Daily Quote: "It is no use walking anywhere to preach unless our walking is our preaching." - - St. Francis of Assisi
House Of Blues Foundation Room reception added to Workplace Benefits Renaissance 2007 schedule! The Foundation Room at HOB New Orleans is a members-only secluded club with unparalleled elegant space for professional and personal entertaining. Attendees of Workplace Benefits Renaissance 2007 will be welcome to participate in a special no-host reception and/or dinner on Tuesday evening, 02/13/07 from 7:00 - 10:00 p.m. If you haven't been to any of the HOB Foundation Rooms, they are extra-special and this will be a great networking opportunity for workplace benefit professionals.
The complete information is available at www.workplacebenefits.org and you can apply for a 1-year complimentary membership if you are interested. There is also a short 6-minute audio of the association's approach to the workplace benefits market. 1. U.S. not scared enough of bird flu, Senate told Thu Jan 25, 2007 8:25am ET - By Maggie Fox, Health and Science Editor - WASHINGTON (Reuters) - Bird flu poses as big a threat to the world as ever, and people need to worry about it more, U.S. senators and health leaders agreed on Wednesday. The H5N1 avian flu virus could cause a human pandemic at any time, killing perhaps millions, yet preparations are slow, they told a Senate hearing. Federal health officials said they were working to raise preparedness, although progress has been slowed by budget limitations and the generally poor state of public health in the United States. "I am concerned that there is not as much public awareness or concern today as there was a year ago," Pennsylvania Republican Sen. Arlen Specter told the hearing of the Senate Appropriations subcommittee on health. "You don't want to unduly alarm people. (But) I think people are unconcerned. "Part of the reason may be influenza's seasonal nature. A year ago, H5N1 in birds was bursting out of Asia and making a quick march across Europe, eventually reaching the Middle East and into Africa. But it did not spread much in the summer and autumn. It has started to become more active again. Hungary confirmed an outbreak in geese on Wednesday, the European Union's first case this year. Five people have died of the H5N1 virus in Indonesia since January 1, and new cases in poultry have been reported in Japan, Thailand and Vietnam. China, Egypt and South Korea have also reported cases in recent weeks, with three new human cases in Egypt and one death there this year. H5N1 is known to have infected 269 people worldwide since late 2003 and of these, 163 have died. "People who fail to prepare for a flu pandemic are going to be tragically mistaken," Dr. Julie Gerberding, director of the U.S. Centers for Disease Control and Prevention, told the hearing. "It is inevitable," she added. "I don't know when and I don't know which virus will be the culprit." MUTATING AND EVOLVING H5N1 is currently the most likely, said Dr. Anthony Fauci, head of the U.S. National Institute of Allergy and Infectious Diseases. "It's moving biologically," Gerberding said. "It's mutating and evolving." She said the CDC would encourage states to act out pandemic scenarios. "We think this is ultimately the best way to end up with the preparedness we need," she said. Gerberding said a delay in passing 2007 spending bills has hurt efforts to prepare. Congress is currently funding the agencies through what are known as continuing resolutions, not permanent budget commitments. Next week, the U.S. House of Representatives hopes to pass a continuing resolution stretching through the end of the fiscal year, September 30. And public health had been neglected for decades in the United States. "We were in a very deep hole on the state and local level," Gerberding said. "We were starting from behind." Health experts want more people to get seasonal influenza vaccines, both to protect themselves and encourage more companies to make flu vaccine. Roche and Co., which makes the flu drug Tamiflu, said on Wednesday only 29 U.S. states had ordered Tamiflu so far and few had ordered their full allocation. But the company said it had sold the drug to more than 300 companies and increased its global production capacity for Tamiflu 10-fold to 400 million treatment courses annually. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. MARKET SOFTENING CONTINUES IN ALL BUT CAT-PRONE AREAS WASHINGTON – Commercial insurance premiums continued their decline in all but catastrophe-exposed areas during the fourth quarter of 2006, with insurers willing to lower prices and place fewer restrictions on coverage to get new business, according to the latest market survey by The Council of Insurance Agents & Brokers. “There is no underwriting,” a broker from the Midwest responded when asked for general market observations. Although most agents and brokers did not go that far in describing the market, they did report a definite softening, with insurers offering better and broader terms and lower deductibles for almost all classes of commercial p/c coverage. “Insureds are getting more for their money,” said an agent from the Southwest. As has been the case since the fall of 2005, the exception to the general market trend was coastal property, particularly Florida accounts, where wind coverage capacity remained scarce and costly. Earthquake and other coverages for cat-exposed property also were expensive and hard to find, respondents said. An analysis of The Council’s survey data by Lehman brothers showed an average rate decline of 9.6 percent for commercial p/c accounts of all sizes during fourth quarter 2006. With an average decline of 12.1 percent for large accounts and 6.3 percent for small accounts, both of those categories hit their lowest rate of decline point since The Council surveys began in 1999, Lehman’s analysis showed. Mid-sized accounts reached their low point during the second quarter 2005. The highest premium increases came during the fourth quarter of 2001, right after the 9/11 terrorist attacks. Eighty-six percent of brokers responding to the survey said premiums for their small accounts held steady or declined during the fourth quarter 2006 compared with the previous quarter; and the majority – 48 percent – reported a drop of 1 to 