How to Choose the Right Health Insurance — and a Good Doctor

Every year, whether it be as an individual or as an employer, we must make a decision about health insurance — and along with that choice comes picking the group of doctors and hospitals that will deliver most of our care.

 

For some, this process is purely about affordability. But for others, it is also about coverage and providers. If you are among those with real options, there are certain considerations that should help guide your decision.

Let's start with where will you be able to be hospitalized for elective procedures. Although most people know at which hospitals they want to be cared for, not everyone is so lucky.

Growing up in Paramus, N.J., my parents taught me from a young age that if something ever happened to me, I should ask the ambulance driver to take me to Hospital A in the area and not B.

As a kid, I only knew what I heard;

UIF boss backs Cosatu’s call to cast net wider

THE commissioner of the cash-flush Unemployment Insurance Fund (UIF) believes it has the means to expand its net of beneficiaries to include seasonal, informal and temporary workers, as suggested on Wednesday by the Congress of South African Trade Unions (Cosatu).

 

The first step in this process has been taken with the tabling of the Unemployment Insurance Amendment Bill in Parliament, which proposes to extend unemployment benefits from eight months to 12 months, as well as other more generous measures.

UIF commissioner Boas Seruwe said on Wednesday the inclusion of the self-employed would be considered next, followed by other categories of workers.
Mr Seruwe said expanding the net of beneficiaries had been discussed during National Economic Development and Labour Council (Nedlac) deliberations on the bill.
Mr Seruwe noted that, with R120bn in accumulated reserves, the fund had ample resources to extend benefits.

You don’t need a Drunk Driving conviction to have an Insurance Claim Rejected

IF YOU are planning to see in the new year with a glass or four of bubbly‚ or something stronger‚ best you make plans to ensure that you won’t be getting behind the wheel afterwards.

 

You have a good chance of killing or injuring yourself and others‚ of course. But even if you’re involved in a relatively minor‚ no-injury car crash‚ you could be left to foot a hefty repair bill yourself‚ because your insurer won’t pay out a motor accident damage claim if they find out you were over the legal limit at the time of the crash.

Tragedy of Education set for repeat in unhealthy farce

IN 1995, buoyed by an overdeveloped sense of boundless possibilities, SA embarked on much needed reform of our racially segregated, unequal education system. The African National Congress (ANC) settled on a first-class Rolls-Royce curriculum that was called outcomes-based education, grafted on to third-class infrastructure and — save for those at the nation’s elite public and private schools — a desperately underprepared teacher corps. The result was as predictable as it was tragic: today our education rankings are among the worst in the world.

Health clinic

With National Health Insurance (NHI), we are about to do exactly the same. This time, we do so with our eyes wide open amid unprecedented economic and political gloom, repeating history not once, as a famous 19th-century political economist once said, but twice: the first time as tragedy, the second time as farce. Henry Kissinger once remarked that learning from history is everything, and the principal lesson of the past 20 years of democracy is to bite off only as much as you can chew, or there may be nothing to chew on at all.

Franny’s blames Obamacare for rise in pizza price

president Obama is being blamed for the rising price of Brooklyn pizza.

 

The owner of the beloved Park Slope pie and pasta joint Franny’s says the President’s signature health care law is forcing her to tack on 3% to all checks to offset the $200,000 cost of federally mandated insurance for her 50-plus employees.

Insurance hits Policies sales, through Mobile phones

Mobil / Insurance

More people are signing up for insurance products using their mobile operator, thereby deepening the penetration rate for micro-insurance in the country over the past three years.

A 2014 National Insurance Commission (NIC) study found that 28 percent of people have a micro-insurance product either through a mobile operator, savings account, or in a loan product.

RSA complained on Zurich Insurance abandons plans for bid

The Swiss insurer announced in July that it was considering buying its British counterpart for £5.6bn.

RSA said that the approach had been unsolicited but that Zurich's decision not to proceed had not been a result of anything unexpected in the due diligence process.

Zurich warned profits in its general insurance arm would miss forecasts.

"Given the deterioration in profitability in certain parts of the General Insurance business, and following his appointment as General Insurance CEO, Kristof Terryn is conducting an in-depth review of the business," Zurich said in an update on third quarter trading.

Consolidated Hallmark hits N205.6m profit as GP rose - Reports

Underwriting firm, Consolidated Hallmark Insurance (CHI) plc has recorded a gross premium written income of N4.61 billion in the financial year ended December 31, 2014, an increase of 11.08 percent from N4.15 billion in 2013.

 

This resulted to a profit before tax of N205.6 billion in the review year as against a negative position of N178.2 million in the previous year, while the profit after tax also grew remarkably from a loss position of N197.7 million in 2013 to N193 million in the review year.

