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

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

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

 

1) AARP: Voters Favor Candidates Who Support a Plan For National Health Care Coverage - AARP 'Election Watch' Poll Finds Voters Support Minimum Health Care Benefits

 

2) BestWeek: U.S. P/C Industry Registers First-Half Underwriting Profit  --The U.S. property/casualty industry recorded an underwriting profit of $15.1 billion during the first six months of 2006, a 31.8% increase from the first six months of 2005, according to an exclusive A.M. Best special report excerpt in the Oct. 9 BestWeek.

 

3) Michigan Medical Malpractice Insurer & Risk Management Specialist FinCor Holdings Acquires Washington Casualty   - Acquisition Expands Company's Reach to Three Additional States FinCor Holdings, Inc. (http://www.fincorholdings.com ), an integrated risk management corporation serving health care providers and facilities, today announced its acquisition of Issaquah, Wash.-based medical malpractice insurer, Washington Casualty Company (WCC).

 

4) Bernanke urges US to fix entitlement programs soon - The longer U.S. policy-makers delay in putting Social Security and Medicare on a sound fiscal footing, the greater the burden on future generations, Federal Reserve Chairman Ben Bernanke said on Wednesday.

 

5) INSURANCE NEWSLINK Articles - Recent articles added to INSURANCE NEWSLINK, the worldwide, strategic concise intelligence database of over 27,000 articles including interviews, uniquely analysed by company, market, research, regulatory, and IT topics. Please click here for a content overview and a 15-day free review.

 

6) BANK INSURANCE NEWS IN BRIEF - OCTOBER 9, 2006

 

7) The Hartford Introduces New Professional Liability Insurance for the Business Services Industry  - Insurer finds nearly half of all business services firms go without protection; new product fills need for affordable, state-approved coverage

 

8) First American Capital Corporation Authorizes Sale of Stock to Brooke Corporation   - Decision facilitates future growth plans

 

9) Brooke Corporation Agrees to Acquire Controlling Interest in First American Capital Corporation  Brooke Corporation (Nasdaq: BXXX) today announced that it has entered into a definitive agreement to acquire 55 percent of the common stock of First American Capital Corporation for $3 million in cash and future performance-related consideration.

10) A.M. Best?s Methodology: Assessing the ?Tail Risk? of Sidecars - A.M. Best Co. has released its methodology, Assessing the ?Tail Risk? of Sidecars, which describes the criteria for estimating the tail risk of sidecars.

 

11) A.M. Best Special Report: Key Measures on Non-Rated Property/Casualty Companies  - A.M. Best Co.?s financial strength ratings (A++ to F) are assigned to companies based on a comprehensive quantitative and qualitative evaluation of a company?s balance sheet strength, operating performance and business profile.

 

12) A.M. Best Special Report: Market Update (1H 06)? Funding Agreement-Backed Securities  As evidenced by the decrease in volume over the same period last year, tight credit spreads and a flat yield curve tempered the issuance of funding agreement-backed securities (FABS) by U.S. life insurers, according to a special report by the A.M. Best Co. On top of the challenges posed by the interest rate environment, U.S. life insurers with FABS programs registered with the U.S. Securities and Exchange Commission (SEC) were required to comply with SEC Regulation AB for offerings commencing in 2006. The additional disclosure and reporting associated with the adoption of Regulation AB has increased issuance costs for SEC-registered FABS programs, especially for those with continuous retail offerings.

 

13) Blue Cross Blue Shield of Arizona Study Shows Health of Arizonans Lacking  - Poor Health Impacting Employee Absenteeism, Workplace Productivity  -- Three out of four Arizonans surveyed reported that their health could be improved and one in three have missed work due to health issues over the preceding three months according to a newly released study on the health of Arizonans conducted by Blue Cross Blue Shield of Arizona (BCBSAZ).

 

14) Insurance Marketing Podcast Explores the Needs of Independent Agents with Dick Poppa of IABNY ?The latest edition of ?The Insurance Marketing and Advertising Podcast? examines what independent agents expect of carriers and how carriers can better enter this channel, in an interview with Dick Poppa, president of the Independent Insurance Agents and Brokers of New York.

 

15) National Health Partners Announces Upcoming Launch of Health Advantage One --National Health Partners, Inc. (OTCBB: NHPR), a leading national healthcare savings organization that provides unique discount healthcare membership programs to uninsured and underinsured people through a national healthcare savings network called ?CARExpress,? announced today the upcoming launch of its CARExpress ?wrap-around? program initiative called ?Health Advantage One.?

 

16) Unified Group Services Selects Benefit Informatics for Online Benefit Management Solutions - Will Utilize Benefit Analyzer® and Benefit Planner® Web-Based Services -- Benefit Informatics Inc. announced a multi-year agreement to provide online benefit plan management technology to Unified Group Services, an Anderson, Indiana-based Third Party Administrator (TPA). Unified will implement Benefit Analyzer® and Benefit Planner® web-based services to help clients better understand, predict and manage benefit costs.

 

17) Fidelity National Financial, Inc. Announces the Receipt of IRS Private Letter  - Ruling; FNF, FNT and FIS Annual Meeting of Shareholders Dates Have Been Set; FNF Announces Expected Record Date and Distribution Date for the Contingent Distribution of FNT Stock to FNF Shareholders; FNF and FIS Announce Closing Date for the Merger of FNF with and into FIS

 

18) American General Life Launches Index Annuity with Five-Year, Seven-Year and Nine-Year Terms  - VisionAdvantageSM Index Single-premium Deferred Annuity Combines Duration Flexibility with Potential for Market Growth -- American General Life Insurance Company (American General Life), a member company of American International Group, Inc. (AIG), today introduced VisionAdvantage Annuity, an index single-premium deferred annuity that combines duration flexibility with potential for market growth.

