INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 05/02/07

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INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 05/02/07

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

1) Fewer Employers Offer Health Benefits: Study - Tue May 1, 2007 9:02AM EDT - WASHINGTON (Reuters) - Fewer U.S. employers are offering health benefits, mostly because many new small employers have chosen not to pay for health insurance, the U.S. Government Accountability Office reported on Monday. - The GAO found an 8 percentage point drop in the share of small employers offering benefits from 2001 to 2006 and said many employers that offer health benefits now make workers pay a higher share of out-of-pocket costs.

2) Identity Theft 911 Releases ?Credit Repair Scam? Special Report - SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Identity Theft 911, a leading provider of identity theft resolution and educational services, released today a special report revealing the rising trend of identity fraud in which companies promise to create a new credit history for consumers by filing false documents with credit bureaus claiming the consumer fell victim to identity theft.

3) Best's Review: Tech-based Exchanges Are Changing How Insurance Agents and Carriers Transact - OLDWICK, N.J., May 1, 2007?Best's Review's cover story, "Exchange Place" reveals how B2B technology is reaching new heights by eliminating administrative frustrations faced by agents and brokers. In the United States, the Council of Insurance Agents & Brokers is supporting the creation of The National Insurance Exchange. Find out how the exchange will move submission and quote processes to a single platform, allowing agents and brokers to enter all information at once and send it to multiple carriers.

4) CPCU Society?s CPCU eJournal Explains Captive Insurance Industry?s History, Evolution, And Purpose - MALVERN, PA, MAY 1, 2007?The CPCU Society?s May CPCU eJournal, ?Captive Insurance Industry?What is it? Where is it? Why is it Important?,? attempts to explain the mysteries of the captive insurance industry in plain English, starting with the history of captive insurance, the differences between captive insurance companies and traditional insurance companies, and the future market for captive insurance.

5) Genetic Testing and Insurance - Why the Fear of "Genetic Discrimination" Does Not Justify Regulation - Gregory Conko and Neil A. Manson - April 2007 -- Executive Summary -- It is common knowledge that many diseases have a genetic basis and that the presence of more and more disease-related genetic mutations can be detected with simple tests. Unfortunately, much of the American public believes that certain diseases are completely determined by one?s genes and that a positive genetic test means doom. In turn, they fear that insurers will use information of such seemingly great predictive value to deny coverage to, or make insurance much more expensive for, those with positive genetic tests.

6) Prospecting Success Is Focus Of Industry Webcast - BRYN MAWR, PA ? April 30, 2007 ? On May 31, 2007, The American College will sponsor a live Field Management Seminar webcast, Success Through Prospecting, for financial professionals across the country. - The faculty of The American College created this two hour educational event in conjunction with field managers and executives from financial services companies. This program is open to all financial services management professionals and the webcast can be applied toward the Chartered Leadership Fellow® (CLF®) designation.

7) Employers Direct To Be Acquired By Alleghany Corporation - AGOURA HILLS, Calif.--(BUSINESS WIRE)--Alleghany Corporation (NYSE:Y) has entered into a definitive agreement with Employers Direct Corporation (?EDC?) and its shareholders, primarily Golden Gate Capital and a private equity fund managed by Swiss Re, to acquire all the outstanding shares of EDC for $195.0 million. The transaction has been approved by the Boards of Directors of Alleghany and Employers Direct and is subject to certain closing conditions, including the receipt of regulatory approvals. Upon closing, which is estimated to occur in the third quarter of 2007, Employers Direct will become an indirect wholly-owned subsidiary of Alleghany.

8) Fireman?s Fund Insurance Announces Strategic Alliance with National Equipment Register - NOVATO, Calif.--(BUSINESS WIRE)--The Specialty Insurance segment of Fireman?s Fund Insurance Company today announced the addition of the National Equipment Register (NER) as one of its strategic alliances. National Equipment Register, a searchable national database of heavy equipment that helps authorities track down stolen equipment, has aligned with Fireman?s Fund® to offer discounted rates on products to help mitigate the increasing risk of equipment theft.

