Members of the Workplace Benefits Association have been provided with the links to download the manuals and marketing materials below.
If you are not yet a member, please click here. The fees to become a member of The Workplace Benefits Association are waived for one year. If a member decides to renew at the end of one year, the membership fee is only $29.00 per year, however there is no obligation to renew a membership, and no payment information is collected until a member does decide to renew. www.workplacebenefits.org The Members of the Workplace Benefits Association strive to bring an integrated solution through a master plan that involves a standardized employer guide and checklist. This procedure ensures that no important area is overlooked while providing the flexibility for each employer and employee to create an individual solution to their benefits and financial planning. (Proviso - The Workplace Benefits Association does not sell workplace benefits and is not in the business of offering advice) Daily Quote: "I will not let anyone walk through my mind with dirty feet." - - Mahatma Gandhi 1. ABA INSURANCE PROGRAM SHARES $4.5 MILLION IN PROFITS WITH MEMBER BANKS -- Total Distribution Tops $58.5 Million as Program Celebrates 20th Anniversary -- WASHINGTON, Jan. 4 – The American Bankers Association today announced that the American Bankers Professional and Fidelity Insurance Company will distribute $4.5 million in underwriting profits to insured member banks. ABPFIC, the mutual reinsurer for the ABA-sponsored insurance program, has distributed $58.5 million to participants since the program’s inception in 1987. The program—underwritten by Progressive Casualty Insurance Company—offers directors & officers liability, financial institution bond, Internet banking liability, employment practices liability and other related insurance products for community banks. Insured banks that are ABA members are automatically mutual owners of ABPFIC. “We’re pleased to offer banks this stable and reliable source of insurance and proud to offer profit distributions back to the ABA members,” said Edward L. Yingling, ABA president and CEO. “Designed and directed by bankers, the ABPFIC program continues to provide innovative insurance policies to address today’s risk management environment.” “Our program is the only one of its kind that distributes profits directly to member banks,” said ABPFIC Chairman John Manor with The Bank of Bonifay, Bonifay, Fla. “True to the mutual concept, ABPFIC members benefit from their company’s profitability. That is a major achievement for our company and a valuable benefit for ABA members.” The American Bankers Association brings together all categories of banking institutions to best represent the interests of this rapidly changing industry. Its membership — which includes community, regional and money center banks and holding companies, as well as savings associations, trust companies and savings banks – makes ABA the largest banking trade association in the country. ABA can be found on the Internet at www.aba.com. The American Bankers Professional and Fidelity Insurance Company is a bank-owned, mutual insurance company that reinsures coverages underwritten by the Progressive Casualty Insurance Company (Progressive) in Mayfield Village, Ohio. Progressive has earned an "A+" (Superior) rating from A.M. Best Company and can be accessed by independent insurance agents. An A+ rating by Best’s reflects the strength of a company’s balance sheet, operating performance and business profile. For more information call Judi Kovach at (800) 274-5222 or visit the Web site at www.banks.progressive.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. QBE Insurance to buy Winterthur US for US$1.16 bln SYDNEY, Jan 5 (Reuters) - QBE Insurance Group Ltd. (QBE.AX:), Australia's top insurer by premium income, said on Friday it will buy Winterthur US Holdings from France's AXA (AXAF.PA:) for US$1.16 billion to boost its U.S. presence, buoying its shares. Wisconsin-based Winterthur US writes property and casualty insurance risks through 1,700 independent agents in 33 states of the U.S. Its gross premium income for 2007 is expected to be around US$1.45 billion and QBE forecasts the deal to bring in net profit after tax of about US$160 million in the first full year. "It'll be very well received by the market," Credit Suisse analyst Arjan van Veen said. QBE shares as much as 7 percent in early trade. AXA, which bought Swiss insurer Winterthur in June last year, said in a statement that Winterthur US would repay US$636 million of inter-company loans to the Winterthur Group. QBE is raising about A$800 million ($630 million) through a share placement to part-fund the acquisition. It will also use existing excess capital and short-term debt to fund the purchase, and its acquisition of Praetorian Financial. QBE said last month it had purchased Praetorian for $800 million from German reinsurer Hannover Re (HNRGn.DE:). "If you combine this with the Praetorian acquisition that they did in December, their footprint in the U.S. is now quite large. These are two very sizeable acquisitions and this is another 15 percent growth in terms of the group, in terms of premiums,"Arjan Van Veen said. Post the acquisition, QBE's debt-to-equity ratio will remain at around 40 percent, the company said. The acquisitions are expected to be completed in the second quarter of 2007. "Winterthur US