INSURANCE NEWSCAST "Headlines Only Edition" for: Friday, 05/18/07

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

INSURANCE NEWSCAST "Headlines Only Edition" for: Friday, 05/18/07

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

Mirror, Mirror on the Wall: An International Update on the Comparative Performance of American Health Care - (InsuranceBroadcasting.com received a substantial number of requests for the link to the report featured in the 05/16/07 INSURANCE NEWSCAST. The link below will take you to the web page where you can download the entire report in PDF format.) May 15, 2007 | Volume 59 - Authors:Karen Davis, Ph.D., Cathy - http://www.commonwealthfund.org/publications/publications_show.htm?doc_id=482678

7.5% Payroll Tax Will Devastate California's Small Business Economy - SACRAMENTO, Calif.--(BUSINESS WIRE)--Legislative leaders announced today a 7.5% employer mandate, well above the 4% payroll tax proposed by the Governor that will lead to nothing more than businesses closing and job loss. None of the health care reform proposals guarantee that the payroll tax will not increase each year to keep pace with rising health care costs.

Warren Buffett boosts health care sector stake - By Jonathan Stempel - NEW YORK, May 16 (Reuters) - Berkshire Hathaway Inc. (BRKa.N: Quote, Profile, Research(BRKb.N: Quote, Profile, Research, Buffett's insurance and investment company, said it nearly doubled its stake in Johnson & Johnson (JNJ.N: Quote, Profile, Research and bought more shares of French drugmaker Sanofi-Aventis SA (SASY.PA: Quote, Profile, Research in the first quarter. It also disclosed an investment in WellPoint Inc. (WLP.N: Quote, Profile, Research, the largest U.S. health insurer by membership.

RAA Says Milliman Studies Show That A Federal Cat Fund Based On Florida Model Is Flawed - WASHINGTON, DC (May 16, 2007)) ? Franklin W. Nutter, president of the Reinsurance Association of America (RAA), today reacted to separate studies released by Milliman, Inc., one of the world?s premier actuarial and consulting firms, on Florida catastrophe risk and proposed federal catastrophe fund legislation. ?Taken together,? he said, ?these studies make it abundantly clear that legislation for a federal catastrophe fund based on Florida's government-centric approach to catastrophe risk insurance is seriously flawed.?

Lemac announces new markets for Catastrophe Insurance on Major Damage: Earthquake, Wind, Flood & Terrorism Risks - Los Angeles, CA? Lemac & Associates has added new markets for catastrophe insurance on major damage earthquake, wind, flood and terrorism risk exposures, according to William Newton, president. --- Lemac is a one-stop resource offering an extensive line of commercial insurance products including liability, workers? compensation, property, earthquake/DIC, D&O, professional liability, environmental and small accounts through its general agency division.

TOWERGROUP STUDY OF INSURERS AND I.T. VENDORS FINDS INDUSTRY-WIDE STANDARDS ARE NEEDED TO REALIZE TRUE POTENTIAL OF SOA - NEEDHAM, MA, May 16, 2007 ? While the paradigm of service-oriented architecture (SOA) holds tremendous promise for the insurance marketplace, a new study by TowerGroup finds that both carriers and vendors must be more aggressive in establishing enterprise governance in adopting both process and data standards, and in supporting the testing and management of service oriented solutions in order for SOA to reach its touted potential.

David Meerman Scott to Present the "New Rules of Marketing and Public Relations" at HRmarketer.com Webinar - CAPITOLA, CA ? May ##, 2007 -- Marketing and public relations professionals in the human resources industry should mark June 14 on their calendars, when HRmarketer.com hosts a free webinar featuring online marketing guru David Meerman Scott - To sign up for the free event, visit HRmarketer.com at http://www.hrmarketer.com/MarketingPRWebinar/

ING China insurance venture eyes new local markets - Thu May 17, 2007 6:33AM EDT By Langi Chiang - BEIJING, May 17 (Reuters) - Dutch financial group ING's (ING.AS: Quote, Profile, Research (ING.N: Quote, Profile, Research insurance joint venture in China aims to sell a wider array of products such as medical policies as it eyes new branches in the world's fastest-growing major insurance market. - ING Capital Life Insurance Co. Ltd. earns most of its revenues from selling life insurance policies, but would soon chase fresh revenue streams, said its chief executive Rex Tung.

Rubicon Financial Incorporated Announces Acquisition of Its Second Financial Services Subsidiary - IRVINE, Calif.--(BUSINESS WIRE)--Rubicon Financial Incorporated (OTCBB: RBCF) today announced that on May 11, 2007 it closed on the acquisition of Rubicon Real Estate and Mortgages, Inc. (?RRE&M?), RBCF?s second financial service company acquisition. - RRE&M provides professional assistance in the fields of residential and commercial real estate sales and mortgage loans in California. Mr. Joel Newman is the President of RRE&M and offers 26 years of experience in the real estate field. Further, Mr. Newman has been recognized by RE/MAX as one of the top 1% of real estate brokers nationwide.

