INSURANCE NEWSCAST "Headlines Only Edition" for: Monday, 10/09/06

[acinatech@yahoo.com]

INSURANCE NEWSCAST can be read online at www.insurancebroadcasting.com

INSURANCE NEWSCAST "Headlines Only Edition" for: Monday, 10/09/06  

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

 

1) The Workplace Benefits Association ? The New Leader In Workplace Benefits Consulting & Advice ? Marketing Manuals & Materials Released To Members (Part 5 0f 5)

Twinsburg, OH - 10/09/06 --The Workplace Benefits Association today released the following set of materials to members:

 

2) Terror risk insurance market improving-Bush panel

By David Lawder  WASHINGTON, Oct 2 (Reuters) - A federal backstop for terrorism risk insurance has improved the affordability and availability of coverage since the September 11 attacks, but is hampering private-sector development in some areas of the market, a Bush administration panel report showed on Monday.  The panel, chaired by Treasury Secretary Henry Paulson, stopped short of saying whether the Terrorism Risk Insurance Act should be extended beyond December 2007.

 

3) IBM signs Cigna to seven-yr deal worth $723 mln

SAN FRANCISCO, Oct 4 (Reuters) - Health insurer Cigna Corp. (CI.N: Quote, Profile, Research) has agreed to a seven-year deal worth roughly $100 million a year for the computer services arm of IBM (IBM.N: Quote, Profile, Research) to build and run its key business systems, IBM said on Wednesday.

 

4) U.S. Labor Department Launches Interactive Web site to Help Employers Comply with Health Benefit Laws

Contact: Gloria Della, 202-693-8664 or Peter Hong, 202-693-4676, both of the U.S. Department of Labor Office of Public Affairs   WASHINGTON, Oct. 5 /U.S. Newswire/ -- The U. S. Department of Labor's Employee Benefits Security Administration (EBSA) today announced the launch of a new interactive Web site to serve as a resource for employers in complying with the various federal health benefit laws. The Health Benefits Advisor is designed to help employers and other plan officials understand their responsibilities in operating group health plans.

 

5) U.S. Labor Department Enters Settlements With Connecticut Investment Firms to Restore $8.8 Million Owed to Pension Plans

BOSTON, Oct. 3 /PRNewswire-USNewswire/ -- The U.S. Department of Labor has obtained settlements in which Circle Trust Company (CTC) of Darien, Conn.; Trust Advisors LLC; and certain corporations and individuals agreed to restore more than $8.8 million to 1,500 pension plans nationwide. The settlements relate to pension plan investments in Trust Advisors Stable Value Plus Fund (SVF), a collective trust administered by CTC. Circle Trust also agreed to allow a $10 million priority proof of claim in its receivership proceedings. CTC was placed in receivership on Sept. 30, 2005, by the Connecticut Banking Commission.

 

6) Drugstores hit again on Wal-Mart generics

Fri Oct 6, 2006 2:02pm ET

Street analysts rushed to the defense of CVS Corp. (CVS.N: Quote, Profile, Research) and Walgreen Co. (WAG.N: Quote, Profile, Research) on Friday, saying Wal-Mart Stores Inc.'s (WMT.N: Quote, Profile, Research) expanded $4 generic drug plan would have minimal impact, but drugstore stocks continued to slide.  CVS dropped nearly 8 percent while Walgreen shed about 4.5 percent, extending losses from Thursday when Wal-Mart announced that it was rolling out its cut-price generic drugs program across Florida months earlier than planned, and hoped to quickly expand to other states.

 

7) PCMA: Pharmacy Benefit Managers Tools, Techniques Lower Prescription Drug Costs for Consumers, Payors

 WASHINGTON, Oct. 5 /U.S. Newswire/ -- The Pharmaceutical Care Management Association (PCMA) released the following statement in response to yet another attack from the drugstore lobby on affordable prescription drugs for seniors and the disabled:  "The tools and techniques pioneered by pharmacy benefit managers (PBMs) are projected to save consumers and private and public payors at least $1.3 trillion on drug spending by 2014. These savings mean that working families have more money to spend on groceries, rent, and other necessities. For employers, these savings help the US economy remain more competitive and allow them to create new jobs and continue to offer health benefits to their workers.

 

8) Independence Holding Company Announces Agreement to Acquire CA Marketing and Management, LLC

STAMFORD, Conn.--(BUSINESS WIRE)--Independence Holding Company (NYSE: IHC) today announced that it has entered into an agreement to acquire, as of January 1, 2007, CA Marketing and Management Services, LLC (?CAM?). CAM is a leading health insurance marketing company headquartered in Bloomington, MN offering consumer-directed health plans to individuals and small employers through multiple distribution channels in most states.

