Union sues Conseco over restatement
Carmel-based Conseco Inc. faces a shareholder lawsuit by a union pension fund over an earnings restatement the company made
18 months ago.
Insurance
Articles
Health reform breaking WellPoint’s way so far
With the Obama administration backing away from a government-run, "public" plan, the insurance
industry faces a much smaller threat in the form of privately run insurance co-ops.
Monarch program persuades young, male workers to care about their health
Indianapolis-based Monarch Beverage is among hundreds of central Indiana companies that
have introduced wellness programs to counteract the rising costs of health insurance and Worker’s Compensation.
Conseco profit at high end of estimates
Conseco Inc. recorded profit at the high-end of its preliminary
estimates, the company announced today.
Conseco shares jump after profit report
Shares of Conseco Inc. soared today in response to the company’s preliminary report of second-quarter profits. The Carmel-based
insurer’s stock price jumped as much as 53 percent, to $2.91, before settling a bit in the afternoon.
Investments propel Baldwin & Lyons profit
Baldwin & Lyons Inc. said today that its profit last quarter was the second-highest in company history, as investment
gains from recovering equity markets helped boost performance.
WellPoint stock falls despite quarterly profit
WellPoint Inc. shares slipped in morning trading after the company beat analysts’ expectations for second-quarter profits
but failed to raise its year-end earnings forecast. WellPoint earned $1.50 per share in the latest quarter, excluding investment
losses. Analysts were expecting $1.43 per share, according to a survey by Thomson Financial Network.
Investments propel Baldwin & Lyons profit
Baldwin & Lyons Inc. said today that its profit last quarter was the second-highest in company
history, as investment gains from recovering equity markets helped boost performance.
Conseco says profit in line with estimates
Conseco Inc. said it would meet analysts’ expectations for the second quarter by posting earnings of at least 22 cents
per share, before investment losses. The Carmel-based health insurer announced the preliminary financial results today after
the market closed.
Grain Dealers Mutual merges with Florida firm
Indianapolis-based Grain Dealers Mutual Insurance Co., one of the largest property-casualty insurers in the state, will
become part of The Main Street America Group, the Jacksonville, Fla.-based company said this morning.
Colts seal Farm Bureau sponsorship pact
The Indianapolis Colts have become one of the first National Football League teams to sell a corporate sponsorship patch
on players’ practice jersey.
Conseco reinsurance deal swaps profits for cash
Carmel-based Conseco Inc., still a bit strapped for cash, brought in a reinsurance company to shoulder some of the risk
of its life insurance policies. Minnesota-based Wilton Reassurance Co. will pay $57.5 million to Conseco as a ceding
commission to co-insure and administer 104,000 policies held by Conseco subsidiaries.
Hilbert in-law’s life insurance dispute takes odd turn
Local businessman J.B. Carlson contends the $15 million life insurance policy he took out on Stephen Hilbert’s mother-in-law
was legitimate, because she served on his firm’s board and was a key decision-maker. The mother-in-law, Germaine
“Suzy” Tomlinson, died at age 74 last September—just 32 months after the policy was issued.
Cummins sues insurers over $381M in flood claims
Cummins Inc. is battling its insurers in court, saying they’re refusing to pay
most of the company’s $381 million in claims stemming from the flood that immersed its southern Indiana
facilities a year ago.
Government-run insurance plan draws mixed reviews from employers
Businesses all want to see reform of the health care system, but they diverge on how much the U.S. government’s entrance into
the insurance market would help or hurt them.
Insurers not attracting young people
Two-thirds of college-age Americans say health insurance is as important as salary when looking at jobs. Yet just as many have made no plans to obtain health insurance once they graduate from school this month.
Clarian and IU Med School hiring 1,500 docs for massive Indiana Clinic; strategy may cut out insurers
Clarian Health and the Indiana University School of Medicine want to turn 1,500 or more doctors into employees under a new nonprofit group called the Indiana Clinic.
Activist shareholder makes case against Conseco’s board
An activist shareholder vying to become a director of Conseco Inc. says the insurance company’s board "completely misjudged"
the risks it faced when it emerged from bankruptcy in 2003 and hasn’t recovered since. Now an independent shareholder advisory firm is siding with him.
Let’s set record straight on benefits
The insurance industry and [Indiana] Chamber of Commerce are providing misleading and untruthful statements to employers and
their insured members about assignment of benefits.
New Indy firm will focus on insurance defense cases
Two partners at the Bingham McHale LLP law firm are taking five lawyers with them to form a firm that will concentrate on insurance defense work.