Workers’ compensation benefit payments and costs declined relative to wages in 1997 and 1998 according to a report released today by the National Academy of Social Insurance. This marks the sixth consecutive year of declining benefits relative to wages. In …
Conseco has signed a commitment letter to sell some of its assets to Lehman Brothers Bank and affiliates. Pursuant to this transaction, Lehman Brothers will purchase approximately $1.5 billion in loans from Conseco Finance, with up to $500 million of …
Dallas-based Insurance Technologies Corp. (ITC) has partnered with Rackley Systems to provide commercial lines rating software to ITC’s existing customers. The software features integration with leading management systems like Applied and AMS. In addition, Rackley provides free training and technical …
Prudential HealthCare has drawn a $200,000 fine for slow payment of claims from Georgia Insurance Commissioner John Oxendine. The state’s prompt-payment rule requires health insurers to pay a clean claim to a doctor or hospital within 15 working days of …
A state Senate panel voted May 3 to bar California’s insurance commissioner from ever again allowing insurance companies to avoid fines by contributing to nonprofit foundations. The Senate Insurance Committee approved by an 8-0 vote to submit a bill to …
Finding out who’s in charge of regulating the Internet reminds me of my youth. Mom would always wait until we were all at the dinner table and then she would spring the question. “Who put the hole in the wall?” …
Sure, independent agencies offer a choice of markets. That’s a nice benefit. But it also means you must key in customer information more than once in different formats and screens to accommodate the various companies. Add to that the agency …
Recently, in March 2000, Aetna, the nation’s largest health insurer, was criticized for participating in slave insurance 150 years ago. Aetna apologized and expressed its “deep regret” over participating in this “deplorable practice.” THE QUESTION Obviously, slavery was a deplorable …
The Independent Insurance Agents of Texas’ annual convention kicks off June 8-10 at the Wyndham Anatole Hotel in Dallas. The opening day will include a full lineup of innovative and practical workshops presented by nationally recognized experts. Young insurance professionals …
Large commercial insurance agencies, issuing perhaps tens of thousands of certificates of insurance per year, often face a dilemma: how can the process be made more efficient and effective? However, technological developments over the past few years have resulted in …