gives us a strong footprint in western, mid-west and north-east U.S. states for small-to-medium property and casualty business through a large base of independent agents," said Frank O'Halloran, QBE Group Chief Executive Officer, in a statement. "By contrast, the Praetorian acquisition announced in December will more than double the size of our U.S. specialist insurance program business," he added. Annualised gross premium income from QBE's American operations is expected to be around US$4.6 billion, slightly less than 40 percent of QBE Group gross premium income. The acquisition is subject to regulatory approval. (Additional reporting by Ian Chua) ($1=A$1.27) © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Spitzer’s Plans to Restore NYS Worker’s Comp, Economy are Praised by Independent Insurance Agents & Brokers of NY (DeWitt, New York, January 3, 2007) — The Independent Insurance Agents & Brokers of New York, Inc. congratulates Gov. Eliot Spitzer on committing to sweeping economic reforms, especially the dysfunctional worker’s compensation system. During his first State of the State Address and third day on the job, Spitzer promised to “reduce the burdensome cost structures that have driven businesses out of our state.” Speaking before a packed State Assembly Chamber in Albany, Spitzer declared that worker’s compensation in New York state, “does not work for anyone,” a sentiment expressed for years by IIABNY and the 125-year-old trade association’s industry coalition, NY First NYCAN (New York Compensation Action Network). The new Governor intends to “lower employer premiums while increasing worker benefits.” IIABNY will continue to work with Spitzer and his staff, as well as the New York State Senate and Assembly to enact worker’s compensation legislation beneficial to both the business community and injured workers. To view this and other IIABNY legislative ideas, visit the association’s 2007 Legislative Position Paper at www.iiabny.org. Go to the “Government Affairs” section on the left and click on the text link for current Legislative Position Paper. Trusted Choice® is a national consumer brand uniting more than 6,000 independent agencies, including members of the Independent Insurance Agents & Brokers of New York, Inc. Established in 1882, IIABNY is a not-for-profit trade association that represents the common business interests of independent insurance agents. The association, whose headquarters are located in DeWitt, New York, represents more than 1,900 agencies and their 18,000 employees. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. Latest Eastbridge Report Examines Enrollment Practices in the Voluntary Market AVON, Conn.--(BUSINESS WIRE)--Enrollment is the lifeblood of worksite sales. Without a successful enrollment, a case is almost worthless. Yet, not much has changed in enrollment since 2000. This was one of the findings of the latest Eastbridge Spotlight Report, Enrollment Practices for Voluntary Products. Among the findings in the report are:
The report looks at the market trends in enrollment from four different perspectives: employers, employees, producers, and carriers. With data from 27 different carriers, the report provides insight on the following issues:
The report is now available for purchase for $1,500. Buyers of either of our past two enrollment reports receive a discount and can purchase the new report for just $1,000. For more information or to purchase the report, call the company at (860) 676-9633 or email info@eastbridge.com. Eastbridge Consulting Group, Inc. is a marketing advisory firm serving insurance and financial services organizations in the United States and Canada. Contacts: Eastbridge Consulting Group, Inc., Jennifer Davis, 860-676-9633 Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. We Love Bad Working Conditions – And so should you! The New Era of Voluntary Insurance Products Too many times companies and brokers alike turn down business because of the misconception that bad working conditions spell out failure in the enrollment. Marketing departments across the country are locked into the mindset that if you can not get face to face enrollments or provide insurance via payroll deductions no body will buy insurance. miQuotes.com takes exception to this myth. In fact, poor working conditions can mean big money and less work. miQuotes LLC, has developed a unique method to for employees of companies, members of associations or just the general public to apply for a variety of insurance plans 24/7 from the privacy of their home or office. The miQuotes platform can be referred to as the anti-voluntary insurance program by offering individual insurance plans sold through employer and association sponsorship. Premiums are paid direct to the insurance company so there are no payroll deductions, list bills, on-site enrollments or strict participation guidelines to deal with…something that most HR directors can only dream about. Through the use of sophisticated and proprietary web based technology brokers can offer a customized suite of products to not only the mainstream group market but also the “black sheep” organizations of the insurance industry. No longer will associations, restaurants, nursing centers, or other companies with high turnover issues be turned away from allowing their full or part time employees access to quality insurance policies. Term life, permanent life, cancer, critical care, accident, medical