Finance Blog - Everything one needs to know

Nearly half of U.S. employees and retirees are unsure of how they would cover expenses in the event of their death or that of a spouse. One quarter of those surveyed said they would rely on selling investments and withdrawal from personal and retirement savings to manage finances related to the death of a loved […]

Hurricane Gustav could cost insurers as much as $10 billion, making it one of the 10 most expensive U.S. storms ever, according to estimates from catastrophe-modeling firms and insurance-industry analysts.
However, that won’t be enough to reverse sliding prices across the industry, several such experts said Tuesday.
Gustav hit land roughly 70 miles southwest of New Orleans […]

Kotak Life Insurance on Thursday announced the reduction in the cost of its normal term plan by 34 per cent and by 18 per cent on its preferred term plan. As a result, a sum assured of Rs 10 lakh for 25 years for a 30-year-old person would now cost only Rs 3,180, down from […]

A revised draft of the proposed National Social Health Insurance is now ready and will soon be presented to the Cabinet for approval, the Medical Services minister has said.
Prof Anyang’ Nyong’o said contributors to the scheme will be expected to pay between Sh40 and Sh2,000 per month depending on their income levels. Read […]

An insurance company is not liable to pay a third-party insurance to the driver of the vehicle which it has insured, the Bombay High Court held in a case recently. Read more
Courtesy: economictimes.indiatimes.com

Florida workers-compensation insurance rates may drop for a sixth year in a row.
The National Council on Compensation Insurance has filed a request with the Florida Office of Insurance Regulation to reduce rates by an average 14.1 percent throughout the state.
Read more
Courtesy: www.orlandosentinel.com

FGIC Corporation, the parent company of Financial Guaranty Insurance Company (FGIC), today announced that FGIC has entered into a master agreement with MBIA Insurance Corporation (MBIA). Upon closing of this transaction, FGIC and MBIA will enter into a reinsurance agreement under which MBIA will reinsure certain policies covering approximately $184 billion of FGIC’s U.S. public […]

The California Department of Insurance wants Golden State drivers to drive less, save money and save the planet, all at the same time.
Insurance Commissioner Steve Poizner said Wednesday he’s planning to make a new green automobile insurance option, known as “pay-as-you-go,” available to California drivers as early as the fall of next year by proposing […]

Alabama, pushed to third in U.S. obesity rankings by high-fat, high-carbohydrate foods, is cracking down on state workers who are overweight.
The state has given its 37,527 employees a year to start getting fit — or they’ll pay $25 a month for insurance that otherwise is free.
Alabama will be the first U.S. state to impose a […]

Most Americans have auto insurance, health insurance, dental insurance, homeowners or renters insurance, life insurance, maybe disability insurance.
Enough insurance already, right? Why shell out for umbrella liability insurance, especially in an economic crunch when every little payment stings more than usual?
It may make sense, especially if you have significant assets. Experts call this umbrella […]