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1. Japan FSA to suspend Mitsui Sumitomo Ins -paper TOKYO, June 19 (Reuters) - Japan's financial regulator plans to order Mitsui Sumitomo Insurance Co. Ltd. (8752.T:) to suspend some operations temporarily for failing to pay thousands of auto insurance claims, the Nihon Keizai business daily reported on Monday. The Financial Services Agency (FSA) is likely to announce the suspension this week, the paper said in its evening edition, citing unnamed sources. Mitsui Sumitomo's shares ended down 2.29 percent at 1,323 yen, compared with a 0.13 percent slide by the benchmark Nikkei average <.N225>. A Mitsui Sumitomo spokesman called the story "total speculation" and said the firm had not been informed by the FSA of any suspension plans. An FSA spokeswoman said nothing had been decided. Mitsui Sumitomo was one of about two dozen insurers that admitted last year to failing to pay a combined 8.4 billion yen ($74.5 million) in benefits due to policy-holders. The firm had reported that it failed to pay claims in about 27,000 cases during a three-year period. But a subsequent investigation by the FSA revealed an additional 3,000 incidents of non-payment, the Nihon Keizai said. Last month the FSA banned Sompo Japan Insurance Inc. (8755.T:) from selling casualty insurance for two weeks for a series of violations, including padding its sales by paying premiums on behalf of clients. Sompo had also failed to pay some client claims. © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Aegon says to buy 49 pct of Mexico's Seguros Argos Mon Jun 19, 2006 3:14am ET - AMSTERDAM, June 19 (Reuters) - Dutch insurer Aegon NV (AEGN.AS:)(AEG.N:) said on Monday it had signed an agreement to acquire 49 percent of Mexican life insurer Seguros Argos. The transaction is expected to close in the third quarter of 2006 after gaining final approval from Mexico's regulatory authorities, Aegon, one of Europe's top 10 insurance groups, said in a statement. Aegon did not disclose any financial details. © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Well-known Provider of Benefits Now Targets Employers cynoSure Financial, Inc., a long-time and well-known provider of enhancement benefits to associations, memberships and internet sites, has now approached employers to provide these unique benefits as employee benefits. cynoSure's long list of benefits provide protection against and reimbursement for many of the unforeseen events and/or expenses individuals face on a daily basis. In addition, these benefits having very high value to a company's employees, can be provided by the employer for less than $10 per benefit per employee per year! To learn more about these unique and valuable benefits that will both help motivate and retain employees, please click on the link below." Formed in 1994, cynoSure Financial, Inc. ( cynoSure) is a well-known provider of “product enhancement” insurance. “Product enhancements” are benefits used to secure a company’s credibility, guarantee the reliability of its product, improve security of its website, improve its client relationships and/or increase the value of its membership. Over the last twelve (12) years, cynoSure has developed a fraud protection program for the auction sites of eBay and Yahoo; sold credit card benefits to MasterCard and American Express and provided benefits for several membership programsincluding Webloyalty, Cross Country and United Marketing Group. The cornerstone of cynoSure’s business is to develop and sell benefits to companies which in turn are used to enhance the different areas of their business. In short, our benefits provide substantial value. It is because of this value we have decided to address another area important to companies….their employees. As the expense for healthcare continues to rise, employers are looking for alternative benefits to provide their employees. The two most important factors an employer takes into consideration when providing benefits, are the cost and the value. The good thing about cynoSure’s past success is that we are able to provide high value benefits at minimal expense. Theses benefits are used to: a) reduce your employee benefit expense without compromising value, b) provide incentive for employee performance, c) reward employees for years of service and d) prevent employees from leaving the company. Upon request we can provide you with an explanation of all the benefits we offer including these three most popular packages: Automobile Auto Deductible Reimbursement Emergency Medical Coverage Roadside Assistance Lemon law Protection Auto Repair Hotline Access to discounts on anti-theft protection Home Homeowner’s Deductible Reimbursement Emergency Medical Coverage ID Theft Coverage Computer Support through Dial-A-Geek Ticket Saver Home Repair Dispatch Access to discounts on Pet Insurance “My Identity” Consultation Services if Identity Theft Occurs “ID Theft” Kit Downloadable toolbar to protect against phishing threats