|
 |
Wednesday
3/26/2008
|
|
Your Insurance News "Strategic
Relationship" |
|
|
|
|
|
|
Read online at
www.insurancebroadcasting.com.
Read daily by
over 450,000 insurance industry
subscribers.
Walt Podgurski, CLU, CES, Publisher & Editor
|
|
|
© Copyright Notice
- the information on this page is protected by the copyright
laws - all rights reserved.
|
DEPENDENT ONLY
Limited Benefit Group Health Indemnity Plans
|
Dependent participation in health care plans is often notably low, and
many employers have had few options to offer employees and their
dependents. Foundation One Insurance Services, Ltd. offers a solution to
the high cost of group coverage for dependents...
custom designed, dependent-only, limited benefit group health indemnity
plans. |
|
 |
Foundation One has developed a flexible three-tiered plan which provides
affordable and meaningful benefits for employees’ dependents. Our simple
plan designs offer the employees’ dependents group health insurance
coverage that is predictable, easy to understand and use.
-
Spouse only
-
Child(ren) only
-
Spouse + child(ren)
Call us today for more information:
877-712-4004, ext. 3
website:
www.found1ins.com
email:
info@found1ins.com |
 |
Limited
Benefit Healthcare Solutions Since 1999
Underwritten by: American Fidelity Assurance Company, Oklahoma City, OK.
Policy limitations and exclusions apply.
Daily Quote:
""I like Thinking Big.
If you're going to be thinking anyway, you might as well Think Big." --
Donald Trump
|
|
WITH STUCKEY & COMPANY YOU CAN.
Your client works in metal – he is focused on quality control, equipment maintenance and productions schedules – the last thing on his mind is if his insurance would be enough if a fire destroyed his goods waiting shipment. With Stuckey & Company's customized insurance for metal manufacturers you can give your client peace of mind. Bundled protection packages offer the coverage's needed for those unexpected circumstances as well as savings compared to the price you would pay to buy them individually. Here are a few examples of the protections Stuckey can offer metal manufacturers:
- Identity Recovery Coverage
- Building and Business Personal Property
- Business Liability
- Commercial Auto Coverage
- Off-Premises Utility Services
- Product Contamination
- Product Recall and Replacement
- Transit Coverage
- Valuable Papers and Records
- Valuation Changes – Manufactured Goods
- Limited Pollution Coverage
At Stuckey & Company, we make it happen.
For complete details on Stuckey & Company's customized insurance for metal manufacturers visit the website, call 1-800-828-3452, or email today.
|
|
WE MAKE IT HAPPEN.
Stuckey & Company since 1991 · 1-800-828-3452 · www.stuckey.com
|
|
|
|
Mergers / Acquisitions / Earnings
/ Strategic Alliances / Capitalization |
Back To Top |
|
|
|
|
|
Meetings /
Seminars / Conferences / Webinars |
Back To Top |
|
|
|
|
|
1.
Fitch Comments on
Florida Homeowners Insurance Market
|
|
CHICAGO--(BUSINESS WIRE)--Fitch Ratings said today that, in
spite of reform efforts enacted by the state of Florida in 2007
to improve the availability and affordability of homeowners
insurance in the state, the Florida homeowners market continues
to be unstable. Fitch added that additional reforms are being
considered in the current state legislative session, the agency
believes there is not an easy solution to solve this problem,
and it does not expect the issues to be resolved in the near
term.
In a special
report released today, 'Fitch Comments on Florida Homeowners
Insurance Market,' Fitch said that its main concern from a
ratings perspective is that if a major storm(s) were to hit
Florida this year, the fragile market could effectively
'collapse', especially if such an event intensifies the
withdrawal of private capacity. Accordingly, Fitch believes
these pressures will continue to create uncertainties for
insurance companies with material presence in the Florida
homeowners market, and in some cases, could become a more
significant negative ratings consideration if stability does not
return to the market relatively soon.
Fitch's special
report is now available on
www.fitchratings.com under the following headers: Financial
Institutions > Insurance > Special Reports
Background:
Florida is at greater risk for hurricane catastrophe losses than
other areas of the country in that 25% of the coastal property
exposed to hurricanes in the U.S. is located in Florida.
