Get More Information Of Insurance Law

In the absence of insurance, three possible individuals bear the burden of an economic loss; the individual suffering the loss; the individual causing the loss via negligence or unlawful conduct; or lastly, a particular party who has been allocated the burden by the legislature, such as employers under Workmen's Compensation statutes.

While types of insurance vary widely, their primary goal is to allocate the risks of a loss from the individual to a great number of people. Each individual pays a "premium" into a pool, from which losses are paid out. Regardless of whether the particular individual suffers the loss or not the premium is not returnable. Thus, when a building burns down, the loss is spread to the people contributing to the pool. In general, insurance companies are the safekeepers of the premiums. Because of its importance in maintaining economic stability, the government and the courts use a heavy hand in ensuring these companies are regulated and fair to the consumer.

Up until 1944, insurance was not considered "commerce" and not subject to federal regulation. But in United States v. South-Eastern Underwriters Association, the Supreme Court held that Congress could regulate insurance transactions that were truly interstate. Congress then enacted the McCarran-Ferguson Act (15 U.S.C. § 1011) which provided that the laws of the several states should control the insurance business, but that the Sherman Act, the Clayton Act, and the Federal Trade Commission Act were applicable to the insurance business to the extent that it wasunregulated by state law.

The McCarran-Ferguson Act, broadly speaking, gives states the power to regulate the insurance industry. While state insurance statutes override most federal laws, some portions of federal law (like federal tax laws) are always commanding. Therefore, when researching whether a particular law governs, a good rule of thumb is to ask whether the inquiry is related to the "business of insurance" (where state law governs), or whether it is related to peripherals of the industry (labor, tax law, securities - where federal law governs).

PurinaCare(R) Pet Health Insurance Now Helping Protect Dogs and Cats in California

PurinaCare Insurance Services, Inc. today announced that pet owners in California can now help give their dogs and cats a lifetime of care with the introduction of PurinaCare, the first pet health insurance under the Purina brand. PurinaCare offers two easy-to-use, high quality and comprehensive plans that are designed to help dog and cat owners in California take advantage of the latest advances in veterinary medicine with less worry about the financial implications. PurinaCare is focused on easing the burden of increasing pet healthcare costs by providing quality coverage for pet owners, who according to a 2007 survey number approximately 71 million.(1)

The plans offered by PurinaCare meet two specific needs. The first plan option, PurinaCare® plus Preventive Care, covers eligible accidents and illnesses for your pet as well as routine expenses like annual exams, eligible vaccinations, flea and heartworm control, and dental scaling/polishing. The PurinaCare without Preventive Care plan insures your dog or cat against the unexpected. It covers treatment of eligible accidents and illness, including those arising from hereditary conditions, and helps you provide high-quality care for your pet should unexpected issues arise.

"For over 85 years, Purina has been a premier name associated with pet care," said David Goodnight, DVM, president and chief operating officer of PurinaCare Pet Insurance Services, Inc. "As pet owners ourselves, we know that dogs and cats are very much a part of your family. That's precisely why we created PurinaCare Pet Health Insurance to help pet owners provide better preventive care and also address unforeseen issues that may arise with their beloved dogs or cats."

PurinaCare Insurances Services, Inc., which is currently one of only two U.S. companies to have received the American Animal Hospital Association Seal of Acceptance for its high-deductible policies, provides an easy-to-navigate Web site (www.purinacare.com) designed for pet owners to compare plans, instantly receive policy quotes, and apply for coverage. The Web site also has a comprehensive Pet Health Library with articles and videos on various pet health issues. Pet owners can also call 1-877-8PURINA to learn more about the pet health insurance plans and receive a free, no-obligation quote. They also can complete an application for insurance online.

With either PurinaCare plan, pet owners can choose an annual deductible from various levels. There is only a 20-percent co-pay once the annual deductible has been met and PurinaCare pays the remaining 80% of eligible expenses. All of the plan inclusions and exclusions are clearly outlined in each policy. In addition, PurinaCare plans allow owners to visit their choice of any veterinarian licensed in the state in which service was provided, including veterinary specialists. PurinaCare directly reimburses clients for all covered claims.

While all dog and cat owners and their four-legged friends can benefit from PurinaCare pet health insurance, there are added benefits for insuring puppies and kittens early in their development. PurinaCare plus Preventive Care provides coverage for certain early-life veterinary procedures including vaccinations, spaying/neutering and micro-chipping. In addition, younger pets can be covered if an accident, illness or hereditary condition covered under the policy occurs unexpectedly. PurinaCare Pet Health Insurance coverage is available for puppies and kittens who are eight weeks of age or older. Like all insurance, there are some limitations and exclusions that apply based on the precise terms of the policy.

Industry Analysts Rate Aflac's Investor Relations Best in the Insurance/Life Category

Aflac announced today that Institutional Investor has named the Georgia-based insurance company as the best in the Insurance/Life category for investor relations (IR). Aflac received the top selection among publicly traded U.S. companies, chosen by more than 1,000 industry analysts representing both the sell-side and the buy-side of investment professionals.

According to Institutional Investor, both the buy-side and sell-side agree that the quality and transparency of companies' financial reporting and disclosure are paramount, but there are differences too. Buy siders -- with whom IR professionals concentrate much of their efforts -- care most about the quality and depth of the answers to their inquiries, while sell-siders want increased access to senior management.

"This honor speaks directly to the philosophy, accessibility and leadership of Aflac management," Sr. Vice President of Investor Relations Kenneth S. Janke Jr. said. "Our reputation is built upon providing information with openness and transparency regardless of the audience or economic situation. I am proud of our team and thankful for the validation of our efforts from more than 1,000 industry analysts."

"Although companies may be tempted to withdraw from shareholders during tough times, the best IR teams in the U.S. are actively engaging with their investors," said Tom Buerkle, Institutional Investor's executive editor. "Now more than ever, shareholders are looking for clear, up-to-date information from corporate executives."

To determine the leading Business companies for investor relations in the U.S., Institutional Investor surveyed two distinct audiences: (1) Sell-side analysts, and 2) Buy-side analysts and portfolio managers. This year's rankings were based on the opinions of 417 sell-side analysts and 656 buy-side individuals. Individuals were asked to nominate up to four companies for each attribute used to evaluate the effectiveness of investor relations communications -- six for the buy-side and 15 for the sell-side. They were also asked to nominate companies with the most improved IR communications over the past year. All voting was conducted on an unprompted basis.