Access to on-line education regarding ID Theft Credit Card Registration program Reimbursement for identity restoration expenses up to $25,000 Reimbursement for lost wages due to ID Theft up to $500 per week for 4 weeks You may also want to visit our website at www.cynosurefinancial.com. In addition to listing all of our benefits, the website also gives a good description of our philosophy, our management team and our clients. cynoSure Financial, Inc. is a long-time and well-known provider of enhancement benefits to associations, memberships and internet sites so helping the employer seemed like the next logical step. As shown above cynoSure's employee benefits provide protection against and reimbursement for many of the unforeseen events and/or expenses individuals face on a daily basis. In addition, these benefits having very high value to a company's employees, can be provided by the employer for less than $10 per benefit per employee per year! To learn more, or to start providing some of these unique benefits, please contact Mona Lynch at 415-839-9456, or email her at ml@cynosurefinancial.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. Help Me!/Ayudame!: Please Explain My Benefits/Por Favor Explicame Mis Beneficios by Dell Housewright 137 pages; quality trade paperback (softcover); English, Spanish; catalogue #06-0713; ISBN 1-4120-8957-3; US$17.95, C$20.64, EUR14.74, £10.32 This book will not make you an expert on health benefits. It will teach you enough about the various choices available to enable you to make informaed and intelligent decisions. About the Book For more than fifteen years, I have worked with companies helping Human Resources understand and explain to their employees just what company benefits were being offered, how they worked, and how they were used. Then I would assist the employee enroll in the plans best suited for the individual. It was a rare occasion when I would attend an enrollment, and the offered benefits were understood. When I met individually with the employees, I found that they did not know the differences in the medical and dental plans offered. They did not know the difference in group products and individual. Long term and short term disability plans merged together in their minds, and the voluntary benefits were a total mystery. Generally, the employee would choose what he needed for the new plan year based on what they had last year, what a friend had, or how attractive was the plan name. The questions most often asked were related to the construction of the plan: "What will this do for me? How does it work if something happens? How do I choose a doctor? Where do I go? Do I really need this?" In order to answer these questions, the employee must read through the plan designs, ask the HR person, or ask the Insurance Company Representative. This brings up the biggest question of all: "Can I trust you to help me find what is right for me?" This will not make you an expert on health benefits. The intention is to teach you enough about the various choices available to enable you to make informed and intelligent decisions during each enrollment. Keep it handy on a shelf for referral when the little questions come up during the year. About the Author Dell Housewright was raised on Air Force Bases in different parts of the world. After High School he volunteered for the Marine Corps and served in Vietnam. Using his GI Bill, he was able to return to school and received his degree in Human Resource Management from Pepperdine University in Malibu in 1976. He has since worked in management, sales, and training positions for Shell Oil Company, Xerox Corporation and Roadway Express. Since 1989, Dell has worked with employee benefits as an insurance agent. His experience as a salesman, benefits enroller, account executive and case manager led him to write this book. http://www.trafford.com/4dcgi/view-item?item=12256 Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. Delta to seek to end pilots' pension plan Mon Jun 19, 2006 1:40pm ET NEW YORK (Reuters) - Bankrupt Delta Air Lines Inc. (DALRQ.PK:) plans to tell the federal pension insurer, the Pension Benefit Guaranty Corp., on Monday that it intends to end its pilots' pension plan, a spokesman said. The request to terminate the defined benefit plan -- which provides employees with a monthly payout based on their salary -- from September 2 will be sent to the PBGC later in the day, spokesman Anthony Black said. The airline will also need the approval of the U.S. bankruptcy court before it can terminate the plan, which if allowed to continue could cost it more than $1 billion in the near term. Atlanta-based Delta, which filed for bankruptcy protection from creditors in September last year, is trying to raise $3 billion a year in cost cuts and revenue increases. It reached an agreement with its pilots in April for a new contract, which saves it about $280 million a year and includes a provision for certain payments to pilots if the pension plan is terminated. The airline had said that it would end the pilots' pension plan even if Congress approves legislation that includes special help for struggling airlines. "Unless the pilot plan is terminated Delta cannot successfully restructure," Chief Executive Gerald Grinstein wrote in a letter to members of Congress on Friday. Delta also manages a nonunion plan, which Grinstein said the airline will try to save. © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. PIANJ president says change in New Jersey offers independent agents opportunity to gain market share Change will drive PIA developments in upcoming year, Anderson says ATLANTIC CITY, N.J.