INSURANCE NEWSCAST "Headlines Only Edition" for: Monday, 11/13/06

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INSURANCE NEWSCAST "Headlines Only Edition" for: Monday, 11/13/06  

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

 

1) Hartford units to settle with US SEC for $55 mln - WASHINGTON, Nov 8 (Reuters) - Three units of Hartford Financial Services Group Inc. (HIG.N: Quote, Profile, Research), the fourth-largest U.S. insurer by assets, agreed to pay $55 million to settle directed brokerage charges, the U.S. Securities and Exchange Commission said on Wednesday.

 

2) Nationwide Mutual settles lawsuit for $19.25 mln - Fri Nov 10, 2006 12:35pm ET By Jonathan Stempel  -- NEW YORK, Nov 10 (Reuters) - Nationwide Mutual Insurance Co. said on Friday it will pay $19.25 million to settle a lawsuit accusing it of failing to tell customers it would charge higher auto insurance premiums.

 

3) Aetna Faces National Boycott Over Slavery; Photo Available - WASHINGTON, Nov. 9 /U.S. Newswire/ -- Aetna Insurance Company is faced with a national boycott of its health insurance products as a result of their writing life insurance policies on the lives of enslaved Africans in the 1850's. Boycott organizers are demanding that Aetna settle a consolidated class action lawsuit by creating a Trust Fund to benefit descendants of enslaved Africans.

 

4) Scottish Re posts loss; sale deal possible in weeks - NEW YORK, Nov 9 (Reuters) - Reinsurer Scottish Re Group Ltd (SCT.N: Quote, Profile, Research) posted a quarterly loss and said it still planned to agree a sale of all or part of the company through a deal that could be struck within weeks.

 

5) Scor 9-month profit surges, snubs Scottish Re bid - By Sudip Kar-Gupta -- PARIS, Nov 8 (Reuters) - French reinsurer Scor (SCOR.PA: Quote, Profile, Research) reported an 87-percent rise in nine month net profit that beat market forecasts and said it had decided against bidding for U.S. reinsurer Scottish Re (SCT.N: Quote, Profile, Research).

 

6) AIG: limited policy exposure to backdating scandal - NEW YORK, Nov 10 (Reuters) - American International Group Ltd., which insures directors and officers of companies against lawsuits, will likely have to make only limited payouts linked to the options backdating scandals, the company's chief executive said on Friday.

 

7) Health Care Likely To Be High Priority For Democrats - Veteran of Washington politics available to comment on what?s ahead in the new Congress  -- FALLS CHURCH, VA ? November 10, 2006 ? With Democrats regaining control of Congress, a Washington expert with the National Association of Insurance and Financial Advisors (NAIFA) says health care and financial security are likely to top the domestic agenda of the new Congress.

 

8) Stoll Stoll Berne Lokting & Shlachter Announces Settlement of Class Action Lawsuit Against Nationwide Insurance  - Oregon Federal Court Approves $19.25 Million Class Action Settlement between Policyholders and Nationwide Insurance

 

9) Gravely & Pearson, LLP Alleges Widespread Allstate Abuse for Hundreds of San Antonio Area Policyholders   - SAN ANTONIO, Nov. 9 /PRNewswire/ -- Gravely & Pearson, LLP filed two lawsuits today against Allstate Texas Lloyds, a subsidiary of Allstate Insurance Company, alleging widespread claims abuse in Texas by the insurance company. "Over 400 policyholders in San Antonio have been affected by Allstate's conduct," said Matthew R. Pearson, counsel for the plaintiffs.

 

10) William F. Reilly and Wind Point Partners Acquire Pfingsten Publishing and Highline Media, TO FORM SUMMIT BUSINESS MEDIA - New York, NY, November 9, 2006 ? William F. Reilly and Wind Point Partners, a private equity firm, announced today the formation of Summit Business Media, which simultaneously acquired Pfingsten Publishing and Highline Media.  Mr. Reilly will be Chairman and CEO of Summit.

 

11) Voluntary Benefits Forum Meeting Date Announced - New Hope, PA, November 13, 2007?Valerie Cyr, President of the Voluntary Benefits Forum (VBF) has announced that the organization?s next meeting will take place January 11, 2007. The meeting is being hosted by Security Mutual of New York and will be held in their board room, 44th floor (room 4401), Empire State Building, New York City.