Furthermore, given the density and expected continued growth of
the population, particularly along the desirable coastal areas
that are at a much greater risk of loss, the risk exposure is
only expected to grow. The Florida Office of Insurance
Regulation (FL OIR) earlier this year estimated that a 1 in 100
year hurricane event in Florida would result in $50 billion of
insurance industry losses. In addition, some experts predict
that hurricane activity could be above average in the near term,
as we are currently in the high frequency part of the hurricane
cycle, despite the limited storm losses in 2006 and 2007.
While the
sizable hurricane losses in 2004 and 2005 caused many insurers
to reduce their exposure in Florida or exit the market
altogether, what a number of insurers view as a difficult
regulatory environment has also prevented many companies from
returning to the market. These insurers claim that recent
legislation and state actions have worked against the insurance
industry by 1) making it more difficult for multi-line insurance
companies to write Florida automobile insurance business without
also writing Florida homeowners risk, 2) prohibiting any new
Florida-only subsidiary 'pup' companies of larger insurance
organizations, and 3) requiring state insurance regulators to
factor in a company's national profits when approving rates in
Florida, which leads to further rate suppression.
Overall, Fitch
views the nature of the Florida homeowners market as a negative
for insurer credit ratings. The core challenges are rooted in
the state's significant exposures to hurricane risk. For private
insurers at least, these risks are exacerbated by the expanded
role of state sponsored entities, against whom private insurers
find it difficult to compete, as well as significant differences
of opinion with regulators as to the level at which rates should
be set. Fitch believes these challenges and tensions will not be
alleviated any time soon, which means ratings pressures will
also remain in place for the foreseeable future.
www.fitchratings.com |
Return To
Top - -
Print Article / Read Entire Article
|
2.
Record decline in home
prices - Home prices slumped further in Jan: S&P index |
|
Tue Mar 25, 2008 12:17pm EDT
By
Al Yoon
NEW YORK (Reuters) - Prices of existing single-family homes slumped for
the 18th month in a row in January, for a record annual drop, according
to Standard & Poor's/Case-Shiller home price index released on Tuesday.
The composite month-over-month index of 20 metropolitan areas fell 2.4
percent to 180.65 from December, bringing the measure down 10.7 percent
from a year earlier and 12.5 percent from its July 2006 peak.
The 12-month drop was the latest in a string of records for the
statistic set as the housing market slumped. The previous annual drop,
in December, was 9.1 percent.
The latest annual decline was just over half of the 20 percent total
decline expected by S&P's chief economist, David Wyss, said David
Blitzer, a managing director at S&P.
Wyss expects prices to hit bottom in early 2009, Blitzer said in a
conference call.
(Reporting by Al Yoon and Richard Leong; Editing by Jonathan Oatis)
©
Reuters 2008 All rights reserved |
Return To
Top - -
Print Article / Read Entire Article
|
3.
CME To Acquire Credit
Derivatives Data Provider |
|
Tue Mar 25, 2008 12:34pm EDT NEW YORK, March 25 (Reuters) - CME Group
Inc (CME.N: ) said on Tuesday it is acquiring
Credit Market Analysis Ltd, a provider of credit derivatives data, as
the exchange looks to bolster its business in the fast-growing market.
CME offers credit derivatives contracts, but trading volume has
typically been low for these products. Buying Credit Market Analysis,
which provides credit derivatives data to asset managers, may help the
exchange understand the market better, an analyst said. (Reporting by Phil Wahba; Editing by Andre Grenon)
© Reuters 2008 All rights reserved |
Return To
Top - -
Print Article / Read Entire Article
|
4.
Citigroup launches new
foreign exchange platform |
|
Tue Mar 25, 2008 12:31pm EDT
NEW YORK, March 25 (Reuters) - Citigroup (C.N: ), the largest U.S. bank, on Tuesday launched an online foreign
exchange trading platform aimed at retail investors and small
institutional dealers.
The platform, CitiFX Pro, is available to U.S. clients and will be
unveiled in other parts of the world over the next few months, the bank
said in a news release.
In
November, Citigroup and Copenhagen-based Saxo Bank announced plans for
CitiFX Pro, which combines Saxo's technical expertise with the deep
liquidity that Citigroup offers. Citigroup is the largest U.S. bank by
assets.
Citigroup is one of the top participants in the $3 trillion-a-day
currency market, along with Deutsche Bank (DBKGn.DE: ) and UBS (UBSN.VX: ), which both have
foreign exchange trading platforms meant for retail clients. (Reporting by Kevin Plumberg; Editing by Jonathan Oatis)
© Reuters 2008 All rights reserved |
Return To
Top - -
Print Article / Read Entire Article
|
5.