—Newly elected President of the Professional Insurance Agents of New Jersey Inc., Andrew Anderson, CIC, said PIA’s recent growth will continue, as agents face increasing challenges in New Jersey. Anderson’s remarks came as he was installed into office at the PIANJ/PIANY Joint Annual Conference at Bally’s Atlantic City in Atlantic City, June 12, 2006. Anderson is executive vice president and secretary of the Anderson Insurance Agency in Haven Beach, N.J. “In a time when agents are closing their doors, merging with other agencies, being purchased by banks; it is good to know that the PIA family has actually grown,” Anderson said. “We have a new personal lines market in New Jersey. Carriers have come back after 30 years of exit plans, and selling off of subsidiaries. Professional Insurance Agents need to compete in a new and different environment than that which has existed for the last 30 years. The changes come quickly and agents need to react quickly to maintain, or better yet, capture market share. PIA is the organization to give those tools to you.” “During the next year, it is inevitable that our organization will be called upon to lead our industry as a guiding light in a sometimes stormy and complex industry,” Anderson said. Anderson announced several initiatives he expects the association to undertake during his administration, including bringing new people to the industry; developing tools to assist members in agency management; and affecting market conditions. “We in the insurance industry are not alone in our need to attract people to our industry. Look around, you’ll see help wanted signs everywhere. This year we will launch a new approach to this effort, PIANJ’s Business Issues Committee. This committee will be dedicated to examining and developing tools for agents and to assist them in running their businesses in today’s challenging environment. Look for information from this committee on issues like human resources compliance, agency staffing and perpetuation, market conditions, agency promotions, technology, and disaster recovery. In addition to these ambitious goals, the committee will address the issue of agency market share, PIA’s Take Back Personal Lines initiative and how to compete in the 21st century. The industry has changed, yet again… and PIA will keep you abreast of the market and assist you in prospering in the insurance market place.” Anderson also said PIA’s Broker Compensation Task Force will be revised to include a commission disclosure charge, which will advise members on the latest developments in that new layer of law and regulation. He also cited recent court decisions, which have placed a new level of responsibility on agents. “The Pinto v. NJ Manufacturers ruling that gives us a new duty to advise commercial policy holders of a ‘drop-down’ provision in UIM coverage, and the DiProspero case that essentially changes almost everything we thought we knew about our clients’ ability to seek redress after being injured in an auto accident. PIA will work with all of our industry partners – legislators, regulators and carriers – to make sense of these, and the changes to come.” In closing, Anderson emphasized the importance of persistence and of building leadership for the industry. “Perhaps these kinds of issues deter people from entering our industry. If viewed in another light, these are the issues that the Professional Insurance Agent takes time to explain and that added value is what makes a Professional Insurance Agent an important part of the insurance buying decision.” www.piaonline.org/NJ Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. SECOVA/ULTRALINK SECURES EIGHT MILLION IN NEW FUNDING FROM BARING PRIVATE EQUITY COSTA MESA, Calif., June 19, 2006 – Secova/UltraLink, a leading provider of human resource and benefits management services, today announced it has secured eight million in new funding from Baring Private Equity Partners (BPEP), a leading international private equity fund. The new funding will be used primarily for growth initiatives, including sales, marketing and business development, as well as servicing new business signed on in the recent past. Secova/Ultralink’s wins in the last two months include a Fortune 500 client and a billion dollar client with 20,000 employees. “Industry response to the best shore offer of Secova/UltraLink