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Complete information, including an audio overview of the association and meeting details can be found at www.workplacebenefits.org. The first year membership in the Workplace Benefits Association is complimentary. 1. AOL co-founder Case opens online health site
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. AIR Worldwide Estimates Winter Storm Kyrill Will Cause Insured Losses between €4 billion and €8 billion in Europe BOSTON--(BUSINESS WIRE)--Catastrophe risk modeling company AIR Worldwide Corporation estimates insured losses from Winter Storm Kyrill will be between €4 billion and €8 billion ($5.2 billion - $10.4 billion). The storm struck Europe with hurricane-force winds over the course of two days, causing significant travel and power disruptions, flooding, and building damage over a large part of Europe including the United Kingdom, France, the Netherlands and Germany. Winter Storm Kyrill is the worst storm to hit Europe in eight years,” said Dr. Peter Dailey, Director of Atmospheric Science for research and modeling at AIR Worldwide. “Kyrill produced winds in many parts of Europe that were strong enough to produce moderate levels of damage.” Winter Storm Kyrill winds were first felt on January 18th with maximum reported wind gusts of 137 kph in populated areas. Severe gale force winds uprooted trees, tore off roof tiles, and blew doors off buildings while freight trucks in England and Germany were tipped over by wind gusts. Flying debris, including falling tree limbs and billboards, caused significant building damage throughout the affected countries, smashing windows and damaging walls. Upwards of one million customers in Poland and the Czech Republic; 100,000 in northern France; 15,000 in Austria; and hundreds of thousands in the UK and Germany are without power. Widespread flooding has also been reported in coastal and low-lying parts of Germany, including parts of Berlin. As is common following strong extratropical cyclones, cold air is now funneling into Europe causing temperatures to plummet. “What was most notable about this event was its unusually large foot print,” continued Dr. Dailey. “The path of damaging winds extends north to south from Scotland to Switzerland and east to west from France to eastern Germany and beyond.” www.air-worldwide.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Credit Suisse proposes $6.4-bln share buyback By Andrew Hurst, European Banking Correspondent - ZURICH, Jan 22 (Reuters) - Credit Suisse (CSGN.VX: ) said on Monday it will propose returning up to 8.0 billion Swiss francs ($6.4 billion) to shareholders over three years and its chief executive firmly ruled out making any big acquisitions. CEO Oswald Gruebel said the bank saw no need to make any large-scale "transformational" acquisitions in order to grow and preferred to return any excess capital to shareholders. But he did not rule out smaller-scale purchases. "We will ... invest in businesses which fit our model and where we see the best long-term, sustainable returns," he told an investor day event in Zurich. CS shares were trading 1.39 percent higher at 1400 GMT. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. France's Groupama sells stake in reinsurer Scor PARIS, Jan 22 (Reuters) - French mutual insurer Groupama said on Monday it had disposed of nearly all its stake in French reinsurer Scor (SCOR.PA: ), selling 15.35 percent to generate a capital gain of around 120 million euros ($155.5 million). In October Groupama had said it could sell its stake in Scor if it needed to raise funds for a major acquisition. Groupama has also often said it could consider a stock market listing to raise further cash to develop its business. Groupama sold the stake to banks HSBC (HSBA.L: ) (0005.HK: ) and UBS (UBSN.VX: ), who will then place the Scor shares in the market. Scor has staged a fightback after suffering heavy losses in recent years from costly underwriting in the United States and the effects of the Sept. 11 attacks. The company overhauled its business, shut its U.S. non-life operations and is back in profit. Last July, it announced the acquisition of German life reinsurer Revios for 605 million euros. (additional reporting by Sudip Kar-Gupta) © Reuters 2007. All Rights Reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. Allianz says clears path for German revamp FRANKFURT, Jan 22 (Reuters) - Allianz (ALVGhttp://www.ihhttp://www.insurancebroadcasting.com/nsurancebroadcasting.com/.DE: ) on Monday said it had finalised the last details of its cost-cutting plan with employee representatives, clearing the path for sweeping changes in its German insurance operations. "This agreement is the final crucial step that clears the way for the planned implementation of the new operating model," Germany's largest insurer said in a statement. Allianz unveiled a plan two years ago to merge its separate German insurance operations into a single company, aiming for efficiency gains and savings of 600 million euros ($776.9 million) annually, but at a cost of 5,700 jobs by the end of 2008. It reached basic agreement on the job cuts with employee representatives and unions in November. The final rules for putting the new structure into effect run to more than 1,000 pages, Allianz said. © Reuters 2007. All Rights Reserved. 