Insured losses from mid-Atlantic storms could top $2B: EQECAT
February 14th, 2010
Two storms struck the area, the first beginning on Feb. 5 and the second this week after, leaving some parts of the Washington metropolitan area with more than 30 inches of accumulated snow. Wind gusts of more than 50 mph were reported up and down the East Coast.
Oakland, Calif.-based EQECAT based its estimate on a preliminary assessment of the overall scale of these storms and their snow, ice and wind impacts relative to major prior events in the last two decades. EQECAT expects that the majority of the losses will be focused in the corridor from northern Virginia to the New York metropolitan area.
EQECAT said the most common sources of monetary losses are a result of roof damage, pipe breakage and ice dams in eaves causing water to leak into buildings.
Tags: Midatlantic Storms, Storms
Posted in Insurance General | Comments (0)
Harvard Pilgrim names new leader
February 10th, 2010
Mr. Schultz, currently president and CEO of Worcester, Mass.-based Fallon Community Health Plan, succeeds former Harvard Pilgrim President and CEO Charles D. Baker, who left in July 2009 to put together a statewide electoral campaign, and interim CEO Bruce Bullen. Mr. Bullen also has decided to leave Harvard Pilgrim but has agreed to help ensure a smooth transition for a period of time after Mr. Schultz arrival, a spokeswoman for Harvard Pilgrim said.
Mr. Schultz’s 27-year health insurance career also includes roles as the lead executive director of Prudential HealthCare, medical group administrator of Nashville Healthcare Group, and vp and executive director at CIGNA HealthCare.
Tags: Harvard Pilgrim, Pilgrim
Posted in Insurance General | Comments (0)
39% Premium Increase in California for Anthem
February 9th, 2010
Anthem Blue Cross in California has announced premium increases of up to 39% for its members and have defended that increase in a letter to Health and Human Services Secretary Kathleen Sebelius. As pointed out in that letter, the “39% figure” is the worse case scenario for some members.
Anthem blames the need for the increase on declining membership and skyrocketing medical costs.
So, just for curiosity, I took a look at WellPoint, Inc.’s end of 2009 financial report. WellPoint owns Anthem in California. In fact, they probably own a significant share of any health insurance in your state. “WellPoint is the nation’s largest health benefits company, with approximately 34 million members in its affiliated health plans.”
Let’s discuss SG&A expenses.
Tags: Anthem, Premium Increase
Posted in Insurance General | Comments (0)
Two Senate Democrats oppose health care strategy
January 25th, 2010
Democratic leaders said they were in no hurry to make a decision on how to proceed on a health care overhaul and did not expect specific guidance from President Barack Obama when he delivers his State of the Union address Wednesday.
“We’re trying to figure out what is possible,” said House of Representatives Democratic leader Steny Hoyer, D-Md.
Tags: Care, Health Care
Posted in Insurance General | Comments (0)
Fire Suppression Contractor Liability Insurance
January 25th, 2010
If you work in an industry that involves testing various fire protection systems, you should look into fire suppression contractor liability insurance. Some qualifying businesses can include:
- Automatic Fire Sprinkler Contractors
- Fire Extinguisher Sales & Service Companies
- Restaurant & Special Suppression System Risks
- Fire Alarm/Burglar & Security System Installers
- Fire Equipment Distributors/Fire & Emergency Apparatus Dealers
If you work within this industry, protecting yourself from the dangers of working with fire suppression is critical.
Tags: Contractor Liability, Contractor Liability Insurance, Insurance, Liability Insurance
Posted in Insurance General | Comments (0)
Become Flo’s Friend!
January 24th, 2010
Love the commercial or hate the commercial, Progressive Insurance’s “Flo,” the quirky girl selling insurance at the “Insurance Superstore,” is a very successful marketing campaign for Progressive.
Now you can be a part of the campaign!
Progressive is running a contest to find a helper for Flo. The winner gets to appear in a commercial and gets a free trip to Los Angeles, CA, for a live audition with Flo. Details can be found at helpflo.com. There you can upload your video entry.
Or, you can attend public auditions at:
- The Metropolitan Pavilion in New York City on Jan.
Posted in Insurance General | Comments (0)