Insurers

Baldwin & Lyons sees quarterly profit on fewer disasters

August 2, 2012
 IBJ Staff
Indianapolis-based Baldwin & Lyons Inc. on Thursday reported a profitable second quarter, a year after a series of major natural catastrophes caused a big loss for the transportation industry insurer.
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Health insurers' anti-fraud bid seeks to ease profit-limit rule

July 27, 2012
Bloomberg News
The Obama administration Thursday announced a partnership with the industry in which WellPoint Inc., UnitedHealth Group Inc. and other insurers may try to share more billing data with the government to root out fraud.
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CEO Braly gets WellPoint board backing after cutting forecast

July 26, 2012
Bloomberg News
WellPoint Inc.'s board, reacting to criticism after the health insurer cut its profit forecast on Wednesday, said the management team led by CEO Angela Braly has its full support.
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WellPoint shares sink after profit misses analyst estimates

July 25, 2012
Bloomberg News
WellPoint Inc. stock fell more than 12 percent Wednesday after the insurer's quarterly earnings missed analyst estimates and it trimmed its full-year forecast.
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CNO Financial reports big earnings gain on higher sales

July 25, 2012
 IBJ Staff
Earnings at Carmel-based CNO Financial Group Inc. jumped 42 percent in the second quarter on higher sales of its insurance products, the company announced Wednesday afternoon.
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Insurance company key to Franciscan-American Health partnershipRestricted Content

July 21, 2012
J.K. Wall
Hospital system's health insurance unit has IT infrastructure that will allow physicians to participate in Medicare's shared savings program.
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WellPoint agrees to pay for 3 children to get gene test

July 12, 2012
Bloomberg News
WellPoint Inc. said it will pay for DNA testing for three children to see if they have an inherited heart disease their father suffers from that often strikes without warning, reversing an earlier decision to deny coverage.
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WellPoint shares jump after $4.9B deal for Amerigroup

July 9, 2012
J.K. Wall
Investors and analysts like the fact that WellPoint is playing more aggressively in government-sponsored health plans, such as Medicaid and Medicare, which are projected to be the key sectors for growth for the next several years.
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WellPoint buying managed care firm for $4.9B

July 9, 2012
 IBJ Staff and Bloomberg News
The Indianapolis health insurer is buying Virginia-based Amerigroup Corp. to expand in managed care for poor and elderly patients in the Medicare and Medicaid programs.
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High court health care decision good for some, not others

June 29, 2012
Associated Press
The Supreme Court's decision Thursday to uphold President Barack Obama's historic overhaul is expected to boost many players in the health care industry, but not every corner of the sector will benefit.
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WellPoint lowers earnings forecast after $90M legal bill

June 18, 2012
Bloomberg News
Indianapolis-based WellPoint Inc. said it is lowering its profit forecast for the year by 3 percent after reaching a $90 million settlement in a class-action lawsuit.
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WellPoint seeks to diversify by buying contacts retailer

June 4, 2012
Bloomberg News, Associated Press
WellPoint Inc. plans to buy lens retailer 1-800-Contacts Inc. in a deal worth an estimated $900 million, giving the insurer its first direct-to-consumer business outside selling individual health coverage.
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WellPoint protestors harass Braly as political disclosure proposal fails

May 16, 2012
J.K. Wall
The proposal, which sought twice-yearly reports on all the health insurer's donations used for political campaigns or lobbying, was overwhelmingly voted down by WellPoint shareholders.
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Activists plan to protest WellPoint political giving at meeting

May 15, 2012
J.K. Wall
A mix of union groups, activist investors and single-payer advocates will call for increased disclosure from WellPoint, and some investment funds will vote against WellPoint board members who they say have failed to exercise proper oversight of WellPoint’s political spending.
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Baldwin & Lyons posts record first-quarter profit

May 3, 2012
The auto and trucking fleet insurer reported profit of $11.5 million in the first quarter compared with a loss of $15.2 million in the prior-year period, when company earnings took a beating from earthquakes in Japan and New Zealand.
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CNO quarterly earnings jump on stronger sales

April 30, 2012
Chris O'Malley
CNO Financial Group Inc. on Monday reported first-quarter earnings of $59.1 million, a 30-percent increase from the $45.1 million it earned in the same quarter last year.
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Report: Rebates from health care law will top $1B

April 26, 2012
Associated Press
More than 3 million health insurance policyholders and thousands of employers will share $1.3 billion in rebates this year, thanks to health care reforms, a research group said Thursday. Indianapolis-based WellPoint Inc. is expected to return $94 million.
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WellPoint sees $100 billion 'duals' market as care shifts

April 25, 2012
Bloomberg News
Indianapolis-based WellPoint Inc. sees a $100 billion market in the states it serves to provide managed care for poor, elderly patients in the Medicare and Medicaid programs.
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WellPoint's profit falls, but beats analyst expectations

April 25, 2012
J.K. Wall
The Indianapolis-based health insurer posted first-quarter earnings of $857 million, down from $927 million in the same period a year ago.
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Trend lines look good for WellPoint

April 23, 2012
J.K. Wall
More people have jobs and yet the use of health care remains stagnant—which should drive nice profits when WellPoint Inc. reports first-quarter earnings on Wednesday. The trends even have some wondering if consumer-driven health plans are finally starting to make a real difference in Americans’ health care spending habits.
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CNO Financial expects to take $20M legal charge

April 23, 2012
The charge stems from a legal dispute involving changes in some life-insurance policies sold by subsidiary Conseco Life Insurance Co.
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Bankers Life paying $10M fine following securities probe

April 5, 2012
Cory Schouten
CNO Financial Group Inc. has agreed to pay $9.9 million to settle allegations by regulators in four states that its Bankers Life subsidiary acted as an investment adviser and broker-dealer without proper state licensing.
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Compensation dips slightly for WellPoint brass

April 3, 2012
J.K. Wall
Angela Braly, CEO of the Indianapolis-based health insurance company, received total compensation of nearly $13.3 million, down 1.5 percent from the $13.5 million she made the previous year.
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S&P completes biggest first-quarter rally since 1998

March 31, 2012
Bloomberg News
More than $3.6 trillion has been restored to U.S. equity values since October amid better-than-estimated earnings and economic data. Indianapolis-based WellPoint Inc. surged 11 percent this week, as the Supreme Court debated the health care law.
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Deal puts Farm Bureau's name on downtown concert venue

March 27, 2012
Farm Bureau Insurance is putting its name on outdoor concert venue The Lawn at White River State Park under a sponsorship agreement with event promoter Live Nation Entertainment, the companies announced Tuesday.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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