Shooting victims face medical bills

Some of the victims fighting for their lives after being wounded in last week's Colorado cinema rampage may face enormous medical bills without the benefit of health insurance.

The US doesn't have universal health coverage, though hospitals are required by federal law to stabilise patients during emergencies without regard to their ability to pay. The Obama administration's health care overhaul would cover millions more uninsured, but Republicans strongly object to its cost.

Members of the public have contributed almost 2 million dollars to help victims, including the Warner Bros. studio that released the Batman movie that was showing when the gunman opened fire. But it's not clear how much of that money will cover medical expenses.

One victim's family is already raising money online. And three of the five hospitals treating victims said they will limit or completely wipe out medical bills. An unknown number of the victims, however, still face a long recovery and the associated medical costs without health insurance.

Nearly one in three Coloradans, or about 1.5 million, either have no health insurance or have coverage that is inadequate, according to a 2011 report by The Colorado Trust, a health care advocacy group. The highest uninsured rate is among adults between 18 and 34. Many victims are in that age group.

Among the uninsured victims is a 23-year-old aspiring comic, Caleb Medley, who is in critical condition with a head wound. His wife, Katie, gave birth to their first child on Tuesday. His family and friends said they have set a goal of raising USD500,000 to cover his hospital bills and other expenses and were more than halfway there yesterday.

Children's Hospital Colorado announced it would use donations and its charity care fund to cover the medical expenses of the uninsured. "We are committed to supporting these families as they heal," according to a statement from the hospital, which treated six shooting victims.

HealthOne, which owns the Medical Centre of Aurora and Swedish Medical Centre, also says it will limit or eliminate charges based on patients' individual circumstances. Those hospitals have treated 22 shooting victims. However, the company cautioned its policy may not apply to all doctors working in its hospitals.

The other two hospitals, Denver Health Medical Centre and University of Colorado Hospital, where Medley is, wouldn't say whether they would assist shooting victims. However, they provided combined USD750 million in free care in 2011.

The key issue is what comes after the current hospital care, said Dr. Howard Brody, director of the Institute for the Medical Humanities at the University of Texas Medical Branch in Galveston and a frequent critic of excessive medical costs. "Many of these people, I assume, will need prolonged and expensive rehabilitation after their immediate injuries are dealt with, and that seems precisely what hospitals today are less and less willing to cover out of their own funds, and no law requires that they do so, as far as I am aware," he said.
More from the Belfast Telegraph

Bertie Ahern blasted for slur on former Taoiseach
Foul-mouthed Northern Irish man's gay, racist rant stuns New Yorkers
Jodie Foster 'lends Kristen support'
Kristen Stewart 'working on reconciliation'
Guesthouse teen grilled over Tom Daley Twitter troll messages

Insurance for terrorism, key to sustaining FDI flows

Most investors across the world want to go to countries and economies where there is adequate insurance for life and property, especially now that issues of terrorism and kidnapping have grown in larger scale across the globe.
This is why Nigeria, being one of the frontier markets for investment, must take insurance very seriously by ensuring that there are polices and products to carter for terrorism, kidnapping and ransom, while efforts to improve the security situation continues.

“We expect that our efforts to support the local market develop capacity to ensure terrorism risk, kidnapping and ransom begin to yield result,” Femi Oyetunji, managing director, Continental Reinsurance plc, said.

Oyetunji said though the reinsurer, through a partnership with a UK firm, had packaged a programme for local insurance operators, that area of insurance was yet to pick up as expected.

Meanwhile, investors making enquiries on the Nigerian market are worried about the activities of Boko Haram in the Northern parts of the country, which analysts have noted is a huge impediment to the flow of foreign direct investment.

According to statistics recently released by the Central Bank of Nigeria (CBN) Foreign Direct Investment (FDI) inflows dropped by 19.24 percent from $2.13 billion in the fourth quarter (Q4), 2011 to $1.72 billion in Q1, 2012.

The decline in FDI inflows during the review period, the apex bank noted, were caused by growing level of insecurity occasioned by terrorist activities.

According to analysts, political risk insurance against conflict or breach of contract has become a key factor for investors seeking higher returns in developing markets in Africa, Asia and the Middle East.

They stated that the euro zone economic crisis and low returns in other advanced economies are forcing investors to look for more lucrative places to park their money.

Michel Wormser, chief operating officer, World Bank’s Multilateral Investment Guarantee Agency (MIGA), was quoted to have said that “We are meeting investors that are finding their own markets quite constrained and are looking for new places to maintain their business activity at a higher level.”

Political changes in the Middle East, fewer long-running conflicts in Africa and less tolerance for leaders who cling to power, have also added to the interest, Wormser stated.

MIGA’s mission is to promote foreign direct investment into developing countries by offering political risk guarantees to the private sector.

