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Subject: INSURANCE NEWSCAST "Headlines Only Edition" for: Friday, 12/01/06
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INSURANCE NEWSCAST can be read online at www.insurancebroadcasting.com INSURANCE NEWSCAST "Headlines Only Edition" for: Friday, 12/01/06 Here is a quick look at the stories that will be in Friday's INSURANCE NEWSCAST.
1) Hostage dramas reveal rising corporate kidnap risk - By Simon Challis, European Insurance Correspondent -- LONDON, Nov 30 (Reuters) - A recent spate of high-profile hostage sagas involving foreign workers snatched in Iraq, Afghanistan, Chechnya and Nigeria has prompted more companies to take steps to counter the growing threat of kidnapping.
2) Safeco CEO sees no widespread insurance rate cuts - Thu Nov 30, 2006 12:38pm ET - NEW YORK (Reuters) - Safeco Corp. (SAFC.O: Quote, Profile, Research) Chief Executive Paula Reynolds said on Thursday she sees no widespread rate cuts in car, home and commercial insurance business by national insurers.
3) Businesses Face Wake up Call on Environmental Liability Exposures says ACE - LONDON--(BUSINESS WIRE)--Leading insurer ACE European Group (ACE) is warning that UK businesses are exposing themselves to unnecessary environmental liability risks, simply because they continue to view specialist insurance products as too expensive and overly complicated.
4) AIG Private Client Group Enhances Its Private Collections Policy - NEW YORK--(BUSINESS WIRE)--AIG Private Client Group, a division of the personal lines property and casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced enhancements to its private collections policy to help high net worth individuals better safeguard their valuables and collections.
5) ERNST & YOUNG IAAS ANNOUNCES HIGHLIGHTS FROM ITS INSURANCE INDUSTRY RISK LEADERSHIP ROUNDTABLE ON ECONOMIC CAPITAL -- Identifies Heightened Activity but Suggests Need to Enhance Strategic Approach -- NEW YORK ? The Insurance and Actuarial Advisory Services (IAAS) practice of Ernst & Young LLP today announced highlights from its recent Economic Capital Methodology Roundtable of senior insurance executives discussing current initiatives and future plans, as well as opportunities and barriers to success. Preliminary results of a survey conducted by IAAS among insurers leading the trend to adoption were also discussed.
6) NAIC Consumer Alert - Credit Scoring - Credit Scoring - A Consumer's Credit Score May Affect Auto and Homeowners Insurance Premiums -- Insurance companies may look at your credit history when you apply for new auto or homeowners insurance, or if your current policy is up for renewal. Here is some valuable information that may help you understand how insurance companies use your credit history.
7) Ftwilliam.com announces the release of its Cash Balance Plan Document - Milwaukee, Wisconsin November 29, 2006 - ftwilliam.com, a provider of high quality plan documents and government forms software, announced today the release of their Cash Balance plan document. The Cash Balance plan document includes a full EGTRRA restatement and is fully compatible with the Pension Protection Act. It may also be used for cycle A filers who must restate their individually-drafted Cash Balance plans by January 31, 2007. The Cash Balance plan will be available on the same user friendly interface as ftwilliam.com's other retirement and welfare plan documents.
8) U.S. Bank to Sell 401(k) Business to Great-West Life & Annuity - MINNEAPOLIS--(BUSINESS WIRE)--U.S. Bank Institutional Trust & Custody announced today that it has entered into a definitive agreement to sell its bundled 401(k) defined contribution plan business to Great-West Life & Annuity whose business unit, Great-West Retirement Services, will manage the business. U.S. Bank Institutional Trust & Custody is not selling its trust, custody, defined benefit, non-qualified plan or health savings account businesses.
9) AARP Financial Survey Finds: When It Comes To Investing For Retirement, Many 50 Plus Californians Perplexed And Overwhelmed - The Golden State? Not When It Comes to Retirement Investing; 36 Percent of Those Surveyed Have Accumulated Less Than $110K
10) Highmark Health Insurance Now Accepted at Take Care Health Centers in Pittsburgh - Nearly 70 Percent of Insured Patients in Pittsburgh Are Covered at New, Walk-in Health Centers -- PITTSBURGH--(BUSINESS WIRE) --Take Care Health Systems, a leading independent operator of convenient care clinics, will begin accepting Highmark insurance at all Take Care Health Centers located in Pittsburgh-area Eckerd Pharmacies starting December 1, the company announced today.
