insurance

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AIG Chief Defends Luxe Retreat
 AIG Chief Defends Luxe Retreat
Oct 8, 2008 4:00 PM CDT

AIG Chief Defends Luxe Retreat

(Newser) - AIG today defended the $440,000 luxury retreat it held on the heels of an $85 billion federal bailout, the Wall Street Journal reports. In a letter explaining its actions to the US Treasury, CEO Edward Liddy explained that the event—which racked up a $23,000 spa bill— was...

What Is AIG? (Now That We Own It)
What Is AIG?
(Now That We Own It)
Sep 17, 2008 9:49 AM CDT

What Is AIG? (Now That We Own It)

From aircraft leasing arm to wealth management group

(Newser) - For one thing, the insurance behemoth the Federal Reserve just acquired for $85 billion is profitable, explains the New York Times. AIG, which started out insuring assets in Asia, is wildly diversified and sprawling globally. Businesses range from retirement plans in the US to life insurance in the Philippines to...

Mass. Trumpets Success of Health Mandate

Under new law, state says 75% of uninsured are now covered

(Newser) - About 75% of Massachusetts residents who had been uninsured now have health coverage, thanks to the state’s closely watched, near-universal health care mandate, says a new report from Gov. Deval Patrick. Nearly half of the 439,000 newly insured bought private insurance, rather than taxpayer-funded plans, the Boston Globe...

Hurricane-Proof Your Vacation
 Hurricane-Proof Your Vacation 
Aug 17, 2008 2:21 PM CDT

Hurricane-Proof Your Vacation

A little preparation can save big bucks

(Newser) - The government’s storm-watching body upped this year’s hurricane forecast to include 14 to 18 named storms, which could spell trouble for travelers. Forbes offers tips to stem potential financial losses and prevent your Caribbean vacation from going south.
  • Know your risks: The National Hurricane Center offers a month-by-month
...

IndyMac Failure Exposes Risk for Uninsured $$$
IndyMac Failure Exposes Risk for Uninsured $$$
analysis
Jul 12, 2008 9:29 PM CDT

IndyMac Failure Exposes Risk for Uninsured $$$

Depositors with more than $100K in the bank could be in trouble

(Newser) - IndyMac Bank's failure yesterday was a "wake-up call" to anyone with deposits above the $100,000 FDIC insurance limit, Terry Savage writes in Street.com. Americans have more than $2.6 trillion in uninsured accounts, and 10,000 depositors have more than $1 billion at risk at IndyMac alone....

Mennonites, Amish Battle Hospitals Over 'Inflated' Bills

Struggle reveals rosy financial state of nonprofit hospitals

(Newser) - Jesse Martin shuns health insurance and government aid, although nine of his kids are seriously ill. Like other self-sufficient Pennsylvania Mennonites, and Amish too, Martin avails modern medicine for the fatal diseases that are ravaging their families—but is hard-up to pay the bills, which Martin claims are inflated. "...

Mammoth Writedowns Hammer AIG
Mammoth Writedowns Hammer AIG
May 9, 2008 2:41 AM CDT

Mammoth Writedowns Hammer AIG

Insurance giant posts $7.8B 1Q loss as credit woes continue

(Newser) - American International Group posted a record-breaking $7.8 billion first-quarter loss yesterday, reports the Wall Street Journal. The insurance giant blamed the poor results on the sagging housing market, the credit crunch and the see-sawing stock market. It announced plans to raise $12.5 billion to patch up the damage...

Insurers Quietly Hike Rx Costs
Insurers
Quietly Hike
Rx Costs
Apr 14, 2008 9:47 AM CDT

Insurers Quietly Hike Rx Costs

Plans slip in soaring co-pays for most expensive drugs

(Newser) - Pricey prescription drugs are getting pricier, and, the New York Times reports, insurance companies are asking patients to shoulder more of the burden. Insurers are quietly phasing out traditional drug plans, which charge a fixed co-pay of $20 or $30 to fill a prescription, in favor of so-called Tier 4...

Paulson Unveils Regulatory Reforms: No Quick Fix

Focus of plan including new oversight for Fed extends beyond current woes

(Newser) - The "transformative" changes Henry Paulson has in mind for the regulation of the US economy will take years to implement, the Treasury Secretary said today. The plan would greatly increase the Fed's oversight powers, regulate the insurance industry for the first time, and add federal oversight of the mortgage...

