INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 12/06/06

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

INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 12/06/06  

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

 

1) A.M. Best Launches 15 Insurance Stock Indexes - OLDWICK, N.J., Dec. 1, 2006?A.M. Best Co. has released 15 stock indexes covering publicly traded companies in sectors of the U.S. and global insurance industry. Companies in the indexes include insurance carriers with interactive ratings from A.M. Best, along with insurance brokers.

 

2) RMS Publishes Assessment of Future Flood Risk in New Orleans - Stakeholders Urged to Consider Analysis of Future Risk Factors as Crucial for City Redevelopment  -- NEWARK, Calif., Dec. 4 /PRNewswire/ -- Risk Management Solutions (RMS) today released an extensive report on the future flood risk faced by the city of New Orleans due to hurricane storm surges. The report, Flood Risk in New Orleans: Implications for Future Management and Insurability,  outlines the ongoing threat of flood risk due to future hurricane storm surges and considers the role of insurance, the planning process, and the government in providing physical and economic protection so those living and investing in the city can have confidence that the risk is being effectively managed.

 

3) Enterprise Risk Management Critical for Insurers Globally, but Regional Approaches Vary, According to Tillinghast Study Risk Reporting to Boards and Senior Management More Common - STAMFORD, Conn.--(BUSINESS WIRE)--Driven in part by increased demands from regulatory and rating agencies, enterprise risk management (ERM) has become integral to insurers? business processes around the world. Sixty percent of survey respondents explicitly factor risk management considerations into their decision-making, according to the fourth biennial survey of risk and capital management practices among insurers worldwide by the Tillinghast business of Towers Perrin.

 

4) New AllianceBernstein Research Shows Majority of Eligible Employees Avoid Actively Managing Their 401(k) Plan - Study Shows Americans Only Occasionally Monitor Critical Savings Vehicle; Some Plan Participants Never Review Retirement Account Information

 

5) America?s Health RankingsTM Gives Nation Its Annual Check-up - Americans? Overall Health Improves Slightly from Last Year, but Rate of Improvement Has Leveled off since 2000;  Minnesota, Vermont and New Hampshire Remain Nation?s Healthiest States; Louisiana and Mississippi Rank as Least-Healthy States;

 

6) A.M. Best Special Report: Blues Plans Grow and Strengthen - OLDWICK, N.J.--(BUSINESS WIRE)--Blue Cross Blue Shield companies continued to produce favorable earnings for the first six months of 2006. While overall earnings remained positive, the largest growth in underwriting and net income was reported by the for profit, public companies. These companies reported an average underwriting gain of $133.9 million and net income of $109.2 million for the first six months of 2006, which represents a growth rate of 26.8% for underwriting and 30.6% for net income, according to a special report from A.M. Best Co.

 

7) A.M. Best Special Report: Pools and Trusts Show Continued Upswing in Performance - OLDWICK, N.J.--(BUSINESS WIRE)--Rated self-insurance pools and trusts in 2005 saw a significant change in operating performance compared with 2004. The operating results for 2005 were characterized by a precipitous decrease in the loss and loss adjustment expense ratio, which was offset partially by an increase in the underwriting expense ratio. The net result of these changes was a 4.3-point drop in the combined ratio after policyholder dividends, according to a new special report from A.M. Best Co.

 

8) Third Annual Farmers Insurance Study Ranks Most Secure U.S. Places To live - St. George, Utah, Rated No. 1  -- LOS ANGELES, Dec. 4 /PRNewswire/ -- When it comes to choosing a place to live, work or raise a family, safety and security are two characteristics that many people would find appealing. According to the  Third Annual Most Secure U.S. Places to Live rankings from Farmers Insurance Group of Companies(R), the most secure location to live in the United States is St. George, Utah.

 

9) Gainesville, Florida Underwriter is Tops in the Sports Insurance Business - GAINESVILLE, Fla., Dec. 5 /PRNewswire/ -- Salaries in the sports world continue to grow, and the effects of injury are more devastating than ever.  That's where a pioneer in the industry comes in to save the day.

 

10) Travelers Expands Commercial Auto Coverage Market - HARTFORD, Conn., December 5, 2006 ? Travelers today announced the availability of commercial auto coverage for small to mid-sized businesses on a monoline basis through its Select Accounts, Commercial Accounts and Construction divisions. This expanded monoline auto program provides a high-liability commercial auto policy on a stand-alone basis even when the supporting lines of coverage do not qualify.

