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

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

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

1) Allstate unit to get subpoena on Katrina - NEW YORK, May 4 (Reuters) - A unit of Allstate Corp. (ALL.N: Quote, Profile, Research, the largest publicly traded U.S. car and home insurer, will be servied with a subpoena in connection with claims related to Hurricane Katrina, it said in a filing on Thursday. - The U.S. Department of Homeland Security has told the company that its Allstate Insurance Co. unit will be served with a subpoena for documents with respect to homeowners' claims arising from the hurricane, Allstate said in the filing with the U.S. Securities and Exchange Commission.

2) Money laundering plan targets bulk cash, trade - Thu May 3, 2007 4:09PM EDT By David Lawder - WASHINGTON (Reuters) - U.S. federal agencies on Thursday announced a new anti-money laundering strategy that boosts emphasis on combating bulk cash smuggling and trade-based activities as traditional bank transfer avenues are shut down. - The strategy is based on a money laundering threat assessment report issued last year, which highlighted the rise of non-traditional methods of moving tainted funds.

3) Wal-Mart outlines $1.1 bln employee benefits - NEW YORK, May 3 (Reuters) - Wal-Mart Stores Inc. (WMT.N: Quote, Profile, Research said on Thursday that for its fiscal year ending Jan. 31, it contributed $1.1 billion to U.S. hourly associates through profit sharing and 401(k) accounts, stock purchase plans and merchandise discounts. - The world's largest retailer did not disclose how the figures compared with those from a year earlier.

4) Bank of America sues over LaSalle sale - Fri May 4, 2007 11:17AM EDT - NEW YORK (Reuters) - Bank of America Corp. (BAC.N: Quote, Profile, Research sued Dutch bank ABN AMRO (AAH.AS: Quote, Profile, Research on Friday over the No. 2 U.S. bank's agreement to buy ABN's U.S. unit, LaSalle, seeking an injunction barring the unit's sale to any other party. - Bank of America also said in the lawsuit, filed in U.S. District Court in Manhattan, that ABN had been "unjustly enriched" by billions of dollars because of the premium that Bank of America agreed to pay in its $21 billion offer for LaSalle and sought unspecified money damages.

5) Bank of America to buy into firm started by ex-CIO - NEW YORK, May 4 (Reuters) - Bank of America Corp. (BAC.N: Quote, Profile, Research said Chief Investment Officer Ian Banwell resigned to launch a hedge fund firm in which the bank will take a minority stake. - Walter Muller, the bank's quantitative finance executive, was named to replace Banwell, the No. 2 U.S. bank said in a statement.

6) Credit Suisse to steer clear of bank merger wave - Fri May 4, 2007 9:39AM EDT By Andrew Hurst, European Banking Correspondent - ZURICH, May 4 (Reuters) - Credit Suisse intends to steer well clear of a wave of consolidation in the European banking industry and stick to investment banking and wealth management, the bank's chairman Walter Kielholz said on Friday. - Speaking at the bank's annual shareholders' meeting in Zurich, Kielholz also ruled out any immediate plans by Credit Suisse to expand retail banking operations outside Switzerland, the only country where it has a significant retail presence.

7) Catastrophe bonds offer haven from subprime storm - Thu May 3, 2007 5:10PM EDT By Neil Shah ? Analysis - NEW YORK (Reuters) - Investors seeking to replace the heady returns once enjoyed with bonds tied to U.S. subprime mortgages might consider a security with a higher yield but an entirely different risk: catastrophe bonds. - These lucrative securities, which allow buyers to make bets on the severity of earthquakes and hurricanes, are issued by insurance companies looking to expand cash reserves to pay off policy holders in the event of a major disaster.

8) Cigna ranks No. 1 in doctor payment survey - By Lewis Krauskopf - NEW YORK, May 2 (Reuters) - Cigna Corp. (CI.N: Quote, Profile, Research is the easiest U.S. health insurer for doctors to do business with, according to an analysis of medical claims and administrative efficiency released on Wednesday. -- The analysis by athenahealth Inc., a claims-processing and physician services company, ranked Aetna Inc. (AET.N: Quote, Profile, Research as No. 2. The U.S. government's Medicare Part B program was third. Humana Inc. (HUM.N: Quote, Profile, Research, which was No. 1 last year, placed fourth this year. UnitedHealth Group Inc. (UNH.N: Quote, Profile, Research was fifth.