According to him, demand for guarantees has been especially strong for large infrastructure development projects in countries such as Ivory Coast, Senegal, Kenya, Rwanda, Ghana and Pakistan. “We are seeing Africa as a major growth area for investment. Investors going to Africa today are different from the ones that used to go there, more sensitive to risks, and these new investors are much more demanding of the sort of products we are offering,” Wormser said.

Lockton to Open New Australian Operations in Perth and Sydney

Privately held insurance broker Lockton announced that it will open two new offices in Australia, establishing a new insurance brokerage, Lockton Australia Pty Ltd, with locations in Perth and Sydney. “Adding Lockton operations in Australia is another important step in expanding our expert local teams to serve clients around the world,” noted John Lumelleau, President and CEO of Lockton, Inc. Lockton’s Australia offices will open officially May 18, serving the commercial insurance needs of corporate and multinational clients throughout Australia. Adam Rhodes has been named Lockton Australia CEO, reporting to Gerry Callaghan, Executive Chairman of Lockton’s Asian operations. He was formerly with Australian Reliance Group and will be joined at Lockton by several former principals of ARG. The bulletin also explained that Lockton and ARG “have restructured their relationship and business, and in the future, they will operate separately. This restructure provides the ability to focus on the individual needs of a diverse client base and reflects the rapid growth achieved over recent years.” Mike Hammond, Chairman of Lockton’s operations outside the U.S., commented: “I am delighted at this natural development in our business relationship. This will ensure that our Australian Associates have full access to Lockton resources across Asia and the rest of the world whilst building the business locally in Australia. This will ensure that our valued clients continue to receive exceptional service.” ARG’s CEO Andrew Donnelly noted: “This restructure will enable us to continue to develop the Australian Reliance brand, while ensuring our clients continue to receive the exceptional levels of service and technical advice to which they have become accustomed. We are committed to continuing to deliver the personalized client service that is the Australian Reliance trademark.”

Cherry-picking in insurance plans

Financial planning for the future is one of the important processes in our life. The planning could be either for your children’s education or marriage or business. However, planning for unforeseen incidents are really crucial. And insurance is the only product that could help you on this front. It provides security against unforeseen incidents such as sudden death, loss or damage to property, accidental and theft security to vehicles. Gone are the days when insurance options for people were limited. In today’s world, there are a variety of products in the market, which can be taken to secure any particular object. Currently, the insurance plans cover only the following type of risks: * Any organ or part of the body. * Health insurance for critical illness. * Insurance related to cyber world * Kidnapping and ransom * Travel risks * Cash risks * Jewellery * Flood and earthquake * Mobile and accessories But do we need to subscribe for all these? Not really. Everyone need not buy all policies. You have to buy insurance only if you need it. Here is a list of insurance products that should be avoided if there is no necessity. Flood and earthquake This product insures you against the losses that may occur to your property in the event of floods or earthquake. However, if you are not living in areas which not prone to these calamities, you need not purchase these products. Kidnap and ransom Kidnap and ransom insurance covers the risk that may lead to financial pressure occurring due to heavy money demand in the form of ransom. Though all companies don’t provide these policies, a few companies do have such plans. The risks covered under such policies are very uncertain. The chance of such an occurrence of this type of risk is negligible and that too restricted to terror affected areas. So the need to have such policies should be analysed properly, and should be avoided where not needed. Credit card loss This insures against a probable financial loss in the event of the theft of a credit card. Almost all the credit card companies or banks immediately block the card on receiving info-rmation about such theft. So you may avoid taking credit card insurance. Disease insurance Good Health Insurance policy covers all major diseases related to heart, kidney, cancer, etc. They also provide for regular health check-ups, accidental treatments, critical illness, etc. So any policy, which is meant to cover any specific disease or any disease, which is not normally covered under health policies, should be avoided. Example: Insurance for Vision is a policy to cover risks associated with eyes because most of the traditional health plans don’t cover eyes. However, normally the expenses related to eyes are the cost of lens, specs, etc., which can be easily borne by one without any insurance plan. So taking disease insurance should be avoided. Products for old age Most of the companies, including the specialised health insurance company, hardly cover the members of old age, i. e. above the age of 50 years. There is no such product available in the market, which completely covers the aged or senior citizens. All products for them are very rigid in terms and conditions and costly too. Even if someone takes this policy, he has to compromise and settle for a lot for claims. Further, the existing diseases are not covered under such plans. So taking such a policy should be avoided. Insurance companies are there in the market to do business, and they will keep coming up with different plans to appeal to the customer’s need for security but as a customer, you should use your discretion and buy the insurance products only after a proper research. Every rupee earned by you is precious, and you should value it. So make a sound judgment call before taking up any insurance plan and try to avoid product that is unsuitable for your circumstances. The writer is CEO of BankBazaar.com

United Automobile Insurance Company Turns Non-Standard Auto Data Into Competitive Advantage With Information Builders