 

12) Norvax Releases Definitive Guide To Help Insurance Agents Avoid Biggest Problems With Purchasing And Using Technology - CHICAGO, IL ? November 5, 2006 ? Insurance agents who are thinking about purchasing insurance technology to speed up and simplify their sales now have an authoritative guide to help them navigate the minefield of complicated, unreliable and overpriced products.

 

13) CONSUMERS PERCEIVE STRONG LINK BETWEEN ORAL AND MEDICAL HEALTH; MORE THAN ONE-THIRD SUSTAIN LONG-TERM RELATIONSHIPS WITH THEIR DENTIST, METLIFE STUDY SHOWS - -- Children?s Oral Health Is Priority; Parents Nearly 30% More Likely to Seek Regular Care for Children Than Themselves --

 

14) Crawford & Company Acquires e-Triage® - Technology company provides solutions for workers? compensation and disability claims management  -- 11/10/06 - ATLANTA ? Crawford & Company has purchased e-Triage, an international technology company whose products Crawford has been using in Claims Advantage, its workers? compensation claims-handling  program. E-Triage?s Web-based services apply evidence-based international research to identify specific risk factors and recommend interventions to positively impact return-to-work (RTW).

 

15) AIA LAUDS U.S. TRADE NEGOTIATORS FOR REACHING WTO AGREEMENT WITH RUSSIA - WASHINGTON, D.C., Nov. 10, 2006? The American Insurance Association (AIA) commends the U.S. Trade Representative (USTR) for reaching an important agreement in principle that would bring Russia into the World Trade Organization (WTO) and help open this critical market to insurers.

 

16) New CPA Firm Launched to Serve Property and Casualty Insurance Companies - Madison, WI ?Kollath & Associates CPA LLC, is pleased to announce the launch of a new accounting practice which will provide assurance, tax and consulting services for property and casualty insurance companies. 

 

17) Assurant to buy back up to $600 mln stock - NEW YORK, Nov 10 (Reuters) - Assurant Inc. (AIZ.N: Quote, Profile, Research), a provider of specialized insurance products, on Friday said its board of directors approved the repurchase of up to $600 million of common stock.

 

18) UnitedHealthcare Introduces Affordable Health Insurance Program to Cleveland?s Uninsured Workers - CLEVELAND--(BUSINESS WIRE)--UnitedHealth Group (NYSE:UNH): New Belay program offers simple, affordable health insurance solutions -- Employed uninsured can have security and protection against catastrophic events In Ohio, 12 percent of residents do not have health insurance

 

19) ACA Capital Prices Initial Public Offering - NEW YORK--(BUSINESS WIRE)--ACA Capital Holdings, Inc. (NYSE: ACA) announced today the pricing of its initial public offering of 6,898,541 shares of its common stock at $13.00 per share. Of the shares offered, 6,875,000 were offered by ACA Capital and 23,541 were sold by selling shareholders. In addition, the underwriters have been granted a 30-day over-allotment option to purchase up to an additional 1,034,780 shares from ACA Capital.

 

20) INSURANCE NEWSCAST ?Pictures Of The Day?

 

21) Association of British Insurers Uses RMS Model as Basis for New U.K. Flood Recommendations  - New ABI Study Analyzes the Effects of Rising Sea Levels on Flood Risk In Eastern England  -- NEWARK, Calif., Nov. 9 /PRNewswire/ -- Risk Management Solutions (RMS), the world's leading provider of products and services for the management of catastrophe risk, today announced that the Association of British Insurers (ABI) has released new findings and recommendations on managing flood risk on the east coast of England, based on RMS analyses and modeling.    

 

22) Guardian Dental Survey Reveals: Most Americans Connect Oral Health to Overall Health,  - Boomers Confident They'll Have Most of their Teeth in Retirement, Gen X and Y Less Optimistic

Ms. Manners, Meet Mr. Hygiene: Men More Likely to Brush/Floss at Work, Women Find it Rude  -- NEW YORK, Nov. 9 /PRNewswire/ -- 89% of Americans make the connection that their overall health is linked to their dental hygiene according to a consumer dental survey, entitled Benefits and Behavior: Spotlight on  Dental, released today by The Guardian Life Insurance Company of America (Guardian). The study shows that Americans tend to see their dentists regularly and reveals oral health differences along gender and generational lines.

