Insurers

OneAmerica's annual sales jump 29 percent

March 19, 2012
J.K. Wall
Sales at OneAmerica Financial Partners Inc. surged 29 percent in 2011, on top of a 24-percent jump in 2010, the Indianapolis-based life insurer announced Monday.
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Tornadoes may cost insurers $2B, risk modeler says

March 6, 2012
Bloomberg News
Tornadoes that slammed five states in the U.S. Midwest and South last week may generate as much as $2 billion in claims costs for insurers, risk-modeling firm Eqecat Inc. says.
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WellPoint replaces fired Medicare plan chief

March 5, 2012
J.K. Wall
Venkata Rajamannar Madabhushi will take control of the various Medicare Advantage plans WellPoint runs around the country, replacing Brian Sassi, whom WellPoint fired last month.
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CNO Financial approves $100M stock buyback

March 1, 2012
Associated Press
Carmel-based insurance holding company CNO Financial Group Inc. said Wednesday its board of directors approved the repurchase of up to $100 million in stock.
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HHGregg gets $40M from life insurance on former CEO

February 29, 2012
Cory Schouten
HHGregg has collected a $40 million payout from a life insurance policy it took out on former executive chairman Jerry W. Throgmartin, who died in January after a sudden illness.
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CNO Financial profits beat analysts' predictions

February 22, 2012
J.K. Wall
Excluding investment gains and one-time charges, CNO’s operations generated $60.1 million, or 22 cents per share, in the fourth quarter, up 16 percent from the same period last year.
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Disappointing quarter puts WellPoint brass on hot seatRestricted Content

February 11, 2012
Greg Andrews
Analysts say the company has struggled to generate the consistent earnings that rivals have, in part because of mispricing of its Medicare Advantage senior coverage.
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Lawsuit filed over denial of senior's home care

February 8, 2012
 IBJ Staff and Associated Press
A Carmel-based health insurer once owned by Conseco Inc. is being sued for refusing to pay claims for in-home care submitted by California senior citizens.
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Baldwin & Lyons ends tough year with quarterly profit

February 2, 2012
Indianapolis-based Baldwin & Lyons Inc. turned a profit in the fourth quarter, but it wasn’t enough to erase a dismal 2011 plagued by catastrophic losses.
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UPDATE: WellPoint to boost primary-care pay

January 27, 2012
Associated Press
Health insurer WellPoint Inc. plans to improve primary care reimbursement and start paying for care management it doesn't currently cover, changes that could give patients more quality time with their doctors.
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WellPoint shares sink after disappointing earnings report

January 25, 2012
 IBJ Staff and Associated Press
WellPoint Inc.'s stock price dropped almost 5 percent Wednesday after the insurer's fourth-quarter earnings failed to meet analyst expectations.
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Poll: Anthem so-so in customer satisfaction

January 23, 2012
J.K. Wall
Anthem Blue Cross and Blue Shield ranked No. 12 in a new national customer satisfaction survey, but the poor showing doesn’t appear to threaten the Indianapolis-based company’s business success.<
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Scrutiny rises on Bankers Life

January 9, 2012
J.K. Wall
After the insurer's name went on Indianapolis' downtown arena, CBS News focused on how hundreds of Bankers Life’s long-term-care insurance policyholders have accused the company of having “beat them down with bureaucracy."
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WellPoint, other insurers profit from health law they oppose

January 5, 2012
Insurance companies spent millions of dollars trying to defeat the U.S. health-care overhaul. But profit margins at the companies have widened to levels not seen since before the recession, a Bloomberg Government study shows.
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WellPoint prevails in shareholder suit over 2001 restructuring

December 28, 2011
Kathleen McLaughlin
A federal judge has dismissed a shareholder class-action lawsuit against WellPoint stemming from the company’s 2001 conversion from a mutual insurer to a publicly traded company.
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Express Scripts, WellPoint in contract fight

December 13, 2011
Associated Press
Pharmacy benefits manager Express Scripts Inc. said Tuesday it is in the middle of a contract dispute with WellPoint Inc., one of the biggest health insurers in the United States.
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Medical Mutual eyes Indiana for growth

December 12, 2011
J.K. Wall
Health insurer expects enrollment in its health plan to grow 30 percent next year, to nearly 21,000. And then it expects growth of another 40 percent.
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Third-quarter profit dips at OneAmerica

December 6, 2011
J.K. Wall
OneAmerica earned $15.4 million in the three months ended Sept. 30, down 53 percent from the same quarter a year ago. Most of that difference came from a 17-percent jump in policy benefit payments.
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WellPoint won’t put brand-name Lipitor on generics list

December 1, 2011
Bloomberg News
Indianapolis-based WellPoint Inc., the largest U.S. health insurer by enrollment, will favor a copy of the blockbuster cholesterol medication made by Watson Pharmaceuticals Inc., the insurer said.
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Decatur Vein Clinic branches outRestricted Content

November 26, 2011
J.K. Wall
In little more than a decade, former Conseco director Dr. David Decatur has turned his single-office family practice into a multistate chain of vein clinics. A 14th location is planned.
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UnitedHealth to acquire Medicare insurer XLHealth

November 22, 2011
Bloomberg News
UnitedHealth Group Inc. said it will acquire XLHealth Corp., a provider of managed care for chronically ill Medicare members. Indianapolis-based WellPoint Inc. had been considering a possible acquisition of the company.
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WellPoint eyes $1.5 billion deal for XLHealth

November 14, 2011
Bloomberg News
Offers for XLHealth, a provider of managed care for chronically ill Medicare members, may value the company at $1.5 billion to $2 billion.
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New York orders WellPoint to make refunds for overcharges

November 10, 2011
Bloomberg News
WellPoint is among 11 insurers ordered to refund money to almost 600,000 New Yorkers who were charged too much for health insurance.
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Catastrophes deliver more losses to Baldwin & Lyons

November 3, 2011
J.K. Wall
The auto and trucking fleet insurer lost $13 million, or 87 cents per share in the three months ended Sept. 30, compared with profit of $9.2 million, or 62 cents per share, in the same period a year earlier.
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Kaiser: Lack of competition endemic

October 31, 2011
J.K. Wall
In a new study, Indiana ranked as the 19th least-competitive state for individual health insurance and the 27th least-competitive for small-employer health insurance.
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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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