insurance

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1 in 3 US Households Has No Life Insurance

Coverage of middle-class families wanes

(Newser) - As increasing financial pressure bears down on middle-class families, ever more are cutting life insurance from their household budgets. About 35 million US households, almost a third, now have no life insurance whatsoever, up from 24 million households in 2004. Many households have recently lost employer-sponsored coverage due to layoffs...

10 Ridiculous iPhone Insurance Claims

'I buried it in the garden.' Um, really?

(Newser) - Most iPhone owners are so addicted, they take the gadgets everywhere—which may explain how so many get dropped into toilets or, you know, blenders. Yes, that’s how one guy claims his broke, but it’s not the most bizarre story insurance firms have ever heard. Online insurance company...

Gulf Oil Spill Will Rock Insurers

Billions in environmental-related damages expected

(Newser) - Fishermen and environmentalists aren't the only ones casting a worried glance at that oil spill in the Gulf. Add insurance companies to the list. Estimates are flying around: $7 billion for final cleanup, $2.5 billion for Louisiana's fishing industry, $3 billion for Florida's tourism industry, and billions more to...

Celebrity Body Parts and Other Wacky Insurance Policies

 Celebrity Body Parts and Other 
 Wacky Insurance Policies 
Klum's Legs, J-Lo's Butt
Mar 18, 2010 12:08 PM CDT

Celebrity Body Parts and Other Wacky Insurance Policies

Dolly Parton's boobs are insured for a cool $600K

(Newser) - Health insurance may be the topic of the day, but it's so boring. The Business Insider takes a look at the wacky side of the industry, which mainly includes celebs insuring their body parts for millions of dollars. And some extraterrestrial stuff. Here goes:
  1. Heidi Klum's legs: The model's right
...

State Farm Cancels Policies on Florida Coast

125K are losing coverage in middle of hurricane season

(Newser) - State Farm, Florida’s top home insurer, is ditching 125,000 of its coastal customers this year—right in the middle of hurricane season. The cancellation notices will start flowing this week, informing residents that they’ll be unprotected starting Aug. 1, NBC News reports. State Farm says it’s...

Straighten Out Your Finances in 2010
 Straighten Out 
 Your Finances 
 in 2010 
resolutions
Jan 3, 2010 4:53 PM CST

Straighten Out Your Finances in 2010

Some simple moves can net $1K or more

(Newser) - On the eve of the first serious workday of the New Year, take a hard look at your finances and see where you can cut back in 2010. A relatively small investment in time can result in some serious savings, Kathy Kristof writes for the Los Angeles Times :
  • Save automatically:
...

So Much for 'Tough' Reform: Insurance Stocks Soaring

Good job standing up to the special interests, Barack

(Newser) - Barack Obama praised the Senate yesterday for “standing up to the special interests who prevented reform for decades,” which seems pretty laughable, given that health care stocks soared on the news. Evan Bayh’s wife, for example, has made up to $250,000 over the last six weeks...

AIG's Benmosche: I'm Not Quitting

CEO is 'committed' to firm's employees

(Newser) - AIG CEO Robert Benmosche isn’t fed up with running a government-controlled insurance giant after all: Backing away from his threat to quit, Benmosche said today that he remains "totally committed” to the company. The CEO conceded, however, that he and the board “are indeed frustrated” with the...

Ousted AIG CEO Builds AIG 2— With AIG Talent

Greenberg's new insurer poaches AIG employees at taxpayers' expense

(Newser) - Hank Greenberg built AIG into a $1 trillion behemoth that needed the biggest bailout in history—but quietly, the former CEO has begun a new insurance company, CV Starr, that is poaching some of AIG's leading talent. He just got an unintended assist from the Treasury: Tough new pay rules...

AIG Chief: Pay Czar's Authority 'Limited'

He tells employees they won't lose salaries retroactively

(Newser) - Ken Feinberg won’t take your money, AIG’s chief executive told his employees yesterday. Hours after reports broke that the pay czar would be targeting the troubled insurance firm with salary caps, CEO Robert Benmosche sent a memo reassuring employees that “the Special Master's jurisdiction is quite limited,...

