| Canadian pleads not guilty in $7mln insurance scam
NEW YORK (Reuters) - A Canadian man accused of running an insurance-fraud scheme that netted more than $7 million pleaded not guilty on Friday to criminal fraud charges in U.S. District Court. Ian Stuart, who was arrested in Canada last May and extradited to New York on Thursday, was arraigned before U.S. District Judge Jed Rakoff in Manhattan. Stuart was accused of holding himself out to New York insurance brokers as a wholesale insurance broker able to place insurance coverage, and as an authorized agent for various insurance companies, including underwriters at Lloyd's of London, Great American Insurance Co., Tower Insurance, and Traveler's Insurance. The government alleged Stuart, using several fake agency affiliations and pseudonyms, collected more than $7 million in policy premiums from about 2000 through 2004 as part of the fraud.
AM Best Launches New Online Consumer Insurance Information Center
OLDWICK, N.J.--(BUSINESS WIRE)--April 5, 2007--A.M. Best Co. has launched Best's Consumer Insurance Information Center, an online resource designed to inform consumers about the various insurance options available to them, and to demonstrate the importance of an insurer's Best's Financial Strength Rating in determining how likely the company is to fulfill its financial obligations to policyholders. Overview information on life insurance and annuities, health and accident insurance, and auto, home and personal property insurance is currently available in this Center. Visitors can also expect to find answers to basic questions that may arise when deciding on the line of coverage that would best suit their needs, such as: "What does it protect against?" "Who needs it?" and "When should I buy it?"
This Center features a convenient tool that lets users search for an insurer and view its Best's Rating, basic contact information and its top five lines and states of business (by direct premiums written).
Retirement plans should fit life stages
Retirement planning is like budgeting. We know we ought to do it, but few of us pay more than lip service to it.
A recent survey of 1,000 people by Scottrade Inc., the discount brokerage firm based in St. Louis County, shows that retirement is Americans' top financial concern. However, two-thirds of those surveyed didn't think they were saving enough for retirement, while a third think they will be unable to retire.
You're worried. So, what's next? Retirement-planning experts say you can begin at any stage of life. Approaches to planning typically vary by your age, income and relative wealth. But the need for it cuts across all age groups and income levels.
First, you might want to think about goals. What does retirement mean to you? Quitting work and moving to a tropical getaway? Changing to a low-stress job? Turning a hobby into a business? Living out your days with your feet up in your own home? .
Driving down cost of insurance products
SHOPPING around for cheaper car , travel and health insurance may not be as exciting as a little retail therapy, but you could end up saving enough money to fund your next buying extravaganza. It's simple to buy cover on the Internet as policies are easily compared and buying online can save hundreds of pounds. Moneyextra offers some top tips on ways to avoid paying over the odds for your insurance policies. Shop till you drop The price of any insurance cover can vary enormously so don't accept the first insurance quote that comes your way . By obtaining several quotes you can compare prices and ensure you are getting cover that meets your exact requirements. If you are changing your policy, always ensure you are buying like-for-like or you may discover you do not have the same level of cover when you come to claim.
Blue Chip News: Fundamental Review for Aetna Inc.
Mount Etna is Europe's most active volcano; Aetna is one of the most active health insurance companies in the US. The company operates in three segments. Its Health Care division offers HMOs, PPOs, point-of-service (POS) plans, health savings accounts, and traditional indemnity coverage, along with dental, vision, behavioral health, and Medicare plans. Aetna covers more than 15 million individuals under its health plans, some 13 million dental plan members, and 10 million pharmacy members. Its Group Insurance segment sells life, disability, and long-term care insurance, covering about 15 million people. The Large Case Pensions segment offers pensions, annuities, and other retirement savings products. Shares were down 2% expanding efforts to help consumers purchase health care. BellwetherReport.com is a leading online research firm for international investors looking to get an edge over their portfolio.
