INSURANCE NEWSCAST "Headlines Only Edition" for: Monday, 10/16/06

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INSURANCE NEWSCAST "Headlines Only Edition" for: Monday, 10/16/06  

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

 

1) UnumProvident rises on takeover speculation - Fri Oct 13, 2006 11:34am ET NEW YORK (Reuters) - UnumProvident Corp. (UNM.N: Quote, Profile, Research) shares rose nearly 8 percent on Friday on speculation the group life insurance company was going to be acquired.

 

2) PIA Asks U.S. District Court to Delay - Approval of Class Settlement Involving Insurers - Main Street Agents Ask Court for Hearing to Fix Flawed Disclosure Statement -- WASHINGTON, Oct. 12 /PRNewswire/ -- The National Association of Professional Insurance Agents (PIA National) has asked the U.S. District Court for the District of New Jersey to delay preliminary approval of a class settlement with Zurich Insurers until flaws in a mandatory disclosure statement are corrected.

 

3) Health Care Organizations Still Struggling to Attract, Retain Workers, Watson Wyatt Survey Finds - WASHINGTON, Oct. 11 /PRNewswire-FirstCall/ -- U.S. health care organizations aren't making much progress in the war for talent, and are finding it especially difficult to hold on to registered nurses and other critical-skill workers, according to a survey by Watson Wyatt Worldwide, a leading global consulting firm, and the American Society for Healthcare Human Resources Administration (ASHHRA).

 

4) Universal Insurance Holdings? Subsidiary Approved for $25 Million Surplus Note  - FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Universal Insurance Holdings, Inc. (OTCBB:UVIH), a property and casualty insurance provider, announced that its wholly owned subsidiary, Universal Property and Casualty Insurance Company (UPCIC), has been approved by the State Board of Administration of Florida for a $25 million surplus note in connection with Florida?s Insurance Capital Build-Up Incentive Program. The program was implemented by the Florida legislature to encourage private insurance companies to write residential insurance coverage.

 

5) Employees Are Still Missing Out On the Benefits of Consumer Driven Healthcare  - New Data from WageWorks' Points to Lack of Guidance and Education as a Possible Factor; Upcoming Benefits Open Enrollment Season Provides a Chance to Correct Past Mistakes

 

6) Assurity at Work introduces flexible Accident Expense+, Disability Income+ - Assurity at Work has introduced Accident Expense+ and Disability Income+, two flexible new insurance plans designed to provide working employees and their families protection from the potentially devastating financial impact of accidents and sickness.

 

7) Key Benefit Resources to offer worksite products to ?Meet the Need of Working Americans? -  October 9, 2006 - Industry announcement letter? Dallas, Texas -- Key Benefit Resources -- Ken Holderbaum and Steve Bell formerly of Transamerica Worksite Marketing have joined Larry Dust CEO of Key Benefit Administrators in the formation of a new company, Key Benefit Resources to offer worksite products to ?Meet the Need of Working Americans?. 

 

8) Morgan Stanley in talks for hedge fund firm stake - NEW YORK, Oct 13 (Reuters) - U.S. investment bank Morgan Stanley (MS.N: Quote, Profile, Research) is in advanced talks to acquire a 20 percent stake in Avenue Capital Group, a hedge fund firm that buys distressed debt worldwide, for as much as $400 million, people briefed on the situation said on Friday.

 

9) Kansas State Professor's New Book Offers Tips on Lowering Health Care Costs - Contact: Fred Brock for Kansas State University, 785-532-3958 or feb2@k-state.edu -- MANHATTAN, Kan., Oct. 12 /U.S. Newswire/ -- Fred Brock, a Kansas State University professor and New York Times contributor, can tell the tale of the status of the United States' health care system with a few statistics:

 

10) eHealth, Inc. Announces Pricing of Its Initial Public Offering of Common Stock  - MOUNTAIN VIEW, Calif., Oct. 12 /PRNewswire/ -- eHealth, Inc. today announced the pricing of its initial public offering of 5,000,000 shares of common stock at a price of $14.00 per share. eHealth has also granted the underwriters a 30-day option to purchase up to 750,000 additional shares.

 

11) American Stock Exchange to Trade Options on Mercury General Corporation   - NEW YORK, Oct. 12 /PRNewswire/ -- The American Stock Exchange(R) (Amex(R)) will launch trading in options on Friday, October 13, 2006 on the following New York Stock Exchange listed stock of:  -- Mercury General Corporation (Stock Symbol: MCY)

 

12) IRMI Construction Risk Conference Attracts Another Capacity Crowd - San Diego?Approximately 1,500 risk managers, agents, brokers, attorneys, and underwriters who specialize in managing or insuring the risks associated with construction projects convened here October 9-12 for the 26th IRMI Construction Risk Conference. This marks the second consecutive year for the Conference to reach full capacity; it is the largest gathering of construction risk professionals in the world.

