Teacher Health Insurance Lacking in Oklahoma
Posted on July 20th, 2011
Oklahoma health insurance for teachers has always been a hot topic, but recently in Oklahoma City, a budget was approved to only fund teachers’ health insurance for 10 months out of the year, rather than a full 12. The Oklahoma Board of Education claims they have voted to fully fund teacher’s health insurance but the missing two months means a lot to the teachers receiving the health insurance.
This is apparently a measure to save money, and the Board feels they are fully funding the teachers for the months they work. District officials are estimating that health benefits throughout Oklahoma will be about $33 million short of the funding required to offer quality health insurance benefits to state teachers. Tim
PayPal to Launch Mobile Payments By Summer
Posted on July 19th, 2011
Not many companies are doubling their business estimates for the next year, but PayPal has done just that by projecting a 100 percent upside for mobile payments. It pushed the gas even harder this week by saying it plans to offer near-field communications-based mobile payments. Near-field communications is a short-range wireless connectivity standard that enable communication between devices that are brought within a few centimeters of each other.
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PayPal’s new technology was demonstrated Wednesday at the MobileBeat 2011 conference in San Francisco by Laura Chambers, PayPal’s senior director of mobile. A
Tags: Mobile Payments, Payments
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Readying States for Health Exchanges
Posted on July 16th, 2011
As insurers ask themselves whether they want to participate in Patient Protection and Affordable Care Act health insurance exchanges, individual states are moving forward, setting up the exchanges and vendors, such as CGI Group Inc., are designing products for the undertakings.
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CGI unveiled CGI Health Insurance Exchange360, a suite of business, technology and consulting services designed to help states launch their online insurance marketplaces before the 2014 deadline.
Tags: Exchanges
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P&C Insurers Suffer Through Q2 2011
Posted on July 14th, 2011
Catastrophes have wreaked havoc on P&C insurers’ Q2 earnings. Major losses from tornadoes, other bad weather and earthquakes have eliminated earnings for many, reports Keefe, Bruyette & Woods (KBW). The investment bank, which specializes in the financial services sector, is cutting estimates for a significant number of its insurers and reinsurers as losses mount from several tornadoes and other bad loss events.
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Combined with RMS model changes, these loss events—including New Zealand and Japan earthquakes—are increasing awareness among underwriters of growing risk exposures. Most
Tags: Insurers, Pc Insurers
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Alabama Health Insurance Rates Under Scrutiny
Posted on July 14th, 2011
Alabama health insurance rates continue to be one of ten states that do not have authority or the resources to regulate health insurance rates effectively. Because of this, larger health insurance rate increases will be subject to federal review starting September 1st. The article “Health Insurance Premiums in Alabama to Come Under Federal Review” by Stan Diel for The Birmingham News gives some of the details.
The Centers for Medicare and Medicaid Services will start taking a closer look at health insurance rates that have increased more than 10% for individual and small group health insurance plans throughout Alabama. The
Tags: Health Insurance, Health Insurance Rates, Insurance Rates, Rates
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Effects of Non-Modeled Risk Not Understood: Aon Benfield
Posted on July 12th, 2011
Catastrophic losses in the first quarter and Solvency II are driving the need for insurers to boost their understanding of non-modeled perils, according to Aon Benfield, a global reinsurance intermediary and capital advisor of Aon Corp.
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Of the many illustrations of why insurers need to better understand how non-modeled perils could impact their portfolios, Aon Benfield points to the tsunamis generated by the Japan and Chile earthquakes, plus the disruption caused by the Icelandic and Chilean volcanic eruptions.
Tags: Aon Benfield, Benfield
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