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1. State Farm drops coverage of 2,600 holders: AP Mon Feb 5, 2007 8:59AM EST NEW YORK (Reuters) - State Farm Fire & Casualty Co., citing losses from storms, said it will not renew coverage for about 2,600 policyholders mainly in Alabama's beach resorts, the Associated Press reported on Monday. The announcement came after State Farm agreed to pay about $80 million to more than 600 Mississippi policyholders who sued over damage from Hurricane Katrina and at least $50 million more to resolve thousands of other disputed claims by policyholders who didn't sue, the newswire said. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Triad Hospitals accepts $4.7 bln bid to go private Mon Feb 5, 2007 11:04AM EST PHILADELPHIA (Reuters) - Triad Hospitals Inc. (TRI.N: ) has accepted a $4.7 billion takeover offer from affiliates of CCMP Capital Advisors and GS Capital Partners, the company said on Monday. Triad shareholders will receive $50.25 per share, which represents a 16 percent premium over the stock's Friday closing price of $43.27. Including about $1.7 billion of assumed debt, Triad said the deal was worth $6.4 billion. Triad, which operates 54 hospitals and 13 ambulatory surgery centers, also warned that fourth-quarter results were hurt by lower collection rates on bad accounts. CCMP Capital is a private equity firm. GS Capital is part of investment bank Goldman Sachs (GS.N: ). Private equity firms have been taking a closer look at hospital companies after HCA Inc. -- the biggest U.S. hospital chain -- accepted a $22 billion management-led leveraged buyout last year. The industry is struggling with slowing admissions and rising numbers of patients without health insurance. Some analysts have predicted that more hospital chains will go private, in part to escape the scrutiny that comes with being a publicly traded company. "We believe a significantly higher bid (for Triad) is unlikely, given that the current offer is in line with HCA's 2006 leveraged buyout" in terms of the relationship between the offer and Triad's earnings before interest, taxes, depreciation and amortization, CIBC World Markets analyst Michael Wiederhorn said in a research note. EBITDA is a gauge of cash flow closely watched by private equity investors, who seek strong cash flows to help pay down debt borrowed to finance their deals. OTHER TAKEOVER TARGETS? Wiederhorn said the takeover bid was not surprising because Triad had been more candid that its rivals in discussing the possibility of going private. He said Community Health Systems Inc. (CYH.N: ), an acute care hospital operator, could be the next target of a private takeover bid due to its conservative balance sheet. Under the takeover agreement, Triad can solicit superior proposals from third parties during the next 40 days. During that time, CCMP Capital and GS Capital do not have a contractual right to be advised of, and are not required to match, the terms of any superior proposal. Should any talks yield a definitive agreement with a third party, Triad would have to pay a $20 million break-up fee to CCMP Capital and GS Capital and reimburse up to $20 million of their out-of-pocket expenses. Plano, Texas-based Triad expects to hold a special meeting of stockholders to vote on the proposed deal and will postpone its 2007 annual meeting. Goldman, Sachs & Co., JP Morgan and Citigroup Global Markets Inc. served as financial advisers to the buyers. Lehman Brothers Inc. served as the financial adviser and delivered a fairness opinion to Triad. Triad shares were up $6.59 to $49.86 in morning trade on the New York Stock Exchange. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Democrat Edwards offers universal health care plan
"Our health care system has grown more dysfunctional in the last few
years," Edwards, the 2004 Democratic vice presidential nominee, said in
a Reuters interview. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. State Street unveils $4.5 bln acquisition NEW YORK, Feb 5 (Reuters) - State Street Corp. (STT.N: ), one of the world's largest custody banks for institutional investors, said on Monday it would acquire Investors Financial Services Corp. (IFIN.O: ) for about $4.5 billion in stock. The deal comes as two State Street rivals, Mellon Financial Corp. (MEL.N: ) and Bank of New York (BK.N: ), plan to combine into a powerhouse asset management and servicing company this year. State Street said it anticipates taking several hundred million dollars in restructuring charges as part of the acquisition. Investors Financial Services, like State Street, focuses on institutional investors and has produced compound annual growth of 18 over the past three years. Both companies operate from headquarters in Boston. State Street said the deal will dilute operating earnings this year and have a neutral effect in 2008 on an operating basis. The acquisition is expected to add to State Street's profits in 2009, based