INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 05/09/07

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

INSURANCE NEWSCAST "Headlines Only Edition" for: Wednesday, 05/09/07

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

America's Top Business Leaders and Employers Join Forces to Advance Healthcare Reform - WASHINGTON, May 7 /PRNewswire-USNewswire/ -- Today, nearly 40 of the nation's top business leaders and largest employers joined forces to announce the formation of the Coalition to Advance Healthcare Reform (CAHR). Standing shoulder to shoulder with lawmakers at a Capitol Hill press conference, they discussed the coalition's core principles, its mission and called for meaningful federal and state policy reforms by 2009 to solve the nation's healthcare crisis.

U.S. hospitals charge uninsured more, study says - Tue May 8, 2007 12:11AM EDT, By Kim Dixon - CHICAGO (Reuters) - U.S. hospitals are charging uninsured patients about two-and-a-half times more than those with health insurance, a mark-up that has been steadily rising despite pressure to level prices, a study released on Tuesday found. -- In 2004, the most recent year for which data was available, hospital patients without health insurance and others who pay for medical care out of their own pockets were charged an average 2.57 times more than those with health insurance, according to the study published in the May-June issue of the journal Health Affairs.

S&P Equity Research Sees Growth for PC Industry Being Driven by Sales Outside of the United States - NEW YORK, May 7 /PRNewswire/ -- As the computer hardware industry continues to grow, Standard & Poor's Equity Research Services sees it as a tale of two markets -- the U.S. and non-U.S. Consumer price competition and a slowdown in commercial orders, driven by middling corporate sales, has led to decreased growth from the U.S. computer hardware industry. At the same time, Asia and Europe have experienced rising sales of PC units, particularly for notebooks, as well as servers. These and other findings are available in a semi-annual report titled Computers: Hardware Industry Survey, published by Standard & Poor's, a leading provider of financial market intelligence.

Final Florida Property Insurance Package Much More Than ?Glitch? Bill - INDIANAPOLIS (May 8, 2007) ? Legislation passed in the final days of the 2007 Florida Legislature could have a significant detrimental impact on consumers. The one positive note for consumers, the lack of action on the state?s no-fault auto insurance system and allowing it to sunset later this year, could be threatened during an upcoming special session in June.

Marsh & McLennan profit falls about 36 percent - NEW YORK (Reuters) - Marsh & McLennan Cos. (MMC.N: Quote, Profile, Research, one of the world's largest insurance brokers, on Tuesday said first-quarter profit fell about 36 percent, though operating profit increased 14 percent as revenue rose in several business lines. - Net income for the New York-based company fell to $268 million, or 47 cents per share, from $416 million, or 75 cents, a year earlier, Marsh said. Results included 5 cents per share of restructuring, litigation and other charges.

Medical Mutual of Ohio Acquires Carolina Care Plan - COLUMBIA, S.C., May 8 /PRNewswire/ -- Medical Mutual of Ohio has reached an agreement in principle to purchase Carolina Care Plan Inc., for an undisclosed amount. - Carolina Care Plan will continue to be based in Columbia and operate under the same name. -- The transaction is subject to regulatory approval and by Carolina Care Plan's shareholders on May 14. The South Carolina Physicians Care Charity has already voted in favor of the deal.

Hilb Rogal & Hobbs Company Acquires Global Special Risks, LLC - RICHMOND, Va.--(BUSINESS WIRE)--Hilb Rogal & Hobbs Company (NYSE:HRH), the world?s 10th largest insurance and risk management intermediary, announced that it has acquired the operating assets of Global Special Risks, LLC, effective May 1, 2007. The terms of the transaction were not disclosed.

Scottish Re Completes $600 Million Equity Investment by MassMutual Capital and Cerberus - HAMILTON, Bermuda, May 7 /PRNewswire-FirstCall/ -- Scottish Re Group Limited (NYSE:SCT) , a global life reinsurance specialist, today announced the completion of the $600 million equity investment transaction announced November 27, 2006 by MassMutual Capital Partners LLC, ("MassMutual Capital"), a member of the MassMutual Financial Group, and affiliates of Cerberus Capital Management, L.P. ("Cerberus"), a leading private investment firm.

Universal American to Acquire MemberHealth, Inc. - RYE BROOK, N.Y.--(BUSINESS WIRE)--Universal American Financial Corp. (?Universal American?) (NASDAQ: UHCO) announced today that it has entered into a definitive agreement to acquire MemberHealth, Inc. (?MemberHealth?), a privately-held pharmacy benefits manager (?PBM?) and sponsor of CCRx, a national Medicare Part D plan with more than 1.1 million members. The purchase price will be approximately $630 million, consisting of 55% in cash and 45% in Universal American common stock valued at $20 per share, plus potential performance-based consideration.