 

13) Humana Teams Up With Best-Selling ''You'' Authors Dr. Michael Roizen and Dr. Mehmet Oz to Bring Health Information to Consumers  - LOUISVILLE, Ky.--(BUSINESS WIRE)--Humana Inc. (NYSE: HUM) today announced a new partnership with New York Times #1 best-selling authors Dr. Michael Roizen and Dr. Mehmet Oz. The partnership provides Humana with a unique integrative and creative cross-promotional opportunity with two well-respected medical experts.

 

14) FTWILLIAM.COM ANNOUNCES THE RELEASE OF A BATCH PRINT FEATURE FOR SAFE HARBOR NOTICES - Milwaukee, WI October 12, 2006 - Software developer ftwilliam.com announced today the upgrade of its batch print feature to its retirement/welfare plan document software. The batch print module now also permits a document preparer to print 401(k) safe harbor notices for all clients in a few easy steps using client data already entered in the ftwilliam.com document system. 

 

15) LifeCare® Aging Poll: What Lifestyle Change Would You Make? - WESTPORT, Conn., October 11, 2006 -- Getting fitter -- physically and fiscally -- -tops the lifestyle "wish list" of most people as they get older, according to a poll by LifeCare®, Inc., provider of comprehensive specialty care services and a longtime leader in the work/life industry. The poll was conducted on LifeCare's private web site during the month of September and asked participants, "If you were to change one thing about your lifestyle as you age, what would it be?" The results were:

 

16) Metropolitan Reporting Bureau and Guidewire Software Announce Alliance - Joint Effort Offers Guidewire Clients a Fully-Integrated Solution for Streamlined Ordering, Tracking and Receipt of Public Safety Reports

 

17) AllAboutVision.com Launches Vision Insurance Section  - LA JOLLA, Calif--(BUSINESS WIRE)--Do you understand or know how to use your vision benefits or vision discount plan? AllAboutVision.com has a new vision insurance section for consumers ? http://www.allaboutvision.com/vision-insurance/ ? that is designed to demystify the confusing topic of vision benefits.

 

18) The Governor?s Highway Safety Office, Ohio DPS & 21st Century Insurance Sponsor Child Safety Seat Fair  - Actor Erik Estrada to Help Deliver Safety Message at Child Seat Safety Inspection Fair in Dayton on October 14

 

19) Aetna Further Reduces Administrative Expenses by Streamlining Corporate and Business Operations  - -- Part of a Continuing Effort to Provide Affordable Health Coverage --

-- Goal is Better Alignment of Resources for Customers --

-- Company to Record Fourth-Quarter After-Tax Charge of Approximately $20 Million --

 

20) INSURANCE NEWSCAST ?Pictures Of The Day?

 

21) SSPC Introduces New Flexible Benefits Program   - Plan Offers Enhanced Perks for Corporate Members -- PITTSBURGH, Oct. 13 /PRNewswire/ -- SSPC: The Society for Protective Coatings is pleased to announce its new Flexible Benefits Program for Corporate Members. For years, SSPC has provided its members with benefits that enhance their operations and promote their businesses, including free books and standards, blocks of individual memberships, generous discounts on meetings and conferences, and publicity opportunities through SSPC and its monthly magazine, the Journal of Protective Coatings and Linings.

 

22) ILOG Invests in Prima Solutions   - PARIS, Oct. 13 /PRNewswire-FirstCall/ -- ILOG(R) (Nasdaq: ILOG; Euronext: ILO, ISIN: FR0004042364) today announced it will pay euro 3.3M ($4.1 million) to acquire 33 percent ownership in Prima Solutions, a Paris-based provider of insurance software platforms. The move is expected to strengthen the partnership between the two companies and support the deeper penetration of ILOG's business rule management systems (BRMS) in the insurance industry through a closer business and technical relationship. Prima is also an ILOG independent software vendor (ISV) partner.

 

23) IMaCS Licenses Medical Insurance Product From Cash Technologies Subsidiary   - Agreement Will Automate the Calculation of Patient Out-of-Pocket Expenses -- LOS ANGELES, Oct. 12 /PRNewswire-FirstCall/ -- Cash Technologies, Inc. (Amex: TQ) announced today that its wholly owned subsidiary, Claim-Remedi Services, Inc. has entered into a non-exclusive, three-year Services/License Agreement (the "Agreement") with Innovative Managed Care Systems, Ltd. ("IMaCS"). IMaCS is a division of Accuro Healthcare Solutions, a premier provider of business technology for healthcare. The Agreement provides for per-transaction fees that could potentially generate more than $4 million over the life of the agreement based on projected transaction volumes and pricing.

 

24) Health Insurance Plans and Pharmacists Launch National Medicare Part D Education Campaign   - AHIP, NACDS, and NCPA Unveil New Medicare Drug Plan Guide To View the Guide: http://www.heathdecisions.org/guide -- WASHINGTON, Oct. 12 /PRNewswire/ -- In a coordinated effort to ensure that seniors make informed health coverage decisions, health insurance plans and community pharmacists today launched a new national educational campaign to help Medicare beneficiaries evaluate their prescription drug plan choices for 2007.    