 

23) GILSBAR, INC. LAUNCHES NEW REIMBURSEMENT ACCOUNT TOOLS & MARKET LEADING DEBIT CARDS - FOR IMMEDIATE RELEASE - Covington, LA - November 10, 2006  -- Gilsbar, Inc., a leading health plan manager and insurance services provider, announces the launch of its improved administration services for flexible spending accounts (FSA), and health reimbursement accounts (HRA).  

 

24) Insurance Settlements And Negotiation - Top Lawyers Give Tips For Policy Holders In Obtaining The Proper Coverage, Interpreting Insurance Policies In The Event Of A Loss, And Effectively Claiming Coverage That Is Due - DUBLIN, Ireland--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/reports/c44907) has announced the addition of Insurance Settlements and Negotiations: Leading Lawyers on Structuring Insurance Contracts, Negotiating Policy Disputes, and Formulating Litigation Strategies to their offering.

 

25) Humana Medicare Advantage Members to Receive Brain Fitness Program at No Extra Charge - Posit Science program helps seniors achieve increased mental agility  -- LOUISVILLE, Ky.--(BUSINESS WIRE)--Humana Inc. (NYSE: HUM) today announced that, effective Jan. 1, 2007, all Humana Medicare Advantage plan and Medicare Supplement plan members will receive the Posit Science Brain Fitness Program at no additional cost ($495 suggested retail price) as a complement to their health coverage.

 

26) Humana Expands Medicare Medication Therapy Management Program by Adding National and Regional Pharmacies - Community Pharmacists Will Be Able to Help Medicare Beneficiaries Better Manage Medication Regimens, Optimize Therapeutic Outcomes  -- LOUISVILLE, Ky.--(BUSINESS WIRE)--Humana Inc. (NYSE:HUM) today announced an expansion of its Medication Therapy Management program to qualified Humana Medicare members.

 

27) John Hancock Introduces New Partnership LTC Insurance Plans in New York  - BOSTON, Nov. 9 /PRNewswire-FirstCall/ -- John Hancock Life Insurance Company today introduced five new comprehensive long term care (LTC) insurance plans in New York. Developed in collaboration with the New York State Partnership for Long Term Care office, the policies help preserve clients' assets if long term care services are needed and provide state Medicaid assistance if they qualify for and need extended care. John Hancock is offering the partnership plans in New York in addition to its newest non-Partnership policy called Leading Edge, which was introduced in early October.

 

28) Twenty-Plus New Customers Go Live on Enwisen?s On-Demand HR Communications Solutions in Just Last Two Months  - Hannaford Bros. Co., L.L.Bean, Discovery Communications and Ceridian Corp. Amongst New Customers that Went Live in September and October  -- NOVATO, CA (November 9, 2006) ? Enwisen announced today that 22 new customers went live, in just the past two months, on its AnswerSource Knowledge Center and AnswerSource Total Rewards Statement solutions ? solidly positioning the Novato, CA-based company as the industry leader in providing on-demand HR Communications solutions.  An additional 30 new customers are expected to go live on Enwisen solutions in the next 60 days.  Enwisen now has more than 250 direct customers and 2,000+ additional clients via its re-seller channels.

 

29) MASSACHUSETTS ENACTS AIA-SUPPORTED INSOLVENCY FUND REFORM -BOSTON, Nov. 9, 2006 - Gov. Mitt Romney (R) has signed insolvency fund reform legislation that will create ?a high net worth exclusion? into law, Chapter 342 of the Laws of 2006.  This legislation was supported by the American Insurance Association (AIA).  

 

30) AIA SUPPORTS MASSACHUSETTS ASSIGNED RISK PLAN - BOSTON, Nov. 10, 2006 - The assigned risk plan proposed by Massachusetts Insurance Commissioner Julianne Bowler will provide a fair and transparent system and should be implemented, the American Insurance Association (AIA) said today in testimony before the Division of Insurance.

 

31) IBA West Opposes Background Regs - SACRAMENTO, CA ? (November 9, 2006) IBA West testified in opposition to new proposed regulations that would expand the California Insurance Commissioner?s authority to deny, suspend or revoke broker-agent license applications at a hearing here on Nov. 9.

 

32) Calendar Listing: FSP Arizona Institute January 2007 - Event Name:  Arizona Institute Host Organization: Society of Financial Service Professionals (FSP) Date: January 7-11, 2007 Location:                    Omni Tucson National Golf Resort & Spa, Tucson, Arizona

 

 

 

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