as well as auto and home insurance are a few of the products that are available under this unique platform. In support of the broker, miQuotes has also made it possible to provide fully customized web quoting engines and application tracking systems down to groups as small as 10 or as many as 1 million employees. All fulfillment is done through a nationwide call center with a quality commission paid to the broker. In short, miQuotes can extend a broker’s office into areas not normally penetrated through the use of fully customized web based quoting engines for their commercial, group or association accounts.This state-of-the-art platform is also available at the insurance company level and can display only theircompany’s products for distribution to their specific field force.Customized web sites, application tracking and fillable forms can be created within minutes for ease of use at the IMO, MGA, or broker arena. miQuotes LLC, founded in 2000 has processed over 35,000 requests for insurance and currently has over $1.30 billion of life insurance in force. For more information contact: Greg Schlatter at 877-647-8683 ext. 4528. Email- gschlatter@miquotes.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 6. Zywave Offers Free White Paper: ÂTop Six Advantages of an Agency Management System for Insurance Brokers This new report explains how a good agency management system is an investment in agency growth, and increasingly provides a competitive advantage in the insurance broker world. Milwaukee, Wis. -- January 4, 2006 -- Zywave, Inc., a leading provider of technology products and services for insurance brokers, today announced the release of their new, free white paper titled “Top Six Advantages of an Agency Management System,” which can be downloaded at www.zywave.com. The new white paper guides agencies through the process of understanding what a centralized agency system can offer in terms of functionality and how this can translate to agency growth. Six key benefits are explored, including: retention through communication, deep selling across lines of business, accurate and efficient data, agency-wide view of your sales pipeline, efficiency and customer satisfaction. "With the evolution of insurance-specific technology tools, the possibilities for increased sales and improved retention are exploding like never before," said Dave O’Brien, executive vice president of sales for Zywave. "Brokers who invest in technology solutions are discovering that it’s a major differentiator and a distinct advantage in a competitive market." Zywave is the leading provider of Web-based systems for employee benefits and property and casualty communication, administration, and claims data analysis, designed to help insurance brokers gain profitable market share. Employed by more than 600 partners and 63 of the Top 100 agencies, Zywave applications help brokers secure and retain business by differentiating them from their competitors and allowing them to compete on a high-capabilities basis. Additional information is available at www.zywave.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. ACE Acquires Altas Cumbres Life Insurance Company NEW YORK--(BUSINESS WIRE)--The ACE Group of Companies announced today that it has acquired Altas Cumbres Life Insurance Company, formerly a wholly owned Peruvian subsidiary of Grupo Altas Cumbres of Chile. Altas Cumbres is one of Peru’s fastest-growing life insurance companies, with more than 700,000 customers, specializing in accident, group and credit life insurance. Distribution channels for its products include captive agencies, brokers and bancassurance through the more than 100 branches of Banco del Trabajo, which is one of Peru’s largest banks and is owned by Grupo Altas Cumbres. “With the acquisition of Altas Cumbres Life, ACE is able to participate in the vibrant and growing Peruvian insurance market,” said Ed Clancy, President and Chief Operating Officer, ACE Overseas General, and President of International Accident & Health. “As we expand our business opportunities in Peru, we are able to partner with one of the strongest banking franchises in the country. We also look forward to expanding the Altas Cumbres product line to include a broad array of life, accident and health insurance, as well as introducing additional distribution channels.” www.acelimited.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. Hanmi Financial Corporation Completes Acquisition of Insurance Agencies LOS ANGELES--(BUSINESS WIRE)--Hanmi Financial Corporation (Nasdaq: HAFC), the holding company for Hanmi Bank, announced that it has completed the acquisition Chun Ha Insurance Services, Inc. and All World Insurance Services, Inc. As previously announced, the two Southern California-based agencies, founded in 1989 by Ki Hong Park, offer a complete line of insurance products and together represent one of the largest Korean-American insurance brokerages in the country. Mr. Park will continue on as President and Chief Executive Officer of both agencies. Headquartered in Los Angeles, Hanmi Bank, a wholly owned subsidiary of Hanmi Financial Corporation, provides services to the multi-ethnic communities of California, with 22 full-service offices in Los Angeles, Orange, San Francisco, Santa Clara and San Diego counties. Hanmi Bank specializes in commercial, SBA, trade finance and consumer lending, and is a recognized community leader. Hanmi Bank's mission is to provide varied quality products and premier services to its customers and to maximize shareholder value. Additional information is available at www.hanmifinancial.