Regulatory Guidance On Bank Stress Testing Deemed Sound
May 17 - Bank regulators Monday forged ahead with final guidance regarding internal stress testing for large banking organizations with consolidated assets greater than $10 billion. Fitch Ratings views the supervisory guidance as sound and sufficiently flexible for firms to be able to comply. We note that the largest financial institutions already employ most if not all components of the guidance and should not face any hurdles complying. [...]
More States Work To Implement Health Care Law
WASHINGTON--(BUSINESS WIRE)--Health and Human Services (HHS) Secretary Kathleen Sebelius announced today that Illinois, Nevada, Oregon, South Dakota, Tennessee and Washington will receive more than $181 million in grants to help implement the new health care law. The grants will help states establish Affordable Insurance Exchanges. Starting in 2014, Affordable Insurance Exchanges will help consumers and small businesses in every state to choose a private health insurance plan. These comprehensive health plans will ensure consumers have the same kinds of insurance choices as members of Congress. Including today’s awards, 34 states and the District of Columbia have received Establishment grants to fund their progress toward building Exchanges. [...]
AIA Submits Statement On The U.S. Insurance Sector’s International Competitiveness
WASHINGTON, D.C., May 17, 2012 – David Snyder, vice president and associate general counsel for the American Insurance Association (AIA), submitted a statement to the House Financial Services (HFSC) Subcommittee on Insurance, Housing and Community Opportunity in advance of today’s hearing entitled “U.S. Insurance Sector: International Competitiveness and Jobs.” AIA’s statement emphasized that there remains a disconnect between the continued significant global insurance capacity and a strong demand for insurance products that is often created by protectionist barriers in emerging markets. [...]
Dog Attacks Account for One-Third of Homeowner Insurance Claims
LOS ANGELES — Of the 4.7 million Americans bitten by dogs annually, more than half are children, according to the Centers for Disease Control and Prevention (CDC). The U.S. Postal Service, the medical community, veterinarians and the insurance industry are working together to educate the public that dog bites are avoidable. [...]
Healthcentric Partners Opens as Engagement Strategy and Marketing Consultancy
Former Healthways Executive to Lead Firm Focused on Sustainable Engagement for Employee Health and Well-Being Improvement [...]
US Healthcare Costs' Annual Growth Rates Little Changed in March 2012 According to the S&P Healthcare Economic Indices
NEW YORK, May 17, 2012 /PRNewswire/ -- The S&P Healthcare Economic Composite Index indicates that the average per capita cost of healthcare services covered by commercial insurance and Medicare programs increased by 5.68% over the 12-months ending March 2012. This is a modest deceleration from the +5.72% rate posted for February 2012. [...]
Life Insurance Providers Could Benefit by Increasing Outreach and Education, Deloitte Survey Reveals
NEW YORK, May 17, 2012 /PRNewswire/ -- A prime reason many uninsured individuals don't have insurance coverage is that no carrier has invited them to purchase their products, according to a Deloitte survey of life insurance buyers. Even insured individuals who are open to buying additional coverage often say that they have not been solicited by carriers. [...]
5 Things Everyone Should Know About Their Will
Every time I meet with a client to discuss an estate plan I am reminded that no one likes to think about what will happen after they have passed away. [...]
BestDay Audio Features Interview with Willis' Tony Phillips on Changing Use of Reinsurance in Latin America
OLDWICK, N.J.--(BUSINESS WIRE)--Tony Phillips, managing director jointly for Latin America and the Caribbean for Willis Group, is featured in the May 16 edition of BestDay Audio. Please visit http://www.ambest.com/v.asp?v=phillips512 to listen. [...]
Protecting Retirement Investments From Risk a Top Concern for Americans of All Ages Says Schwab Survey
SAN FRANCISCO--(BUSINESS WIRE)--Protecting against risk is the most important concern for Americans of every age when it comes to managing their retirement assets, according to Charles Schwab’s latest quarterly Retirement Pulse Survey released today. Schwab’s survey found that 35 percent of Americans consider protecting retirement assets more important than growing those assets, while only eight percent consider growing retirement assets more important than protecting them. [...]
InsuranceNewsNet Video Wins Communicator Award of Distinction
CAMP HILL, Pa.--(BUSINESS WIRE)--InsuranceNewsNet’s video The Precious Resource was recognized for excellence by the International Academy of Visual Arts (IAVA) with its Communicator Award of Distinction in the Film/Video Direct Marketing category. [...]
MetLife to Pay Eligible Life Insurance Policyholders $1.36 Billion in Policy Dividends
NEW YORK--(BUSINESS WIRE)--MetLife, Inc. (NYSE: MET) has announced that four of its life insurance subsidiaries (Metropolitan Life Insurance Company, MetLife Investors USA Insurance Company, New England Life Insurance Company, and General American Life Insurance Company), approved an aggregate payment amount of approximately $1.36 billion in policy dividend payments to eligible life insurance policyholders for 2012. [...]
Transamerica Teams with Habitat for Humanity to Build Homes Across Nation
LOS ANGELES--(BUSINESS WIRE)--Transamerica announced today its plan to team up with Habitat for Humanity to transform tomorrow through a housing grant and home improvement efforts in 13 major cities across the U.S. As part of Transamerica’s commitment to volunteerism, nearly 500 employees are banding together to support local neighborhood stabilization efforts during the month of May. [...]
Don't let the Rain Fool you - This Could be a big Year for Subsidence Claims Says Allianz
LONDON, May 17, 2012 /PRNewswire/ -- It may have been the wettest April for 100 Years but after two winters of exceptionally low rainfall the lack of soil moisture can be a real problem for homeowners as it can cause the ground beneath housing foundations to contract which can result in serious subsidence damage. [...]
Important Tips to Avoid Contractor Fraud after a Storm
WEST DES MOINES, Iowa--(BUSINESS WIRE)--With nearly 5,300 reports of severe weather involving tornadoes, wind or hail already this year1, storm-chaser scam artists are eager to approach unsuspecting victims. Being alert and aware of the potential for fraud can protect you from becoming a storm victim twice. [...]
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