In The Aftermath Of Kansas And Oklahoma Tornadoes, Insurance Claims Filing Begins For Victims - NEW YORK, May 7, 2007 ? Victims of the severe tornadoes that swept through Kansas on Friday, May 4, and parts of Oklahoma on Saturday, May 5, are struggling to put the pieces of their lives back in place and getting ready to begin the claims filing process. -- Thousands of homes, businesses and vehicles were destroyed by the twister that sent 205-mph winds through the town of Greensburg, Kansas. The Oklahoma town of Sweetwater, about 225 miles south of Greensburg, was hit hard by a twister that severely damaged a high school and other buildings.

Pitney Bowes MapInfo and WSI Join Forces to Provide Insurers with Weather Risk Data - SEATTLE--(BUSINESS WIRE)--Pitney Bowes MapInfo, the leading global provider of location intelligence, today announced an alliance with WSI Corporation (www.wsi.com), the world's leading provider of weather-driven business solutions, to integrate real-time and forecasted weather information within the Pitney Bowes MapInfo® desktop and Web-based location intelligence applications. This integration enables insurers, reinsurers and brokers to analyze geographic risk exposure with greater detail, resulting in more accurate business decisions.

Insurers Making Progress at First Anniversary of Anti-Money Laundering Regulation ... but Challenges Remain - NEW YORK--(BUSINESS WIRE)--Ernst & Young today announced the results of its ?Anti-Money Laundering Survey for the U.S.-Based Life Insurance Industry.? The survey offers insight into the current state and future plans of insurers with respect to meeting the Department of Treasury?s anti-money laundering (AML) regulations that took effect in May 2006. -- With the first anniversary of compliance this month and the Internal Revenue Service committing that it will commence regulatory assessments of AML program effectiveness on behalf of the Treasury Department, the survey results suggest that insurers have made great strides but still face hurdles to fully implementing all of the required elements.

Ameritas Seeks Approval to Purchase LifeRe Insurance Company - LINCOLN, Neb.--(BUSINESS WIRE)--Ameritas Life Insurance Corp., a UNIFI Company, submitted a filing to the Texas Department of Insurance seeking approval to purchase LifeRe Insurance Company of San Antonio, Texas. - The sale of LifeRe is prompted by the retirement of Chairman of the Board and CEO Richard Galland. ?After a career in the insurance industry that spans 47 years, I targeted 2007 for retirement,? says Galland. ?When searching for a company to acquire my business, I looked for a highly rated company with financial stability, a similar culture, and great people. I found that with Ameritas.?

AIR Worldwide Collaborates with FIU to Enhance Understanding of Hurricane Vulnerabilities - BOSTON--(BUSINESS WIRE)--AIR Worldwide Corporation (AIR) announced today that it has collaborated with the International Hurricane Research Center (IHRC) and the College of Engineering and Computing at Florida International University (FIU), and will fund the installation of the ?AIR Turntable? for the ?RenaissanceRe Wall of Wind? (WOW) hurricane simulator. The AIR Turntable is a computer controlled, mechanical platform which will be used to better evaluate extreme wind loading conditions by facilitating the testing of buildings at different angles of attack. The AIR Turntable will be programmed to simulate directionality-change effects on test structures.

Health Net Launches Nation?s First Preventive Medicare Plan - TEMPE, Ariz.--(BUSINESS WIRE)--Health Net of Arizona, Inc. today announced the first ever Medicare Advantage Special Needs Plan designed specifically for seniors with high cholesterol. This product is distinctive because of its focus on prevention, seeking to delay or thwart altogether the onset of chronic illnesses linked to high cholesterol. --- Health Net Sage is available to Medicare beneficiaries in Maricopa and Pima counties in Arizona who have cholesterol levels of 200 or higher. Members pay no monthly premium, and no copay to visit their primary care doctor or to fill generic prescriptions.

New Professional Liability Insurance Program Expands Options for Lawyers Other Insurers Have Declined - FAIRLAWN, Ohio--(BUSINESS WIRE)--A new lawyers? professional liability program offers improved underwriting flexibility and manageable rates for attorneys who have been turned down or priced out of the market by standard carriers. Brunswick Companies, a leading insurance risk management firm, has been named by Lloyd?s of London as the U.S. administrator of a new program designed to meet the needs of law firms of one to fifteen attorneys who have been unable to secure coverage due to practice specialty, claim activity, disciplinary history, or other unusual risk characteristics.

Conning Research: Upcoming Baby Boomer Retirement Bulge to Redefine Retirement Market Strategy for Life-Annuity Companies - HARTFORD, Conn., May 8 /PRNewswire/ -- The retirement industry is facing looming strategic and operational challenges as more than 70 million Baby Boomers near retirement, according to a new study by Conning Research and Consulting, Inc.

Like Mother, Like Daughter? Not When It Comes to Retirement, According to New Study from the MetLife Mature Market Institute - WESTPORT, Conn.--(BUSINESS WIRE)--A new survey on women and retirement may defy Oscar Wilde's adage that ?all women become like their mothers.? "It's Not Your Mother's Retirement: The MetLife Study of Women and Generational Differences" reports that young women have their own ideas about how they will spend their later years. -- Daughters (22%) are almost twice as likely as their mothers (12%) to have $25,000 or more in consumer debt (apart from home mortgages). Mothers, not surprisingly, are concerned about the younger group?s ability to adjust to living on a fixed income.