10 percent. For medium and large accounts, the brokers said more than 80 percent of their account renewals experienced premiums drops of 1 to 20 percent. In addition to the general market softening in virtually all classes of commercial property/casualty accounts, it appeared that the standard markets are making room for some accounts that previously were handled as surplus lines. *For the full survey results, please go to www.ciab.com/marketsurveyQ406 Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. MetLife Study Reveals That the American Dream is Still Alive, Yet the Erosion of Corporate Benefit Programs and Social Safety Nets Has Put the Dream at Great Risk Financial Security is the Defining Element for All Generations, Ahead of Home Ownership and a Happy Family Life WASHINGTON--(BUSINESS WIRE)--A new study commissioned by MetLife reveals that the American dream is still alive yet the erosion of corporate benefit programs and social safety nets has put pursuit and attainment of the dream at great risk. The MetLife Study of the American Dream reveals that the dream is being propped up by American optimism; while a majority (66%) of Americans feel they have yet to achieve the dream, they remain optimistic about the future and feel it’s still possible to achieve the American dream in their lifetime (67%). The study, unveiled today at a National Press Club briefing hosted by MetLife, a leading insurance and financial services company, reveals that working Americans are deeply engaged in what can be characterized as a “chase” of the dream. This chase is occurring in an environment where financial burdens are shifting to individuals, and away from the government and employers. Today, Americans are clearly feeling the impact of these increased financial burdens -- the debate about the future viability of government programs such as Social Security and Medicare, declining pensions and the growing affordability crisis -- and they are showing signs of financial stress. “The financial burden shift is having profound implications on how Americans define and approach the American dream,” said Rob Henrikson, chairman, president and CEO of MetLife, Inc. “Where previously the American dream was defined as a combination of homeownership, a happy family life, and financial security stemming from a stable career, the defining theme now is almost a singular desire for financial security.” “With all the forces going against them, the affordability crisis, the bar continually rising and the feeling that the deck is stacked, Americans still want to believe in the dream,” added Henrikson. According to Kevin Phillips, strategic advisor to President Nixon and author of two recent New York Times bestsellers, American Dynasty and Wealth and Democracy, who spoke at the National Press Club event, “The increasing burdens being felt combined with the redefined American dream begin to explain why the traditional macroeconomic indicators –- GDP growth, the unemployment rate, and household income –- no longer strongly correlate with the public’s perception of the economy, or even their personal situation.” To download a copy of MetLife’s American Dream study, visit metlife.com/AmericanDream. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. Fitch Comments on Florida's Proposed Homeowner's Rate Relief Legislation CHICAGO--(BUSINESS WIRE)--Florida Governor Charlie Crist is expected to sign into law this week legislation that will significantly reduce the average Florida homeowner's insurance premium. Fitch does not believe the proposed legislation will have any impact on insurance company ratings. Fitch views Florida's proposed legislation as a mechanism to further suppress homeowner's insurance rates in a market where rates continue to be inadequate despite several large recent rate increases. Fitch believes the best long term solution to the Florida homeowners market is for the State to allow competitive market forces to set rate levels and to continue to encourage risk mitigation efforts such as more stringent building code requirements (one example is the elimination of the Florida Panhandle exemption in the proposed legislation). Fitch believes the legislation enables the State to further subsidize insurance rates in Florida through both of its state-sponsored vehicles, the Florida Hurricane Catastrophe Fund (FHCF) and Citizens Property Insurance Corporation. The bill expands private insurers' access to below market cost reinsurance from the FHCF by increasing the available coverage up to $33 billion from $16 billion currently, with primary insurers required to pass the savings onto policyholders in the form of lower premium rates. In addition, several provisions will increase Citizens competitiveness with the private market. This includes a repeal of Citizens recent average 23% rate increase that went into effect on the first of this year and 56% rate increase that was to be effective March 1, 2007, as well as a freeze of any additional rate increases for the remainder of 2007. Also, Citizens' premium rates are no longer required to be non-competitive with the voluntary market. The State hopes that these provisions will work to keep rates in the private market low. However, these actions will also serve to further increase the risk exposure to the FHCF and Citizens, as capacity in the voluntary market continues to decline. Positively, the proposed legislation expands the assessment base of Citizens to be identical with the Florida Hurricane Catastrophe Fund (FHCF) except for the exemption of medical malpractice insurance. Fitch believes the proposed legislation will have a significant impact on reinsurers as additional capacity from the FHCF will apply pressure on reinsurance rates and squeeze out private market capacity. Overall Fitch believes the impact will be less on the primary market participants; however, Fitch notes there are two key items for the primary market. First, primary insurers rates will be limited impinged by the "excess profits" provision included in the legislation. Second, companies who write homeowners insurance in other states but not in Florida are no longer able to "cherry pick" the Florida auto business without offering Florida homeowner insurance business. Fitch believes that any such continued suppression of