Client Retention Over 98%! AlwaysCareSM wants outstanding agents to sell AlwaysDentalSM and AlwaysVisionSM group policies. Expanding to 49 states. Excellent agent and customer service with toll-free telephone access 6 days a week. Excellent commissions paid. Dental network 54,000+. (Allows any dentist.) Vision network 20,000+. Voluntary plans and employer paid plans available. Offered through National Guardian Life Insurance Company* [AM Best A- (Excellent) rating], administered by AlwaysCare Benefits, Inc., a Starmount Life Insurance company. Call Agent Services, 888-729-5433, option 5. Fax 888-729-7627. E-mail info@StarmountLife.com (Include your name, address and telephone number.) For agent use only. http://www.alwayscarebenfits.com/ *Not affiliated with The Guardian Life Insurance Company of America, a/k/a The Guardian or Guardian Life. IN 4/06 Daily Quote: “With the fearful strain that is on me night and day, if I did not laugh I should die." -- Abraham Lincoln
1. Insurers must act on climate change, says Lloyd's LONDON, June 5 (Reuters) - Insurers must do more to understand the implications of climate change on their businesses or risk going out of business, Lloyd's of London [LOL.UL] said in a report released on Monday. Recent scientific evidence on the buildup of greenhouse gases has shown that some degree of climate change is now inevitable and could actually happen faster than was previously expected, the report said. "The insurance industry must start actively adapting in response to greenhouse gas trends if it is to survive," the report says. Lloyd's, the world's leading specialist insurance market, said the insurance industry had been slow to analyse how the increasing weight of scientific evidence into climate change would affect its business. "We believe that it is time for the insurance industry to take a more leading role in understanding and managing the impact of climate change," the report concludes. Insurers stand in the front line of climate change in terms of footing the economic bill of natural disasters. Last year was the industry's costliest ever for catastrophes, with overall claims of $83 billion, of which $65 billion came from hurricanes Katrina, Rita and Wilma which hit the United States. The report raises the prospect that insurers may face even higher claims from an increasing number of natural disasters in years to come, caused by climate change. Lloyd's warns companies to take action to help protect themselves or face oblivion. LOOKING BACKWARDS, NOT FORWARDS The insurance industry still bases too much of its decision-making on historical weather patterns rather than what is likely to happen in the future, the report said.For example, insurers could take account more in their pricing of the generally accurate predictions made by a number of forecasters into the number and severity of Atlantic hurricanes that are likely to occur each year, the report said. Lloyd's echoed predictions from industry rivals such as Swiss Re (RUKN.VX:) that the number of severe hurricanes each year is likely to remain high in the coming years and that insurers should therefore raise their prices to reflect that. The report said it was important for insurers to make a profit from their underwriting activities, because not only are they facing higher disaster-related claims, but also their investment income might be cut as climate change hits the business of firms in which insurers invest. Insurers could use their influence as some of the world's biggest investors to make companies in which they have stakes act more responsibly by encouraging "'climate proof' behaviour from the boards of large corporations", the report says. Lloyd's also raised the question of whether most weather-related risks would remain insurable in the future. It said it currently saw the vast majority as insurable, providing insurers are free to set the price of cover. But if regulators were to try to limit the prices insurers charge to take disaster risks or if climate change were to occur faster than expected, then Lloyd's might change its view, the report said. Insurers may increasingly look to either restrict or even withdraw cover for flood risk in some areas, as the cost of flood claims rises, the report said. "Solutions must be found now to reverse the trend towards further increasing population concentrations in affected areas, especially coastal areas," the report concluded. © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. US Medicare official says Humana data not secured WASHINGTON, June 5 (Reuters) - About 17,000 beneficiaries enrolled in health care plans with Humana Inc. (HUM.N:) are at risk from unsecured computer data containing their personal