on anticipated pre-tax restructuring charges of $625 million to $675 million. Both boards have approved the deal, which calls for the exchange of 0.906 State Street share for each share of Investors Financial Services Corp., based on State Street's closing share price on Friday of $71.75. State Street will issue about 62 million shares as part of the deal, which it said it expected to close by the third quarter and would reduce its operating earnings this year. Once the transaction closes, expected in the third quarter of this year, State Street said it will have more than $14 trillion in assets under custody, including $3.5 trillion in mutual fund assets under administration. (Additional reporting by Tim McLaughlin in New York) ((Reporting by Christopher Kaufman, editing by Martin Golan; New York Equities Desk; +1 646 223 6044) © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. Swiss Re sells London's "Gherkin" for $1.2 bln LONDON/ZURICH, Feb 5 (Reuters) - Swiss Re (RUKN.VX: ) said on Monday it had sold London's iconic "Gherkin" office tower for a net 600 million pounds ($1.17 billion), marking Britain's biggest-ever single-building property deal. Evans Randall, a UK private investment group which bought the landmark with IVG German real-estate firm IVG Immobilien AG (IVGG.DE: ), said the cost of the building rose to 630 million pounds with fees, reflecting an overall yield of 4.5 percent. Yields on property measure rental income in proportion to its capital value. In central London's booming office market they have fallen well below the local cost of borrowing, helped by expectations of strong rental growth. IVG and Evans Randall said Swiss Re will remain the anchor tenant at the 500,000 sq ft tower at 30 St Mary Axe until at least 2031, taking up 50 percent of the property's rentable space. Evans Randall said it planned to place its share of the trophy asset in a special purpose vehicle aimed at private and institutional investors and that IVG intended to include it in its IVG EuroSelect series of closed-ended funds. "This is exactly the type of high quality real estate asset that we and our clients look to invest in and we expect to announce further acquisitions of a similar calibre across Europe in the coming weeks," Michael Evans, who heads Evans Randall, said. Swiss Re said it will book a gain of around 250 million pounds on the deal, with half of the gain appearing on its 2007 income statement and the other half being booked over 25 years. The transaction is expected to close this month. ((Reporting by Douwe Miedema and William Kemble-Diaz Editing by Paul Gallagher/Sue Thomas; ($1=.5111 Pound) Keywords: SWISSRE GHERKIN/ (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article INSURANCE NEWSCAST
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Newsletter In The World For a fraction of the cost of other mediums, INSURANCE NEWSCAST can help build your brand and generate marketing leads within the entire insurance industry, providing three ways for future clients to contact you; via telephone, via e-mail, and via your website. Your company's products and services can be displayed at the top of this newsletter where it is the first thing seen by over 450,000 subscribers - your potential future clients. To request a media kit, send an e-mail to wpodgurski@aol.com call 888-282-1765 or click here to read the media kit online. YOU HAVE MARKETING CHOICES; Trade Shows, Direct Mail, Magazine Ads and Telemarketing, just to name a few. Consider INSURANCE NEWSCAST as a branding and lead-generating supplement to your other marketing efforts. An INSURANCE NEWSCAST ad placement will deliver your message to 350,000 INSURANCE NEWSCAST subscribers identifying your company, products, and services, and providing your telephone number, hyper-linked e-mail address and hyper-linked website URL... and at a fraction of the cost of other marketing options. 6. Report Answers Questions Regarding The Effects Of Florida's New Insurance Legislation NEW YORK Feb. 2, 2007—Hot on the heels of new insurance legislation passed in Florida (AAA/Stable), Standard & Poor's Ratings Services answers some of the frequently asked questions regarding this new law and its effects on the two major state-sponsored insurance entities--Florida Hurricane Catastrophe Fund (FHCF; AA-/Stable) and Citizens Property Insurance Corp. (A+/Stable)--and the industry in general. In a Credit FAQ article released today titled "New Legislation Affects Florida's Property Insurance Industry," Standard & Poor's explains that the bill promises to reduce property insurance by an average of 22% in the state. On the flip side, policyholders will now have to take on a greater share of the risk in the event a catastrophic hurricane hits the state. The new legislation also creates significant changes to the FHCF and Citizens. The law more than doubles FHCF's capacity to provide layers of reinsurance for residential property losses. It also allows Citizens to compete in some ways with private insurance companies. Despite a mild 2006 hurricane season, experts are forecasting a long-term upswing in storm activity that could last for two decades. Over the past several years, changes in the property insurance market have reflected tensions between regulators, who seek to keep insurance prices manageable for citizens, and insurers, who fear the climate trends will increase catastrophic losses in the future. Consequently, Standard & Poor's expects that the availability and pricing of hurricane coverage will continue to be a key issue for state policymakers over the long haul. www.standardandpoors.