INSURANCE NEWSCAST "Headlines Only Edition" for: Friday, 05/11/07

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

INSURANCE NEWSCAST "Headlines Only Edition" for: Friday, 05/11/07

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

Scor wins Converium with $2.8 bln raised bid - By Douwe Miedema - ZURICH, May 10 (Reuters) - France's Scor (SCOR.PA: Quote, Profile, Research won Swiss rival Converium (CHRN.S: Quote, Profile, Research on Thursday after raising its takeover bid to 3.4 billion Swiss francs ($2.8 billion) in a move to create the world's fifth-largest reinsurer. - Converium, after a round of late-night talks, advised its owners to accept the increased cash-and-share offer, avoiding a showdown with Scor -- which already holds 32.9 percent of Converium -- at a shareholder meeting in Zurich.

Friends Provident jumps on fresh takeover talk - LONDON, May 10 (Reuters) - Shares in Britain's Friends Provident (FP.L: Quote, Profile, Research rose almost 9 percent on Thursday, fuelled by market talk it could be the target of a takeover, possibly by a larger rival like France's AXA (AXAF.PA: Quote, Profile, Research, traders said. - Friends Provident, Britain's smallest bluechip insurer, has frequently been the object of takeover rumours, with insurance giant AXA, a shareholder, regularly named as a possible buyer.

One in three businesses fear terrorist attack: Lloyd's - Wed May 9, 2007 11:11AM EDT - By Simon Challis, European Insurance Correspondent - LONDON (Reuters) - More than a third of international businesses fear they could become the victims of a terrorist attack, a report by Lloyd's of London insurance market said on Wednesday. - Some 36 percent of companies surveyed predicted their facilities could be targeted by terrorists in the next five years while nearly half of the companies questioned thought it highly likely their IT infrastructure could come under attack.

Bank of America launches no-fee home mortgages - By Jonathan Stempel - NEW YORK, May 7 (Reuters) - Bank of America Corp. (BAC.N: Quote, Profile, Research on Monday said it is offering no-fee mortgages nationwide for Americans buying homes. - The second-largest U.S. bank said it won't charge for applications, appraisals, loan originations, title insurance and flood certifications. It also won't charge for private mortgage insurance -- often required for borrowers who put less than 20 percent down.

Higher chance of Gulf Coast hurricane in '07 - Tue May 8, 2007 2:34PM EDT - By Erwin Seba - HOUSTON (Reuters) - There is an above-average chance that a major hurricane will hit the U.S. Gulf Coast this year, marking a possible return to the destructive seasons of 2004 and 2005, leading storm forecasters predicted on Tuesday. --- "For energy markets, it's a bullish forecast," said AccuWeather forecaster Joe Bastardi. "The highest area of risk has swung southwest from the Atlantic to Florida and the eastern and central Gulf Coast regions.?

Lilly says to protect employees' genetic information - May 9 (Reuters) - Eli Lilly and Co. (LLY.N: Quote, Profile, Research announced an expansion of its employee policies to include protection of genetic information. - Lilly said this ensures that an employee's genetic information cannot be used to discriminate against them when making employment choices and benefits eligibility decisions. (Reporting by Varsha Tickoo in Bangalore)

Scruggs Katrina Group Statement On Resolution Of MetLife Claims - May 1, 2007 - Metropolitan Property & Casualty Insurance Company (MetLife) and the Scruggs Katrina Group have reached an agreement that will resolve the disputed claims of 34 MetLife policyholders. The terms of the settlement are confidential and subject to client approval, but we are confident that all of our clients will accept the settlement. We hope to start dispersing checks early next week.

A.M. Best: Tornadoes Responsible for 56% of Insured Catastrophe Losses in the United States - OLDWICK, N.J.--(BUSINESS WIRE)--Tornado and related weather events were particularly costly in 2006, creating more than $8 billion in insured losses?the worst year on record. - To obtain a complimentary copy of the report and the accompanying data, visit www.ambest.com/press/041707tornadoreport.pdf.

Judi Moreo To Deliver Keynote At Workplace Benefits Mania 2007 "Communicate for Results" - Cleveland, OH -- 04/25/07 The Workplace Benefits Association is pleased to announce that Judi Moreo To Deliver Keynote At Workplace Benefits Mania 2007 "Communicate for Results will deliver a keynote presentation at the Workplace Benefits Mania 2007 (July 16, 2007, Caesars Palace, Las Vegas, NV). -- Judi doesn?t just talk about success?She Lives It! In 2003, the US Business Advisory Council named her ?Nevada Business Person of the Year? and the Las Vegas Chamber of Commerce awarded her company, Turning Point International, with a ?Circle of Excellence? Award. In 1986, the Chamber also honored her as ?Woman of Achievement ? Entrepreneur.?

