INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 10/04/06

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INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 10/04/06  

Here is a quick look at the stories that will be in Wednesday's INSURANCE NEWSCAST.

 

1) The Workplace Benefits Association ? The New Leader In Workplace Benefits Consulting & Advice -- A Standardized Employer Guide And Checklist (Part 3 0f 5) - A problem for many employers is that the process for obtaining their benefits is fragmented and information is segmented. Getting some products from here and some advice from there may leave gaps in planning, exposure, implementation, and may also result in overlapping coverage and wastes resources.

 

2) Seventy-Two Percent of Affluent Parents Encourage Financial Advisors to Play Proactive Role in Facilitating Wealth Transfer Discussions with Heirs   - MainStay Investments' 2006 Across Generations Survey Looks at Affluent Opinion on Death, Transfer of Wealth and Communication Breakdowns Among Families and Advisors

 

3) Reuters Summit-Credit Suisse sees opportunities in micro-finance - Wealthy investors, eagerly looking for alternative ways to earn returns on their money, look likely to put increasing amounts of capital into micro-finance, a top Credit Suisse manager said at the Reuters Wealth Management Summit on Tuesday.

 

4) Hub International Acquires Kaufman & Kaufman  - Further Expansion Of Transportation Expertise Creates Specialty Hub Headquartered In Salt Lake City -- Hub International Limited (NYSE:HBG) (TSX:HBG) announced today the acquisition of Kaufman & Kaufman Insurance, a $9 million revenue brokerage based in Salt Lake City, UT. With this acquisition, HUB will expand its specialization in transportation insurance brokerage and will establish a specialty hub headquartered in Salt Lake City, UT, with Dale Kaufman as its president. Financial terms of the transaction were not disclosed.

 

5) AIG Subsidiary Purchases Arch?s U.S. Ocean Marine Business  The AIG Companies have announced that a wholly owned subsidiary of American International Group, Inc. has purchased the U.S. Ocean Marine business from Arch Insurance Company.

 

6) A.M. Best Special Report: Lloyd?s Mix of Primary Business, Reinsurance Shifts in Response to Hurricane Losses  In A.M. Best Co.?s opinion, Lloyd?s competitive strength derives from its marketplace structure, which fosters the development of strong specialist underwriting skills. Lloyd?s Franchise Board has provided a more commercial focus to management of the market and is responsible for setting minimum standards to help safeguard its future profitability.

 

7) A.M. Best Special Report: Provider-Owned and Affiliated Managed Care Companies Maintain Conservative Investments  - Provider-owned and affiliated managed care companies continue to maintain conservative invested asset portfolios, according to a special report by the A.M. Best Co. The majority of these companies? invested assets were in cash and short-term investments during 2005.

 

8) First Research Integrates Industry Leading Financial Metrics into Industry Profiles - Fintel?s Financial Benchmarking Ratios Enhance Industry Intelligence -- First Research Inc., the leading provider of Industry Intelligence, today announced that it has further enhanced its Industry Profiles by including financial benchmarking ratios from Fintel, a leading financial data provider.

 

9) A.M. Best Releases Life/Health Edition of Best?s Aggregates & Averages?Online?United States & Canada  --A.M. Best has released the Web-based version of the 2006 Life/Health edition of Best?s Aggregates & Averages?United States & Canada, presenting all exhibits in Excel® spreadsheet format. Best?s Aggregates & Averages?Online contains the same information as the print Life/Health and Property/Casualty editions that are also currently available.

 

10) Research and Markets: Andrew Margulis of Ropers Majeski Kohn Bentley PC Sharing His Best Practices On What Every Executive and Lawyer Needs To Know About Structuring Directors & Officers (D&O) Policies  - Research and Markets (http://www.researchandmarkets.com/reports/c43007) has announced the addition of Video Leadership Seminars: Best Practices for Directors & Officers (D&O) Insurance With Andrew Margulis of Ropers Majeski Kohn Bentley PC to their offering

 

11) Medical Mutual of Ohio Enters Medicare Market   - Products available this autumn in all 88 Ohio counties -- Medical Mutual of Ohio has won approval from the federal government to market Medicare products in 2007.    