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. Award-Winning Guide on Caregiving Available Free LifeCare® wins top honor in MarCom Creative Awards for its guide on helping people provide care to aging loved ones; award-winning guide now available free to interested individuals and organizations. WESTPORT, Conn., January 3, 2007 -- LifeCare®, Inc., provider of comprehensive specialty care services and a longtime leader in the work/life industry, has won a Platinum Award in the 2006 international MarCom Creative Awards competition for its educational guide, "What You Need to Know About Becoming a Caregiver." Created to help LifeCare clients effectively care for aging parents and loved ones, this award-winning guide is now available for free at www.lifecare.com. The guide contains a host of tips, checklists and strategies on the most common challenges that adult caregivers face, including preparing for the role of caregiver, determining how much help loved ones needs, communicating effectively with loved ones, discussing caregiving options, and more. To receive a free electronic copy of LifeCare's guide, visit www.lifecare.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. TotalCompBuilder.com Helps Employers Communicate the Full Value of Employees’ Compensation and Benefits Packages On-demand software solution helps employers improve staff morale, increase productivity and retain top performers ROCKLIN, CA – January 4, 2007 – In most cases, it’s not the richness of a benefits program that retains top-performing employees . . . it’s how well the value of that package is communicated. This philosophy is behind the introduction of TotalCompBuilder.com, the first web-based, on-demand total compensation statement software for employers. The first-of-its-kind software produces full color, high impact total compensation statements in print and online formats. Using an online wizard, Microsoft Excel template and Word-like editor, employers can easily produce both print and online total compensation statements for each employee. All employers need to get started is an Internet connection and web browser -- no software is needed for installation, or complicated updates to download. According to the Bureau of Labor Statistics, benefit costs average 30 percent of an employee’s total compensation package; however, a recent Yahoo! Hot Jobs survey found that 36 percent of the workers surveyed planned to leave their current employer for one with better benefits. In that same survey, 51 percent of employees who planned to stay cited a good benefits package as the reason. “With replacement and training costs as high as one to two times an individual’s salary, it’s no longer a luxury to show employees the full value of their benefits program – it’s now a necessity,” said Ray O’Donnell, President of TotalRewards Software, Inc., which produces TotalCompBuilder.com. The TotalCompBuilder family includes a variety of editions to serve companies of all sizes, including a free edition ( www.FreeTCS.com ), the Agency Edition ( www.AgencyEdition.com ), designed for insurance brokers, consultants and third party administrators, and two premium editions -- Professional and Enterprise. The full-featured premium editions start at $50 per month per client. “Promoting the value of total compensation results in improved employee morale, increased employee productivity and the retention of top employee talent,” adds O’Donnell. “Additionally, in this era of benefits cost-sharing, communicating a company’s benefits investment can lead to less resistance by employees towards any current or future cost sharing arrangements.” Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 11. Financial Planners Urged To Fill Huge Void With Long-Term Care Insurance PLYMOUTH, Minn.—Financial planners can fill a huge void that exists for many of their current and prospective clientele through long-term care insurance (LTCI), according to Gerald O. Summers, director, GoldenCare USA Financial Planning Division, Plymouth, Minn. “The last thing any financial planner should want to hear is one or more of their suddenly disabled clients with long-term care requirements ask why LTCI wasn’t brought to their attention,” said Summers. Financial planners, he added, should position long-term care coverage as asset protection, and they can be aided considerably by LTCI marketing organizations that offer educational courses (including online), training, and long-term care need estimating software. In addition, such organizations can and do work with financial planners through splitting the business with them or working out another mutually agreeable arrangement. “Planners should especially focus on LTCI for their clients and prospects because of the accelerating costs of long-term care that could reach and possibly exceed $300,000 to $400,000 in the years ahead,” stressed Summers, a veteran financial planner who became interested in the coverage when some of his clients became ill and in need of extended care. The goal today for planners, he emphasized, should be to coordinate the LTCI marketplace with the financial planning process. Therefore, planners need to place long-term care planning on equal ground with tax, estate and investment planning. ‘The challenge for all financial planners is, as it always has been, to get clients to a comfortable retirement and keep as much money as possible in their pocket and out of Uncle Sam’s. However, that could all go awry without adequate long-term care insurance as an integral part of the financial plan,” said Summers. The way for planners to go today, he reiterated for emphasis, is to rely on an LTCI marketing organization with a good track record to help educate them and their current and prospective clientele, and to use those resources to refer their business. In the process, planners will be able to reduce their liability, satisfy their current and future clientele, and fill a huge void. For further information, Summers can be reached at (888) 533-7503 or geralds@goldencareusa.