information, Medicare's top official said on Monday. A computer file containing the data was not maintained in secure way, the agency said, citing a finding by the U.S. Health and Human Services (HHS) inspector general. Separately, applications containing personal information from about 250 people applying for Humana plans were stolen from an insurance agent's car in Minnesota last month. Mark McClellan, administrator of the federal Centers for Medicare and Medicaid, said in a statement that actions were being taken to protect those older and disabled patients in the Humana incidents. Stolen personal data can lead to credit card fraud and other identity theft. Humana must contact affected beneficiaries and give them free access to credit monitoring services for one year, McClellan said. Humana must also submit a plan to make sure similar violations do not reoccur. The insurance company's lapse violates Medicare's privacy and information security policies, and additional enforcement action may be taken, McClellan said. "With strong requirements in place, it is unacceptable when personal information on any beneficiary is put at risk," he said. Representatives for Humana could not be immediately reached for comment. Senate Finance Committee Chairman Charles Grassley, whose committee oversees the nation's insurance program, urged HHS Secretary Mike Leavitt to improve Medicare's database security. "These systems contain highly sensitive financial, medical and personal information. Medicare beneficiaries should have the utmost confidence that the information they provide to Medicare is safeguarded," the Iowa Republican said in a statement on Friday. © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Catastrophe Models and Capital Requirements Signal Changes for Insurers and Reinsurers, Says GE Insurance Solutions EXPOSURE Article MUNICH, Germany--(BUSINESS WIRE)--June 5, 2006--Insurers and reinsurers are facing major changes this year to catastrophe models and a recalibration of rating agency capital requirements, which "will have dramatic implications on insurers and reinsurers that write business in catastrophe-prone areas," according to an article in the latest issue of EXPOSURE, which is published by GE Insurance Solutions. The likely effect of these changes is that insurers and reinsurers will need more capital or will have to reduce their peak-zone exposures, according to the article authored by Jonathan Isherwood, Global Product Strategy Leader, GE Insurance Solutions. Isherwood predicted that return on capital would fall. Further, he added, reinsurers and insurers may have to increase pricing levels "for key-zone catastrophe risks in order to obtain similar return on equity that they were able to earn before the changes." In addition, Isherwood speculated that companies may seek to improve capital efficiency "by balancing and/or diversifying their portfolios away from peak-zone capital intense areas, which could cause over-capacity -- and competition -- in these desired zones." Monoline catastrophe writers or companies that have a heavy concentration of catastrophe business "will be disadvantaged in this new environment," he affirmed. To read the entire article and other EXPOSURE articles, visit http://www.geinsurancesolutions.com/erccorporate/inst/pb/ex/index.htm. (See "Model Changes Will Have Major Industry Implications".) Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. Venture Programs Adds New Community Banking Market Through OneBeacon West Chester, Pa.–June 5, 2006–Venture Insurance Programs ( www.ventureprograms.com ), a national program administrator and leader in the design and underwriting of select industry-focused insurance packages, today announced that its Venture Banking program now offers a new community banking market through OneBeacon Insurance Group. OneBeacon Insurance Group is rated “A” (Excellent) XIV by A.M. Best Co and, through its subsidiaries and affiliates, is licensed in all states. Through this partnership, Venture will provide access to OneBeacon’s custom suite of banking and financial institution insurance products featuring management and professional liability, cyber liability, financial institution bond, and property and casualty coverages. "The Venture Banking program is our fastest growing, all-lines package, and the addition of OneBeacon gives us greater flexibility in writing community banking business," said George Tsui, CPCU, ARM, ARe, Venture’s executive vice president of underwriting. www.venturebrokerage.com www.onebeacon.