Archive for the ‘Insurance Tips’ Category
Department Of Defense Awards Humana Military Healthcare Services South Region TRICARE Contract
March 3rd, 2011
Humana Inc. (NYSE: HUM) was informed by the U.S. Department of Defense (DoD) that it has awarded the South Region TRICARE contract to Humana’s wholly owned subsidiary, Humana Military Healthcare Services, Inc. Under terms of the award, Humana Military will continue supporting the DoD’s delivery of health care services to three million active duty and retired service members and their families in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Oklahoma, South Carolina, Tennessee and most of Texas. Eligible military beneficiaries in the Fort Campbell, Kentucky area will also be served by Humana Military under terms of the award. Read full post…
Tags: Contract, Region Tricare, Region Tricare Contract, Tricare Contract
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REAL ID Drivers License Deadline for States Postponed Until 2013
March 3rd, 2011
The federal government has again postponed until 2013 the deadline for all states to be in compliance with the REAL ID program, which sets minimum national standards for drivers licenses and identification cards.
The move has been cheered by states that see REAL ID as a costly mandate from the federal government. However, key House Republicans criticized the extension as not in the best interests of national security.
The REAL ID law, a recommendation of the 9/11 Commission, was passed by Congress in 2005 and supported by President George W. Bush as a nationwide identification system aimed at stopping terrorists, criminals and illegal immigrants.
Tags: 2013, Drivers License, Real Id
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Best Affirms Endurance Specialty and Subs ‘A’ Ratings
February 25th, 2011
A.M. Best Co. has affirmed the financial strength rating of ‘A’ and issuer credit ratings of “a” of Endurance Specialty Insurance Ltd. and its affiliates. Best also affirmed the ICR of “bbb” and debt ratings of the publicly traded parent company, Endurance Specialty Holdings, Ltd.
The outlook for all ratings is stable. All of the above companies are domiciled in Bermuda.
The ratings reflect Endurance’s “strong level of risk-adjusted capitalization, solid historical operating performance over the last few years and its specialty focused, diversified business profile,” said Best. “Over the last fe
Tags: Endurance Specialty, Ratings
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Iran Oil Tanker Operator Says Ship Insurers Decline to Renew Coverage
February 19th, 2011
Iran’s biggest crude oil tanker operator, NITC, said on Friday that its club of ship insurers had declined to renew policy cover for the coming year due to the impact of tightening sanctions in the European Union.
Western nations suspect Iran is seeking to develop a nuclear bomb, although Tehran says the program is peaceful.
NITC gets its third party liability insurance and pollution cover from the P&I Club market, which are marine insurers owned by shipping clients.
“NITC has found itself caught up in a situation of tightening sanctions as a totally innocent party, along with some 100 other Iranian shipping companies,” NITC chairman and managing director Mohammad Souri said in a statement.
Souri said it hoped for an early resolution of this matter and “speedy renewal of cover” from international group clubs.
“In the meantime, the company has been obliged to ensure that alternative P&I arrangements are in place for all ships trading in its international fleet, up to the required level of $1 billion of pollution cover for each incident,” he said.
“That cover is being provided by a mixture of fixed-premium insurers and other insurance companies based outside the EU, with adequate and suitable reinsurance provision.”
Tags: Oil Tanker Operator, Renew, Ship Insurers, Tanker Operator
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Capital Insurance Group Adds Account Executives in Washington
February 13th, 2011
Monterey, Calif.-based Capital Insurance Group , a regional property and casualty insurer serving the Western United States, has added Kathy Rongey and Sheila Donovan to the Underwriting Division in Washington State.
Both will be account executives and will have front-line commercial underwriting responsibilities, promoting CIG’s personal, commercial and agricultural product lines in the state, and actively seek Washington-based insurance agencies to partner with as CIG continues to expand its business in the Northwest.
Rongey has more than 25 years of experience in the commercial insurance industry. S
Tags: Capital Insurance, Capital Insurance Group, Group, Insurance Group
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Health Care Spending Caps Will Protect Washington Families From Catastrophic Medical Expenses
February 9th, 2011
Hundreds of thousands of Washingtonians currently face the threat of catastrophic family health care expenses from serious, unexpected injuries or illnesses, such as accidents, sports injuries, cancer, diabetes, and other diseases. A new cap on out-of-pocket expenses, a key provision of the Affordable Care Act, will help those families protect both their health and their budgets.
Although the spending caps go into effect in 2014, the consumer health group Families USA asked The Lewin Group, a health care policy research and management consulting firm, to look at the impact of the caps on Washington families as if the caps were going into effect in 2011. Read full post…
Tags: Expenses, Health Care
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Ohio Supreme Court Ruling Favors Bus Wreck Survivors
February 9th, 2011
The Ohio Supreme Court said a university’s insurance coverage extended to a charter bus that crashed, killing five student baseball players and two others in 2007.
The 5-2 ruling issued Dec. 28, 2010, is a victory for families and crash survivors that have tried to bring claims against Bluffton University’s insurance policies. The Associated Press reported the ruling provides up to $16 million more in insurance money to pay claims.
At the time of the crash, the university was covered by a primary auto insurance policy issued by the Hartford Insurance Co., an “umbrella” policy issued by American Alternative Insurance Co. and an
Tags: Bus, Ohio Supreme, Ohio Supreme Court, Supreme Court
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Insurance Industry Can Help Pizzerias Avoid Losses on Super Bowl Sunday
February 4th, 2011
Americans will consumer 30 million slices of pizza on Sunday, making Super Bowl Sunday one of the busiest day of the year for pizza chains. Papa Johns, the official pizza sponsor for Super Bowl XL, expects to have its single largest sale day ever, selling more than 900,000 pizzas at its 2,800 U.S. restaurants.
Tags: Bowl Sunday, Sunday, Super Bowl, Super Bowl Sunday
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