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. AIA Welcomes New Idaho Insurance Commissioner BOISE, ID, Jan. 4, 2007– The American Insurance Association (AIA) today congratulated Rep. Bill Deal (R) on his appointment as director of the Idaho Department of Insurance. “Representative Deal’s four decades in the insurance industry and eight terms in the Idaho House of Representatives will give him a unique perspective on the critical public policy issues facing insurance companies operating in Idaho,” said Steve Suchil, AIA vice president, Western Region. “Governor Butch Otter (R) made the right choice. Idaho insurance consumers will be well-served by such a qualified regulator. AIA and its member companies look forward to working with Representative Deal in his new role.” Rep. Deal has stepped down as a member of the House of Representatives for District 13, and Gov. Otter will appoint his replacement based on nominations from the district. Deal is past president of the Idaho Independent Insurance Agents Association. He and his wife owned and operated W.W. Deal Insurance Agency in Nampa, Idaho. www.aiadc.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. Philadelphia Consolidated Named to Forbes’ Platinum 400 list of America’s Best Big Companies Bala Cynwyd, PA, January 4, 2007, Philadelphia Consolidated Holding Corp. (NASDAQ: PHLY) announced that Forbes magazine has ranked it #74 on their Platinum 400 list of America’s Best Big Companies as published in their December 21, 2006 issue. Philadelphia Consolidated was among over 1,000 corporations that were evaluated for inclusion on the list based on such factors as 12-month and five year stock market returns, sales and earnings-per-share growth and debt-to-capital ratios. “We are extremely proud of Forbes’ recognition of our performance.” said James J. Maguire, Jr., President and CEO. “Over the past 4 years we were named among the top performing companies on Forbes’ 200 Small Business Companies and are now recognized as a top performer on their Platinum 400 list of America’s Best Big Companies. This is a testament to our commitment to high achievement and drive to differentiate our products and financial strengths in the marketplace.” In operation since 1962, PHLY designs, markets, and underwrites commercial property/casualty, personal lines and professional liability insurance products incorporating value added coverages and services for select industries. Nationally recognized as a member of Ward’s Top 50 and Forbes’ Platinum 400 list of America’s Best Big Companies, the organization has 38 offices strategically located across the United States. www.phly.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. Bayer, others settle with U.S. over weight-loss ads Thu Jan 4, 2007 2:38pm ET WASHINGTON (Reuters) - Bayer AG and several smaller companies agreed to pay the U.S. government almost $26 million to settle allegations of false weight-loss advertising claims, the Federal Trade Commission said on Thursday. The settlements involve Bayer's One-A-Day WeightSmart multi-vitamin, as well as the diet pills CortiSlim, TrimSpa and Xenadrine EFX, which are made and sold by other companies. "You're not going to find weight loss in a bottle of pills," FTC Chairman Deborah Platt Majoras told reporters. "These ads are encouraging consumers to postpone the tougher choices that have to be made when one wants to lose weight." In the case of Bayer, the company will pay a $3.2 million civil penalty to settle FTC allegations that ads for One-A-Day WeightSmart multivitamins violated an earlier agency order requiring all health claims for One-A-Day brand vitamins to be supported by scientific evidence. One-A-Day WeightSmart contains epigallocatechin gallate, a green tea extract, which Bayer ads claimed could help increase the body's metabolism to control weight, the FTC said. In a statement, Bayer said its product provides "safe and effective nutritional support to those who are watching their weight." The company said it "strongly disagrees" with the FTC's description of the product as weight-loss pills. The FTC also said two marketers of diet pill Xenadrine EFX -- RTC Research & Development and Robert Chinery Jr. -- will pay up to $12.8 million to settle allegations that the product's weight-loss claims were false and unsubstantiated. Xenadrine EFX contains green tea extract and bitter orange, and ads claimed the product was clinically proven to cause rapid and substantial weight loss. However, the FTC alleged that in one of these studies, subjects taking Xenadrine EFX lost an average of only 1.5 pounds over the 10-week study, while a control group taking