Latest Life Insurance Settlements News Update March 13, 2006 at 11:20 PM

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China Life to set up China casualty insurance firm (Reuters


China Life to set up China casualty insurance firm (Reuters via Yahoo! Asia News)
HONG KONG, March 14 (Reuters) - China Life Insurance Co. Ltd. said on Tuesday it would team up with its parent to set up a property and casualty insurance firm in China with registered capital of 1 billion yuan (US$124 million).

Palestinians worry amid Authority woes (Baltimore Sun) Gazans tighten belts,


Palestinians worry amid Authority woes (Baltimore Sun)
Gazans tighten belts, await government pay Ashraf Manama, a Palestinian police officer, doesn't have money to pay his phone bill, so the telephone company cut off service last week. His wife, Rana, a high school English teacher, is buying only food and basic necessities for their four children. His father, Abdullah, a school headmaster, wonders where he will find the $150 needed to pay for gas

US Schools Failing Children With Disabilities (Scoop.co.nz) In 1975, long


US Schools Failing Children With Disabilities (Scoop.co.nz)
In 1975, long before the current epidemic of developmental disorders began, Congress passed the Individuals with Disabilities Education Act (IDEA), which requires public schools to identify children with disabilities and provide them with a need specific free education in the least restrictive environment.

Spitzer nearing more insurance settlements: source (Reuters via Yahoo! News)


Spitzer nearing more insurance settlements: source (Reuters via Yahoo! News)
New York Attorney General Eliot Spitzer is in the late stages of talks with a number of U.S. and foreign insurers and brokers resulting from a two-year probe into bid-rigging and fraudulent use of finite insurance, a person familiar with the situation said on Friday.

Business events this week (Canadian Press via Yahoo! News) (CP)


Business events this week (Canadian Press via Yahoo! News)
(CP) - Business events scheduled for the week of Feb. 13-17 (weekdays only):

Insurance vetted for losses from animal forays (Jakarta Post) The


Insurance vetted for losses from animal forays (Jakarta Post)
The government is considering providing life and property insurance for people living in jungle areas prone to rampages by wild animals. The plan is expected to help curb the killing of the animals after they stray into human settlements because of the loss of their habitat.

AIG's National Union Fire Insurance Company of Pittsburgh, Pa(R) Introduces


AIG's National Union Fire Insurance Company of Pittsburgh, Pa(R) Introduces Security & Privacy Insurance for (Business Wire via Yahoo! Finance)
NEW YORK----March 13, 2006--National Union Fire Insurance Company of Pittsburgh, Pa. , a member company of American International Group, Inc. , today announced Security & Privacy Insurance, a new policy coverage addressing the liability of companies accused of negligently handling private or confidential data.

OTHER CASES (IWon - Money) The source said that settlement


OTHER CASES (IWon - Money)
The source said that settlement talks could be delayed by efforts to coordinate with other federal and state authorities. Spitzer is also wrapping up his probe into fraud in the title insurance industry, a multi-state effort spanning two years.

Glavin becomes head of individual insurance group at MassMutual (BizJournals)


Glavin becomes head of individual insurance group at MassMutual (BizJournals)
William F. Glavin Jr., chief executive of Babson Capital Management LLC, has taken over the individual insurance group at parent company Massachusetts Mutual Life Insurance Co.

Insurance and Transport (Mondaq) The Court of Appeal has now


Insurance and Transport (Mondaq)
The Court of Appeal has now delivered the eagerly awaited judgment in the case of Goshawk Dedicated Ltd and Others v. Tyser & Co Ltd and Another [2005] EWHC 461 (Comm). The Lloyd s Syndicate underwriters ("the Syndicates") had appealed the High Court decision that the defendant brokers ("the Brokers") had no obligation to produce to a Lloyd s Syndicate placing and claims documents that had

Farmer lets insurance lapse on Ark. farm just before tornado


Farmer lets insurance lapse on Ark. farm just before tornado hits (WREG-TV Memphis)
MORTON, Ark. Cleo Cain, who raises rice and corn in Woodruff County, let the insurance lapse on his farm, his equipment and three houses for himself and family members last week.

