Daily Quote: "How men toil to lay up riches which they never enjoy." - - William Jay
Independence Holding Company (IHC: NYSE) is a publicly-traded health and life insurance holding company with more than $1 billion in assets. For more than 26 years, IHC has built a solid reputation of financial stability and has grown to become a respected industry leader. The Products of Great Thinking IHC offers a wide variety of best-in-class products through its member companies while providing affordable solutions to meet any need. Our products include:
Writing business through multiple distribution channels in nearly every state, the IHC Group companies include three highly rated insurance companies and three operating companies:
Everyone
at IHC and its companies takes pride in leading the industry by example. We
value the brokers and agents who sell our products and promote our services,
and we demonstrate it through our actions. These producers are vital to our
growth and we acknowledge their partnership role.
1. Allstate to stop writing new NJ homeowner policies NEW YORK, Dec 7 (Reuters) - Allstate Corp. (ALL.N: ), the largest publicly traded U.S. home and auto insurer, said on Thursday it will stop writing new homeowner policies in New Jersey on Feb. 5, citing concern a hurricane might strike the state. The state's second-largest home insurer after State Farm said the change will not affect 230,000 homeowners who already have policies with the company. Allstate will no longer write new policies for owners of homes, condominiums, mobile homes and landlords. It said it will also not renew policies for about 300 commercial customers in eight coastal counties. "We have entered a decades-long period of increases in the severity and frequency of hurricanes," spokeswoman Sheila Breeding said. "New Jersey, while not as risky as a state like Florida, certainly has an enormous concentration of population on the shores, as well as increasing property values exposed to Mother Nature." Allstate, which is based in Northbrook, Illinois, is trying to limit exposure to catastrophes after suffering about $3.1 billion of losses last year from Gulf Coast storms such as Hurricane Katrina. The company in June said it was dropping earthquake coverage for most of its homeowner policies. In this year's third quarter, Allstate posted a $1.16 billion profit, helped by an unexpected lack of major storms, compared with a year-earlier $1.55 billion loss. © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Aon launches insurance for UK pension funds LONDON, Dec 7 (Reuters) - Brokerage and risk management consultant Aon Ltd said on Thursday it has launched a insurance deal for UK pension funds to pay out cash if a sponsor firm goes bust, part of a trend in the retirement industry. Aon said its Pensions Security Indemnity product (PSI) would inject money into a scheme if the fund's sponsoring employer defaults. PSI operates in a similar way to a letter of credit, already an established product. Under the PSI arrangement, a firm pays a regular sum in return for insurance protection, while under a letter of credit, buyers typically pay over one lump of money, usually to a bank or group of banks, an Aon spokesman said. The cost to companies of filling up pension deficits with big cash injections means an insurance option avoids the need for firms to tie up capital, Donald Duval, chief actuary, Aon Consulting, said in a statement. The risk that firms will collapse and leave deficit-laden pension schemes short of money has already prompted the UK government to set up a new regulator to police the industry. The government also set up the Pension Protection Fund (PPF) which bails out final-salary retirement schemes if firms go bankrupt. Pension liabilities are treated like debt on company balance sheets and new accounting rules mean market movements can push schemes sharply into deficit or surplus, making profit-and-loss figures more volatile. As a result, some firms have passed over their pension liabilities to insurers operating in the bulk annuities market. The PPF has said it will take contingent assets like letters of credit into account when it sets a levy on an individual firm running a pension scheme. The levy rises or falls depending on how risky the PPF considers a company-run pension scheme to be of running short of money. © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Declining Loss Ratio Results in Positive Nine Month Income for 13 Major US Reinsurers Net income for 13 major US reinsurers rose to US$6 billion for the first nine months of 2006 from a breakeven position in the comparable period last year. This positive result was prompted by a 30 percentage point fall in the loss ratio according to the latest Benfield US Quarterly report. Premium levels stabilised at US$26.4billion, halting the falling trend in place since 2003. Retentions rose as companies took advantage of an attractive rating environment. Underwriting results for the Benfield US Quarterly group in the first nine months were positive owing to the lack of major catastrophe losses and minimal adverse development on prior year losses. The weighted average combined ratio declined 27.8 percentage