RMS Performs Risk Analysis for Travelers Indemnity Company's Northeast US Hurricane Risk Securitization - NEWARK, Calif., May 16 /PRNewswire/ -- Risk Management Solutions (RMS), the world's leading provider of products and services for the management of catastrophe risk, performed the risk analysis for a securitization by the Travelers Indemnity Company, a wholly owned subsidiary of the Travelers Companies Inc (NYSE: TRV), of hurricane risk in the Northeast US. The analysis was based on a weighted index of industry losses by state and line of business, as reported by Property Claims Services (PCS).

Racicot Praises Insurance Industry For Quick Response To Greensburg Tornado - WASHINGTON, D.C., May 17, 2007 ? Gov. Marc Racicot, president of the American Insurance Association (AIA), today praised the insurance industry for its quick response in assessing the damage and paying policyholder claims in the aftermath of the devastating tornado that leveled the town of Greensburg, Kansas, on May 4. - According to the state Department of Insurance, adjusters have already distributed money and relief to an estimated 80 percent of those with claims. State officials have also called the response ?exemplary.?

Physicians Mutual Holds Small Business Health Insurance Crisis Summit - OMAHA, Neb., May 16 /PRNewswire/ -- The increasing cost of health insurance was listed as a major concern by small business owners who attended a recent small business health insurance summit, sponsored by Physicians Mutual. As a result, small employers say they are looking at alternative solutions, such as limited benefit plans or dropping employee coverage altogether.

National Health Partners Announces Completion of Its CARExpress ?Wrap-Around? Programs - HORSHAM, Pa.--(BUSINESS WIRE)--National Health Partners, Inc. (OTCBB:NHPR), a leading provider of unique discount healthcare membership programs, announced today that it has completed the development of its highly-anticipated CARExpress ?wrap-around? programs. The company expects to begin offering these innovative programs to the public within the next few days under the name ?CARExpress Plus.?

Aetna to Enable Faster Payments Between Members and Health Care Providers - HARTFORD, Conn.--(BUSINESS WIRE)--Aetna (NYSE:AET) is building on its transparency initiatives and existing payment solutions with new programs to facilitate members? payments for out-of-pocket costs to health care providers. The company is working with Medical Funding Services (MFS) to introduce expanded electronic options to simplify billing and reimbursement.

32 Free Health Care Clinics in Michigan Receive Financial Support from Blue Cross Blue Shield of Michigan and Blue Care Network - DETROIT, May 16 /PRNewswire-USNewswire/ -- Thirty-two free health care clinics that last year provided low- or no-cost health or dental care to more than 78,000 uninsured people will share $1 million in grants from Blue Cross Blue Shield of Michigan and Blue Care Network, enabling the clinics to continue to provide services and, in some cases serve more.

LifeMasters Offers Disease Management Services to Ford Motor Company Employees and United Auto Workers Members - SOUTH SAN FRANCISCO, Calif., May 17 /PRNewswire/ -- LifeMasters Supported SelfCare, Inc., a leading provider of disease management programs, announced today that it has signed an agreement to offer disease management services to eligible employees of Ford Motor Company and members of United Auto Workers (UAW). The services are provided through Healthy Highway, a program offered by Ford in conjunction with UAW, to motivate employees to develop and maintain healthy habits.

National Financial Partners Announces Exclusive Arrangement With ING to Provide Increased Life Insurance Capacity to Older Age Market - NEW YORK, May 16 /PRNewswire-FirstCall/ -- National Financial Partners Corp. (NYSE: NFP), a national network of independent financial advisors specializing in life insurance and wealth transfer, corporate and executive benefits, and financial planning and investment advisory services, today announced an exclusive arrangement with ING U.S. Financial Services to immediately provide access to increased life insurance capacity through a variety of hybrid premium financing programs for NFP's network of retail and wholesale firms.

White Mountains Re Group, Ltd. to Offer $250 Million of its Fixed/Floating Perpetual Non-Cumulative Preference Shares - HAMILTON, Bermuda, May 16 /PRNewswire-FirstCall/ -- White Mountains Insurance Group, Ltd. ("White Mountains") (NYSE: WTM) announced today that its wholly-owned subsidiary, White Mountains Re Group, Ltd. ("White Mountains Re"), intends to offer and sell 250,000 fixed/floating perpetual non-cumulative preference shares, liquidation preference $1,000 per share (the "Preference Shares"), in an offering exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act").