Insurance vetted for losses from animal forays (Jakarta Post) The


Insurance vetted for losses from animal forays (Jakarta Post)
The government is considering providing life and property insurance for people living in jungle areas prone to rampages by wild animals. The plan is expected to help curb the killing of the animals after they stray into human settlements because of the loss of their habitat.

Former Sioux Falls Insurance Agent Sentenced to 21 Years in


Former Sioux Falls Insurance Agent Sentenced to 21 Years in Prison (KSFY)
His victims trusted Ryan Wingler with their life savings. But instead of investing it as their insurance agent, the 34 year-old spent it on expensive toys like a Hummer, a Mercedes and a boat. Friday he learned how long he'd spend in prison after pleading guilty to six counts.

Net Networking (Columbus Alive) Vocal Coach Need more power, control,


Net Networking (Columbus Alive)
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Business events this week (Canadian Press via Yahoo! News) (CP)


Business events this week (Canadian Press via Yahoo! News)
(CP) - Business events scheduled for the week of Feb. 13-17 (weekdays only):

Visit our website (Orangeville Citizen) WELLNESS/NUTRITION. Tired of feeling tired?


Visit our website (Orangeville Citizen)
WELLNESS/NUTRITION. Tired of feeling tired? Find out how to have more energy! Feel good, look great, live well everyday. Contact me - Mer-na Frank (519) 925-6945. E-mail - MRF2002@yahoo.ca. Website: www.gnld.net/feelgoodforlifec9 HOME RENOVATIONS, IMPROVE-MENTS & Repairs.

Term Life Insurance -- As Easy As A-B-C (Stuttgart Daily


Term Life Insurance -- As Easy As A-B-C (Stuttgart Daily Leader)
(ARA) - There are some things in life that will always be confusing. Like why the same meals prepared at your children's friends' houses always taste better. Why you can run out of gas when the gauge still shows one-eighth full.

Jury clears shop owner of fraud (San Mateo County Times)


Jury clears shop owner of fraud (San Mateo County Times)
REDWOOD CITY An auto body shop owner was cleared of fraud last week, more than a year after his and 13 other auto body shops were targeted in an insurance sting.

Liberty Mutual Group Reports Fourth Quarter and Full Year 2005


Liberty Mutual Group Reports Fourth Quarter and Full Year 2005 Results (Business Wire via Yahoo! Finance)
BOSTON----March 1, 2006--Liberty Mutual Group today reported net income of $253 million and $1.027 billion for the three and twelve months ended December 31, 2005, respectively, representing decreases of $312 million and $218 million from the same periods in 2004.

Don't settle for this insurance stock's pumped-up prices (Boston Herald)


Don't settle for this insurance stock's pumped-up prices (Boston Herald)
The latest issue of Investment Trader Trends to arrive in the mailbox promised hot new investments for 2006, a new market sector that you can't afford to ignore, and a stock that could yield a staggering...

Coventry Capital Announces Premium Financing for Existing Life Insurance Policies


Coventry Capital Announces Premium Financing for Existing Life Insurance Policies (PR Newswire via Yahoo! Finance)
Coventry Capital today announced its latest innovation that makes premium financing available to owners of existing policies.

Group insurance has paid out $103M to severely wounded (Stars


Group insurance has paid out $103M to severely wounded (Stars and Stripes)
WASHINGTON More than 1,600 severely wounded servicemembers have received cash payouts through the new Traumatic Servicemembers Group Life Insurance program in its first three months, according to program officials.

Crime & Safety (Norwich Bulletin) NEW LONDON --A former New


Crime & Safety (Norwich Bulletin)
NEW LONDON --A former New London woman was charged Thursday with collecting on a life insurance policy her father obtained under an assumed identity and age, according to Chief State's Attorney Christopher L. Morano.

GEORGIA HOUSE OF REPRESENTATIVES DAILY REPORT (The Weekly) TOMORROW S FORECAST


GEORGIA HOUSE OF REPRESENTATIVES DAILY REPORT (The Weekly)
TOMORROW S FORECAST * Tuesday, March 7 will be a Committee Day : NO FLOOR SESSION * The House will reconvene for its 28th Legislative Day on Wednesday, March 8, at 10:00 am. 8 bills are expected to be debated on the floor.

