Daily Quote: “Action and reaction, ebb and flow, trial and error, change - this is the rhythm of living. Out of our over-confidence, fear; out of our fear, clearer vision, fresh hope. And out of hope, progress.” - - Bruce Barton (American Congressman, 1886- 1967)
Job Summary: Want to grow your career? Do you enjoy traveling and a flexible work schedule? Do you have sales experience? Join the UnumProvident team as a part-time, on-call benefit counselor responsible for delivering professional and educational "need-based" benefit presentations to diverse employee audiences. Qualifications:
We offer training and certification (including product and presentation materials), expense management, continuing education reimbursement and direct deposit. UnumProvident is a Fortune 250 insurance company and marketplace leader in disability income protection, supplemental and long term care insurance products. If you're the right individual to effectively communicate these solutions to our customers, please send your resume to:
UnumProvident Corporation Email address: Enrollerrecruiting@unumprovident.com - Fax: 866-210-7348 No phone calls please. Accepting resumes until the positions are filled.
UnumProvident is an equal
opportunity and affirmative action employer.
World War II Love Letters Editor's Note: Our good friend Bill Harris has been kind enough to share with us the release of his new video which is a special message that reinforces the values that make life insurance the unique product that it is. - Walt Podgurski, InsuranceBroadcasting,com San Diego -
02/13/07 - - On Valentine's Day, a 5 minute film, World War II Love
Letters, will be playing on computers across America for 24 hours.
Bill Harris, President of W.V.H., Inc. says, "We chose Feb. 14th as the
day to release the new version of World War II Love Letters since
life insurance and Valentine's Day are about the same thing, "the people
that you love." The new release of World War II Love Letters has
never seen before footage of the security given to letters during WWII
and of the bravery that so many soldiers championed. Bill Harris President W.V.H., Inc. 1-800-800-7253 Fax (858) 689-1886 http://www.wvhinc.com http://www.annuitytraining.net http://www.annuitytraining.net/218salesideas 1. Bernanke to say economy sound, inflation a risk Mon Feb 12, 2007 1:53AM EST By Mark Felsenthal WASHINGTON (Reuters) - Federal Reserve Chairman Ben Bernanke looks set to tell Congress this week that the U.S. economy is sound, but that the central bank is still concerned that inflation, while moderating, may not fully come to heel. In two days of testimony on the Fed's semiannual monetary policy report on Wednesday and Thursday, Bernanke can boast that the central bank's interest-rate strategy appears to have put the economy on track for a "soft landing" in which growth slows just enough to keep inflation at bay. At the same time, he will caution lawmakers -- and financial markets -- that a low-inflation outcome is not yet assured, and that the central bank stands ready to raise benchmark interest rates above their current 5.25 percent level to squelch bubbling price pressures if necessary. The Fed has held overnight borrowing costs steady since June, when it put in place the last of 17 straight rate increases. After their last meeting on January 30-31, Bernanke and his colleagues indicated concern that a tight labor market might make it difficult to bring inflation down. The U.S. jobless rate stood at a historically low 4.6 percent in January. "With the low unemployment rate, he remains concerned that core inflation might pick up again after having slowed a bit recently," said Maury Harris, chief U.S. economist for UBS in New York. 'UPBEAT ASSESSMENT' When he appears before the Senate Banking Committee on Wednesday and the House of Representatives' Financial Services panel on Thursday, Bernanke will be able to tell lawmakers that the worst is probably over for the U.S. housing market, which took a big tumble in 2006 after a multiyear boom. He can also note that inflation, which perked up to levels that made the central bank nervous last year, has moved down and is likely to continue to moderate as the economy grows at a pace slightly below its long-term speed limit. The economy expanded at an unexpectedly swift 3.5 percent annual clip in the closing quarter of 2006 despite the housing slump. However, core inflation moved ahead at just a 2.1 percent pace, down from 2.2 percent in the third quarter. Supporting the outlook for steady growth, data show that inventories of unsold homes are beginning to thin and that resilient U.S. consumers continue to spend. "Bernanke can be expected to provide an upbeat