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Subject: INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 11/29/06
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INSURANCE NEWSCAST can be read online at www.insurancebroadcasting.com INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 11/29/06 Here is a quick look at the stories that will be in Wednesday's INSURANCE NEWSCAST.
1) Warren Buffett discloses more after SEC request - By Jonathan Stempel - NEW YORK, Nov 27 (Reuters) - Warren Buffett's Berkshire Hathaway Inc. (BRKa.N: Quote, Profile, Research) (BRKb.N: Quote, Profile, Research) was asked by the U.S. Securities and Exchange Commission to do a better job disclosing the risks in its businesses, and appears to have satisfied the agency's concerns.
2) Fed's Bernanke: inflation to slow, risks to upside - Tue Nov 28, 2006 12:53pm ET - WASHINGTON (Reuters) - The U.S. economy is poised to expand at a moderate rate and "uncomfortably high" core inflation should slow, but inflation risks are "primarily to the upside," Federal Reserve Chairman Ben Bernanke said on Tuesday.
3) Wall Street's private regulators say to merge - Tue Nov 28, 2006 11:48am ET By Kevin Drawbaugh - WASHINGTON (Reuters) - Wall Street's two main private regulatory arms said on Tuesday they have agreed to merge in a widely anticipated move aimed at reducing industry costs and streamlining oversight functions.
4) Gaia scientist Lovelock predicts planetary wipeout - Tue Nov 28, 2006 10:12am ET By Jeremy Lovell -- LONDON (Reuters) - The earth has a fever that could boost temperatures by 8 degrees Celsius making large parts of the surface uninhabitable and threatening billions of peoples' lives, a controversial climate scientist said on Tuesday.
5) Conning Research: A Quiet Revolution in Property-Casualty Claims Management - - New Real-Time Measurement and Process Controls Create Competitive Advantage -- HARTFORD, Conn., Nov. 28 /PRNewswire/ -- Claims effectiveness is fast becoming a differentiating competitive feature among property-casualty companies as new measurement and process controls change the way claims are quantified, according to a new study by Conning Research & Consulting, Inc.
6) Aon Consulting Research Brief Shows Consumer Directed Health Model Can Motivate Improved Lifestyle Habits and Lower Spending - CHICAGO, Nov. 28 /PRNewswire-FirstCall/ -- Aon Consulting, the human capital consulting organization of Aon Corporation (NYSE: AOC), today released a research brief confirming the long-term positive impact of consumer-directed health (CDH) care.
7) TowerGroup Identifies Top Trends Impacting the Insurance Industry in 2007 - THREE MAJOR STRATEGIC SHIFTS TO DRIVE GLOBAL FINANCIAL SERVICES INSTITUTIONS IN 2007 AND BEYOND -- New Series of TowerGroup Research Reports Identifies Top Trends Impacting Core Sectors of Global Financial Services Industry in 2007
8) RAA RELEASES 2006 NINE MONTHS REINSURANCE UNDERWRITING RESULTS - WASHINGTON, D.C. -- According to a survey of reinsurers? statutory underwriting results conducted by the Reinsurance Association of America (RAA), a group of 23 U.S. property-casualty reinsurers wrote $19.6 billion of net premiums during the nine months ended September 30, 2006.
9) BISYS® Alternative Investment Services and RiskMetricsTM Group Form Strategic Alliance to Offer Risk Reporting Tools - ROSELAND, N.J. & NEW YORK--(BUSINESS WIRE)--BISYS Alternative Investment Services, a leading global provider of administrative, accounting and tax services for the hedge fund and private equity industry, and RiskMetrics Group, the leading financial risk management firm, today announced a partnership to provide comprehensive risk reporting tools that will help hedge fund managers identify, measure and manage risk for their alternative investment portfolios.
10) Not All Producers in the Voluntary Market Are the Same According to a Study by Eastbridge Consulting Group - AVON, Conn.--(BUSINESS WIRE)--The voluntary market is served by at least eight different segments of producers. That was just one of the findings in a recent study by Eastbridge Consulting Group.
11) RiskMeter Announces Top Ten Hail Prone Cities - Boston, MA, November 2006 - CDS Business Mapping, LLC a leader in online hazard mapping, today announced its list of the top ten hail prone metro areas. This list is based on the RiskMeter Online?s Hail Model, which predicts the severity of hail storms for any location in the Continental United States. According to a new report just released by the RiskMeter Online, the following top ten hail prone metro-cities are as follows:
12) State Fund Files an Average 9% Premium Decrease - Filing Marks Seventh Consecutive Decrease; Cumulative 49% Decrease Since 2004 -- SAN FRANCISCO, Nov. 27 /PRNewswire/ -- State Compensation Insurance Fund filed 2007 workers' compensation insurance rates calling for a 9% average decrease in collectible premium. The new rates will affect new and renewal workers' compensation policies with an effective date on or after January 1, 2007. The filing is State Fund's seventh consecutive rate reduction.