rates or reduced profitability will only serve to continue to reduce the willingness of primary insurers to remain in the Florida homeowners market. Fitch considers the highly politicized and regulated Florida insurance market to be extremely fragile. Unfortunately, Florida can regulate insurance but not the weather. Hurricanes have historically come in 15- to 20-year cycles of high and low frequency and this is the high frequency part of the cycle, as demonstrated by the significant frequency and severity of hurricanes in 2004 and 2005. Fitch does not see any way that Florida can have both "availability and affordability" of insurance in the long term under the current conditions. The benign season in 2006 may have given false hope to the State that the risk of hurricane losses has subsided. As such, if Florida suffers significant hurricane losses in the near term the market is likely to experience even more disruption and withdrawal of private capacity, further shifting exposure to the public. www.fitchratings.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. American International Group, Inc. Proposes to Acquire Publicly Held Shares of 21st Century Insurance Group • Proposed Price of $19.75 in Cash per Share for the 38.1% Publicly Held Shares • 21st Century Insurance Group Would Become Wholly Owned by AIG NEW YORK--(BUSINESS WIRE)--American International Group, Inc. (AIG) announced today that it has submitted a letter to the board of directors of 21st Century Insurance Group (21st Century) (NYSE: TW) proposing to acquire the outstanding 38.1% publicly held shares of 21st Century for $19.75 per share in cash. AIG and its subsidiaries own approximately 61.9% of the outstanding shares of 21st Century. The aggregate cash consideration payable would be approximately $690 million. Following the transaction, 21st Century would become a wholly owned subsidiary of AIG. A copy of the letter sent by AIG to the 21st Century board of directors is attached. The proposed per share price represents a 19.0% premium to today’s closing price and a 25.5% premium to the average closing price during the last twelve months. The proposed per share price also represents a multiple of 19.6x the consensus estimates of 21st Century’s 2007 earnings per share (based on a current First Call estimate of $1.01 per share). Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
6. PartnerRe Ltd. Estimates Claims from European Windstorm Kyrill Will Be Between $50-$65 Million PEMBROKE, Bermuda, Jan. 24 /PRNewswire-FirstCall/ -- PartnerRe Ltd. (NYSE: PRE) today announced that claims relating to its exposure to Windstorm Kyrill, which hit Europe last week, are expected to be between $50-$65 million.Windstorm Kyrill battered the U.K., France, the Netherlands, Germany and several other Northern and Central European countries with winds over 80 miles per hour, causing severe and widespread damage and human casualties. Claims are expected to emanate from several European countries with the largest number from Germany and Austria. PartnerRe's loss estimate is based on the assessment of individual treaties as well as client data. PartnerRe is a leading multi-line reinsurer in Europe and Kyrill losses are expected to be contained within our Worldwide Specialty (including catastrophe) and Global Property & Casualty sub-segments. www.partnerre.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. UNUMPROVIDENT ANNOUNCES SALE OF GENEX SUBSIDIARY Sale part of company’s plan to focus on its core businesses CHATTANOOGA, Tenn. (Jan. 24, 2007) – UnumProvident Corporation (NYSE: UNM) today announced that it has entered into a definitive agreement for the sale of its wholly-owned subsidiary, GENEX Services, Inc., a leading workers compensation and medical cost containment services provider, to Trident IV, L.P., a fund managed by Stone Point Capital LLC, a global private equity firm based in Greenwich, Conn. “Our growth strategy is focused on the development of our primary markets, and while GENEX has been a solid financial contributor to UnumProvident, its specialty role in case management and medical cost containment related to the workers compensation market is no longer a core element of our overall strategic direction,” said Joseph Zubretsky, senior executive vice president of Finance, Investments and Corporate Development for UnumProvident. “At the same time, this is an opportunity for GENEX to further build its workers compensation business and grow under independent ownership, while we redeploy the capital to our core businesses.” www.unum.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. KMG America introduces the “plan of a lifetime”. Minnetonka, MN – KMG America Corporation is introducing a whole life plan called Secure Life, through their wholly-owned subsidiary, Kanawha Insurance Company. Secure Life has been designed to answer the need for a simple and affordable whole life policy that American workers can keep with them to retirement and beyond. It represents an ideal lifetime insurance strategy that allows workers to add-on term life coverage at peak periods in their earning years and still have appropriate coverage after those increased demands have come and gone. Secure Life is available in three basic modes, differing primarily in their paid-up ages of 65 [Secure Life 65], 90 [Secure Life Plus] and 99 years [Secure Life Select]. Coverage is available up to $300,000 for employees, with available spouse and child coverage. An accelerated Terminal Illness benefit is part of the basic policy and is available on diagnosis of a terminal illness. “Secure Life offers some attractive optional riders and special features that are tailored to fit contemporary needs. In addition, Secure Life provides the clear advantages of personalized enrollment and affordability when obtained at the workplace – especially compared with options outside the workplace.” according to Kenneth Kuk, Chairman, President and CEO of KMG America. “Employees can choose optional riders such as AD&D, Level Term and Family Term. Employers can opt to offer Automatic Benefit Increase, Waiver of Premium and Loss of Work riders as well. In addition, Secure Life provides a Work Life website that includes such features as online will preparation, financial education, access to telephonic beneficiary counseling and many other services. It’s a comprehensive package with a personal touch.” added TJ Gibb, Senior Vice President, Marketing of KMG America. “We’re proud and happy to be able to offer a product that is not only sensitive to the market’s desire for more permanent benefits, but also provides true piece of mind for America’s workers.” Mr. Kuk concluded. For more information on Secure Life, KMG America Corporation or the Kanawha Insurance Company, contact TJ Gibb, at 952-930-4806 or visit www.kmgamerica.