States Push to Restrain Insurers
States Push to Restrain Insurers
Feb 21, 2008 5:10 PM CST

States Push to Restrain Insurers

Legislators see rise in unfair cancellations of individual plans

(Newser) - As more Americans buy individual health insurance, states are acting to make sure insurers don’t cancel the plans without fair cause, USA Today reports. Plans can be canceled if applicants misreport their medical history, whether accidentally or on purpose. But amid complaints that companies are cutting the plans unjustly,...

Ten Priciest Vehicles to Insure
Ten Priciest Vehicles
to Insure
Jan 19, 2008 4:59 AM CST

Ten Priciest Vehicles to Insure

And 10 more that won't leave your wallet running on empty

(Newser) - Wary consumers already smarting from soaring gas prices won't want to miss Insure.com's new lists of the 10 priciest—and the 10 cheapest—cars to insure. The five with the highest premiums are:
  1. Dodge Ram Pickup
  2. Chevy Silverado C/K pickup
  3. Toyota Prius
  4. Honda Accord
  5. Nissan Altima

Insurer Rejects Church Over Gay Support

Fear of retaliation leads to denial of application for property coverage

(Newser) - A Michigan church has been denied property insurance not because it sits on the wrong side of the tracks, but because its national governing body sanctions gay marriage and the ordination of homosexuals, reports the Wall Street Journal. Denials are normally reserved for high-risk applicants, and Brotherhood Mutual was concerned...

Wife of 'Dead' Canoeist Behind Bars
Wife of 'Dead' Canoeist Behind Bars
Dec 12, 2007 4:37 AM CST

Wife of 'Dead' Canoeist Behind Bars

Awaiting trial for insurance fraud, mom pleads for reconciliation with her sons

(Newser) - The wife of back-from-the-dead canoeist John Darwin was sent to prison yesterday shortly after she issued a plea through her attorney for a reconciliation with her sons, who publicly disowned their parents after the scandal broke. Anne Darwin is charged with dishonestly obtaining life insurance benefits and a mortgage policy....

Darwins Were Planning Panama Canoe Resort

'Dead' boater and wife were working on a Panama paradise

(Newser) - The British man who faked his own death in a boating accident had been planning with his wife to open an eco-tourism resort offering idyllic canoeing holidays, the Times of London has discovered. John and Anne Darwin spent almost half a million dollars on property in Panama, including $390,000...

Wife in on 'Dead' Boater's Insurance Plot

Woman admits she banked benefits on 'missing' hubby

(Newser) - The wife of a British canoeist declared dead after missing for five years admitted yesterday that she knew her husband was alive before he walked into a police station last weekend claiming to be an amnesiac. Anne Darwin confessed when she was confronted with a photo of herself with her...

CA Fires Won't Harm Economy in Long Term

Rebuilding will give a boost to sagging home building sector

(Newser) - California’s runaway wildfires are not likely to do longterm damage to the state’s economy, the Los Angeles Times reports—in fact the disaster could be a boon to some sectors. One of those is construction: In the first nine months of the year, construction jobs were down 3%...

Insurer Opens (Virtual) Island Getaway

Another corporate marketing scheme pops up on Second Life

(Newser) - Cruising over to Insurance Island might not sound like the most fun thing to do with your virtual life, but Assicurazioni Generali SpA is dedicated to being the rare corporate Second Life island that works, offering a car chase game, and manning the island with real employees. The 176-year old...

SF Pioneers Health Care for All
SF Pioneers Health Care
for All
Sep 14, 2007 11:50 AM CDT

SF Pioneers Health Care for All

Groundbreaking plan targets city's 82K uninsured adults

(Newser) - San Francisco will provide health care for every uninsured adult in the city, pioneering an approach that works around the limits of the federal system. The program goes citywide on Monday and will serve adults under the poverty line through November; after that, it will be open to everyone regardless...

Health Insurance Premiums Soar
Health Insurance Premiums Soar
Sep 12, 2007 1:19 AM CDT

Health Insurance Premiums Soar

Costs outpace wage hikes for 8 years running

(Newser) - Health insurance premiums zoomed 6.1% this year, far outrunning inflation and worker earnings, a new study has found. Since 2001, premiums for family coverage have risen 78% percent, while wages have increased by only 19% and inflation by 17%, a Kaiser Family Foundation survey shows. Still, this year's hike...

US Poverty Rate Dips, but Uninsured Swell

Income inequality reaches all-time high

(Newser) - The US poverty rate has finally taken a downturn for the first time in 10 years, census figures show. The poverty rate was 12.3% in 2006, down from 12.6% the previous year, and annual household income rose to $48,200. But the news isn't all rosy: the number...

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