June 23, 2010
State Insurance Commissioner Steve Poizner will announce details today in Oakland of a $10 million settlement involving the sale of improper annuities to California seniors. by Minnesota-based Allianz Life Insurance Company of North America. Under the terms of the settlement, Allianz will enact more consumer protections to ensure that seniors who buy annuities from them starting in March are...
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June 23, 2010
If the worst happens, you can't be sure you'll collect enough to bring back the home you love. Here's what to do.   (Money Magazine) -- If last fall's devastating California wildfires weren't enough of a wake-up call, consider this: Nearly 60% of homes nationwide don't carry enough insurance coverage to be fully rebuilt. On average those homes are underinsured by 21%. To give yourself a...

June 23, 2010
Homeowners battle insurance companies over loss claims   After the devastation of the California wildfires last October and record damage from hurricane Katrina, you’d think the homeowners insurance industry would be struggling. But you’d be wrong. Insurance companies are reeling in record profits — making more money than at any time in their history. Insurers say they’re just having a few...
As posted at: MSNBC

June 22, 2010
 A hard-charging former prosecutor tries to set Wall Street right from his perch as a state official. His activist agenda brings populist praise, but also concerns he might overreach. Eliot Spitzer as New York attorney general in 2002, right? No, this time it's state Insurance Superintendent Eric Dinallo, a top aide who helped Spitzer take on Wall Street years ago. Now that Spitzer is...

June 22, 2010
The California Department of Insurance is extending a helping hand to residents affected by the San Diego fires. The agency, along with Consumer advocacy groups, United Policyholders and RB United, will hold sessions to help affected residents collect their claims. Reporter, David Nogueras has more. Today through Saturday, insurance professionals will meet with policy holders in face-to-face...
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June 22, 2010
 March 14 (Bloomberg) – The collapse of the subprime mortgage market will lead to record losses for insurance companies, overtaking Hurricane Katrina, the worst natural disaster in U.S. history. The amount of asset writedowns and credit losses reported by the industry has reached at least $38 billion, just short of the $41.1 billion in claims from Katrina, which killed more than 1,500 people...

June 22, 2010
Beatrice E. Garcia At first glance, Allstate's release of documents it has zealously guarded for more than a decade as ''trade secrets'' could be seen as an orchestrated move to keep Florida regulators at bay and let the company keep writing new policies. Earlier this month, Allstate posted on its website 150,000 pages of documents — mostly PowerPoint presentations and company reports prepared...
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June 22, 2010
Even though it's been six months since wildfires ravaged more than 1,600 homes in the San Diego area, only a handful have begun to rebuild. That's because for many wildfire survivors, dealing with their insurance companies was like a second disaster. Reporter David Nogueras has more. Jeanette Stratton returned to her San Pasqual neighborhood six months ago to find her three bedroom, two story...
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June 22, 2010
The Supreme Court struggled last week with how much weight to give an insurance company's potential conflict of interest when it denies an employee's health or disability benefits claim. The lawyer representing the Ohio woman who sued MetLife Inc. over a disability claim argued that insurance companies have a financial incentive to deny claims. That conflict of interest should weigh heavily in...

June 22, 2010
Earthquake, typhoon, wildfire. “What I see from other parts of the world, even the nation, I think California could learn more,” reflected University of California, San Diego Professor José Restrepo. The director of Operations for the Charles Lee Powell Structural Laboratories lived through a 7.2 magnitude earthquake in Columbia in 1979, which fueled his interest in structural engineering. He...
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