9) Online Banking Report Publishes ?Mobile Money & Payments: Why Credit & Debit Card Issuers Should Embrace Mobile Delivery Now? - SEATTLE--(BUSINESS WIRE)--Mobile banking and payments are looming on the horizon, with U.S. market penetration of 10% expected within four years according to a new report from Online Banking Report. With major players such as Citibank, Bank of America and Wachovia launching mobile initiatives this year, ubiquitous mobile access promises to have a huge impact on the banking and payments industry. By communicating with customers in real-time via mobile devices, card issuers will be able to ratchet up fraud protection and customer service several notches, while simultaneously reducing costs for issuers and merchants.

10) New Report from Corporate Insight Examines Mutual Fund Firms? Online Small Business Retirement Offerings - NEW YORK--(BUSINESS WIRE) --The importance of having a proper retirement benefits plan for a small business cannot be understated and the quality of a plan can be the deciding factor in recruiting or retaining valuable employees. Many small business owners turn to mutual fund companies to manage their companies? retirement plans including 401(k)s, SIMPLE IRAs, 403(b)s for non-profit organizations or profit sharing retirement accounts. Considering the sizeable sum of contributions that can accumulate in a small business retirement fund, it is vital that fund companies provide these customers with at least the same level of online support and guidance made available to an individual investor.

11) XTF Advisors to Provide Target Maturity ETF Portfolios for Pacific Life Insurance Variable Universal Life Insurance Products - NEW YORK--(BUSINESS WIRE)--XTF, an asset manager specializing in strategic and tactical asset allocation portfolios composed of exchange traded funds (ETFs), announced today that it is partnering with Pacific Life Insurance Company to provide Target Date ETF Portfolios. XTF?s portfolios will allow Pacific Life?s variable universal life insurance policy owners to take advantage of the steady growth and tactical management that XTF?s products provide.

12) Nationwide Financial Completes Acquisition of NWD Investment Management - COLUMBUS, Ohio--(BUSINESS WIRE)--Nationwide Financial Services, Inc. (NYSE:NFS) today announced that it has completed the acquisition of the Philadelphia-based retail operations of NWD Investment Management (formerly Gartmore Global Investments, Inc.) from Nationwide Corporation, a subsidiary of Nationwide Mutual Insurance Company. Starting today, the Gartmore Funds will be known as the Nationwide Funds to better align with the Nationwide brand.

13) A.M. Best to Feature Best?s Directory of Recommended Insurance Adjusters at NAIIA Conference - OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. will exhibit at booth # 21 at the National Association of Independent Insurance Adjusters annual conference, set for May 9-13 at the Marriott Horseshoe Bay Resort in Horseshoe Bay (Austin), Texas.

14) A.M. Best Initiates Public Comment Period on Draft Health-Care Systems Methodology - OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. is initiating for 30 days a period for comments from market participants in the health-care system and health insurance industries and other interested parties on a draft for its ?Evaluating Health-Care Systems? methodology. The draft document is currently available on the Methodology section of A.M. Best?s homepage. Visit www.ambest.com/ratings/methodology.asp to download a PDF copy.

15) Travelers Launches OSHA Recordkeeping for Industry-Leading Risk Management Information System - HARTFORD, Conn.--(BUSINESS WIRE)--Travelers (NYSE:TRV) today announced that it will introduce OSHA Recordkeeping, as a new component of e-CARMAR, its proven Risk Management Information System, at the upcoming RIMS (Risk and Insurance Management Society, Inc.) Conference & Exhibition in New Orleans, La. --- e-CARMA?s OSHA Recordkeeping module enables employers to track, document, and report OSHA-recordable injuries and illnesses. By allowing users to electronically transfer their workers compensation data into the Travelers Recordkeeping solution, e-CARMA will save them the time and effort of manually recording the same information onto the OSHA forms.

16) The Flood Insurance Agency Forms Strategic Marketing Alliance with BancInsure, Inc. - KALISPELL, Mont.--(BUSINESS WIRE)--The Flood Insurance Agency (TFIA) has entered into an agreement with BancInsure, Inc. wherein BancInsure will market TFIA?s total flood insurance compliance solution to their existing client base of approximately 2200 community banks and will utilize the flood compliance solution to attract new bank clients.

17) Key Insurance Measures Pass As Indiana Legislative Session Ends - INDIANAPOLIS, April 30, 2007 ? The American Insurance Association (AIA) today praised the passage of important legislation addressing insurance regulation, seat belt usage and municipal accident response fees by the 115th Indiana General Assembly. - ?While at times it was a challenging session, key issues of importance to the industry advanced that will help strengthen an already solid insurance market in Indiana,? said John Birkinbine, AIA assistant vice president, Midwest Region.