11) Morgan Stanley Global Wealth Management Group Launches New Client Website - NEW YORK--(BUSINESS WIRE)--Morgan Stanley (NYSE:MS) announced today that it has launched an enhanced version of ClientServ (www.morganstanleyclientserv.com), the Global Wealth Management Group?s (GWMG) website for individual investors and small to mid-size businesses.
12) LifeWatch Signed Agreement With UnitedHealthcare Insurance Company - BUFFALO GROVE, Ill.--(BUSINESS WIRE)--LifeWatch Holding Corp. today announced it has signed a US national agreement with UnitedHealthcare Insurance Company, an affiliate of UnitedHealth Group (NYSE:UNH) that will provide persons insured by UnitedHealthcare in-network access to LifeWatch cardiac monitoring services and technologies.
13) Aetna Foundation Awards Grants Totaling $220,000 in Pennsylvania and Southern New Jersey - KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--The Aetna Foundation announced that it has awarded grants totaling $220,000 to seven organizations located in Eastern Pennsylvania and Southern New Jersey.
14) Aetna Foundation Awards Grants Totaling $111,000 to Three Georgia Organizations - ALPHARETTA, Ga.--(BUSINESS WIRE)--The Aetna Foundation announced that it has awarded grants totaling $111,000 to three organizations located in Georgia.
15) SunGard Announces iWORKS NAVIGATOR Based on Microsoft® .NET - MIAMI, FL ? November 30, 2006 ? SunGard (http://www.sungard.com) today announced the availability of its iWORKS NAVIGATOR Illustration system based on Microsoft® .NET. iWORKS NAVIGATOR is a comprehensive suite of solutions for life insurance and annuity sales and support. Microsoft® .NET technology provides the ability to help quickly build, deploy, manage and use connected, security-enhanced solutions with Web services.
16) Shand to Offer Occurrence GL In Combo with Allied Healthcare PL - Chicago, November 29, 2006 ? Effective immediately, Shand Morahan & Co., Inc. will offer Occurrence GL in combination with its Specified Medical (allied healthcare) Claims-Made Professional Liability coverage.
17) ICAT Establishes Syndicate at Lloyd's of London - BOULDER, Colo., Nov. 30 /PRNewswire/ -- ICAT Holdings LLC (ICAT) announced today the creation of a new underwriting syndicate at Lloyd's of London, designated as ICM Syndicate 4242, to support the company's underwriting of catastrophe-exposed properties throughout the United States. ICM Syndicate 4242 will commence underwriting business on January 1, 2007 and joins the more than 300-year-old market's existing community of 66 syndicates.
18) The Phoenix Companies, Inc. Go Live with the AdminServer Policy Administration System - J2EE version of the AdminServer System in use for Phoenix life products -- Chester, PA, November 29, 2006 ? AdminServer, Inc. announced today that The Phoenix Companies, Inc. (NYSE: PNX) is in production with the J2EE version of the AdminServer Policy Administration System for administration of the insurer?s new life products. The administration system implementation was launched in conjunction with an enterprise ESB SOA initiative.
19) RMS ANNOUNCES JOINT VENTURE WITH RMSI TO EXPAND BUSINESS PROCESS OUTSOURCING OPERATIONS - Newark, Calif. - November 30, 2006 - Risk Management Solutions (RMS), the world's leading provider of products and services for the management of catastrophe risk, today announced the expansion of the company's successful analytical and exposure data enhancement offering, currently used by more than 10 re/insurance organizations.
20) INSURANCE NEWSCAST ?Pictures Of The Day?
21) NEW YORK CITY COMPTROLLER?S AUTO INSURANCE REPORT MISSES THE MARK - NEW YORK, Nov. 29, 2006 ?The New York City Comptroller?s policy report on the cost of automobile insurance fails to justify its claims, and makes recommendations that would actually hurt New York motorists, according to the American Insurance Assocation (AIA).
22) National Advantage Insurance Services, Inc. Adds New Admitted Homeowners Market - Tustin, Calif? Clifford Mapes, president and CEO of National Advantage Insurance Services, Inc., announces that he is adding a new, admitted market for homeowner risks in California
23) FinArch Positioned in Leaders Quadrant for Magic Quadrant for Basel II software applications, 2006 - Evaluation based on adapted criteria for completeness of vision and ability to execute -- Ghent, 29 November 2006 ? Financial Architects (FinArch), international provider of a Finance Resource Planning (FRP) platform for the finance industry, today announced that it has been positioned by Gartner, Inc. in the leaders quadrant in the Magic Quadrant for Basel II software application report, 2006*.