has been extremely positive as demonstrated by our new funding and new clients,” said Venkat Tadanki, Co-Founder and Chief Executive Officer of the company. “We’ve already demonstrated our combined ability to leverage our technology, global delivery centers and best-in-class processes to deliver to clients uniquely customized and integrated HR and benefits administration outsourcing services. The new funding from Baring will allow us to be even more aggressive in our pursuit of new clients, delivering our unique HRO capabilities to a wider spectrum.” “We believe there is a huge opportunity in leveraging global resources for HRO, and our investment into Secova/UltraLink is a reflection of that conviction. Their recent wins have only provided us with further validation and we remain strong supporters of their vision,” said Rahul Bhasin, Managing Partner of BPEP (India). “The combined company’s ability to deliver an integrated, customized solution provides an important competitive differentiator, and at the same time, enhances the ability of their clients to drive business performance. The company has certainly demonstrated an excellent track record of augmenting their client’s internal HR departments by deliver outstanding employee service, cost effectively. We expect Secova/UltraLink will make a significant impact on future HRO practices within the industry.” www.bpepindia.com www.UltraLink.com www.secova.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. NY union settles allegations over ING payments NEW YORK, June 14 (Reuters) - A New York teachers' union said it has agreed to settle civil fraud charges over fees it received from ING Group (ING.AS:) to endorse the Dutch company's insurance and retirement products. Under an agreement announced on Tuesday with New York Attorney General Eliot Spitzer, a trust established to provide benefits for union members will pay $100,000 to Spitzer's office to cover the cost of its investigation. In a letter to the 535,000 members of the New York State United Teachers union, President Richard Iannuzzi said the trust should have provided greater disclosure of the fees ING paid it. "Mistakes were made. They will not be made again," said Iannuzzi, who the union said was elected president in April 2005, three days before Spitzer's investigation began. ING confirmed in May that it paid the trust $3 million per year to endorse its products. About 53,000 union members take part in ING's retirement offerings, the union said. The union said there was no suggestion that any individual in the trust or the union personally profited from the fees. What the $3 million paid for was not immediately clear. ING said in May it had cooperated fully with New York authorities. Last week New Hampshire regulators accused ING units of committing fraud and allowing improper trading in a state retirement plan. © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. THE COUNCIL STRONGLY SUPPORTS SURPLUS LINES REFORM LEGISLATION, CALLS FOR SWIFT HOUSE ACTION WASHINGTON – The Council of Insurance Agents & Brokers today commended Reps. Ginny Brown-Waite, R-FL, and Dennis Moore, D-KS, for introducing legislation to eliminate the disparity in regulation of surplus lines insurance on a state-by-state basis. Rep. Richard Baker, R-LA, chairman of the House Financial Services Committee’s Subcommittee on Capital Markets, Insurance and Government-Sponsored Enterprises, has scheduled a hearing on the surplus lines legislation on Wednesday. The Council will testify in support of the legislation at that hearing. “We are extremely gratified that this legislation has been introduced to correct intractable flaws in the state-by-state regulation of commercial insurance,” said Ken A. Crerar, president of The Council. “This is an area where various state regulations are in conflict, and state regulators for decades have been unable to reconcile their differences. With respect to multi-state commercial insurance placements, the current system benefits no one, least of all the policyholders who ultimately pick up the tab.” Surplus lines insurance is insurance for unique, unusual or very large risks for which coverage is unavailable in the admitted market. Although surplus lines is considered to be “unregulated,” in reality the surplus lines marketplace is subject to extensive regulatory requirements that impede the effectiveness of the market and increase costs to surplus lines consumers. “When surplus lines activity is limited to a single state, regulatory problems are minimal,” said Crerar. “When activity encompasses multiple states, however, regulatory compliance is difficult, if not impossible, due to the crazy-quilt of state laws and regulations.” The legislation provides an answer to all these problems by investing regulatory authority in the home state of the insured. This does two things: First, it ensures that the policyholder is protected by the regulator with the greatest interest in his/her welfare. Second, it completely