 

12) Two Property & Casualty Seminars on Product Management and Pricing/Rate Making to be Held in Atlanta, Chicago and Scottsdale - Dorman Consulting Associates' two highly successful product related seminars for the Property & Casualty industry have each been scheduled in Atlanta, Chicago and Scottsdale this Fall.  More than 6600 employees from over 700 P&C companies and Managing General Agencies have already attended these two seminars.

 

13) 4myBenefits Partners with Business & Legal Reports - Leading vendor of online benefits communications unveils powerful new compliance system to members. --  4myBenefits, Inc. a leading vendor of benefits communications services, announced today a partnership with Business & Legal Reports (BLR) to power 4myBenefits? compliance tool, HR-Wizard.  The new HR-Wizard program was successfully unveiled to 4myBenefits brokers nationwide in late September to widespread acclaim.

 

14) OnlineBenefits' AgencyWare Named A.M. Best E-Fusion Award Finalist Comprehensive CRM Streamlines Workflow Processes for Benefits Brokers - John Gedney, chief operating officer of OnlineBenefits, today announced that the Firm's AgencyWare is a finalist for the 2006 A.M. Best E-Fusion Award in the Agent/Broker Management category. OnlineBenefits, an A.D.A.M. Company, is a leading provider of market-proven HR solutions that improve benefits delivery.

 

15) Workscape to Preview New Performance-Driven Compensation Solution at HR Technology Conference - -Product Leverages Award-Winning Platform and Usability of Workscape?s Proven Compensation Planning Solution-

 

16) Concero Technology CEO to Speak at IFEB Annual Convention - Alan Shiffer will address the reduction of paper processes through technology

 

17) LabCorp enters into agreement with United HealthCare Insurance  - Laboratory Corp. of America Holdings (LH.N: Quote, Profile, Research) on Tuesday said it entered into a new, ten-year agreement with United HealthCare Insurance Company, an affiliate of UnitedHealth Group Incorporated, effective Jan. 1, 2007.

 

18) FPIC sees Q3 gain from insurance management ops sale -- FPIC Insurance Group Inc. (FPIC.O: Quote, Profile, Research) on Monday said it expects a gain of about $12.5 million in the third quarter on the sale of its New York-based insurance management operations to AJB Ventures Inc. for $40 million in cash. Prior to the closing, FPIC received a distribution of nearly $6 million in cash from the operations, it added in a statement. (Reporting by John Tilak in Bangalore)  © Reuters 2006. All Rights Reserved.

 

19) Aetna Introduces Powerful, Interactive Personal Health Record - Powered by ActiveHealth?s Patented CareEngine® System, Aetna?s Personal Health Record provides personalized alerts to members and physicians about opportunities to improve care

 

20) INSURANCE NEWSCAST ?Pictures Of The Day?

 

21) Congress Is Proposing Reimbursement Increases For Reporting Health Care Quality Information ... Are You Ready?   - ABQAURP One-Day Conference in Chicago to Highlight How Quality Initiatives Are Transforming the Health Care Delivery System

 

22) GEICO to host 30 Georgia candidates and campaigns October 4 - GEICO will host a Candidates? Open House on Wednesday, Oct. 4, from 11:30 a.m. to 1:30 p.m. More than 30 federal, state, and local campaigns in Georgia will be represented at GEICO to share their views and inform GEICO associates about the upcoming general election on November 7. The candidates are expected to distribute campaign literature, answer questions and discuss their platforms with associates who attend the event.

 

23) Disability Insurance to Protect 401(k) Plans Launched - Petersen International Underwriters has launched its newest program ? The 401(k) Completion Plan! Financial advisors can now help their clients secure the anticipated contributions to their 401(k) plan.

 

24) ClaimVantage Study Reveals Dissatisfaction with Current Disability Claims Management Technology - Productivity Declines as Carriers Struggle to Keep Pace with Rapidly Changing Systems -- ClaimVantage, an innovator in claims management and payment software solutions, today announced the results of a comprehensive study of group and individual disability carriers? claims technology. The study was sponsored by ClaimVantage and conducted by JHA, a disability reinsurance, consulting and research firm, in an effort to better understand industry challenges and how technology can assist in successfully managing claims operations.

