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Subject: INSURANCE NEWSCAST "Headlines Only Edition" for: Thursday, 11/02/06
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INSURANCE NEWSCAST can be read online at www.insurancebroadcasting.com INSURANCE NEWSCAST "Headlines Only Edition" for: Thursday, 11/02/06 Here is a quick look at the stories that will be in Thursday's INSURANCE NEWSCAST.
1) UnumProvident Reaches Settlement Agreement on Broker Compensation with New York Attorney General - Company adopts new compensation program, broader disclosure policies --CHATTANOOGA, Tenn., Nov. 1, 2006 ? UnumProvident Corporation (NYSE:UNM) today announced it has reached a settlement agreement with the Attorney General of the State of New York that directly resolves all issues raised by the Attorney General?s office in its review of the company?s broker compensation practices. The review was part of a larger investigation of broker compensation practices in the insurance industry.
2) ?Preparing for Pandemic Flu: A Call to Action? Released by Blue Ribbon Commission on Mega-Catastrophes - Report urges acceleration of preparations -- The Financial Services Roundtable?s Blue Ribbon Commission on Mega-Catastrophes today released its interim report entitled ?Preparing for Pandemic Flu: A Call to Action.? The report provides a global view of the risk of a deadly pandemic flu, and prescribes a series of recommendations to accelerate preparations and mitigate impacts of such a large-scale medical crisis, should it occur. This study is part of the Commission?s larger overall study that addresses the public and private sector issues arising as a result of mega-catastrophes.
3) Zurich unit's ex-CFO banned over Berkshire pact - By Jonathan Stempel - NEW YORK, Nov 1 (Reuters) - A former chief financial officer of Zurich Financial Services AG's (ZURN.VX: Quote, Profile, Research) Australian unit was banned Wednesday by that country's regulators for using reinsurance with a unit of Warren Buffett's Berkshire Hathaway Inc. (BRKa.N: Quote, Profile, Research) (BRKb.N: Quote, Profile, Research) to inflate profit.
4) Marsh & McLennan earnings more than double - Wed Nov 1, 2006 8:23am ET - NEW YORK (Reuters) - Marsh & McLennan Cos. Inc. (MMC.N: Quote, Profile, Research), the world's largest insurance broker by revenue, said on Wednesday third quarter earnings more than doubled, beating estimates, helped by cost-cutting efforts.
5) Jules Kroll denies report he is buying back security unit - NEW YORK, Oct 30 (Reuters) - A spokeswoman for Jules Kroll, founder of the international security company that bears his name, said he denies any interest in buying back his unit from Marsh & McLennan Cos. Inc. (MMC.N: Quote, Profile, Research), which now owns Kroll.
6) Insurance Marketing & Advertising Podcast Interviews Ann Glover of The Hartford; Final Speaker Lineup Set - OLDWICK, N.J., Oct. 31, 2006?The latest edition of ?The Insurance Marketing and Advertising Podcast? explores marketing to financial professionals with Ann Glover, head of communications for The Hartford Financial Services Group.
7) AlwaysCare Benefits, a Starmount Life Insurance company, to Provide Dental Benefits for City of Baton Rouge Employees in 2007 - Baton Rouge, LA, October 31, 2006 ? AlwaysCare Benefits, a Starmount Life Insurance company, has recently been awarded the contract to offer dental benefits to the employees and retirees of the City of Baton Rouge and East Baton Rouge Parish.
8) Best?s Review: European Life Insurers Capitalize on U.S. Acquisitions - OLDWICK, N.J.--(BUSINESS WIRE)--From the 1980s through the early 2000s large European life insurers came to the United States to purchase established U.S. life companies and stake their claim on the burgeoning baby-boomer retirement-products market. Despite difficulties with some of their purchases, most of these latter-day explorers are now enjoying the scale and market penetration they set out to achieve, the November issue of Best?s Review reports.