points from 123.8% to 96.1%. The contribution from investments was robust, with a total income of US$7.5billion in the first nine months. Realised gains were not enough to offset the US$1.76billion realised loss reported by Swiss Re America and aggregate losses totalled US$796million. Leon Janeke from Benfield’s Industry Analysis and Research Team commented: “Balance sheet strength has generated a healthy contribution to the Benfield US Quarterly group aggregate bottom line. The third quarter results suggest that there is scope for further improvement in the combined ratio”. Benfield, the world’s leading independent reinsurance and risk intermediary, compiles and shares information on 13 major US reinsurance companies on a quarterly basis. A full copy of the report can be viewed online at www.benfieldgroup.com/research. Printed copies can be obtained by contacting IAR@benfieldgroup.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. TSR Predicts an Active Atlantic Hurricane Season in 2007 TSR’s extended outlook predicts Atlantic basin and U.S. landfalling activity will be 60% above norm in 2007 London, 7 December 2006 - Tropical Storm Risk (TSR), the award-winning consortium of experts on insurance, risk management and seasonal climate forecasting led by the Benfield UCL Hazard Research Centre at University College London, today warned that a return to high hurricane activity in 2007 was likely following the below-average 2006 hurricane season. TSR’s long-range forecast anticipates Atlantic basin and U.S. landfalling hurricane activity will be 60 percent above the 1950-2006 norm next season. According to TSR, whose long-range outlooks for the exceptionally active 2004 and 2005 hurricane seasons and active 2003 hurricane season proved accurate, it is 76% likely that U.S. landfalling hurricane activity in 2007 will be in the top one-third of years historically. TSR’s long-range hurricane prediction includes:
The two main climate factors influencing the TSR hurricane forecast for 2007 are the expected values in August and September for the speed of trade winds which blow westward across the tropical Atlantic and Caribbean Sea and the temperature of the sea waters between west Africa and the Caribbean where many hurricanes develop. The former influences cyclonic vorticity (the spinning up of storms) while the latter provides heat and moisture to power incipient storms. TSR anticipates weaker than normal trades and warmer than normal waters in 2007: conditions which both favour an above-average hurricane season. TSR forecasts may be accessed through the website www.tropicalstormrisk.com. www.benfieldhrc.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. Bridges to Excellence helps employers achieve Bush administration’s “cornerstones” for health care purchasing Dec. 6, 2006, Washington, D.C. The Department of Health and Human Services’ drive to get 60 percent of the nation’s employers to commit to President Bush’s “four cornerstones” plan for the purchase of health insurance is both commendable and unprecedented in scope, according to Bridges to Excellence (BTE), the employer-sponsored, value-based purchasing group. “Bridges to Excellence is enthusiastic about supporting this national initiative, and very impressed with the resources, attention and focus being given it by the Department of Health and Human Services (HHS),” said Francois de Brantes, national coordinator of BTE. “We don’t think there has been a prior example of HHS leadership establishing such a solid partnership between the private and the public sectors to drive a common goal in improving the healthcare system.” In a Nov. 17 speech at the Business Roundtable National Summit on Health Care Transparency, co-sponsored by BTE, HHS Sec. Mike Leavitt said that the agency initially targeted only the top 200 U.S. employers for the initiative, but is now beginning to target all employers. The four cornerstones plan was outlined by President Bush in an August executive order and urges employers to prioritize four criteria when they purchase health insurance: promoting the adoption and use interoperable health care information technology; reporting of quality of care measures; reporting of health care price information; and incentives for high-quality, cost-effective care. “Most large employers and many others have been engaged in value-driven health care purchasing efforts for years, so a commitment to the four cornerstones is a logical extension of those efforts,” de Brantes said. “This is a very serious initiative by Secretary Leavitt and HHS, uniformly supported by all the employer and multi-stakeholder groups that have a value-driven healthcare system as a core agenda. We’re all going to work very hard to make this work.” BTE is a not-for-profit organization created to encourage significant leaps in the quality of care by recognizing and rewarding health care providers for meeting specific quality criteria. More than 100 employers and a number of large employer groups actively participate in BTE’s programs. For more information about HHS’s Value-Driven Health Care initiative, go to http://transparency.cit.nih.gov/ www.bridgestoexcellence.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
