INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 11/01/06

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INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 11/01/06  

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

 

1) Northwestern Mutual to Pay Policyowners $4.63 Billion in Dividends  - Company Continues to Lead Industry in Total Life Insurance Dividends Most Permanent Life Policies to Earn 7.5% on Unborrowed Funds

 

2) Permission granted for amicus brief appeal in support of independent agent - TRENTON, N.J.?The Professional Insurance Agents of New Jersey Inc. and the Independent Insurance Agents and Brokers of New Jersey have been granted permission by the New Jersey Appellate Division to file an amicus brief in an important case involving the standard of care insurance producers owe to their customers.

 

3) Walter J. Gdowski - President and CEO, The Rough Notes Company -- Entering the insurance industry through the media niche enabled Walter J. Gdowski to capitalize on a broad perspective. But something happened after Walt?s marketing and communications background brought him to The Rough Notes Company in 1978. He fell in love with the industry!

 

4) Morgan Stanley agrees to buy FrontPoint - NEW YORK, Oct 31 (Reuters) - Investment bank Morgan Stanley (MS.N: Quote, Profile, Research) on Tuesday said it agreed to acquire hedge-fund firm FrontPoint Partners LLC, the investment bank's second hedge-fund investment in as many days.

 

5) MetLife shares fall as sales growth disappoints - NEW YORK, Oct 31 (Reuters) - Shares of MetLife Inc. (MET.N: Quote, Profile, Research), the largest U.S. life insurer, fell as much as 4 percent in late trading on Tuesday a day after the company posted stronger-than-expected earnings but weak sales growth.

 

6) Former Zurich Financial SERVICES GLOBAL CORPORATE-chief Claims Officer, DaVID M. SIESKO, LAUNCHES consulting firm to resolve insurance disputes, AVOID COSTLY LITIGATION  - ? Siesko Partners to Counsel Corporations, Leading Insurance Companies ? NEW YORK, October 31, 2006 ? David M. Siesko, the former Global Corporate-Chief Claims Officer at Zurich Financial Services (ZURN.VX; ZFSVF.PK), has launched a consulting firm designed to provide advisory services to both corporations and carriers embroiled in insurance-related disputes.

 

7) LABOR DEPARTMENT ISSUES NEW GUIDANCE ON HSAs: Guidance Should Enhance Employer Adoption of HSAs - Lake Geneva, WI PR Web October 30, 2006--On Friday, October 27, the U.S. Department of Labor issued additional guidance concerning Health Savings Accounts (HSAs). The new guidance addresses specific actions by employers, such as paying for employees? HSA account fees, when establishing and contributing to HSA accounts for their employees.

 

8) Independent Insurance Agents & Brokers of NY Exec to Discuss ?Reaching Main Street? During Marketing, Advertising Summit - Speech to Occur during 9:30 a.m. Session of IMA-AM Best Presentation. -- (DeWitt, New York, Oct. 31, 2006) ? Richard A. Poppa, CEO and president of the Independent Insurance Agents & Brokers of New York, Inc., will address the 2006 Insurance Marketing and Advertising Summit on the importance of the independent agency system. The Nov. 3 Insurance Media Association-A.M. Best Company?s co-presentation will be held at the University Club of New York, Manhattan.

 

9) Georgia Receives Federal Approval for Health Coverage Tax Credit  - Blue Cross Blue Shield of Georgia Offers Four Individual Policies for Eligible Georgians -- ATLANTA, Oct. 30 /PRNewswire/ -- Governor Sonny Perdue, Georgia Insurance Commissioner John Oxendine, Georgia Labor Commissioner Michael Thurmond, and Blue Cross Blue Shield of Georgia (BCBSGa) announced today that Georgia has received approval from the federal government to enhance the Health Coverage Tax Credit (HCTC) program.

 

10) Nationally Recognized Life Insurance Industry Experts Announce Formation of HessMorganHouse, LLC   - New Consulting Firm Provides Advice and Support Services Regarding Specialized Applications of Life Insurance -- PRINCETON, N.J., Oct. 31 /PRNewswire/ -- Three of the nation's leading life insurance industry experts, Jim Hess, Charlie Morgan and Aimee Viola (formerly Aimee House), announced today the formation earlier this year of HessMorganHouse, LLC. All three executives are principals of the firm.

