Catastrophic tornados trample the South and Midwest, claiming 33 lives

An outbreak of deadly and devastating tornadoes wrought havoc in many Southern and Midwest states over the weekend. The disasters began on Friday last week. The tornadoes struck a major blow to four states: Kentucky, Indiana, Ohio and Alabama. The people in these states had little warning of the storms, which manifested at an alarmingly fast pace. The tornadoes quickly grew in intensity and caused a significant amount of damage to everything in their path. When the winds finally calmed after hours of fury, approximately 33 people were found dead.…

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Indiana to lose five different health insurers

Five individual health insurance companies, including two of the largest in the country, have chosen to stop selling their policies in Indiana, leading the Indiana Department of Insurance to ask that certain elements of the reform law of 2010 be phased in. The third and fifth largest health insurance companies in the United States, Aetna Inc., from Hartford, and Cigna Corp., from Philadelphia, have decided that they will no longer be taking part in the market for individual health insurance in Indiana. Moreover, American Community Mutual Insurance Co., from Michigan,…

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Conseco Life rate increase shot down

Conseco Life rate increase shot down

A federal court judge in California has rebuked Conseco Life Insurance Co., ruling against them in a class action suit. The ruling will prohibit the insurer from tripling its rates on nearly 50,000 life insurance policies sold in the late 80’s into the mid 90’s. The decision was made on Wednesday. The case began in 2002, when the Indiana Department of Insurance voiced their worry about the insurers’ ability to manage itself appropriately. Conseco filed for Chapter 11 bankruptcy protection that year after it failed to acquire a competing insurance…

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