18) AAIS And Insurance Skills Center Establish Partnership - Wheaton, Illinois, April 29, 2007--A national insurance advisory organization and an insurance training organization have formed a new partnership to provide mutual access to educational and promotional materials. -- Most notably, the American Association of Insurance Services (AAIS) will provide online access to its farm- and construction-related insurance program resources to the Insurance Skills Center (ISC), a California-based insurance training organization.

19) MediView Provides Customers Online Planning, Reporting and Analysis Solutions from Benefit Informatics - TULSA, Okla. ? In a very competitive benefits administration market, Third Party Administrators seek every technological advantage to offer their clients cutting-edge administrative services. Many are turning to online resources which allow them to transform daily claims data into management information to help their employer group customers monitor current expenses and forecast future employee benefit costs.

20) INSURANCE NEWSCAST ?Pictures Of The Day?

21) New Edition of Free Fraud Newsletter Available - The May 1, 2007 issue of Zalma's Insurance Fraud Letter (ZIFL) reveals how insurers are succeeding in the war against insurance fraud. It is available free at http://www.zalma.com . - The current issue covers stories including the "Lawyer's Fraud Conviction Overturned -- Still Convicted of Other Charges;" "Definition of Broker by California DOI Overturned;" "I'm Cured! Doesn't Work -- Case Dismissed;" "Courts Ignore Crime While Punishing Unlicensed Contractor;" and many stories of fraud convictions.

22) New LTC Insurance Marketing Tool Kit Targets Business Owners & Self-Employed - Los Angeles, CA - May 1, 2007; When it comes to long-term care insurance, many business owners are still unaware of the significant tax-savings benefits available. ?Business owners have exclusive tax benefits that individuals don't enjoy," explains Jesse Slome, Executive Director of the American Association for Long-Term Care Insurance. "Corporations can use 100 percent tax-deductible business dollars for long-term care insurance for owners and their spouses. Owners can select who receives corporate-paid coverage and premiums can be fully pre-paid prior to when the owner's retirement begins."

23) Oklahoma Governor Henry Vetoes Major Legal Reform Bill - On Saturday, Governor Brad Henry (D), vetoed SB 507, a major lawsuit reform bill that was passed by the Oklahoma legislature after years of intense effort by pro-reform leaders. -- As reasons for vetoing his own proposal, Henry asserted that parts of the bill are unconstitutional and that others would restrict access to the courts by those who are legitimate plaintiffs. These typically are the reasons cited by the personal injury lawyer associations why every lawsuit abuse reform measure should be prevented from being law.

24) PIA's Perpetuation Central to Be Presented to Agencies by Motorists Mutual Insurance During Regional Meetings in May - WASHINGTON, May 1 /PRNewswire-USNewswire/ -- Agency perpetuation is a key priority for both independent insurance agencies and their carrier partners. That's why Perpetuation Central, a tool to assist agency owners plan their perpetuation activities, is being embraced by Motorists Mutual Insurance Company, which will present it during its regional meetings with agency owners in May.

25) PIA Western Alliance Continuing Support for National Moisture Management Protocols & Standards - A year ago the PIA Western Alliance organized two critical moisture management summits to connect moisture management experts with leaders in the insurance, construction, banking, real estate and other industries. The goal was to establish a task force to push for national standards for moisture and mold management in the construction and remediation industry.

26) Indiana First State to Pass Ban on Accident Response Fees - INDIANAPOLIS ? A bill to ban municipalities in Indiana from charging accident response fees (House Enrolled Act 1274) flew through the Indiana General Assembly Saturday. Pending Governor Mitch Daniels? signature, this prohibition is the first of its kind in the nation. - Several vendors across the country are touting these fees to cities and towns as a solution to police funding woes. The vendors convince the local governing body to pass an ordinance allowing insurance companies to be billed when police come out to investigate a traffic accident.

27) Narrowing the Gap Between Risk and Mitigation - Swiss Re Brings Topic to the Table at RIMS - New Orleans ? April 30, 2007 ? There?s a growing disconnect between risk and mitigation, and bold action must be taken to address it. That?s the theme attendees heard at RIMS 2007 during a panel discussion titled ?Global Risks: The View from Davos?. -- Agostino Galvagni, a member of the Executive Board of Swiss Re and Head of the company?s Globals and Large Risks division, addressed the audience and explained Swiss Re?s leadership position in the Global Risk Network of the World Economic Forum and its sponsorship of a groundbreaking and sobering report: ?Global Risks 2007.?

