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PaterusGHI — Fri, 17 Jul 2009 16:31:16 +0000

GoHealthInsurance Announces Appointment of Mike Owens as Senior Vice President

CHICAGO, July 16 /PRNewswire/ — GoHealthInsurance, a company committed to providing consumers with online options for quality health insurance quotes, through a network of technology-enabled health insurance brokers and carriers, is pleased to announce the appointment of Mike Owens as Senior Vice President.

Owens has more than 20 years of experience in the insurance, health care and financial industries, and has significant expertise in the individual health insurance market. During his career, Owens has developed substantive relationships with national insurance carriers and large-scale insurance producers.

The entire article can be found here.

US Insurance Industry Needs Bailout

PaterusGHI — Sat, 28 Mar 2009 00:37:00 +0000

The economic slowdown triggered by subprime mortgage crisis affected all sectors of the economy. The insurance industry wasn’t spared either. Several insurance companies lost their share value. One of the insurance conglomerates is still wrestling with its loans as well as credit swaps. Owing to the global economic slowdown, revenues as well as profits pertaining to life insurance were worst affected. In 2009, most of the insurance companies will be trying hard to bounce back and survive the tough competition amidst the prevailing financial turmoil.

Given below are some of the trends manifested by insurance carriers in 2008.

Ø Life Insurance Carriers

The statutory capital levels of the insurance industry have dropped sharply in the year 2008. Reports also suggest that there are a couple of companies that are making use of TARP or Troubled Assets Relief Program for raising capital. Two main factors that have been hurting the insurance sector badly are losses incurred in investment portfolio as well as reduced income from variable annuity business. Further, there are several life insurance carriers having exposure to real estate backed securities (commercial). Due to this, it is expected that the losses will be more.

Ø Re insurers

The reinsurance carriers were also badly hit in FY 2008. Hurricanes Gustav as well as Ike caused loss in underwriting profits during the second half of 2008. Due to the improvement in prices, the reinsurance carriers are expecting to make some profits when they opt for renewals in the first quarter of 2009.

Another tendency that was manifested by the clients was risk retention. Since balance sheets of insurance carriers have become financially less flexible in the prevailing market conditions, if primary insurance carriers opt for risk retention, chances are that growth in the FY 2009 will be less affected. Reinsurers can pin their hopes on rising prices. As far as losses related to investment portfolio are concerned, the trend is likely to continue for sometime now.

Ø Property and Casualty insurance Carriers

It is estimated that loss due to Hurricane Ike amounted to approximately USD$15 billion. Natural calamities caused severe damage to the insurance companies. There was decline in investment income. Not only that, credit crunch has resulted in considerable investment losses and impacted the equity markets in a negative manner. The trend is likely to continue in FY 2009 and will affect earnings. To add to the woes, the capital adequacy of most insurance carriers has reduced in a remarkable manner.

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Health Insurance

PaterusGHI — Fri, 06 Mar 2009 17:06:33 +0000

Finding Health Insurance

When shopping for health insurance, it is easy to quickly become overwhelmed by the huge variety of options. There are more insurance companies than you can possibly keep track of, and every place has different rates, giving you an overwhelming amount of options. Each of these companies offer several plans, so it is important to get free Health Insurance Quotes at a company link InsureLane.

The internet is helping to make things easier. Now you can find an abundant amount of resources on health insurance right from your computer. The increased speed of communication has helped people who need health insurnance by getting them in contact with professional agents. Visit GoHealth for all your Health Insurance needs.