9) The Government Accountability Office (GAO) today released the following reports and testimonies: - Reports - Tax Administration, Tax Compliance, Crop Insurance, Climate Change, and "Saving Our Future Requires Tough Choices Today

10) Health Insurance Conference To Be Held In New York City On June 6, 2007 - NEW YORK May 3, 2007--Standard & Poor's Ratings Services said today that it will hold its annual health insurance conference on June 6, 2007, in New York City. The conference, called "Health Insurance 2007: Realizing Reform," will focus on several aspects of health care reform as well as on other key issues facing the industry. Senior executives from America's Health Insurance Plans, Health Care Service Corp., HIP health plans, and Humana Inc. will be among the speakers at the conference. Leslie Kirwan of the Executive Office for Administration and Finance of the Commonwealth of Massachusetts will discuss implementation of that state's universal health law.

11) RAA Testifies Before Select Committee On Energy Independence And Global Warming - WASHINGTON, DC (May 3, 2007) ? Franklin W. Nutter, president of the Reinsurance Association of America (RAA), today testified that ?No financial services business is more dependent on the vagaries of climate and weather than property and casualty insurers,? stressing the industry is at great risk if it does not understand global climate variability and the frequency of extreme events.

12) Fireman?s Fund Insurance First To Offer ?Change Of Heart? Coverage With Wedding And Private Event Insurance - Fireman?s Fund Insurance Company has joined forces with insurance agent RV Nuccio & Associates Inc. to offer enhanced insurance policies for weddings and private events to protect the financial interests of their customers. Fireman?s Fund?s Weddingsurance® now protects against change of heart ? the first time an insurance company has offered this coverage.

13) CNA to Withdraw Pacific Exchange Listing, Retain New York Stock Exchange Listing - CHICAGO--(BUSINESS WIRE)--CNA Financial Corporation (NYSE:CNA) today announced plans to withdraw the listing of its common stock from NYSE Arca, Inc., formerly the Pacific Exchange. CNA?s common stock will continue to be listed on the New York Stock Exchange. - CNA has decided to withdraw its listing from NYSE Arca, Inc. to streamline operations and eliminate duplicative administrative requirements inherent with dual listings as a result of the NYSE Group?s merger with Archipelago Holdings, the parent company of NYSE Arca. The withdrawal is expected to be effective within the next month.

14) MetLife to Permit Rule 10b5-1 Trading Plans - NEW YORK--(BUSINESS WIRE)--MetLife, Inc. (NYSE: MET) announced today that members of its board of directors and certain employees may now enter into Rule 10b5-1 trading plans, which are permitted under the Securities Exchange Act of 1934. These individuals, including senior executives and others who regularly have access to material nonpublic information, may now establish prearranged trading plans for future purchases or sales of MetLife, Inc. common stock (or the exercise of stock options). These individuals must not be aware of material, nonpublic information at the time the plan is established. Once a plan is established, trades may take place pursuant to the plan regardless of whether an individual is aware of material, nonpublic information.

15) Safeco Announces $250 Million Share Repurchase - SEATTLE, May 4 /PRNewswire-FirstCall/ -- Safeco (NYSE: SAF) today announced it has executed a Rule 10b5-1 trading plan to purchase up to $250 million of its outstanding common stock. A Rule 10b5-1 plan allows Safeco to repurchase its shares during periods when the company would normally not be active in the market because of its own internal trading windows.

16) Health Care Leaders Urge Legislature to End State's Code Blue Health Care Crisis by June 1 - LANSING, Mich., May 3 /PRNewswire-USNewswire/ -- Michigan hospital officials, physicians, long-term care and mental health providers gathered in front of the state Capitol today to implore the Legislature to immediately solve the state's budget crisis and reject staggering Medicaid cuts that will take effect June 1 absent a budget solution.

17) Pennsylvania Should Preserve and Strengthen Governor's Health Proposal, Analyst Advises - PITTSBURGH, May 3 /PRNewswire-USNewswire/ -- Pennsylvania lawmakers should preserve and strengthen key elements of Governor Rendell's health care proposal, an analyst from the Center on Budget and Policy Priorities told the House Insurance Committee today. The proposal, now before the House as the Pennsylvania Health Care Reform Act, aims to expand access to health care and improve quality while reducing health care costs.

18) JCG Group Conferences, Mintel Comperemedia, and The Credo Group (a TRANZACT Company) present the 5th Annual Insurance Direct Marketing Forum & e-Commerce Assembly: Integrated Marketing - April 26, 2007 (Middletown, DE) ? On September 10-11, 2007, hundreds of insurance direct marketers will gather for the 5th Annual Insurance Direct Marketing Forum & e-Commerce Assembly to be held at the Loews Vanderbilt Hotel in Nashville, Tennessee. -- This year?s keynote address will be delivered by Shawn D. Morris, Senior Vice President and Chief Marketing Officer of AIGM

19) Groundbreaking Proposals For Increasing Retirement Savings To Be Released By Diverse Coalition Of Experts - WASHINGTON ? The Conversation on Coverage, an unprecedented public policy initiative to expand retirement savings, will release its final recommendations on May 11 at the National Press Club. Covering the Uncovered: The Final Report of the Conversation on Coverage offers innovative common-ground proposals to increase pensions and retirement savings for American workers ? particularly low- and moderate-income wage earners. - WHEN: Friday, May 11, 2007 9:30 a.m.