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. Purchasing Power Rebrands Unique Voluntary Benefit Purchasing Power – The Every Day Benefit offers employees the opportunity to purchase brand name computers through payroll deduction ATLANTA, Ga., (June 5, 2006) – Purchasing Power today announces a new marketing and branding strategy with the launch of Purchasing Power – The everyday benefit. As part of the strategic plan to distinctly identify this unique voluntary employee benefit, Purchasing Power – The every day benefit will now be the sole brand name used. The company has evolved from a fledgling enterprise in 2002 to become the provider of one of today’s most unique and attractive voluntary employee benefits. Purchasing Power – The every day benefit provides employers the opportunity to offer their employees convenient, affordable and easy access to brand name personal computers. This benefit is valuable to employers because it bridges the digital divide, presenting their employees with affordable options to purchase home computers. With the creation of computer packages employees can purchase new name brand components with a simple phone call. These packages include everything the employee needs to join the technology revolution: CPU, keyboard, Internet access, mouse, monitor, all-in-one printer, fax and scanner, surge protector, full warranty and computer cables. Many employers offer online access to employee benefits portals, making Internet and email access from home an important benefit for employees. Employees appreciate the convenience of preconfigured computer packages that eliminate the apprehension of trying to select all of the components themselves. The purchases are paid through convenient payroll deductions, with no credit checks and no interest. Purchasing Power’s expanded commitment to sales and marketing in the voluntary employee benefit producer and employer communities is exemplified by the introduction of a greatly simplified process for employers to adopt and employees to purchase. To support this new marketing and Purchasing Power Rebrands Unique Voluntary Benefit, continued Contact: Kelli McKinney, 404-509-5144, kmckinney@purchasingpower.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
6. Devilish Sales Author Takes On Cold Calling Frank J. Rumbauskas Jr., marketing consultant and sales coach, launches his new book campaign on Tuesday June 6th for a 24-hour promotion. The book, Never Cold Call Again: Achieve Sales Greatness Without Cold Calling, is now available through any bookstore, but if purchased through Rumbauskas' website at www.FranksOneTimeOffer.com on Tuesday, June 6th, it also includes numerous bonus gifts consisting of audio programs, e-books, interviews, and other free gifts related to sales and marketing. Phoenix, AZ (PRWEB) June 5, 2006 -- When sales trainer and marketing consultant Frank Rumbauskas chose June 6 as the launch date for his new book, Never Cold Call Again: Achieve Sales Greatness Without Cold Calling (Wiley, 2006), he didn't realize he was choosing 6/6/06 until someone else pointed it out to him. "At first I was a bit disturbed, then I realized that since my critics already think I'm the devil, I might as well let them have the satisfaction for once," says Rumbauskas, known in the sales world as the most vocal critic of the antiquated practice of cold calling. He now teaches salespeople how to become top producers without cold calling. The book is now available through any bookstore, but if it is purchased through Frank’s website at www.FranksOneTimeOffer.com on Tuesday, June 6th, it also includes numerous bonus gifts consisting of audio programs, e-books, interviews, and other free gifts related to sales and marketing. Since releasing his first book nearly three years ago, Cold Calling Is A Waste Of Time, Rumbauskas has developed a devotedly loyal following amongst salespeople and small business owners who are sick and tired of cold calling. And, at the same time, he has become hated by the old-school faction of the sales world who still believe that cold calling is the only honorable way for a salesperson to attain success. Rumbauskas says, "Let's face it -- cold calling is dead. It's a backwards way to try to sell in this exciting Information Age in which we now live. All of these dictator sales managers and old-school gurus who claim otherwise are either lying or just wrong. So, I thought I'd let them be right for once. They've already called me the devil, so what better date to launch my new book than 6/6/06?" Rumbauskas continues, “I went through several years of frustration and struggle because I was only taught to cold call. It took me a long time to figure out how to become a top performer in sales without cold calling, and I’m glad to share what I’ve learned with salespeople worldwide in Never Cold Call Again: Achieve Sales Greatness Without Cold Calling.” Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. American Wholesale Insurance Group Completes Second Group Benefits Acquisition This Quarter CHARLOTTE, N.C.--(BUSINESS WIRE)--June 5, 2006--American Wholesale Insurance Group (AmWINS), the nation's second largest wholesale insurance broker, announced today that it has acquired the Policy Administration Division (PA Division) of CBCA Administrators, Inc., of Fort Worth, Texas. The acquisition comes shortly after the April 24th acquisition of Dallas-based Web TPA, Inc., a leading third party administrator for self-funded employers and insurance companies. The PA Division will become part of National Employee Benefit Companies (NEBCO), an AmWINS company. With the addition of the PA Division's significant customer base, NEBCO is now among the largest association insurance administrators in the United States. The integration of the PA Division into the AmWINS family is a continuation of our plan to further establish our Group Benefits Division," said Steven DeCarlo, AmWINS President & CEO. "Our benefit broker customers will benefit enormously from the unique mix of expertise we are acquiring, including sales and marketing, policy administration and underwriting." "Joining AmWINS means joining one of the finest group benefit brokerage and administration companies in the US," said Duane Beckner, Senior Vice President. "We believe our core competencies dovetail nicely with what AmWINS and NEBCO already offer in the marketplace." "The one-two punch of the PA Division acquisition on the heels of Web TPA is extremely exciting for our team," said Samuel Fleet, President of AmWINS Group Benefits. "This means both a significant expansion of our capabilities and services for our customers and an increase in the number of insurance carriers we service." AmWINS ( www.amwins.com ) is a wholesale insurance organization dedicated to serving retail agents throughout the United States by providing property and casualty, group life and health, and program administration capabilities. The company handles total premium placements of over $2.4 billion ranking as the second largest wholesale insurance broker in the United States by Business Insurance magazine. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. ROCKWOOD OFFERS BIND ON-LINE FOR INSURANCE AGENTS E&O Rockwood Programs has been recognized as a premier provider of professional liability coverage for Life Insurance Agents and Brokers since 1998. The company has made a significant investment in automation and technological innovation. As a result of this investment, Rockwood has announced the introduction of Internet-based quoting and binding capabilities through its web-site www.rockwoodinsuance.com. “Over the past eight years we have pioneered numerous techniques, such as self-rating applications, six-month policy terms, and online risk management tools” explained Glenn Clark, President of Rockwood Programs. “We are pleased to continue this tradition by announcing the implementation of our on-line binding process. Rockwood’s Internet-based rating capabilities have been expanded to allow individuals to complete all phases of the E&O insurance purchasing procedure – from initial application to final policy issuance – through our online rating system. This entire process can be accomplished in less than 24 hours”. Rockwood’s new process includes; a simplified application process, instant quoting, online binding via credit card, 24 hour policy delivery, and a fast-track renewal process. Minimum premiums start at $675, with a wide range of liability limit and retention options available. Policyholders are given exclusive access to a broad array of loss control tools available via the Internet. The Rockwood Life, Accident & Health Agents E&O product is underwritten by Houston Casualty Company (A+ rated by AM Best), an affiliate of HCC Holdings, Inc. Agents interested in learning more can visit the Rockwood website at www.rockwoodinsurance.com For additional information, contact Al Holden – Program Manager - at (302) 765-6045. E-mail address: thomas.caputo@rockwoodinsurance.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. INSURANCE NEWSLINK Articles Recent articles added to INSURANCE NEWSLINK, the worldwide, strategic concise intelligence database of over 27,000 articles including interviews, uniquely analysed by company, market, research, regulatory, and IT topics. Please click here for a content overview and a 15-day free review. THE COST EFFECTIVE WAY TO STAY AHEAD
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. BANK INSURANCE NEWS IN BRIEF - JUNE 5, 2006 TODAY'S BANK INSURANCE NEWS IN BRIEF" is provided each week courtesy of Michael White Associates @ www.bankinsurance.com.