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6. InsuranceBroadcasting.com Announces “Insurance TechWeek” Cleveland, OH - - 01/22/07 - - InsuranceBroadcasting.com has announced the launch of “Insurance TechWeek.” The online publication will be integrated with INSURANCE NEWSCAST, a daily newsletter subscribed to by over 450,000 insurance industry professionals. Insurance TechWeek will be published each Tuesday as a supplement to INSURANCE NEWSCAST and also available directly at www.itechweek.com. The Tuesday, January 23rd edition has over 30 technology articles related to the insurance industry and is also available as a podcast to listen to on a desktop or downloaded to a mp3 player or CD. InsuranceBroadcasting.Com is a next generation media organization facilitating the exchange of information between insurance professionals; utilizing the improvements available from emerging technology to deliver meaningful information The Insurance Broadcasting Corporation business model includes the companies and services below:www.insurancebroadcasting.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. New FASB Tax Ruling, Sarbanes-Oxley Fall Short of Giving Investors All Information They Need Says Former Chief IRS Counsel Auditor Independence Issues Highlighted NEW YORK, Jan. 19 /PRNewswire/ -- Despite Sarbanes-Oxley mandates and the just-released FIN 48 Financial Standards Accounting Board (FASB) ruling requiring publicly-traded companies to provide more transparency and information about their tax positions and tax reserves, "there is still a long way to go to protect shareholders, who need to get the best possible financial information -- at once reliable, devoid of bias or conflict, and subject to real, independent review," Stuart E. Seigel, former Chief Counsel of the Internal Revenue Service, told a gathering of business executives today at New York's Metropolitan Club. Mr. Seigel, Chairman and CEO of Seigel & Associates, LLC, a tax advisory service, said that Sarbanes-Oxley has not yet remedied the serious problem of inappropriate or inadequate financial reporting, citing the mounting number of restatements of financial results since the law was enacted over four years ago. In the first nine months of 2006 alone, he pointed out, there were no less than 967 such restatements, noting that stock option backdating has recently triggered a flood of such restatements. "What this means," the speaker added, "is that we can anticipate a renewed and ongoing effort to improve financial reporting compliance and review even more, and that the laws and procedures that followed in the wake of the now infamous accounting scandals will all be with us for the foreseeable future." www.seigel-llc.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. Conning Research: Potential for Antiselection and Arbitrage in the Life Industry is on the Rise HARTFORD, Conn., Jan. 22 /PRNewswire/ -- The life insurance industry is facing a change in the way investors, agents and individuals respond to the increasing availability of financial and medical information, according to a new study by Conning Research & Consulting, Inc. New advances in medical technology and the availability of medical, genetic, and lifestyle information increase the threats of antiselection and arbitrage in life insurance, but also present opportunities for insurance companies. "The threats of information being exploited by investors, agents and individuals against insurers have been around forever, but until recently, the insurance industry viewed them as merely nuisances. Now we see a renewed threat to life insurers due to increases in product complexity and broad dissemination of information that previously had been available only to the insurer," said Terence Martin, analyst at Conning Research & Consulting. "The emergence of investor-owned insurance, like Life Settlements, may be the tip of the iceberg. However, new product choices and broader availability of information present opportunities for insurers to improve their underwriting, and to create new product features that will be rewarded in the marketplace." The Conning Research study, "Arbitrage and Antiselection in Life Insurance: The Information Opportunity," identifies specific threats and opportunities to the industry, quantifies the possible impact, and analyzes what companies can do to prosper in this new environment. "Our study looks at the increased number and possible combinations of riders and guarantees, and the resulting inevitable inconsistencies that increase the number of arbitrage opportunities," said Stephan Christiansen, director of research at Conning Research. "We also analyzed the changes in information availability that may be shifting the information advantage, and quantified a possible 20 percent profit swing for life insurers. This represents a sizeable threat or opportunity depending on the company's product offerings, and its response to this changing information landscape." "Arbitrage and Antiselection in Life Insurance: The Information Opportunity" is available for purchase from Conning Research & Consulting, Inc. by calling (888) 707-1177 or by visiting the company's web site at http://www.conningresearch.