assessment of economic conditions," said Mickey Levy, chief economist at Bank of America in New York. "Bernanke will represent the views of the Fed that the economy will grow close to trend, and that the probability of a downturn is small. SEARCHING FOR CLUES As always, the Fed chief's testimony will be closely parsed by financial markets looking for clues on where interest rates are heading. When the Fed stepped to the sidelines last year, some analysts felt policy makers had not raised credit costs enough to thwart inflation. Later, as the depth of the housing downturn became clear, markets began to fear the Fed had gone too far and would have to change course early in 2007. Now, however, the Fed is expected to hold rates steady at least until mid-year. "In hindsight, the Fed's policy pause last summer was perfectly timed," said Ethan Harris, chief U.S. economist at Lehman Brothers in New York. "The Fed's forecasts for both growth and inflation have been right on target." Facing Democratic committee chairmen for the first time, Bernanke is likely to try to reassure them that stating an explicit target for inflation -- something Fed officials have been considering -- would never overshadow the central bank's other task of aiming for full employment. Some Democratic lawmakers, including the chairman of the House panel, Barney Frank of Massachusetts, worry a numeric inflation target might denigrate the full employment goal. Bernanke may also discuss whether the Fed will offer a more frequent look at its forecasts or whether it might even make its staff forecasts public as part of an initiative he has launched to offer the public and financial markets a clearer window into the central bank's thinking. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Florida Appeals Court Upholds Constitutionality Of Asbestos And Silica Medical Criteria Law AIA Filed Amicus Brief Supporting Law’s Retroactive Application ATLANTA, Feb. 9, 2007-A Florida intermediate appellate court has found that retroactive application of Florida's asbestos and silica medical criteria law is constitutional. AIA had joined with other trade associations in filing an amicus brief supporting the law. “AIA welcomes this decision, as it reaffirms a key feature of the Florida law: applying the medical criteria requirements to all asbestos cases, including cases already filed,” said Lynda S. Mounts, AIA deputy general counsel. “We hope that the reasoning in the opinion will be adopted in other states where AIA is currently defending the constitutionality of the medical criteria law.” The case, Daimler Chrysler v. Hurst, involved a lung cancer claimant who argued that retroactive application of the law was unconstitutional because it deprived him of a vested right. The Florida Third District Court of Appeal found that the law "does not impair or eliminate the plaintiff's right to sue for asbestos-related injuries. Rather [it] sets forth the procedures a plaintiff must follow to file or maintain an asbestos cause of action." Specifically, in setting forth the burden of proof that the plaintiff must meet, the law "merely affects the means and methods the plaintiff must follow" when filing a lawsuit. Finding the law procedural in nature, the court concluded that it may be applied retroactively. AIA joined an amicus brief in support of the law’s retroactive application with Associated Industries of Florida, the U.S. Chamber of Commerce, American Tort Reform Association, American Chemistry Council, and National Association of Manufacturers. If there is an appeal to the Florida Supreme Court, AIA anticipates defending the law there as well. www.aiadc.org. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Willis Group Champions Call for Transparency at European Commission Public Hearing New York, NY, February 9, 2007 – Embracing changes to the global insurance broking industry, challenging assumptions and breaking molds, Willis Group Holdings (NYSE:WSH) continued its outspoken leadership on transparency – actively disclosing fees to clients and encouraging other brokers to follow suit. As a reflection of its industry-leading position on this issue, Willis was the only global broker invited to share its experience of transparency at a public hearing in Brussels today on business insurance that was hosted by the European Commission (EC). At today’s public panel discussions, the EC presented the preliminary findings of a Europe-wide Sector Inquiry into competition in member states in relation to business insurance. Speaking on behalf of Willis, Richard Bucknall, Vice Chairman, reiterated the Group’s continued commitment to transparency citing it as a fundamental component to the broker-client relationship. “In representing our clients, we subscribe to the very simple view that they should know what we earn in exchange for the services and value we deliver, and that applies to all clients, small, medium and large,” Bucknall said. He went on to say, “Brokers who ignore their clients’ best interests do so at their own peril.” In conclusion, Bucknall said that while implementing transparency may have been something of a challenge given the vast number of changes needed – and the need for people to change the way they think – the benefits have created a more open and professional partnership between Willis and its clients. www.willis.