HHS Demands Rate-Increase Explanation From Anthem: As California's Anthem Blue Cross increases its individual premiums dramatically, Kathleen Sebelius, secretary of the U.S. Department of Health and Human Services, is requesting justification from the company's president. ...
Date: 2/8/2010    Source: BestWire News

Keystone Insurers Group Continues Expansion in Kentucky: Keystone Insurers Group, a network of more than 200 independent agencies in six states, said it's continued its expansion in Kentucky with the addition of five new agencies. The agencies increase Keystone's presence...
Date: 2/8/2010    Source: BestWire News

Sanford Health Plan Enters N.D. Health Insurance Market: The nonprofit Sanford Health Plan has received approval from North Dakota insurance regulators to sell health insurance in the state. Sanford Health received its certificate of authority from the North Dakota Depart...
Date: 2/8/2010    Source: BestWire News

Hanover Looks to Drop, Shift About Half Its Louisiana Homeowners Policies: If its plan is approved by state regulators, Hanover Insurance Group will shift more than half of its policies in Louisiana to Gulfstream Property and Casualty Insurance Co. Hanover spokesman Michael Buckley said the...
Date: 2/8/2010    Source: BestWire News

Mother-Daughter Team Arrested in $1.4 Million California Fraud Case: California insurance regulators charged a mother-daughter team and two men with multiple felony counts of insurance fraud and grand theft totaling more than $1.4 million. Department of Insurance detectives arrested M...
Date: 2/8/2010    Source: BestWire News

A.M. Best Revises Outlook to Negative for Ratings of Health Alliance Medical Plans, Inc. and Its Affiliate: A.M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength ratings of B++ (Good) and B+ (Good) and issuer credit ratings of “bbb” and “bbb-”of Health Alliance Medical Plans, Inc. and its...
Date: 2/8/2010    Source: BestWire News

ACLI: Ban Life Settlement Securities to Prevent STOLI Abuse: The life insurance industry has come out strongly against securitizing life settlements, with a newly expressed policy from the American Council of Life Insurers calling for the practice to be universally banned. Tu...
Date: 2/8/2010    Source: BestWire News

A.M. Best Special Report: Life Insurers Take Stock and Lay Groundwork for Recovery: The life insurance industry so far has survived the financial crisis—bruised certainly—but generally healthier than its financial services peers. The industry’s asset side and capital strength was most notably affected. While...
Date: 2/8/2010    Source: BestWire News

Bruce Kessler Named President of Ace's Westchester Casualty & Specialty Lines: Bruce Kessler has been named president of casualty and specialty lines at Ace Westchester, of the Ace Group. Most recently, Kessler was executive vice president and chief underwriting officer of Ace Insurance-North A...
Date: 2/8/2010    Source: BestWire News

BestWeek Asia/Pacific: Singapore Rebounds as Captive Hub After the Global Financial Crisis: This week's edition of BestWeek Asia/Pacific explores Singapore's rebound as a regional captive insurance hub in the wake of the global financial crisis. A.M. Best Co.'s BestWeek Asia/Pacific is a multimedia online d...
Date: 2/8/2010    Source: BestWire News

A.M. Best Affirms Ratings of USHEALTH Group Inc.’s Subsidiaries: A.M. Best Co. has affirmed the financial strength ratings of B (Fair) and issuer credit ratings of “bb” of National Foundation Life Insurance Company (NFL) and Freedom Life Insurance Company of America (FLICA), both subsidiar...
Date: 2/8/2010    Source: BestWire News

A.M. Best Special Report: U.S. P/C Industry’s Profits Rebound; Challenges to Persist: The U.S. property/casualty industry’s operating results recovered in 2009 from a catastrophe riddled 2008, driven by improved underwriting results and the continued recovery in the financial markets. A.M. Best Co. expects the...
Date: 2/8/2010    Source: BestWire News

A.M. Best Special Report: Weak Economy, Higher Costs, Enrollment Declines Hurt Results: Health insurers’ results in 2009 were impacted by rising unemployment, an uptick in utilization, pricing pressures from employer groups and the H1N1 virus. A final health care reform bill was not passed in 2009 and the future...
Date: 2/8/2010    Source: BestWire News

Aetna Pays $750,000 Fine Over Violations to Small Business Health Program: Aetna Health Inc. has paid a $750,000 fine as part of a settlement with New York insurance regulators concerning violations related to its administration of the state-subsidized Healthy New York program for small businesses....
Date: 2/8/2010    Source: BestWire News

Ga. Governor Calls for Making Insurance Commissioner Post an Appointed One: Georgia voters will elect a new insurance commissioner in November -- maybe for the last time. Gov. Sonny Perdue proposed a constitutional amendment to make the state's four elected constitutional offices, including ...
Date: 2/8/2010    Source: BestWire News

CNA Financial Posts 4Q Gain After a Loss in the Prior-Year Quarter: CNA Financial Corp. shifted to a $246 million profit during the fourth quarter 2009, compared with a net loss of $336 million during the same time the prior year, driven mainly by improvements in the company's investment port...
Date: 2/8/2010    Source: BestWire News

AIG Creates New Position to Oversee Risk and Investments: American International Group Inc. said it's created a new position to oversee finance, risk and investments. Peter D. Hancock has been tapped to fill the new role as executive vice president of finance, risk, and inv...
Date: 2/8/2010    Source: BestWire News

Obama Extends Invitation to Republicans for Health Reform Summit: Though President Barack Obama has routinely encouraged Congress to restart the health care reform process that has stalled in recent weeks, the White House has offered little direct help in spurring negotiations -- though tha...
Date: 2/8/2010    Source: BestWire News

WellPoint CEO to Become Chairman; Company Continues to Shed Enrollment: Angela F. Braly, president and chief executive officer of WellPoint Inc., will become chairman of the board of directors of the U.S. health insurer starting March 1. She will replace Larry C. Glasscock, former president and C...
Date: 2/8/2010    Source: BestWire News

A.M. Best to Attend Zukunftsmarkt Altersvorsorge 2010: A.M. Best Co. will attend Zukunftsmarkt Altersvorsorge 2010 (Tomorrow’s Market — Provision for Old Age). The conference, which focuses on the future of the German pensions market, will be held 22-23 February in Cologne, Germa...
Date: 2/8/2010    Source: BestWire News