does away with the inconsistent, redundant, burdensome obligations that the current system imposes in connection with multi-state placements. Similarly, insurer eligibility is subject to a straightforward, easily understood standard that will make multi-state compliance significantly less daunting. The bill would also provide that surplus lines premium taxes be paid to the insured’s home state. The states are then free to allocate the premium tax as they determine. “The contrast in approaches—from the simple straightforward approach in the Baker bill to the convoluted, burdensome approach of the states—could not be greater,” said Crerar. Other original sponsors of the legislation include: Reps. Darlene Hooley, D-OR; Steve Israel, D-NY; Joseph Crowley, D-NY; Tim Holden, D-PA; Melissa Bean, D-IL; Debbie Wasserman Schultz, D-FL; David Scott, D-GA; Richard Baker, D-LA; Tom Feeney, R-FL; Pete Sessions, R-TX; Vito Fossella, R-NY; Spencer Bachus, R-AL; Rick Renzi, R-AZ; and Michael Fitzpatrick, R-PA; and Judy Biggert, R-IL. The Council represents the leading domestic and international commercial insurance agents and brokers who annually write more than 80 percent of the commercial property/casualty premiums and administer billions of dollars in employee benefits accounts. “The Council appreciates the action of Rep. Brown-Waite and Rep. Moore to introduce this important legislation, and we are deeply grateful to Chairman Baker for scheduling a hearing on this bill so quickly,” Crerar said. “Clearly, this issue has very strong bipartisan support, and we are hopeful this legislation can come to a vote in the House in short order.” Founded in 1913, The Council is the premier association for commercial insurance and employee benefits intermediaries. The Council represents the leading commercial brokers and agents in the United States and abroad. Council members annually write 80 percent of all commercial property/casualty premiums in the United States and administer billions of dollars in employee benefits accounts. www.ciab.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
11. CUNNINGHAM LINDSEY U.S. ANNOUNCES ADDITIONAL CAT COURSES Dallas, TX – Cunningham Lindsey U.S. (CLUS) has convened their first Catastrophe Training Course for 2006 at subsidiary Vale National. Following the success of these courses held on an emergency basis in previous years, CLUS continues to train additional CAT Adjusters for what is predicted to be yet another busy hurricane season. These students will undergo a full three (3) week Property Training Course followed by CLUS field training immediately thereafter. This initial course began June 12, 2006 in order to allow for the completion of training in advance of peak season. Additional courses are scheduled for later in the summer, Cunningham Lindsey maintains the capabilities to initiate extra classes as the season warrants. www.cunninghamlindseyus.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. DCU SELECTS VANTISLIFE TO OFFER LIFE INSURANCE PRODUCTS WINDSOR, CT – June 19, 2006 – Marlborough, MA-based Digital Federal Credit Union (DCU), the 15th largest credit union in the United States at more than $3 billion in assets, has selected VantisLife Insurance Company to offer life insurance products to its members. VantisLife’s protection solutions will be advertised to DCU members via the credit union’s web site, throughout their branch network, and through a comprehensive direct response initiative. Products will be submitted through Financial Network Investment Corporation, DCU’s broker/dealer. www.vantislife.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. The Hartford Expands Consultative Services for Employers Insurer joins data consortium, enhancing its analytic capabilities HARTFORD, Conn. – Skyrocketing gasoline prices, the ever-changing competitive business environment, soaring healthcare costs – those are just a few of the high-pressure issues facing today’s employers. The Hartford Financial Services Group, Inc. (NYSE: HIG) understands that business owners often don’t have the resources – or expertise – to track and analyze the health and disability trends of their employees. That’s why The Hartford provides its group disability customers with free annual analyses, tracking health, absence and productivity trends, such as frequency and type of disability claims. After the review, the insurer provides extensive reporting to update employers on trends impacting their business, as well as recommended strategies to help keep employees healthy and productive. In order to provide employers with a comprehensive profile of its benefit program, The Hartford recently joined the Integrated Benefits Institute (IBI) benchmarking data consortium, a national repository of short- and long-term disability, and family and medical leave data from hundreds of U.S. mid- and large-sized employers. www.thehartford.