The largely underpenetrated Indian health insurance market is expected to grow at robust CAGR of about 28% between 2010-11 and 2013-14.
(1888PressRelease) May 06, 2010 – According to our new report ?Booming Health Insurance in India?, with saturating insurance market in developed economies, the Indian insurance market, particularly health insurance, has emerged as one of the most attractive insurance markets in the world. Despite robust growth in the past few years, it remains largely untapped and offers huge opportunities for health insurers. Full Article…
The Employee Benefits Group of Sun Life Financial today announced the addition of new value-added services to its Group Basic Life coverage.
(1888PressRelease) May 07, 2010 – Customers can select one out of two available service packages: Emergency Travel Assistance and Identity Theft Protection; or Claimant Support Services and Will Preparation. This innovative approach enables employers to choose the services that matter most to their employees.
This is life insurance that provides benefits for today, as well as life insurance protection for tomorrow, said Michael Shunney, Senior Vice President and General Manager. Full Article…
West Virginia is mulling a new state agency dedicated to policing dangerous coal mines in response to an explosion that killed 29 men at Massey Energy’s Upper Big Branch mine.
The state Board of Coal Mine Health and Safety plans to recommend legislation creating the agency in time for a special legislative session planned for next week. Gov. Joe Manchin asked the board, which has rulemaking authority, to recommend ways to improve safety quickly after the April 5 explosion.
Coal industry lobbyist and board member Chris Hamilton says the legislation would create a separate agency from the Office of Miners’ Health Safety and Training.
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West Virginia volunteer fire departments are protesting an increase in workers’ compensation premiums charged by BrickStreet Mutual Insurance Co.
Tom Miller with the Sissonville Volunteer Fire Department says his group’s annual premium rose by 81 percent. He says the Wayne Volunteer Fire Department’s premium jumped by 99 percent.
Miller says some departments are discussing not running calls for a day.
BrickStreet President and CEO Greg Burton says the company changed the way it calculates premiums.
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American International Group Inc. announced Friday its quarterly earnings rose in the first quarter, but industry observers aren’t ready to declare CEO Robert Benmosche’s restoration project completed.
The company, which needed a hefty government bailout, reported a profit of $1.45 billion as a result of fewer writedowns in the quarter.
AIG owes the Federal Reserve Bank of New York about $27 billion. Last month it used some of that to repay $2.3 billion in commercial paper that matured. The New York Fed also owns $25 billion of equity in two life insurance businesses that AIG has agreed to sell to repay taxpayers. AIG
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Transocean Ltd. said Wednesday that it has received $401 million in insurance payments for an oil rig that exploded and sank two weeks ago in the Gulf of Mexico.
Transocean also said in a regulatory filing that it has recieved a request from the Justice Department to preserve information about the rig explosion on April 20. Company executives have been asked to participate in congressional hearings.
Eleven people died in the explosion on the Deepwater Horizon.
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RLA Insurance Intermediaries has opened its corporate headquarters at 50 Federal St. in Boston.
The firm provides market intelligence to retail insurance agents and brokers. The company says the opening will enable it to market its services throughout the regional, national and international insurance markets.
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Source: RLA Insurance Intermediaries
Nationwide Mutual Insurance Co. announced it will fill 1,400 job openings, including about 600 in its home state of Ohio.
The Columbus-based insurance and financial services company is recruiting for entry-level customer service and claim service positions in central Ohio and Canton, Ohio; Des Moines, Iowa; San Antonio and Amarillo, Texas; and Lynchburg, Va., said spokesman Joe Case.
The company said in a news release that it seeks employees to “support the company’s business demands.”
The announcement came as Nationwide reported first quarter net income of $396 million compared to a net loss of $106 million during the same quarter a year ago.
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