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A.M. Best Co. has downgraded the financial strength rating to C+ (Marginal) from B- (Fair) and issuer credit rating to “b-” from “bb-” of Atlanta life insurance Company. The ratings have been removed from under review with negative implications and assigned a negative outlook. Atlanta Life is the life insurance member of Atlanta Life financial [...]
HealthWyse partners with ZirMed
HealthWyse, a provider of home health and hospice software and services, has partnered with ZirMed, a provider of revenue cycle management solutions, to bring enhanced administrative and revenue cycle management functions to home health and hospice organizations nationwide. The partnership pairs ZirMed’s claims management and revenue generation tools with HealthWyse’s core set of enterprise capabilities, [...]
Zurich-Based Perils Tops $250 Million in Risk Transactions With Allianz-Munich Re Deal
Total placements of insurance risk transactions based on Perils AG’s industry loss index exceeded $250 million (198 million euros) in the first six months of 2010, the company said. The Zurich-based provider of industrywide European catastrophe insurance data said its latest transaction was related to a private placement between Allianz Risk Transfer and Munich Re, [...]
A.M. Best Revises Outlook to Stable for AXA Financial and Subsidiaries
June 14th, 2010 
gary A.M. Best Co. has revised the outlook to stable from negative and affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit rating (ICR) of “aa-” of certain life insurance subsidiaries of AXA financial including its operating subsidiary, AXA Equitable life insurance Company. Concurrently, A.M. Best has revised the outlook to stable from [...]
Philippine banks pay their executives more last year: central bank
June 14th, 2010 gary Salaries given to bank executives were the biggest non-interest expenses incurred by Philippines Banks last year, according to a report released by the local central bank on Sunday. Executive’s pay package grew by more than a tenth to 74.4 billion pesos (1.59 billion U.S. dollars) last year over 2008, 35. 8 percent of the Banks’ [...]
39 Days After Announcement Shares Up 9.52%
June 14th, 2010 gary When Meadowbrook Insurance Group (NYSE:MIG) reported earnings 39 days ago on May 03, 2010, analysts, on average, expected the company to report earnings of $0.24 on sales of $177 million. The company actually reported EPS of $0.30 on sales of $174 million, beating EPS estimates by $0.06 and missing revenues estimates by $3 million. Since [...]
USDA Announces Additional Funding to Respond to Expected Grasshopper Outbreaks in Western States
June 14th, 2010 gary USDA Announces Additional Funding to Respond to Expected Grasshopper Outbreaks in Western States WASHINGTON, June 11, 2010 – Agriculture Secretary Tom Vilsack today announced the availability of emergency funding to conduct suppression treatments that will protect up to four million acres of rangeland in some western states potentially impacted by expected grasshopper outbreaks this year. [...]
Appealing An Ineligibility Letter May Turn ‘No’ To ‘Yes’
June 14th, 2010 gary OKLAHOMA CITY, Okla. — Oklahomans who have received notice from the Federal Emergency Management Agency (FEMA) that they are ineligible for disaster assistance following the May 10-13 tornadoes and storms may be able to use additional documentation to turn that “no” into a “yes.” “Every applicant has the right to appeal a decision,” said Federal [...]
DON’T DISCRIMINATE BASED ON LEGAL ‘SOURCES OF INCOME’ OR RISK FUNDING
June 14th, 2010 gary HUD TELLS GRANT APPLICANTS: DON’T DISCRIMINATE BASED ON LEGAL ‘SOURCES OF INCOME’ OR RISK FUNDING New requirement part of broader civil rights protections WASHINGTON – The U.S. Department of Housing and Urban Development will begin requiring applicants seeking grant funding to comply with state and local laws that protect individuals from being denied housing based [...]
NUMBER OF JOBLESS BENEFIT APPLICANTS IN TAIWAN DOWN IN MAY
June 14th, 2010 gary The number of the first-time applicants for unemployment benefit fell greatly in May to the same level as before the financial meltdown took place in late 2008, the Council of Labor Affairs (CLA) said Sunday. The CLA’s Bureau of Labor Insurance said the number of first-time applicants for the benefit averaged between 5,000 and 7,000 [...]
Bangladesh Insurance Association hails budget for next fiscal
June 14th, 2010 gary Bangladesh Insurance Association on Saturday hailed the proposed national budget for fiscal 2010-2011. The association, however, strongly suggests that capital gain tax on companies should be reduced from 10 percent to 5 percent and tax on sponsor directors should be reduced from 5 percent to 3 percent. In a press release, Insurance Association leaders thanked [...]
Health Care for America Now’s Ethan Rome on Health Care Reform
June 11th, 2010 gary BestDay Audio Podcast for Friday, June 10: Ethan Rome, executive director of Health Care for America Now, discusses the next steps in advocating for health care reform. Recent episodes of BestDay Audio include: ? Thursday, June 10: Rob Cage, active underwriter of Chubb 1882, Chubb’s new syndicate at Lloyd’s, discusses the syndicate and Chubb’s plans [...]
Arch Re Facultative Opens Montreal Office
June 11th, 2010 gary Arch Re Facultative announced the opening of its office in Montreal, Quebec. In a release, the Company noted the office will operate as Arch Re Facultative, a division of Arch Insurance, and will be led by Marco Delgado. Delgado will serve as Underwriting Director. The office will be located at 1000 de La Gauchtiere Street, [...]
INDIA’S ONGC EXPECTS OFFSHORE ASSETS
June 11th, 2010 gary $all $in $enr $oil $ins NEW DELHI, June 10 Asia Pulse – Indian state-run Oil and Natural Gas Corporation (ONGC,500312) on Wednesday said it expects its insurance premium for offshore assets to rise sharply following an oil leak in the Gulf of Mexico that has been described as the worst in the US history. “Insurance [...]