First 'Say-on-Pay' Vote
Goes to Aflac Shareholders |
|
COLUMBUS, Ga., March 25 /PRNewswire/ -- Aflac Incorporated's board of
directors has released the proxy statement language formally inviting
shareholders to vote on the company's performance based compensation.
The action marks the first time shareholders will vote on executive
compensation for a major American public company. Aflac will announce
the results of the vote on May 5, 2008, during the annual shareholders
meeting in Columbus, Georgia, where the company is headquartered.
http://www.aflac.com/shareholdermeeting.
|
Return To
Top - -
Print Article / Read Entire Article
|
6.
A.M. Best Releases
Revised Rating Methodology on Life Settlement Securitization |
|
OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has released its revised
rating methodology on life settlements, “Life Settlement
Securitization,” which describes the criteria for rating securities
backed by life settlements. A life settlement is an insurance policy
sold by the owner—typically the insured or a trust—for an amount greater
than the surrender value of the policy but lower than the face amount of
the policy. The purchaser of the life settlement becomes the new owner
and beneficiary of the life insurance policy and is responsible for
making future premium payments and collecting the death benefits of the
insured.
For more information on A.M. Best’s rating methodologies or to download
a copy of this full methodology report, visit
http://www.ambest.com/ratings/methodology.html.
For access to special reports, analytical methodologies and transactions
relating to structured finance, please visit
http://www3.ambest.com/sfc/.
|
Return To
Top - -
Print Article / Read Entire Article
|
7.
Great American
Insurance Group's Environmental Division Open for Business and Accepting
Submissions |
|
CINCINNATI--(BUSINESS WIRE)--The Great American Insurance Group is
pleased to announce that its Environmental Division is open for business
and actively accepting submissions. The experienced underwriting staff
and claims group offers a broad portfolio of environmental products
addressing a wide spectrum of risks. Limits of liability are available
up to $25 million. Brokers and agents looking for environmental
solutions for their clients can contact the Great American Environmental
Division at 888-828-4320. |
Return To
Top - -
Print Article / Read Entire Article
|
8.
More Companies, Workers
Adopt Consumer-Directed Health Plans |
|
Nearly Half of Employers Now Have CDHPs, Watson Wyatt/National Business
Group on Health Survey Finds
WASHINGTON, D.C., March 13, 2008 – The number of companies that offer a
consumer-directed health plan (CDHP) is rising, and the number of
workers who enroll in the programs has nearly doubled over the last two
years. Furthermore, health cost increases for companies with high CDHP
enrollment are roughly half those facing companies offering only
traditional health coverage, according to an annual survey conducted by
Watson Wyatt and the National Business Group on Health.
Nearly half (47 percent) of the 453 large U.S. employers that
participated in the survey currently offer a CDHP, an increase from 39
percent in 2007 and 33 percent in 2006. By 2009, 54 percent of companies
plan to offer a CDHP. A CDHP is a high-deductible plan offered with a
personal account that can be used to pay a portion of medical expenses
not covered under the plan.
As
adoption rates climb, employee enrollment also continues to rise.
Fifteen percent of employees at organizations that offer CDHPs are
currently enrolled in such plans, up from 8 percent in 2006 and 10
percent in 2007. Only 6 percent of companies report 100 percent
enrollment in a CDHP, but that number is expected to rise to 9 percent
in 2009.
“A
CDHP offers a way for companies to control costs while increasing
employee accountability for health care decisions,” said Ted Nussbaum,
Watson Wyatt’s director of group and health care consulting in North
America. “The participants in a consumer-oriented model must be more
familiar with the system and have a deeper understanding of their
options. But encouraging employees to adopt healthy behaviors and manage
their health proactively is no easy task.”
To
view the 13th annual National Business Group on Health/Watson Wyatt
Report, visit
www.watsonwyatt.com/purchasingvalueinhc.
|
Return To
Top - -
Print Article / Read Entire Article
|
9.
One-Third of Individual
Long-Term Care Insurance Buyers Under Age 55; Youngest Claimants In
Their 20s and 30s |
|
Long-term care insurance has evolved from a post-retirement purchase to
a staple of financial planning for those in their 40s and 50s.