Insurance Customers benefit, as Insurers move to settle claim liabilities

NAICOM maintains September 31 deadline Insurance customers that had their claims repudiated or in legal controversy for one reason or the other after a loss, are being settled as insurers clear outstanding liabilities ahead of September 31 deadline, given by the National Insurance Commission (NAICOM).

Insurance

BusinessDay investigations reveal that some insurers are currently moving around the country, presenting cheques and realigning with their customers.
One of the customers, who received a cheque, appreciated the commitment of NAICOM towards customer protection.
She said she had lost hope after her claim was repudiated for some reasons she said were insignificant.

Insurers request the National Flood Policy to Reduce Citizen’s Exposure

As Nigeria enters the high point of its rainy season, insurers are concerned about the rising level of exposure to flood risks for individual homes and businesses without adequate cover.

Though the level of awareness is low as a result of shortage of data to measure exposure, experts  believe that having a national insurance flood policy would spur insurers to provide appropriate policies, as well as intensify awareness to cover affected areas and critical investments. Some of the operators who spoke to BusinessDay last night, stated that the exposure is big but still unquantifiable due to lack of data.

UK Prudential, S/African Liberty, 10 others push for Nigerian insurance market

Top international insurance firms, among them, Liberty Group of South Africa and Prudential Life Company of UK are at advanced stages in their push to enter the Nigerian insurance market, BusinessDay investigations show.

The firms which have expressed the desire to position in Nigeria which is expected to lead the continent’s underwriting market in the next two years, ahead South Africa and Egypt, are already meeting regulatory authorities.

BusinessDay investigations show that 12 other foreign firms are currently in talks with the regulator, the National Insurance Commission (NAICOM) in the quest for a stake in the country’s growing market.

NAICOM is however said to favour  investors in search of acquisitions, rather than those looking for  new licenses.

The development is expected to make the market which currently ranks second in the continent, behind South Africa, to take the lead.

Nigeria’s insurance industry, with 60 underwriters, raked in over N300 billion premium in 2013 on the strength of growing confidence and adherence to strict corporate governance, which now endears it to foreign direct investors.

“In the last six months, we have had more than 12 enquiries from foreign companies that want to operate here and we have told them that we are not giving out new licenses but we prefer the acquisition of an existing company” said Fola Daniel, the insurance commissioner.

Three Nillion Nigerians have Insurance Policies

 

The Commissioner for Insurance, Fola Daniel, on Tuesday said over three million Nigerians have insurance policies.

Daniel, while commenting on efforts by National Insurance Commission (NAICOM) to ensure better penetration of insurance in the country, revealed that Nigerians holding insurance policies earlier were less than a million.

Insurance Industry Loses $750m to Premium Flight Annually

The nation’s insurance industry is losing over $750 million annually to premium flight as result of shortage of capacity to retain most of the risks emanating from the local market, BusinessDay investigations reveal.

This is moreso in the volatile oil and gas sector, energy and aviation, where barely 30 percent of the risks are retained locally, in spite of opportunities presented by the National Content Development Act.

Investors advised to explore REITs as alternative real estate financing

 

 Investors in real estate and general infrastructure have been advised to leverage Real Estate Investment Trusts (REITs) as a viable alternative to traditional sources of project financing.

NAICOM dissolves International Energy Insurance board

The National Insurance Commission (NAICOM) has dissolved the board of the International Energy Insurance (IEI) following allegations against some directors of the company, among others.

In its place, a three member interim board has been appointed to oversee the affairs of the company while necessary investigation is being conducted.

NAICOM moves to Implement RBS despite Operators’ Resistance

Insurance regulator, the National Insurance Commission (NAICOM), says it was going ahead to implement its Risk Based Supervision (RBS) initiative despite resistance from some operating companies.

5 types of insurance you don’t need

You know that insurance is a necessity in some cases. By law, you are required to purchase car insurance, and health insurance can protect against major (and possibly financially devastating) health problems and costs.

Other types of insurance, like life and disability, can be very helpful in securing your family’s future, depending on your particular situation. However, there are plenty of folks out there ready to sell you insurance that you might not actually need. While you might gain some protection from these types of insurance, they may be wholly unnecessary. Here are 5 types of insurance to think twice about:

1. Mortgage Life Insurance

Traders Shun Insurance Policy, say operators not sincere

LAGOS- Despite heavy losses incurred by traders in Lagos in some recent major market fire outbreaks, many of the traders are still reluctant to insure their products and businesses, investigations by the News Agency of Nigeria (NAN) has indicated.

Over five major markets in Lagos have experienced fire outbreaks in the last one month, resulting in losses worth billions of naira.

However, in separate interviews with NAN in Lagos, many of the traders said they would not insure their businesses because they believed that insurance companies were not sincere.