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State fines insurer $90,000

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Time Insurance Co., which does business under the name of Assurant Health, has been fined $90,000 for violations of state insurance laws. A market conduct examination performed by the Colorado Division of Insurance found the following violations for calendar year 2007: Failure to maintain required records. Failure to include a required disclosure regarding portability of… Continue Reading State fines insurer $90,000

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Colorado’s Front Range lies within two volatile pathways known as “Hail Alley” and “Tornado Alley.” The state also tied with Florida last year for the most lightning casualties in the nation. Two summers ago, golf-ball sized hail battered north Colorado Springs and Pueblo, causing $59.6 million in insured damages to residences and automobiles. Prior to… Continue Reading The rage of Mother Nature vs. the right insurance coverage

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Department of Regulatory Agency Commissioner Marcy Morrison sent warning today of a scam that targets Colorado insurance companies. The scam was first reported in California where individuals were allegedly calling licensed insurance agencies and representing themselves as employees of the California Department of Insurance. They requested payment for a penalty fee for not completing a… Continue Reading Insurance industry scam migrates to Colorado

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Colorado’s small group insurance program is relatively stable – with 21 companies providing insurance to small businesses. That’s the 2008 report from the Division of Insurance, which shows a 7 percent, or about 25,000 fewer people, reduction in coverage between 2007 and 2008. Despite the economic downturn, the drop isn’t the most dramatic during recent… Continue Reading Dept. of Insurance reports stable coverage environment

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After repairing and tuning – pianos, that is – his way through graduate school, banking was the “furthest thing” from Jack Kerr’s mind. Perhaps something in the insurance industry. Anything except the steel mills of Indiana. But when his wife’s uncle mentioned a job opening at a bank, it turned into a career. And banking… Continue Reading Kerr battling to keep banking more personal than technical

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Humana makes acquisitions

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Humana plans to increase its offerings as a result of two recent acquisitions: Comp Benefits and KMG America. The two additions to the Humana portfolio increase the non-medical products the insurance provider offers. The addition of CompBenefits expands Humana’s dental portfolio, which now includes dental HMO and dental EPO products. It also gave Humana a… Continue Reading Humana makes acquisitions

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Health care execs raise red flags

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What’s keeping El Paso County’s health care leaders awake at night? First, there’s the current shortage of doctors and nurses – most of whom are 45 to 50 and older. Then there are overwhelmed emergency rooms that must often treat alcohol and substance abuse patients instead of handling more serious cases. Finally, there are the… Continue Reading Health care execs raise red flags

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The number one issue facing small business employers and their employees is the rising cost of health insurance, report statewide and national surveys, and the increases are coming at a time when some health insurers are posting record profits. Collectively, the nation’s life and health insurers recorded a $4.5 billion profit for the first three… Continue Reading Cost of health insurance top concern for small businesses

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When Frank Davis, director of facilities at Phil Long Ford, went looking for bids on building maintenance, he interviewed local firms and chose Aspen Diversified Industries (ADI) to do the job. Pretty typical, right? But ADI is not a typical company.In truth, ADI’s chief, Ken Barela, is actually an “executive director”, and the company’s 120… Continue Reading Vocational training company builds lives and business

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Last week I received notice (as did most RCIS members) from Andy Oyler at Grubb & Ellis Quantum Commercial of “wants and needs.” Don’t you love it? Even in a slowed commercial real estate market, there are always clients looking for a diamond in the rough or a good property in a key location. It… Continue Reading Colorado Springs Real Estate Transactions – June 21, 2002

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