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. Overworked and Underpaid: Workers Cite Top Barriers To Fulfilling Job Responsibilities in LifeCare® Poll WESTPORT, Conn., January 24, 2007 -- When it comes to the reasons that workers didn't fulfill their basic job responsibilities in 2006, 40 percent of them say they were "overloaded" and 15 percent say their "pay/rewards" weren't appropriate -- the top two responses to an online poll conducted in December by LifeCare®, Inc., provider of comprehensive specialty care services and a longtime leader in the work/life industry. The poll, answered by employees of LifeCare's 1,500 client companies and government agencies, also revealed other key barriers to employee productivity:
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. Tony Markel Opens Insurance Institute of London’s Lecture Season at Lloyd’s Old Library Encouraged by Progress at Lloyd’s but Says, “A lot more work has to be done” Glen Allen, VA – January 24, 2007, On January 8, Tony Markel, president and chief operating officer of Markel Corporation returned to the Lloyd’s Old Library where he opened the Insurance Institute of London’s lecture season by presenting his views on the initiatives that remain to be tackled to assure Lloyd’s future. In 2002, while underlining Markel Corporation’s commitment to the Lloyd’s market, Mr. Markel said: “Structural, fundamental, gut-wrenching change is going to be necessary for Lloyd’s to survive, let alone realize its full potential in the global economy.” In stark contrast this year, Mr. Markel said: “By any measurement, it has been one of the most, if not the most, dynamic, important, positive, productive periods in the history of Lloyd’s.” Mr. Markel identified a number of areas where good progress had been made in addressing concerns, including the establishment of the Franchise Performance Directorate, the dedication towards achieving contract certainty and consistent policy language, the growth in international marketplaces and the deal struck between Equitas and Berkshire Hathaway. However, Mr. Markel saw many areas that still needed serious attention. Those included: taxation inequality (and the resulting unlevel playing field); the cost of doing business at Lloyd’s; modernization of administrative processes; education; assurance of solid underwriting results; and the need to continue to enhance the Lloyd’s brand. www.markelcorp.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 11. Executive Liability Managers Insurance Brokers Unveils New Professional Liability Coverage Website – Now Available to General Agency Population El Segundo, Calif…Executive Liability Managers Insurance Brokers (E.L.M.), professional liability specialists, recently unveiled its new website. Accessible through www.e-o.com or www.e-insurebynet.com, users can now speed through the application and binding process for professional liability risks. E.L.M.’s new site provides the sales tools, resources and relevant news for today’s agent/broker. According to Fisher “We’ve totally redesigned our site to make it easier for today’s busy retailers to access information about the most current and competitively priced professional liability products from the top admitted and non-admitted carriers.” Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. NAMIC's Website Features New Dynamic Content Delivery Methods INDIANAPOLIS (January 25, 2007) – Dynamic news feeds powered by RSS (Really Simple Syndication) technology, audio podcasts from NAMIC’s government affairs staff, Flash video, and a weekly web log (blog) from NAMIC’s CEO & President Chuck Chamness highlight the redesigned National Association of Mutual Insurance Companies' (NAMIC) website (www.namic.org). Additionally, the same, great information visitors have come to expect is still available — it’s just easier to find. “The redesigned website reflects the needs, demands, and desires of those choosing to log on to NAMIC Online for news and information, educational and networking opportunities, services, and public policy and advocacy initiatives related to the property/casualty and mutual insurance industries,” said NAMIC's Director of Member Communications Jon Gorman. "During the past five years, traffic to the site in terms of unique visitors has increased by more than 500 percent.” Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. Ebix Inc. to Trade on NASDAQ Global Markets Now ATLANTA--(BUSINESS WIRE)--Ebix, Inc. (NASDAQ: EBIX), a leading international developer and supplier of software and e-commerce solutions to the insurance industry, today announced it will commence trading on the NASDAQ Global Market beginning at the open of trading on Friday, January 26, 2007. Ebix shares will continue to be traded under the ticker EBIX on the NASDAQ Global Market. Mr. Robin Raina, Chairman and Chief Executive Officer said: “The NASDAQ Global Market sets higher requirements of stockholders' equity, net income and market value. We are very pleased that our common shares were accepted for trading on the NASDAQ Global Market. We believe the move to the Global Market will increase our visibility and credibility in the institutional marketplace as also expose Ebix to potential new investors. It will also enable Ebix shareholders to benefit from increased liquidity and trading efficiency that the NASDAQ Global Market offers.” www.ebix.