6. Fitch Releases Its Review of U.S. Insurance Industry; Agency Looks Ahead to 2007 CHICAGO--(BUSINESS WIRE)--Fitch Ratings today released four 2007 Outlook reports for the U.S. insurance industry and will hold a teleconference on the insurance sector tomorrow morning (Dec. 7) when Fitch analysts will discuss three of the sectors: the Property & Casualty, Life and the Health & Managed Care business lines. The four 'Outlook' reports, encompassing Life, P&C, Health & Managed Care and Title are now available on the front page of the Fitch web site, www.fitchratings.com under '2007 Sector Outlooks,' then Financial Institutions and Insurance. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. BISYS® Alternative Investment Services and T-Zero Create Strategic Alliance to Provide Leading Credit Derivative Affirmation Service ROSELAND, N.J.--(BUSINESS WIRE)--BISYS Alternative Investment Services, a leading global provider of administrative, accounting and tax services for the hedge fund and private equity industry, today announced a new strategic partnership with T-Zero, a credit derivative market leader in trade affirmation. T-Zero provides a leading post-trade affirmation and connectivity platform for the Credit Default Swap (CDS) market. The BISYS Alternative Investment Services partnership with T-Zero facilitates integrated processing with a system that supports the drive for automation in the fast-growing derivatives market. T-Zero provides an easily adaptable post-trade affirmation and messaging service that confirms trades prior to processing in order to ensure accurate trading details. T-Zero provides a core level of connectivity between clients, brokers and the BISYS platform that enables straight-through-processing (STP) for a key over-the-counter (OTC) investment product. www.tzero.com www.bisys.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. New EBRI-Commonwealth Fund Research: Consumer-Driven Health Plans Slow To Catch On, 2nd Annual Survey Finds New Plans Also Not a Major Source of Coverage for the Uninsured WASHINGTON--(BUSINESS WIRE)--Americans have not yet warmed to consumer-driven health plans, a relatively new kind of coverage that offers reduced premiums but carries higher annual deductibles. Enrollment in consumer-driven plans remains low, and satisfaction continues to lag when compared with more comprehensive health insurance, according to a survey released today by the Employee Benefit Research Institute (EBRI) and The Commonwealth Fund, nonpartisan organizations. The second annual EBRI-Commonwealth Fund Consumerism in Health Care Survey also finds that, despite the expectations of some policymakers that the lower premiums and tax benefits of consumer-driven health plans (CDHPs) would substantially reduce the number of people without health insurance, adults in these plans were no more likely to have been uninsured before enrolling in their plans than are those with more comprehensive insurance coverage. Dallas Salisbury, EBRI president and chief executive officer, said, “It will be interesting to see if continually rising health care costs prompt more workers to conclude that the tradeoff of lower premiums for higher deductibles, and potentially higher out-of-pocket costs, is worth it. The survey does find participants in consumer-driven health plans are more cost-conscious. Clearly, the choice becomes easier when some of the drawbacks of first-generation consumer-driven plans are removed, such as lack of protection for prevention and chronic care management within the deductible that may cause patients to delay or avoid getting needed care.” Karen Davis, Commonwealth Fund president, said, “Despite their tax benefits, consumer-driven health plans are not attracting large numbers of adults without insurance coverage, relative to other insurance. New strategies are needed to provide affordable and meaningful insurance to the nation’s 47 million uninsured.” A full report on the survey is published in the December 2006 EBRI Issue Brief. The report is available on both organizations’ Web sites, www.ebri.org and www.cmwf.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. Consumer-Driven Health Plan Design Drives Success, Customer Satisfaction Blue Cross and Blue Shield of Illinois Senior Vice President Provides Comments on Employee Benefit Research Institute (EBRI)/Commonwealth Fund (CF) 'Consumerism in Health' Survey CHICAGO, Dec. 7 /PRNewswire/ -- The design of consumer driven health plans (CDHP) is what drives their success, Karen Atwood, Blue Cross and Blue Shield of Illinois' senior vice president for National Accounts, said today in response to the EBRI/CF "Consumerism in Health" survey. Atwood participated in a panel of national experts EBRI/CF invited to Washington, D.C., to provide commentary. "Through the survey, EBRI and CF have given the industry valuable insight into consumers' views on CDHPs," Atwood said. Blue Cross and Blue Shield of Illinois is a division of Health Care Service Corporation, a Mutual Legal Reserve Company (HCSC), which also operates the Blue Cross and Blue Shield of New Mexico, Oklahoma and Texas Plans. Across these Plans, the number of members in