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. U.S. Risk Releases New Eldercare Program in Florida Dallas — June 19, 2006 — U.S. Risk Underwriters and Lighthouse Underwriters today announced that they were releasing a new low-limit professional/general liability program for eldercare service providers in Florida. The PL/GL eldercare policy is available to skilled care, assisted living and continuing care retirement communities (CCRCs). The policy carries limits of $25,000 for each occurrence and in the aggregate. There is a $2,500 deductible and the premium is $15,000 fully earned. www.usrisk.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. Mitchell Tackles Top Collision Industry Concerns By Providing Transparency On How Labor Times Are Developed, Verified, and Maintained San Diego, CA -- June, 19th, 2006 -- In response to top concerns of collision repairers raised at the annual National Industry Issues Forum (NIIF), hosted by the Society of Collision Repair Specialists (SCRS), Mitchell International today issued an open invitation to the collision repair industry to come see how the company develops, verifies, and maintains labor times. Mitchell looks forward to demonstrate complete transparency to collision repairers, SCRS association leaders and members, and collision repair industry press and analysts so all can understand how the company derives and maintains its labor times database. Foremost on the minds of the collision repairers attending the recent SCRS conference is the perception that estimating databases are misused and lacking transparency. Participants of the NIIF said that they would like database providers to make available more information about how they derive their labor times, as well as provide disclosure when significant changes are made. Mitchell is reaffirming its leading industry position by providing transparency on how it develops, verifies and maintains labor times. www.mitchell.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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The #1 Insurance Newsletter In The World 16. S&P Launches 15 New Select Industry Indices NEW YORK, June 19 /PRNewswire/ -- Continuing to offer investors the purest representation of a particular industry, Standard & Poor's, the world's leading index provider, announced today the launch of 15 new S&P Select Industry indices, bringing the number of indices in this series to 18. The new indices are designed to measure the performance of a narrow GICS (Global Industry Classification Standard) sub-industry or group of sub-indices, the most granular level of industry definition available. Membership for the index series is based upon the GICS classification, as well as liquidity and market cap requirements. Each S&P Select Industry index consists of the S&P Total Market Index (TMI) constituents belonging to a particular GICS sub-industry that satisfy the following criteria: -- Represent at least 90% of the float adjusted market capitalization of the GICS sub-industry or group of sub-industries. -- Have a liquidity ratio greater than 30%. The length of time to evaluate liquidity is reduced to available trading period for IPOs or spin-offs that do not have 12 months of trading history. Each index has a minimum of 21 stocks. If the relevant sub-industry or group of sub-indices does not have enough liquid stocks, large stocks from relevant, highly correlated supplementary sub-industries are included. "Investors are increasingly looking beyond traditional sector investing as a means of gaining exposure to the more granular sub-industries," says David Blitzer, Managing Director and Chairman of the Index Committee at Standard & Poor's. "The new S&P Select Industry indices offer investors the unprecedented ability to accurately target exposure to specific industries." The S&P Select Industry Index Series tracks the following narrow industry segments: Oil & Gas Equipment & Services, Oil & Gas Exploration & Production, Metals & Mining, Aerospace & Defense, Homebuilders, Building & Construction, Transportation, Biotechnology, Health Care Equipment, Health Care Services, Pharmaceuticals, Leisure Time, Retail, Computer Hardware, Computer Software, Outsourcing & IT Consulting, Semiconductors and Telecom. A table showing the fifteen new S&P Select Industry Indices launched today can be found at the conclusion of this release. A paper detailing the methodology of the S&P Select Industry Index Series can be found by accessing http://www.standardandpoors.com/indices. S&P Select Industry Index S&P Aerospace & Defense Select Industry Index S&P Building & Construction Select Industry Index S&P Computer Hardware Select Industry Index S&P Computer Software Select Industry Index S&P Health Care Equipment Select Industry Index S&P Health Care Services Select Industry Index S&P Leisure Time Select Industry Index S&P Metals & Mining Select Industry Index S&P Oil & Gas Equipment & Services Select Industry Index S&P Oil & Gas Exploration & Production Select Industry Index S&P Outsourcing & IT Consulting Select Industry Index S&P Pharmaceuticals