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. BestWeek: Florida Reforms May Cause Market Storm OLDWICK, N.J., Feb. 2, 2007—If the forecasts for more frequent and severe hurricanes hold true, industry experts predict a new Florida property insurance law may be a house of cards that encourages the exit of the private market and opens the state up for legal action by insurers, according to an exclusive story in this week's BestWeek. The law signed by Gov. Charlie Crist on Jan. 25, requires Citizens Property Insurance Corp., the state's last resort insurer, to increase its risk load while lowering rates. The bill, House Bill 1A, also makes the Florida Hurricane Catastrophe Fund a take-all-comers mechanism whose coffers would grow from some $7 billion presently to more than $30 billion. Adding to this, an emergency rule Crist issued on Jan. 29 mandates an immediate rate freeze and moratorium on nonrenewals and cancellations. “In one way, what (the legislation) says is ‘get out.’ That's sort of the message insurers get,” Bob Hartwig, president of the Insurance Information Institute told BestWeek. “But if you scratch below the surface, politicians are going to be looking at solutions within the private industry." www.ambest.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. Britain battles H5N1 bird flu outbreak in poultry Sat Feb 3, 2007 11:39pm ET By Luke MacGregor HOLTON (Reuters) - Britain scrambled to contain its first outbreak of the highly pathogenic H5N1 strain of bird flu in domestic poultry on Saturday after the virus was found at a farm run by Europe's biggest turkey producer. Some 2,500 turkeys have died since Thursday at the Bernard Matthews farm near Lowestoft in eastern England. The Department for the Environment, Food and Rural Affairs (Defra) said all 159,000 birds there would be culled over the next few days. "We're in new territory," National Farmers' Union Poultry Board chairman Charles Bourns told Reuters. "We've every confidence in Defra but, until we know how this disease arrived, this is a very apprehensive time for all poultry farmers." Defra said the virus was the same pathogenic Asian strain found last month in Hungary where an outbreak among geese on a farm prompted the slaughter of thousands of birds. That outbreak followed a relative lull in cases of H5N1 among European poultry since hundreds of turkeys died at a farm in east France about a year ago. The strain tends to be transmitted to poultry by infected migrating wildfowl. It has killed at least 165 people worldwide since 2003, most of them in Asia, and more than 200 million birds have died from it, or been killed to prevent its spread. But it has not yet fulfilled scientists' worst fears by mutating into a form that could be easily transmitted between humans and possibly cause a global pandemic. UNUSUAL OUTBREAK Avian flu expert Colin Butter of the Institute of Animal Health said the British outbreak was surprising as it had happened outside the main bird migration period. "The next thing we need to know is if this is a primary or secondary case. If this is a secondary case, it is much more serious. If this is the first case, or 'reference case', and we can stamp it out, the outbreak will be controlled," he said. A protection zone was established with a radius of 3 km (2 miles) and a surveillance zone of 10 km around the infected farm. Bird gatherings such as bird shows and pigeon racing were suspended nationwide. Across the North Sea in the Netherlands, Europe's second biggest poultry producer after France, the agriculture ministry reacted by ordering farmers to keep poultry indoors to prevent them from any contact with wild birds. Norway, which has had no cases of the deadly bird flu strain, told farmers to keep poultry indoors in the area south of Nordland county and banned bird gatherings, such as bird shows and competitions. Britain's poultry industry is worth 3.4 billion pounds ($6.7 billion) and produces 800 million birds each year. The Health Protection Agency said the current level of risk to humans from H5N1 was extremely low. In May, 50,000 chickens at three farms in Norfolk, also in eastern England and home to some of Europe's biggest poultry farms, were culled after another strain, H7N3, was detected. A wild swan found dead in Scotland in March had the H5N1 version of the virus. It was thought to have caught the disease elsewhere, died at sea and been washed ashore in Scotland. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. UnitedHealth cuts 2007 revenue forecast By Lewis Krauskopf NEW YORK, Feb 5 (Reuters) - UnitedHealth Group Inc. (UNH.N: ) cut its 2007 revenue forecast on Monday after determining membership in its full-service Medicare plans for seniors will likely decline "modestly" this year. The largest U.S. health insurer by market value took down its Medicare Advantage projection for the second time is as many months, even as rival Humana Inc. (HUM.N: ) said it picked up 100,000 such Medicare members in January alone. UnitedHealth's new Medicare Advantage forecast led analysts to speculate the company's performance has suffered as it tries to emerge from a stock options scandal. "The options inquiry is clearly a distraction and may finally be taking its toll on the company's ability to execute," Bank of America analyst Joseph France said in a research note. UnitedHealth shares dipped 0.8 percent. William McGuire, UnitedHealth's former longtime chief executive, left last year in the wake of a damaging report that found evidence of backdated stock options. The company has overhauled corporate governance procedures and changed its management structure, but still must become current with its regulatory financial filings and faces probes from the U.S. Securities and Exchange Commission and federal prosecutors over the options issue. The Minneapolis-based insurer now sees consolidated revenue exceeding $78 billion this year, after previously forecasting revenues of "around" $79 billion last month. It maintained its net earnings forecast for the year of $4.7 billion to $4.75 billion. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. Commercial Insurance Premiums Indicate Market Momentum Property Insurance Premiums Spike in Fourth Quarter 2006, While Directors and Officers and Workers’ Compensation Premiums Drop Significantly NEW YORK--(BUSINESS WIRE)--In the fourth quarter of 2006, commercial insurance premiums reflected some of the year’s most dramatic rate changes, according to the RIMS Benchmark Survey™. As predicted by Advisen analysts, the soft market continues to gain momentum due to a relatively stable year free of major catastrophes. The RIMS Benchmark Survey™ is the industry’s leading comprehensive survey of current policy renewal prices as reported by corporate risk managers. In the fourth quarter of 2006, Directors and Officers (D&O) and workers’ compensation reported the largest decreases in premium rates with 5.1 percent and 7.4 percent, respectively. D&O continues to be a very competitive line of business with rate decreases further stimulated by a sharp drop in the number of securities class action suits filed in 2006, as tracked by Advisen—112 in 2006 as compared to 186 suits filed in 2005. Competition has been spurred in the workers’ compensation line of business due to reform measures passed in several large states. Property insurance was once again the only line of business that increased in the fourth quarter by 6.6 percent. This sharp increase was caused by the continuing legacy of the 2005 hurricane season. Rate increases continue to affect not only property owners with coastal exposures in the Southeast, but also companies with windstorm exposures in Mid-Atlantic and Northeastern states, and earthquake exposures in California. “Risk managers have benefited from lower premiums in most lines of business, but continue to be challenged by skyrocketing property catastrophe premiums,” said Joseph Restoule, RIMS secretary and member of the board of directors. “However, we’ve now gone a full renewal cycle since the catastrophes experienced in 2005. There are reasons to be optimistic that the market for catastrophe coverage will stabilize and even improve in 2007.” Aggregate policyholders’ surplus, the measure of insurance capacity, increased sharply in 2006 as a result of strong pricing and few catastrophe losses. According to a report released by A.M. Best Co. in December, property and casualty policyholders’ surplus grew 8.7 percent to $477.3 billion. “Greater capacity resulting from a very profitable 2006 means that underwriters are going to be under pressure to slash rates further in 2007,” said David Bradford, editor-in-chief, Advisen. “Even risk managers with coastal property exposures should see improvements this year.” General liability premiums continued to decrease slightly in the fourth quarter by 2.6 percent. Changes in general liability reported in 2006 show premiums for the year were relatively unchanged. The RIMS Benchmark Survey™ is produced by Advisen, Ltd., which collects and analyzes the data and provides the technology infrastructure for the survey’s online services. Advisen introduced the "Broker Authorization Letter" that enables Risk Managers and buyers of insurance to contribute to the RIMS Benchmark Survey™ by designating their broker to provide the client’s program details. The letter is available at www.RIMS.org/brokerform or by calling 800-655-6590. Risk management professionals can also contribute by e-mailing current and prior year policy schedules to Benchmark@RIMS.org or by faxing to 212-655-7453. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 11. DTCC Subsidiary Targets July 2007 to Launch New Mutual Fund Profile Service Project Will Streamline Information Exchange, Strengthen Industry’s Ability to Meet with Compliance Requirements NEW YORK--(BUSINESS WIRE)--The Depository Trust & Clearing Corporation (DTCC) today announced plans to launch its new Mutual Fund Profile Service database in July. The redesigned database will provide the fund community with an automated, centralized repository for a broad range of information contained in a fund’s prospectus and expand the service’s role as a primary industry source for rules-based processing. “This initiative will deliver major efficiencies to the industry by providing a single central resource for the dissemination of fund information and offering greater operational flexibility,” said Ann Bergin, managing director and general manager, DTCC Distribution Services. www.dtcc.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. ING Employee Benefits To Exhibit At Workplace Benefits Renaissance 2007 As a 10-year member of what is now the Workplace Benefits Association, this forum is an invaluable opportunity for ING Employee Benefits to bond with the valued brokers and producers within the insurance industry, and to showcase our full suite of group and voluntary insurance products along with the extensive capabilities of our online services. It is this kind of hands-on, personalized sales approach that is the cornerstone ING Employee Benefits was founded on 90 years ago. ING Employee Benefits offers a variety of insurance products through ReliaStar Life Insurance Company and its affiliates to supplement the core medical benefits provided by the employer. Our products offer options that add portability for most products, flexibility, and/or payroll deduction as well as solid protection for every life stage. And that is important because as we all know; life can change in the blink of an eye. ING Employee Benefits is proud to be a participant in this important industry conference. For more information about our products and services, please visit our website at: www.ingemployeebenefits-us.com/payroll/. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. Improved Health Care Quality and Decreased Health Care Costs Go Hand In Hand for A.I.M.M. Clients Health care management group Ault International Medical Management (A.I.M.M.) and their client Mark Gow, Director of Human Resources at IAPWorldwide Services, will be sharing three years worth of health- plan case studies highlighting how A.I.M.M.’s PC3M® services achieved significant turn-around in the health plan members’ quality of health care and the health plan’s self-funded major medical costs, at the upcoming Workplace Benefits Association Conference. LEWIS CENTER, Ohio — Officials at Ault International Medical Management, LLC, announced this week that the organization, in conjunction with their client Mark Gow, Director of Human Resources for IAPWorldwide Services, will be speaking at the upcoming Workplace Benefits Association Conference February 13th in New Orleans, LA. Acceptance to participate in this conference gives further testimony to what A.I.M.M. clients and patients already know, that A.I.M.M. offers new best practices in workplace benefits, and is helping to share/lead an effort to improve the process and result for the service providers, consultants, employers and employees of both privately- and publicly-funded health plans. Since its inception in 2003, A.I.M.M. has endeavored to help organizations administer their employee health plans in an efficient and cost-effective manner while being sensitive to the personal needs of their employees. Family owned and operated, A.I.M.M. was founded with the intent to recapture the personal touch which has long been missing from the medical management industry. Rather than use a cookie-cutter, one-size-fits-all approach to managing employee health care, Registered Nurses at A.I.M.M. develop comprehensive care plans on an individual basis, assuring that employees receive the best, most appropriate care for their medical needs. This eliminates frustration for employees and reduces costs to employers, since care and treatment are consistent with each employee’s needs and are subsequently more effective. “A.I.M.M. was founded on the principle that a patient-centered approach to managing health care results in both high quality care and controlled costs for self-funded medical health plans,” said A.I.M.M. President Deborah Ault, RN, CMC, MBA. “We are delighted to have the opportunity to share with such innovative leaders the results we have been able to achieve. ”