According to new research just published by the American Association for
Long-Term Care Insurance (AALTCI), one third (33%) of buyers of
individual long-term care insurance protection in 2007 were under age
55. Younger individuals are not merely buying protection in
anticipation of claims in their later years. The Association's new
study revealed claims involving policyholders in their 20s and 30s.
"Long-term care planning is now an integral part of mainstream financial
planning, especially for baby boomers," states Jesse Slome, AALTCI
executive director. According to data published in the Association's
2008 Long-Term Care Insurance Sourcebook, some 400,000 Americans
purchased insurance protection last year either on an individual basis
or through their employer. The total number of Americans with
protection has now reached eight million.
"Individuals who purchase protection at younger ages are far more likely
to qualify for significant savings offered to those who meet health
qualifications," Slome explains, "and now the data confirms that some of
these younger policyholders will actually receive benefits from their
protection as a result of an accident or illness."
Six of the nation's leading insurers shared data for their youngest
policyholders receiving claim benefits in 2007. One such claimant was
32-year-old; fell and injured their knee requiring several surgeries and
months of rehabilitation. After six months on claim (receiving care in
their home) they recovered fully. Another individual (currently 39) has
been on claim for over four years due to Parkinson's disease. The
youngest individual on claim (individual LTCi policy) was age-25 upon
submission of the initial claim payment. The youngest group
(employer-sponsored) plan participant on claim is 23.
The complete study findings are included in the 2008 LTCi Sourcebook
published by the American Association for Long-Term Care Insurance.
Copies are available (free for members; $59 for non-members) by
contacting the Association at (818) 597-3227 or by visiting the
organization's Website
www.AALTCI.org.
2007 Sales By Issue Age (Individual policy sales)
Under 35 1%
35-44 6%
45-54 26%
55-64 50%
65-74 15%
75
or Older 2%
2007 Sales By Issue Age (group policy sales - employer-sponsored)
Note: Group buyers tend to be younger
Under 35 9%
35-44 18%
45-54 36%
55-64 30%
65-74 6%
75
or Older 1%
Source: 2008 Long-Term Care Insurance Sourcebook, published by the
American Association for Long-Term Care Insurance, February 2008 |
Return To
Top - -
Print Article / Read Entire Article
|
10.
Fitch Report Comments
on U.S. Health Insurer Earning Revisions |
|
CHICAGO--(BUSINESS WIRE)--According to a special report published last
week by Fitch Ratings, the downward earnings revisions in the health
insurance sector for 2008, which created a quick and in some instances
severe correction in share prices, has not changed the rating agency's
Stable Rating Outlook for the sector.
In
recent weeks, several health insurance companies cited inadequate
pricing, increased medical cost trends attributed to a heavy influenza
season and declining investment income from recent interest rate drops
as the cause for lower expected 2008 earnings. Year-to-date the market
valuation for health insurers has fallen over 35%.
Fitch's Special Report on this issue, 'Health Insurers: Prognosis
Unchanged: Ratings Stable Despite Downward Earnings Revisions', can be
accessed from Fitch's website at:
www.fitchratings.com under the following headers: Financial
Institutions > Insurance > Special Reports. |
Return To
Top - -
Print Article / Read Entire Article
|
11.
INSURANCE NEWSLINK
Articles |
|
Recent articles added to INSURANCE NEWSLINK, the worldwide, strategic
concise intelligence database of over 30,000 articles including
interviews, uniquely analysed by company, market, research, regulatory,
and IT topics.
Please click here for a content overview and a 15-day
free review.
THE TIME EFFECTIVE WAY TO STAY AHEAD
-
ABI responds positively to Solvency II draft report
-
FSA issues discussion paper on commercial lines commission disclosure
-
Ping An stays in the headlines
-
ACE holding company to re-domesticate to Switzerland
-
LIMRA publishes persistency study
-
Gallagher acquires in Pennsylvania
-
Legal & General moves for Suffolk Life
-
Mastek secures Legal & General contract
-
Increasing use of data mining solution by brokers says Open GI
-
Kewill to work with KMG on electronic trading after successful pilot
-
Snapshots Brazil Motor Insurance 2008
-
Ryan names retirement date
-
Impressive results from SCOR
-
Scottish Widows offers contract valuation through IntelliFlo
-
Vienna to merge Polish life units
-
Marsh sets up new arm in Dubai
-
Willis aims at smaller UK brokers with N2
-
Humana to buy in Illinois
-
Towergate looking to buy a small insurer?
|
Return To
Top - -
Print Article / Read Entire Article
|
12.