 

19) ATF, Wisconsin Insurance Council Offer $10,000 Reward in Church Arson Investigation   - The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) is offering a reward of up to $5,000 for  information leading to the arrest and conviction of those responsible for the Sept. 30 fire at the St. Aidan's Episcopal Church in Hartford.

 

20) INSURANCE NEWSCAST ?Pictures Of The Day?

 

21) Horizon Health Corporation Announces Engagement of Financial --Horizon Health Corporation (NASDAQ:HORC) today announced that it has retained UBS Securities, LLC as its financial advisor to assist the Company in exploring strategic alternatives to enhance shareholder value. No assurance can be given that any transaction will be pursued or, if a transaction is pursued, that it will be consummated.

 

22) Insurance Commissioner John Garamendi Issues Cease and Desist Order Against Trip Assured Inc.  - Tennessee-based firm sold insurance without a license in California; allegedly targeted elderly and refused to pay claims

 

23) ADP Wilco announces Task Explorer solution - Automatic Data Processing, Inc. subsidiary ADP Wilco has announced the launch of Task Explorer, its new web-based intelligent task management solution to enhance workflow for international operations.

 

24) ADP Wilco launches SWIFT Service Bureau in Asia Pacific - Automatic Data Processing, Inc. (NYSE: ADP) subsidiary ADP Wilco has announced the launch of its SWIFT Service Bureau for banks, brokers, fund managers and any corporate users in Asia Pacific. The service provides fast-track access to the SWIFT network for the full range of SWIFT messages including securities, treasury, derivatives, payments and cash management, all in a secure data centre environment.

 

25) One location, two events?something for everyone at PIANY Hudson Valley RAP, PIANY/NYIA 2006 CEO/Agency Conference ? More than 250 insurance professionals attended the Professional Insurance Agents of New York State Inc.?s fourth-annual Hudson Valley Regional Awareness Program and the 2006 CEO/Agency Conference, co-sponsored by PIANY and New York Insurance Association. The daylong event was held yesterday at the Holiday Inn, Suffern, N.Y.

 

26) Online Advertising for the Insurance Agent:  A Cheaper Solution Proves Worthy - InsureMyHouse.com, a national directory of homeowners insurance agents, continues to grow as a valuable tool for both the homeowner and the agent.

 

26) Texas Green Industry Workers? Comp Group Announces Latest Dividend - Hotchkiss Insurance Agency, Inc. announced a $297,098 dividend to the Texas Green Industry (TGI) Workers? Comp purchasing group today. The announcement marked the second dividend payment for the group by Texas Mutual, the program underwriter.

 

27) Leading Florida Agency, Member of Assurex Global and FAIA, Chooses Artizan for Partnership - Lanier Upshaw, Inc., an Employee-Owned Agency, Doubles Their Business Without Huge Staff Increases Through Smart Technology Investments and Partners

 

28) ANNUAL IBHS CONFERENCE: MAKING THE RIGHT CONNECTIONS - The Institute for Business & Home Safety (IBHS) will again bring together insurance industry professionals, government officials, academics and others dedicated to reducing property losses at the organization?s Annual Conference. -- This year?s event will be held November 16 and 17 at the Hilton Walt Disney World Resort located at 1751 Hotel Plaza Boulevard, Lake Buena Vista, FL. 

 

29) Fort Dearborn Life Merges With Member Service Life -- Fort Dearborn Life Insurance Company, a subsidiary of Health Care Service Corporation (HCSC), a Mutual Legal Reserve Company, has successfully completed its merge with Oklahoma-based Member Service Life Insurance Company, also a subsidiary of HCSC.

 

30) Anderson Kill & Olick, P.C. presents a free seminar for Chicago-area businesses:  Event: Anderson Kill's D&O insurance seminar: Chicago 10/12 -- The Forgotten Promise - Strategies to Maximize the Value of D & O Insurance Thursday, October 12, 2006, 3:00-5:30 p.m.; cocktails 5:30-6:30 p.m. The Metropolitan Club, Sears Tower, 233 S. Wacker Dr

 

31) Five Life Insurance Companies Renew Membership in IMSA, Ethics Standards-Setting Organization - Five prominent life insurance companies have qualified to renew their membership in the Insurance Marketplace Standards Association (IMSA), the premier standards-setting organization for the life insurance marketplace.

 

32) New Insurance Firm Offers Savings and Security to Doctors; Medicus Insurance Company Enters Texas Malpractice Insurance Market  -- Medicus Insurance Company, a provider of comprehensive malpractice insurance to doctors, surgeons and related medical providers, is now offering coverage to Texas health care providers. Currently, there are more than 42,000 doctors in Texas.    

 

33) Converium agrees a collateral reduction on its letter of credit facility -- Converium agrees a collateral reduction on its letter of credit facility -- Converium has reached an agreement with its counter-party banks to reduce the level of collateral requirement on its USD 1.6 billion letter of credit facility. As a result of the reduced level of collateral Converium will free up around USD 110 million of assets on its balance sheet.

 

34) Recruiting Survey: As Worker Loyalty Fades, Personality Fit is Critical for Hiring and Retention - Whitepaper summarizes survey findings that show high employee turnover stems from short-sighted hiring practices 

 

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