INSURANCE BRIEFS

INSURANCE BRIEFS

Kemper Corp. Unveils

Stock Purchase PlanLONG GROVE, Ill. - Kemper Corp. announced last week it intends to

purchase up to an additional 1 million shares of its common stock and that its largest stockholder, Lumbermens Mutual Casualty Co., also plans to purchase up to an additional 1 million shares of Kemper Corp. common stock.

If fully implemented, the purchases would increase Lumbermens' stake in Kemper Corp. to approximately 50.9 percent ownership. Kemper Corp. noted that the Lumbermens purchases of its stock would have no impact on Kemper Corp.'s operations or its capital structure. The shares purchased by Kemper Corp. would be held as treasury stock and may be re-issued from time to time for general corporate purposes.

North East Bids Maine

To Resume Operations

PORTLAND, Maine - North East Insurance Co., prohibited from selling new or renewalinsurance policies, says it is healthy again.

The insurer says it submitted evidence recently to the Maine Superintendent of Insurance which demonstrates, in management's opinion, that it possesses sufficient surplus to serve the current and future needs of its policyholders.

The Maine Superintendent of Insurance had issued a decision and order, subsequently stayed, prohibiting the company from issuing new or renewal policies. The Superintendent, by letter of March 7, 1988, also requested that the company submit evidence that it possesses sufficient surplus considering the kinds and amounts of insurance it has in force.

Arbitration Claims

Grew 9 percent Last Year

TARRYTOWN, N.Y. - Arbitration Forums Inc., a non-profit arbitration organization, reported a 9 percent increase in arbitration claims in 1987.

The total number of cases, which increased by 20,000 to nearly 250,000, represented $500 million worth of claims, an increase of $200 million from 1986.

Accident Arbitration, an arbitration program for consumers trying to settle accident disputes, reported the most significant growth among the organization's 14 arbitration programs.

Arbitration Forums manages and administrates various arbitration programs for consumers, businesses and insurers as an alternative to litigation.