Bank Insurance News In
Brief - March 25, 2008 |
|
TODAY'S BANK INSURANCE IN BRIEF" is provided each week courtesy of
Michael White Associates @www.bankinsurance.com. To read these stories
, visit
http://www.bankinsurance.com/editorial/news/default.htm
-
EW REPORTING METHOD MAKES U.S. BANKS’ INSURANCE BROKERAGE FEE INCOME
APPEAR SLIGHTLY LOWER
-
TEST TAKING SCANDAL LEADS TO SUSPENSION OF 16 STATE FARM REPS
-
TWO ELDERLY WOMEN ACCUSED OF TAKING OUT LIFE POLICIES ON HOMELESS MEN
AND KILLING THEM TO COLLECT THE PAYOUTS
-
INSURANCE BROKERAGE FEE INCOME UP 6%, BOLI INCOME UP 4.5% AT NORTHWEST
BANCORP
-
PARKWAY BANK REPORTS 16.5% DROP IN INSURANCE BROKERAGE FEE INCOME
|
Return To
Top - -
Print Article / Read Entire Article
|
13.
Life Denied: Nurses,
Family of Sick Teen March on Health Insurance Company TODAY |
|
17-year-old boy needs cancer treatment, PacifiCare denies
CYPRESS, Calif., March 25 /PRNewswire/ -- Registered nurses, friends
and concerned community members will join the family of Nick Colombo
marching on the corporate offices of health insurance giant PacifiCare
in Orange County today to protest the denial of a life-saving cancer
treatment for the 17-year- old, the California Nurses
Association/National Nurses Organizing Committee (CNA/NNOC) announces.
The family and the nurses are also urgently appealing to the public to
call PacifiCare at 714-828-1821 and demand they provide the care Nick
needs.
Supporters can deliver the same message to PacifiCare spokesman Tyler
Mason at 714-226-3530
What: March on PacifiCare
When: TODAY, March 25, 10:00 am
Where: PacifiCare Headquarters,
5701 Katella Ave, Cypress, CA 90630
"My brother Nick Colombo is just 17 years old, and he has suffered with
a painful bone cancer for four years," said Ricky Colombo, Nick's
19-year old brother. "Our insurance company, PacifiCare, denied Nick
radiation treatment available in Kansas City which can save his life. He
has exhausted all other treatment options but nothing worked. This is
our last effort and this procedure has worked before with people in
Nick's situation. We are now standing up for Nick, and telling
PacifiCare that what they are doing is wrong."
Nick's brother Ricky asked for assistance in the patient stories section
of the Guaranteed Healthcare, a Web site maintained by CNA/NNOC to
document the stories of real people harmed by the health insurance
companies.
Read his full story here:
http://www.guaranteedhealthcare.org/your_story/save-my-brother-nick-pacificare
"PacifiCare and the State's refusal of Nick's cancer treatments --
overruling the urgent appeals of an array of doctors and nurses -- is
indicative of the failures of the healthcare plans offered up in many
states including California," said Geri Jenkins UCSD Medical Center RN
and an elected member of the CNA/NNOC Council of Presidents.
The treatments were deemed medically necessary by Nick's doctors, but
California's Managed Care oversight board recently sided with
PacifiCare, a decision that Nick's caregivers, family and community have
vowed to overturn.
PacifiCare was recently fined $3.5 million by the state of California
for systematic mishandling of at least 133,000 claims like Nick's. The
company is facing up to $1.3 billion in addition penalties, for
illegally denying care, and a Department of Managed Health Care
investigation found that the corporation wrongly denied claims in 30
percent of its HMO cases in 2006-7. In 2005, PacifiCare was taken over
by the nation's largest health insurer, UnitedHealth, which is expected
to grow its profits 13 percent in 2007-8, according to recent reports.
|
Return To
Top - -
Print Article / Read Entire Article
|
14.
DTCC Settles Record
$1.8 Quadrillion in 2007; $984 Million in Rebates Returned to Customers
|
|
NEW YORK--(BUSINESS WIRE)--The Depository Trust & Clearing Corporation (DTCC)
announced today it cleared and settled more than $1.86 quadrillion in
securities transactions in 2007. DTCC also reported record revenue of
$1.69 billion and returned $984 million to its customers in the form of
discounts and rebates.