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
11. Allstate Reaches Settlement in Texas Insurance Scoring Lawsuit NORTHBROOK, Ill.--(BUSINESS WIRE)--June 2, 2006--Allstate Insurance Co. and plaintiffs in the case of Jose DeHoyos, et. al. vs. Allstate Insurance Co., et. al. have reached a settlement agreement, which was preliminarily approved today by United States District Judge Fred Biery. The case, filed in 2001 in U.S. District Court, Western District of Texas San Antonio division, was brought by seven individual Allstate customers seeking to represent a nationwide class of African-American and Hispanic individuals who were issued automobile and/or homeowners insurance policies by Allstate-affiliated companies. The plaintiffs claim that they were discriminated against in violation of federal civil rights laws, including the Fair Housing Act, by allegedly being charged higher premiums based on Allstate's use of information from their credit reports. The court has made no rulings on the merits of any of plaintiff's claims, and Allstate denies that it in any way discriminates against minorities in the pricing of insurance policies. "We are very pleased with this settlement," said Michael Trevino, a spokesperson for Allstate Insurance Company. "During the discovery phase of this case, the parties undertook court ordered settlement negotiations. Although confident in our position, Allstate was presented with an opportunity to resolve this case on terms that we consider to be fair and appropriate. By achieving this settlement Allstate is able to avoid the burden and expense of continued litigation and is therefore able to continue to focus its efforts on providing insurance policies to consumers -- including minority consumers -- at competitive prices. This is good for Allstate and its customers. Ultimately, the court must give final approval to the settlement, including the benefits being conferred to individual class members, which we believe will be viewed as fair and reasonable given their breadth and value." Allstate will take the following actions under the terms of the settlement:
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. NAIC - collateral reinsurance issue Hurricane season began June 1, and state insurance regulators are converging on Washington, D.C., beginning June 9, for serious discussions about rule changes that would threaten insurers’ ability to pay hurricane-related, as well as other claims, and thus harm consumers all over the country who rely on insurance should they need it for recovery from storm damage and other losses. The global insurance/reinsurance market paid record catastrophe losses of nearly $60 billion, (some $40 billion for Katrina alone) in 2005. Following the hurricanes of 2005, more than $21 billion of new reinsurance capital, largely from Bermuda, quickly flowed into the market. Offshore reinsurers are able to move capital into the market quickly because they are not as heavily regulated as U.S.-based insurers and reinsurers. However, in lieu of having to abide by all U.S. insurance regulation, they must post collateral for the reinsurance contracts they write in the U.S. Posting collateral ensures that the U.S. insurers who rely on this vital source of funding, will have that money available to pay claims. The National Association of Insurance Commissioners (NAIC) has been receiving pressure for several years from foreign reinsurers who want to do away with these collateral requirements. Some regulators have already indicated that they want a change made, even though they have not stated the reasoning for jeopardizing the insurance health of consumers and companies. A group of regulators at the NAIC (the Reinsurance Task Force) has been “directed to develop alternatives to the current reinsurance regulatory framework, including the use of collateral within the U.S. and abroad,” but the question is why? Nothing is broken, and the collateral posting requirement is one of the precious few things about state regulation that actually works. The NAIC meetings are “public,” but since they draw little attention from those outside the insurance industry, this threat to U.S. insurance consumers is proceeding well under the radar of public scrutiny. The Reinsurance Task Force will meet 2-4 p.m. Saturday, June 10, 2006 at the Marriott Wardman Park, 2660 Woodley Rd, NW, Washington, D.C - Phone: 202-328-2000. - More information about the NAIC meeting in Washington is available at the NAIC website: http://www.naic.org/meetings_home.htm Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. AAIS OFFERS ACCESS TO 'RISKMETER' ONLINE MAPPING SERVICE Wheaton, Illinois, June 1, 2006--The American Association of Insurance Services (AAIS) is offering its member insurers an opportunity for free trial access to online risk mapping applications provided at "RiskMeter.com," a service of CDS Business Mapping, Boston, Mass. AAIS is a national insurance advisory organization that develops policy forms and rating information used by more than 600 property/casualty companies throughout the