Documents already seen by underwriters are not confidential: U.K. court


Documents already seen by underwriters are not confidential: U.K. court (Business Insurance)
LONDON Underwriters at Lloyd's of London should be allowed access to clients' placement and claims files even if insurance buyers do not agree to disclose the documents, the U.K. Court of Appeal ruled last week.

Insurance Probe Defies Death (TheStreet.com) Spitzer subpoenaes Jessica Bibliowicz's National


Insurance Probe Defies Death (TheStreet.com)
Spitzer subpoenaes Jessica Bibliowicz's National Financial on "life settlements."

Investment gains for all life insurance firms (Bangkok Post) The


Investment gains for all life insurance firms (Bangkok Post)
The Insurance Department will seek the approval of the caretaker commerce minister Somkid Jatusripitak next month to allow life insurers to invest in real estate and expand allowed investment of non-life companies in other firms to 15% from the current 10%.

Spitzer nearing more insurance settlements: source (Reuters via Yahoo! News)


Spitzer nearing more insurance settlements: source (Reuters via Yahoo! News)
New York Attorney General Eliot Spitzer is in the late stages of talks with a number of U.S. and foreign insurers and brokers resulting from a two-year probe into bid-rigging and fraudulent use of finite insurance, a person familiar with the situation said on Friday.

Life Partners Holdings, Inc. Announces Quarterly Dividend (Business Wire via


Life Partners Holdings, Inc. Announces Quarterly Dividend (Business Wire via Yahoo! Finance)
WACO, Texas----Feb. 21, 2006--Life Partners Holdings, Inc. , announced today that it would pay a five-cent per share quarterly dividend to shareholders of record as of March 3, 2006.

Life settlement provider Maple Life Financial, Inc. to be acquired


Life settlement provider Maple Life Financial, Inc. to be acquired by investment firm and management (CNW Group via Yahoo! Finance)
Maple Financial Group, Inc. announced today that it has entered into a definitive agreement to sell its wholly-owned subsidiary, Maple Life Financial Inc., to investment funds managed by Reservoir Capital Group, LLC.

Palestinians worry amid Authority woes (Baltimore Sun) Gazans tighten belts,


Palestinians worry amid Authority woes (Baltimore Sun)
Gazans tighten belts, await government pay Ashraf Manama, a Palestinian police officer, doesn't have money to pay his phone bill, so the telephone company cut off service last week. His wife, Rana, a high school English teacher, is buying only food and basic necessities for their four children. His father, Abdullah, a school headmaster, wonders where he will find the $150 needed to pay for gas

Former Sioux Falls Insurance Agent Sentenced to 21 Years in


Former Sioux Falls Insurance Agent Sentenced to 21 Years in Prison (KSFY)
His victims trusted Ryan Wingler with their life savings. But instead of investing it as their insurance agent, the 34 year-old spent it on expensive toys like a Hummer, a Mercedes and a boat. Friday he learned how long he'd spend in prison after pleading guilty to six counts.

Spokane, Wash., Ambulance Patients Overbilled (Insurance Journal) The Spokane, Wash.,


Spokane, Wash., Ambulance Patients Overbilled (Insurance Journal)
The Spokane, Wash., City Council will decide whether to terminate a contract with a private ambulance company that overbilled hundreds of patients and insurance companies more than $320,000 in the pas

Insurance and Transport (Mondaq) The Court of Appeal has now


Insurance and Transport (Mondaq)
The Court of Appeal has now delivered the eagerly awaited judgment in the case of Goshawk Dedicated Ltd and Others v. Tyser & Co Ltd and Another [2005] EWHC 461 (Comm). The Lloyd s Syndicate underwriters ("the Syndicates") had appealed the High Court decision that the defendant brokers ("the Brokers") had no obligation to produce to a Lloyd s Syndicate placing and claims documents that had

Matthew Winter Named President and Chief Executive Officer of AIG


Matthew Winter Named President and Chief Executive Officer of AIG American General Life Companies (Business Wire via Yahoo! Finance)
NEW YORK----March 3, 2006--American International Group, Inc. has announced that Matthew Winter has been named President and Chief Executive Officer of AIG American General Life Companies .