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. Prudential Capital Group Invests Nearly $7 Billion in Private Placements CHICAGO--(BUSINESS WIRE)--Prudential Capital Group, an investment business of Prudential Financial, Inc. (NYSE: PRU), announced today that it originated $6.9 billion in private debt investments in 2006. The investments were primarily fixed- and floating-rate senior debt, subordinated debt and equity in 175 companies worldwide. North American investments accounted for $5.7 billion, and the remaining total of $1.2 billion was invested in companies outside of North America in primarily the UK and Europe. Prudential Capital Group has seen a steady increase in investment activity for several years amid a fairly flat private placement market, growing from nearly $3.6 billion in 2000 to nearly $7 billion in 2006. Over the last 10 years, the company has built a global network that focuses on developing relationships with and providing capital to middle-market companies. www.prudentialcapitalgroup.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. Life-Exchange Files for OTCBB Listing MIAMI--(BUSINESS WIRE)--Life-Exchange, Inc., (Pink Sheets:LFXG), the largest and only independent, electronic trading platform for the secondary life insurance market, announced today that it has filed a Form 10-SB registration statement with the Securities and Exchange Commission (SEC) to obtain a listing on the Over the Counter Bulletin Board (“OTCBB”) and become a fully reporting company. www.life-exchange.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. Sun Life Financial announces perpetual Preferred Share issue TORONTO, Jan. 25 /PRNewswire-FirstCall/ - Sun Life Financial Inc. (TSX, NYSE: SLF) today announced a domestic public offering of $250 million of Class A Non-Cumulative Preferred Shares Series 5 (the "Preferred Shares"). The Preferred Shares will be priced at $25.00 per share and will pay non-cumulative quarterly dividends of $0.28125 per share, yielding 4.50% annually. Subject to regulatory approval, on or after March 31, 2012, Sun Life Financial Inc. may redeem the Preferred Shares in whole or in part at a declining premium. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. CNA Introduces NetProtect EssentialSM Provides critical liability coverage to businesses that use computers to manage information CHICAGO--(BUSINESS WIRE)--Today, most businesses rely extensively on computers and computer networks to store significant amounts of sensitive or private information. In addition, business managers have become increasingly concerned about potential exposure to litigation resulting from security breaches or compromises of private and confidential information. Global business insurer CNA announces its insurance solution to network security concerns: NetProtect EssentialSM, a new product that provides liability coverage for privacy and identity theft, along with a range of other network security-related exposures. www.cna.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. The Bush Health Care Reform Proposal Good for the Country, Good for States, Says CAHI ALEXANDRIA, Va., Jan. 24 /PRNewswire-USNewswire/ -- Last night in his State of the Union Address, President Bush took a bold and innovative step toward creating tax equity, calling for an end to the employee tax exclusion for health insurance and replacing it with a standard tax deduction. Under the current system, taxpayers subsidize employer-provided health insurance, with the biggest subsidies going to the richest health insurance policies. Meanwhile, workers whose employers don't provide health insurance usually lower-income employees who can least afford it -- get no tax break at all. The president's plan would end that disparity. "Economists have been claiming for years that we need to change the system," said Dr. Merrill Matthews, director of the Council for Affordable Health Insurance. "Only President Bush has been willing to take that step." Dr. Matthews continued, "We live in a 21st century information economy with a dynamic and mobile workforce. But health insurance has been trapped in a 20th century industrial economy model. This step will help health insurance and the economy grow to meet their potential." In addition, the president plans to create his Affordable Choices Initiative to help states provide basic private health insurance at an affordable price, and to move to a system where Americans can "own" their health plan. The Council for Affordable Health Insurance has a number of resources available on our website to guide policymakers on how to do justthat. -- "Health Insurance Mandates in the States" identifies every state mandate in the country -- all 1,843 of them -- and estimates how much cost they add to a health insurance policy. -- "State Health Insurance Index" assesses each state's health insurance environment. Which states do the best job of ensuring people have access to a wide range of affordable health insurance options? This publication identifies them and explains why. -- "State Legislators' Guide to Health Insurance Solutions" provides a short explanation of some of the most important state health insurance issues and what state legislators can do to solve those problems. Founded in 1992, CAHI is a non-profit research and advocacy association whose mission is to develop and promote free market solutions to America's health care challenges. CAHI's membership includes health insurance companies (active in the individual, small group, HSA and senior markets), small businesses, physicians, actuaries and insurance brokers. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Benepath, Inc. Adapts to Serve Consumer Directed Health Market NEWTOWN SQUARE, Pa., Jan. 24 /PRNewswire/ -- After discovering a lack of understanding among most health insurance brokers, Benepath, Inc. expanded its services to meet the needs of individuals seeking health insurance. Clelland Green, founder and CEO of Benepath, Inc. realized that many health insurance brokers do not have a firm grasp of the Consumer Directed Health (CDHs) market while consulting for insurers and managed care organizations regarding the development of CDHs. Examples of CDHs include Health Savings Accounts (HSA), Health Reimbursement Arrangements (HRA), and High Deductible Health Plans (HDHPs). As a result, many individuals and small businesses have not enrolled in the health plan that best meets their personal or professional requirements. For more information on HSAs, HDHPs, HMOs or PPOs and for more information on Benepath, Inc., visit http://www.benepath.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. Agreement between Avalon Healthcare & MDVIP Allows Consumers to Include Personalized Physician Service toward Health Plan Deductibles TAMPA & BOCA RATON, Fla.