 

11) ADVISEN REVEALS LEADING INDICATORS FOR HOSPITAL PROFESSIONAL LIABILITY CLAIMS IN NEW STUDY  - Joint Study with Zurich?s Healthcare Team Provides Important Insight For Risk Managers and Underwriters -- New York, Oct. 25, 2006 ? Advisen Ltd., the leading provider of analytics, benchmarking and market information to the global commercial insurance industry, today announced the results of the first phase of its recent hospital professional liability claims study done in cooperation with the healthcare team at Zurich, an insurance-based financial services provider. 

 

12) LIMRA?s 2006 Annual Meeting Puts Focus on Baby Boomers? Retirement - WINDSOR, Conn.--(BUSINESS WIRE)--LIMRA President and CEO Bob Kerzner today urged leaders of life insurance and financial companies to make necessary investments in consumer education, distribution, training and technology to ensure long-term growth and prosperity.

 

13) Is Anybody Listening? Humana Announces Doubling of Profits From Medicare Part D as Seniors in Doughnut Hole Pay Full Drug Prices  - WASHINGTON, Oct. 30 /PRNewswire/ -- While many seniors are stuck in the middle of the doughnut hole without Medicare drug coverage, paying their monthly premiums and 100% of the cost of drugs, Humana announces its profits more than doubled from its Medicare Part D plans

 

14) CIGNA HealthCare to Launch HealthePass(SM) to Assist Patients in Paying for Health Care -- New Solution to Leverage American Express Healthcare Payment Capabilities -- BLOOMFIELD, Conn., Oct. 31, 2006 /PRNewswire-FirstCall/ -- CIGNA HealthCare today announced HealthePass(SM), a comprehensive new solution designed to simplify and improve payment processes to help patients anticipate and manage their health care costs, shorten provider revenue cycle and help address patient bad debt.

 

15) Gotbaum and Stringer Call on Albany to Act on Catastrophe Preparedness - NEW YORK, Oct. 31 /PRNewswire/ -- New York City Public Advocate Betsy Gotbaum and Manhattan Borough President Scott Stringer joined with former Federal Emergency Management Director James Lee Witt in calling upon state leaders to take steps to better prepare and protect New Yorkers from the financial impact of a natural catastrophe.

 

16) XL Capital Ltd Launches Final Component Of China Insurance Leadership Program   - HAMILTON, Bermuda, Oct. 30 /PRNewswire-FirstCall/ -- XL Capital Ltd (NYSE: XL) ("XL" or "the Company") today announced the launch of the final module of an executive training and development program for China insurance regulators and executives.

 

17) The PMI Group, Inc. Enters Into a New Five-Year $400 Million Revolving Credit Facility Agreement   - WALNUT CREEK, Calif., Oct. 30 /PRNewswire-FirstCall/ -- The PMI Group, Inc. (NYSE: PMI) announced today that on October 24, 2006 it entered into a new five-year $400 million revolving credit facility with Bank of America, N.A. and a consortium of lenders. Bank of America, N.A. is the acting Administrative Agent with Citibank, N.A., Sun Trust Bank N.A. and Wachovia Bank, National Association acting as Co-Syndication Agents. William Street Commitment Corporation, JPMorgan Chase Bank, N.A. and The Bank of New York are also members of the lenders' group.

 

18) NationsHealth Expands Insurance Services Division  - SUNRISE, Fla.--(BUSINESS WIRE)--NationsHealth, Inc. (Nasdaq: NHRX; NHRXW; NHRXU) today announced an agreement to provide member education and enrollment services to Health Net, Inc. (NYSE: HNT) in support of their nationwide Medicare Part D prescription drug plans for 2007. Health Net currently serves over 290,000 Part D members and will offer expanded Medicare PDP stand-alone coverage in all 50 states beginning in January 2007, up from 10 states in 2006.

 

19) UniCare Launches Full Circle Health  - Comprehensive suite of programs and services designed to help guide members through the health care system, improve their health and lower medical costs --CHICAGO, Oct. 31 /PRNewswire/ -- UniCare has unveiled one of the most all- inclusive benefits programs in the health care industry to address health promotion and wellness, case management and care coordination.    

