| Residents letting Boccieri know their health care insurance stance
Boccieri, meanwhile, said he hasn't made a decision on the proposed health insurance reform bill pending in the House. For starters, the initial bill was rolled through three House committees. Those three versions will be combined into a single bill. "I'm not going to take a position on something I haven't been able to read yet," Boccieri said. He believes reform is needed, saying that health care insurance and energy dependence have been the two biggest albatrosses weighing down the national economy. But Boccieri said he has concerns with some of the health insurance bill's proposals. He doesn't want to see small businesses bear the burden and be forced to take on coverage insurance companies won't pay. He likes efforts to focus on preventing health problems, because he believes that can help lower costs over the long term.
Eastern Insurance Holdings, Inc. Announces Second Quarter 2009 Results
"Our combined ratio for the three months ended June 30, 2009 in our workers' compensation insurance and group benefits insurance segments were 84.9 percent and 99.0 percent, respectively, and our consolidated combined ratio was 95.2 percent. Our favorable results were driven by solid growth in workers' compensation insurance direct written premiums, improved workers' compensation reinsurance terms, aggressive expense management initiatives and disciplined underwriting in an environment with high unemployment. Second quarter, year over year workers' compensation insurance direct written premium increased by 10.5 percent to $24.9 million as a result of solid premium renewal retention ratios, new business writings in the Southeast and the acquisition of Employers Security Insurance Company in September 2008.
Mississippi Commissioner Offers Alabama Advice on Coastal Insurance
The keys to holding down insurance premiums on the Alabama coast are strong enforcement of building codes, proper land use and mitigating homes against future disasters, Mississippi Insurance Commissioner Mike Chaney told an Alabama House of Representatives subcommittee this week. Chaney appeared before the House Insurance Regulations Subcommittee at the request of Alabama Insurance Commissioner Jim Ridling, who asked Chaney to give advice and direction to Alabama lawmakers stemming from Mississippi's experiences in the aftermath of Hurricane Katrina, which devastated the Mississippi coast in August, 2005. "This is not a simple issue," Chaney said. "It's an issue that you've got to address with great caution." Chaney said it is important to encourage competition between private insurers, enforce strong building codes and limit the number of people using the state-backed wind insurance pool.
For aging boomers, long-term care insurance is an option
Since the early 1980s insurance companies have offered policies intended to help defray those costs. And more and more often those of the Baby Boomer generation are debating the wisdom of purchasing such a long-term care (LTC) policy. According to U.S government data, this year 9 million American men and women over the age of 65 will need long-term care. By 2020, 12 million older Americans will need long-term care. And, Medicare only pays for "medically necessary" skilled nursing found in a facility (a nursing home, for example) or hired to provide home health care. Medicare does not pay for custodial care (the activities of daily living with which someone may need assistance). LTC insurance policies may be for nursing home care only, home health care only, or a combination of the two.
Judge dismisses suit against bankrupt Brooke Corp.
Scores of insurance agents sued Overland Park, Kan.-based Aleritas Capital Corp. in April, claiming it and Brooke inflated the price of insurance agencies they sold to the plaintiffs around the country and tacked on fees for services they never provided. The plaintiffs later added six banks as defendants, alleging that the banks took over Aleritas' loans to the agents and directed that they receive the agents' commissions. U.S. District Judge Carlos Murguia on Wednesday tossed out the suit, determining that the lawsuit "contains broad and conclusory language insufficient to give defendants notice of the specific conduct alleged." But Murguia did say the plaintiffs could fix the problems and resubmit the case. As for the banks, the judge dismissed them from the suit, saying the plaintiffs' claims were conclusory and not linked to Aleritas.
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