South Dakota News

Real Benefits Assoc. Told to Stop Selling Insurance in South Dakota

South Dakota Insurance Division Director Merle Scheiber has ordered a company offering medical benefits insurance plans in the state to stop the practice. A temporary cease and desist order has been issued against Real Benefits Association by the South Dakota …

Midwest Farmers Say Federal Risk Management Program Too Complex

Farmers from across the Midwest told a U.S. House committee that a crop risk management program introduced in the 2008 farm bill is a good tool but it’s way too complex. The Average Crop Revenue Election program provides revenue support …

Business Moves

Western National, American Mutual Western National Insurance Group of Edina, Minn., plans to affiliate with Wisconsin American Mutual Insurance Co. of Fond du Lac, Wis. The transaction is expected to close before fall 2010. Wisconsin American is expected to continue …

New Markets

The following markets were selected from the MyNewMarkets database of 25,000 coverages and programs. To find additional markets, or to submit markets, go to www.MyNewMarkets.com. Allied Health and Medical Pros Market Detail: CRES Insurance Services MedSurance A&M is an insurance …

Midwest’s Sunflower Industry Happy With Crop Insurance Rule

Officials in the sunflower industry who fought for years to gain better crop insurance say final rules for a simplified insurance plan might mark the end of the battle. It should mean better security for farmers, and possibly a more …

Midwest Economic Index Slips But Still Positive on Growth

A Midwest regional business conditions index slipped last month but still suggests a growing economy in the months ahead. A report on the Midwest Business Conditions survey of supply managers and business leaders in a nine-state region was released May …

Declarations

Lawsuits and Criminal Convictions “We disagree with Mr. Castaneira’s version of the events alleged in this latest complaint. … The record regarding Mr. Castaneira’s prior lawsuits and criminal conviction speaks for itself.” —South Dakota-based Midland National Life Insurance Co. issued …

Western National Insurance Sees Rise in Surplus in Q1 2010

Western National Insurance Group in Edina, Minn., reported $5.5 million increase in policyholder surplus during the first quarter of 2010 over the amount reported at the end of 2009, as well as a 4 percent rise in the company’s combined …

Western National Insurance Affiliates with Wisconsin American

Western National Insurance Group of Edina, Minn., recently announced plans to affiliate with Wisconsin American Mutual Insurance Co. of Fond du Lac, Wis. The transaction is expected to close before fall 2010. It is anticipated that Wisconsin American will continue …

Convicted Kidnapper of South Dakota Insurance Executive Sues Insurer

Eric Castaneira, who went to prison in for kidnapping an executive at South Dakota-based Midland National Life Insurance Co. in 1991, has filed a lawsuit seeking more than $500,000 from the company, plus punitive damages that would be given away. …