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. Success in Alternative Investments Requires Focus on Governance, Watson Wyatt Says Advanced Investments Not Right for All Organizations WASHINGTON, Feb. 7 /PRNewswire-FirstCall/ -- Moving to new and advanced investment strategies has the potential to backfire on pension plans without strong governance models, according to experts at Watson Wyatt Worldwide, a leading global consulting firm. To take advantage of alternative investment opportunities, companies need to devote considerable resources to managing and monitoring their investments. "The quick growth of alternative investments, such as hedge funds, private equity and infrastructure, might lead some to conclude that everyone can benefit from such tools, but that is not the case," said Carl Hess, director of Watson Wyatt's investment consulting in North America. "Alternative investments will pay off consistently only for well-governed organizations. To delve into these investments before putting the needed governance in place is putting the cart before the horse." Driven by the need to better align their investment strategies with long- term pension liabilities, many plan sponsors are revisiting their fund's risk profile, restructuring their investment policies and looking for new ways to produce higher returns. Actively overseeing the investment process is critical to a successful outcome, Hess said. Organizations' investment strategies generally fall within one of three camps, and dictate what level of governance will be necessary: -- Cost minimizing - Managing down all costs to limit fees and other leakage from easily available investment returns. This typically focuses on equity and bond investing, and should appeal to companies with the lowest governance resources. -- Diversity seeking - Focused primarily on diversifying investments - perhaps by adding some alternative investments - and finding competitively priced, packaged market exposures with specific risks removed. This should appeal to organizations with sufficient governance resources to pursue some value-creation opportunities. -- Diversity and skill exploiting - Looking for significant investment diversity, including the nontraditional areas of private equity, hedge funds, infrastructure or real estate, and willing to accept a high proportion of risk based on the managers of those funds. This should appeal to companies willing to put in place the highest levels of governance. High levels of governance generally involve higher budgets and a greater devotion of time and expertise to monitoring investments. In addition, organizations that achieve high levels of governance tend to build teams with complementary skills and clear lines of accountability, making for more effective oversight. "Several years ago, pension plan sponsors had fairly simple decisions to make - decide the equity-bond split and then select asset managers to implement that asset allocation," Hess said. "But regulatory issues, product proliferation and competition have complicated these decisions. Sponsors have to deliberate and develop strategies that either take risk to create value or focus on minimizing risk." Further information on investment strategies can be found at http://www.watsonwyatt.com/buildingblocks. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
Come Join the American Fidelity Family! You will join a team of market leaders implementing customer-friendly worksite voluntary benefit programs to organizations with 15 to 500 employees throughout the United States with a strong presence in the auto dealer market. You will be a salaried career agent assigned to a protected sales territory with a pre-existing customer base and a large range of prospects. As a member of the AFA family, you’ll gain the ability to implement well-proven sales practices and successful market strategies as you move down a rewarding career path. The support, appreciation and compensation that you receive from AFA will affirm your importance as one of our select Colleagues.