CDHPs grew from 12,000 in 2004 when they were launched, to 275,000 in 2006. According to Atwood, 45 percent of members who are offered both CDHPs and more traditional preferred provider organization (PPO) plans choose CDHPs. "The goal of consumer-driven health is to get people to think about how they access services, not to discourage access. Some 30 percent of the Plans' BlueEdge Health Savings Account members access their wellness benefits, which is comparable to the rate among the Plans' PPO customers," Atwood said. "Strong CDHP programs include medical management and wellness programs to ensure that people receive the care they need." To these ends, the Plans' standard CDHP programs include first-dollar coverage for qualifying preventive services and often include the same broad networks of contracting hospitals, physicians and other providers offered to PPO and health maintenance organization (HMO) members. These standard CDHP programs also incorporate the Blue Care Connection(SM) medical management program. Atwood explained that in addition to offering account-based plans, the keys to success include providing a simple and easy-to-use product with effective customer service, which can help members navigate their health care benefits and services. She also said consumer-driven plans should offer significant network choices, incentives that reward members for accessing medical care when they need it and saving at other times, and information and tools that can help members better understand the choices available to them. "The industry's knowledge and understanding of consumer-driven health continues to grow. The more we know, the more we can encourage our members to become more active in their health care decisions and be better informed about the cost and quality of care they receive," Atwood noted. "Our experience in the market, along with information from surveys like the EBRI/CF's, will help us develop new ways to address health care affordability and value from both the demand and supply side." Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. Sturtevant and Ham Second Agency to Join Northeast Bank Insurance Group LEWISTON, Maine--(BUSINESS WIRE)--On the heels of the recently announced Palmer Insurance Agency acquisition, Northeast Bank Insurance Group, Inc., a wholly-owned subsidiary of Maine-based Northeast Bank, announced that the Company has acquired a second insurance agency in less than a week. Closing the deal on December 1st, Sturtevant and Ham Insurance located in Livermore Falls will now operate under the Northeast Bank Insurance Group, Inc. umbrella. With a rich 130+ year history, Sturtevant and Ham located at 28 Main Street offers complete lines of property and casualty insurance for families and small business in the Livermore Falls and surrounding areas. Sturtevant and Ham has 3 employees and generated close to $2 million in gross premiums over the past year. www.northeastbank.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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In addition, Republic filed a Form 15 today with the SEC to deregister its common stock, thereby immediately suspending its obligation to file annual and other reports with the SEC. www.RepublicGroup.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. Scottish Re Group Limited Completes Repurchase of $115 Million Senior Convertible Notes Issue HAMILTON, Bermuda, Dec. 6 /PRNewswire/ -- Scottish Re Group Limited (NYSE: SCT) announced today that it has repurchased nearly all of the $115 million 4.5% Senior Convertible Notes issued by Scottish Re, which note holders had the right to put to the Company today. Scottish Re has begun the process of calling the remaining $8,000 in Senior Convertible Notes that were not put in order to retire the full issue. www.scottishre.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. MMC Securities Corp. Completes $510 Million Collateral Program for North Carolina Self-Insurance Security Association RALEIGH, N.C.--(BUSINESS WIRE)--MMC Securities Corp., an affiliate of Marsh Inc., the world’s leading risk and insurance services firm, today announced it has completed a $510 million alternative collateral program on behalf of the North Carolina Self-Insurance Security Association for its Security Fund. The North Carolina Self-Insurance Security Association provides workers compensation benefits directly to eligible individuals in the event of a default by any member company that self-insures its workers compensation liabilities in North Carolina. All North Carolina employers with more than three employees are required to procure workers compensation insurance either through the commercial market or through self-insurance. MMC Securities Corp. created the program, known as the Association Aggregate Security System, to achieve a number of objectives: to enable the North Carolina Self-Insurance Security Association to operate more efficiently; to provide an alternative form of collateral (other than letters of credit and surety bonds) for member companies, and to significantly reduce the potential for future assessments. In 2005, the North Carolina General Assembly enacted legislation to facilitate