16-03-2007: AXA to enter S Korea RM32b auto insurance market
AXA, Europe's number two insurer, has secured a foothold in South Korea's US$9 billion (RM31.57 billion) auto insurance market by announcing a deal on March 16 to buy a top domestic online auto insurance unit for an undisclosed sum. The acquisition of unlisted Kyobo Auto Insurance should provide a springboard for the French insurer to advance into other insurance segments in the world's eighth-largest insurance market, where an ageing population is likely to boost demand for long-term and health-related policies. Continuing deregulation in the country's insurance sector is expected to broaden insurance companies' coverage, prompting AXA to return to Asia's third-largest economy six years after it withdrew in 2001. Unlisted Kyobo Life Insurance, South Korea's number two life insurer, is selling its entire 74.7% stake in the online insurance unit to concentrate on life insurance business, it said in a statement.
Saving for the Future is Easier Than You May Think
If you're one of the millions of consumers receiving a tax refund or bonus this time of year, you may be uncertain about the best way to spend or save your hard-earned dollars. What's the best way to begin a savings plan or invest for the future? According to experts, the appropriate course depends upon life circumstances, including financial condition, short-and long-term goals, and the needs of your dependents. "Many people think of their tax refund as extra spending money, but they should consider setting at least a portion aside for the future," said Donna DeMaio, president of MetLife Bank. "Extra money represents an opportunity to start planning for a retirement or saving for a child's education. Saving is a critical issue, because financial advisors warn that many Americans are living paycheck to paycheck, and endangering their ability to live comfortably in their golden years."
Here are some options to consider: Pay off debt.
Independence Holding Company Announces the Introduction of a New ...
STAMFORD, Conn.--(BUSINESS WIRE)--March 26, 2007--Independence Holding Company (NYSE: IHC) today reported that it is introducing a new one-life dental product to its portfolio of niche health insurance products through its member company GroupLink, Inc. ("GroupLink"). GroupLink, which has over 20 years experience in dental products, will market and administer this benefits program, which is available nationwide and to people of all ages. It is specifically designed for those individuals and families who do not have access to employer-based dental benefits, and affords individuals a choice of plans and a PPO option available at a reduced premium. General agents and brokers will have the ability to market this new product through a link to GroupLink's online system via their own websites, and enroll and bind coverage using an exclusive online enrollment system.
Blue Shield Of California Foundation Awards Nearly $7.2 M To
San Francisco, CA - Blue Shield of California Foundation recently announced grants of nearly $7.2 M, including $1M to promote comprehensive health care reform in California. The Foundation also works to expand access to health care and coverage, promote the use of medical technology to increase the quality of patient care, and to end domestic violence. To achieve comprehensive health care reform, we need a robust dialogue all across the state and in Sacramento. This year, we have a real shot at achieving our goal of health coverage for all Californians, said Crystal Hayling, president of Blue Shield of California Foundation. While we press for reform, we are committed to continuing to support innovative local efforts and safety net programs for the needy. These grants represent the quarter of BSCFs 2007 grant-making.
Database Solutions, LTD. Announces Successful Showing at the LAMP ...
TORONTO -- (MARKET WIRE) -- April 04, 2007 -- DATABASE SOLUTIONS, LTD. (PINKSHEETS: DBSJ), a Customer Relationship Management (CRM) and Technology Company for the Insurance and Financial Industry, is pleased to announce today that on March 18th through March 20th Database Solutions successfully exhibited at the LAMP 2007 Conference held in Toronto, Ontario, Canada. With over 43 of the top insurance and financial services firms in the world as members, 10 of which are on the fortune 500 list, Database Solutions had the opportunity to demonstrate the company's family of CRM products and Agent Intelligence online on-demand solution to agencies through out the United States, Canada, Mexico and overseas. Due to the overwhelming response from show attendees, Database Solutions has commenced product evaluations with exciting prospects showing excellent business potential worldwide.
Driven by demand, Flexcar expands its fleet
Drivers' frustration with gas prices, traffic congestion and parking are driving the car-sharing company to almost double its fleet of local cars, Flexcar executives said Friday at a Seattle news conference. The company will add 200 more cars in the Seattle area by the end of this year, bringing its total fleet to about 350 after it retires about 50 older vehicles. Flexcar has also expanded to Philadelphia, its 11th market. Flexcar says it's profitable in some markets but the entire company is not. It faces strong competition across the U.S., particularly from a small number of companies that compete in the same markets, like Zipcar. That company operates across the U.S. as well as Canada and in London, and says it has been profitable in all of its markets since 2004.
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