Path: bloom-picayune.mit.edu!snorkelwacker.mit.edu!news.media.mit.edu!americast.com!usa-post
Newsgroups: usa-today.insur
From: usa-post@AmeriCast.Com
Organization: American Cybercasting
Approved: usa-post@AmeriCast.com
Subject: insur Mon, Mar 16 1992
Date: Mon, 16 Mar 92 05:48:19 EST
Message-ID: <ns.insur.1992Mar16.054819@AmeriCast.com>

03-16 0000
DECISIONLINE: Insurance
USA TODAY Update
March 16, 1992
Source: USA TODAY:Gannett National Information Network
    
BILL FOR MINERS PASSED:
   Non-union coal companies would pay $230 million to a 
debt-ridden health care fund for miners under a provision of a tax 
bill that passed Friday. Over $100 million in debt, the fund, 
created by President Truman 46 years ago, guarantees 
cradle-to-grave health care for nearly 120,000 miners and widows. 
A deficit of $300 million is projected by 1993.
    
N.Y. URGED TO SEEK BALANCE:
   Fearing a loss of jobs, a New York State legislative commission 
will review workers' compensation rate levels and how the system 
can be improved. Expected increases in state workers' comp 
benefits need to be balanced with rate increases to keep employers 
in the state, according to an insurance industry representative.
    
RAA RELEASES REINSURER INFO.:
   According to a survey conducted by the Reinsurance Association 
of America, a group of 60 professional property:casualty 
reinsurance companies wrote $11.5 billion of net premiums in 1991, 
a 7.45% increase from the $10.7 written by the group last year. 
Call 202-292-3335 for more information on the survey.
    
MAINE PLAN SEEKS COST SAVINGS:
   A new payment method for services provided at independent 
clinical labs is expected to save Blue Cross and Blue Shield of 
Maine customers approximately $1.2 million this year. The new 
payment arrangement will apply to independent labs - facilities 
that conduct tests to aid in the diagnosis or treatment of 
diseases.
    
LAB COSTS INCREASE:
   In the past, BCBS of Maine has paid 100% of charges submitted 
by independent labs. Under a new method, the plan has established 
specific allowances as the maximum payment for lab services. The 
plan now will pay 100% of the lab charge or the allowance, 
whichever is less. Plan payments to independent labs have grown 
from $1.9 million in 1987 to $3.5 million in 1990.
    
CHECK WINDSHIELD COVERAGE:
   Comprehensive insurance will cover, among other things, a 
windshield in the event that it cracks or is shattered. And some 
windshields are not cheap, to say the least. The most expensive 
windshields fit 1986-87 Buicks, Oldsmobiles and Cadillacs, and 
cost $1,339 each, according to Runzheimer International.
    
STATE FARM CHALLENGES DECISION:
   Nevada Insurance Commissioner Teresa Rankin has granted State 
Farm Mutual Insurance Co. an April 7 rehearing on a rate hike 
decision. The insurer is challenging Rankin's January decision to 
award the company a 4.9% increase in its auto insurance rates.  
State Farm, Nevada's largest insurance company with 165,000 
customers, had sought a 9.8% increase.
    
STATE FARM WANTS 9.8% HIKE:
   Last week, State Farm attorney Niels Pearson said the company 
likely would seek a rate increase higher than 9.8% in Nevada. In a 
December hearing, State Farm executives said the company had lost 
$45.6 million in Nevada since 1989. An upcoming rehearing will be 
open to the public.
    
FDA PANEL OK'S DRUG:
   The Food and Drug Administration soon could approve a drug to 
shrink an enlarged prostate gland, possibly preventing surgery for 
the common ailment. An advisory committee to the FDA has 
recommended approval of the drug; the agency generally follows the 
recommendations of its advisory committees.
    
WESTERN INFLUENCE HURTING GUAM:
   Guam has the highest death rates from heart disease and cancer 
in Micronesia and Polynesia as a result of Westernization, a 
health official says. Westernization has replaced the traditional 
Chamorro diet of root crops, fish and coconuts with processed 
foods, and people are exercising less.
    
WILLIS LINKS WITH SWEDISH BROKER:
   Willis Corroon, London, and TAC Groep BV of the Netherlands 
have agreed to share ownership and management of Dutch broker CV 
Assurantiebedrijf Gebroeders Scheuer. Under the agreement, Willis 
Corroon's stake can be increased to 100% on the basis of a 
profit-related formula.
    
Insurance Editor: Michele Coleman. (1-919-855-3491) Making copies 
of USA TODAY Update (Copyright, 1992) for further distribution 
violates federal law.
    

This article is copyright 1992 Gannett News Service.  Redistribution to
other sites is not permitted except by arrangement with American 
Cybercasting Corporation.  For more information, send-email to 
usa@AmeriCast.COM