Requirements: We are looking for:
Resumes should be sent to: Becky.Vanhoosen@af-group.com 5. LSE shares ease after Nasdaq bid fails Mon Feb 12, 2007 7:37AM EST By Pete Harrison LONDON (Reuters) - Shares in the London Stock Exchange eased on Monday after U.S. rival Nasdaq's 2.7 billion pound ($5.3 billion) bid failed. Nasdaq said on Saturday it had won just 0.41 percent of acceptances for its offer for Europe's largest share market which, combined with its existing stake of 28.75 percent, fell well short of the level of just over the 50 percent it needed to take control of the LSE. Shares in the London Stock Exchange, which has seen off four takeover attempts in the last two years, fell 0.9 percent to 1,271 pence by 0834 GMT, having touched 1,262p, but were still ahead of Nasdaq's 1,243p a share offer. "We think that there is imminent downward pressure," said analyst Johannes Thormann at West LB. "At the end, we see some 16 percent fundamental downside to our target price and are thus cutting the LSE's rating to 'reduce'," Thormann added. Other analysts said the shares were likely to hold relatively firm since investors and hedge funds have demonstrated they believe the LSE's future prospects underpin the share price level. Matt Buckland, trader at CMC Markets, said: "Nasdaq's shares are likely to come off as they'd made a big hoohah about getting it." The LSE has said the boom in electronic trading, together with its ability to attract companies from around the globe to list on its exchange in an environment of benign regulation means it is worth considerably more than 1,243p. Speculation now focuses on what Nasdaq intends to do with its stake, which on average -- taking into account the foreign exchange hedge on its investment and the LSE's share buyback -- cost it around 1,100p per share. "There is still the possibility that Nasdaq could dump its 28.75 stake into the market," said Thormann. "Although this threat has been made by CEO Bob Greifeld, we do think that this is very unlikely, because it would at least partly be self-destructive." A combination of the Nasdaq and LSE would have created the world's second transatlantic exchange with a market value of the shares quoted on it of $11.8 trillion. Under UK takeover rules Nasdaq cannot bid for another 12 months. (Additional reporting by Sitaraman Shankar) Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 6. Reinsurer Scor non-life sales up less than forecast PARIS, Feb 12 (Reuters) - French reinsurer Scor (SCOR.PA: ) said on Monday that sales of renewed non-life reinsurance contracts had risen 10 percent from the previous year, but its shares fell as analysts said the rise was below expectations. Scor said January sales and contract renewals amounted to 1.179 billion euros ($1.5 billion) as the company benefited from a credit rating upgrade to 'A' status and added it had largely recovered its share of business lost between 2002 and 2003. Scor added that market conditions were favourable. "The market environment has been marked by satisfactory conditions of cover and pricing. On the whole, the renewals proceeded in accordance with the group's expectations, as set out in the underwriting plan," Scor said in a statement. However, Scor shares were down 3.4 percent at 20.99 euros in mid-morning trade on disappointment over the sales rise. "While this growth is comfortably ahead of renewals reported so far, management had been talking of 15 percent premium growth for 2007, which makes this data a little disappointing," Goldman Sachs said in a research note. Scor shares have fallen around 6 percent since the start of 2007, underperforming a 3 percent gain in the DJ Stoxx European insurance index (.SXIP: ). ((Reporting by Sudip Kar-Gupta; editing by Jane Baird; Reuters Messaging: sudip.kargupta.reuters.com@reuters.net; +33 1 49 49 54 52)) ($1=.7697 Euro) Keywords: SCOR RENEWALS/ (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. Fiserv Health Offers New Provider Network in Northeast and Southeast Wisconsin Trilogy Health Networks and Fiserv Health Enter into Five Year Contract BROOKFIELD, Wis.--(BUSINESS WIRE)--Fiserv Health, a business group of Fiserv Inc. (NASDAQ:FISV), today announced an agreement with Trilogy Health Networks as the exclusive administrator of a new provider network featuring competitively discounted rates to self-funded employers in northeastern and southeastern Wisconsin. The network, created by Trilogy Health Insurance Inc., will be available by April 2007. Trilogy Health Insurance also will sell fully insured health insurance featuring this network to small businesses beginning in April 2007. Management, customer service and medical underwriting will be provided locally from its Brookfield, Wis., headquarters. Fiserv Health will assist Trilogy by providing claims processing and additional administrative services through Avidyn Health, Innoviant Prescription Benefits Administration and ppoONE. www.fiservhealth.