 

9) St. Paul Travelers to Join EPA?s Climate Leaders Program

SAINT PAUL, Minn.--(BUSINESS WIRE)--The St. Paul Travelers Companies, Inc. (?St. Paul Travelers,? NYSE:STA) announced today its participation in the U.S. Environmental Protection Agency?s (EPA) ?Climate Leaders? program as part of its continued commitment to sustainable business practices and focus on improving the environment of the communities in which it does business. St. Paul Travelers is one of the first insurance companies to join Climate Leaders, the EPA?s industry-government partnership that works with companies to develop long-term comprehensive climate change strategies and reduce greenhouse gas (GHG) emissions.

 

10) Norwich Union Deploys Teradata Active Data Warehouse for ''Pay As You Drive''TM Insurance

DAYTON, Ohio--(BUSINESS WIRE)--Teradata, a division of NCR Corporation (NYSE:NCR), today announced that its active data warehouse will support the full launch of Norwich Union?s ?Pay As You Drive?TM insurance service into the United Kingdom market later this year.   The only insurer in the United Kingdom to offer a usage-based auto insurance policy, Norwich Union has been testing ?Pay As You Drive? insurance since 2004, when a pilot of 5,000 motorists was launched.

 

11) CNA Recommits to Inland and Ocean Marine

CHICAGO--(BUSINESS WIRE)--As many carriers restructure and develop separate Inland and Ocean Marine Departments, CNA Marine is recommitting its energy and expertise into a unit dedicated to the success of both major lines of business. The primary goal of Richard Pye, recently named to the leadership role in this growth initiative, is to seamlessly bring the organizations together with a unified team dedicated to the success of CNA?s regional structure.

 

12) athenahealth Releases First ''PayerView'' Ranking for Texas Health Insurers and Payers; Humana and Aetna Pay Texas Physicians the Fastest

WATERTOWN, Mass. and HOUSTON--(BUSINESS WIRE)--athenahealth, Inc., the premier provider of web-based services, knowledge, and software for medical practices, today released its ?PayerView? rankings for the state of Texas. The Texas PayerView rankings analyze claim performance data from more than 330 providers and 59 medical practices using athenahealth?s athenaNet® database. Texas? health insurers and various payer organizations are ranked according to specific measures of financial and administrative performance and medical policy complexity in payment performance with physicians as these are experienced by the users of athenahealth?s systems. Texas is the first PayerView state ranking athenahealth has released.

 

13) Health Net to Offer Prescription Drug Plan Nationally in 2007

Will Enter Private Fee-For-Service Markets in Seven States

Intends to Expand Retail Stores to Service

Senior Health Insurance Needs

LOS ANGELES--(BUSINESS WIRE)--Health Net, Inc. (NYSE:HNT) today announced that it intends to expand its Medicare Part D prescription drug plan (PDP) offerings to all 50 states and the District of Columbia in 2007. In addition, the company intends to enter the private fee-for-service Medicare Advantage market by offering such plans in seven states. Health Net also will expand its traditional Medicare Advantage plans into four new counties in 2007 and will open additional retail outlets.

 

14) Culture And Values Differentiate Successful P&C Companies, Says XL Capital Ltd President And CEO Brian M. O'Hara 

HAMILTON, Bermuda, Oct. 5 /PRNewswire-FirstCall/ -- XL Capital Ltd (NYSE: XL) ("XL") President and Chief Executive Officer Brian M. O'Hara today told delegates at the XL Congress, the first global risk conference of its kind that XL has held in the U.S., that property and casualty insurance companies with strong underlying corporate cultures and values will differentiate themselves from their competitors.

 

15) Q.Know Named to Microsoft's Insurance Value Chain 

- Joining Microsoft at the Industry's Distinguished Greenbrier Conference -

WHITE SULPHUR SPRINGS, W.Va., Oct. 5 /PRNewswire-FirstCall/ -- Q.Know Technologies, Inc., a global provider of advanced information management software, announced today that it has been named by Microsoft as the newest member of its Insurance Value Chain (IVC) program. As such, Q.Know has been invited to demonstrate its enterprise software as Microsoft's guest in the Cyber Cafe at the prestigious Insurance Leadership Forum, hosted by the Council of Insurance Agents and Brokers, at The Greenbrier in White Sulphur Springs, West Virginia, October 7-11.

 

16) Triad Healthcare Selects MD On-Line, Inc. for Electronic Claims Processing 

A Special Free Offer for New Jersey Providers Who Submit Claims to Triad Healthcare Inc. for Aetna HMO-based Members (Including Medicare)

PLAINVILLE, Conn., Oct. 5 /PRNewswire/ -- Triad Healthcare, Inc., known as one of the country's most innovative specialty health care companies, today announced that it has selected MD On-Line, Inc. for provider submission of electronic claims for its Aetna-HMO (including Medicare) based members in the following counties in New Jersey:

 

17) Leading Employee Benefits Broker - Corporate Synergies - To Open Manhattan Office

- Corporate Synergies Answering New York Employers? Demands to Save Money on Healthcare Insurance Costs -

- New Park Avenue Offices ?