9) WebCE?s Online Insurance Continuing Education Courses Now Available to Wisconsin Agents - New Regulatory Changes Will Save Wisconsin Insurance Professionals Time and Money -- DALLAS--(BUSINESS WIRE)--WebCE, a nationwide provider of web-based continuing education services to the financial services industry, today announced the immediate availability of its state-approved courses to Wisconsin?s 25,000 licensed insurance professionals.
10) Hot Wheels: Do You Know Where Your Car Is? - Every 25.5 Seconds a Vehicle is Stolen in the U.S. - DES PLAINES, Ill., Nov. 1 /PRNewswire/ -- Hot Wheels, the National Insurance Crime Bureau's companion study to its annual Hot Spots auto theft report examines data reported to the National Crime Information Center (NCIC) and determines the vehicle make, model, and model year most reported stolen in 2005. See the full report at http://www.nicb.org.
11) BB&T Insurance Services to acquire Florida agency - RALEIGH, N.C., Nov. 1 /PRNewswire-FirstCall/ -- BB&T Insurance Services, the nation's seventh largest insurance broker, today said it plans to expand its Florida operation with the acquisition of Wyman, Green & Blalock Inc. of Bradenton.
12) More Employees Will See Consumer-Directed Options This Fall, But Enthusiasm Has Cooled Among Employers, Study Finds - WASHINGTON, Oct. 31 /PRNewswire/ -- The once-explosive growth of consumer- directed health (CDH) plans has cooled, but will remain strong during this fall's open-enrollment period, according to a new national survey of employee benefits consultants conducted by Inside Consumer-Directed Care (ICDC) newsletter and the International Society of Certified Employee Benefit Specialists (ISCEBS).
13) PRIME HEALTH SERVICES SETS STRATEGIC ALLIANCE WITH MEDRISK?S EXPERT PHYSICAL MEDICINE PROVIDER NETWORK - Goal is reduced medical costs with high quality of care -- Nashville, TN. (Nov. 1, 2006) ? Prime Health Services (Prime Health), a National Preferred Provider Organization (PPO), has announced a strategic alliance with MedRisk, Inc. The agreement enables Prime Health?s customers to access MedRisk?s Expert Provider Organization (EPO) of workers? compensation physical medicine specialists.
14) Mitchell Study Identifies High Variance in Labor Rates by State, County, and Metro Area - SAN DIEGO, CA -- October 31, 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 highlights from a labor rate study conducted by its Business Analytics Group are available in the latest edition of Mitchell's quarterly Industry Trends Report, which may be downloaded for free at www.mitchell.com.
15) FergTech Software Revolutionizes Workers? Compensation Posting Notices - New software and compliance service streamlines Posting Notice issuance for Insurers -- Darien, CT ? October 31, 2006 ? FergTech, Inc. today announced the launch of PostingNotice.com?, a Web application that enables insurance professionals and businesses to quickly and easily produce state-required Workers? Compensation ?Notice to Employees? posters (?Posting Notices?). PostingNotice.com is the first comprehensive Web-based software service for creating compliant, on-demand, and data-complete Posting Notices.
16) NAIC NOW ACCEPTING APPLICANTS FOR 2007 CONSUMER LIAISON REPRESENTATIVES - KANSAS CITY, MO (Oct. 31, 2006) ? The National Association of Insurance Commissioners (NAIC) is accepting applications for the 2007 Consumer Liaison Program. -- Established in 1992, the Consumer Liaison Program promotes consumer representation and interaction with NAIC members by providing funding to qualified consumer representatives for participation in NAIC meetings. In order to qualify for funding, a candidate shall:
17) NAIC WELCOMES INTERNATIONAL INTERNS - Representatives from Five Countries Attend International Internship Program -- KANSAS CITY, Mo. (Oct. 31, 2006) ? The National Association of Insurance Commissioners (NAIC) welcomed 10 interns from Brazil, the British Virgin Islands, China, Korea and Russia to its International Internship Program for Education and Regulatory Cooperation today at the NAIC Executive Headquarters.