13) AIG Healthcare Introduces Security & Privacy Liability Insurance with Crisis Management Coverage - NEW YORK--(BUSINESS WIRE)--AIG Healthcare, a division of the property and casualty subsidiaries of American International Group, Inc. (AIG), today introduced AIG Healthcare Security & Liability Insurance, a portfolio of coverages designed to protect healthcare companies from liabilities and costs related to the negligent handling of private data. In addition to coverage for third-party liability, the new Security & Liability Insurance will respond to specified costs of crisis management when a security breach occurs, including costs to notify consumers of a data breach as required by law, costs to provide credit monitoring, and other related services for consumers affected by a data breach.
14) The Hedge Fund Association Taps Maloy Risk Services and InsureHiTech to Provide Specialty Insurance Programs for Their Membership - NEW YORK, Nov. 28 /PRNewswire/ -- Maloy Risk Services, a specialty insurance brokerage for Hedge Funds, Private Equity, Technology and Life Sciences companies, reached a definitive agreement to provide a suite of insurance products to the membership of the Hedge Fund Association (HFA). The program includes Directors and Officers Liability, Professional Liability, Employment Practices, Fiduciary Liability, Crime as well as the general insurance lines Property, Casualty and Worker's Compensation.
15) JHA Announces Program for 14th Annual Dynamics of Disability Seminar - PORTLAND, Maine, Nov. 28 /PRNewswire/ -- JHA is pleased to announce its 14th Annual Dynamics of Disability Seminar program has been finalized and is available for review online at http://www.jhaweb.com.
16) MIB Life Index Reports North American Life Insurance Activity Down 4.1% in October - WESTWOOD, Mass., Nov. 27 /PRNewswire/ -- North American application activity for individually underwritten life insurance declined -4.1% in October year-over-year, the eighth straight month where 2006 activity was below that of 2005, according to the MIB Life Index(SM). Year-to-date (YTD), U.S. and Canadian application activity is off -3.2%, compared to the same ten months in 2005.
17) National Health Partners Growth Continues to Accelerate Through Agreements with New Business Partners - Company Enters into Agreements with Several New Marketing Companies That Will Be Targeting the Hispanic Marketplace -- HORSHAM, Pa.--(BUSINESS WIRE)--National Health Partners, Inc. (OTCBB: NHPR), a leading provider of unique discount healthcare membership programs, announced today that it has entered into agreements with several new business partners through which the company will continue targeting the Hispanic marketplace.
18) Lexington Insurance Company Introduces Risk and Claim Management Services Suite for Managed Care Organizations - Complimentary Services Provided in Conjunction with the Law Offices of Steven M. Ziegler -- NEW YORK--(BUSINESS WIRE)--Lexington Insurance Company, a member company of American International Group, Inc. (AIG), and a leading provider of healthcare professional liability insurance, today announced that it has teamed up with the Law Offices of Steven M. Ziegler, P.A., a nationally recognized law firm with managed care industry expertise, to offer a comprehensive suite of risk and claim management services for managed care organizations.
19) Prudential Annuities Announces Next Innovation in Guaranteed Protection Optional Benefits - Highest Daily Lifetime Five offers lifetime income based on highest daily protected value -- NEWARK, N.J.--(BUSINESS WIRE)--Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. (NYSE: PRU) announced today it has launched Highest Daily Lifetime Fivesm, a variable annuity optional living benefit that guarantees, subject to the program rules, a five percent income stream every year for life based on five percent annual compounded growth on the highest daily protected value.
20) INSURANCE NEWSCAST ?Pictures Of the Day?
21) Fall Art Season Breaks Records; Experts Warn of Escalating Risk for the ?Under Appraised? - NOVATO, Calif.--(BUSINESS WIRE)--With record-breaking prices marking the recent wave of contemporary, modern and Impressionist art auctions, insurance and art appraisal experts stress the importance for art collectors to have their works re-appraised.
22) Deal Flow, VC Interest in Midwest Health Care Ventures Increasing, Survey Shows Medical Devices Key Focus of Interest; Minneapolis, Cleveland and Pittsburgh Rated as Top Regions - CLEVELAND--(BUSINESS WIRE)--The Midwest continues to grow in reputation as a source of quality health care investment deals, according to the results of BioEnterprise?s second annual survey of national health care venture capital firms. The survey collects venture firms? perspectives on the environment for Midwest health care start-ups and sources of Midwest investment opportunities.
23) GE Healthcare to Provide Infrastructure for Vermont Health Information Exchange - GE teams with Orion Health to Provide Key Disease Management Technology to Help Physicians Improve Their Quality of Care -- BARRINGTON, ILL. & MONTPELIER, Vt.--(BUSINESS WIRE)--GE Healthcare, a division of General Electric Company (NYSE: GE), announced today that it has been selected by Vermont Information Technology Leaders (VITL) to provide the health information technology infrastructure for a state-wide health information organization (RHIO).
