In a victory for President Barack Obama, the Democratic-controlled House narrowly passed landmark health care legislation Saturday night to expand coverage to tens of millions who lack it and place tough new restrictions on the insurance industry. Republican opposition was nearly unanimous.
The 220-215 vote cleared the way for the Senate to begin debate on the issue that has come to overshadow all others in Congress.
A triumphant Speaker Nancy Pelosi likened the legislation to the passage of Social Security in 1935 and Medicare 30 years later. Read the rest of this entry »
AM Best has released the 2009 review of the excess & surplus lines (E&S) insurance market, called 2009 Special Report, U.S. Surplus Lines – Market Review. The annual review is conducted by AM Best from a grant provided by the Derek Hughes/NAPSLO Educational Foundation and has been produced annually for a number of years. The review notes:
- Market competition has driven both premiums and profitability down
- Surplus lines premium totaled $34.4 billion in 2008, while the entire property/casualty insurance industry premium totaled $493 billion
- Read the rest of this entry »
Like any industry, the life insurance business has a few bad apples. Many unscrupulous life insurance agents or brokers will attempt to convince you to cancel your existing policies and replace them, merely to pad their wallets with a commission cheque. Before replacing an existing life insurance policy with a new one, ask yourself six questions:
- Are the two forms of coverage truly comparable? Permanent policies have premiums guaranteed to never increase, but the initial premium will likely be higher than the more attractive premium on a new term policy. On the other hand, the term policy premium will increase on renewal as you get older. Read the rest of this entry »
In a victory for President Barack Obama, the Democratic-controlled House narrowly passed landmark health care legislation Saturday night to expand coverage to tens of millions who lack it and place tough new restrictions on the insurance industry. Republican opposition was nearly unanimous.
