RALEIGH, N.C. _ Nettie Shafer has a house, a car and about $1,000 left in savings. But the 59-year-old divorced bank teller risks losing all if she doesn't find a job with health insurance soon. Shafer, who lives in Raleigh, is on about a dozen medicines, seven of them to prevent a third heart attack. Now, the insurance coverage she retained from her former job at Wachovia has run out _ and the backup she has available covers only a fraction of her medical costs. "I'm still looking for a job, every day," Shafer said. "Something's around the corner. I truly believe that. "A survival job is all I need," she said.
The recession has not only cost thousands of people their jobs, it has also cost them affordable health insurance. People who had employer-sponsored health insurance are, when laid off, usually eligible for up to 18 months of continued coverage under COBRA, the federal law more formally known as the Consolidated Omnibus Budget Reconciliation Act. But COBRA is expensive. Unemployed workers must pay the total premium. The monthly average is more than three times as expensive as what workers with employer-sponsored health insurance pay, according to data by the Kaiser Family Foundation and FamiliesUSA.
That can take a hefty chunk out of unemployment benefits. In North Carolina, the average COBRA premium for a family eats 82.4 percent of an unemployment check, according to data from FamiliesUSA, a consumer advocacy group. Many decide to take their chances and don't sign up for COBRA.At the end of 2008, an estimated 175,000 North Carolinians were out of work and uninsured, according to the N.C. Institute of Medicine. Though this includes people who lacked insurance before they became unemployed, the estimate represents a 75 percent increase since the end of 2007. The fourth quarter was particularly brutal in boosting the state's growing number of unemployed who are at risk of becoming uninsured, said John Quinterno of the N.C. Budget and Tax Center.
news source : http://www.tmcnet.com/
AMSTERDAM -(Dow Jones)- ING Groep N.V. (ING) confirmed Monday that it may pull out of one of its two insurance joint ventures in China.
The South China Morning Post Monday cited the chairman and chief executive of ING Insurance and Investment Management for Asia-Pacific as saying that ING is reviewing the joint venture operations to improve capital allocation and comply with Chinese regulation.
ING spokesman Nanne Bos confirmed Monday that the group is reviewing its position in Chinese insurance business, including pulling out of one of the joint ventures. "We have been looking at this for quite some time, even before the financial crisis started," Bos said, adding that no further announcements will be made at the moment.
news source : http://money.cnn.com/news/
People who have been refused car insurance by direct providers and big name brands can get help, it has been claimed. The British Insurance Brokers' Association (Biba) stated older motorists, particularly those with certain medical conditions, can struggle to find cover. However, it pointed out it has already managed to assist tens of thousands of individuals in the same situation. The group urged drivers who were having trouble even securing a quote to contact its consumer helpline.
Graeme Trudgill, technical and corporate affairs executive at Biba, explained: "Insurance brokers use their expertise to arrange cover for older consumers and those with medical conditions, placing them with suitable providers." The organisation issued this latest advice after the Association of British Insurers released a report titled Age and Insurance: Helping older customers find the cover they need. Although some older drivers may have difficulty finding insurance, others may find the cost of their premiums start to fall, as more mature motorists are generally regarded as a lower risk.
news source : http://www.honestjohn.co.uk/news/
Cruise travelers who purchased travel insurance from Colorado-based Prime Travel Protection are learning that the insurer has gone out of business. A statement on the company’s website informed customers that it had “initiated an orderly liquidation of services.” The brief statement added that customers would be contacted in writing regarding claims processing and that appointed counsel would handle all inquiries. Customers have been advised that if they hold a policy issued by Prime Travel Protection for upcoming cruise travel, they will not be covered and need to arrange for alternative travel insurance. They will need to dispute charges for any coverage purchased with their credit card company for a refund.
One particular situation that customers have been told to be aware of involves the waiting period for pre-existing medical conditions. Typically, to receive a waiver for such as condition the insurance needs to be purchased within 14 days of making an initial trip deposit. For those affected by this provision, Access America, a travel insurer, has indicated that given the demise of Prime Travel exceptions might be possible and will be considered based on individual circumstances, according to spokesman Mark Cipoletti. One travel agency has come forward to help Prime Travel’s clients. Ron Russo, the vice president of Best Price Cruises has said that all of the failed insurer’s customers who purchased their travel insurance along with their booking with Best Price will receive a replacement policy at no additional charge, provided by the fully-licensed insurer, iTravel Insured, Inc.
news source : http://news.carrentals.co.uk/
RALEIGH, N.C. _ Nettie Shafer has a house, a car and about $1,000 left in savings. But the 59-year-old divorced bank teller risks losing all if she doesn't find a job with health insurance soon. Shafer, who lives in Raleigh, is on about a dozen medicines, seven of them to prevent a third heart attack. Now, the insurance coverage she retained from her former job at Wachovia has run out _ and the backup she has available covers only a fraction of her medical costs. "I'm still looking for a job, every day," Shafer said. "Something's around the corner. I truly believe that. "A survival job is all I need," she said.
