March 15, 2015 |
Philip Rinaldi, the city's refinery titan, offered Philadelphia City Council a lesson in business terminology Friday when he introduced a new phrase into council's vocabulary: "idiot insurance. " During testimony on whether the city-owned Philadelphia Gas Works should engage in a public-private partnership, Rinaldi suggested Council could consider protecting its interests by maintaining an ownership stake in any private venture. "I live in a world of mergers and acquisitions," said Rinaldi, chief executive of Philadelphia Energy Solutions.
June 25, 1990 |
Envision going to your bank to cash a check and being offered a life insurance policy, or even auto insurance. Futuristic? Well, the future may be nearer than you think. Consumers can't now buy life, health, auto or homeowners insurance through their banks, but a law enacted last month in Delaware allows state-chartered banks there to underwrite and sell insurance nationwide for the first time. Leading the push by banks to get into insurance are Citibank and Chase Manhattan, two of the nation's largest banks, both of which have subsidiaries in Delaware that could be used to sell insurance nationwide.
September 11, 1986 |
The Warrington Township Board of Supervisors has reviewed two bids for employee insurance coverage that could save the township as much as $34,000 in the next year. At Tuesday night's regular meeting, the supervisors discussed proposals submitted by Sam Chiodo Ltd., the township's current carrier, and New York Life. Both plans include hospitalization, health and life insurance costs for the township's 31 employees, including members of the police force, and their dependents. The supervisors did not take action on either proposal but scheduled a vote to act at their meeting Tuesday.
March 17, 1986 |
The Whitemarsh Township supervisors have agreed to pay $4,800 this year to the Montgomery County Consortium of Communites for a self-insurance program. The program, which would insure municipal vehicles, was unanimously approved by the supervisors on Thursday. It would pay the cash value of the property destroyed by a municipal vehicle or for the cost of repairs, township manager Lawrence Gregan said. Gregan said the self-insurance program was much cheaper than similar policies offered by insurance carriers.
August 4, 2014 |
Seven months after coverage began for people who bought health insurance under the Affordable Care Act, more are now insured and most of the nearly 10 million people who have signed up say they are satisfied with their plans. Yet now a new set of challenges looms. Will the plans be affordable, and will users know how to use tiered networks and other innovations without incurring huge bills? "The law has pretty much met the early benchmarks, but if it stopped here, I don't think anyone would declare it a success," says Larry Levitt, senior vice president for special initiatives at the Kaiser Family Foundation, which is tracking the law. The law offers new insurance options for the individual market.
June 16, 1988 |
A longtime Warrington insurance firm, Sam Chiodo Ltd., has surprised township officials by not bidding on the township's 1988-89 employee benefits contract. Chiodo, which had provided health insurance for Warrington employees since 1978, was rejected last year by the previous Republican-dominated Board of Supervisors in what Chiodo representatives called a political move. Tuesday night, the supervisors briefly reviewed eight bids from six insurance companies. Township manager Stanley Gawel said all bids were at least 25 percent higher than the $9,153 monthly premium Warrington paid to Carl A. Posse & Co. in 1987-88.
September 20, 1995 |
The township's $541,000 workers compensation policy is up for bid this fall, and the issue has begun to sow divisiveness and distrust among township officials. Questions about the fairness of the process have arisen, as Democratic commissioners - who hold a minority position - say they expect the business will go to Patrick Larkin, a Delaware County lawyer and insurance broker who is a longtime Republican Party stalwart. Larkin, who holds the insurance contracts for 31 municipalities - almost two-thirds of Delaware County - last won the Haverford contract in 1993, after township officials permitted him to write the specifications for insurance coverage and to choose which companies would provide coverage to the township.
January 21, 1992 |
Happily, for Philadelphia's University Museum, it had not spent the $114,500 it collected from its insurance company when an 18th-century crystal ball that had belonged to a Chinese empress and a 2,000-year-old bronze statue were stolen from the museum in 1988. Thus, three years later, when those missing artifacts were miraculously found, the museum was able to return the insurance money and get its prized possessions back. They are currently on display. "If we hadn't been able to return the insurance money," said museum spokesperson Pam Kosty, "the two pieces would have rightfully belonged to the insurer, which could then have sold them elsewhere.
December 10, 1986
David S. Greenberg's Dec. 2 Op-ed Page article is nothing more than disguised request for a national health insurance system. According to Mr. Greenberg our present system is expensive and does not include long-term nursing care for the chronically ill and the aged who are no longer able to care for themselves. It is no longer the responsibility of one's grown children to provide any care for elderly parents or, God forbid, for people to make preparation for the day when they will no longer be able to take care of themselves.
May 26, 1990 |
Taxicabs of all stripes circled City Hall for about an hour at lunchtime yesterday, horns blasting and drivers steaming over high insurance rates. "I can't make a living with all this insurance to pay," said Raanan Doar, 32, of Northeast Philadelphia, as he drove round and round City Hall in his red-and-yellow United cab. While Doar and a score of other cabbies were causing a ruckus outside City Hall, lawyers inside were arguing about the cause of it all before Common Pleas Court Judge Samuel M. Lehrer.