the development of an efficient risk transfer mechanism for the Self-Insurance Security Association. MMC Securities Corp. pioneered this approach in California with the implementation of an alternative security program for the California Self Insurers’ Security Fund on July 1, 2003. This highly successful program has been in place for four consecutive program years and currently provides collateral totaling $5.5 billion for 355 self-insurers. This groundbreaking program has achieved significant results, reversing a $54 million deficit on June 30, 2003 to create a $100 million surplus on June 30, 2006. MMC Securities Corp. continues to work with the California Self-Insurers’ Security Fund and has completed four programs totaling approximately $22 billion in risk transfer placements on behalf of the Fund. In October, following a competitive RFP bidding process, the Fund again retained MMC Securities Corp. for another three years. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. US Federal District Court Decision Re-Affirms Debt Resolve's Patent Protection WHITE PLAINS, N.Y.--(BUSINESS WIRE)--Debt Resolve, Inc. (AMEX:DRV) of White Plains, New York, announced that a recent ruling by the U.S. Federal District Court in New Jersey has upheld the company’s patent. The ruling held that certain online dispute resolution systems provided by the National Arbitration Forum (NAF) infringe asserted claims of U.S. Patent No. 6,330, 551 ('551 Patent), and will be enjoined. This major patent infringement case, titled Cybersettle v. NAF, reaffirms Debt Resolve’s patent protection, since Debt Resolve and Cybersettle both have rights under the same patent; Cybersettle for insurance; Debt Resolve for settlement of consumer debt. NAF, which had earlier admitted the validity of those patent claims, is a Minnesota-based company involved in alternative dispute resolution, including settling disputes concerning consumer and commercial debt. www.debtresolve.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. Aon Re Global Recognized as Best Reinsurance Broker by Readers of Reinsurance Magazine CHICAGO, Dec. 6 /PRNewswire-FirstCall/ -- Aon Re Global, the world's leading provider of reinsurance brokerage and integrated capital solutions and services, was named best reinsurance broker by readers of Reinsurance magazine. The company also was recognized for best use of the Internet, and Michael Bungert, president and chief executive officer of Aon Re Americas, was named individual broker of the year. The awards are published in the magazine's December/January edition. In August, readers of Business Insurance named Aon Re best reinsurance intermediary. In October, Aon Re executive vice president Kelly Smith was ranked by Business Insurance as a Woman to Watch. Additionally, Aon Re outperformed its peers in a London's Best Brokers survey conducted by Reactions. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. RESEARCH ALERT-Merrill Lynch cuts Aon to neutral Thu Dec 7, 2006 11:25am ET - --Merrill Lynch said the downgrade of the insurance broker was based largely on valuation. --The brokerage noted the stock is within 2.6 percent of its prior price target of $38, adding it did see enough potential for gains to keep a "buy" rating on the shares. --Merrill Lynch cut its 2007 and 2008 estimates by 10 cents to $2.75 per share and $3.05 per share respectively. (Reporting by Dhanya Skariachan in Bangalore) © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. China Life to buy $4 billion power assets HONG KONG/SHANGHAI, Dec 7 (Reuters) - China Life Insurance Co. (2628.HK: ) (LFC.N: ), the country's top life insurer, will buy assets worth 32 billion yuan ($4 billion) in China Southern Power Grid, two company officials told Reuters on Thursday. Last month, an investment team led by Citigroup (C.N: ) won a 24.3 billion yuan bid for control of China's Guangdong Development Bank, giving the U.S. financial giant a bigger foothold in the fast-growing Chinese banking market. ($1=7.8234 Yuan) © Reuters 2006. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. American Bar Insurance Offers Enhanced Benefit Solutions CHICAGO--(BUSINESS WIRE)--Thomas J. Norris, Executive Director and CEO of American Bar Insurance Plans has announced an alliance with JMB Insurance to provide enhanced health care and related benefit brokerage and insurance consulting services to law firms. The new initiative will include tools and protocols to promote improved lifestyle choices that inspire a healthier culture for ABA members, their employees and their families. According to Mr. Norris, “This new capability, called “ABI Benefit Solutions” will help law firms strategically develop high-quality, cost-effective health care and other benefit programs that support the recruitment, engagement and retention of talent.” www.abiins.com www.jmbinsurance.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Aetna Signs Agreement with University of Miami - Contract adds 900 new doctors to Aetna’s South Florida network - PLANTATION, Fla.