Through its subsidiaries, DTCC provides clearance, settlement and
information services for equities, corporate and municipal bonds,
government and mortgage-backed securities, money market instruments and
over the counter derivatives, and is a leading processor of mutual funds
and insurance transactions. DTCC’s depository provides custody and asset
services for about 3.5 million securities issues from the U.S. and 110
other countries and territories worth more than $40 trillion.
DTCC’s $1.69 billion in revenues last year was up 24% from the $1.36
billion in 2006. Record high volumes and DTCC’s tight fiscal management
helped reduce costs in some of DTCC’s traditional market segments and
resulted in record rebates and discounts of $984 million. Because DTCC
operates on an “at-cost” basis, excess revenue beyond that required to
fund the business is returned to customer firms on a pro-rata basis.
In
addition to the rebates, the company announced the largest fee cuts in
its history for 2008, driven by the economies of scale and frugal cost
management provided by DTCC’s operations. These changes are expected to
result in a combined total of $198 million in fee reductions to
customers for the coming year. That followed fee revisions resulting in
almost $90 million in reductions for 2007.
www.dtcc.com |
Return To
Top - -
Print Article / Read Entire Article
|
15.
KCSA Strategic
Communications Launches Financial Services Practice |
|
Integrated Practice Includes Investor Relations, Public Relations and
Marketing Services
NEW YORK, March 25 /PRNewswire/ -- KCSA Strategic Communications has
formally launched a practice dedicated to supporting the investor
relations, public relations and marketing needs of financial services
companies.
The new initiative leverages KCSA's decades of financial services
experience, including deep and varied industry knowledge, to offer
clients highly innovative, strategic communications campaigns and expert
counsel that produces measurable results. Representative financial
services client experience includes Alpha Financial Technologies,
Compass Diversified Holding (CODI), Genesis Lease Holding, JMP Group,
LaBranche & Co, Macquarie Infrastructure Company (MIC), Pennsylvania
Real Estate Investment Trust (PREIT), ThinkEquity Partners,
Toronto-Dominion Bank and SeaBright Insurance Holdings.
http://www.kcsa.com |
Return To
Top - -
Print Article / Read Entire Article
|
16.
GEICO Offers 30
Scholarships for Presidential Classroom Programs |
|
WASHINGTON--(BUSINESS WIRE)--GEICO and Presidential Classroom are
teaming up on a scholarship program that will bring more high school
students to Washington, D.C. this summer to learn first-hand about the
federal government, international affairs and public leadership from
extraordinary, successful leaders and policy-makers.
Presidential Classroom is a national program for more than 2,500 of the
country’s top high school students who visit the nation’s capital each
year, meet federal officials and learn about issues from those involved
in the policy process. The students also visit organizations that play a
role in implementing government programs, shaping legislation or
communicating through national bureaus in media and public affairs.
This year, GEICO will present scholarships to 30 students who will be
named “GEICO Presidential Classroom Scholars.” |
Return To
Top - -
Print Article / Read Entire Article
|
17.
Saving on Prescriptions
Just Got Easier for Many CIGNA Members |
|
BLOOMFIELD, Conn.--(BUSINESS WIRE)----CIGNA (NYSE:CI) today announced
two new enhancements to its online Prescription Drug Price Quote tool
that will make it even easier for members to save money on their
prescriptions. Now by using the myCIGNA.com personal Website, eligible
CIGNA Pharmacy Management(R) members can get electronic generic
prescription discount coupons. They can also get real-time, side-by-side
price comparisons of drug costs from three local pharmacies at a time,
as well as from the CIGNA Tel-Drug(R) Home Delivery Pharmacy.
|
Return To
Top - -
Print Article / Read Entire Article
|
18.
Raising that '07 baby
will cost $204,060 in U.S. |
|
WASHINGTON (Reuters Life!) - Middle-income families can expect to spend
$204,060 on feeding, housing and schooling a child born in 2007 until
his or her 18th birthday, the U.S. government reported on Monday.
Child care and education costs will represent a larger share of costs
for raising the '07 baby through adulthood than they have in the past,
the Agriculture Department said in an annual study on child-rearing
costs.
"The cost of providing food decreased from 24 percent to 17 percent of
total child-rearing costs, while child care and education expenses
increased from 2 percent to 12 percent," the department said.