Insurance vetted for losses from animal forays (Jakarta Post) The


Insurance vetted for losses from animal forays (Jakarta Post)
The government is considering providing life and property insurance for people living in jungle areas prone to rampages by wild animals. The plan is expected to help curb the killing of the animals after they stray into human settlements because of the loss of their habitat.

European Insurance Technology Strategies (UK Comment Wire) Introduction The European


European Insurance Technology Strategies (UK Comment Wire)
Introduction The European Insurance industry has fully emerged from a difficult period in the early part of the decade. Both life and non-life carriers are currently experiencing a period of relative stability, and have engaged in a reassessment of their technology opportunities.

Jury clears shop owner of fraud (San Mateo County Times)


Jury clears shop owner of fraud (San Mateo County Times)
REDWOOD CITY An auto body shop owner was cleared of fraud last week, more than a year after his and 13 other auto body shops were targeted in an insurance sting.

Business events this week (Canadian Press via Yahoo! News) (CP)


Business events this week (Canadian Press via Yahoo! News)
(CP) - Business events scheduled for the week of Feb. 13-17 (weekdays only):

Net Networking (Columbus Alive) Vocal Coach Need more power, control,


Net Networking (Columbus Alive)
Vocal Coach Need more power, control, or help with harmony? Live performance/studio. All styles punk to country. Call Angi 260-4689 BAND REHEARSAL ROOMS!!!

Coventry Capital Announces Premium Financing for Existing Life Insurance Policies


Coventry Capital Announces Premium Financing for Existing Life Insurance Policies (Business Wire via Yahoo! Finance)
FORT WASHINGTON, Pa.----March 8, 2006--Coventry Capital today announced its latest innovation that makes premium financing available to owners of existing policies. The program enables policyowners to maintain needed life insurance coverage by financing the premiums using the market value of the policy itself as collateral.

Insurance Companies Both Opportunity and Threat (Ohmynews) There are 19


Insurance Companies Both Opportunity and Threat (Ohmynews)
There are 19 insurance companies in Nepal, including three life insurance companies, 14 non-life insurance, and two that handle both life and other types of insurance. After the establishment of democratic management in...

The ID Thief Under Your Roof (The Motley Fool) A


The ID Thief Under Your Roof (The Motley Fool)
A real-life Hollywood-ready drama reveals the shocking truth about identity fraud and the relationship between victims and perpetrators.

Life Partners Holdings, Inc. Announces Quarterly Dividend (Business Wire via


Life Partners Holdings, Inc. Announces Quarterly Dividend (Business Wire via Yahoo! Finance)
WACO, Texas----Feb. 21, 2006--Life Partners Holdings, Inc. , announced today that it would pay a five-cent per share quarterly dividend to shareholders of record as of March 3, 2006.

Of debt, deflation and rotten apples (Asia Times Global Economy)


Of debt, deflation and rotten apples (Asia Times Global Economy)
Deflation is a problem that looms over the horizon when the US debt bubble bursts to slow down the economy.

Insurance Probe Defies Death (TheStreet.com) Spitzer subpoenaes Jessica Bibliowicz's National


Insurance Probe Defies Death (TheStreet.com)
Spitzer subpoenaes Jessica Bibliowicz's National Financial on "life settlements."

IDBI-Fortis in truck for life insurance venture (Business Standard India)


IDBI-Fortis in truck for life insurance venture (Business Standard India)
Industrial Development Bank of India (IDBI) today signed a memorandum of understanding with Brussels-based banking and insurance firm, Fortis, for setting up a life insurance joint venture.

Judge: Insurance payout will go to mortuary (2theadvocate.com) The co-owner


Judge: Insurance payout will go to mortuary (2theadvocate.com)
The co-owner of a Port Allen mortuary breached his fiduciary duty when he spent $10,000 in corporate funds on a life insurance policy for an employee and designated himself the beneficiary of the $150,000 payout, a federal judge ruled Tuesday.