28) Workers? Compensation Policy Review - Summary of the Contents ? January/February 2007 -- The employers? costs of workers? compensation for employees in private industry declined in 2006, reversing a four-year trend of higher costs, as reported in ?Workers? Compensation Costs for Employers 1986 to 2006,? by John Burton. Workers? compensation costs as a percent of payroll declined from 2.47 percent in 2005 to 2.36 percent in 2006 in the private sector.

29) MFS College Savings Plan Survey Forecasts Increased Broker Awareness and Sales Activity Resulting from Pension Protection Act - BOSTON, May 1 /PRNewswire/ -- College savings in the form of 529 savings plans will receive a significant boost as a result of the recently enacted Pension Protection Act (PPA), according to new research of the 529 plan industry by MFS Investment Management. While 529 plans have been gaining in popularity, there is still a huge gap in 529 plan usage. As reported in FRC Monitor, there are 73.5 million children under the age of 18 in the U.S., yet, only 12.6 percent of that total has opened 529 accounts.

30) Deloitte Survey: Nearly Half of CEOs Tapping Overseas Talent; Cite Increased Difficulty Finding, Hiring and Retaining Employees - SAN JOSE, Calif., May 1 /PRNewswire/ -- Citing exceptional employees as the key to their success, fast-growth CEOs admit that finding, hiring and retaining qualified employees is their biggest operational challenge. This is a key reason why they are tapping overseas markets for talent, a trend that will increase over the next five years, according to Deloitte's 2007 CEO Survey of the fastest growing companies in North America as ranked on Deloitte's 2006 Technology Fast 500. At the same time, these CEOs are shying away from doing business outside of North America.

31) UBA Survey: Employers Identify Key Wellness, Employee Education Initiatives; Highlight Current, Desired Benefit Offerings - INDIANAPOLIS, May 1 /PRNewswire/ -- Nearly all employers, regardless of size or industry, have a clear interest in expanding initiatives to help employees manage their personal health more effectively, both as a means to lower plan costs and to have a more stable, productive workforce, according to results released today from United Benefit Advisors' (UBA) 2007 Employer Survey.

32) Personal Savings Rate Numbers Cause for Concern, According to ShareBuilder CEO - BELLEVUE, Wash., April 30 /PRNewswire/ -- The United States Commerce Department reported today that the first quarter personal savings rate was negative 1 percent. This figure continues an alarming negative trend, says Jeff Seely, chairman and CEO of ShareBuilder Corporation, parent company of one of the nation's largest online brokerage firms.

33) John Hancock Tops 401(k) Sales in 2006 - BOSTON, April 30 /PRNewswire-FirstCall/ -- John Hancock Retirement Plan Services (JHRPS) finished 2006 as the #1 overall seller to plans according to the 2006 LIMRA International 401(k) Scorecard.* JHRPS sold contracts to 5,602 plans in 2006. - John Hancock Retirement Plan Services also led in sales when measured by new assets, with sales in the under 500 participant segment greater than the total combined asset sales of the number two and three competitors combined

34) Claimetrics Blasts TPA Industry, Calls For Change - (New Orleans) ? Claimetrics, the dynamic results-driven claims management company launched yesterday, isn't wasting any time in shaking up the industry. Today, at the trade show of the Risk and Insurance Management Society, Claimetrics distributed a controversial document on TPAs who "rely on antiquated technology, outdated processes and attitudes based on past success."

35) Pru gets less than expected from Egg sale to Citi - LONDON, May 1 (Reuters) - Prudential Plc (PRU.L: Quote, Profile, Research has completed the sale of its troubled Internet banking unit Egg to Citigroup (C.N: Quote, Profile, Research for 546 million pounds ($1.1 billion) -- nearly 30 million less than it said in January it expected to get.

36) The Government Accountability Office (GAO) today released the following reports, correspondences and testimony: Reports - 1. Employer-Sponsored Health and Retirement Benefits: Efforts to Control Employer Costs and the Implications for Workers. GAO-07-355, March 30

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