U.S. Starting in June, carriers that use the AAISdirect Internet service can access RiskMeter's broad range of geographic information related to hazards at a location. By entering an address, RiskMeter users can quickly learn a location's distance from coastlines, fire stations, fault lines, and flood zones, as well as its exposure to hail, tornadoes, wildfires, crime, and other hazards. RiskMeter also provides an aggregate mapping feature that allow carriers to view and identify concentrations of risk as new business is reviewed. This feature will indicate how many policies have been written in an area and their total insured values, plus other statistics by radius or region to help make strategic decisions. For information on affiliating with AAIS for use of any of its insurance line programs, and for information on signing up for AAISdirect, contact Rick Maka, director of marketing, at rickm@AAISonline.com. www.AAISonline.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. Hurricane How-Tos Graphic From USAA Available on Business Wire's Web Site and AP PhotoExpress SAN ANTONIO--(BUSINESS WIRE)--June 1, 2006--Prepare for the 2006 hurricane season courtesy of USAA. A graphic with hurricane how-tos and a 24-hour evacuation checklist is available on Business Wire's web site and AP PhotoExpress. The graphic includes tips for what to do now and what to do before a storm hits. USAA members can call 800-531-8222 with questions about their insurance policies or to file a claim. www.usaa.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. PIANY proposes overhaul of state’s workers’ comp system GLENMONT, N.Y.—New York needs to increase its benefit levels for injured workers payable by the state’s workers’ compensation system, and should try to deliver benefits in a less adversarial process, according to the Professional Insurance Agents of New York State Inc. The association made its recommendations in a policy statement issued recently after a year-long study of the system. “New York should look at a number of areas to preserve workers’ comp as a true ‘no-fault’ system providing workers’ sole remedy for employment-related injury or illness. We should strive to preserve and enhance worker benefits, prevent work-related disability and reduce inefficiency and fraud,” said J. Carlos “Shawn” Viaña, PIANY president. The full report can be viewed at www.piaonline.org/GIA/NY/position_workerscomp.pdf. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. The Commerce Group, Inc. Enhances Catastrophe Reinsurance Program WEBSTER, Mass.--(BUSINESS WIRE)--June 5, 2006--The Commerce Group, Inc. announced today that it has enhanced the catastrophe reinsurance program for its insurance subsidiaries for the contract year effective July 1, 2006 through June 30, 2007. This newly enhanced catastrophe reinsurance program will provide substantially greater protection for more severe loss scenarios than the program expiring at the end of this June. Participating in this new program with Commerce Group are numerous top tier reinsurance companies, the largest of which are Berkshire Hathaway's National Indemnity Company, Swiss Reinsurance America Corporation, and Transatlantic Reinsurance Company, which are providing support for more than 55% of the reinsurance program. "In light of increased focus on the potential for hurricane activity in the Northeast, we believed it was prudent to enhance our reinsurance coverage in the event of a significant catastrophic event," said Gerald Fels, Executive Vice President. "We owe a duty of stewardship to our policyholders, agents, and shareholders, and this represents the most comprehensive and reliable catastrophe reinsurance program we have ever purchased." The catastrophe program provides for reinsurance recovery of a maximum of $493 million in the event of a $600 million or greater occurrence, including FAIR Plan losses. This represents a 35% increase in total coverage for a single event, coupled with an approximate 90% increase in total coverage for two events, over the previous reinsurance program which utilized a quota share agreement. Two prominent catastrophe modeling companies estimated Commerce Group's average 100 and 250 year hurricane losses at $317 million and $583 million, respectively. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. United Concordia Launches New Voluntary Dental Insurance Product, Concordia Access HARRISBURG, Pa., June 5 /PRNewswire/ -- In response to growing demand for more affordable dental plans, United Concordia Companies, Inc., one of America's largest dental insurers, has announced the national roll-out of Concordia Access. Concordia Access successfully combines the key features of traditional dental insurance with discount plan savings, to create a unique and affordable voluntary solution. www.unitedconcordia.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. Breakthrough in Underwriting Offers Significant Savings for Breast Cancer Survivors NEWARK, N.J.