Junk mail is fancy twist on pump and dump (Chicago


Junk mail is fancy twist on pump and dump (Chicago Tribune)
The latest "issue" of Investment Trader Trends to arrive in the mailbox promised "hot new investments for 2006," "a new market sector that you can't afford to ignore" and a stock that "could yield a staggering 600 percent return or more!"

Insurance Probe Defies Death (TheStreet.com) Spitzer subpoenaes Jessica Bibliowicz's National


Insurance Probe Defies Death (TheStreet.com)
Spitzer subpoenaes Jessica Bibliowicz's National Financial on "life settlements."

Liberty Mutual Group Reports Fourth Quarter and Full Year 2005


Liberty Mutual Group Reports Fourth Quarter and Full Year 2005 Results (Business Wire via Yahoo! Finance)
BOSTON----March 1, 2006--Liberty Mutual Group today reported net income of $253 million and $1.027 billion for the three and twelve months ended December 31, 2005, respectively, representing decreases of $312 million and $218 million from the same periods in 2004.

Insurance vetted for losses from animal forays (Jakarta Post) The


Insurance vetted for losses from animal forays (Jakarta Post)
The government is considering providing life and property insurance for people living in jungle areas prone to rampages by wild animals. The plan is expected to help curb the killing of the animals after they stray into human settlements because of the loss of their habitat.

U.S. to give some Wittig assets to Westar (Victoria Advocate)


U.S. to give some Wittig assets to Westar (Victoria Advocate)
The prosecutors filed a joint motion with Westar splitting up millions of dollars in property, stock and other payments that a jury ordered former Chief Executive David Wittig to forfeit last year, following his conviction for wire fraud, conspiracy, money laundering and circumventing internal controls at the largest electric utility in Kansas.

AIDS-care agency losing grant (Miami Herald) Broward County commissioners voted


AIDS-care agency losing grant (Miami Herald)
Broward County commissioners voted Tuesday to cut off about $1 million in annual funding to a struggling healthcare agency that helps people with AIDS.

Insurance vetted for losses from animal forays (Jakarta Post) The


Insurance vetted for losses from animal forays (Jakarta Post)
The government is considering providing life and property insurance for people living in jungle areas prone to rampages by wild animals. The plan is expected to help curb the killing of the animals after they stray into human settlements because of the loss of their habitat.

Glavin becomes head of individual insurance group at MassMutual (BizJournals)


Glavin becomes head of individual insurance group at MassMutual (BizJournals)
William F. Glavin Jr., chief executive of Babson Capital Management LLC, has taken over the individual insurance group at parent company Massachusetts Mutual Life Insurance Co.

Investment gains for all life insurance firms (Bangkok Post) The


Investment gains for all life insurance firms (Bangkok Post)
The Insurance Department will seek the approval of the caretaker commerce minister Somkid Jatusripitak next month to allow life insurers to invest in real estate and expand allowed investment of non-life companies in other firms to 15% from the current 10%.

The ID Thief Under Your Roof (The Motley Fool) A


The ID Thief Under Your Roof (The Motley Fool)
A real-life Hollywood-ready drama reveals the shocking truth about identity fraud and the relationship between victims and perpetrators.

Business events this week (Canadian Press via Yahoo! News) (CP)


Business events this week (Canadian Press via Yahoo! News)
(CP) - Business events scheduled for the week of Feb. 13-17 (weekdays only):

Health plan gets a boost (The Olympian) Budget negotiators released


Health plan gets a boost (The Olympian)
Budget negotiators released details of a budget deal at the Capitol on Tuesday that would raise state spending by $627 million and include unexpected increases in the number of slots in the Basic Health Plan for the working poor in the next 15 months.

Liberty Mutual Group Reports Fourth Quarter and Full Year 2005


Liberty Mutual Group Reports Fourth Quarter and Full Year 2005 Results (Business Wire via Yahoo! Finance)
BOSTON----March 1, 2006--Liberty Mutual Group today reported net income of $253 million and $1.027 billion for the three and twelve months ended December 31, 2005, respectively, representing decreases of $312 million and $218 million from the same periods in 2004.