18) Principal Financial Group Expands Dental Insurance Options - Regional partners to bring new dental benefit designs to customers --DES MOINES, Iowa--(BUSINESS WIRE)--The Principal Financial Group®, the nation?s premier provider of employee benefits, announces a new agreement with SafeGuard Health Plans, Inc. bringing optional dental health maintenance organization (DHMO) coverage to customers in California, Florida and Texas. Through SafeGuard, customers and potential customers of The Principal® are now able to offer a DHMO plan alongside preferred provider organization (PPO) coverage.
19) New Lower Cost Health Insurance Now Available to North Carolina Individuals and Families from Golden Rule - Budget-conscious health plans include health savings accounts and special Saver options -- INDIANAPOLIS, Ind.--(BUSINESS WIRE)--UnitedHealthcare?s Golden Rule Insurance Company, a leader in the individual health insurance market for 60 years, announced today that it will begin offering a wide range of affordable health plan choices in North Carolina for individuals and families not covered by employer plans.
20) INSURANCE NEWSCAST ?Pictures Of The Day?
21) The Principal Financial Group Unveils New Tools to Help Navigate Pension Protection Act - New Guides and Web Site for Financial Professionals and Plan Sponsors -- DES MOINES, Iowa--(BUSINESS WIRE)--It represents some of the most sweeping changes to the retirement savings landscape since the passage of the landmark Employee Retirement Income Security Act (ERISA) in 1974. But at nearly 1000 pages long, financial professionals and plan sponsors are looking for help in understanding how the new Pension Protection Act impacts them.
22) Aetna Reaches Agreement with WellSpan Health - KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--Aetna (NYSE: AET) announced today that it has reached agreement with WellSpan Health on a three-year contract, adding WellSpan?s two hospitals and affiliated physicians to the company?s Central Pennsylvania network.
23) Prime Health Services Sets Strategic Alliance with MedRisk?s Expert Physical Medicine Provider Network - Goal is Reduced Medical Costs with High Quality of Care -- NASHVILLE, Tenn.--(BUSINESS WIRE)--Prime Health Services (Prime Health), a National Preferred Provider Organization (PPO), has announced a strategic alliance with MedRisk, Inc. The agreement enables Prime Health?s customers to access MedRisk?s Expert Provider Organization (EPO) of workers? compensation physical medicine specialists.
24) Centene Notified of Action by Kansas State Court - Second Petition Remains Pending - ST. LOUIS--(BUSINESS WIRE)--Centene Corporation (NYSE: CNC) today announced that it has received notification from the Shawnee County District Court, which dismissed a FirstGuard Health Plan Kansas, Inc. (FirstGuard) petition regarding the selection of new Medicaid providers. On August 25th, the Kansas Health Policy Authority notified FirstGuard, a wholly owned subsidiary of Centene, that its contract would end December 31, 2006.
25) Fireman?s Fund® Makes Dividend Payment for Workers? Compensation Insurance to California Pharmacists Association - NOVATO, Calif.--(BUSINESS WIRE)--Fireman's Fund Insurance Company announced today that due to the success of the workers? compensation insurance program with the California Pharmacists Association (CPhA) a $1,427,754 dividend will be paid out to insured members.
26) Farmers Insurance Group Announces Dedication of The University of Farmers Campus in Agoura Hills, California - LOS ANGELES--(BUSINESS WIRE)--The much anticipated Farmers Insurance Group?s new 120,000 square foot agent, claims, leadership and management training facility - The University of Farmers - will be officially dedicated at a ribbon cutting ceremony to be held at 10:45 a.m., November 3, 2006 at 30801 Agoura Hills Road, Agoura Hills, California.
27) Health Insurers Targeting Growth in All Markets - KENNEBUNK, Maine--(BUSINESS WIRE)--Health insurers are selectively targeting growth in all segments of the industry, according to Mark Farrah Associates (MFA). Commercial plans, focused on consumer-driven opportunities, are offering expanded HSA and HRA options for the private insurance market. Medicare program participants are rolling out flexible benefits while implementing consumer-driven features for Medicare Advantage and PDP offerings. Insurers are also refining Medicaid products to meet cost containment requirements and pursuing the uninsured market with both commercial and government products.
