Archive for June, 2008


More states say cellphones and driving don’t mix

SAN FRANCISCO - On July 1, California will become the largest state to ban unlimited cellphone use by drivers. The law prohibits drivers under 18 from talking on the phone, and it requires older drivers to use a hands-free headset.

A similar law goes into effect the same day in Washington …

Search engine leads for health insurance agents

Top producers now have a simplified method for nurturing a steady flow of high-quality Internet health leads. 
ROUND ROCK, TX – June 14, 2008 – ASAP Quotes, the #1 source for high-quality exclusive health insurance leads has launched a redesigned website, to provide more information for agents, brokers and producers …

When Does a Life Settlement Make Sense?

A Life Settlement is the sale of a life insurance policy to a third party. The emerging life settlement industry has grown rapidly over the last decade and continues to grow. In the past, if the owner of a life insurance policy no longer desired to keep their policy, the …

Hurricane Center director talks forecasting in interview

MIAMI (AP) — Substantially improving the accuracy of hurricane intensity predictions could take years and tens of millions of dollars, the National Hurricane Center’s director said Tuesday.
In an interview with The Associated Press, Bill Read said reducing by half the errors made in tasks such as determining whether a storm …

New AMA President Says She Will Use Position ‘To Let The Nation Know That We Must Cover America’s Uninsured’

American Medical Association President Nancy Nielsen last week during her inauguration speech at the annual meeting of the group promised to use “all of the power” of her position and the group “to let the nation know that we must cover America’s uninsured,” the Chicago Tribune

AIG Investments & Highstar Capital Announce Sale of Interests in InterGen

NEW YORK, June 24 /PRNewswire-FirstCall/ — AIG Investments and Highstar Capital (Highstar) today announced that AIG Highstar Capital II, L.P. (AIG Highstar II) and certain of its investment affiliates have agreed to sell their 50% ownership interest in InterGen N.V. (InterGen) to GMR Infrastructure Limited (GMR), one of India’s leading …

Legislation to Promote Stronger Buildings Will Save Lives, Money

WASHINGTON (June 24, 2008) – Legislation adopted today by the House Financial Services Committee is key to preventing loss of lives and property during natural catastrophes, according to the National Association of Mutual Insurance Companies (NAMIC). The proposal provides federal funding to encourage and enforce stronger building codes at the …

Lightning Strikes – Again and Again

Lightning Claim Costs Continue to Increase, Causing Nearly $1 billion in Insured Losses, I.I.I. Study Finds
They say that lightning never strikes in the same place twice, but for insurers it strikes hundreds of thousands of times annually, causing millions of dollars in damage. In fact, the cost of homeowners’ claims …

AllFinancial Group LLC and Babcock & Brown Obtain $135 Million in Additional Financing for Life Settlement Joint Venture

AllFinancial Group LLC andBabcock & Brown are pleased to announce that Life Trade Holdco LLC, theirrecently formed joint venture to capitalize on emergingopportunities in the life settlement market, has obtained a $135 millioncredit facility from Autobahn Funding Company, LLC, an asset backed commercial paper conduit sponsored by DZ Bank AG …

Prudential Financial spent $1.4M lobbying in 1Q

WASHINGTON (AP) — Insurance company and investment manager Prudential Financial Inc. spent nearly $1.4 million in the first quarter to lobby on pension, insurance and trade issues.
The Newark, N.J.-based company also lobbied on legislation dealing with housing, farm spending, data privacy, genetic discrimination, life and terrorism insurance, and trade with …