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Recently Published Articles |
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| A.M. Best Downgrades Ratings of American Community Mutual Insurance Company |
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Article retrieved 11/05/2009 Contributer: Yahoo Finance Source: A.M. Best Co. |
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A.M. Best Co. has downgraded the financial strength rating to C+ (Marginal) from B (Fair) and issuer credit rating to “b-” from “bb” of American Community Mutual Insurance Company (American Community) (Livonia, MI). The outlook for both ratings is negative.
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| Frank Says Measure Will Require Naming Risky Firms |
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Article retrieved 11/04/2009 Contributer: Alison Vekshin Source: Bloomberg |
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U.S. House Financial Services Committee Chairman Barney Frank said he wants to make public the firms deemed to be systemically risky as part of legislation being considered to prevent taxpayer-funded bailouts. |
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| Pace of insurer insolvencies not yet cause for alarm |
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Article retrieved 11/02/2009 Contributer: Tim Zawacki Source: SNL Interactive |
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Insurance company receiverships have not occurred with anything like the same quantity, regularity or predictability as bank failures, but a recent rash of headlines regarding new orders of rehabilitation and liquidation has thrust the topic to the top of one's mind. |
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| State Regulatory Role Key To Solvent Insurance Industry |
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Article retrieved 10/30/2009 Contributer: NAIC Source: Insurancenewsnet.com |
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Federal oversight of financial markets must complement, not displace the coordinated, national system of state-based insurance supervision, the National Association of Insurance Commissioners (NAIC) told Congress today. |
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| McRaith: OFC Just A Wraith |
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Article retrieved 10/26/2009 Contributer: LAURA MAZZUCA TOOPS Source: National Underwriter |
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Insurance regulation is likely to remain a state function, Illinois Insurance Director Michael McRaith said Thursday at a conference. |
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Insurance Industry News |
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| Pace of insurer insolvencies not yet cause for alarm |
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Article retrieved 11/02/2009 Contributer: Tim Zawacki Source: SNL Interactive |
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Insurance company receiverships have not occurred with anything like the same quantity, regularity or predictability as bank failures, but a recent rash of headlines regarding new orders of rehabilitation and liquidation has thrust the topic to the top of one's mind. |
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| Insurance advocates laud changes to Consumer Financial Protection Agency Act |
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Article retrieved 10/26/2009 Contributer: Darla Mercado Source: Investment News |
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Members of the insurance industry are applauding an amendment to the Consumer Financial Protection Agency Act of 2009 that eliminates a section that would have given the agency oversight of some insurance products. |
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| Dems eye insurance industry's antitrust protection |
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Article retrieved 10/21/2009 Contributer: AP Source: Yahoo! News |
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Top Senate Democrats intend to try to strip the health insurance industry of its exemption from federal antitrust laws, according to congressional officials. It's the latest evidence of a deepening struggle over President Barack Obama's effort to overhaul the health care industry. |
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| ACLI elects MetLife CEO C. Robert Henrikson as its chairman |
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Article retrieved 10/20/2009 Contributer: Darla Mercado Source: Investment News |
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The American Council of Life Insurers has elected C. Robert Henrikson, chairman and chief executive of MetLife Inc., as its 2010 chairman. |
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| A.M. Best Removes From Under Review and Affirms Ratings of Conseco, Inc.; Outlook Negative |
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Article retrieved 10/19/2009 Contributer: Business Wire News Releases Source: A.M. Best Co. |
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A.M. Best Co. has removed from under review with negative implications and affirmed the financial strength rating (FSR) of B (Fair) and issuer credit ratings (ICR) of “bb” of the life/health insurance subsidiaries of Conseco, Inc. (Conseco) (Carmel, IN) [CNO]. |
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| Northwestern Mutual CEO Ed Zore takes 'Seinfeld' approach |
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Article retrieved 10/19/2009 Contributer: Del Jones Source: USA Today |
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Seinfeld fans may recall an episode where George Costanza decides that everything he's done in life has backfired and starts doing the opposite of what his instincts tell him. It works. |
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Federal Regulation |
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| Frank Says Measure Will Require Naming Risky Firms |
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Article retrieved 11/04/2009 Contributer: Alison Vekshin Source: Bloomberg |
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U.S. House Financial Services Committee Chairman Barney Frank said he wants to make public the firms deemed to be systemically risky as part of legislation being considered to prevent taxpayer-funded bailouts. |