HSBC, Aviva to form joint insurance venture - LONDON, May 10 (Reuters) - Britain's largest bank HSBC (HSBA.L: Quote, Profile, Research and its largest insurer Aviva (AV.L: Quote, Profile, Research plan to create an insurance joint venture that will underwrite and distribute general insurance products to HSBC's 10 million UK customers. -- The two sides said they aimed to make the venture, which will be branded 'HSBC Insurance', a top 10 firm in UK general insurance -- implying annual premiums of around 600 million pounds ($1.2 billion) -- The deal is set to be completed in the second half of 2007.

Aon Establishes New Turnaround and Restructuring Practice - CHICAGO, May 10 /PRNewswire-FirstCall/ -- Business conditions appear to be ripe for more frequent business "turnarounds" and Aon is responding. - Significant capital at the disposal of large and middle-market-oriented private equity firms and hedge funds, and more companies in crisis with available cash delaying fixing operational problems, are a recipe for increased "turnaround" activity. To that end, Aon has created a new business organization -- the Turnaround and Restructuring Practice (TARP).

Wolters Kluwer Financial Services Announces Flood Indicator Functionality Within Flood Wiz - WALTHAM, Mass., May 10 /PRNewswire/ -- Wolters Kluwer Financial Services, through its line of PCi compliance analytics solutions, announced today the availability of Flood Indicator functionality within its Flood Wiz(R) solution. Flood Wiz gives lenders access to the most up-to-date and accurate flood risk data, and can produce a flood determination within seconds. The indicator functionality, accessed via the Flood Wiz web site (http://www.floodwiz.com), enables lenders to begin the flood risk assessment process earlier in the lending cycle to better prepare borrowers for a potential flood insurance purchase.

AHIP Statement on HHS Roundtable Discussion of Value in Health Care - WASHINGTON, May 9 /PRNewswire-USNewswire/ -- At a roundtable of key business, labor, government, community, and health care leaders from across the nation sponsored by the Department of Health and Human Services (HHS), Karen Ignagni, President and CEO of America's Health Insurance Plans (AHIP), issued the following statement on progress in providing the highest value health care to patients: (Logo: http://www.newscom.com/cgi-bin/prnh/20040830/AHIPLOGO )

Prepared Remarks of Attorney General Alberto R. Gonzales at Press Conference With Michael Leavitt, Secretary of Health and Human Services, to Announce Initiative to Combat Medicare Fraud - WASHINGTON, May 9 /PRNewswire-USNewswire/ -- The following is a transcript of remarks of Attorney General Alberto R. Gonzales at a press conference with Michael Leavitt, Secretary of Health and Human Services, to announce initiative to combat Medicare fraud: I'm pleased to be here today with Secretary Leavitt to announce significant arrests involving Medicare fraud in south Florida, and to discuss the important work of a newly established Strike Force designed to identify, prosecute and disrupt Medicare fraud schemes.

Strike Force Formed to Target Fraudulent Billing of Medicare Program By Health Care Companies - WASHINGTON, May 9 /PRNewswire-USNewswire/ -- Thirty-eight people have been arrested in the first phase of a targeted criminal, civil and administrative effort against individuals and health care companies that fraudulently bill the Medicare program, Attorney General Alberto R. Gonzales and Secretary Michael Leavitt of the U.S. Department of Health and Human Services announced today. --- Since the first phase of strike force operations began on March 1, 2007 in southern Florida, the strike force has obtained indictments of individuals and organizations that have collectively billed the Medicare program for $142,061,059.

Thomson Survey: Consumer Healthcare Information Tools Are a Priority for Employers, Health Plans, and Government Agencies - ANN ARBOR, Mich., May 9 /PRNewswire/ -- In a survey of executives and officials from large employers, health plans, and government health agencies, more than 90 percent said it is a priority for their organizations to ensure consumers have information tools that help them make sound healthcare decisions. -- The survey was conducted by Thomson Healthcare, released the results today in San Antonio at Connection 2007, the annual Thomson Healthcare customer conference.

SBA Loan Applications Are Key to Disaster Recovery Funds - ATLANTA, May 9 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration (SBA) urges recent storms and flood victims to return applications even if they have insurance. Those who do not return their SBA application may be missing out on referral for additional help for individuals in the form of grants. - Homeowners, renters, and business owners who are not fully covered by insurance may need additional funding to replace items and complete their repairs. "A disaster loan could close the funding gap and provide the necessary financing to help victims recover from their losses," said Frank Skaggs, Director of SBA Field Operations Center East.

