| Insurance Costs Become 3rd Storm
NEW ORLEANS -- Robert Lynn Green Sr.'s sign stands outside his FEMA trailer here in the Lower 9th Ward, a neighborhood flooded after Hurricane Katrina, proclaiming: "If You Build It They Will Come." It's a vision of hope, of faith, of recovery. Yet that vision is ever more elusive for people here. In this once-vibrant community, still largely shuttered 19 months after Katrina, empty tracts stretch for blocks. The rebuilding of Green's neighborhood and others in Louisiana and Mississippi hinges on many factors, including the need for more construction aid. But perhaps nothing has slowed rebuilding more than the rising cost and fading availability of insurance. Homeowners and business owners say their premiums have doubled or tripled since Katrina. Businesses are delaying rebuilding. Workers have been slow to return.
Arson gives cash-strapped homeowner hope
John D. Lummis and his ex-wife Cynthia Macbeth own a house where Lummis lived with his girlfriend, Beth Howe, and her three children. "Lummis was in a financial bind: between the $1,300 a month garnished from his wages in order to pay child support for four of his six children, and supporting Howe and her three children, he had not made a mortgage payment for almost two years." The mortgage holder, Cendant Mortgage Co., had been paying the premiums on the State Farm homeowner's insurance policy. On Feb. 5, 2003, Cendant obtained a mortgage foreclosure decree on the house. The next day, the house burned to the ground. Purchase Bob Bruss reports online. Howe called 911 to report the fire around noon. She then phoned Lummis at work. Lummis's boss offered him a ride home immediately.
Insurers must honor their commitment
Will your insurance company be there when you need it most? That's what you assume when you buy insurance. You pay a premium so that when something goes wrong, your insurance company will pay for your covered losses. Unfortunately, that is not happening in Washington state. Our system is broken. As a former senior claims adjuster for Farmers Insurance Exchange and a nationally recognized claims practices expert, I know firsthand to what lengths insurance companies will go to save money by not paying claims. Many insurance companies tie employee salaries and bonuses to practices that encourage and condone the delay, denial, underpayment and forced litigation of claims. The Insurance Fair Conduct Act, now being considered by the Washington Legislature, would make the insurance claims system more fair for consumers in Washington state.
Warren Buffett's Latest Play
Sydney, Apr 10, 2007 (ACN Newswire) - Last month when we looked at the investments and other activities of Warren Buffett's Berkshire Hathaway, there were two unidentified holdings in which the company was building a position.The list was of investments with a market value greater than $US700 million. He told shareholders in his letter the two exceptions had a combined market value of $US1.9 billion but he didn't disclose their names "because we continue to buy them. I could of course, tell you their names. But then I would have to kill you.''Late last week Berkshire revealed it had built a 10.9 per cent stake in that most unfashionable of companies, the huge Burlington Northern Sante Fe railway and transport company (BNI) which now had a market value of $US 3.2 billion.Berkshire says it now owns 39 million shares of the second-largest US railroad as of April 5.The deal has surprised analysts who point out that the US railroad industry is fully priced at the moment with good operating margins and high valuations by investors.Buffett's stock purchases make him the largest shareholder, ahead of Marsico Capital Management LLC, which owned 32 million shares for an 8.9 percent stake in December.US brokers said Berkshire would have had to disclose the rail stake upon exceeding a 5 per cent threshold if Buffett was purchasing the Burlington Northern shares with the intent of making a takeover bid, seeking a board seat, or otherwise influencing management.But passive investors can wait until the end of the year to report 5 per cent holdings, but investors do have to file with the SEC within 10 days of reaching or exceeding a 10 per cent stake.According to the filing, Buffett paid $US81.18 to $US81.80 in three transactions on April 4 and April 5.
Geico cavemen could have competition
"Perfect Strangers 2": Declining desktop computer profit margins force the PC guy and the Mac guy (Justin Long, above) to move in together. And, back from obscurity as the Wacky Neighbor, the "Dude, You're Gettin' a Dell" guy. "Miller Time": Burt Reynolds leads an unconventional private detective agency that exists solely to bring Man Law-breakers to justice. .