 

25) Fidelity National Financial, Inc. Announces Required Executive Option Exercises Under Securities Exchange and Distribution Agreement Related to the Distribution of FNT Common Stock to FNF Shareholders and the Merger of FNF With and Into FIS   - JACKSONVILLE, Fla., Oct. 10 /PRNewswire-FirstCall/ -- Fidelity National Financial, Inc. (NYSE: FNF), a Fortune 500 provider of outsourced products and services to a variety of industries, today announced that William P. Foley, II, Alan L. Stinson and Brent B. Bickett have exercised the required FNF stock options pursuant to the terms of the option letter agreement under the Securities Exchange and Distribution Agreement ("SEDA") related to the distribution of Fidelity National Title Group, Inc. (NYSE: FNT) common stock to FNF shareholders and the merger of FNF with and into Fidelity National Information Services, Inc. (NYSE: FIS).

 

26) Group Health Announces 20 to 80 Percent Cuts in Member-Paid Share for Its Plan Under Washington Basic Health   - SEATTLE, Oct. 9 /PRNewswire/ -- Group Health Cooperative today announced cuts of 20 to 80 percent in the monthly premiums paid by low-income residents for Group Health coverage within the state-subsidized Basic Health program in 2007.

 

27) Foundation Source Announces Partnership with Pierro Law Group, LLC To Provide Firm?s Clients with Services for Private Foundations  - Firms to Co-Host Philanthropy Forum for Financial Advisors, Attorneys and CPA?s On the Family Benefits of Private Foundations and Philanthropy

 

28) WKF&C Agency, Inc. Writing E&S Property Limits up to $25 million - Melville, New York.?Tom Wilson, president of WKF&C Agency, Inc. recently announced that they have completed their agreement with a non-admitted insurance market rated A++ AX by A.M. Best. Effective Sept. 15, 2006, WKF&C will handle all surplus lines property accounts with total insured value (TIV) of $25 million and under.

 

29) National Society of Professional Insurance Investigators 2006 Advanced Insurance Fraud Seminar - November 13-14, 2006 - Hilton Cincinnati Netherland Plaza - Early Bird Rate: $300 for NSPII members and $380 for non-members until October 20, 2006

 

30) The Jacobson Group opens LOS ANGELES/ORANGE COUNTY OFFICE, Further Expanding National Presence  - LOS ANGELES ? The Jacobson Group further expands its national presence with the opening of its 12th office in Los Angeles/Orange County. The niche human capital and professional services firm?s new office will primarily provide temporary and temp-to-hire services to area insurance, healthcare and financial service organizations through its flexible delivery arm, Jacobson Solutions. 

 

31) Willis Expands Captive Services in Sweden - London, UK, October 2, 2006 ? With an ever increasing number of companies looking to captives as an alternative to the volatility of the traditional insurance market, the need for sophisticated planning, strategy and in-depth actuarial services is of paramount importance. In response to this demand, Willis Group Holdings (NYSE:WSH), the global insurance broker, today announces the establishment of a Swedish-based captive advice and management operation, Willis Management (Stockholm) AB, as an addition to its Global Captive Practice.

 

32) Guidance from Doctors on Long Term Care Insurance; Information from Atlanta-based Agency to Be Available in Waiting Rooms  - Atlanta, GA, October 2 - In a doctor?s office near you, look for facts on a matter of growing concern, long term care insurance. Starting today, informative waiting room displays are being supplied to physicians by LTC Financial Partners LLC, the nation?s most experienced long term care insurance brokerage.

 

33) 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.

 

34) NEW YORK LIFE FOUNDATION GRANTS $225,000 TO GROUNDWORK?S AFTER-SCHOOL PROGRAM FOR MIDDLE SCHOOL STUDENTS  - Three-Year Grant Funds ?Middle Ground? Program That Offers After-School Activities For Brooklyn Youth  -- NEW YORK, N.Y., October 3, 2006 ? Groundwork, Inc. announced today a three-year, $225,000 grant from the New York Life Foundation which will fund the expansion of the Middle Ground after-school program by supporting additional staff, developing new curriculum, and providing educational materials and supplies.

 

35) Understand the Developments in ERISA Implications for Retirement Plans in Venture Funds inside a Recent Virtual Leadership Seminar?  - DUBLIN, Ireland--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/reports/c43211) has announced the addition of Virtual Leadership Seminar: Key Provisions for ERISA Investors Investing in a Private Equity Fund to their offering.

 

36) Explore Quantitative Methods and Practical Aspects of Actuarial Science and Insurance with This Encyclopedia  - DUBLIN, Ireland--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/reports/c43553) has announced the addition of ?Encyclopedia of Actuarial Science, 3-Volume Set? to their offering.  

 

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