| Talk of the bay: Home insurers insulated from financial crises
Despite the slump in the housing market, it looks like it'll be another good year for the property insurance industry. According to a report Wednesday by rating service A.M. Best, the industry saw net income rise 4.4 percent through the first nine months of 2007, driven largely by underwriting profits and investment returns. Net income was $49.8-billion, up from $47.7-billion for the same period a year ago. How did Florida do? Quite well, thank you. Initial reports show the industry had profits of at least $3.4-billion last year. WellCare yanks its Connecticut deal WellCare Health Plans of Tampa has told Connecticut state officials thanks, but no thanks. As of March 1, WellCare will end its Medicaid contract with Connecticut, which covers about 35,000 people and brought in $57-million in revenues during the first nine months of 2007.
Minnesotans could save billions in health care costs, task force says
Gov. Tim Pawlenty said there's much he likes in the wide-ranging recommendations he received Tuesday from a task force he appointed to find ways to improve health care in Minnesota. But he stopped short of endorsing some of the panel's recommendations, such as requiring Minnesotans to buy health insurance or raising the cigarette "health-impact fee" to discourage smoking. "I think we've done enough to smokers for now" by banning smoking in most bars and restaurants and adding the 75-cent fee, he said. And requiring everyone to have insurance might "criminalize poor people" who can't afford it, he added. Still, Pawlenty said the task force report "can be the framework for a significant health care reform initiative in Minnesota." The broad range of recommendations would link doctors, hospitals, employers, patients, insurers, schools, communities and policy makers in initiatives aimed at paring $12.3 billion from health care costs otherwise projected to soar from about $30 billion now to $57.4 billion by 2015.
Hospital struggles to keep up as tornado recovery begins
MOUNTAIN VIEW (AP) — No one suffered as much as a scratch when a tornado lifted the roof off Stone County Medical Center, even though the nurses who were holding down the patients said they felt like they were being sucked out of the building. Hospital Administrator Karen Craft said Thursday that kind of luck likely won't continue as victims clear debris and rush to rebuild from Tuesday night's storms. The main building of the only hospital in the county sustained heavy damage and can't be used, as did some clinics in separate buildings on the campus. But the tornado largely spared a newly built surgery center, which is serving as a makeshift emergency room. “Right now, we're triage, treat and transfer," Craft said, sitting in a maintenance shed that workers were converting so it could be used as office space.
Obama trounces Clinton in three primaries
Democrat Barack Obama's three decisive wins over Hillary Clinton propelled him into the next round of presidential contests on a wave of momentum yesterday and sent his rival scrambling to find an answer. Obama and Republican front-runner John McCain cruised to victories in Virginia, Maryland and the District of Columbia on Tuesday, with McCain moving closer to clinching his party's nomination for the November election. Obama extended his hot streak to eight consecutive wins over Clinton in a hard-fought presidential campaign that appears to be tipping his way. The victories allowed Obama to expand his lead in pledged convention delegates, who will select the Democratic Party's nominee at its August convention. .
Asian Bourses Trade Weak On Continued U.S. Economic Concerns - Asian ...
2/10/2008 10:30:40 PM Monday, stock markets across the Asia Pacific region were trading weak on continued concerns about the health of the U.S. economy. Shares in South Korea opened sharply lower after a long holiday break, while in Sydney, banking stocks led the decline on concerns about the financial sector. New Zealand shares were trading in negative territory, tracking the weak Wall Street lead and on disappointing financial results from market leader Telecom. Hong Kong, Singapore and Indonesia are also trading in the red. Malaysian stocks were trading flat after a four-day break. The Japanese, Chinese and Taiwanese stock markets remained closed for a holiday.
South Korean stocks opened sharply lower after a long holiday break, tracking the negative Wall Street lead. The benchmark KOSPI Index was losing 54.91 points or 3.24% to 1,641.66.
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