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Posts Tagged ‘Plans

Health insurance giant Humana Inc. has won federal approval for its 2011 Medicare Advantage and Prescription Drug Plan offerings, according to a filing with the U.S. Securities and Exchange Commission.

Although specific details about the plans will not be released until Oct. 1, Humana released the following statements about its planned Medicare offerings:

• Statewide prescription drug plans will be offered in 50 states, the District Read the rest of this entry »

MUNICH (Dow Jones) (Insurance News) — Allianz SE (ALV.XE), Europe’s largest insurer by gross premiums, primarily plans to grow organically, but will also examine options for mergers and acquisitions as they arise, Chief Executive Officer Michael Diekmann said Thursday.

“In the wake of the financial crisis, we also expect furtherconsolidation in the insurance market,” Diekmann said at the company’sannual earnings press conference. “However, Read the rest of this entry »

Allstate is denying a charge by an agent group that it has a goal of eliminating more than 3,000 agents in three-to-five years.

Jim Fish, executive director for the National Association of Professional Allstate Agents (NAPAA), said an internal company memo laying out the company?s strategy to grow its business in the future calls for the elimination of up to 3,300 agents whose business has not grown to between $3 million and $4 million Read the rest of this entry »

TALLAHASSE, Fla., State Farm Florida dropped its plan to withdraw from the property insurance market in hurricane-prone Florida on Wednesday as part of a settlement with state regulators that includes an average 14.8 percent rate increase for homeowners and condominium owners.

The agreement also lets the insurer, which wants to reduce exposure to the greatest storm risks, not renew about 15 percent of its policies.

The deal resolves Read the rest of this entry »

TALLAHASSE, Fla., State Farm Florida dropped its plan to withdraw from the property insurance market in hurricane-prone Florida on Wednesday as part of a settlement with state regulators that includes an average 14.8 percent rate increase for homeowners and condominium owners.

The agreement also lets the insurer, which wants to reduce exposure to the greatest storm risks, not renew about 15 percent of its policies.

The deal resolves Read the rest of this entry »

TALLAHASSE, Fla. ? State Farm Florida dropped its plan to withdraw from the property insurance market in hurricane-prone Florida on Wednesday as part of a settlement with state regulators that includes an average 14.8 percent rate increase for homeowners and condominium owners.

The agreement also lets the insurer, which wants to reduce exposure to the greatest storm risks, not renew about 15 percent of its policies.

The deal resolves Read the rest of this entry »

SAN FRANCISCO ?The National Association of Insurance Commissioners Property & Casualty Committee chairman said the panel will begin exploring how to gather data on insurers’ use of credit information to determine premiums.

The committee would like to collect information and develop a report on the controversial credit scoring issue by the third quarter of 2010, according to Illinois Insurance Director and Committee Chair Michael Read the rest of this entry »