INSURANCE RIEFS

INSURANCE RIEFS

FARMERS ANNOUNCES

MULTI-POLICY DISCOUNT

LOS ANGELES - Farmers Insurance is offering a discount on homeowners and renters insurance to customers who also are insured with Farmers for auto insurance.

Farmers estimates that 260,000 of its California customers will be eligible for the discount, available for customers renewing their auto and homeowners policies on or after April 1. It went into effect for new customers on March 1.

The discount will provide a savings of up to 7 percent off of a customer's homeowner's premium if their auto insurance is also written by Farmers, according to the company.

NC INSURER ADVISED

TO STUDY MUTUAL BENEFIT

GREENSBORO, N.C. - A major shareholder of Jefferson-Pilot Corp. Monday urged the Greensboro-based insurance company to explore the feasibility of acquiring all or part of Mutual Benefit Life Insurance Co., Newark, N.J.

In a letter delivered to Roger Soles, Jefferson-Pilot chairman, on March 4, Louise Prince Parsons, co-chair of the Jefferson-Pilot shareholders committee, said the New Jersey insurance commissioner's office is contacting large companies in the industry to gauge interest in a purchase of Mutual Benefit units.

Ms. Parsons suggested to Mr. Soles that Jefferson-Pilot immediately assign a team to conduct a thorough review of Mutual Benefit's assets and insurance operations.

GEORGIA COMMISSIONER

NAMES INSURANCE PANEL

ATLANTA - Georgia Insurance Commissioner Tim Ryles announced Tuesday the formation of a 22-member statewide advisory committee to assist in developing a model for a basic health insurance policy.

The proposed Georgia Basic Health Plan would be sold by insurance companies to Georgians who can't afford health insurance at current market prices but don't qualify for Medicaid or Medicare.

"One out of every five Georgians is caught between not being able to afford health insurance and not being poor enough to qualify for state aid," Mr. Ryles said. "The Georgia Basic Health Plan would provide a safety net for those caught in this gap."

The state insurance department will hold public meetings throughout the state in April to gather information on public health insurance needs.

NY LAWMAKER PUSHES

INTERSTATE COMPACT

RANCHO MIRAGE, Calif. - Consumers would be better protected against insurer insolvencies through a union of state regulators to assure minimum standards, said the chairman of the State-Federal Relations Committee of the National Conference of Insurance Legislators.

New York state Sen. Donald M. Halperin, D-Brooklyn, decried proposals now pending in Congress for the creation of a federal insurance regulator at a

financial management conference in Rancho Mirage, Calif.

Under the senator's plan, a state-governed Interstate Insurance Regulatory

Commission would be empowered to adopt regulations binding in all the members of the compact.

INVESTOR GROUP BUYS

NWNL'S CHARTWELL RE

MINNEAPOLIS - The NWNL Cos. has completed the sale of one of its subsidiaries, Chartwell Re Corp., for approximately $71 million to an investor group that includes Michigan Mutual Insurance Co.

The transaction with Wand Partners Inc. will not have a material effect on NWNL's first-quarter reported earnings, company officials said. However, it will increase the company's statutory capital by about $10 million.

John G. Turner, NWNL president and chief executive officer, said NWNL "is sharpening its focus on life and health insurance and annuities."

INSURANCE GROUP FORMS

MEDIA RELATIONS OFFICE

AUSTIN, Texas - The Society of Certified Insurance Counselors, a non-profit organization devoted to professional insurance education, established a national media relations office to help explain the CIC educational system and its programs and to effectively handle press inquiries.

William T. Hold, president of the society, said the office, located in Chicago, is managed by Charles J. Lorenz, an insurance public relations professional.