It's health insurance that private insurance companies sell to help fill gaps in what the Original Medicare Plan covers. Medigap policies are also known as "Medicare Supplement Insurance." Medigap policies pay most - if not all - of the costs for coinsurance and co-payments under the Original Medicare Plan. These...
The first type of permanent life insurance that we look at is universal life insurance. Universal life insurance is also called adjustable life insurance. Remember that, with permanent life insurance, some of your premium is invested. This article also explains some features of universal life which includes Flexible premiums, Cash...
Until now, inside and outside directors were covered by identical D&O insurance. Many policies create worries among independent directors are that their personal assets may be at risk in this scenario of bankruptcies. Insurers say they have a solution. When certain losses are not indemnified, or paid by other D&O...
Homeowners insurance represents the first multi-line policy sold in the United States. It was a combination of the fire, extended coverage, theft, personal liability, and medical policies, which had all been sold separately before. The Insurance Company of North America is given credit for filing the first homeowners policy, in...
The question of whether there is coverage under an insurance policy often depends upon the way that the particular policy provision is drafted. Because the policy will be construed in favor of coverage, in the event the provision is vague, the need for careful policy drafting cannot be overemphasized. However,...
If there is a merger or acquisition in the company’s future, getting the appropriate carriers on board as early as possible is vital, especially when negotiating run-off coverage. Although it is usually easier to negotiate run-off with the carrier on the expiring policy. Understanding the composition and language of the...
This paper discusses the standard business and homeowner policies which will cover wind damage from Hurricane Lili. However, such policies do not cover damage from flooding. Flood damage is covered under policies written by the National Flood Insurance Program or by "Write-Your-Own" insurers. Losses will be adjusted and claims paid...
The article talks about the Separation of Insureds condition, applied to all insureds under the policy. It does not set up, in effect, an individual policy for each insured. But it stipulates that the policy's insurance will apply "separately" to each insured seeking coverage under the policy. The practical consequence...
There is wide variation in the scope of coverage provided by extended reporting period ERP endorsements within claims-made policies. One often-overlooked but critical variation is whether the policy's discovery provision is operative during the period covered by the ERP. A discovery provision in a claims-made policy allows an insured to...
Buying something tangible — a shirt for example — is usually not a stressful decision. Either you like it or you don't. And you can always take it back. Buying a life insurance policy, however, is a different story. Once you sign a contract, you may only have a few...
This article briefs about the Closed Books policies and its current position in the Life insurance market. Closed Books are policies that are no longer sold but are still on the books of a life insurance carrier as premium-paying policies. The hardware and application maintenance costs for the systems that...
Enables Integration to their Client's Web Sites to Support Client's Business Processes BEDFORD, Mass. -- Progress Software Corporation (NASDAQ: PRGS), a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications, announced today that McCamish Systems, a premier supplier of Business Processing Outsourcing...
Federal prosecutors filed a civil complaint against former McAlester state Sen. Gene Stipe Monday, alleging that Stipe engaged in the insurance business after being convicted of a felony involving dishonesty or breach of trust. U.S. Attorney Sheldon Sperling said that from February 2004 through most of October...
CSC to Support 100,000 Life & Annuity Policies Following Americo's Acquisition of FIC FALLS CHURCH, Va., July 29 /PRNewswire/ -- CSC today announced that Americo of Kansas City, Mo., has signed a 15-year contract for CSC's business process outsourcing BPO services. Under the contract, CSC will...
NEW YORK -- Thacher Proffitt & Wood LLP announced today the publication of "Update: FDIC Board Approves Final Covered Bond Policy Statement," a Banking and Finance bulletin. As background, on July 15, 2008, the Board of Directors of the Federal Deposit Insurance Corporation ("FDIC") approved a final statement...
Large U.S. banks join together to support development of a U.S. covered bond market to supply stable mortgage funding WASHINGTON, July 28 /PRNewswire/ -- In a joint statement today, Bank of America, Citi, JPMorgan Chase and Wells Fargo announced their support for two recent regulatory efforts taken...
NEW YORK, July 28 /PRNewswire/ -- Banc of America Securities LLC, the broker-dealer and wholly owned subsidiary of Bank of America Corporation, today announced its support for the development of a covered bond market in the United States. (Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b ) The support follows...
July 15 and September 15 Arizona Corporation Commission Candidates to Debate Issues that Impact all Arizona Citizens on Modavox's Live Webcast PHOENIX -- Modavox, Inc. (OTCBB:MDVX), Internet broadcasting pioneer and holder of several patented technologies today announced that it has solidified an agreement with the...
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