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. BestWeek: NAIC 2006 Models Could Spark Debate in 2007 State Legislative Sessions OLDWICK, N.J.--(BUSINESS WIRE)--In the regulatory world, January is the starting block for model laws of the National Association of Insurance Commissioners that were passed in the previous year. Some of the 2006 bills proposed are sure to raise debate as they hit state legislatures across the country. Others, having been well vetted during the hearing process, are not slated to be pursued. The Jan. 22 BestWeek takes a look at the progress these models law are expected to make in the coming year. "As far as the most recent model laws that would have been eligible for advocacy last year and going forward, from NAMIC's perspective, we're probably more concerned with playing defense on a couple of them—the larger ones that we think are incomplete or downright troubling," said Neil Alldredge, vice president of state and regulatory affairs with the National Association of Mutual Insurance Companies. www.ambest.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. The American College's National Financial Awareness Day To Help Consumers Create Financial Security If you couldn’t work, could you maintain your lifestyle? Consider the following...
According to Guardian Disability Insurance, as medical technology improves, your chances of surviving an illness or accident increases. Suffering a disability is more likely than being in an auto accident, dying or having a fire in your home. One out of seven employees will be disabled for five years or more before retirement. Commissioners Disability Table, 1998. What are the chances of becoming disabled? According to Disability Insurance Resource Center:
To address this important issue, The American College, the nation’s leading financial services educator, will sponsor, National Financial Awareness Day on Tuesday, March 6, 2007. This national initiative is designed to enhance consumers’ financial security. This year’s theme focuses on the importance of disability income protection. As part of the event, financial advisors across the country will open their practices on a pro bono basis to in an effort to answer consumer questions, offer individual counseling and sponsor informational seminars on financial security issues. Activities associated with National Financial Awareness day are being offered as a free public service. www.TheAmericanCollege.edu Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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11. Scottish Re Group Limited Schedules Extraordinary General Meeting HAMILTON, Bermuda, Jan. 19 /PRNewswire-FirstCall/ -- Scottish Re Group Limited (NYSE: SCT), a global life reinsurance specialist, today announced it will hold an Extraordinary General Meeting of Shareholders at 11 a.m. local time on Friday, February 23, 2007 to vote on its previously announced agreement between Scottish Re Group Limited ("Scottish Re") and MassMutual Capital Partners LLC and certain affiliates of Cerberus Capital Management, L.P. (the "Investors"). The meeting will be held at the Fairmont Hamilton Princess Hotel, located at 76 Pitts Bay Road, Pembroke HM11, Hamilton, Bermuda. www.scottishre.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. Consumers Need Real Health Care, Energy Solutions from President's Agenda, Says Consumers Union Tax Breaks Don't Solve Lack of Health Insurance, Energy Alternatives WASHINGTON, Jan. 19 /PRNewswire-USNewswire/ -- President Bush's expected call Tuesday for more tax breaks for buying health insurance, and more incentives for increasing the use of alternative fuels, falls short of laying out a real, comprehensive plan to address the nation's growing health care and energy problems, Consumers Union said. "Last year the President made health care and energy reform key parts of his agenda, and we're still looking at record numbers of uninsured Americans and a growing reliance on oil," said Bill Vaughan, senior policy analyst for Consumers Union. "If the President really wants to take the lead on skyrocketing health care costs and securing our nation's energy future, he must put forth comprehensive strategies that truly help consumers," Vaughan said. The President is expected to propose tax breaks for those purchasing their own health insurance as a solution to helping the 46 million of Americans without health coverage. But most low and middle-income families don't have enough income to purchase health insurance even with tax breaks, Vaughan said. "Tax deductions do little or nothing for those people who are uninsured and devastated by high health care costs," Vaughan said. "When an individual family policy for decent health coverage costs about $11,000 a year, tax credits of $1,000 to $3,000 to buy insurance are almost meaningless." Bush also is expected to continue pushing tax-free savings accounts for high-deductible insurance policies. "Giving tax breaks only encourages healthier and wealthier people to opt-out of traditional employer-based insurance, leaving behind a fractured insurance pool that hurts the older and sicker," Vaughan said. Consumers Union also is urging the President to support legislation to allow Medicare to negotiate lower drug prices for seniors, and to adequately fund drug safety efforts. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. Change to Win Pushes for Real Action on Health Care Union Members Mobilizing to Call for Solutions to the Crisis WASHINGTON, Jan. 19 /PRNewswire-USNewswire/ -- With a new Congress in session and the start of the presidential campaign season, the seven major unions of the 6-million strong Change to Win are stepping up grassroots efforts and calling for partnerships in the political arena to push for quality, affordable health care for all. Change to Win Chair Anna Burger today sent Congress a letter detailing a set of principles on comprehensive health care reform and urged leaders in both parties to work with unions, employers, providers and other stakeholders to solve the national crisis that has left 47 millions uninsured, and millions more underinsured. "Skyrocketing costs are the most pressing threat to American families, our communities, and the ability for U.S. businesses to compete in the 21st century," Burger said in the letter. "Union members will be a key element to reforming our system to meet the realities of today's economy." Change to Win's principles for creating an American health care system built on our nation's values:
"Workers want action on health care now," said Burger. "Our members are ready to work with our employers and leaders from both parties to fix our broken system." The text of the letter and the full principles are available here: http://www.changetowin.org/issues/health-care. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. Goldman, Lehman to axe floor trading jobs Fri Jan 19, 2007 12:36pm ET - NEW YORK (Reuters) - Goldman Sachs Group (GS.N: ) and Lehman Brothers Holdings Inc. (LEH.N: ) plan to shut down their direct access floor broker businesses and fire traders at the New York Stock Exchange next month, as more trading activity moves to electronic networks, the banks said on Friday. Goldman spokesman Ed Canaday in an e-mail on Friday declined to provide details about its floor business plans but confirmed it was "restructuring." The cuts affect NYSE floor brokers who directly service Goldman clients, as opposed to dealing with orders channeled through the firm's sales and trading desks. The New York Post on Friday reported Goldman would cut nine trading floor jobs. Goldman said people who lose their jobs will continue working at the bank for 60 days. Lehman Brothers spokeswoman Kerrie Cohen said the investment bank decided to exit the floor-based direct access business. The bank cut six traders as part of the move, a source familiar with the matter said. These moves come as more trading volume shifts from traditional open outcry to faster, cheaper electronic systems. The NYSE in recent months rolled out a "hybrid" trading system, which has accelerated the shift of trading volume from the floor. Earlier this week, Bank of America's (BAC.N: ) specialist business laid off 40 NYSE employees and said 20 to 40 more jobs may be cut. LaBranche & Co. (LAB.N: ), the Big Board's leading specialist firm, fired about 165 traders between 2001 and December 2006. The company's chief executive said in December that LaBranche could lay off another 80 or so traders in coming months. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. Two Ex-NYSE traders each get 6 months for fraud Fri Jan 19, 2007 3:36pm ET - NEW YORK (Reuters) - Two former New York Stock Exchange traders were each sentenced to six months in prison on Friday for securities fraud related to improper stock trades. U.S. District Judge Sidney Stein sentenced Michael Hayward and Michael Stern, and fined them $250,000 each. Hayward faced a sentence of up to 21 to 27 months. The judge allowed him to remain free on bail while he pursues an appeal. The traders, specialists on the NYSE floor, were each found guilty in July of one count of securities fraud in a trial in Manhattan federal court. They were acquitted of three other counts. Hayward and Stern were indicted in April 2005 along with 13 others. Prosecutors said they participated in schemes to trade ahead of investor orders for stock trades, violating NYSE rules. Hayward's lawyer urged Judge Stein to impose no prison term, saying his client received "almost no personal gain" from the trading activity. But the judge disagreed. "This man knew what he was doing," the judge said, adding from the bench that Hayward undermined the fairness and