INSURANCE NEWSCAST "Headlines Only Edition" for: Friday, 11/03/06

[acinatech@yahoo.com]

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

INSURANCE NEWSCAST "Headlines Only Edition" for: Friday, 11/03/06  

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

 

1) Changes in Global Health Insurance Market Pose Opportunity and Risk for U.S. Insurers, Projects PricewaterhouseCoopers Report - Trends to Drive Insurance Industry Consolidation, Increased Regulation and Risk Sharing -- New York, November 1, 2006 ? Rising public sector health expenditures are prompting governments around the world to increase the role of private insurers, creating both opportunity and risks for U.S. insurers with interests in international markets, according to a new report issued today by PricewaterhouseCoopers LLP.  The report entitled ?Healthy Choices:  The Changing Role of Health Insurers,? explores the dynamics of the global health insurance market and the impact of trends on insurers? business models.

 

2) TowerGroup: Life Insurance Carriers Struggle to Automate Underwriting Process - LIFE INSURANCE CARRIERS STRUGGLE WITH AUTOMATING THE UNDERWRITING PROCESS -- Study of Industry Executives by TowerGroup Examines Business, Technology Initiatives Relative to Life Insurance Underwriting

 

3) Willis Marketplace Realities 2007 ?Adaptation, Innovation and the Insurance Marketplace?  - Perspectives and Strategies for 15 Major Market and Industry Segments  -- NEW YORK--(BUSINESS WIRE)--In today?s edition of Marketplace Realities and Risk Management Solutions 2007, Willis Group Holdings provides incisive overviews that examine current conditions, near-term expectations and risk management strategies for a broad spectrum of marketplace and industry segments, including Property, Directors & Officers, Environmental, Construction, Healthcare, Financial Institutions and many others. The publication can be downloaded at http://www.willis.com/Extras/Marketplace%20Realities.aspx.

 

4) Metropolitan Life Becomes First Insurance Company to Join FHLBNY - NEW YORK, Nov. 1 /PRNewswire/ -- Metropolitan Life Insurance Company ("MetLife") has been approved for membership at the Federal Home Loan Bank of New York ("FHLBNY").  Metropolitan Life Insurance Company is the first life insurance company to become a member of the FHLBNY, a regional wholesale bank. The FHLBNY advances housing opportunity and local community development by maximizing the capacity of its member-lenders to serve their markets.

 

5) Updated Best?s Review ® Industry Guide Focuses on How Insurers Earn and Spend Money - OLDWICK, N.J., Nov. 1, 2006?A.M. Best Co. has just released the updated edition of The Best?s Review Guide to Understanding the Insurance Industry, now included as a free gift with every subscription to the print edition of Best?s Review magazine. All current subscribers will receive the Guide packaged with the November issue of the magazine, and new print subscribers will be mailed a copy as well, while supplies last.

 

6) Best?s Review: European Life Insurers Capitalize on U.S. Acquisitions - OLDWICK, N.J., Nov. 1, 2006?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.

 

7) UnumProvident Resolves Broker Compensation Litigation with California - CHATTANOOGA, Tenn., (Nov. 1, 2006) ? UnumProvident Corporation (NYSE:UNM) today announced it has resolved litigation filed by the California Department of Insurance against UnumProvident and other insurers regarding disclosure practices in broker compensation.

 

8) Iinsurance Commissioner John Garamendi Announces Landmark Settlement with UnumProvident to End Practice of Paying Undisclosed Commissions for Employee Benefit Group Insurance - Iinsurance Commissioner John Garamendi Announces Landmark Settlement with UnumProvident to End Practice of Paying Undisclosed Commissions for Employee Benefit Group Insurance The Stipulation, Waiver and Order (the ?Settlement?) calls for full disclosure of all commissions and other compensation in connection with group life, accidental death and dismemberment, long and short term disability, health (including long-term care) and/or related group insurance coverage.

 

9) UnumProvident Corporation Announces Inaugural Securitization - First Industry-wide Securitization of Long-term Income Protection Claim Reserves -- CHATTANOOGA, Tenn. (Nov. 1, 2006) ? UnumProvident Corporation (NYSE: UNM), announced today the completion of its first securitization transaction. The Company, through its subsidiary Tailwind Holdings, LLC, a newly formed Delaware limited liability company, issued $130 million of senior, secured notes in a private placement.  The notes are guaranteed by MBIA Insurance Company with respect to both interest and principal repayment

 

10) Nationwide in talks over mutual fund business - Wed Nov 1, 2006 6:10pm ET - NEW YORK, Nov 1 (Reuters) - Nationwide Financial Services, Inc. (NFS.N: Quote, Profile, Research) and Nationwide Mutual Insurance Co. said on Wednesday they have begun preliminary discussions about a possible transaction relating to Nationwide Mutual's asset management business.

