Commercial insurance prices no longer being decreased by AIG

Chartis is the property and casualty division of American International Group, Inc. (AIG).  They stopped cutting commercial-insurance rates.  Brokers say they are unable to raise prices in some markets because the insurer doesn’t have as much power as they use to. When FactSet surveyed the company, AIG made $2.57 cents a share in 2008.  Since then it has decreased to just 98 cents a share.  The insurer will report AIG’s second-quarter results to the analysts and investors. The government has bailed out AIG, which made customers and investors worry that…

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WellPoint Warns Health Insurance Applicants in 10 States Regarding Security Breach

Health Insurance

In July, 2010, America’s largest insurance provider found that a website security error may have placed customers at risk. People in ten states were exposed to this security breach. The site malfunction appears to have resulted from recent WellPoint website updates performed by an outside contractor. WellPoint’s system is regularly used by Anthem Blue Cross Blue Shield customers. In this case, the error involved the applications for health insurance processed through the website. It was discovered that data from approximately 940 applications was exposed. Using caution, WellPoint notified 470,000 of…

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New Government Health-Care Site Launched by Obama Administration

Online Insurance

Obama Health Care Reform News: For those confused or overwhelmed by the insurance options available to them and their employees, a new government website has been launched. Mandated by the new healthcare reforms, is designed to provide information on the wide variety of plans that are available. This information will be based upon your individual demographics, providing you with a specialized and informative way to compare plans. For identity protection, personal information is not required. After inputting a few details such as your age, zip code, employment status, and…

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