--(BUSINESS WIRE)--June 5, 2006--In response to medical advances, Prudential Financial (NYSE:PRU) announced today new individual life insurance underwriting guidelines that may offer significant reductions in premiums for best-case breast cancer survivors. "Our underwriting guidelines now make life insurance more readily available for some women who have been diagnosed with and treated for breast cancer and offer them the opportunity to qualify for significantly lower premiums," said Mike McFarland, vice president, Individual Life Insurance Underwriting at Prudential. www.prudential.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Argonaut Group's Grocers Insurance Announces National Convenience Store Program PORTLAND, Ore.--(BUSINESS WIRE)--June 5, 2006--Grocers Insurance, a member of the Select Markets segment of Argonaut Group, Inc. (NASDAQ:AGII), announced today that it is expanding its line of retail grocery products and services by adding a new program tailored to the needs of the convenience store marketplace. Grocers Insurance is the leading provider of property, liability, and workers compensation insurance to independent retail grocers nationwide. The new convenience store program will be offered in all states currently served by Grocers Insurance through its existing appointed agency base. www.argonautgroup.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 20. INSURANCE NEWSCAST "Pictures Of The Day" -- Sponsored By:
21. Actuate Joins IBM's ISV Advantage to Help Customers in the Financial Services Industry SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--June 5, 2006--Actuate Corporation (NASDAQ:ACTU), the world leader in Enterprise Reporting and Performance Management Applications that empower 100% of users to achieve breakthrough corporate performance and an IBM Financial Services Cluster Partner, today announced that it has joined IBM's "ISV Advantage for Industries" Initiative, a program designed to provide independent software vendors (ISVs) with technical and marketing support to help meet the specific needs of the financial services industry. Customers are seeking industry-specific solutions that help them better integrate processes and applications internally and externally and allow them to quickly respond to changing market opportunities. As part of the ISV advantage initiative, Actuate and IBM will commit to work together on joint marketing, collaborative selling, implementation services, software integration and performance optimization. IBM will incorporate Actuate solutions in their financial services solution maps and promote Actuate as the leading Enterprise Reporting solution in the financial services sector. The expanded relationship will deliver next generation online reporting and analysis for consistent multi-channel customer experience and unified customer insight to both IBM's and Actuate's financial services customers. www.actuate.com/IBM.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. ISO’S A-PLUS EXTENDS EARLY ADOPTERS PROGRAM FOR COMMERCIAL LINES LOSS HISTORY INFORMATION FOR ITS DATABASE JERSEY CITY, N.J., June 5 — ISO’s Automobile-Property Loss Underwriting Service (A-PLUS™), the property/casualty insurance industry’s only loss history database for commercial lines underwriters, has extended its early adopters program through the end of 2006. Carriers that sign up for the program and contribute commercial lines loss data to the A-PLUS database are eligible for special pricing through 2007 and beyond. A-PLUS is already an industry leader for personal lines loss histories to underwriters. Over 1,350 companies provide personal lines property data, and more than 900 companies provide auto claims information to these systems. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Ebix Board Authorizes Share Repurchase Worth $1 Million ATLANTA--(BUSINESS WIRE)--June 5, 2006--Ebix, Inc. (NASDAQ: EBIX), a leading international developer and supplier of software and e-commerce solutions to the insurance industry, today announced that its Board of Directors has authorized the repurchase of $1 million of its outstanding shares of common stock. www.ebix.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Pacific Life Offers Innovative Retirement Solutions NEWPORT BEACH, Calif.--(BUSINESS WIRE)--June 2, 2006--Pacific Life Insurance Company today launched Destination Independence(SM) -- a campaign designed to promote retirement security planning for the estimated 77 million baby boomers in the United States. Destination Independence was developed to help both retirees and those planning for retirement on how to combat the effects of rising healthcare costs, inflation, and market uncertainty for their investments. Americans can only rely on their pensions and Social Security for 56 percent of their retirement income, according to the Social Security Administration.(1) Many have not saved nearly enough to cover the 44 percent shortfall for what may be 25-30 years without working. Without proper planning, the end result could be a reduction in lifestyle, or worse, running out of money too soon. www.PacificLife.