20) INSURANCE NEWSCAST ?Pictures Of The Day?

21) Pioneer in Disease Management Selects Medical Care Corporation's Memory Assessment Technology - IRVINE, Calif., May 3 /PRNewswire/ -- Medical Care Corporation's memory assessment technology has been selected by Secured Independence, Inc., a leading provider of wellness and disease management solutions for the senior market, for Secured Wellness(SM) LTCI, the first wellness and disease management solution customized for the long term care insurance (LTCI) industry. Chosen for its unsurpassed accuracy, Medical Care Corporation's technology enables identification of memory loss with over 97% accuracy.

22) SNL Financial Joins Research Entitlements Consortium - London, U.K. (May 3, 2007) - The Research Entitlements Consortium (REC), a group of buy-side firms, brokers and information providers devoted to improving investment research distribution, has announced the addition of SNL Financial to its membership, effective immediately. - Marking its 20th anniversary this year, SNL Financial is a leading multisector-focused information and research firm in the financial marketplace.

23) Advisen Exceeds One Million Insurance Programs For Benchmarking - New York, April 30, 2007 ? Advisen, Ltd., the leading provider of technology and data to the global commercial insurance industry, today announced that its benchmarking program database contains more than one million insurance programs. Advisen?s Program Benchmarking application compares current and historical premiums, limits and retentions directly, as well as relative to exposure and demographic values, against peer groups assembled from more than 237,000 commercial insurance buyers.

24) Pollster Zogby to Keynote at Independent Insurance Agents & Brokers of NY Annual Business Meeting - (DeWitt, New York, April 30, 2007) ? The keynote speech of Zogby International President and CEO John Zogby and the election of officers and board directors will highlight the May 11 Annual Business Meeting of the Independent Insurance Agents & Brokers of New York, Inc. In addition, the expected installation as IIABNY chair of Stephen R. Zogby, the pollster?s cousin and executive vice president of Scalzo, Zogby & Wittig, Inc. in New Hartford, New York, will precede the keynote address. This year?s assembly marks IIABNY?s 125th anniversary, and will include speeches from a state insurance regulator and national industry leader. The not-for-profit trade association?s annual gathering will take place at Turning Stone Resort & Casino in Verona, New York.

25) Long Term Care Insurance Fights African Poverty - Atlanta, Georgia , April 30 ? Can long term care insurance indirectly improve the lives AIDS-plagued Africans? Many in the LTC industry seem to think so. Five organizations have pledged contributions to the Rabuor Village Project, a comeback model for villages throughout Africa. They join LTC Financial Partners (LTCFP), the nation's most experienced long term care insurance brokerage, which announced on December 1 that it would contribute 2% of its profits each year to the Rabuor Village Project.

26) Employers Reveal Hidden Value of Compensation and Benefits Packages with TotalCompBuilder Software - ROCKLIN, CA / April 30, 2007 ? In an age where employees value their benefits as highly as their paycheck, communicating those benefits can be crucial to retaining top talent. -- This reality is behind the introduction of TotalCompBuilder.com, the first web-based, on-demand total compensation statement software for employers. Developed by TotalRewards Software, two premiums editions are available ? Professional and Enterprise. The two full-featured premium editions start at $600 per year per client.

27) Insurance Agents Are Like Toasters - We work in a unique industry ? one in which insurance agents are like toasters. Let me explain? -- Everyone owns and uses at least one small appliance at home. It might be a toaster, a garage door opener or a microwave oven. No doubt it?s something we use every day. And yet, we can?t recall the brand name of the appliance. We all know what it looks like and how it operates, but generally can?t remember who the manufacturer is? until it breaks.

28) The Lost Art of Persuasion: Drop the PowerPoint® Crutch?and Win Over Even the Toughest Group - Hoboken, NJ (May 2007)--If you present for a living--whether you're a CEO selling your ideas to the board or a salesperson trying to win new business--your job is tougher than ever. You face relentless competition. People are bombarded with messages from the media, the Internet, and other sources. It's getting harder and harder to break through the clutter, yet that's what you must do in order to persuade your audience. And ironically, in a time when you most need to hit your prospects with a powerful pitch, you're likely to fall back on an ineffective crutch: PowerPoint.

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