transparency of the NYSE through his conduct. Both Hayward and Stern had worked at Van der Moolen Specialists USA, a unit of Amsterdam-based Van der Moolen Holding NV (VDMN.AS: ). © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. Wall Street asks SEC to delay market data rulings Fri Jan 19, 2007 9:01pm ET - By Joseph A. Giannone - NEW YORK (Reuters) - Wall Street's lobbying group has asked the U.S. Securities and Exchange Commission to delay any rulings that would let stock exchanges sell real-time pre-trade stock data to Internet sites. The Securities Industry and Financial Markets Association on Friday said it urged the SEC to implement a moratorium on market data rule filings until the agency addresses "fundamental legal and policy issues" created by the for-profit status of stock exchanges. The NYSE last week asked the SEC to approve a program that could bring real-time final-trade quotes to Internet users in exchange for payments from Web site owners of $100,000 a month. Most Web sites, which typically serve small investors, provide stock trades that are delayed by 20 minutes. Citing the exchanges' control of market data, SIFMA said the SEC first should review the underlying cost data and competitiveness issues for all exchanges that provide pre-trade data. The SEC also should determine whether appropriate access to the product would be available and if the proposed fee were fair and reasonable. "The SEC cannot simply ignore the conflicts of interest inherent in today's for-profit exchanges," SIFMA co-Chief Executive Marc Lackritz said in a statement. "The exchanges' unique regulatory status allows them to profit from their market data without the threat of competition." Lackritz added that "all investors and the professionals who serve them" must have access to the same quotes. An SEC spokesman on Friday declined to comment on the request to delay. NYSE Group Inc.'s (NYX.N: ) Ron Jordan, senior vice president of market data, said real-time data is already widely available to all individual investors. "Consumers should have access to as much choice in data products as possible, and that's what the NYSE will continue to provide," he added. An NYSE executive last week told Reuters the service could be rolled out as soon as March, depending on the length of the SEC approval process. The NYSE said some information, like trade size, would not be sold as part of the program. Previously, Google Inc. (GOOG.O: ) and business news television station CNBC have said they would offer data for free to their users. NYSE also has held talks with other Internet companies, such as Yahoo Inc. (YHOO.O: ). Google is a member of a group called NetCoalition, which has complained about a lack of real-time stock data offered through services owned by the NYSE Group and Nasdaq Stock Market Inc. (NDAQ.O: ). (Additional reporting by John Poirier in Washington, Dan Wilchins and Jonathan Keehner in New York) © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. JPMorgan, Citigroup CEOs get big stock awards
JPMorgan disclosed Dimon's award in a U.S. Securities and Exchange Commission on Friday. Citigroup disclosed Prince's award in a late Thursday filing with the agency. Dimon's restricted stock award was 3 percent greater than a year earlier, when JPMorgan awarded him $12.6 million as part of his total compensation of $22.3 million for 2005. Prince's award grew 11 percent from $9.67 million, which was part of his $23 million of compensation for 2005. JPMorgan on Wednesday posted a 48 percent gain in fourth-quarter operating profit, while Citigroup posted a 3 percent increase. Both results topped analysts' forecasts. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. INSURANCE NEWSLINK Articles Recent articles added to INSURANCE NEWSLINK, the worldwide, strategic concise intelligence database of over 27,000 articles including interviews, uniquely analysed by company, market, research, regulatory, and IT topics. Please click here for a content overview and a 15-day free review. THE TIME EFFECTIVE WAY TO STAY AHEAD
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21. BANK INSURANCE NEWS IN BRIEF - JANUARY 22, 2007 TODAY'S BANK INSURANCE NEWS IN BRIEF" is provided each week courtesy of Michael White Associates @ www.bankinsurance.com. To read these stories, visit http://www.bankinsurance.com/editorial/news/default.htm