For more information about A.I.M.M., contact Deborah Ault at
866-845-8854, or go online at Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. Darwin Establishes New Risk Management Program for Managed Care E&O Policyholders FARMINGTON, Conn., Feb. 5 /PRNewswire-FirstCall/ -- Darwin Professional Underwriters, Inc. (Darwin) (NYSE: DR) today announces the addition of a comprehensive risk management and loss control program for its managed care errors and omissions (E&O) liability policyholders. This is the newest addition to the company's suite of risk management programs, which Darwin provides to policyholders at no additional cost. www.darwinpro.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. MEDecision and Christiana Care Illustrate Economic Benefit of Electronic Health Records Healthcare and Technology Converge — Independent Study Validates Promise of Health Information Exchange WAYNE, Pa.--(BUSINESS WIRE)--Electronic Health Records available to emergency department physicians generate significant economic savings, according to the results of a study highlighted in a recent joint Webinar by MEDecision, Inc. (NASDAQ:MEDE), a provider of software, services and clinical content to healthcare payers, and Christiana Care Health System, one of the mid-Atlantic region’s largest healthcare providers. Validating the potential for health information exchange to quantifiably impact healthcare, the Webinar focuses on an economic benefit study by HealthCore, Inc., an outcomes research firm that analyzed the financial implications of providing MEDecision’s Patient Clinical Summary — a payer-based Electronic Health Record — to emergency department physicians at Christiana Care’s level-one trauma center in Wilmington, Delaware. www.MEDecision.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. Credit Suisse To Open Private Banking USA Office in Philadelphia NEW YORK--(BUSINESS WIRE)--Credit Suisse is pleased to announce that it will open a Private Banking USA office in Philadelphia to serve the wealth management needs of the growing number of high-net worth and ultra-high net worth individuals in the region. The office will be headed by Richard Jaffé, who joins Credit Suisse as a Managing Director. The office opening is another example of Credit Suisse’s strategy to expand its presence in major US wealth markets. Private Banking USA operates 13 offices across the U.S. and added locations in Orange County, CA and Rye Brook, NY in 2006. Credit Suisse is one of the world’s leading private banks, with a 150 year history of serving the unique needs of wealthy individuals. Private Banking USA combines the benefits of a boutique with access to professionals and product breadth of a world class global firm. Private Banking USA operates out of 13 offices across the United States and works with a select number of wealthy individuals and family groups to provide a high degree of personalized service. Private Banking USA works closely with all areas of Credit Suisse, providing clients with many of the same resources and services offered to the Bank’s largest and most sophisticated institutional investors. www.credit-suisse.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. Finally, A Reason to Feel Good About Healthcare Latest Principal Financial Group research shows wellness programs offer a win-win for employers and employees DES MOINES, Iowa--(BUSINESS WIRE)--Wellness works and employees at small to mid-sized companies know it. With participation in many employer-sponsored wellness programs at an all-time high, American workers want improved wellness and are taking personal steps to battle rising health costs. These findings, from the Principal Financial Well-Being IndexSM, describe wellness attitudes and behaviors among American workers. The results of the national survey, commissioned by the Principal Financial Group®, reveal some significant changes from the prior year: Participation in on-site health screenings has increased to more than 79 percent, up from just 68 percent in 2005. The majority of those surveyed (65 percent) have implemented a personalized action plan for high risk conditions, up from only 45 percent in the previous year. Fitness facility use is not just catching on, it has nearly doubled. Now 60 percent of employees take advantage of this benefit when offered (compared to 38 percent in 2005). www.principal.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. CIGNA Healthy Rewards Expands Health and Wellness Discounts for Members Adds more brand name products and services to encourage healthy living BLOOMFIELD, Conn., Feb. 5, 2007 /PRNewswire-FirstCall/ -- CIGNA HealthCare has expanded its Healthy Rewards(R) health and wellness discount amenity program to include discounts of up to 60 percent on physical fitness centers, wellness and stress management programs and oral health products. Healthy Rewards provides easy access to a variety of brand name health and wellness products and services at discounted prices to help members get healthy and stay healthy. www.cigna.