 

11) 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.

 

12) Zalma's Insurance Fraud Letter, November 1, 2006 - Culver City CA, November 1, 2006 - Free Insurance Fraud Newsletter -- Insurance fraud has been estimated to take from the insurance buying public between $87 billion and $200 billion every year.

 

13) Johnny Bench, Robert Orr Presentations Highlight Brooke National Franchise Convention - OVERLAND PARK, Kan., Nov. 1 /PRNewswire-FirstCall/ -- Brooke Corporation (Nasdaq: BXXX) recently wrapped up activities at its second national franchise convention, held Oct. 22-24 at the South Point Casino and Hotel in Las Vegas. Nearly 1,000 Brooke franchisees, employees, directors and stockholders from across the country were on hand to participate in the three-day event.

 

14) SPEAKER FABIAN NÚÑEZ JOINS PUBLIC AND PRIVATE HEALTH EXPERTS TO DISCUSS SOLUTIONS TO CALIFORNIA?S HEALTH CARE CRISIS - State Insurance Commissioner Candidate Steve Poizner, Lieutenant Governor Candidate Tom McClintock and State Senator George Runner Also Offer Insight About Health Care Reform at 10th Annual Health Care Symposium

 

15) CATASTROPHES, RISK TRANSFER AMONG TOPICS TO BE DISCUSSED AT CAS ANNUAL MEETING, - NOVEMBER 12-15 IN SAN FRANCISCO - ARLINGTON, VA ? The catastrophe insurance market and accounting for risk transfer will be featured topics during the Annual Meeting of the Casualty Actuarial Society (CAS), November 12-15, 2006 at the Hyatt Regency in San Francisco, CA.

 

16) MarketScout Approved as Lloyd?s Coverholder - DALLAS, November 1, 2006 ? MarketScout, the Dallas, Texas based eInsurance Exchange, has been approved as a Lloyd's Coverholder. The approval process requires an extensive examination of the candidate?s underwriting capabilities, processes, systems and procedures. As an approved Lloyd?s Coverholder, MarketScout is vested with binding and claims payment authority on facilities it places in the Lloyd?s market. According to Richard Kerr, Founder and CEO of MarketScout, ?We are proud to have a direct relationship with Lloyd?s underwriters. Our plan is to continue to expand the MarketScout Exchange by offering our agents access to more underwriting facilities on which we have binding authority.?

 

17) Life Settlement Firm Announces its Full-Disclosure Initiative. - Lancaster, PA -- November 1, 2006 -- Milestone Providers, a Pennsylvania-based life settlement provider, has announced the launch of its Full-Disclosure Initiative for life settlement transactions.  The decision to launch the initiative comes after discussions with several of Milestone?s institutional investors.  ?Our approach has always been the same - open and transparent transactions.  With recent developments in our industry, we have decided to initiate Milestone?s Full-Disclosure Requirements, and make full disclosure standard operating procedure for every transaction? stated Kristian Armstrong, CEO of Milestone. 

 

18) NAIC PROPOSED 2007 BUDGET ADVANCES AFTER PUBLIC HEARING  - Public Comments Reviewed by NAIC Internal Administration Subcommittee  -- KANSAS CITY, Mo. (Nov. 1, 2006) ? The Internal Administration (EX1) Subcommittee of the National Association of Insurance Commissioners (NAIC) held a public hearing today on its proposed 2007 budget. In a meeting following the hearing, the Subcommittee advanced the proposed budget, which now awaits approval from the NAIC?s full membership during its Winter National Meeting Dec. 9-12 in San Antonio.

 

19) New Profit-Boosting Tool for Companies - Long Term Care Educational Program, from Atlanta-based Agency, Could Add Millions to Bottom Lines - Atlanta, GA, October 31 - A new tool called the LTC Outreach and Education Program? (LTCOEP?) promises to help human resource managers change their departments from cost centers to profit centers.

 

20) INSURANCE NEWSCAST ?Pictures Of The Day?

 

21) DeltaCare USA Offered to California?s Costco Executive Members - Low Cost, Custom Dental Benefit Program Available on the Web -- SAN FRANCISCO--(BUSINESS WIRE)--Delta Dental of California affiliate PMI Dental Health Plan announced a new partnership today with Costco Wholesale Corporation to make affordable voluntary dental benefits available to Costco?s California-based Executive members.

 

22) Leading West Coast Health System Taps Premier Inc. as Quality Improvement Partner - Premier?s Clinical Advisor to Support Providence Health & Services? Industry-Leading Quality Goals; 28-Hospital Agreement Exceeds $11 Million -- CHARLOTTE, N.C.--(BUSINESS WIRE)--Providence Health & Services, a 28-hospital system based in Seattle, WA, has signed a five-year, $11 million agreement with the Premier Inc. healthcare alliance to use Premier?s Clinical Advisor for quality measurement, benchmarking and regulatory reporting.

