insurance industry

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Pandemic Results in Record Life Insurance Payouts

Also, 15% year-to-year increase is biggest since 1918 influenza epidemic

(Newser) - The life insurance industry was forced to hand out more money in death-benefit payments in 2020, otherwise known as the start of the COVID-19 pandemic, than in any other single year—though 2021 has probably been worse, reports the Wall Street Journal . Death-benefit payments from US life insurers totalled $90....

Surgeons Are the Most Accident-Prone Drivers
Surgeons Are the Most Accident-Prone Drivers
STUDY SAYS
Sep 2, 2014 8:54 AM CDT

Surgeons Are the Most Accident-Prone Drivers

Medical workers are involved in a lot of wrecks, study suggests

(Newser) - People who spend much of their working lives stitching up accident victims are among those most likely to cause car accidents, according to a startling new study from Britain. The analysis commissioned by financial services firm Moneysupermarket.com found that surgeons were the most likely to file an at-fault claim—...

Romney White House Gives Health Insurers Fits

Industry could fave upheaval if he repeals ObamaCare

(Newser) - CEOs of big health insurance companies are surely salivating for a Mitt Romney presidency, right? Not necessarily, the AP reports. Though the insurance industry is no big fan of certain parts of ObamaCare, it has invested tens of millions preparing for it—and it stands to make scads of dollars...

States Suspect Life Insurers Are Screwing the Dead

Some ignoring information showing policy holders are dead

(Newser) - Dozens of states are investigating the possibility that major insurance companies have been less than conscientious about paying out life insurance benefits for their dead customers. The investigations began when 35 states signed up for an auditing firm’s offer to look for unclaimed life insurance benefits that could be...

EU to Women: Sorry, No More Cheaper Car Insurance

Insurance firms ordered to stop sex discrimination

(Newser) - European women will no longer enjoy cheaper car insurance because of their sex's safer driving habits. A European Union court has made it illegal for insurance companies to base premiums on gender-based risk assessment, CNN reports. Millions of women drivers, who previously enjoyed car insurance up to 50% cheaper than...

Do You Have Alien Insurance?
 Do You Have Alien Insurance? 
Wacky Policies
Sep 19, 2010 4:57 PM CDT

Do You Have Alien Insurance?

Behold the 5 weirdest insurance policies ever sold

(Newser) - Sure, you’ve got health insurance, car insurance and homeowner’s insurance, but do you have alien abduction insurance? One company actually offers such coverage, and it’s the top entry on Asylum ’s list of the wackiest policies ever devised. Here’s the list:
  • Immaculate Conception: Three
...

Obama to Insurers: Don't You Dare Jack Premiums

Parts of health care reform kick in

(Newser) - With parts of the health care reform law about to go into effect, President Obama has called executives from 13 leading insurers to Washington for a stern lecture about rate gouging. Obama is afraid the insurers will use the law as an excuse to jack up premiums. “Our message...

10 GOP Ideas for Health Care Reform
 10 GOP Ideas for 
 Health Care Reform 
OPINION
Feb 10, 2010 7:54 AM CST

10 GOP Ideas for Health Care Reform

Newt Gingrich, John Goodman answer Obama's challenge

(Newser) - Newt Gingrich and economist John C. Goodman have responded to President Obama's challenge for Republicans to show him a better idea on health care reform with 10 ideas. Here's what they list in the Wall Street Journal.
  • Make insurance affordable. This could be done by reforming the "arbitrary and
...

Senate Finally Confirms Surgeon General

Republicans relent after weeks of procedural delays

(Newser) - The Senate unanimously confirmed Regina Benjamin as US surgeon general yesterday after Republicans ended a procedural delay that had dragged on for several weeks. Mitch McConnell and seven other GOP senators said they stalled because of an administration “gag order” that prevented insurers from giving their opinions on the...

Health Industry Shakedown Imperils Reform
Health Industry Shakedown Imperils Reform
OPINION
Oct 19, 2009 3:32 PM CDT

Health Industry Shakedown Imperils Reform

Obama must ignore lobbyists for insurers, doctors, drug makers

(Newser) - In dealing with pharmaceutical companies, insurers, and the AMA, President Obama should take a page from David Letterman's book and not fall prey to blackmail, writes former Labor Secretary Robert Reich. Promises the administration made to those three constituencies in exchange for staying neutral or positive about health care reform...