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. CEO succession is lacking at many big companies Fri Jan 19, 2007 11:32am ET - By Martha Graybow - Lifting the Lid - NEW YORK (Reuters) - U.S. chief executives are being shown the door at a record pace, but recent surveys suggest that many companies remain unprepared to find a new CEO in a hurry. Planning for CEO succession is considered one of the most important tasks of corporate directors, but surveys of board members suggest that companies often don't have very good plans in place for tapping a replacement -- especially in emergencies such as when a CEO suddenly resigns or dies. Boardroom experts say directors are more aware of the issue than before, in part because CEO turnover has been so heavy lately, but that board members still don't spend enough time on formal planning for succession. They say succession has always been a tricky boardroom topic because there is no guidebook on how to pick a replacement-in-waiting. Also, experts say many boards traditionally have deferred too much to the current CEO -- who might not be eager to discuss the possibility of his or her sudden death or departure or want to groom a successor ready to move into the corner office at a moment's notice. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Clients Utilizing Curian’s Tax Harvesting Program Generated More Than $1.5 Million in Potential Savings During 2006 DENVER--(BUSINESS WIRE)--Curian Capital, LLC ( www.curian.com ), a registered investment advisor providing fee-based separately managed accounts (SMAs) to financial professionals through an innovative technology platform, today announced that the company’s tax harvesting program allowed its clients to save more than $1.56 million in potential capital gains taxes1, subject to each client’s unique tax situation, for calendar year 2006. By year-end, nearly 500 financial professionals “harvested” over $5.2 million of losses on behalf of 2,200 accounts on the Curian platform. “Tax harvesting is an under-utilized process in the managed account industry, yet we’ve seen our distribution partners gravitate toward the Curian program at more than double the industry average2 because we’ve made it completely electronic and easy to use,” said Michael Bell, president and chief executive officer of Curian Capital. “Tax harvesting allows financial professionals to work with clients and tax advisors to manage capital gains exposure and effectively deliver a better after-tax result for the portfolios that incorporate our unique approach to limiting associated risks. Ultimately, a service like tax harvesting serves to deepen the advisor-client relationship by adding value on a whole new level.” Tax harvesting is the process of selling securities, typically at year-end, to realize capital losses (or gains) that can be used to offset capital gains (or losses) and other investment income such as dividends and interest. The goal is to lower the investor’s short- and long-term capital gains tax liability for the year. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. AIG American General Launches Bilingual Customer Service Call Center Dedicated to Hispanic Individual Life Insurance Policyowners HOUSTON--(BUSINESS WIRE)--American General Life Insurance Company (American General Life) and The United States Life Insurance Company in the City of New York (United States Life), member companies of American International Group, Inc. (AIG), have launched a bilingual customer service call center specifically for Hispanic individual life insurance policyowners. Callers who dial the call center’s dedicated toll-free number, 1-800-835-6458, have access to bilingual (Spanish- and English-speaking) customer service representatives, Monday through Friday, 9 a.m. to 6 p.m. (Eastern Time), to answer questions and assist with service requests on in-force individual life insurance – including universal life, term life and whole life – and individual supplemental health insurance policies issued by American General Life and United States Life, which are branded as “AIG American General,” the marketing name for the insurance companies and affiliates of AIG that comprise its domestic life insurance operations. www.aigag.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. AAA Says Motorists Who Drive with Cracked or Damaged Windshields May Be Placing Themselves in Harms Way ORLANDO, Fla.--(BUSINESS WIRE)--When consumers commonly think of safety features in a new vehicle or truck, safety belts, air bags, and anti-lock brakes may quickly come to mind. However, a relatively unknown fact is that a vehicle’s windshield also plays a pivotal role in overall automobile safety. Windshields not only support the roof of your vehicle, says AAA, they also protect motorists from being ejected during head-on collisions, roll-overs and vehicle crashes when combined with the use of a safety belt. “Driving with a damaged or cracked windshield can hinder a motorist’s visibility and also compromise the structural integrity of the automobile during a roll-over incident,” said John Nielsen, Director of AAA’s Approved Auto Repair program. www.AAA.com www.myautoglass.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. Nationwide Survey Shows Startling Number of Americans Guilty of DWD Culture of Multitasking Spreading to the Roads, Leading Many to “Drive While Distracted” COLUMBUS, Ohio--(BUSINESS WIRE)--You’ve seen them in your rear view mirror or in the car next to you. Sometimes they’re putting on makeup while steering with their knees, punching text messages into a phone without ever looking up at the road, or using a BlackBerry to read e-mail with one hand and steering with a cup of coffee in the other. Or, perhaps you’ve seen – or even done – worse. A new survey by Nationwide Mutual Insurance shows “Driving While Distracted” (DWD) is quite prevalent among today’s drivers and more dangerous than you might think. In fact, the National Highway Traffic Safety Administration says distracted drivers account for almost 80 percent of all crashes in the U.S. As found by Nationwide’s survey, even those who perceive themselves as safe drivers admit to doing outlandish things behind the wheel, including changing clothes, balancing a checkbook and shaving. www.nationwide.