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A global leader in insurance and reinsurance serving a diverse group of clients. Headed by ACE Limited, the ACE Group conducts its business on a worldwide basis with a physical presence in 53 countries.
Obamacare: Exchanges and new insurers
The Obama administration says the exchanges — designed to
help control medical care costs — are adding new insurers not
found in states before now.
Many of the exchanges required by the Patient Protection and
Affordable Care Act will be run by the federal government.
Most states opted out. Just 15 will run their own and 35 will
have the federal government do it for them. A few of those are going to partner with the federal government on theirs.
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Your health insurance company may owe you money
In 2012, health insurance companies sent small businesses $321 million in rebates. In California, tens of millions more are on the way, according to the Los Angeles Times. The money comes from a little-known piece of Obamacare meant to keep premiums in check. In all the talk about death panels, mandates and insurance exchanges, it's easy to miss how the Affordable Care Act tries to limit health insurance premiums.
The 6 ways Obamacare changes insurance premiums
The Washington Post
Perhaps it's worth simplifying this discussion about premiums under Obamacare a bit. This whole conversation is about the individual insurance exchanges, which effectively replace today's individual market — and have nothing to do with the insurance offered by Medicare, Medicaid or employers. If all goes well, a bit less than 10 percent of the population will get insurance through these exchanges by 2023. In 2014, however, only about 2.5 percent are expected to be in the exchanges.
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Saying 'I Do' to wedding insurance
In 2012, Natalia Esparra, then 34 and a new bride, learned that something had gone wrong with her photographer's memory card and that all of her wedding photos had disappeared. Three recovery companies looked at the memory card, the backup hard drive and the laptop, but only 98 photos — none with the wedding party in them — were salvaged.
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Oklahoma's tornado woes
Oklahoma's Department of
Insurance recently said that
more than 22,000 claims have
been filed for the string of
tornadoes that hit the state
May 19 and 20. They covered
16 counties and destroyed
1,248 buildings. In Moore,
Okla. — where the most destruction was recorded — the average home price of
the homes destroyed range from $150,000 to $200,000. Payments on the claims by insurers as of last report hit $85 million. That will climb.
Middle income and the No. 1 health concern
Middle income Americans worry more about
cancer than any other disease. Or so says the
Washington National Institute for Wellness
Solutions. Their study looked at people 30
to 66 with incomes between $35,000 and
$99,999. Health concerns were in order.
Statistics: Hurricane season
The hurricane season officially
started June 1.
The National Oceanic and
is predicting a fairly
active hurricane and tropical
storm season. The NOAA thinks
there will be somewhere
between 13 to 20 named
storms. There is a big chance
that seven to 11 of them will
turn into hurricanes. Three to six will turn into category 3, 4 and 5 storms.
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The basics of business interruption coverage and having the right limit
By Curtis M. Pearsall, President, Pearsall Associates Inc.
Most commercial customers should have business interruption
coverage, yet judging by some industry articles on Superstorm
Sandy, that issue may be debatable. One article cited a survey
from a national carrier stating that only 30 percent of the small businesses in New
Jersey had business interruption coverage, and only 10 percent had coverage for off-premises
Reinsurers in US, an excellent 1st quarter
The Reinsurance Association of
America said the first quarter of
2013 was pretty good. Net income
doubled to $3.4 billion. That's up from
$1.5 billion in the first quarter of 2012.
The net underwriting gain was $1.2
billion. That beats the $69.3 million
loss of the first quarter of last year.
Net underwriting gains are the
Update: The farm bill
Montana Sen. Max Baucus is retiring in 2014. He told a group of Montana farmers the
farm bill now being debated by Congress is a
top-priority for him before he retires.
His reception was less than positive.
Retirement: Times are changing
We all look forward to that day
when the daily grind disappears
and our lives are our own. The
current term for that state of being
is "retirement." Gallup gathered
some retirement statistics and
asked a few people close to
retirement some questions.
Your company wellness program: Is it working?
There are 500 workplace wellness vendors in
the United States. Combined sales for their
industry is $6 billion a year. Here's why. Of the
employers in the country with 50 or more
workers, 51 percent of them offer a wellness
That is according to a study done by RAND.
Is the PC long for the world?
When it comes to computers, laptops
have long been more popular than
desktops. Now — says the IDC
Worldwide Quarterly Tablet Tracker —
tablets are quickly becoming more
popular than laptops or your standard
Missed last week's issue? See which articles your colleagues read most.
AM Best: 2012 results excellent
The final results may not be the best ever, but A.M. Best says the underwriting and
operating results of 2012 are pretty good. For certain they are better than 2011. How good?
Net income jumped almost 52 percent. It was $39.9 billion
compared to $26.3 billion in 2011. Policyholders surplus
grew to a record $598.4 billion from the 2010 record of
Diagnostic codes: Poking good-natured fun of Obamacare
Kentucky Sen. Rand Paul is classified as a Republican but
he's really a Libertarian. Paul is also a doctor so his good-humored
laughs at the new diagnostic codes for the Patient
Protection and Affordable Care Act come from
Paul says some are very, very strange.
Around the PIA Western Alliance states
Updates on PIA Western states.
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