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. Disaster Survivors Should Not Wait for Insurance Settlement Before Applying for SBA Assistance ORLANDO, Fla., Feb. 9 /PRNewswire/ -- Florida disaster survivors should not wait to settle with their insurance companies before applying for disaster loan assistance. SBA encourages survivors of the severe storms and tornadoes that occurred on February 1-2, 2007 to return their completed applications, even if they have not settled with their insurance company. "Waiting to file an application could cause unnecessary delays in receiving disaster assistance, and could cause disaster survivors to miss the SBA application deadline," according to Frank Skaggs, Director of SBA Field Operations Center East. "SBA's Disaster Loan Representatives are available at Disaster Recovery Centers located throughout the disaster area to answer questions and provide one-on-one assistance with completing the applications." Homeowners, renters, and business owners who are not fully covered by insurance may need additional funding to replace items and complete the repairs. "A disaster loan could close the funding gap and provide the necessary financing to help survivors recover from their losses," added Skaggs. If a survivor does not know how much of their loss will be covered by insurance or other sources, SBA will consider making a loan for the total loss up to its loan limits, provided the borrower agrees to use insurance proceeds to reduce or repay their SBA loan. SBA disaster loans cover losses that are not covered by insurance, grants, or other forms of disaster assistance -- there can be no duplication of benefits. If a mortgage-holder on real property, business machinery and/or equipment has legal control of the insurance proceeds and requires that the proceeds be applied to reduce the lien balance, then those funds would not be deducted from the uncompensated physical loss. If the applicant elects to apply the insurance proceeds to the reduction of an existing mortgage or if the applicant requests the lender to demand payment, then the insurance proceeds would be considered a duplication of benefit and must be deducted from the uncompensated physical loss. Disaster loans up to $200,000 are available to homeowners to repair or replace damaged or destroyed real estate. Homeowners and renters are eligible up to $40,000 to repair or replace damaged or destroyed personal property. Businesses of any size and private non-profit organizations may borrow up to $1.5 million to repair or replace damaged or destroyed real estate, machinery and equipment, inventory, and other business assets. For small businesses only, SBA offers Economic Injury Disaster Loans (EIDLs) to help meet working capital needs caused by the disaster. EIDL assistance is available regardless of whether the business suffered any property damage. Anyone who has not registered with FEMA can call the FEMA registration line at 1-800-621-FEMA (3362). Individuals with hearing or speech impairments should call (TTY) 1-800-462-7585. Disaster survivors can also register online at http://www.fema.gov. Those unable to visit the Centers and who have registered with FEMA may obtain an application by calling the SBA's Customer Service Center at 1-800-659-2955 (1-800-877-8339 for the hearing-impaired) Monday through Friday from 8 a.m. until 9 p.m. EST. Business loan applications can also be downloaded from the SBA website at http://www.sba.gov/services/disasterassistance. Completed applications should be returned to the Centers or mailed to: U.S. Small Business Administration, Processing and Disbursement Center, 14925 Kingsport Road, Fort Worth, TX. 76155. The filing deadline to return applications for physical property damage is April 4, 2007. The deadline to return economic injury applications is November 5, 2007. For more information about the SBA's Disaster Loan Programs, visit our website at http://www.sba.gov/services/disasterassistance. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. NAVA Launches Industry-Wide Initiative to Standardize an Automated Annuity Sales Process STP Initiative Backed by Industry to Streamline Purchasing Process and Help Prevent Unsuitable Sales RESTON, Va.--(BUSINESS WIRE)--NAVA today announced an industry-backed initiative to establish a comprehensive set of standards for simplifying and improving the electronic annuity purchasing process for consumers, insurers, distributors, and regulators. The goal of NAVA’s Straight-Through Processing Standards Initiative (STP Initiative) is to (1) create a set of operational standards for a process that is paper free, (2) garner regulatory acceptance of the process and (3) assist the industry in the implementation of the STP standards. In agreeing with these uniform processes and procedures, the industry intends to establish a means of delivering clearer information about annuities to better inform consumers. There are twenty-four sets of STP standards which were developed in strict compliance with state and federal laws and regulations. If presented with different requirements, in most circumstances, the highest standard was chosen. www.RetireOnYourTerms.com www.navanet.