 

11) Meritain Health Acquires CBSA PERFORMAX - Acquisition Creates Nation?s Largest Privately Held Manager of Health Benefits Plans  -- Amherst, NY, December 5, 2006 ? Meritain Health, Inc., a leading provider of health plan management services and a division of health care services company Prodigy Health Group, has announced the acquisition of CBSA PERFORMAX.  The acquisition doubles the size of Meritain Health, creating the nation?s largest privately held manager of health benefits plans.  Financial terms of the transaction were not disclosed.

 

12) Invitation to the Towers Perrin 2006 Hurricane Post-Season Webinar - 2006 spared Florida, New Orleans and other hot hurricane spots from more pain.  Why?  A shift in atmospheric pressure over the Atlantic, a new El Niño climate pattern, cooler tropical waters in the North Atlantic and warmer-than-normal waters in the South combined to minimize the likelihood of storms making landfall.

 

13) ACE Approved to Establish Life Insurance Operation in Russia - NEW YORK--(BUSINESS WIRE)--The ACE Group of Companies announced today that it has received approval from the Federal Service for Insurance Supervision (FSIS) to underwrite life insurance in the Russian Federation.

 

14) Johnson & Strachan Insurance, The Morrow Group Merge - Northern Virginia Insurance Agencies Reunited

FAIRFAX, Va.--(BUSINESS WIRE)--Johnson & Strachan Inc., a full-service commercial and personal insurance agency, announced today it has acquired The Morrow Group, an independent insurance agency specializing in group health and employee benefits.

 

15) Direct General Corporation Enters into Merger Agreement with Private Equity Group - Direct Shareholders to Receive $21.25 Per Share in an All-Cash Transaction  -- NASHVILLE, Tenn.--(BUSINESS WIRE)--Direct General Corporation (?Direct General?) (NasdaqGS: DRCT) announced today that it has entered into a definitive merger agreement with Elara Holdings, Inc. ("Elara"), an affiliate of Fremont Partners (?Fremont?) and Texas Pacific Group ("TPG"), under which Elara will acquire Direct General. In the transaction, Direct General?s shareholders will receive $21.25 in cash for each share of Direct General common stock they hold, a 28.71% premium to the closing price of $16.51 on December 4, 2006. The total value of the transaction, including debt, is approximately $628.2 million.

 

16) Meritain Health Acquires CBSA PERFORMAX - Acquisition Creates Nation's Largest Privately Held Manager of Health Benefits Plans  -- AMHERST, N.Y., Dec. 5 /PRNewswire/ -- Meritain Health, Inc., a leading provider of health plan management services and a division of health care services company Prodigy Health Group, has announced the acquisition of CBSA PERFORMAX. The acquisition doubles the size of Meritain Health,  creating the nation's largest privately held manager of health benefits plans. Financial terms of the transaction were not disclosed.

 

17) EIG Mutual Holding Company Files Registration Statement With SEC - RENO, Nev., Dec. 4 /PRNewswire/ -- EIG Mutual Holding Company today announced that it has filed a registration statement with the Securities and Exchange Commission (SEC) in connection with its proposed initial public offering of shares of its common stock. The Company proposes to undertake this offering concurrently with its conversion from a mutual insurance holding company to a stock corporation in accordance with the Plan of Conversion adopted by the Company's Board of Directors on August 17, 2006 and amended and restated on October 3, 2006.

 

18) CompBenefits Corporation Announces Proposed Initial Public Offering of Common Stock - ATLANTA, Dec. 4 /PRNewswire/ -- CompBenefits Corporation announced today that it has filed a registration statement with the Securities and Exchange Commission relating to the proposed initial public offering of its common stock. All shares in the offering will be sold by CompBenefits.     

 

19) Republic Companies Group, Inc. Stockholders Approve Acquisition By Delek Capital Ltd. - NEW YORK, Dec. 4 /PRNewswire-FirstCall/ -- Republic Companies Group, Inc. (Nasdaq: RUTX) ("Republic") announced that its stockholders have voted to adopt the previously-announced merger agreement providing for the merger of Republic and a wholly-owned subsidiary of Delek Capital Ltd. ("Delek Capital"), which is a majority-owned subsidiary of Delek Group Ltd. ("Delek"), at Republic's special meeting of stockholders held today in New York City. Further, all governmental and regulatory consents and approvals, the receipt of which is a condition precedent to the consummation of the merger, have been obtained.