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. Hermitage Insurance Company Selects ISO Rating Service Nashua, N.H., June 5 — ISO Insurance Technology Solutions today announced that Hermitage Insurance Company will implement the ISO Rating Service™ to handle its core rating processes.In addition to streamlining rate management and reducing rating maintenance and insurance program development costs, the component-based ISO Rating Service will enable Hermitage to develop and integrate a custom-built quoting front-end without having to replace its existing policy management system. www.ISO-ITS.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. NewLink Launches New Vista™ Industry Frameworks, Models and Methodologies for Insurance, Wealth Management and Banking. NewLink Group, a consulting company, focused on the financial industry, announces its new release of affordable Vista™ knowledge products. Vista™ is a practical suite of industry frameworks, models and methodologies for the insurance, wealth management and banking industries. http://newlinkgroup.com/services_3.cfm Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. ProMutual Group Announces Rate Increase for Physicians and Surgeons in Massachusetts for 2006 BOSTON--(BUSINESS WIRE)--June 2, 2006--Effective July 1, 2006, ProMutual Group will increase rates for its Physician and Surgeon Professional Liability policies in Massachusetts. Insured healthcare providers will see an increase in base rates of five percent. An increase such as this is necessary at this time in order for ProMutual Group to continue to protect the healthcare providers we insure and to maintain the company's long-term financial strength in the face of rising claim costs. The rates ProMutual Group charges reflect expected future legal defense and claim costs. Although ProMutual Group's strong financial standing and capital base remain stable, it is necessary that rate levels must be adequate to match anticipated costs. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. NAIC AND HONG KONG SIGN MEMORANDUM OF UNDERSTANDING KANSAS CITY, MO (June 2, 2006) – The National Association of Insurance Commissioners (NAIC) formally signed a Memorandum of Understanding (MOU) with the Office of the Commissioner of Insurance of Hong Kong (Hong Kong OCI) during the International Association of Insurance Supervisors’ (IAIS) Triennial Meeting this week in Ottawa, Canada. NAIC President and IAIS Chair Alessandro Iuppa was on hand to sign the MOU designed to provide the framework for mutual assistance through greater dialogue and information exchange between the two regulatory bodies. www.naic.org/press_home.htm Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 29. Whitehill Technologies wins new customer, gets high marks from independent analyst BOSTON, MA - June 4, 2006 - Whitehill Technologies, Inc., a leading provider of document composition, data transformation and business process integration solutions, today announced that Industrial Alliance has selected Whitehill to improve communications with customers and save on production costs. Industrial Alliance provides life & health insurance and financial services to more than two million Canadians. The company purchased Whitehill software to assemble and produce semi-annual statements for its customers. Prior to using Whitehill, clients would receive two or more separate statements, depending on the number of policies or funds in their portfolio. Information for each of these statements was stored in a different legacy system, with no way to consolidate the data. www.inalco.com www.whitehilltech.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 30. A Consumer’s Disability Insurance Guide ElderCare Publishing Company is pleased to announce the availability of the new e-book ‘A Consumer’s Disability Insurance Guide’, authored by Allan Checkoway, a nationally recognized disability expert. Allan developed his new e-book to help the multitude of disabled Americans collect the millions of dollars in disability benefits to which they are entitled. The new ‘Consumer’s Disability Insurance Guide’ e-book is now available on-line. For more information, go to www.eldercaresurvival.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 31. New and Important Issue of Zalma's Insurance Fraud Letter June 1, 2006, Culver City, California, ClaimSchool announces the publication of a new and important issue of Zalma's Insurance Fraud Letter, available at http://www.zalma.com. In this issue insurance coverage lawyer and author Barry Zalma writes about a California Lawyer Disbarred for joining in fraud, about a truly stupid decision by a California court, fraud in the UK , why preventing fraud can be dangerous & expensive, the danger insurers face when they work to prevent fraud, and that Vermont finally passes an insurance fraud law. The June 1 issue of ZIFL also has the regular columns listing convictions for insurance fraud across the United States. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
The e-mail address subscribed to INSURANCE NEWSCAST is insurancenewscast-2027-log@pipe.insuranceletter.com. |