Grand designs for your home? Get a secured loan
Brits are planning home improvements worth many, many billions of pounds to give them their own 'grand design', according to new Halifax research.An estimated 11 million households in the UK have a big idea about how they'd like to transform their home, with transforming the garden the most popular option.In total all these plans would cost an impressive £153 billion, bringing the average makeover budget in at just over £13,000 – a very affordable amount of money to borrow as a secured loan or homeowner loan."Whilst well planned and executed home improvements can add significant value to a home, getting it wrong can be a disaster. We'd advise anyone planning any major improvements to their home to employ qualified and reputable tradesmen, rather than going it alone," said Vicky Emmott from Halifax."Indeed trying to tackle certain areas that you are not qualified for, such as electrics or plumbing, could invalidate your home insurance and leave you liable for the cost of any subsequent damage," she advised.Given that more than four million UK homeowners admit they've made a serious DIY mistake, it is definitely best to pay a little extra and get the experts in.The initial extra expense is more than offset by the reduced stress and risk of damage, and all such costs can be easily rolled into small monthly payments with a secured loan or homeowner loan.© Adfero Ltd .
Healthy living isn't always easy or affordable
Annette Medina didn't know that asking for a raise would mean the end of health insurance for her 11-year-old son, but that's what happened when she started earning an extra dollar an hour. The pay hike, though modest, put her over the limit to qualify for New York state's Child Health Plus plan. The premium to keep her son insured went from $15 a month to $172. That tops the $140-a-month raise - and is more than she can afford. "The way the health system works is not fair. A lot of people want to be working, but they end up having not to work because they want their kids to have health insurance. So they'll work under the table, or at a low salary, just so that they can have the insurance," said Medina, a 40-year-old single mother who supports her son though her job as a medical assistant.
Vendor Notebook: Health Integrated teams with Health Plus
Health Integrated, Inc., a Tampa, Fla. -based provider of health and condition (disease) management programs, is partnering with Health Plus of New York to assist Health Plus members in managing certain chronic medical conditions through the Synergy Personal Health Management program. .
Johnson makes investors proud
AUGUSTA, GA. - They sat down in a conference room and bought Zach Johnson for 500 bucks a share. A doctor, a lawyer, a banker, an engineer, a real estate broker, a few insurance guys and the owner of a janitorial business. They drew up a contract, one that wasn't designed to make anyone rich. They already were rich enough, every one of these 12 investors who were friends and acquaintances of Johnson's father and distinguished members of the Elmcrest Country Club in Cedar Rapids, Iowa. Zach Johnson wasn't in the room. They cut a deal with the Drake University golfer, anyway, out of the goodness of their heartland hearts. Lon Feddersen, insurance man, went for four shares at two grand. The most ambitious investor purchased 10 shares at five grand. Up front, everyone was told the deal would die when Johnson made it to the PGA Tour.
UI Reflects On April 13 Tornado Anniversary
Nearly a year has passed since tornadoes tore through Iowa City, and scars from the storm remain on the University of Iowa campus. Dozens of trees have yet to be replanted. UI Fleet Services employees continue to work in a mobile home because their building was destroyed by the storm. And Alpha Chi Omega sorority sisters are living in temporary quarters until their house is rebuilt. .
A Shadow in the field
It dwindles around the December holidays, as errant spouses retreat to the comforts of hearth and family. Among other things, that means a dip in business for private investigators, who are often called on to track the movements of illicit lovers.
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Property owner says association is effective
When Ron Fraze moved from his West Coast home into a rural subdivision outside of Columbus, regulations were the last thing he wanted to live by. "I was one of the biggest rebels against the (homeowners association) board," he admits. In the 12 years since, his tune has changed. In fact, for the past four years, he has served as the association's president. "All in all, I think it makes better neighbors," he said. "Because, no matter where you live, there are laws to follow." Over the years, Fraze and former president Gene Aubrey have served as the sounding board for homeowner complaints that run from grazing to snow removal. They have also worked closely with board members to build on the strong groundwork laid by their predecessors. For any subdivision, the strength of its homeowners association rests with the will of the people involved.
Guardian Protects Business Loans if Disability Strikes: Offered in ...
Business owners who have borrowed money in order to expand their businesses will benefit from a decision by The Guardian Life Insurance Company of America (Guardian) to increase the amount of loan obligations covered in the event of a disability. Garden City, NY (PRWEB) March 22, 2007 -- Business owners who have borrowed money in order to expand their businesses will benefit from a decision by The Guardian Life Insurance Company of America (Guardian) to increase the amount of loan obligations covered in the event of a disability.
Guardian's Business Reducing Term policy will insure up to 100% of monthly loan payments -- principal and interest, provided the obligation rests with a single principle -- should a business owner become totally disabled. This represents an increase over the policy's prior level.
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