 

20) INSURANCE NEWSCAST ?Pictures Of The Day?

 

21) UMB Asset Management Launches ?Choosing a Financial Advisor? Podcast - Audio Broadcast Available on iTunes, umb.com -- KANSAS CITY, Mo.--(BUSINESS WIRE)--UMB Asset Management, a division of UMB Financial Corporation (NASDAQ: UMBF), continues to use the popular ?new media? channel by launching its sixth podcast, available live on Apple?s iTunes and umb.com. UMB is one of the first financial institutions in the country to use this technology to educate and communicate with current and prospective customers.

 

22) Fix Medicare Part D: Put Patients First, Profits Last - Congress Could Eliminate Doughnut Hole by Collecting Drug Discounts Instead of Allowing Pharmacy Benefit Managers to Pocket the Discount Dollars  -- WASHINGTON, Dec. 5 /PRNewswire/ -- Democrats' control of Congress offers fresh hope Medicare Part D will be transformed into a real benefit for patients rather than a cash cow hand out to pharmacy benefit managers (PBMs). The Association of Community Pharmacists Congressional Network (ACP*CN) supports the Democratic leadership's interest in giving the  government the ability to negotiate drug prices under Medicare Part D but Congress can't stop there. Congress must eliminate the "middle man" role PBMs play in Medicare, which allows them to profit from drug manufacturer discounts, as seniors free fall into the doughnut hole.

 

23) First Notice Systems Integrates StrikeIron Web Services for Insurance Claims - Leveraging Web Service across Multiple Touch Points Decreases Cycle Time from First Notice of Loss to Settlement for Property and Casualty Carriers  -- RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--StrikeIron Inc., provider of the Web Services Marketplace, today announced that First Notice Systems, Inc., the industry leader in claim reporting solutions for the insurance industry, has integrated StrikeIron?s Address Verification Web Service into First Notice?s product and service offerings.

 

24) SoundBite Communications Solidifies Leadership Position within Automated Voice Messaging Market - Company Demonstrates Significant Momentum through Market Expansion, Increased Customer Adoption, Expanded Infrastructure and Industry Recognition  -- BURLINGTON, Mass.--(BUSINESS WIRE)--SoundBite Communications Inc., a leading provider of hosted, automated customer contact solutions, today announced a series of milestones that have established the company as a leader in the rapidly growing automated voice messaging (AVM) market.

 

25) Don't Put Your Auto Insurance on Auto-Pilot  - Insurance Commissioners Offer Tips for Updating Coverage, Saving Money  -- KANSAS CITY, Mo., Dec. 5 /PRNewswire/ -- Smart motorists rely on seatbelts and airbags as the first line of protection in the event of a car  accident. Another important safeguard -- especially for financial security -- is understanding and purchasing appropriate automobile insurance coverage. That's one reason the National Association of Insurance Commissioners (NAIC) has created its consumer Web site, InsureUonline.org.    

 

26) Independence Blue Cross Wins Disease Management Association of America Award for Innovative Programs That Help People Stay Healthy - IBC Connections(SM) Health Management Programs Recognized for Excellence  -- PHILADELPHIA, Dec. 4 /PRNewswire/ -- The Disease Management Association of America (DMAA) has awarded Independence Blue Cross (IBC) the 2006 Disease Management Leadership Award for Outstanding Health Plan, in recognition of the company's Connections(SM) Health Management Programs that help members with chronic and other conditions better manage their health. Esther Nash, MD, Senior Medical Director, Population Health and Wellness at IBC, will accept the award today at the DMAA's 7th annual Disease Management Leadership Forum in Denver, Colorado.

 

27) Blue Cross and Blue Shield of Florida Selects Benefitfocus - CHARLESTON, S.C., Dec. 5 /PRNewswire/ -- Benefitfocus, a leader in health care technology, has signed a contract with Blue Cross and Blue Shield of Florida (BCBSF) to support its group business with eEnrollment capabilities. To enhance BCBSF's advantage in the burgeoning small group market, Benefitfocus will begin providing automated enrollment and plan configuration tools to its small and large group members in 2007. The initial deployment of the enrollment automation software will be for small groups of two to 50 employees.

 

28) Premera Blue Cross Scales Stellent Universal Content Management Across Enterprise - Health benefits company improves productivity and customer service, reduces costs, and maintains HIPAA compliance using 13 Stellent-powered Web sites and business applications

 

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