The Hanover Insurance Group CEO Enters into Pre-Arranged Stock Trading Plan - WORCESTER, Mass., May 16 /PRNewswire-FirstCall/ -- The Hanover Insurance Group, Inc. (NYSE: THG), today announced that the company's chief executive officer, Frederick H. Eppinger, has entered into a pre-arranged stock trading plan. The plan allows Eppinger to exercise up to 100,000 options to purchase The Hanover Insurance Group, Inc. common stock and to sell the shares upon the exercise of these options. The plan covers stock options granted in August 2003, when Eppinger joined the company.

Health Insurance Premium Relief Has Finally Hit New York and New Jersey - CINCINNATI--(BUSINESS WIRE)--Tom Quigley, President of Total Benefits Planning Agency, Inc., announces that his organization will be teaming up with Joe Graziano of AWA Group, LLC to cut health insurance rates for New York and New Jersey companies by as much as 40% providing the same benefits for the employees.

Preparation Is Vital for Independent Brokers and Agents - IBA West Announces Endorsement of Agility Recovery Solutions - Pleasanton, CA., May 16, 2007 ? The insurance industry understands better than most the profound impact a fire, windstorm or flood can have on a business. Given the significant number of businesses that experience a major interruption, it came to light that our members needed to be prepared. That?s why IBA West has endorsed Agility Recovery Solutions - the industry leader of turn-key recovery solutions.

Louisiana Court Strikes Pollution Exclusion Defense Relating To Underlying Ethylene Dichloride Exposure Suits Against ConocoPhillips - May 16, 2007 - A Louisiana judge has ruled that an insurance company cannot use the so-called 'absolute pollution exclusion' to deny its corporate policyholder coverage for claims alleging that bodily injury was caused by workplace exposure to a hazardous substance.

Progressive Casualty Insurance Introduces New Excess Deposit Bond For Community Banks - MAYFIELD VILLAGE, Ohio (May 16, 2007) ? Progressive Casualty Insurance Company has added a new product to its Financial Institution Program. The new coverage, Excess Deposit Bond, is designed to address bankers? need to protect customer deposits that exceed FDIC-insured levels, and is now available in most states. --- The new Excess Deposit Bond provides A+ rated insurance protection for depositors with sums above the FDIC limits, enabling banks to attract and retain large deposit accounts in an efficient and cost-effective manner.

PIA?s Licensing Compliance Central helps agents determine renewal dates - GLENMONT, N.Y.?To help member agents determine their license renewal deadlines and access information about the newest licensing changes and license transition rules, the Professional Insurance Agents of New York State, New Jersey, Connecticut and New Hampshire unveiled Licensing Compliance Central, an online service that can be found at www.pia.org/IRC/licensing/. Individual states are adopting new licensing statutes and regulations, which reflect the model licensing procedures of the National Association of Insurance Commissioners. These states now require individuals licensed as insurance producers to renew their licenses based on their date of birth or birth month.

World's Leading Companies Expect Top Business Risks to Persist, Intensify During Coming Years - JOHNSTON, R.I., May 17 /PRNewswire/ -- Financial executives at the world's largest companies expect the severity of their most prevalent business risks to remain constant or intensify through 2009, according to the "Managing Business Risk Through 2009 and Beyond" study commissioned by commercial and industrial property insurer FM Global.

FSO Knowledge Xchange Announces The Financial Services Outsourcing Annual Summit 2007 - NEW YORK, May 17 /PRNewswire/ -- After holding a series of highly successful topical events the last two years, FSO Knowledge Xchange will host their first Financial Services Outsourcing Annual Summit on June 7, 2007 in New York. The summit will focus on all aspects of outsourcing for financial services institutions (banking, insurance, and capital markets). Emerging trends, analysis, executive perspectives and enterprise case studies will be addressed in an interactive format via general sessions and panel discussions. Seasoned practitioners and academians from Brown Brothers Harriman, Carnegie Mellon University, Forrester Research, BlackRock, Wachovia, State Street Bank & Trust and Freddie Mac are among the many presenters. Leading solution providers will also be on hand with updates on their latest advances and innovations. For complete information please visit http://www.FSOkx.com. Attendance to the summit is complimentary for senior delegates from the financial services institutions.

Three Doctors Arrested in Unity Outpatient Surgery Center Scam for Performing Unnecessary Surgeries and Fraudulent Insurance Billing - SANTA ANA - The California Department of Insurance and the Orange County District Attorney's Office have arrested three doctors in the largest medical fraud prosecution in the nation. The doctors are the latest charged defendants in the Unity Outpatient Surgery Center (Unity) scheme and are accused of performing unnecessary surgical procedures and fraudulently billing over $30 million to medical insurance companies. The Franchise Tax Board and the Medical Board of California have provided substantial assistance in this investigation.

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