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. AXA Equitable Announces New Five-Product Term Life Insurance Portfolio NEW YORK, Jan. 22 /PRNewswire-FirstCall/ -- AXA Equitable introduced today a new series of term life insurance products. The five-product Term Series(SM) includes redesigned 10-, 20- and 30-year level-term products, a new 15-year level-term product, and a redesigned annual renewable term (ART) product. The series introduces a new underwriting class for consumerswith minor health issues and long conversion periods that allow clients to switch to permanent life insurance coverage. "AXA Equitable's Term Series(SM) is designed to competitively meet the varying financial needs of consumers in different life stages," says Barbara Goodstein, AXA Equitable Executive Vice President, Marketing and Product Development. "That includes younger people who do not currently have the discretionary income to buy permanent cash-value life insurance, but need life insurance protection now." Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. KeepYouSafe.com Launches Online Safe Deposit Box; Grabs Angel Funding Military-Grade Encryption Service Keeps Important Financial and Personal Documents Safe, Secure, and Private New York, NY - January 22, 2006 - KeepYouSafe.com ( www.keepyousafe.com ), a Web-based personal information security company, today launched an Online Safe Deposit Boxsm service to store and protect consumers' vital documents and information - financial records, medical records, wills, insurance policies. In addition, KeepYouSafe.com announced it has raised an initial round of angel funding from private investors to bolster its marketing and sales efforts. With KeepYouSafe.com, launched by two certified information security professionals with decades of experience in keeping critical data safe and secure, consumers can securely store their most important records online and can access those stored records from anywhere, at any time, via the Internet. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 29. USA-ASSIST begins selling on-line GlobalTrip cancellation insurance: an international worldwide protection for business and leisure travelers. USA-ASSIST has launched the GlobalTrip Cancellation insurance. GlobalTrip is available for any country citizen traveling outside of his/her country of residence. Insurance brokers and travel agents can sell on-line the GlobalTrip Cancellation plans making the documentation for traveling available to their clients in less than 5 minutes. The insured ID card and the certificate of insurance are delivered on-line. GlobalTrip cancellation plan can not be sold within the USA. For more information about GlobalTrip cancellation and other USA-ASSIST travel insurance plans you can visit www.usa-assist.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 30. Qtrade Financial Group Signs With ADP for Real-Time Brokerage Services Platform NEW YORK, NY -- (MARKET WIRE) -- January 22, 2007 -- ADP Brokerage Canada, a division of Automatic Data Processing's (NYSE: ADP) Brokerage Services Group, announced today that the Qtrade Financial Group has signed a multi-year contract to use the ADP Dataphile platform for its retail brokerage services. The Qtrade Financial Group continues to experience significant growth in the Canadian wealth management market while leading the industry in customer satisfaction and service. To ensure continued success, the Qtrade Financial Group required a platform that can respond quickly to an ever-changing market and scale efficiently across multiple business divisions like its online brokerage division Qtrade Investor, ranked as the Number 1 Online Brokerage in Canada, and Qtrade Advisor, its full-service brokerage division. www.adp.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 31. Professional Insurance Agents Of Oregon (PIA) - Reaction to Construction Claims Task Force Report The Professional Insurance Agents of Oregon—the PIA—has monitored the activities of the Construction Claims Task Force from its first meeting until the release of today’s report. We applaud the efforts of the Construction Claims Task Force and its attempt to improve the insurance marketplace for construction contractors and consumers. While the PIA does not agree with all 11 points in the final report, we do believe that in time—and with proper implementation—many of the task force’s suggestions will help improve the cost of doing business for contractors. That translates to homes that are better built and safer for consumers. The PIA recognizes that the insurance marketplace for contractors is improving in Oregon and—again, if implemented properly—the insurance recommendations within the report will be good for everyone. The better education and building code requirements that could come as a result of this report and the task force’s efforts will help to decrease claims in the future and thus costs to contractors and consumers. www.piawest.