National Western Life Announces Fourth Quarter and 2005 Earnings (PR


National Western Life Announces Fourth Quarter and 2005 Earnings (PR Newswire via Yahoo! Finance)
Ross R. Moody, President of National Western Life Insurance Company , announced today fourth quarter 2005 consolidated net earnings of $16.8 million, or $4.60 per diluted share. For the year ended December 31, 2005, the Company reported consolidated net earnings of $77.3 million, or $21.24 per diluted share, compared with $122.2 million, or $33.91 per diluted share, reported a year ago.

U.S. to Give Some Wittig Assets to Westar (AP via


U.S. to Give Some Wittig Assets to Westar (AP via Yahoo! News)
Federal prosecutors on Tuesday agreed to give Westar Energy Inc. some of the cash and assets turned over by a former executive found guilty of defrauding the Kansas utility.

Don't settle for this insurance stock's pumped-up prices (Boston Herald)


Don't settle for this insurance stock's pumped-up prices (Boston Herald)
The latest issue of Investment Trader Trends to arrive in the mailbox promised hot new investments for 2006, a new market sector that you can't afford to ignore, and a stock that could yield a staggering...

New Orleans Begins Emotional Home Demolitions (WSB-TV 2 Atlanta) Emotions


New Orleans Begins Emotional Home Demolitions (WSB-TV 2 Atlanta)
Emotions ran high as the first of 118 planned home demolition jobs started Tuesday in New Orleans.

Delta Financial Reports Fourth Quarter and Full Year 2005 Results


Delta Financial Reports Fourth Quarter and Full Year 2005 Results (Business Wire via Yahoo! Finance)
WOODBURY, N.Y.----March 1, 2006--Delta Financial Corporation today reported its financial results for the three and twelve months ended December 31, 2005.

Bharti to venture into life insurance by June end (Hindustan


Bharti to venture into life insurance by June end (Hindustan Times)
Bharti Enterprises is planning to venture into the life insurance sector with French major Axa by June end, Group Chairman Sunil Mittal said on Tuesday.

Jury clears auto body shop (San Mateo County Times) REDWOOD


Jury clears auto body shop (San Mateo County Times)
REDWOOD CITY An auto body shop owner was cleared of fraud last week, more than a year after his and 13 other auto body shops were targeted in an insurance sting.

Business events this week (Canadian Press via Yahoo! News) (CP)


Business events this week (Canadian Press via Yahoo! News)
(CP) - Business events scheduled for the week of Feb. 13-17 (weekdays only):

Gulf Coast Govs. Want More Hurricane Aid (AP via Yahoo!


Gulf Coast Govs. Want More Hurricane Aid (AP via Yahoo! News)
Texas Gov. Rick Perry, a Republican who holds George W. Bush's former job, told Congress Tuesday the federal government has turned its back on the Lone Star State. He demanded an additional $2 billion to repair damage and other hurricane-related costs in Texas.

Bharti's insurance foray by June end (The Hindu) NEW DELHI:


Bharti's insurance foray by June end (The Hindu)
NEW DELHI: Bharti Enterprises on Tuesday said that it expected to start its life insurance venture with French major Axa by June end. The Foreign Investment Promotion Board has already cleared Axa's proposal to infuse Rs 24.55 crore for its 26 per cent stake in the proposed joint venture last week.

Matthew Winter Named President and Chief Executive Officer of AIG


Matthew Winter Named President and Chief Executive Officer of AIG American General Life Companies (Business Wire via Yahoo! Finance)
NEW YORK----March 3, 2006--American International Group, Inc. has announced that Matthew Winter has been named President and Chief Executive Officer of AIG American General Life Companies .

Three IIAG-supported Bills Introduced in Georgia Legislature (Insurance Journal) The


Three IIAG-supported Bills Introduced in Georgia Legislature (Insurance Journal)
The Independent Insurance Agents of Georgia suggested three bills that have been introduced to the Georgia Legislature to address Certificates of Insurance for subcontractors and workers' compensation

Documents already seen by underwriters are not confidential: U.K. court


Documents already seen by underwriters are not confidential: U.K. court (Business Insurance)
LONDON Underwriters at Lloyd's of London should be allowed access to clients' placement and claims files even if insurance buyers do not agree to disclose the documents, the U.K. Court of Appeal ruled last week.