American Moms Are Better Than Dads at Teaching Children How to Manage Money, Ameriprise Financial Survey Reports - MINNEAPOLIS--(BUSINESS WIRE)--Mothers are more influential than fathers in teaching Americans how to manage their money, according to a survey released today by Ameriprise Financial Inc. and conducted by CARAVAN® Opinion Research Corporation (CORC). Fifty percent of survey respondents said it was their mother, compared to only 38 percent who said it was their father, who was more influential in teaching money management.

A.M. Best Launches Syndication-Ready Web Videos Explaining Business Insurance Products - OLDWICK, N.J.--(BUSINESS WIRE)--Agents, brokers, insurance companies and professionals now can host online videos explaining specific types of business insurance coverage. The entertaining and informative videos are based on entries from The Guide to Understanding Business Insurance Products, a new book from the A.M. Best Co. The videos can be placed on Web sites, Web pages and blogs or linked to e-mails.

AIG Financial Products Corp. Announces Strategic Investment in The REX Group - WILTON, Conn.--(BUSINESS WIRE)--AIG Financial Products Corp. (AIG-FP), a member company of American International Group, Inc. (AIG), today announced that it has taken a significant minority equity stake in The REX Group, a group of San Francisco-based home finance companies, including Real Estate Equity Exchange, Inc. and Odin Investment Management LLC.

Arch Insurance Group Introduces New Private Company Management Liability Coverage - NEW YORK--(BUSINESS WIRE)--Arch Insurance Group, a member of Arch Capital Group Ltd., today announced it is offering a new product for private companies. - Arch Corporate Canopysm is a multi-cover policy specially designed to help private companies combat an array of risks. From employee suits relating to discrimination and wrongful termination, to breach of fiduciary duty, creditor suits, bankruptcy and computer fraud ? Arch Corporate Canopy provides protection against claims that could potentially devastate a private company?s bottom-line.

The Doctors Company Announces the Tribute Plan - NAPA, Calif.--(BUSINESS WIRE)--The Doctors Company, the nation?s leading physician-owned medical malpractice insurance carrier, is pleased to introduce the Tribute Plan, a breakthrough new financial benefit that rewards physician members for their loyalty to the company and for their commitment to outstanding patient care. - ?The Tribute Plan is a significant reward that underscores The Doctors Company?s mission to advance and protect the practice of good medicine,? said Richard E. Anderson, MD, FACP, chairman and CEO of The Doctors Company.

The Aetna Dental/Medical IntegrationSM Program Offered at No Additional Charge to Employers with Both Aetna Dental and Medical Coverage - HARTFORD, Conn.--(BUSINESS WIRE)--Aetna (NYSE: AET) announced today that effective immediately, it will automatically offer at no additional charge its Aetna Dental/Medical Integration (DMI) program for employers who have both Aetna dental and medical coverage. The DMI program benefits pregnant women and at-risk members with diabetes and cardiovascular diseases.

Renaissance Life & Health Insurance Company of America Announces New Selling Agencies in Florida and North Carolina - OKEMOS, Mich., (May 7, 2007) ? Renaissance Life & Health Insurance Company of America (Renaissance America), a member of the Renaissance family of companies, recently announced its partnership with agencies in Florida and North Carolina to sell the company?s premier product, Renaissance Dental. Tonya Draughon, manager of market development for Renaissance America made the announcement.

State Auto Middle Market Insurance enters Texas; industry veteran to lead Austin-based office - COLUMBUS, Ohio ? May 8, 2007 ? A fast-growing business insurance unit of the State Auto Insurance Companies is coming to Texas, which recently became the companies? 29th state of operation through the acquisition of the Beacon Insurance Group of Wichita Falls, Texas.

USI Holdings Corporation Completes Merger - BRIARCLIFF MANOR, N.Y.--(BUSINESS WIRE)--USI Holdings Corporation today announced the completion of the merger in which USI has been acquired by GS Capital Partners, a private equity affiliate of Goldman, Sachs & Co. -- Under the terms of the agreement, USI stockholders will receive $17.00 in cash for each share of USI common stock they hold, representing a premium of 20.5% to the average closing share price for the 30 calendar days prior to October 24, 2006, the day USI announced that it had formed a special committee in response to an indication of interest received from a private equity firm in acquiring all of USI?s outstanding common stock. USI common stock will cease trading on the Nasdaq at market close on May 4, 2007, and will no longer be listed.

Life Settlement Solutions Seeks Stories of Life-Changing Life-Settlement Transactions - SAN DIEGO--(BUSINESS WIRE) -- For many high-net-worth seniors, cashing in unneeded or unwanted life-insurance policies via life settlements has been life-changing because they provide funds for investments, retirement plans or long-term care needs. --- In preparation for Life Settlement Awareness Month in June, Life Settlement Solutions is calling upon agents and brokers to submit stories of how life settlements have been life-changing for clients, for inclusion on the Life Settlement Awareness Month Web site (www.lifesettlementawarenessmonth.com) and in Life Settlement Awareness Month promotional materials.

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