 

23) Farmers Insurance Group of Companies Announces Hybrid Vehicle Discount in Ohio - Farmers Is First in Offering Hybrid Insurance Discount in the U.S. -- COLUMBUS, Ohio--(BUSINESS WIRE)--The Farmers Insurance Group of Companies announces a 10% discount for customers who own a hybrid or alternative fuel vehicle.

 

24) Insurance Commissioner Hopeful Steve Poizner Outlines California Health Agenda  - ORANGE, Calif.--(BUSINESS WIRE)--Steve Poizner, Republican candidate for California Insurance Commissioner, outlined his position on the state?s healthcare insurance issues in an exclusive interview with the editor of the John & Rusty Report, a California health insurance industry weekly e-newsletter.

 

25) INAMAR Recreational Marine Insurance Strikes Strategic Alliance with Provider of Satellite Safety and Security Communications  - Offers Boat Owners Premium Discount with Activated SeaKey® Systems -- PHILADELPHIA--(BUSINESS WIRE)--INAMAR® Recreational Marine Insurance, the nation?s oldest marine insurance provider, has announced a strategic alliance with SeaKey, LLC, a leader in satellite safety and security communications, whereby boat owners with activated SeaKey® systems installed on their boats can receive up to a 10 percent discount on marine insurance.

 

26) Collins Introduces New Corporate Identity, Web Site 'To Reflect Fast-Paced, Dynamic Company'   - MINNEAPOLIS, Nov. 2 /PRNewswire/ -- Collins, the fast-growing U.S. reinsurance broker, has revamped its corporate branding and launched an entirely new web site, "to reflect more accurately the attributes and qualities of this dynamic company," Collins President and Chief Executive Officer Pat Denzer announced.

 

27) Governor Rendell Signs Historic 'Cover All Kids' Legislation   - Pennsylvania Becomes One of Six States to Offer Health Care Access to All Uninsured Children -- PITTSBURGH, Nov. 2 /PRNewswire/ -- Governor Edward G. Rendell today signed into law his Cover All Kids initiative, making Pennsylvania one of six states to make sure that every child has health care coverage.

 

28) The Life Settlement Institute Reaffirmed Its Pro-Consumer and Pro-Competition Efforts   - WASHINGTON, Nov. 2 /PRNewswire/ -- The Life Settlement Institute (LSI), the leading organization representing secondary market providers for life insurance, reaffirmed today its pro-consumer and pro-competition efforts to regulate life settlements.

 

29) Corrupt Government Officials Assist Insurers to Wrongfully Deny Patients Life- Saving Treatments in Wisconsin, According to Fight-Corruption.com  - OSHKOSH, Wis., Nov. 2 /PRNewswire/ -- Fight-Corruption.com has learned that a series of complaints are being prepared by patients and patient advocates against several high-ranking state government officials in the Doyle administration who assisted several major insurers in the wrongful denial of life-saving treatments to patients. The first of these complaints against the administration's Chief Medical Officer, Dr. Richard Carr, accuses him of assisting several insurance companies in wrongfully denying life-saving treatments, illegally removing incriminating document(s) from patient files, and trying to cover up his actions with fraudulent documents.

 

30) The Standard Introduces the Next Generation of Executive Benefits for Key Employees, The Protector+(SM)  - PORTLAND, Ore., Nov. 2 /PRNewswire/ -- Standard Insurance Company ("The Standard"), a subsidiary of StanCorp Financial Group, Inc. (NYSE: SFG) announces The Protector+, the next step in the evolution of Disability Insurance products for key employees.

 

31) UBA Announces New Comprehensive Wellness and Disease Management Program   - INDIANAPOLIS, Nov. 1 /PRNewswire/ -- United Benefit Advisors (UBA), (http://benefits.com ), an alliance of 140 of the nation's premier independent benefit advisory firms, today announced the roll-out of UBAWellnessWorks, a comprehensive wellness and disease management program available to employers of all sizes.

 

32) Gunther International Establishes Gunther Advisory Council - Executives from Major Organizations Help Gunther Increase Value to Customers -- Norwich, Connecticut, November 1, 2006 ? Gunther International Inc. (OTC Pink Sheets: SORT), a leading provider of technology and production mail equipment to the insurance and financial services industries, announced the launch of its Gunther Advisory Council (GAC), a dynamic group of senior management from a variety of market-leading financial services, document and mailing enterprises. The Council is a working body of customers established to provide guidance to Gunther?s leadership and engineering teams regarding the company?s strategic plans, products and services.

 

 

 

 

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