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. AHCA to Aggressively Confront Any Efforts to Slash Medicare Funding for Nation's Most Vulnerable Seniors, Disabled Skilled Nursing Providers Warn Ongoing Care Quality Gains Will be Jeopardized, Sector Stability Undermined WASHINGTON, Feb. 2 /PRNewswire-USNewswire/ -- Over concerns of possible plans to target cuts in inflation updates in payments to various Medicare healthcare providers, the American Health Care Association (AHCA) said it would aggressively fight attempts by Congress or the Administration to cut the Medicare funding vital to America's most vulnerable seniors and disabled citizens. "We want to be very clear right at the outset: AHCA will aggressively fight any attempts by Congress or the Administration to illogically cut the very Medicare funds necessary to sustain the quality improvements now benefiting America's most vulnerable seniors and disabled citizens," warned Bruce Yarwood, President and CEO of AHCA. "Cutting Medicare and placing this key program on yet another fiscal roller coaster ride will undermine our sector's financial stability at a time we must prepare to successfully care for the imminent wave of baby boom retirees," he continued. "Proposing Medicare cuts makes no sense, flies in the face of demographic reality, and there is no good policy justification to legitimize this course of action." Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 20. INSURANCE NEWSCAST "Pictures Of The Day" -- Sponsored By:
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21. National Gay and Lesbian Task Force Reacts to Michigan Court Ruling Stripping Domestic Partner Benefits from Public Employees WASHINGTON, Feb. 2 /PRNewswire-USNewswire/ -- The following statement is from Matt Foreman, executive director, National Gay and Lesbian Task Force: "Today's ruling by the Michigan Court of Appeals that Michigan's anti-family amendment, passed in 2004, prohibits public employers from offering domestic partner benefits to employees is exactly what we all feared would happen. We all said the amendment was so vaguely worded that it could endanger domestic partner benefits. The proponents of the discriminatory amendment, Citizens for the Protection of Marriage and the American Family Association of Michigan, insisted that the language was only about marriage and had 'nothing to do with taking benefits away.' But that's exactly what is happening and I have no doubt that's exactly what they secretly wanted. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Financial Insights Warns Home Equity Lenders May Face Millions in Fraud Losses Web-facilitated expansion of fraud footprints threaten ongoing portfolio performance FRAMINGHAM, Mass.--(BUSINESS WIRE)--Leading independent research and advisory firm, Financial Insights, an IDC company, today announced the release of a report examining the results of new research into emerging fraud within home equity loan portfolios. Essential guidance is provided to lenders on how to recognize and manage this growing threat. www.financial-insights.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Sun Life Financial sponsors 2007 International Congress on Ethics Event draws attention to importance of ethics in business environment TORONTO, Feb. 2 /PRNewswire-FirstCall/ - Sun Life Financial Inc. today announced that it is the Official Sponsor of the 2007 International Congress on Ethics. The congress is an important global ethics event that reflects Sun Life's values and commitment to ethical business behaviour. The Congress will be held in Gatineau, Quebec from February 5 to 7, 2007, and organizers expect attendance by more than 300 top business, government and academic representatives from around the world. www.sunlife.com www.ice-cie.ca Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. HR411.com launches private label HR program for Professional Insurance Agents Association SHELTON, CT.—HR411™ has partnered with The Professional Insurance Agents of Connecticut, New Jersey, New Hampshire and New York to provide PIA members access to a private label version of HR411’s web-based human resources support and information portal. A service of HRinterax Inc., HR411.com provides a centralized point of access to hundreds of HR forms, checklists, easy reference guides, pre-employment screening solutions and a library of expert advice on both rare and common issues businesses face. An HR411™ membership also allows companies to protect their business by staying on top of ever-changing state and federal employment laws and regulations. www.HR411.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. 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
27.BANK INSURANCE NEWS IN BRIEF - FEBRUARY 5, 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
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