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Insurance Australia to Report Loss, Retreat From U.K. (Update1) (Bloomberg.com)
July 9 (Bloomberg) -- Insurance Australia Group Ltd. , the insurer that rejected a takeover offer from QBE Insurance Group Ltd. in May, will report a loss and cut dividend payments as it retreats from the U.K. market.

Insurance Australia to Report Loss, Retreat From U.K. Market (Bloomberg.com)
July 9 (Bloomberg) -- Insurance Australia Group Ltd. , the nation's largest auto and home insurer, said it will report a loss and cut dividend payments as it retreats from the U.K. market.

Wells Fargo Insurance buys American Med-Scan (AP via Yahoo! Finance)
Wells Fargo Insurance Services Inc., an insurance brokerage unit of Wells Fargo & Co., said Tuesday it acquired Carmel, Ind.-based insurance broker American Med-Scan Inc.

New Jersey expands health insurance reach (AP via Yahoo! Finance)
New Jersey on Tuesday expanded a government health insurance program to cover more low-income families and provide coverage for all children in the state.

Calif. doctor gets 10 years in insurance fraud (AP via Yahoo! Finance)
A Southern California doctor was sentenced to 10 years in federal prison for billing health insurance companies more than $9 million in unnecessary surgical procedures, prosecutors said.

New Flood Maps Mean Big Insurance Bills For Nassau (WCBS-TV New York)
Big changes are coming to Nassau County. Newly redrawn flood zones will force thousands of South Shore homeowners to buy pricey flood insurance. But if you act fast, you could save big. James Callahan, Commissioner of the Nassau County Office of Emergency Management, just received new flood maps a few weeks ago from the Federal Emergency Management Agency.

Pa. insurance merger hearings focus on competition (The Philadelphia Inquirer)
Executives of two Pennsylvania-based Blue Cross insurance companies were hammered about whether they would compete with each other if they were not allowed to merge, as hearings opened today in Pittsburgh on their request to join forces.

Wells Fargo buys Indiana insurance firm (BizJournals)
Wells Fargo Insurance Services Inc., a subsidiary of Wells Fargo & Co., said Tuesday that it has acquired American Med-Scan Inc. of Carmel, Ind.

 

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