24) Blue Cross and Blue Shield of Minnesota Expands Relationship With Kryptiq - Largest Health Plan in Minnesota Extends Contract Management Platform for Network Optimization -- PORTLAND, Ore.--(BUSINESS WIRE)--Kryptiq Corporation, the leader in health plan-exclusive Contract and Network Management Solutions, announced today that Blue Cross and Blue Shield of Minnesota (Blue Cross) has purchased Publisher, a workflow module that is part of the Kryptiq Guardian Suite. Publisher automates workflows and enables critical information, such as contract and rates changes, to be instantly communicated to associated departments, including claims and member services. Blue Cross plans to use Publisher to expand the Guardian Contract Manager platform to other departments within its organization.
25) Blue Cross and Blue Shield of Florida Selects Health Dialog to Provide Continued Care Management Services - Health Plan Cites Expertise, Innovation, and Integration as Key Decision Factors -- BOSTON--(BUSINESS WIRE)--Health Dialog Services Corporation today announced it has been selected again by Blue Cross and Blue Shield of Florida (BCBSF) to provide whole person care management services to BCBSF members. Under the new three-year agreement, all of BCBSF?s two million commercially insured members will have access to telephonic Health Coaching and related support across a broad spectrum of healthcare needs.
26) Aetna Signs Statement in Support of Federal Government Focus on Transparency in Health Care - Aetna is first health plan to commit to the ?Four Cornerstones of Value-driven Health Care? recently released by the Department of Health and Human Services -- HARTFORD, Conn.--(BUSINESS WIRE)--Aetna (NYSE:AET) announced today that it is the first health plan, and one of the first Fortune 100 employers in the country, to sign the ?Statement of Support for the Four Cornerstones of Value-driven Health Care? recently released by the Department of Health and Human Services (HHS).
27) Lexington Insurance Company Introduces Risk and Claim Management Services Suite for Managed Care Organizations - Complimentary Services Provided in Conjunction with the Law Offices of Steven M. Ziegler -- NEW YORK--(BUSINESS WIRE)--Lexington Insurance Company, a member company of American International Group, Inc. (AIG), and a leading provider of healthcare professional liability insurance, today announced that it has teamed up with the Law Offices of Steven M. Ziegler, P.A., a nationally recognized law firm with managed care industry expertise, to offer a comprehensive suite of risk and claim management services for managed care organizations.
28) North Star Mutual Insurance Joins the Fight Against America?s Fastest Growing Crime - Offering Policyholders Added Value and Security -- COTTONWOOD, Minn.--(BUSINESS WIRE)--Today North Star Mutual Insurance Company announced a new partnership with Identity Theft 911, the country?s leading provider of identity theft education and resolution services. Identity theft has become prevalent in today?s society, and North Star Mutual policyholders and their families will now receive cutting-edge proactive resources and, in the event that they become victims, expert assistance in restoring their identity.
29) Western-Southern Life Assurance Company Welcomed As Member Of The FHLBank Cincinnati - CINCINNATI ? The Western-Southern Life Assurance Company (Western-Southern) has been approved for membership at the Federal Home Loan Bank of Cincinnati (FHLBank). Rated Superior by A.M. Best Co., Western-Southern is the 10th insurance company to join the FHLBank and is among more than 125 insurance companies in the 12-district FHLBank System. Western-Southern is a subsidiary of Western & Southern Financial Group® (Western & Southern), a Fortune 500 company with assets owned and under management in excess of $40 billion.
30) Assurex Global Announces Partnership With First Insurance Funding - COLUMBUS, Ohio, USA (28 November 2006)? Assurex Global, the world?s largest privately owned insurance brokerage, recently announced a new preferred partner relationship with First Insurance Funding, a major premium-finance firm, following an RFP process that involved numerous contenders.
31) EPAM to expand its service delivery capabilities in Business Performance Management and Business Intelligence software under the new "Hyperion Affiliate Consulting Partner" status - Lawrenceville, NJ - November 27, 2006 - EPAM Systems, Inc. (http://www.epam.com), a leading global software services company, independently recognized as the #1 IT outsourcing provider in Central and Eastern Europe, has been included in the Hyperion Global Partner Program and awarded the "Hyperion Affiliate Consulting Partner" status by Hyperion Solutions Corporation (NASDAQ: HYSL), the global leader in Business Performance Management software.
32) MIB Solutions' Claims Activity Index Potentially Saves Life Insurance Carriers Millions by Helping to Prevent Claims Fraud - WESTWOOD, Mass., Nov. 28 /PRNewswire/ -- MIB Solutions, Inc. presented a seminar on its Claims Activity Index (CAI), the first industry-wide database to help prevent life insurance claims fraud, to the delegates of the 97th annual meeting of the International Claim Association in Seattle last month.
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