CBO: Final Health Care Reform Would Spend $940B, but Cut Deficit by $138B

U.S. House Democrats had been waiting for a cost report from the Congressional Budget Office before pressing ahead with the health care reform vote that they say is inching closer to a likely passage. With the release of the CBO analysis -- which says the reforms will spend $940 billion but will reduce the budget by $138 billion over the next 10 years -- they are even closer to their goal, they said.

Highmark Sues Pa. Insurance Department Over Its Examination of Blue Cross and Blue Shield Companies

Highmark Inc. has sued the Pennsylvania Insurance Department, saying the regulator has overstepped its legal authority in its examination of the state’s Blue Cross and Blue Shield companies.

Thailand's Adyudhya to Acquire BT Insurance

Seeking to enhance its market position in Thailand, Ayudhya Insurance Public Co. Ltd. [089377] has agreed to pay 392 million baht (US$12 million) to acquire BT Insurance Co. Ltd. from CIMB Thai Bank plc.

Asia/Pacific
Aviva Acquires 60% Stake in PT Asuransi Winterthur Life Indonesia: Aviva plc [085909] said it has agreed to acquire a 60% stake in PT Asuransi Winterthur Life Indonesia as an entry into Indonesia's insurance market.

Commercial Coverage
FM Global CEO: Insurance Losses are Preventable, Not Inevitable: FM Global, the mutual commercial property insurer founded by the owner of a textile mill in 1835, still operates under the same philosophy it did 175 years ago: Insurance losses can be prevented.

Towers Watson: Survey Results Show Flat Commercial Pricing: Commercial insurance prices were flat during the fourth quarter 2009 due to competition, and for the entire year prices revealed little to no increases, according to a survey from Towers Watson.

Europe
Life Sales Drive Generali's 52% Gain in 2009 Profit: Italy's Generali Group said a strong recovery in investment performance along with growth in its life insurance segment contributed to a 52.1% rise in 2009 net profit.

Homeowners
Florida Fines Homeowners Choice Over Its Reinsurance Plans With Affiliate: The Florida Office of Insurance Regulation has fined Homeowners Choice Property & Casualty Insurance Co. $10,000 for failing to inform the office of the company's reinsurance plans.

Ratings
A.M. Best Affirms Ratings of American Physicians Capital Inc and Its Subsidiaries: A.M. Best Co. has affirmed the financial strength rating (FSR) of A- (Excellent) and issuer credit ratings (ICR) of “a-” of American Physicians Group and its primary member, American Physicians Assurance Corporation (American Physicians). American Physicians is the lead subsidiary of American Physicians Capital Inc (APCapital) [NASDAQ: ACAP]. A.M. Best also has affirmed the ICR of “bbb-” of APCapital and the FSR of B+ (Good) and ICR of “bbb-” of APSpecialty Insurance Corporation (APSpecialty). The outlook for all ratings is stable. Each of the above companies is domiciled in East Lansing, MI.

A.M. Best Affirms Ratings of Investors Heritage Life Insurance Company and Investors Heritage Capital Corporation: A.M. Best Co. has affirmed the financial strength rating of B+ (Good) and issuer credit rating (ICR) of “bbb-” of Investors Heritage Life Insurance Company (Investors Heritage Life) (Frankfort, KY). Concurrently, A.M. Best has affirmed the ICR of “bb-” of its holding company, Investors Heritage Capital Corporation (formerly known as Kentucky Investors, Inc.) [IHRC.OB]. The outlook for all ratings is stable.

A.M. Best Downgrades Ratings of Kentucky Growers Insurance Company: A.M. Best Co. has downgraded the financial strength rating to A- (Excellent) from A (Excellent) and issuer credit rating to “a-” from “a” of Kentucky Growers Insurance Company (Kentucky Growers) (Lexington, KY). The outlook for both ratings is stable.

State Regulation
Kentucky Governor, Senate Committee Want KEMI to Share Its Wealth: Kentucky's quasi-public workers' compensation insurer is fighting attempts to force it to surrender 40% of its $154 million surplus in the form of rebates to customers.