Dems Lash Out at Insurance Industry

They move to eliminate anti-trust exemption

(Newser) - All-out war broke out between the Democrats and the insurers today, with Chuck Schumer calling for an amendment to the health care bill that would remove the industry’s long-standing anti-trust immunity. Schumer called the exemption “one of the worst accidents of American history,” blaming it in part...

Guess What, Sarah? Those 'Death Panels' Already Exist ...

... they're being run by insurance companies

(Newser) - Sarah Palin thinks health care reform will bring with it “death panels,” collections of bureaucrats who will ration care, deciding whose life is and isn’t worth saving. The flaw in that logic? “That’s not the future of health care—it’s the present,” writes...

Health Industry Rains Cash on Blue Dog Dems

(Newser) - The Blue Dogs—the 52 fiscally conservative Democrats who have been fighting to kill health care reform proposals the industry doesn’t like—receive far more money from that industry than their non-coalition-member counterparts, the Washington Post reports. The reform push has been a boon for the lawmakers' ledgers; the...

Health Care Needs a Real Free Market
Health Care Needs a Real Free Market
OPINION
Jul 29, 2009 10:36 AM CDT

Health Care Needs a Real Free Market

But it's a scary idea, to consumers and politicians alike: Klein

(Newser) - America’s best shot for a new, better health care system lies in a strong health care exchange, argues Ezra Klein in the Washington Post. “Compared with the crazy-quilt system we have now, the idea is weirdly simple:” A single market where consumers can shop for plans and...

If Health Care Push Fails, Blame Dems
If Health Care Push Fails, Blame Dems
OPINION
Jun 22, 2009 10:48 AM CDT

If Health Care Push Fails, Blame Dems

Public wants a public option; why do 'centrists' oppose it?

(Newser) - Now ought to be a good time to reform health care. With costs up and coverage down, polls show the public overwhelmingly favors change. Unfortunately, “a handful of Democratic senators are still determined to party like it’s 1993,” writes Paul Krugman of the New York Times. These...

Universal Health Care Plan Looks Likely

Compromise bill may include an 'Orbitz for insurance'

(Newser) - Barack Obama's overhaul of the American health care system is quietly taking shape, and Democrats and Republicans both say a consensus plan looks likely. Politico reports on what the health reform bill, which must be passed by August, might look like: Guaranteed insurance for all Americans, who will probably be...

Liddy to Leave AIG
 Liddy to Leave AIG 
May 21, 2009 4:28 PM CDT

Liddy to Leave AIG

(Newser) - AIG chief Edward Liddy is stepping down after eight months on the job, the Wall Street Journal reports. The government appointed Liddy chairman and CEO last fall after the feds bailed out the insurance giant. Liddy recommended splitting the job into two roles and will remain until his replacements are...

Big Life Insurers Will Get TARP Funds

(Newser) - Now that the banks' stress tests are done, it's on to the insurance industry. The Treasury Department said today it will give TARP funds to the nation's biggest life insurers, the Washington Post reports. Hartford Financial has been given preliminary approval to receive $3.4 billion, and as-yet unspecified amounts...

AIG's 2008 Bonus Pool Rises to $454M

Company gives congressman the biggest figure yet

(Newser) - Lawmakers and journalists keep pressing AIG about how much it paid out in bonuses in 2008, and the number keeps getting bigger, reports Politico. In response to a query from Rep. Elijah Cummings, the company now says it paid $454 million, about 4 times the figure it told Politico in...

Buffett Has Worst Year Ever
 Buffett Has Worst Year Ever 
Feb 28, 2009 10:11 AM CST

Buffett Has Worst Year Ever

(Newser) - Not even legendary investors can escape this mess. Warren Buffett’s Berkshire Hathaway posted its worst year ever in 2008, the Wall Street Journal reports. A key indicator, book value per share, fell 9.6%, only the second loss since Buffett took control of the company in 1965. Berkshire reported...

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