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 32. After 125 Years, Independent Insurance Agents, Brokers of NY Represent Professionalism, Community Involvement (DeWitt, New York, Jan. 19, 2007) — New Yorker Chester A. Arthur occupied the White House. The Brooklyn Bridge–an engineering marvel–was nearing completion. A trade association founded in Buffalo would later evolve into the Independent Insurance Agents & Brokers of New York, Inc. The common thread running through these occurrences is the year 1882.From Manhattan to Massena, Albany to Amherst, independent agents and brokers have made their community an essential part of doing business. www.iiabny.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 33. Report Releases Prescription Drug Savings Statistics for Free Prescription Drug Card Holders Baton Rouge, LA – January 22, 2007 – YourRxCard ( www.YourRxCard.com ) has issued its December claims report on member savings, prescription drug purchasing habits, and predictions of future drug benefits and reach. YourRxCard is a Web-activated, free prescription drug card available to all Americans with no deductibles, pre-existing exclusions, or waiting periods to help with the increasing costs of prescription drugs. The card acts as a free repeat cash coupon on prescriptions. Users of the free prescription drug card used 72.42% generic drugs and 27.58% brand name drugs in November, as opposed to most employer-provided prescription PBM benefit cards typically used for 25% generic drugs and 75% brand name drugs by members, according to YourRxCard’s Chief Risk Officer, Rex Bowden Jr. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 34. Tips to Help Retain a Robust and Healthy Brain MetLife Offers Publications to Positively Impact Physical and Mental Health NEW YORK--(BUSINESS WIRE)--Making lifestyle choices that can help maintain a robust and healthy brain is an important practice, say experts on brain health. Even if it wasn’t on the top of your list of New Year’s resolutions, you can make a significant difference in the years ahead by developing good habits to positively impact physical and mental health. To assist in this resolution, MetLife offers two publications: a free brochure, entitled About…Healthy Aging, available by calling 1-800-MY-AGING (1-877-692-4464), and Ten Tips for Maintaining a Healthy Brain, which was produced for the MetLife Mature Market Institute® (MMI) by Paul Nussbaum, Ph.D., a clinical neuropsychologist, who is author of Love Your Brain, a book published by the MMI. More than 4.5 million people in the United States have Alzheimer's disease, and 19 million have a family member who suffers from the disease or other form of dementia. www.metlife.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 35. ACE GROUP ENDOWS NEW SPENCER EDUCATIONAL FOUNDATION SCHOLARSHIP NEW YORK, N.Y., January 16, 2007 – Spencer Educational Foundation, Inc., an organization dedicated to supporting undergraduate and graduate students in the risk management and insurance disciplines, has received a $100,000 commitment from the ACE Group of Companies, to be contributed over a four-year period beginning December 2006. The scholarship has been created in memory of William J. Clagnaz, senior vice president, underwriting at ACE USA Global Property in New York. The ACE Group of Companies is a leading global provider of commercial property and casualty insurance and reinsurance. www.spencered.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 36. Blue Shield of California Life & Health Launches Simplified 'Balance' and 'Essential' Plans SAN FRANCISCO, Jan. 16 /PRNewswire/ -- Continuing its push to make health insurance easier for consumers, Blue Shield of California has launched new simplified low-cost plans -- a "Balance" plan portfolio for individuals and families and an additional "Essential" plan for individuals -- that provide comprehensive benefits at low premium rates. The plans from Blue Shield of California Life & Health Insurance Company are available for February 1, 2007, effective dates. Blue Shield's new Balance Plans* offer a balance of coverage and price designed to meet the needs of families or individuals, featuring coverage for preventive care, routine office visits and more, all with competitive premiums, affordable out-of-pocket maximums and a choice of mid-range deductible levels of $1,000, $1,700 and $2,000. Balance plans also include full coverage for generic prescriptions for a $10 copayment and no-deductible emergency room benefits, as well as access to chiropractic care and acupuncture. www.blueshieldca.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article |
