Laid off workers are continuing to opt for health care coverage under the auspices of the Consolidated Omnibus Budget Reconciliation Act (COBRA), new analysis by Lincolnshire, Ill.-based Hewitt Associates finds. Like what you see? Click here to sign up for Insurance Networking News weekly newsletter to get the latest on breaking industry news, carrier technology implementations and developing business and technology trends. Hewitt analyzed COBRA enrollment rates for workers who were voluntarily or involuntarily terminated from their jobs since 2004. Full Article…
AIG reported a $2.66 billion loss in the second quarter, Missouri voters shot down one aspect of the federal health care reform law and a new report has found that questionable auto insurance claims have increased.
AIG Reports $2.66 Billion Loss
Life insurer AIG has reported a second quarter net loss of $2.66 billion, which is a considerable drop from its $1.82 billion loss posted in the first quarter. However, the loss is not from a drop in earnings.
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Man’s best friend is shaping up to be an insurer’s worst nightmare. Like what you see? Click here to sign up for Insurance Networking News weekly newsletter to get the latest on breaking industry news, carrier technology implementations and developing business and technology trends. According to new statistics released today by the Insurance Information Institute (III), dog bite claims are chomped on insurers’ legs to the tune of $412 million in 2009, an increase of 6.4% from 2008. Bites also accounted for more than one-third of all homeowners insurance liability claims paid out in 2009. Full Article…
On Sunday, the National Association of Insurance Commissioners issued a consumer alert about the industry practice of retaining life insurance funds. This alert follows a recent series of subpoenas from the New York State Attorney General to life insurance companies that he suspected were holding funds in retained-asset accounts to grow interest and make money rather than distributing life insurance policy funds to beneficiaries.
Life Insurers Under Fire
Last week, we reported New York Attorney General, Andrew Cuomo, had subpoenaed more life insurance companies in an effort to determine how the retained-asset funds of life insurance beneficiaries were being managed.
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Northwestern Mutual Financial Network is in many respects the finest life insurance company in the United States, and probably the World. Around and about 1975 I had the unforgettable experience of joining their field force. The training I received was second to none that I know about. It was grueling…Though I had been selling life insurance for about 10 years before that I can sincerely say that the Northwestern experience taught me to sell life insurance in the right way. I was exposed to some true professionals who put the interest of their prospects and clients above all else…
When their agents are finally allowed to go out for the first time and present their products to prospective clients they know what they are doing.
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