28) Philadelphia Insurance Companies Introduces Employed Lawyers Professional Liability Insurance - BALA CYNWYD, Pa., Nov. 1 /PRNewswire-FirstCall/ -- Philadelphia Insurance Companies (Nasdaq: PHLY) is proud to introduce their newest product - Employed Lawyers Protection Plus(SM). This product is designed to protect all attorneys working as In-House Counsel, their support staff and eligible independent contractors from claims arising out of their provision of legal professional services to the insured, including moonlighting and pro bono services.
29) squaremouth inc. Launches Visitors, Students and Immigration Insurance - ST. PETE BEACH, Fla., Nov. 1 /PRNewswire/ -- squaremouth inc. (http://www.squaremouth.com) today launches Visitors Insurance (http://www.squaremouth.com/visitors-insurance), the latest in a long line of feature additions to the travel insurance site which now also allows visitors, immigrants, international students, US Visa applicants and Visa holders to compare every medical insurance product, research insurance plans, purchase and receive instant printable confirmation -- all from one simple interface.
30) Great-West Lifeco's U.S. subsidiary announces agreement to acquire Indiana hospital and physician network - Transaction will add approximately 75,000 members Readers are referred to the disclaimer regarding Forward-Looking Information at the end of this release. TSX:GWO
31) WellPoint Introduces First Medicare Medical Savings Account - First-of-Its-Kind Consumer-Directed Health Plan Empowers Seniors and Provides Increased Flexibility to Manage Health Care Spending -- INDIANAPOLIS, Oct. 31 /PRNewswire-FirstCall/ -- WellPoint, Inc. (NYSE: WLP), the nation's largest health benefits company, announced today that it will introduce an innovative new Medicare Medical Savings Account (MSA), marking the first time an MSA plan will be available in the Medicare market. Consumers can enroll in this industry-leading plan beginning November 15, 2006 in conjunction with the Medicare open enrollment period. MSA plans will initially be offered in a number of states across the country.
33) GHI Selected to Offer Dental Program for Federal Employees - Paid-In-Full Benefits for Covered In-Network Services -- NEW YORK, Oct. 31 /PRNewswire/ -- Group Health Incorporated (GHI) will be offering enrollment in its dental benefits program to federal government employees as of December 31, 2006. As the result of a competitive bid process, GHI was chosen by the United States Office of Personnel Management (OPM) to offer its dental program to federal employees, retirees, and their dependents through the Federal Employees Dental and Vision Insurance Plan (FEDVIP).
34) Versata Integrated Insurance & Brokerage Suites Cut Costs, Process Changes 5 Times Faster With Out-of-Box Functions - Agile Industry-Specific Business Rules Platform Delivers Low Deployment Costs -- AUSTIN, Texas, Oct. 31 /PRNewswire/ -- Versata announced today the integration and expansion of its industry-leading application suites for Insurance and Brokerage companies -- boosting speed of changes up to five times, creating out-of-the-box, industry-specific functionality, and cutting deployment and operating costs by half.
35) Nov. 2 Forum Addresses Emergency Care Issues in Michigan Hospitals - Emergency care experts gather to tackle industry concerns in event sponsored by Blue Cross Blue Shield of Michigan and Blue Care Network -- DETROIT, Oct. 31 /PRNewswire/ -- Exploring new approaches to emergency room use is the aim of a Blue Cross Blue Shield of Michigan and Blue Care Network "Emergency Care Forum" set for Thursday, Nov. 2 at the Blues' Lyon Meadows Conference Center, 53200 Grand River Ave. in New Hudson, which is accessible via the I-96 Wixom Road exit. Registration begins at 8:30 a.m. in the conference center auditorium. Presentations and group discussions run from 9 a.m. to noon, followed by lunch and continued discussion.
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