Travelers Provides Kidnap and Ransom Crisis Management Support Through ASI Global - SAINT PAUL, Minn.--(BUSINESS WIRE)--Travelers (NYSE:TRV) today announced the availability of crisis management support to kidnap and ransom policyholders around the world through ASI Global, LLC, a wholly owned subsidiary of ASI Group, LP, a leading independent risk consulting organization that provides intelligence and security services to Fortune 500 and international companies, government agencies, humanitarian organizations, high profile executives, celebrities and high-net worth individuals.

NATION?S INSURERS URGE UNITED FRONT TO FIGHT FRAUD - Des Plaines, IL?Driven by an annual fraud loss of $30 billion, the nation?s property and casualty insurance companies are taking aggressive action to attack this problem based on a two-year, industry-wide review of their fraud fighting efforts. --- During this review, five ?pillars? were identified as critical components to an effective fraud fighting structure. They are: Public Awareness, Legislative Advocacy, Training, Data Analysis and Investigations

AIR Worldwide Collaborates with China Earthquake Administration?s (CEA) Institute of Geology to Research Active Faults in China - BOSTON--(BUSINESS WIRE)--AIR Worldwide Corporation (AIR) today announced a collaboration with the China Earthquake Administration?s (CEA) Institute of Geology. As part of the collaboration, CEA will research active faults and paleoseismic studies in China. The findings of the research will enhance AIR?s China earthquake model to include the most complete database of active faults and pre-historic earthquake data in China.

AIR?s U.S. Hurricane Model Certified by the Florida Commission for the Eleventh Consecutive Year - BOSTON--(BUSINESS WIRE)--AIR Worldwide Corporation (AIR) today announced the certification of its 2007 U.S. Hurricane Model by the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM). Models are certified on an annual basis by the FCHLPM for use by insurers for residential rate filing. This marks the eleventh consecutive year that AIR has met the rigorous standards of the FCHLPM since its inception in 1996.

Leading Risk Modeling Company Adds Carvill Hurricane Index to Modeling and Risk Assessment Process - CHICAGO--(BUSINESS WIRE)--Carvill, a leading independent reinsurance intermediary in specialty reinsurance, today announced an agreement with the world?s premier risk modeling and technology firm, AIR Worldwide Corporation (AIR), to provide modeled support for the Carvill Hurricane Index (CHI?). AIR will provide a dataset containing a CHI value for each simulated hurricane in both their standard and near-term U.S. hurricane models.

RMS Calls for Change to Regulatory Systems that Fail to Acknowledge Current Levels of Hurricane Risk - During the week of April 23, the Professional Team of the Florida Commission on Hurricane Loss Projection Methodology (FCHLPM) visited the RMS offices to assess the v6.0 RMS U.S. Hurricane Model. The model submitted for review incorporates our standard forward-looking estimates of medium-term hurricane activity over the next five years, which reflect the current prolonged period of increased hurricane frequency in the Atlantic basin. This model, released by RMS in May 2006, is already being used by insurance and reinsurance companies to manage the risk of losses from hurricanes in the United States.

Immediate Income #1 Need for Retirees, Survey Finds - MINNEAPOLIS--(BUSINESS WIRE)--As the Boomer generation nears retirement, there is a growing sea change from the need to accumulate assets to having sufficient income to live an enjoyable post-working career life. This shift, underscored by a whopping 88% of those polled in a nationwide survey just completed, represents a doubling or tripling of a question posed less than five years ago. Moreover, the just-completed polling found if you want to live at least 30 years in retirement, all things considered, you cannot withdraw more than 4 to 6% of your savings.

Non-savers? Most Cite Bills, Medical Expenses as Barriers - WINDSOR, Conn., May 10, 2007 ? For an estimated 44 million U.S. employees, paying the bills, keeping up with the high cost of medical care and lack of an employer-sponsored retirement savings plan are some of the main reasons they are not saving for retirement, according to a report from LIMRA International. --- In the survey, bills, health expenses, mortgage payments and education costs were the reasons most cited for not being able to save.

PIA Announces New Agents? E&O Program with Aon and CAN - WASHINGTON ? The National Association of Professional Insurance Agents (PIA) has announced that agreements have been signed with Aon Affinity Insurance Services and the CNA Insurance Company to create a new PIA National Agents? E&O Insurance Program. This new program will be delivered and rolled-out in phases as it grows and adapts to meet the changing needs of Professional Insurance Agents.

AssuranceAmerica CORPORATION Announces First Policy in Mississippi - ATLANTA--(BUSINESS WIRE)--ASSURANCEAMERICA CORPORATION (OTCBB: ASAM), an Atlanta based insurance holding company with operations in the Southeastern United States announced today that AssuranceAmerica Insurance Company wrote its first auto insurance policy in the state of Mississippi. While its insurance company or managing general agency (MGA) is licensed to write in eleven states, Mississippi becomes the seventh state in which AssuranceAmerica actually conducts business.

