoverKids provides access to complete health care coverage for these children so they have the opportunity for a healthy start in life."
He said CoverKids offers comprehensive health insurance coverage for children 18 years-old and younger, similar to the benefits offered to dependents of state employees. Emphasis is placed on preventive care and services most needed by children, including vaccinations, well-child visits, healthy babies program, and developmental screenings.
After the Madness: UCLA and Loyola Marymount Student-Athletes get ...
HARTFORD, Conn.--(BUSINESS WIRE)--What becomes of student-athletes when their collegiate sports careers come to a close? With less than 1 percent making it to the professional level, the vast majority move on to work in the "real world" – most of them largely unprepared for the financial challenges ahead. Nearly half of student-athletes in California say they have not yet begun planning for their financial future, according to a survey by The Hartford Financial Services Group, Inc. (NYSE: HIG). Student-athletes at UCLA and Loyola Marymount University will be setting aside their sports playbooks for a personal finance handbook this week, as The Hartford brings Playbook for Life, an award-winning national education program to the two campuses on April 10 and 11. Developed in collaboration with the National Collegiate Athletic Association (NCAA®), the program gives college students the basic financial knowledge required for personal success.
Rest home health-plan sales criticized
State investigators are looking into complaints that insurance agents switched memory-impaired residents of a Cary rest home from traditional Medicare to private Medicare plans, resulting in higher costs and fewer benefits for the residents. Such tactics might be on the rise across North Carolina and the nation. Insurance regulators and advocates for older people say they have seen increasing evidence of inappropriately aggressive sales tactics for "Medicare Advantage" programs, which are private insurance policies that are paid by Medicare. People who switch to private Medicare policies often have to change doctors and hospitals and can face higher payments - circumstances that might not be fully explained by unscrupulous brokers, according to a January report by the Medicare Rights Center and California Health Advocates.
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