 

20) INSURANCE NEWSCAST ?Pictures Of The Day?

 

21) ACS Adds U.S. Bank as Custodial Choice for HSA Partners and Clients  - MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bank announced today that its U.S. Bank Health Savings Account (HSA) Solution will be offered by Affiliated Computer Services, Inc. (NYSE:ACS) as an additional custodian option as part of the ACS HSA SolutionTM product.

 

22) ACE USA to Provide Environmental Liability Insurance for Massachusetts Redevelopment Brownfields Program  - PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, today announced that it has been selected to participate in the Massachusetts Brownfields Redevelopment Access to Capital (MassBRAC) program, which provides innovative strategies to encourage the cleanup and redevelopment of brownfields properties.

 

23) Mutual Fund Firms Do Admirable Job of Providing Investors with Online Transaction Capabilities, Says New Report from Corporate Insight  - NEW YORK--(BUSINESS WIRE)--As investors continue to become more self-sufficient, the ability to perform transactions online has become one of the most important functions of mutual fund Websites. In a newly released report, Corporate Insight, the leader in providing competitive intelligence, analysis, and consulting services to the financial services industry, takes an in-depth look at resources available to investors looking to initiate transactions directly from a mutual fund firm?s Website.

 

24) Care Improvement Plus Launches Texas' First Health Plan for Chronically Ill Medicare Beneficiaries   - - 580,000 Texans Qualify for New Disease Management Focused Plan -SAN ANTONIO, Oct. 30 /PRNewswire/ -- More than half a million Medicare beneficiaries in Texas are eligible to join Care Improvement Plus, Texas' first health plan to focus exclusively on chronically ill Medicare beneficiaries and their unique healthcare needs.

 

25) News From USW: Innovative Trust Fund Makes Payment to 40,000 USW Retirees and Spouses  - PITTSBURGH--(BUSINESS WIRE)--News From USW: More than 40,000 United Steelworker retirees and spouses who lost health care coverage in the bankruptcies of four steel companies are getting financial help with their Medicare Part B premiums from an innovative trust fund bargained by the USW to assist them.

 

26) Survey Shows Rising Healthcare Costs Hurting Household Savings - Video Available - Tuesday October 31, 9:01 am ET  - DES MOINES, Iowa, Oct. 31 /PRNewswire/ -- Americans struggling with rising health care costs say these increases cut into personal savings and impact household finances according to the results of the 2006 Health Confidence Survey (HCS) released today by the Employee Benefit Research Institute and Mathew Greenwald and Associates, Inc. The study was underwritten by the Principal Financial Group®.

 

27) Resolution Health to Assess Quality of Care for Nation?s Largest Physician Profiling Initiative, Sponsored by Care Focused Purchasing, Inc. - COLUMBIA, MD, October 31, 2006 ? Resolution Health Inc. (RHI), a leading provider of health care data analysis and targeted member and physician messaging services, has been selected to assess the quality of care provided by individual physicians and physician groups in the largest private or public clinical performance measurement initiative in the nation, sponsored by Care Focused Purchasing, Inc. (CFP).  

 

28) SunGard?s iWORKS Goes Live at the Principal Financial Group - Miami, FL ? SunGard (http://www.sungard.com) today announced that the Principal Financial Group has gone live with SunGard?s iWORKS COMPASS (http://www.sungard.com/iWORKS), a group and individual insurance, pension and investment product administration system. 

 

29) True Group LTC Insight - November 2006, Milliman - A number of variations on benefit design of a long-term care (LTC) contract exist, each with its own unique set of characteristics targeting a particular need for coverage. Let us focus on a single sample design and discuss key features that are worth considering. Consider the following LTC policy contract:

 

30) France's Scor obtains reinsurance licence in China - PARIS, Oct 30 (Reuters) - French reinsurer Scor (SCOR.PA: Quote, Profile, Research) has obtained a reinsurance licence in China that will enable it to open a branch in Beijing focussing on property and casualty reinsurance transactions, the company said on Monday.

 

 

 

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