The Hanover Enhances Small Commercial Workers' Compensation Product - Helps its Agent Partners Write Total Accounts - WORCESTER, Mass., May 9 /PRNewswire-FirstCall/ -- The Hanover Insurance Group, Inc. (NYSE: THG), a leading super regional property and casualty company, today announced it has broadened its appetite for commercial workers' compensation risks, demonstrating a continued commitment to offering agent partners a total account solution for small commercial businesses.

World?s Top Experts To Outline Booming Demand for Consumer Digital Healthcare Solutions - Framingham, MA ? May 9, 2007? EH Publishing, Inc. today announced the launch of the Consumer HealthTech Summit, an executive conference exclusively focused on the emerging market for consumer digital health and wellness devices, applications and services, scheduled for September 24 ? 26, 2007 at the Grand Hyatt San Francisco. The event will help manufacturers, developers, communications and health and wellness service providers understand business opportunities, identify revenue and distribution sources, and provide product development guidance for digital health and wellness technologies and solutions.

ISO to Provide Workers Compensation Data Reporting Services to Utica Mutual - JERSEY CITY, N.J., May 9, 2007 ? ISO has signed a licensing agreement to provide Workers Compensation Information Services (WCIS) to Utica Mutual Insurance Company, a leading writer of workers compensation insurance programs. The company, based in New Hartford, New York, is a subsidiary of the Utica National Insurance Group. -- Under the agreement, Utica will provide transactional workers compensation premium and loss information from their source systems to ISO. ISO?s Workers Compensation Information Services will compile the summary reports required by regulators and submit them on the company?s behalf to workers compensation rating bureaus and statistical agents in the states where the carrier writes workers compensation business.

Response Insurance Announces J.C. Flowers & Co. Investment - Meriden CT - May 9, 2007 - Direct Response Corporation ("DRC"), the holding company for the Response Insurance Group ("the Company"), announced today that it has signed an agreement under which an affiliate of J.C. Flowers & Co. LLC ("JCF") will become the largest investor in DRC. The transaction is subject to regulatory approval. --- Under terms of the agreement, Metalmark Capital LLC, on behalf of Morgan Stanley Capital Partners, III LP, and other related investors, will sell just under half of its shares to JCF. Morgan Stanley Capital Partners III and its related investors will retain a sizable portion of their shares. Specific terms of the transaction have not been disclosed.

BlueCross BlueShield of South Carolina Employees Achieve Impressive Quit Rates with the Free & Clear® Quit For Life? Program - Seattle ? May 8, 2007 - BlueCross BlueShield of South Carolina is celebrating its one-year anniversary with the Free & Clear Quit For Life Program. BlueCross BlueShield launched the Quit For Life Program in April of 2006 to its 12,000 employees, with stellar results. --- Free & Clear is an award-winning program based on 20 years of research and clinical experience. The program provides one-on-one telephone-based treatment sessions with a professional Free & Clear Quit Coach?, as well as the latest medications (e.g. patch, gum, lozenges, and Chantix). Once enrolled, participants have support available even if they quit and start using tobacco again during the treatment program.

PIANH supports Insurance Department proposals - CONCORD, N.H.?The Professional Insurance Agents of New Hampshire Inc. recently said it supports two Insurance Department proposals affecting insurance producers. The association sent comments this week and offered suggestions on each proposal (Chapter Ins. 4300 on the fiduciary obligations of producers and Chapter Ins. 1300 on agents, brokers and adjusters) for consideration prior to finalization.

Unum expands absence management services - CHATTANOOGA, Tenn. (May 8, 2007) ? Unum (NYSE: UNM) is expanding its industry-leading absence management services to include all employer-authorized leave such as vacation and sick leave, creating a comprehensive tracking and reporting system. -- Designed specifically to meet the needs of larger employers, this service helps staffing departments keep more accurate watch on the revolving door of its workforce. It records scheduled and unscheduled absences from the half-day needed for a doctor?s appointment, to the week requested for PTO, to the extended absence for convalescence from surgery.

MovingInsurance.com Partners With Unirisc To Provide the Moving and Relocation Industries With Online Insurance Capabilities - MONTCLAIR, N.J., May 9 /PRNewswire/ -- Moving Insurance, LLC, the industry's leading online moving insurance provider today announced an agreement with Unirisc, one of the largest and most respected providers of insurance products and claims services. -- The customer-friendly technology utilized by Moving Insurance, LLC. on its http://www.MovingInsurance.com website, gives users year round, 24/7 access to the online insurance, claims and customer service products. Extensive information regarding various coverage plans for domestic and international relocations, as well as moving tips and guides can also be researched on MovingInsurance.com.

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