--(BUSINESS WIRE)--Avalon Healthcare, Inc., Florida’s newest premier statewide health plan, has entered into an innovative agreement with MDVIP, Inc., the national leader in personalized and preventive medicine, to count the cost of joining MDVIP toward health plan deductibles for all Avalon plans with a $3,000 deductible or higher, the two companies jointly announced today. On making the announcement, Charles O’Neill, Avalon’s CEO said, “Under the new relationship with Avalon, annual fees of $1,500 paid to a participating MDVIP physician will be counted toward the Member’s deductible when a member purchases an Avalon individual IFOCUS plan or is part of an Avalon Focus group plan with a $3,000 deductible or higher. The fee can be paid through an HSA account if the Member purchases an Avalon HSA compatible plan.” “The ability to receive a thorough, comprehensive medical exam from a leading physician is a tremendous benefit for an Avalon Member, and is worth counting the expense towards a plan deductible,” continued O’Neill. “Working with MDVIP provides Avalon with another innovative tool to help consumers better manage their own healthcare both physically and financially. “Avalon is convinced that MDVIP physician programs are creating healthier and happier consumers, reducing hospital stays and creating a better quality of life for Members,” O’Neill added. www.avalonhealthcare.com www.mdvip.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. PreferredOne Community Health Plan to Offer Its Members LifeMasters Disease Management Program SAN FRANCISCO and MINNEAPOLIS, Jan. 25 /PRNewswire/ -- LifeMasters Supported SelfCare, Inc., a leading provider of disease management programs and services in the nation, and PreferredOne Community Health Plan today announced a three-year agreement to provide PreferredOne members with disease management services for chronic obstructive pulmonary disease, diabetes, congestive heart failure, asthma and coronary artery disease. As a health benefits administrator, PreferredOne offers a full-range of products, services and networks to brokers, employers, members, insurance companies and third-party administrators throughout Minnesota and the Upper Midwest. Under the three-year contract, more than 50,000 PreferredOne members will have access to LifeMasters' customized disease management program designed to help them better manage their health conditions. Program participants will receive coaching and regular telephonic support from their own personal health coach. They will learn how to monitor their vital signs and symptoms to detect early changes in their health status. An integral part of the program includes integrating the members' physicians by alerting them to significant changes in their patient's health between office visits so they can intervene early to avoid emergency room visits and hospitalizations. www.preferredone.com www.lifemasters.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Businesses Reap Rewards of a Healthy Workforce MIDLAND, Mich., Jan. 25 /PRNewswire/ -- A new white paper highlights the enormous benefit to organizations that invest in their healthy population. In Keeping Healthy People Healthy - The Business Case, Health Enhancement Systems cites more than 25 studies showing that as health risks increase, costs increase; as health risks decrease, costs decrease. In 2007, the average annual health benefit cost/employee for a typical employer is predicted to exceed $8700 - about 6% higher than 2006. A growing body of literature supports the long-term advantage of $3-$8/$1 invested for a comprehensive, well-designed health promotion program. "While disease management programs that focus on the high-risk population may seem like the best strategy, research confirms that a major opportunity for economic impact is in keeping low-risk employees from moving into higher- risk categories" explains Dean Witherspoon, CEO of Health Enhancement Systems. "For years organizations sponsored wellness activities because it was 'the right thing to do.' Now there's proof that it's the right thing to do from an economic standpoint as well" Witherspoon notes. Implementing strategies to help workers stay healthy is critical to lowering costs. Offering a range of wellness options - campaigns, contests, print materials, and online health improvement programs along with rewards for reinforcement - is a proven strategy for keeping healthy people healthy. For a free copy of Keeping Healthy People Healthy - The Business Case, call 800.326.2317 or go to http://www.healthenhancementsystems.com/khph. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Farmers Insurance Offers Discount on Auto Insurance to Men and Women of Armed Forces TOPEKA, Kan.--(BUSINESS WIRE)--Farmers Insurance Group of Companies announced today that men and women currently serving in the armed forces can save 5% on their automobile insurance with Farmers in Kansas. “These are men and women who risk their lives for all Americans every day,” said Frank Soldano, State Executive Director of Farmers, Kansas. “Farmers would like to show our gratitude by offering a discount on auto insurance to all Kansans now serving our country.” In Kansas, Farmers insures more than 95,000 homes, over 236,000 automobiles, 3,500 businesses and the lives of over 30,000 people. www.farmers.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. J.G. Wentworth to Market Annuity Purchase Program With Underwriters Marketing Service, Inc. BRYN MAWR, Pa., Jan. 24, 2007 (PRIME NEWSWIRE) (PRIMEZONE) -- The J.G. Wentworth Annuity Purchase Program(tm) has added Underwriters Marketing Service, Inc. (UMS) to its growing roster of Insurance Marketing Organizations (IMOs). The firm is led by noted insurance marketing executive Mary Ann Lacey-Gray, CLTC. For more than 15 years, J.G. Wentworth has been purchasing annuities as well as other deferred payment streams. During this time, the company has purchased over $2 billion of future payment obligations. The company's annuity-backed notes are rated AAA by Standard & Poor's and Aaa by Moody's and sold to institutional investors. J.G. Wentworth is based in Bryn Mawr, PA. For more information about J.G. Wentworth, go to www.jgwentworth.com. Underwriters Marketing Service, Inc., entering its 23rd year in business, is a national marketing organization offering sales and marketing support to insurance professionals in the areas of life, annuities, reverse mortgages and long term care. UMS is headquartered in Mt. Laurel, New Jersey, with sales offices in Maryland and Florida and provides sales support to over 3,600 agents. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. Sage Global Solutions Enters Into Exclusive Wholesale Agreement With Global Benefits Group, Inc. IRVINE, Calif., Jan. 24, 2007 (PRIME NEWSWIRE) (PRIMEZONE) -- Sage Global Solutions, Inc. (Pink Sheets:SGGL) (Frankfurt:Q9A) announced today that, through its PremierPoint Insurance Services subsidiary, it has entered into an exclusive wholesale agreement with Global Benefits Group, Inc. (GBG), a unique insurance organization providing healthcare products, financial services and travel insurance in the U.S. and worldwide. As part of the agreement, GBG will take an equity stake in Sage Global and has opened discussions for future additional investment. GBG will develop various insurance and related programs for which PremierPoint will provide marketing support. GBG will provide specified underwriting, administrative and marketing support services. The two entities will jointly develop healthcare, travel and related programs, which PremierPoint will market to its appointed agents, branded as product services of PremierPoint Insurance Services on an exclusive basis. www.sage-global.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. Microwave experiments cause sponge disasters WASHINGTON (Reuters) - Reports about a study that found microwave ovens can be used to sterilize kitchen sponges sent people hurrying to test the idea this week -- with sometimes disastrous results. A team at the University of Florida found that two minutes in the microwave at full power could kill a range of bacteria, viruses and parasites on kitchen sponges. They described how they soaked the sponges in wastewater and then zapped them. But several experimenters evidently left out the crucial step of wetting the sponge. "We figured, 'wow, we better let people know right away that the sponge should be wet,'" Hoover said in a telephone interview. The university issued the following advisory: "To guard against the risk of fire, people who wish to sterilize their sponges at home must ensure the sponge is completely wet. Two minutes of microwaving is sufficient for most sterilization. Sponges should also have no metallic content. Last, people should be careful when removing the sponge from the microwave as it will be hot." © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. ASI Now Offers EnviroStarTM Coverage Through ProStar OnlineTM Program ATLANTA--(BUSINESS WIRE)--American Safety Insurance Services, Inc. announced today that its EnviroStarTM product for middle market environmental professionals is accessible via ASI’s ProStar OnlineTM web-based rating and submission program. EnviroStar is designed for environmental contractors and consultants who derive the majority of their revenue from environmental and remediation services and combines general and pollution liability coverages into one convenient policy. Environmental consultants have the option to add professional liability coverage to the EnviroStar policy, and the product can also be tailored to provide pollution coverage to non-environmental contractors looking for pollution liability coverage. www.amsafety.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 29. Christiana Care Health System and MEDecision Join to Present Web Seminar - “Economic Benefits to Collaborative Data Exchange Between Payers and Providers” What: Christiana Care Health System and MEDecision, Inc. (Nasdaq: MEDE) are offering a complimentary Web seminar — “Economic Benefits to Collaborative Data Exchange Between Payers and Providers.” Progressive health plans are starting to provide payer-based electronic health records at the point of care, believing that more information about a patient leads to faster, more accurate decisions, resulting in better outcomes. A Healthcore study evaluating the economic benefit of utilizing a specific payer-based electronic health record, MEDecision’s Patient Clinical Summary (PCS), in a hospital emergency department at a level-1 trauma center found that exchanging the same vital clinical information also resulted in significant cost savings. When: Monday, January 29, 2007 - 12:30 – 1:30 pm Eastern time (9:30 – 10:30 am Pacific time) Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 30. Survey Says LifeLock Cuts Risk of Identity Theft in Half Service Found to Be More Effective than Credit Monitoring for ID Theft Prevention Tempe, AZ (January 23, 2007) – Consumers who subscribe to the LifeLock identity theft prevention service reduce their risk of having their identities stolen by more than half, according to a study by Javelin Strategy & Research. The report also showed that LifeLock’s focus on stopping identity theft at the source provides extra protection over credit monitoring services that are designed only to detect the problem after the fact. The study’s key finding was that only one in 500 active LifeLock subscribers was a victim of identity theft associated with new account openings in the six-month period examined, compared to one in every 200 in a demographically similar sample from earlier Javelin research. Those results reflect LifeLock’s industry-exclusive prevention program, including a fraud alert system that requires banks and other financial institutions to contact the LifeLock subscriber before opening new accounts or credit cards, issuing credit, arranging loans, increasing credit lines, and so on. www.lifelock.