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| State Regulatory Role Key To Solvent Insurance Industry |
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Article retrieved 10/30/2009 Contributer: NAIC Source: Insurancenewsnet.com |
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Federal oversight of financial markets must complement, not displace the coordinated, national system of state-based insurance supervision, the National Association of Insurance Commissioners (NAIC) told Congress today. |
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| McRaith: OFC Just A Wraith |
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Article retrieved 10/26/2009 Contributer: LAURA MAZZUCA TOOPS Source: National Underwriter |
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Insurance regulation is likely to remain a state function, Illinois Insurance Director Michael McRaith said Thursday at a conference. |
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| Insurance Industry Antitrust Exemption At Risk In US Health Care Overhaul Debate |
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Article retrieved 10/23/2009 Contributer: The Canadian Press Source: Insurancenewsnet.com |
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Top Senate Democrats intend to try to strip the health insurance industry of its exemption from federal antitrust laws, according to congressional officials, the latest evidence of a deepening struggle over President Barack Obama's effort to overhaul the health care industry. |
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| Congress Cranks up Pressure on Insurance Industry |
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Article retrieved 10/23/2009 Contributer: Donna Smith and John Whitesides, Reuters Source: ABC News |
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Democrats in the U.S. Congress moved on Wednesday to repeal the health insurance industry's exemption from antitrust laws, cranking up the pressure in a growing battle over President Barack Obama's healthcare reform plans. |
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| House Panel Puts Off Vote on Finance Measures Until Next Week |
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Article retrieved 10/21/2009 Contributer: JESSICA HOLZER and MICHAEL R. CRITTENDEN Source: Wall Street Journal |
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House Financial Services Chairman Barney Frank has decided to put off until next week consideration of a package of measures involving investor rules. |
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| Battle Over Insurance Regulation Heats Up |
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Article retrieved 10/16/2009 Contributer: Howard J. Stock Source: www.financial-planning.com |
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For years the insurance industry has fought on Capitol Hill for an optional federal charter for insurance agents, as opposed to the piecemeal state-based system that has existed for a century. Now with the proposed creation of the Consumer Financial Protection Agency (CFPA) looming on the agenda, some national oversight of insurance appears likely. |
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| Harrington Briefs Capitol Hill on AIG, the Economic Collapse and Regulatory Reform |
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Article retrieved 10/15/2009 Contributer: NAMIC Source: Insurancenewsnet.com |
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As proponents of federal insurance regulation continue to invoke the collapse of American International Group (AIG) as evidence of the significant risk posed by insurers to financial system, Scott E. Harrington, a professor at the Wharton School of the University of Pennsylvania offered a contrary perspective to reporters and congressional staffers at a Capitol Hill briefing Tuesday. |
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| Kanjorski revamps bill calling for federal insurance office |
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Article retrieved 10/09/2009 Contributer: Keith L. Martin Source: Insurance & Financial Advisor |
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Legislation aimed at creating a national insurance office has a new name, but the same proponent seeking to establish a federal insurance regulator. |
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Guaranty System in the News |
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| Stretching the Consumer Safety Net |
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Article retrieved 10/22/2009 Contributer: MICHELLE NEWELL LOVERN Source: Florida Underwriter Magazine |
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Florida’s Guaranty Funds Fulfill the Promise |
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Company News & Downgrades |
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| A.M. Best Downgrades Ratings of American Community Mutual Insurance Company |
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Article retrieved 11/05/2009 Contributer: Yahoo Finance Source: A.M. Best Co. |
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A.M. Best Co. has downgraded the financial strength rating to C+ (Marginal) from B (Fair) and issuer credit rating to “b-” from “bb” of American Community Mutual Insurance Company (American Community) (Livonia, MI). The outlook for both ratings is negative.
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| With $78 Million Stock Buy, Hedge Fund Paulson to Own Nearly 10% of Conseco |
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Article retrieved 10/20/2009 Contributer: Fran Matso Lysiak Source: BestWire Services |
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Conseco Inc. has agreed to sell $78 million of its common stock and warrants to Paulson & Co., a large hedge fund firm, to strengthen its capital position. When the transaction closes, the investment firm will own nearly 10% of Conseco's outstanding shares, including shares the firm previously bought in the open market.
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| Penn Treaty LTC policyholder in limbo amid liquidation |
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Article retrieved 10/19/2009 Contributer: Darla Mercado Source: www.investmentnews.com |
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Adviser and elderly client learn the hard way about insurer insolvency |
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