--(BUSINESS WIRE)--Aetna (NYSE: AET) announced today that it has reached agreement with the University of Miami on a new contract, expanding hospital and physician access for its members in South Florida. Under the agreement, which took effect Dec. 1, members of Aetna’s commercial plans can receive covered in-patient and out-patient services, at in-network rates, from the University of Miami Hospital and Clinic, the Bascom Palmer Eye Institute, the Anne Bates Leach Eye Hospital, and the Sylvester Comprehensive Cancer Center. In addition to the new hospitals, the agreement includes the University of Miami Medical Group, adding approximately 100 new primary care physicians and 800 new specialists to Aetna’s South Florida network. www.aetna.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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21. The Hanover Insurance Group Expands Avenues Business Owner's Policy with 96 New Classes - New Classes Help Agent Partners Succeed in Small Commercial Market - WORCESTER, Mass., Dec. 7 /PRNewswire-FirstCall/ -- From Sunglass Stores to Pet Daycare, The Hanover Insurance Group (NYSE: THG), a leading super regional property and casualty company, is adding 96 new classes to the company's Avenues(TM) Business Owner's Policy (BOP) in an effort to help its agent partners meet the needs of a growing number of small commercial clients. This is the second time this year that The Hanover has expanded the number of BOP classes it offers, bringing its total of broadly defined BOP classes to more than 460, covering the equivalent of more than 1,000 industry classes. www.hanover.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. XL Insurance Introduces New Commercial Marine Liability Policy NEW YORK, Dec. 6 /PRNewswire/ -- XL Specialty Insurance Company, part of XL Capital Ltd's ("XL") insurance operations ("XL Insurance") today unveiled a new Commercial Marine Liability (CML) policy available through its Marine & Offshore Energy (MOE) unit. Designed for shipyards, marine terminals, stevedores and other maritime operations, XL Insurance's new CML policy provides primary liability coverage with limits up to $1 million. www.xlcapital.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. AgencyPort Launches Enhanced AgencyPortal Platform with Version 3.4 BOSTON--(BUSINESS WIRE)--AgencyPort Insurance Services, a leading provider of web-based solutions designed specifically for property and casualty insurers, today announced the release of an enhanced version of its AgencyPortal product, Version 3.4. “With AgencyPortal 3.4, our customers differentiate themselves in the marketplace by providing their agents with a comprehensive, easy-to-use web system for processing all types of transactions,” says Steven Hauck, president of AgencyPort. “These particular enhancements reflect the unique combination of our leading agent portal and interface software, offering carriers a strategic web platform for product distribution.” www.agencyport.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Mutual of Omaha Selects FINEOS FINEOS Claims Selected for Group Employee Benefit Claim Operations DUBLIN, Ireland--(BUSINESS WIRE)--FINEOS Corporation, a global provider of expertly developed and packaged componentized software solutions for the insurance industry, today announced it has signed an agreement with Mutual of Omaha to implement its FINEOS Claims solution. Mutual of Omaha has selected the solution to manage claims operations for its group employee benefits products, including disability, life, AD&D, and waiver of premium. This implementation will allow Mutual of Omaha to position claims processes for their growing lines of business. www.FINEOS.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. XACTWARE’S NETWORK PROCESSES FIVE MILLIONTH VALUATION Orem, Utah, December 7, 2006 — XactValue reached a significant landmark recently when it processed its five millionth valuation. XactValue is the property industry’s premier tool for determining the replacement cost of a structure. The correct replacement cost is critical for both insurers and policyholders. Among XactValue’s unique features is the way it builds an actual replacement-cost estimate for each building using the same replacement-cost data employed by most insurance adjusters and restoration contractors when they write damage-repair estimates. “By building a bridge between underwriting, claims and the policyholder, XactValue helps insurers accurately estimate replacement costs while helping policyholders feel confident they have adequate coverage,” said Edmund Webecke, XactValue’s General Manager. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. TelaDoc’s Physician Telephone Consults Deliver Quality Care, Lower Costs to Prescription Benefits, Inc. Network of Employers, Brokers and Consultants DALLAS, Tex./BIRMINGHAM, Ala. – December 6, 2006 – A strategic business partnership between TelaDoc Medical Services, Inc. ( www.TelaDoc.com ), the nation’s leading physician telephone consult company and Prescription Benefits, Inc. ( www.Rxbenefits.com ), a leader in providing innovative and cost-effective medical and pharmacy benefits for self-funded employer groups throughout the United States, offers Prescription Benefits’ clients, customers and stakeholders the convenience of simply picking up the telephone and receiving quality, affordable medical care from primary care physicians (PCPs), wherever or whenever services are needed. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. Mt. Washington Delivers Discount to NH SBLI Policyholders Affiliation Offers P&C Savings to Life Insurance Customers CONCORD, N.H.—Dec. 6, 2006—Concord-based Mt. Washington Assurance Corporation announced that it has partnered with The Savings Bank Life Insurance Company of Massachusetts to offer a special, low auto insurance rate to SBLI’s more than 22,000 New Hampshire customers. New Hampshire SBLI policyholders will be eligible to receive a 10% discount on their auto insurance premiums when they insure their vehicles with Mt. Washington. The discount is available through participating independent agents representing Mt. Washington throughout the state.In addition to offering the group discount for existing, eligible SBLI policyholders, participating Mt. Washington agents will be licensed to sell SBLI life products. This exclusive partnership provides New Hampshire consumers with a unique opportunity to purchase SBLI life insurance through an independent agent. www.sbli.com www.mwac.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. Renaissance Health Insurance Company of New YorkSM to Focus on Dental Coverage for Small and Mid-Sized Businesses New York, N.Y. – December 6, 2006 — Renaissance Health Insurance Company of New York (Renaissance New York), a member of the Renaissance family of companies, announced today it will sell and service insurance plans in select New York markets including Rochester, Syracuse and Buffalo. The announcement was made by Renaissance New York board director James R. Sherin, president and CEO of the Retail Council of New York State. Renaissance New York will focus on providing small to mid-sized employer groups with affordable plans that address the specific needs of the small business owner. The initial product line is Renaissance DentalSM, a comprehensive dental health plan structured to offer cost-effective and flexible dental coverage for companies with five or more employees. Renaissance Dental offers Classic (traditional indemnity) and PPO (Preferred Provider Organization) plans with access to an extensive network of credentialed dental professionals, including specialists. The PPO will not be available in all counties. Plans call for the company to introduce an expanded line of insurance plans over the next year. For more information about Renaissance New York, call 1-800-745-7509. Renaissance New York is a member of the Renaissance family of companies, the first of which opened its doors in 1957. Collectively, Renaissance provides coverage for more than six million people with annual revenues of nearly $2 billion. www.rlhic.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 29. IOWA RECOGNIZES IMSA QUALIFICATION AS MARKET OVERSIGHT TOOL Bethesda, MD – The Insurance Marketplace Standards Association (IMSA) today applauded the Iowa Division of Insurance for a Bulletin that names IMSA and other best practice organizations as “valuable tools” the Division can use to carry out its market oversight responsibilities. In Bulletin 06-04, Commissioner Susan E. Voss notes that the Iowa Division views IMSA-qualified companies as being “at less risk to be in violation of Iowa laws and regulations concerning the sale of life insurance and annuity products.” “The Division has determined that it will allocate more market examination resources to monitor and examine life insurance companies that are not members of IMSA,” states the Bulletin. “IMSA companies are leading the way in compliance and treating consumers fairly,” said IMSA Chairman Timothy F. Kneeland, President of Life Investors Insurance Company of America, a member of the AEGON Group. “We see this Bulletin as an acknowledgment of the high standards of market conduct that IMSA-qualified companies maintain.” www.IMSAethics.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 30. FLOODED, WRECKED VEHICLES POSE SAFETY, CONSUMER RISK “Katrina Cars” Returning to Marketplace Hurricane Season Over, But Flooded Cars Still Threaten Public *** Lawmakers, Coalition to Announce Next Steps in Push for New Law to Make Roadways Safer, Protect Unsuspecting Car Buyers and Reduce Title Fraud *** WHO: Senator Trent Lott (R-MS), Chairman of the Senate Commerce, Science and Transportation Subcommittee on Surface Transportation and Merchant Marines - Rep. Cliff Stearns (R-FL), Chairman of the House Energy and Commerce Subcommittee on Commerce, Trade & Consumer Protection - David Regan, VP of Legislative Affairs of the National Automobile Dealers Association (NADA) WHAT: News conference announcing next steps to increase motorist safety, stop chop shop fraud, and “red flag” thousands of flooded, stolen and totaled vehicles before they are resold to an unsuspecting consumer. WHERE: Upper Senate Park (Intersection of Delaware and Constitution Ave., Senate Side) WHEN: Thursday, December 7th, 11:00 a.m. WHY: Sen. Lott and Rep. Stearns have introduced legislation S. 3707 and H.R. 6093 that would make roadways safer, protect unsuspecting car buyers and help reduce vehicle title fraud. Roughly five million