NEW YORK--(BUSINESS WIRE)--Corporate Synergies Group, Inc., a leading benefits brokerage and consultancy based in Mt. Laurel, New Jersey, announced today the opening of a new office in Manhattan. Located at 2 Park Avenue, the office is the newest addition to four other established Corporate Synergies sites in the North-east corridor: Mt. Laurel and Paramus in New Jersey, and King of Prussia and Lancaster in Pennsylvania.

 

18) APEX DATA SYSTEMS Licenses Cognac Express With TOPA BENEFIT PLAN

TUCSON, Arizona. Sept. 19, 2006?Apex Data Systems Inc. announced it has signed a multi-year agreement to provide benefit plan administration and claims payment management technology to Topa Health Plan. The Los Angeles,California-based Conglomerate has implement Cognac Express, the consolidated administration and claims payment solution from Apex Data Systems.

 

19) MARKEL INTRODUCES DEPENDENT-ONLY LIMITED BENEFIT PROGRAM

Richmond, VA?October 5, 2006:  Markel Insurance Company today announced the introduction of dependent-only coverage as an option available with their Markel Basic Health insurance program. The program is primarily for groups with 50 or more eligible employees.  ?This program is ideal for companies that pay most or all of the employee-only cost of health insurance, but have very low dependent participation,? said David Higgs, National Program Manager. ?It provides a meaningful level of coverage for dependents who would otherwise go uninsured.?

 

20) INSURANCE NEWSCAST ?Pictures Of The Day?

 

21) ISO ANNOUNCES PENDING ACQUISTION OF THE ASSETS OF URIX, A LEADING PROVIDER OF HEALTHCARE ANALYTICS AND REPORTING SOLUTIONS

URIX AND DxCG ASSETS TO BE COMBINED, JOHN J. FARRELL TO BE NAMED PRESIDENT OF NEW ENTITY

JERSEY CITY, N.J., Oct. 5, 2006 ? ISO today announced its immediate plans to acquire the assets of Urix, a leading provider of cutting-edge healthcare analytics and employer reporting solutions. Terms have not been disclosed.  Urix, based in Cheshire, Conn., has successfully developed comprehensive web-based business solutions that enable health insurers, national brokerage firms and large employers to derive strategies to improve the quality of health care while lowering the cost of delivery. Urix is a leading developer of  web-based healthcare analytic solutions that are both scalable and cost-effective on a national level.

 

22) Mitchell Holds First Annual Drive2Performance Collision Repair Conference

Industry leaders gather in San Diego to address pressing business concerns of collision repair shops

San Diego, Calif.-- October 5, 2006 -- Mitchell International, a leading provider of information, workflow, and performance management solutions to the automotive insurance claims and collision repair industries, today announced that it held its first annual Drive2Performance collision repair conference on September 13?15 in San Diego, California. The two-day conference brought together leading industry professionals to explore current and emerging trends impacting collision repairers, and to discuss new strategies, practices, and tools by which shops can remain successful in an increasingly competitive market.

 

23) Advisen Ltd Signs Strategic Partnership with Web Connectivity

NEW YORK & LONDON ? Oct 2, 2006 ? Advisen Ltd. (?Advisen? or ?the Company?), the leading provider of exposure and market data, analytics, and benchmarking to the global commercial insurance industry, and Web Connectivity Ltd. (?Web Connectivity?), the foremost provider of standards-based XML messaging Gateway solutions for the commercial insurance industry, are pleased to announce a strategic partnership.

 

24) U.S. Risk Announces New Medical Malpractice Coverage For Long-Term Care Medical Directors

Dallas ? October 2, 2006 ? U.S. Risk Underwriters, a specialty lines underwriting manager and wholesale broker, today announced that it has introduced a new medical malpractice insurance product for physicians practicing as medical directors in long-term care facilities, including skilled care, assisted living and continuing care retirement communities (CCRCs).  The medical malpractice policy has limits to $1 million/$3 million, a standard deductible of $5,000 and a consent-to-settle with a hammer clause. The policy includes a condition that requires long-term care facilities to cover the medical director's administrative duties and carry equal professional insurance limits or policy limits become lower ($100,000/$300,000).

 

25) Praetorian Financial completes acquisition of Excess and Surplus Carrier

New York, October 2, 2006 ? Praetorian Financial Group, Inc., a leader in specialty insurance, today  announced it has completed the acquisition of Alea North America Specialty Insurance Company (ANASIC), which following regulatory approval will be renamed Praetorian Specialty Insurance Company.  First announced in May, the acquisition will provide Praetorian and its business partners greater geographic reach as well as the ability to write a wider range of risks. The non-admitted carrier is authorized to write business in 38 states including New York, California and Texas.

