Insurance News

Posts Tagged ‘Policies

Decisions such as the Federal Emergency Management Agency?s to delay charging market rates for policies sold in certain areas under the deficit-ridden National Flood Insurance Program, could become more common, an insurer group said.

An official of the Property Casualty Insurers Association of America warned that extensions like the two-year delay are likely to be the rule rather than the exception, at least until legislation as proposed Read the rest of this entry »

Anyone with a life insurance policy they haven?t carefully read will want to do so ASAP after they learn about one widow?s unsuccessful fight with her dead husband?s life insurer.

It all started when Craig Bauer, an executive at manufacturer Omron Electronics, died in June 2006 of bacterial meningitis following a business trip that included stops in Brazil, China and Japan. Bauer had life insurance through his employer. The policy Read the rest of this entry »

Despite some large payouts to wealthy homeowners stung by the Madoff Ponzi scheme, it is unlikely that property underwriters will set about revising coverage language for fraud, an expert said.

Robert P. Hartwig, president of the Insurance Information Institute, commented on the issue of claims compensation for victims of the Madoff scheme after a well-publicized class action lawsuit.

That legal action came after American International Read the rest of this entry »

Uncle Sam has never been accused of having a perfect record for things such as vision and forward planning. Remember Hurricane Katrina?

But it turns out he was particularly prescient three years ago, when the Office of Personnel Management issued a guide called “Human Capital Planning for Pandemic Influenza.”

“Although the timing cannot be predicted,” the 2006 report said, “history and science suggest that we will face one or more Read the rest of this entry »