a placebo lost an average of 2.5 pounds over the same period. The agency also said that consumer endorsers featured in ads were paid up to $20,000 for their appearances after losing weight with rigorous diet or exercise programs. In another case, seven marketers of CortiSlim and CortiStress agreed to pay an $8.4 million settlement, the FTC said. Nationwide ads for CortiSlim falsely claimed it could cause rapid and permanent weight loss, while CoriStress claimed it could reduce the risk of osteoporosis, obesity, diabetes, Alzheimer's disease, cancer, and heart disease, the FTC said. The companies settling included Window Rock Enterprises Inc. and Infinity Advertising Inc. Marketers of another diet pill, TrimSpa, agreed to pay a $1.5 million settlement, the FTC said. Ads for TrimSpa claimed it caused rapid and substantial weight loss and that one of its ingredients, Hoodia gordonii, suppressed appetite. In one ad, celebrity Anna Nicole Smith claimed to have lost 69 pounds in eight months by using the diet pill. The marketers involved in the TrimSpa settlement are Goen Technologies Corp., Nutramerica Corp., TrimSpa, Inc., and Alexander Szynalski. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. 2007 predicted to be world's warmest year Thu Jan 4, 2007 6:33am ET By Jeremy Lovell LONDON (Reuters) - This year is set to be the hottest on record worldwide due to global warming and the El Nino weather phenomenon, Britain's Meteorological Office said on Thursday. The Met Office said the combination of factors would likely push average temperatures this year above the record set in 1998. 2006 is set to be the sixth warmest on record globally. "This new information represents another warning that climate change is happening around the world," said Met Office scientist Katie Hopkins. The world's 10 warmest years have all occurred since 1994 in a temperature record dating back a century and a half, according to the United Nations' weather agency. Britain's Met Office makes a global forecast every January with the University of East Anglia, and said it expected the world's average temperature to be 0.54 degrees Celsius above the 1961-1990 long-term average of 14.0 degrees. There is a 60 percent probability that 2007 will be as warm or warmer than the current warmest year, 1998, which itself was 0.52 degrees above the long-term average it said in a statement. Most scientists agree that temperatures will rise by between two and six degrees Celsius this century due mainly to carbon emissions from burning fossil fuels for power and transport. They say this will cause melting at the polar ice caps, sea levels to rise and weather patterns to change bringing floods, famines and violent storms, putting millions of lives at risk. Former World Bank chief economist Nicholas Stern said in October that urgent action on global warming was vital and that delay would multiply the cost by up to 20 times. The Kyoto Protocol is the only global action plan to curb carbon emissions, but it expires in 2012, is rejected by the world's biggest polluter -- the United States -- and does not bind booming economies like China and India. The Met Office said the established moderate El Nino, a phenomenon in the tropical Pacific blamed for disrupting weather patterns, would continue for the first few months of 2007. It noted that as there was a time lag between El Nino and its full effect on surface temperatures, its influence would therefore be felt well into the year. It will coincide with what environmentalists say will be a very busy year for climate diplomacy. Germany, which has an active climate change agenda, has taken over the six-month rotating presidency of the European Union and the year-long presidency of the Group of Eight industrialized nations. Backed by Britain, which has pushed climate change high up the world agenda, pressure is building for the G8 summit in Germany in early June to set out a framework for discussions to take global action beyond Kyoto. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. Fortis launches life insurance firm in Russia BRUSSELS, Jan 4 (Reuters) - Belgian-Dutch financial services group Fortis (FOR.BR: )(FOR.AS: ) said on Thursday it had launched a life insurance company in Russia. The new company, Fortis Life Insurance, will focus on education plans, family protection plans and a corporate pension plan. Fortis has pledged to expand internationally so that at least 30 percent of net operating profit comes from outside the Benelux countries by 2009. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. High-Tech Resolution #1 For 2007: Ensure The Privacy Of Online Communications TORONTO, Ontario – Ensuring safe and secure online communications is certain to be high on the list of high-tech resolutions of businesses and consumers alike as we head into 2007. High-profile headlines and news stories throughout 2006 repeatedly underscored just how vulnerable email and unsecured files can be to hackers and anyone who has easy access to email interception software. More than nine million Americans were identity theft victims in 2006 at a cost estimated at over a billion dollars, and the predictions are that this number will only grow in 2007. With 1.5 billion email users now sending upwards of 135 billion email messages a day, resolving to protect online communications is even more crucial than losing that last 10 pounds you’ve vowed to shed. “Protecting emails should be a top priority in 2007 for anyone or any company that values their security and privacy,” notes Chris Erickson, Executive VP, Echoworx. “Most people have no idea that emails are ‘an open book’ and sending one is just like sending a post card through the postal system. It can be read by anyone who has the ability to intercept it. Anyone can easily download free software that allows them to grab information from emails. We are constantly reading stories on the rise in identity theft, stolen confidential information and invasions of privacy.” www.echoworx.