 

26) BestWeek: A.M. Best Roundtable Probes Reinsurers' Views on U.S. Collateral Requirements

OLDWICK, N.J.--(BUSINESS WIRE)--The long-running debate over U.S. collateral requirements for alien reinsurers may come to a head by the end of this year, as the National Association of Insurance Commissioners' reinsurance task force works toward a draft proposal on changing the rules.  To gauge the opinions of insurance executives on the issue, BestWeek brought together representatives from three top players. William R. Berkley, chairman and chief executive officer of W.R. Berkley Corp., a U.S.-based insurer and reinsurer, defended the current collateral structure as the best available method of ensuring claims payments for U.S. insurers.

 

27) Harris Investor Services Selects AdviceAmerica?s Financial Planning Platform to Enhance Client Service and Grow Revenue

AdvisorVision® Arms Advisors with Powerful, Easy-to-Use Financial Planning Tools and Lead Generation Capabilities

Fremont, CA, Oct. 3, 2006 ? AdviceAmerica, Inc. (www.adviceamerica.com), a leading provider of financial planning software, today announced that Harris Investor Services, an affiliate of Harris N.A. (www.theharris.com) and part of the $312 billion BMO Financial Group, has selected AdviceAmerica?s award-winning enterprise-class financial planning solution, AdvisorVision® to enhance client service and grow revenue.  AdvisorVision?s powerful, yet easy-to-use, robust suite of web-based planning tools, arms advisors with the solutions they need to provide clients with expert advice and identify opportunities to cross-sell services and products offered by other business units.

 

28) ACORD LOMA Forum Issues Call for Speakers

2007 ACORD LOMA Insurance Systems Forum to be Held May 20-22 in Florida

PEARL RIVER, NY and ATLANTA, GA - October 2, 2006 - ACORD (www.acord.org) and LOMA (www.loma.org) issued their official request for speakers for the 2007 ACORD LOMA Insurance Systems Forum today. Official applications and information are available on the Forum Web site at www.acordlomaforum.org.

The 2007 Forum will be held at the Walt Disney World® Dolphin in Lake Buena Vista, FL, May 20-22, 2007.

 

29) Health Seekers Get Their Own Social Networking Site

Former iVillage and Privacy Council Executives Launch OrganizedWisdom.com to Help Families, Groups, and Health Care Professionals Collaborate and Share Health Knowledge

New York, NY ? October 3, 2006 -- OrganizedWisdom, LLC today announced that it has launched the first health-focused social networking site, where consumers, health care professionals, and health organizations can collaborate and share knowledge on more than 6,500 health topics.  OrganizedWisdom.com was founded by Internet industry veterans Steven Krein and Unity Stoakes to improve how people find and share health information by linking trusted, evidence-based information with practical user-generated health advice, ratings and recommendations.

 

30) New York Appellate Court Overturns Trial Court, Finds that Earth Movement Exclusion Does Not Apply to Third Party Excavation

New York (Oct. 3, 2006) -- The New York Appellate  Division, First Department has dealt a blow to the property insurance industry's campaign to expand the scope of the "earth movement" exclusion contained in most first-party property insurance policies.  Deborah Lee v. State Farm Fire & Casualty Co., No. 16316/03 (Sept. 19, 2006).  The insurance industry has repeatedly interpreted this provision, which typically excludes coverage for damage caused to property by 'sinking, rising, shifting, expanding, or contracting of earth, all whether combined with water or not', to exclude coverage for a wide range of occurences, including damage caused to a property by human activity rather than by an act of nature.

 

31) APPRIVER REMOVES LIMITS ON MAILBOX STORAGE FOR HOSTED MICROSOFT EXCHANGE SERVICE

Network Administrators Receive Unlimited Mailbox Storage for First Time

GULF BREEZE, FL, October 3, 2006 ? AppRiver LLC, a leading provider of business email security solutions, announced today that it will offer unlimited mailbox storage as part of its Microsoft Exchange Hosting service, which will continue to cost businesses just $12.95 per mailbox per month and includes SecureTide?, the company?s powerful inbound and outbound spam and virus protection.  Currently, most hosted Exchange vendors offer 200 MB to 500MB of storage, requiring IT administrators to continually manipulate storage allocation and closely monitor the Exchange Hosting line item in their budget. The unlimited plan from AppRiver removes the time consuming task of quota management, enabling businesses to benefit from the collaboration and mobility offerings of Exchange without storage limitations.

 

INSURANCE NEWSCAST from InsuranceBroadcasting.com
9221 Ravenna Road, Suite #D8, Twinsburg, OH 44087
888-282-1765   --- 330-425-8399