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. New Hampshire Businesses Commit to National Initiative for Improving Quality and Value in Health Care WASHINGTON, Feb. 9 /PRNewswire-USNewswire/ -- In a meeting today in Manchester with HHS Secretary Mike Leavitt, executives from New Hampshire businesses signed statements of support for a national initiative aimed at improving health care quality, information and cost-effectiveness for employees and their families. In addition, the employers will support health information technology by encouraging the use of recognized interoperability standards in the health IT products used by their health plans. They also pledged to develop incentives for achieving better value in health care, including incentives for high quality care and for more active involvement by employees in choosing their health care services. These four actions are the "cornerstones" of an initiative launched last November by Secretary Leavitt. By committing to these actions, the New Hampshire employers are joining a growing number of states and companies that are pledging to make quality and price information available to health plan enrollees in order to enable them to compare providers when they purchase health care services. "I am proud that leading New Hampshire employers are choosing to support these four cornerstones to achieve better health care and better value for employees and their families," Secretary Leavitt said. "Until now, it has not been possible for patients to learn in advance about the quality of care they can expect to receive from a provider, or the cost of the services they will incur. By making this information available, employers can help their employees get better care and better value in health care." For most purchases, consumers expect to compare cost and quality as they make decisions. But until now, this information has not been available in the health care sector. Patients have not been able to compare provider performance, either on dimensions of quality or on cost. "With the commitment that employers like these are now making, this situation will change," Secretary Leavitt said. "Patients will come to expect quality and performance information about health care providers. They will expect to have price or cost information in advance to make good value decisions about their care. They will use this information to improve health care value for themselves and their families. And the choices they make will help improve value and health care quality across the health care sector." Six regional pilot projects were established last year under the Better Quality Information for Medicare Beneficiaries (BQIMB) project, in Massachusetts, Indiana, Wisconsin, Minnesota, Arizona and California. These organizations also support the four national goals, referred to by Secretary Leavitt as "cornerstones" for improving health care value. President Bush committed federal health programs to these four "cornerstones" through an Executive Order last August. In November, Secretary Leavitt invited all employers, in both the private and public sectors, to take these same four steps. By committing to these goals, he said, "Our individual actions will be aligned toward reaching the common national goal of better health care at lower cost." More information is available at http://www.hhs.gov/transparency. For a full list of companies who have signed statements of support, including those signing in New Hampshire today, visit: http://www.hhs.gov/transparency/employers/statements.html. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 11. 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
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. BANK INSURANCE NEWS IN BRIEF - FEBRUARY 12, 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 13. Number of Millionaire Households Increases By Over 50% in Past Three Years Phoenix Marketing International logo. (PRNewsFoto) SOMERSET, NJ USA 02/14/2005 Phoenix Marketing International Research Shows Strong Growth in Numbers of Wealthy Households in the U.S. Since 2003 RHINEBECK, N.Y., Feb. 2 /PRNewswire/ -- The latest data from Phoenix Marketing International's Affluent Marketing Service (AMS) reveals that the number of millionaire households in the U.S. now stands at 5.4 million, soaring 56% since 2003. The Phoenix study defines a "millionaire" household as one having at least $ 1 million in liquid or "investable" assets. "The extraordinary gains in the millionaire households population in the past three years is a function of their asset allocations and access to products that can maximize market gains," states David M. Thompson, Vice President at Phoenix Marketing International. Indeed, their growth in numbers has eclipsed that of the S&P 500, which gained nearly 30% from mid-year 2003 to mid-year 2006. The Phoenix data also points to strong growth in even wealthier households. The number of Penta-Millionaire households, those having at last $5 million or more in liquid wealth, has grown to 755,000 nationally, an increase of 47% since 2003. www.phoenixmi.