24) SEDGWICK CMS THREE-TIME EMPLOYER OF CHOICE® DESIGNEE - Memphis, Tenn., November 28, 2006 ? Sedgwick Claims Management Services, Inc. (Sedgwick CMS) announces that it has been certified an Employer of Choice® for the third consecutive year. Designation as an Employer of Choice is awarded to public, private or not-for-profit employers that demonstrate effective implementation of best practices in attracting, developing and retaining outstanding people.
25) Duck Creek Delivers Enhanced EXAMPLE Platform With Version 2.1 - New Release Includes SOA Policy Processing, New User Administration Utility, And New Online Customer Solution Center -- BOLIVAR, MO, November 28, 2006 ? Duck Creek Technologies, Inc., a provider of software and services enabling the insurance industry to design, develop, and deliver insurance products faster than ever, today announced the immediate availability of an enhanced version of its EXAMPLE Platform®, Version 2.1, designed to support faster speed-to-market implementations. In addition, the company unveiled a new, online Customer Solutions Center portal that serves as a one-stop destination for all product documentation and customer support information needs.
26) MEDRISK RECEIVES STATE GRANT TO DELIVER TECHNOLOGY TRAINING - KING OF PRUSSIA, PA. (Nov. 28, 2006) ? The State of Pennsylvania has awarded a Workforce and Economic Development Network grant to MedRisk, Inc. -- Based in King of Prussia, Pa., MedRisk provides specialty managed care services and claims workflow management tools to the workers? compensation industry. The company is using the $6,300 grant to train 20 information technology employees on new JAVA technology that will be used to develop MedRisk products and services.
27) Student Shadows Property Pros at NAPCO® - EDISON, NJ (November 28, 2006) -- Mikund Raghu, Master?s candidate in risk management at the Peter J. Tobin School of Business at St. John?s University, gets an analyst?s view of the property insurance market using a database system during ?Shadow Day.? Working with Raghu is Ravi Singhvi, risk analyst with NAPCO®. Held recently at the company?s Edison headquarters, the day of mentoring included overviews of the wholesale distribution channel, layered risk programs, risk modeling and data software, finance, and claims.
28) PIANH to help agents meet new Insurance Department standards - CONCORD, N.H.?The New Hampshire Insurance Department recently instituted new continuing education requirements for New Hampshire licensees starting in 2007. Th+e Professional Insurance Agents of New Hampshire Inc. has scheduled numerous opportunities for licensees to fulfill the new CE requirements, which include obligatory ethics and flood continuing education requirements.
29) National Western Life Announces Agent Bonus Plan - Austin, Texas, November 22, 2006 ? National Western Life Insurance Company (Nasdaq: NWLIA) marked the official debut of its domestic agent bonus plan, HARVEST. The plan, which stands for Heaped Agent Rewards VESTed, rewards the company?s domestic agents who generate at least $1 million in annuity premium or $50,000 in life premium each paid and collected in the plan year. Qualifiers will earn a contribution for both new and in force premium that will vest over 5 years.
30) Confirm / clarify Dec 4,5,6 meetings re: Work Disability Prevention Summit - The Status Quo: Phurbis, a cook?s helper at a local restaurant, sustained a back strain at work while lifting a heavy trash bag into the dumpster. The doctor he was seeing, Dr. Fixemup, provided good medical care and advice. But when Dr. Fixemup told Phurbis he could go back to work at light duty after that first visit, Phurbis told the doc that there was no ?taking it easy? at HIS job.
31) OnBase Named an Insurance Document Handling Market Leader in New Celent Study - CLEVELAND, OH ? Hyland Software, Inc., developer of OnBase enterprise content management (ECM) software , is pleased to announce the naming of Hyland Software as an insurance market leader in a recent report published by research and advisory firm, Celent entitled ?Document Management for Insurers: Overview and Solution Spectrum.?
32) Biophysical Launches Biophysical250 Corporate Program - Wellness program monitors health of companies? top executives -- AUSTIN, Texas, November 28, 2006 (Announced from the Joint Forum on Health, Productivity & Absence Management Conference) ? The Austin, Texas-based Biophysical Corporation today launched the Biophysical250 Corporate Program as a new executive health benefit. The Biophysical250 is not only the most comprehensive health assessment available for executives, it is also the most convenient, requiring only a small blood sample taken at their home or office.
33) New Commercial Auto Appointment with Safeco for R. E. Chaix & Associates - Irvine, CA ?Timothy Chaix, president of R.E. Chaix & Associates announced that its commercial auto division has just added Safeco as a new admitted market for California agents.
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