NEW YORK, NY, Apr 11, 2012 (MARKETWIRE via COMTEX) -- Information Builders, a leader in business intelligence (BI), information integrity, and integration solutions, today announced that United Automobile Insurance Company (UAIC), a national provider of non-standard automobile insurance, is using the company's holistic, end-to-end P&C insurance application to combine data from both its legacy and new systems, enabling better decision-making across the organization. UAIC is leveraging Information Builders' Insurance Performance Foundation (IPF) to develop a consolidated view of enterprise activity and profitability across all levels of its business and arm its employees with actionable information in real time. Information Builders' IPF is a comprehensive application leveraging 37 years of organic expertise in insurance data integration and business intelligence, specifically targeted to P&C insurers. The unique offering allows UAIC to receive a quick, high-value P&C insurance focused solution, as well as prompt configuration to fully fit the company's specific line of business and processes. The IPF solution gives employees at all levels of the business, including senior executives, mid-level management, underwriters, claims managers, pricing staff, analysts, front-line operational staff, and even its external independent agencies and agents, access to a customizable BI reporting and analytics solution so that they can easily answer their own business questions in a matter of seconds or minutes, not days or weeks. Through its partnership with Information Builders, UAIC is ensuring that all business users have access to the most up to date information they need in order to do their jobs effectively, from the highest level of summarized information all the way to the smallest level of granular details. These users can easily drill down into or across all of this critical information from a seamless, self-service front-end dashboard. UAIC had identified that manual reporting processes and IT systems needed an upgrade in order to increase the employees' ability to make prompt, fully informed decisions. Additionally, the company lacked a way to integrate data from its core systems in a single comprehensive view across the enterprise so information related to claims, billing and policy administration had to be accessed and reported on separately (as "silos of data"). This challenge was further compounded by the influx of additional data from UAIC's new core systems being implemented. The company recognized the opportunity within Information Builders' IPF solution for business ready information to not only address these challenges, but also to improve the speed-to-market and precision of rate actions, reduce losses, better segment its books of business, change the entire nature of agent interactions and increase loyalty in their channels. As a result of this investment in Information Builders' IPF Application, UAIC is targeting a bottom line impact as large as or larger than those from the new core systems. "The true value of information can only be derived when organizations seamlessly integrate new core systems data with important legacy information, and then bring a whole new layer of visibility to that information through easy-to-use self-service business reporting and analytical interfaces," said Gerald Cohen, president and CEO of Information Builders. "UAIC is doing exactly that with this investment. Information Builders commends them on this critical step which will differentiate the company from other insurers whose view of transformational initiatives end up being more purely transactional in nature." "UAIC has extremely unique customers and offerings and, as such, it was imperative that we find a solution that was fully configurable to meet our specific business needs yet could be implemented in a matter of months not years, which is exactly what Information Builders' IPF Application does," said Dean Kozlowski, Vice President of Product Development for UAIC. "We've recently completed implementing both Guidewire Claim Center and Guidewire Billing Center in our new evolving technology environment. These new core systems combined with the enhanced ease of data access and business insights provided through our partnership with Information Builders and their valuable software solutions, makes UAIC well positioned to deliver enhanced value to both our internal employees and external customers as a result." About UAIC United Automobile Insurance Company (UAIC) provides a high quality and low cost insurance product to the Non-Standard Automobile Insurance Market. The company is family owned and is one of the largest privately held property and casualty insurance companies in the United States. In 1998, UAIC had operations in two states, Illinois and Florida. Now almost 15 years later, UAIC is providing auto insurance in 13 states and continues to add new states. The key to our growth and success is a commitment to providing quality service to our agents and customers combined with disciplined underwriting, and fast and fair claims handling. UAIC has a world class information technology department. Our web technology is rated year after year as the easiest to use and most dependable by our agents. On our website, agents can write new and renewal business, do endorsements and reinstatements, check the status of a policy, reprint documents and pay by cash, check or credit / debit card. UAIC has invested, and will continue to invest, substantial resources in personnel and technology to assure the most efficient and professional operations in the industry. Through our affiliates, United Group Underwriters and United Premium Finance Company, UAIC provides additional products and services tailored to the needs of the independent agent. We will continue to strive to be the leading non-standard automobile insurance company in the industry. We are proud that our agents and customers have recognized this commitment by making UAIC a market leader in every state where we do business. About Information Builders Information Builders helps organizations transform data into business value. Our software solutions for business intelligence and analytics, integration, and data integrity empower people to make smarter decisions, strengthen customer relationships, and drive growth. Our dedication to customer success is unmatched in the industry. That's why tens of thousands of leading organizations rely on Information Builders to be their trusted partner. Founded in 1975, Information Builders is headquartered in New York, NY, with offices around the world, and remains one of the largest independent, privately held companies in the industry. Visit us at www.informationbuilders.com , follow us on Twitter at @infobldrs, like us on Facebook and visit our LinkedIn page.