Select Industry Index S&P Retail Select Industry Index S&P Telecom Select Industry Index S&P Transportation Select Industry Index www.standardandpoors.com/indices Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. Standard & Poor's Launches Web-Based Service for Global Bond Pricing Daily pricing of more than 2.6 million securities now available online NEW YORK, June 19 /PRNewswire/ -- Standard & Poor's, a leading global provider of independent research, ratings, indices and fixed-income evaluations, today announced the launch of a subscription service that provides clients with Web-based access to Standard & Poor's Securities Evaluations end-of-day (4:00 pm close EST) pricing of more than 2.6 million global securities in all fixed income asset classes. The new service meets the endemic industry need for on-demand access to comprehensive bond pricing information. Standard & Poor's Web-based service provides three search options for accessing pricing: one-by-one lookup by identifier; file with multiple securities; or search by criteria other than identifier, such as rating, coupon or maturity. Extensive pricing coverage includes U.S. municipal bonds; high yield and high-grade U.S. corporate bonds; U.S. structured securities (CDO, CMO, ABS, MBS, CMBS, CLO); U.S. agencies, treasuries, CDs, and syndicated loans; European bonds (high grade, high yield, sovereigns and floating rate notes); as well as European structured bonds (ABS, MBS, RMBS, CMBS and CMO). "The traditionally opaque fixed income sector is in the midst of transformational change, brought on in part by advances in technology,"notes Frank Ciccotto, Senior Vice President of Standard & Poor's. "With this Web- based offering, we underscore our commitment to helping the industry achieve new levels of efficiency and transparency." In addition to pricing, the new service provides subscribers with a host of value-added features. These include a bulletin board that offers brief commentary from Standard & Poor's evaluators about securities in the news, significant market developments and events that impact Standard & Poor's clients. Online capability is also offered as part of the service to enable clients to submit questions about a security's price and to receive a response directly from a Standard & Poor's evaluator. Planned enhancements include the ability to download securities pricing lists and to receive alerts about price fluctuations that exceed user-defined tolerances. For more information or a free trial, call 212.438.4500 or visit http://www.sp.securitiesevaluations.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. JH Partners Closes $350 Million Private Equity Fund Nation's Five Largest Endowments Invest SAN FRANCISCO, June 19 /PRNewswire/ -- JH Partners LLC, a San Francisco-based private equity firm, today announced the closing of its second institutional fund totaling $350 million. The nation's five largest endowments -- Harvard University, MIT, Princeton University, Stanford University and Yale University -- are institutions that participated in the private equity firm's first fund and have committed to larger investments in the second fund. Since 1986, the firm's principals have made more than 40 investments, representing approximately $350 million of invested capital, in a strategy to build durable equity value in growth-oriented consumer and marketing-driven companies. The firm closed on its first institutional fund, which totaled $200 million, in November 2004. JH Partners and its principals have played an instrumental role in the growth of such powerful and well known consumer brands as Peet's Coffee & Tea, Bare Escentuals, Frette and Design Within Reach. JH Partners is a San Francisco-based private equity firm focused on investments in growth-oriented middle market consumer products and services companies. The firm distinguishes itself among private equity firms in that each of its principals has senior-level operating experience building middle-market consumer related businesses. JH Partners has been instrumental in aiding the growth of powerful consumer brands. www.jhpartners.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Preferred Club Program Expands Workers' Comp in California with ICW Group West Chester, Pa.–June 19, 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 the Preferred Club Program has added a new workers' compensation market in California through ICW Group. The ICW Group is rated "A-" (Excellent) class IX by A.M. Best Co. The Preferred Club Program is a leading insurance provider to the golf and country club industry, insuring more than 1,000 private, semi-private and upscale daily-fee clubs with package and workers' compensation programs. Workers' compensation coverage for the Preferred Club Program through ICW is available only in California. www.PreferredClub.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 20. INSURANCE NEWSCAST "Pictures Of The Day" -- Sponsored By:
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