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. Professor Moshe Milevsky Offers Insight for the Retirement Income University Monthly Series January 1, 2007 Variable Annuities Are Dangerously Underpriced Read any personal finance article about variable annuities, and you will be told that these products are inordinately expensive, offer stingy benefits and are sold by predatory stockbrokers who put their commissions before their clients. This decade-old notion, sacred to financial journalists, in part derives from studies conducted in the mid-‘90s by Professor Moshe Milevsky and Dr. Steven Posner, which conclusively demonstrated that variable annuities were a rip off because of skimpy benefits and high fees. Now, in an exclusive Research Magazine report called “Confessions of a VA Critic,” Professor Milevsky takes a fresh look at these products. Whether in response to bad press or competitive pressures, variable annuity companies have re-designed and re-priced these products in the last few years. And now, Milevsky says, “the relative value pendulum has swung in the opposite direction. I can no longer declare that investors are being overcharged.” The key difference is the replacement of a meager death benefit with a host of new “living benefits,” which Milevsky says has led to a virtual arms race among product providers whose “promises and guarantees might become difficult to keep.” With such generous benefits, Milevsky warns that professional financial advisors must be on guard about the financial strength of the guarantor. The article, Research Magazine’s January cover story, kicks off a new monthly series called Retirement Income University. “Taught” by Prof. Milevsky, one of the world’s leading authorities on retirement-related finance issues, the objective of the monthly series is to build both practical and conceptual knowledge of retirement planning. The “syllabus” for future months includes the “retirement risk zone;” the impact of income taxes; longevity and mortality expectations; retirees’ inflation rate (as distinct from the CPI for the general population); pensions; long-term care needs; insurance; products; and strategies. www.researchmag.com www.highlinemedia.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Healthways, Saint Mary’s Health Plans Extend Partnership Through 2010 Expanded Agreement to Add Care Support Programs for End Stage Renal Disease, CKD NASHVILLE, Tenn.--(BUSINESS WIRE)--Marking its fifth year of continuous partnership with Health and Care SupportSM leader Healthways (NASDAQ: HWAY), Saint Mary’s Health Plans of Reno, Nev., has signed a new, two-year agreement to provide Care support programs to members of its HealthFirst HMO plan and its self-insured employer groups though 2010. Under the new agreement, Saint Mary’s will add Healthways’ Care Support programs for end-stage renal disease (ESRD) and chronic kidney disease (CKD) to its current offering, which includes diabetes, cardiac disease, chronic obstructive pulmonary disease (COPD), asthma, impact conditions and high-risk care management. Safe Harbor Provisions www.healthways.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 20. INSURANCE NEWSCAST "Pictures Of The Day" -- Sponsored By:
View INSURANCE NEWSCAST "Sports Pictures Of The Day" View INSURANCE NEWSCAST "Entertainment Pictures Of The Day" Sponsored By:
21. Healthways’ Contract with Blue Shield of California Expanded New Three-Year Agreement Extends Coverage to Large Group Employers NASHVILLE, Tenn.--(BUSINESS WIRE)-- Healthways, Inc. (NASDAQ: HWAY) announced a new three-year agreement extension that will expand the reach of Healthways’ industry-leading Care SupportSM services to 600,000 additional members of Blue Shield of California’s fully insured population. The expanded agreement, effective January 1, 2007, provides Healthways’ industry-leading disease management programs including diabetes, coronary artery disease, chronic obstructive pulmonary disease and asthma to Blue Shield of California’s large employer groups. “We are pleased that Blue Shield of California has demonstrated again its commitment to improving member health and we look forward to working together to strive to improve the health and quality of life for additional members,” said Healthways President and CEO Ben R. Leedle, Jr. www.healthways.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. AIG Annuity Insurance Company Introduces IncomEdge Select: A Lifetime Withdrawal Benefit Option for More Effective Retirement Income Management HOUSTON--(BUSINESS WIRE)--AIG Annuity Insurance Company today announced the introduction of IncomEdge Selectsm , a lifetime withdrawal benefit option for new contract holders of its retail and bank proprietary fixed annuity products. Until now, lifetime withdrawal benefit options were thought to be available only on individual variable annuities and fixed indexed annuities. Contract holders who elect IncomEdge Select lifetime withdrawals are guaranteed not to outlive their income and can receive annual withdrawals of 5% without annuitization. The benefit guarantees an income for life, even if the account value declines to zero. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. DMW WORLDWIDE WINS PROFESSIONAL INSURANCE MARKETING ASSOCIATION (PIMA) MARKETING METHODS AWARDS Agency is honored for its work with Blue Cross Blue Shield clients WAYNE, Pa. — January 3, 2007 — Warren Hunter, President and CEO of DMW Worldwide LLC, announced that the agency has been honored with three prestigious Marketing Methods awards. The Marketing Methods awards, which honor the “best of the best” in insurance direct marketing, are presented annually by the Professional Insurance Marketing Association (PIMA). The 2006 awards presentation was made at PIMA’s MarkeTTechSM Symposium held in Chicago, Ill., in October. DMW and client BlueCross BlueShield of South Carolina won a Silver Award in the “Other Media” category for its See Jane direct response television commercial. The objectives set forth by the client were to beat the long-running control and to capture market share by targeting a previously untapped market segment. DMW targeted the 20-something “invincible” audience, defined as young adults who are just coming off their parents’ health plan and/or in a job that does not offer health coverage. BlueCross BlueShield of South Carolina had never directed a message to this audience before, so this creative execution was considered a risk. “See Jane,” a campy throwback with a modern twist, was considered a bold step which beat the control. www.pima-assn.org www.dmwdirect.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Payment Data Systems Signs Premier Insurance Provider to Multi-Year Payment Processing Agreement Adds Approximately $30 Million in Annual Transaction Volume SAN ANTONIO--(BUSINESS WIRE)--Payment Data Systems, Inc. (OTCBB:PYDS) today announced the signing of a multi-year agreement with a premier insurance carrier that is a listed member of Standard and Poor’s Mid-Cap 400 Index and traded on the NYSE. The auto-renewing agreement calls for Payment Data to provide payment processing services for the company and is expected to generate over $750,000 in gross revenue for Payment Data each year. The customer is scheduled to start processing early this month. www.billx.com www.paymentdata.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. Accident Compensation Corporation Goes Live with FINEOS Claims for Government Social Insurance FINEOS Streamlines Claims Management Operations for Public Agency DUBLIN, Ireland--(BUSINESS WIRE)--FINEOS Corporation, a global provider of innovative componentized software solutions for the insurance, government social insurance, and banking industries, today announced that the Accident Compensation Corporation (ACC) of New Zealand has gone live with the initial pilot of its FINEOS implementation. This is the first step in a broader business transformation initiative that ACC undertook to improve operational efficiency and adaptability. During the initial rollout, 400 users across New Zealand are using FINEOS, internally referred to as EOS for “new beginnings,” to process bodily injury, work cover, and other workers’ compensation claims. The first live week using EOS concluded with more than 2,000 new claims being processed efficiently and without incident. www.FINEOS.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. CHOICE Administrators® Introduces Errors and Omissions Coverage for California Health Brokers ORANGE, Calif.--(BUSINESS WIRE)--CHOICE Administrators® today announced that it has entered into an agreement with CalSurance to offer Errors and Omissions (E&O) Insurance coverage for brokers of CHOICE Administrators® programs including CaliforniaChoice, CaliforniaChoice 51+ and Kaiser Permanente Choice Solution. Coverage may be quoted, purchased and bound online instantly just by visiting the CaliforniaChoice, CaliforniaChoice 51+ or Kaiser Permanente Choice Solution websites, www.calchoice.com, www.calchoiceplus.com or www.kpchoicesolution.com, logging onto the broker’s home page, and clicking on the link “E&O Coverage for Brokers.” Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. Farmers Starts the New Year with New Discounts, Saving Customers up to 40% RICHMOND, Va.--(BUSINESS WIRE)--With one of the largest discounts offered in the industry, Farmers Insurance Group of Companies announced today savings of up to 40% for people who insure their home and automobile with Farmers. “On average our customers will see a 26% savings from this new discount, with a good number of people saving as much as 40%,” said Chuck Browning, State Executive Director of Farmers Virginia. “This is a great way for our customers to save money on something they already buy,” added Browning. Farmers is also offering various other smaller discounts and other adjustment to its Virginia customers. “Our goal is simple,” says Browning. “We want to grow our business in Virginia by being the best in all that we do and all while being the best priced insurance company.” In Virginia, Farmers is currently insuring more than 76,000 automobiles, over 51,000 homes, nearly 2,800 small businesses and the lives of over 13,000 Virginians. www.farmers.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
|