vehicles were “totaled” last year due to severe damage, flooding, or theft, including 580,000 from the Gulf Hurricanes alone. Thousands of these vehicles are cleaned up and resold to unsuspecting customers who are not aware of the car’s troubled past – a problem called “title washing.” News reports around the country have documented that Katrina cars are turning up as far away as Washington State. This is a double-hit on consumers. First, it’s a significant and unnecessary public health and safety risk to the entire motoring public because more unsafe cars are on the road (i.e. airbags or anti-lock brakes fail). And second, it’s a significant economic risk to buyers of used vehicles who may overpay for a rebuilt wreck. This problem persists because state motor vehicle titling laws are confusing and incomplete, and no central database exists to “red flag” all of the problem vehicles. Buyers do not have enough timely access to title data at DMVs or total-loss data at insurance companies. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 31. Genworth Financial Granted Mexico's First Mortgage Insurance License RICHMOND, Va., Dec. 6 /PRNewswire-FirstCall/ -- Genworth Financial, Inc. (NYSE: GNW) has received the first authorization to incorporate a mortgage insurance company in Mexico. Under the authorization, granted by Mexico's Ministry of Finance, Genworth expects to begin writing mortgage insurance directly in the country by the second quarter of 2007, after incorporating and receiving final approval from Mexico's Insurance Commission and Ministry of Finance. "Mexico's housing and mortgage markets are poised for growth in both scale and products," said Alejandro Rivero, chief executive officer of Genworth Financial Mexico. "With this license, Genworth will play an important role in the development of both. www.genworth.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 32. HOTCHKISS INSURANCE AGENCY, INC. ANNOUNCES THE TEXAS ASSOCIATION OF BUILDERS ENDORSEMENT OF THE TEXAS HOME BUILDERS WORKERS’ COMP GROUP DALLAS, TX—December 7, 2006- Hotchkiss Insurance Agency, Inc. (HIA), a leading provider of custom designed insurance programs and services to businesses, associations and franchise operations announced today that the Texas Association of Builders (TAB) has endorsed the Texas Home Builders Workers’ Compensation Group (THB-WC). “Once our builder members realize that they may be able to receive two separate dividend checks back on their insurance and the protection this group can provide them their choice is clear,” said newly installed TAB president Jerry Carter. “The Texas Home Builders Workers’ Comp Group is affordable and offers the home builder an essential level of protection for their company.” www.hiainc.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 33. First Notice Systems Integrates StrikeIron Web Services for Insurance Claims Research Triangle Park, NC – December 5, 2006 — StrikeIron Inc., provider of the Web Services Marketplace, today announced that First Notice Systems, Inc., the industry leader in claim reporting solutions for the insurance industry, has integrated StrikeIron’s Address Verification Web Service into First Notice’s product and service offerings. As a critical interface between customers and clients, First Notice must maintain real-time response speed, data accuracy, and efficient business process flow to continue to deliver the company’s high-quality service. By integrating StrikeIron web services, First Notice has further enhanced insurance claims reporting by adding functionality that continues to reduce loss adjustment expense. www.concentra.com www.strikeiron.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 34. IPcelerate Launches Bundled Healthcare Solution DALLAS--(BUSINESS WIRE)--IPcelerate, Inc., a provider of advanced communications-based software applications, announced today the introduction of a pre-integrated, pre-configured bundled solution for healthcare organizations. IPcelerate’s solution addresses the most critically needed and utilized features of healthcare customers, including two-way nurse call integration, increased patient and caregiver security through RFID integration, liability reduction and transcription facilitation with on-demand recording, and dial-out capabilities for information dissemination to patients and insurance companies. www.ipcelerate.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 35. Aetna Foundation Awards Grants Totaling $280,000 in Maryland, Virginia and Washington, D.C. LARGO, Md.--(BUSINESS WIRE)--Aetna (NYSE: AET) and the Aetna Foundation announced that they have awarded grants totaling $280,000 to nine organizations located in Maryland, Virginia and the District of Columbia. The amounts and recipients of the grants are:
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 36. Aetna Foundation Awards Grants Totaling $285,000 to Six Florida Organizations JACKSONVILLE, Fla.--(BUSINESS WIRE)--Aetna (NYSE: AET) and the Aetna Foundation announced that they have awarded grants totaling $285,000 to six organizations located in Florida. The amounts and recipients of the grants are:
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