Health Reform's New Frontline: Abortion

(Newser) - We've had the birthers, the deathers, and now here come the right-to-lifers to cast their two cents on the health reform debate, reports the Wall Street Journal. Democrats are bracing for protests from anti-abortion advocates, who are preparing a major push against what they call taxpayer subsidies for pregnancy termination....

Health Care Bills Don't Offer Real Choice
Health Care
Bills Don't Offer
Real Choice
ANALYSIS
Aug 26, 2009 1:22 PM CDT

Health Care Bills Don't Offer Real Choice

Legislation in Congress seem to settle for status quo

(Newser) - Health insurance firms are essentially monopolies because employers, not individuals, choose which plans to offer. This freedom from competitive forces has allowed insurance to become flaky and opaque—and the reform currently being debated in Washington would do little about it, writes David Leonhardt for the New York Times. Even...

German Airline Offers 'Sunshine Insurance'

Lufthansa to pay out if it rains at travelers' destinations

(Newser) - The German airline Lufthansa is offering “sunshine insurance” as an incentive for travelers to book tickets in the fall, Stars and Stripes reports. For travel in September in October, the airline will pay passengers 20 euros for every day that it rains more than 0.2 inches at the...

Hybrid Owners Have More Accidents, Get More Tickets

Environmentally-conscious motorists also drive more, study says

(Newser) - Owners of hybrid vehicles tend to drive more, have higher repair bills, and get more tickets than their gas-guzzling counterparts, the Car Connection reports. A study of the behavior of 360,000 motorists found insurers pay 17% more for comprehensive coverage of hybrid owners compared to owners of conventional models....

One Man to Blame at AIG
 One Man to Blame at AIG 
GLOSSIES
Jul 7, 2009 7:31 PM CDT

One Man to Blame at AIG

(Newser) - AIG’s contribution to the world financial crisis may be bafflingly complex, but a single villain is emerging, writes Michael Lewis in Vanity Fair. Joseph Cassano was a "cartoon despot" who ran AIG's Financial Products division, now infamous for its credit-default swaps. Cassano, unfortunately, "didn’t fully understand...

Jacko's Death Could Cost Comeback Promoter Millions

Star's death may invalidate insurance on 50-gig London comeback

(Newser) - Michael Jackson's death will be either "horrible or really horrible" for the promoters who set up his 50-concert comeback, depending on how watertight their insurance is, industry insiders tell Billboard. AEG Live has already paid out an estimated $30 million in production costs, as well as a $10...

Global Insurance Fraud Floods N. Korea with Cash

 Global Insurance Fraud 
 Floods N. Korea with Cash 
INVESTIGATION
Jun 18, 2009 6:54 AM CDT

Global Insurance Fraud Floods N. Korea with Cash

North Korean leader profits personally from fires, disasters

(Newser) - North Korea has collected hundreds of millions of dollars from global insurance giants on often suspicious claims of fires, floods, and other disasters, according to a Washington Post investigation. While insurers have kept mum about their losses, US officials and Korean defectors describe a sophisticated fraud that has provided Kim...

AIG Dodges Insurance Claims from Hudson Flight

Insurer accused of using goodwill towards flight crew to dodge paying up

(Newser) - Passengers from US Airways Flight 1549 are having a tough time getting its insurer, AIG, to cough up for claims, the New York Times reports. Aviation liability insurance requires a finding of negligence. But Capt. Chesley Sullenberger and his crew were universally acknowledged to have performed amazingly well in saving...

Banks Use Worker Life Insurance to Pay Exec Bonuses

Dead employees keep on giving

(Newser) - Former employees of the big banks often end up handing the bosses a final reward when the workers die, the Wall Street Journal reports. The banks have taken out life insurance policies on hundreds of thousands of workers, and the tax-free death benefits are used to finance executive compensation and...

Piracy Jacks Up Insurance, Fuel Costs

Entering high-risk areas or navigating around South Africa both add millions

(Newser) - Piracy in the Gulf of Aden is driving up shipping costs as companies are forced to choose between paying higher insurance or taking longer routes, the AP reports. Premiums have reportedly risen at least tenfold for travel near the Somali coast, and avoiding the Gulf of Aden by navigating around...

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