Word: denenberg
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Dates: during 1972-1972
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...Denenberg has ordered companies that write fire and homeowner's insurance to offer more and bigger deductibles in order to bring down rates. He has asked the state legislature for authority to make those companies organize assigned-risk "pools" similar to those used by auto insurers to cover any customers who cannot find a firm willing to insure them. Last week, while other state officials in the flood-torn Northeast were praising relief efforts, Denenberg excoriated federal officials for not having publicized federal flood insurance. "A lot of people would have been better off if they had tossed...
Medical insurers have received some of Denenberg's sharpest thrusts. He has denied rate increases to health insurers unless they submit proposals for pressuring hospitals into cutting their costs. To prove that he meant business, he rejected a $73 million rate increase from the state's Blue Cross group health insurance system and ordered its directors to renegotiate Blue Cross contracts with some 90 hospitals. The new contracts must include 34 cost-control guidelines that he proposed. For example, hospitals now have to buy generic drugs instead of more expensive name-brand drugs. In Blue Cross...
...Shopper's Guide to Life Insurance," Pennsylvania Insurance Commissioner Herbert Denenberg lists what he finds to be the ten best and ten worst buys among the 166 largest insurance companies doing business in Pennsylvania. As Denenberg cautions, there are other factors to use in weighing insurance plans, including the quality of the company's service and its financial stability. But he believes that cost is one of the most important criteria...
...comparison is based not on the size of premiums but on what insurance men call the "interest-adjusted cost," which Denenberg insists is the best way to measure a true price tag. To arrive at that figure, he went through a complex series of calculations. First he took the annual premiums on a $10,000 straight-life policy, which ranged from $110 to $417, depending on the buyer's age and sex and the company's price structure. Then he added 4% to the premiums to reflect what a policyholder would have earned on his money...
...Denenberg's latest list was compiled by averaging out the costs for policies bought by people in three separate age brackets-early 20s, mid-30s and early 50s. His cost comparisons, arranged in order of most (and least) desirable...