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 31. Agency Edition Equips Brokers, Client Companies to Show the Full Value of Employee Compensation New on-demand software enables brokers and consultants to create branded total compensation statements at less cost Rocklin, CA / January 23, 2007 -- Brokers, consultants and Third-Party Administrators (TPAs) can now create branded, total compensation statements easily and inexpensively for clients, with the new Agency Edition of TotalCompBuilder.com (www.AgencyEdition.com). The on-demand software, developed by TotalRewards Software, Inc., easily creates clean, professional total compensation statements for companies to use in showing employees the full value of their compensation and benefits package. A web-based program, the Agency Edition is available 24 hours a day, seven days a week and from any location. Brokers need only an Internet connection and web browser to get started – no software needs to be installed, and no complicated updates to download in the future. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 32. IIABNY Subsidiary Celebrates 15 Year Partnership with Westport Insurance Agents E&O Program (DeWitt, New York, Jan. 23, 2007) — The Independent Insurance Agents & Brokers of New York, Inc. is proud to announce a 15 year milestone between IAAC, its membership services division, and Westport Insurance Companies (A.M. Best A rated, admitted). The Westport relationship has greatly bolstered the 35 years of IAAC’s commitment to providing errors and omissions coverage for IIABNY members. www.iiabny.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 33. Insurance Commissioner Steve Poizner Takes Next Step in Bringing Low Cost Auto Insurance Program to Tulare County SACRAMENTO - Looking to help Tulare County's low-income motorists, the state's new Insurance Commissioner Steve Poizner spoke with county residents at the Tulare County Board of Supervisors meeting today to assess the automobile insurance needs of the county. The Department of Insurance has preliminarily determined that California's Low Cost Automobile Insurance Program should be expanded to include six additional counties: Tulare, Merced, Monterey, Sonoma, Santa Barbara and Ventura. Town meetings were held in Monterey, Sonoma, Santa Barbara and Ventura counties, and residents in those counties have requested the Low Cost Automobile Insurance program be made available. Tuesday, Commissioner Poizner sought the input of local residents as to the need for the program in Tulare and Merced counties. Following Tuesday's meetings, the Commissioner will make a final determination on launching the program in each of the six counties. The program provides eligible low income, good drivers with state-required liability coverage for under $400 a year. More than 15 percent of Tulare County's drivers are uninsured. "State law requires that all drivers be insured, but more than 34,000 motorists in Tulare County are traveling the roadways without insurance," said Commissioner Poizner. "This is a crisis. Many Tulare drivers simply cannot afford insurance, but they are placing themselves and fellow residents at risk when they drive. This program may allow them to be on the road safely." Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 34. SellingLTC.com Develops LTCI Ghost Articles Publishing Pak to Get Insurance and Financial Professionals Published ATLANTA, Jan. 23 /PRNewswire/ -- SellingLTC.com, LLC, the leader in providing long-term care insurance sales and marketing solutions for insurance producers, today announced the release of the SellingLTC.com LTCI Ghost Articles Publishing Pak, designed to assist insurance producers in marketing themselves as professionals in their community and in reaching more prospects for the purpose of discussing long-term care insurance as part of sound retirement, benefit and financial planning. www.SellingLTC.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 35. John Hancock Survey: Most Americans Prefer Planning Their Will To Preparing for Long Term Care (LTC) BOSTON, Jan. 23 /PRNewswire/ -- If given the choice between sitting down to plan their will or sitting down to discuss possible long term care needs, more than half (55 percent) of respondents in a survey conducted for John Hancock Life Insurance Company (John Hancock) said they'd opt for the will. A similar percentage (53 percent) said that going to a nursing home is worse than becoming bankrupt and half said they consider it worse than dying. "While most Americans recognize the importance of planning for their possible long term care needs, the emotions that surround the thought of losing their independence, as well as the misconceptions they have about care options, make it uncomfortable for them to begin putting a plan in place," said Laura Moore, senior vice president of John Hancock's Long Term Care Insurance Department. "We have found that once people understand the facts about long term care, planning for the possibility of needing it becomes much less daunting. For example, long term care does not necessarily have to mean nursing home care. In fact, most care today is received in a home setting. Long term care insurance can give individuals more choices about the kind of care they receive and where they receive it." Long term care is the assistance needed by someone who can no longer independently perform daily activities such as eating, bathing, or dressing. This care can be received at home or in an assisted living facility, adult day care center, or a nursing home. www.manulife.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 36. February Job Market Shows Slowing Employment Growth Five-Week Outlook Shows Employers Plan to Increase New-Hire Compensation (Alexandria, Va., January 23, 20067—According to new numbers from the Leading Indicator of National Employment (LINE) report, there will be more hiring in manufacturing and less in services in February 2007, compared to February 2006. The findings are reported in the February report of the LINE index, a collaborative effort between the Society for Human Resource Management (SHRM) and the Rutgers University School of Management and Labor Relations. www.shrm.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 37. The Retirement Income Industry Association (RIIA) Gears Up for 3rd Annual Managing Retirement Income Summit Boston, MA (January 22, 2007) The Retirement Income Industry Association (RIIA) is hosting the 3rd Annual Managing Retirement Income Summit in Boston, MA from February 12 -14, 2007 (www.riia-usa.org).This conference is the industry’s leading event devoted to retirement income issues, and is attended by more retirement income business leaders than any other industry gathering. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
|