 

25) FINEOS Expands Reach within Canadian Market  - Company Announces Participation in Irish Trade Mission to Canada and Growth in Canadian Client Base FINEOS Corporation, a global provider of expertly developed and packaged componentized software solutions for the financial services industry, today announced its further expansion into the Canadian financial services market. The announcement comes as the company embarks on an Irish Trade Mission to Canada, sponsored by Enterprise Ireland.

 

26) AIA SAYS PRESIDENT?S WORKING GROUP REPORT HIGHLIGHTS NEED FOR INFORMED DEBATE ON LONG-TERM MANAGEMENT OF TERRORISM RISK - The President?s Working Group on Financial Markets (PWG) newly released analysis of the private terrorism insurance market clearly reinforces the need for a well-informed debate on how best to manage catastrophic terrorism risk for the long-term, according to the American Insurance Association (AIA).

 

27) The Hartford's Playbook for Life Promotes Financial Literacy at Howard University - Students Urged to Start Planning Now for Future Financial Success In its first D.C. campus appearance, Playbook for Life - the award-winning personal finance education program created by The Hartford Financial Services Group, Inc. (NYSE: HIG), working closely with the National Collegiate Athletic Association (NCAA), is bringing Personal Finance 101 to students at Howard University on October 3.

 

28) COMMENTS BY CHARLES E. SYMINGTON JR., SENIOR VICE PRESIDENT FOR GOVERNMENT AFFAIRS & FEDERAL RELATIONS, INDEPENDENT INSURANCE AGENTS & BROKERS OF AMERICA: - ?In light of both reports, the Big ?I? believes these findings highlight the need for a continued federal role for terrorism insurance, including NBCR, the most catastrophic attacks that expose consumers and taxpayers.

 

29) John Hancock Life Insurance Company Introduces Ground-Breaking Long Term Care Insurance (LTCI) Policy with Industry-First Benefits - John Hancock Life Insurance company today introduced a new LTCI policy with industry-first benefits geared to the needs and budgets of Baby Boomers. Called Leading Edge, the product offers new features that significantly reduce both the expense and complexity of buying LTCI.

 

30) John Hancock Launches New Current Assumption Survivorship Universal Life Insurance Policy - New Product Further Strengthens John Hancock's Universal Life Portfolio Versatile Product Has Competitive Premiums, High Cash Value Potential

 

31) XL Insurance Selected to Provide Brownfields Insurance for Massachusetts Redevelopment Program - XL Specialty Insurance Company today announced that it is the first insurance carrier qualified by the Commonwealth of Massachusetts' Brownfields Redevelopment Access to Capital program (MassBRAC) to participate in its recently revised brownfields insurance program. XL Specialty Insurance Company is part of XL Capital Ltd's insurance operations branded as "XL Insurance."

 

32) Employers Saved More than $4 Million Last Year through Midwest Business Group on Health's HMO Buyers Group  - 2007 rate increase lower than in 2006; lowest overall rate increase in Group history

 

33) Navigating the Shark Infested Waters of ERISA   - Top Disability Insurance Lawyer Says You Are Not Protected -- When the Employee Retirement Income Security Act (ERISA) was passed in 1974 it went on the books with little fanfare.

 

34) The Hartford Announces Pricing Terms for Exchange Offers - The Hartford Financial Services Group, Inc. (NYSE: HIG) announced today the pricing terms for The Hartford's new series of 6.10% senior notes due 2041 (the "new HFSG notes") which are to be issued in exchange for Hartford Life, Inc. 7.65% debentures due 2027 and 7.375% senior notes due 2031 (collectively, the "HLI notes").    

 

35) Scottish Re Group Limited Completes $120 Million Reinsurance Transaction  - Scottish Re Group Limited (NYSE: SCT), a global life reinsurance specialist, today announced that subject to finalization of customary treaty terms, it has completed a reinsurance transaction with an independent third party that will provide the Company with additional liquidity of up to $120 million.    

 

36) American Family Signs New Exclusive Deal with Solera - Partnership Represents the Largest Agreement in Industry History -- Solera announced today that American Family Mutual Insurance Company has selected Audatex, a Solera Company, as its vehicle direct repair claims management and technology partner. American Family, the third-largest mutual property and casualty insurer in the nation, has decided to switch to Audatex solutions for its vehicle repair claims technology, covering more than 2,700 users.  

 

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