Housing will be the single largest cost for U.S. families -- making up
33 to 27 percent of total expenses across income groups, USDA said.
Factoring in inflation, the grand total for middle-income families comes
to $269,040, USDA said. Total costs also include transportation, health
care, and other necessities.
© Reuters 2008 All rights reserved |
Return To
Top - -
Print Article / Read Entire Article
|
19.
Hermitage Insurance
Company Implements ISO Rating Service |
|
JERSEY CITY, N.J., March 25, 2008 — ISO Insurance Technology Solutions
(ISO-ITS) today announced that Hermitage Insurance Company has
implemented ISO Rating Service® within its policy-administration system.
ISO Rating Service is a comprehensive, automated rate-management system
containing a combination of advanced technology and product-management
tools. The system provides insurers with advisory information loaded
into a powerful rating engine combined with rate-management decision
tools and continual ISO updates. www.iso.com |
Return To
Top - -
Print Article / Read Entire Article
20.
INSURANCE NEWSCAST "Pictures Of The Day" -- Sponsored By:
|
|
|
 |
 |
Taiwanese
helicopters during an anti-airborne exercise in
central Taiwan, July 27, 2005. The U.S. military
mistakenly shipped four fuses for nuclear missiles
to Taiwan in 2006 and never caught the error, the
Pentagon said on Tuesday. The military was supposed
to ship helicopter batteries, but instead sent fuses
used as part of the trigger mechanism on Minuteman
missiles.
REUTERS/Richard Chung
|
 |
Hundreds of
visitors stranded on London Eye
Four hundred people were trapped on
the London Eye for more than an hour while engineers
fixed a mechanical fault. A general view of the
London skyline with the London Eye, February 9,
2008.
REUTERS/Luke MacGregor
|
 |
BMX rider Luke Madill, who is
currently ranked fifth in the world, flies over a jump on a purpose
built track in his back yard in Sydney's western suburbs March 25, 2008.
Madill and his father Roger built the Olympic length BMX track, complete
with an 8-metre-high (26 feet) start ramp, so he can prepare for the
2008 Olympic games on a course that resembles the track riders will
compete on in Beijing. REUTERS/Tim Wimborne (AUSTRALIA) |
 |
Elephants from the Ringling Bros.
and Barnum and Bailey Circus stop while walking near the U.S. Capitol on
their way to the Verizon Center in Washington, March 24, 2008. The
circus is in Washington through this weekend. REUTERS/Larry Downing
(UNITED STATES) |
 |
A loggerhead sea turtle (Caretta
caretta) makes its way to the sea in Arico, on the Spanish Canary island
of Tenerife, March 25, 2008. A project to help conserve the turtles aims
to reintroduce the species which disappeared from the Canary Islands 300
years ago. REUTERS/Santiago Ferrero (SPAIN) |
 |
The front view of a Dodge 1926 model
car, owned by Nawabzada Nusrat Khan, in Pakistan's northern town of Dera
Ismael Khan March 25, 2008. Nusrat's father, Nawabzada Qutub-ud-Din
Khan, the Nawab of Tank bought the U.S. made Dodge Brothers car in 1926.
The ownership of the car was transferred to his son after Qutub-ud-Din's
death in 1970. The car won in the Oldest Car Competition and Rally,
which was from Lahore to Islamabad on March 13, 2002, organised by the
Punjab Tourism Department. REUTERS/Mustansar Baloch (PAKISTAN) |
 |
A labourer walks through a
greenhouse that grows watermelons at Kibbutz Yad Mordechai, just outside
the northern Gaza Strip March 25, 2008. REUTERS/Yiorgos Karahalis
(ISRAEL) |
 |
Mount Everest, the highest peak in the world with an altitude of 8,848
metres (29,028 feet), is seen in this aerial view March 25, 2008. Mount
Everest was supposed to be the scene of the crowning glory of the
Beijing Olympic torch relay, but unrest in Tibet, where the ascent of
the world's highest mountain will begin, now threatens to dominate the
event. REUTERS/Desmond Boylan (NEPAL) |
 |
A view of the Inca citadel of Machu
Picchu in Cuzco March 24, 2008. Peru expects the arrival of two million
visitors in 2008, after the election of Machu Picchu as one of the New 7
Wonders of the World, according to Peru's Tourism and Commerce Ministry.
REUTERS/Enrique Castro-Mendivil (PERU) |
|
|
