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Boston-based Liberty Mutual acquires Quinn’s Irish insurance business

Written on November 18, 2011 – 1:23 am | by Sebastian Braim

Boston-based diversified insurer Liberty Mutual Group has acquired Quinn’s Irish insurance business.

The company, to be known as Liberty Insurance, will continue to operate from existing offices in Cavan, Dublin and Enniskillen, with Cavan as the headquarters.

All existing Quinn Insurance employees will be transferred to Liberty Mutual’s new Irish company, which plans to trade under the name of Liberty Insurance.

Liberty Insurance said it plans to build on Quinn Insurance’s position in the Irish market and provide enhanced services to appeal to a broader spectrum of Irish consumers, families and businesses.

Liberty Mutual Group president and CEO David Long said this acquisition enables the company to enter the Irish market as the economy begins to recover.

“We are also delighted to welcome our newest employees to the Liberty Mutual family and we look forward to their contributions to our success in Ireland and the UK,” Long said.

Liberty Mutual Group offers a wide range of insurance products and services, including personal automobile, homeowners, workers compensation, property, commercial automobile, general liability, global specialty, group disability, reinsurance and surety.

Tags: Business, Insurance Business, Irish Insurance, Irish Insurance Business

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Term Life Insurance And The Different Types Of Insurance Available

Written on November 17, 2011 – 9:57 pm | by Gabrielle Scanlan

You can find an insurance policy to cover just about anything conceivable however only a handful of policies are in fact ones you need to have. You work hard in the course of your own life to build wealth and live a happy and comfy existence, so some kinds of insurance can protect your belongings, income and even provide for a family member if you are gone.  Anything thats treasured and you want to protect can be insured. Yet broadly speaking, youll find 6 kinds of insurance you can take advantage based on your need as well as ability.

 

One of the most essential types of insurance to have is health insurance. Your great health is exactly what permits you to do the job and earn money and otherwise delight in life. I

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Tags: Insurance, Insurance Available

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New York orders 11 health insurance companies to refund $114.5 million

Written on November 13, 2011 – 8:37 pm | by Hunter Rankine

New York state officials ordered 11 health insurance companies to refund $114.5 million to policyholders who were overcharged for premiums in 2010.

The policies in question covered 573,748 people.

Under New York state law, health insurance companies must spend 82 cents of every dollar collected in premiums on providing medical care. If they don’t meet this requirement, known as the medical loss ratio, they must refund the difference to policyholders. The amount over the 82 percent threshold goes to insurer overhead, administrative expenses and profit.

Refunds have already been made to health insurance policyholders in the small group and individual, direct-pay market. The state’s Department of Financial Services instructed insurers to make refunds to policyholders in the large group market–groups with 51 or more policyholders–by Dec.

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Tags: Health Insurance, Health Insurance Companies, Insurance Companies, Million

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India’s Karnataka State Govt Loans To Lic For Issue Of Bonds

Written on November 9, 2011 – 7:08 am | by Sebastian Braim

BANGALORE – India’s Karnataka state government has released Rs 436 crore (US$87.71 million) to LIC for issuing bonds to beneficiaries selected under ‘Bhagaylakshmi’, the girl child insurance scheme.

The amount was released a fortnight ago, state’s Minister for Women and Child Development C.C Patil told reporters here.

Tags: Bonds, India’s Karnataka, India’s Karnataka State, Karnataka State

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Travelers Settles To Give Mass. Bikers $5 Million In Refunds

Written on November 9, 2011 – 2:20 am | by Hunter Rankine

The Travelers Cos. agreed this week to settle with Massachusetts and pay $5 million in refunds to motorcycle owners who were allegedly overcharged on their insurance premiums.

This is the most recent in a string of settlements with insurers totaling nearly $40 million that will be refunded to motorcycle owners in Massachusetts. Some of the companies sent refund checks last year and others, including Travelers, will start mailing checks this month.

Massachusetts Attorney General Martha Coakley’s office settled with fifteen insurers who allegedly overcharged on collision and comprehensive coverage of motorcycles.

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Tags: Refunds

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Wedding Insurance – A Case Of Leaves On The Line?

Written on November 3, 2011 – 4:25 pm | by Hunter Rankine

We are all conditioned to protect large financial risks in our lives from taking advice from our parents, grandparents and older relatives who have trodden the path before us. This is how we have made decisions about mortgages, house insurance and insuring our vehicles. Unfortunately, our parents did not have the facilities to take out wedding insurance, because there wasn’t anybody offering it. So it seems that the natural progression of passing on wisdom has failed in this instance, which is a shame, because weddings are usually our third biggest financial investment throughout our lives.

Even in these times of so-called austerity, we can still expect to stump up around £15,000 for a traditional wedding. Th

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