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A.M. Best Company has made the following rating update: Company: Catlin Specialty Insurance Company AMB Number: 10092 Current Rating: A Previous Rating: A
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, [...]
Frank, Kanjorski Release Letters Calling for FHFA to Protect Taxpayers
August 22nd, 2010 
gary Washington, DC – Today, Congressman Barney Frank (D-MA), Chairman of the House financial Services Committee, and Congressman Paul E. Kanjorski (D-PA), Chairman of the Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises released letters to the White House calling for the Federal Housing Finance Administration (FHFA) to use all of its powers to recover [...]
TURKEY’S VAKIFBANK TO OPEN A BRANCH IN IRAQI CITY OF IRBIL
August 22nd, 2010 gary Turkish lender Vakifbank will open a branch in the Iraqi city of Irbil by the end of the year. Suleyman Kalkan, director-general of the Vakifbank, told reporters, “we applied to the central government of Iraq to open a branch in Irbil. We have already received a prior approval. We are planning to open our branch [...]
Shengda Vehicle Insurance Eyeing After-market Service
August 19th, 2010 gary Shanghai-based Shengda Vehicle Insurance captured a premium revenue of CNY 210 million in the first half of 2010, with net profit from the after-market service hitting CNY 2 million. “Amid fiercer competition, it plans to attach more importance to the after-market service in a bid to enhance the customer stickiness,” said President Bu Jiangyong. Shengda [...]
Property Insurers Start Making Profit
August 19th, 2010 gary Property insurers in the Chinese market begin making profit this year after a long-term loss-making operation. Statistics from the China Insurance Regulatory Commission (CIRC), the top Chinese insurance regulator, show that the premium revenue they captured in the first half of the year reached CNY 201.8 billion, soaring 33.5 percent year on year, with underwriting [...]
The Red Queen dilemma: can the insurance industry resolve it?
August 19th, 2010 gary Following the financial crisis, the landscape of the insurance industry has changed. Due to the Red Queen dilemma, players are going to have to adapt quickly to the changing market, but some have not even yet realized that this is necessary. Research by Ovum reveals that insurers’ awareness of the dilemma and ability to deal [...]
Pennsylvania Man Charged in $1.4 Million Insurance Fraud Case
August 19th, 2010 gary The Pennsylvania Attorney General?s office filed insurance-fraud charges against a man who claimed his modular townhouses sustained wind and water damages amounting to $1.4 million during a storm. Authorities accuse Kevin Paul Kollar, of Pottstown, of submitting claims for eight modular homes, packed in sections in boxes, that he said suffered damage during a storm [...]
Joint and Several Liability Reallocation Agreement
August 19th, 2010 gary SUMMARY: The Farm Credit Administration (FCA or we) is publishing for comment a Joint and Several Liability Reallocation Agreement (Agreement) to be entered into by all of the Banks of the Farm Credit System (Farm Credit or System) and the Federal Farm Credit Banks Funding Corporation (Funding Corporation). The Agreement is designed to establish a [...]
SHARES IN AUSTRALIA’S AMP FALL ON POSTING 17% RISE IN H1 PROFIT
August 19th, 2010 gary Shares in Australia’s AMP Ltd (ASX:AMP) slipped 4.5 per cent to the lowest in more than a year after the wealth manager increased first-half profit 17 per cent and expressed caution about the global economic outlook and ongoing market volatility. The shares fell 24 cents, or 4.51 per cent, to $5.08 by 1024 AEST, the [...]
S.KOREAN INSURERS TO POST RECORD RESULTS THIS YR: SAMSUNG LIFE
August 19th, 2010 gary South Korea’s insurance firms are on pace to report record high earnings this year after impressive results in the first quarter of fiscal 2010, led by top life insurer Samsung life insurance Co. (KSE:032830), sources said Thursday. Samsung Life is widely predicted to chalk up a net income of over 1 trillion won (US$849.9 billion) [...]
LifeCare Holdings Releases 2Q and 6 Months 2010 Results
August 18th, 2010 gary LifeCare Holdings, Inc. has announced its operating results for the second quarter ended June 30. In a release on August 16, the Company stated that net patient service revenue of $90.6 million for the three months ended June 30, decreased $1.0 million, or 1.1 percent, from $91.6 million in the comparable period in 2009. Patient [...]
Government Employees Insurance Company to Hire for Tucson Office
August 18th, 2010 gary Government Employees Insurance Company said it plans to hire more than 80 new associates in its Tucson, Ariz., office between now and the end of the year thanks to a steady increase in the number of drivers who switch to Geico. Martha Furnas, vice president of the Tucson staff, said, in a release, “Despite the [...]