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. AIG VALIC Expands Independent Advice Platform to Serve Participants in Retirement Guided Portfolio Services (GPS) Exceeds $5 Billion in Assets Under Management Milestone as New Capabilities for Clients Entering Income Distribution Phase of Retirement Are Launched HOUSTON--(BUSINESS WIRE)--AIG VALIC, a national leading provider of retirement plan services to for-profit and not-for-profit education, healthcare and government organizations, today announced that Guided Portfolio ServicesSM (GPS), its independent advice and managed-account platform offered through VALIC Financial Advisors, Inc., has been expanded to offer comprehensive capabilities to clients entering the income distribution phase of retirement. Launched in January 2003, GPS delivers comprehensive investment advice and discretionary managed accounts services to individual participants in employer-sponsored defined contribution retirement plans – principally in the accumulation and transition phases of retirement planning. Entering 2007, GPS has been expanded to service clients entering the distribution phase of retirement by providing personal wealth forecasts, comprehensive portfolio construction and ongoing portfolio optimization. “With assets under management topping $5 billion, we believe that GPS is the largest independent advice and managed account platform in the qualified group retirement planning market today and we are pleased to extend it’s capabilities to clients seeking guidance in managing their income in retirement,” said Bruce R. Abrams, President and CEO of VALIC and the VALIC Retirement Services Company. “Helping clients manage their income in retirement represents arguably the greatest arena of opportunity for the retirement savings industry and for market leaders like AIG VALIC. We are well positioned to further help the Baby Boomer generation manage their accumulated wealth in retirement with the introduction of these expanded capabilities.” Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. Blue Cross to Expand Life and Disability Offerings Through USAble Marketing Agreement, Sale of Existing Business Allows for Wider Variety of Insurance Products, Technological Expertise and Economies of Scale EAGAN, Minn., Feb. 9 /PRNewswire/ -- Blue Cross and Blue Shield of Minnesota (Blue Cross) has entered into an exclusive agreement to sell and integrate market-leading life and disability products from USAble Life (USAble). Separate agreements will allow Blue Cross to market USAble products, while selling its existing life and disability business to USAble. Currently, Blue Cross' life and disability products are sold through an affiliate, MII Life Inc. "USAble can offer products for larger Minnesota companies with members outside of Minnesota, which has become a significant portion of Blue Cross' health plan business," Morrow added. Blue Cross' existing life and disability block of business provides insurance of this type to more than 160,000 people. www.bluecrossmn.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. Camford National Opens as Specialty Lines Wholesale Insurance Broker David O'Keeffe is president of the new E&S lines specialist Lebanon, N.J. – February 12, 2007 – Camford National Insurance Brokers, LLC (www.camfordnational.com), today announced that it has opened as a specialty lines wholesale insurance brokerage serving property and casualty agents and brokers both nationally and internationally. Camford National will specialize in serving excess & surplus (E&S) lines and industries with hard-to-place risks. Coverage is placed on an admitted and non-admitted basis through carriers rated A- or better by A.M. Best, with products that include: • Commercial General Liability and Property • Commercial Package – Commercial Property/Commercial General Liability/Liquor • Excess & Umbrella Liability • Environmental Liability, including Professional Liability • Products Liability, including Discontinued Products Liability • Professional Liability/Miscellaneous E&O/Employment Related Practices • Inland Marine • Wrap Up Commercial General Liability – Condo/Co-Op/Residential Industries served by Camford National include: commercial and residential general contractors and trade contractors, commercial trucking, manufacturing, real estate (habitational and commercial), retail, pharmaceutical and nutraceutical, importers and exporters, restaurants and taverns, chemical, sports and entertainment products, crane contracting, heavy equipment sales and manufacturing, machinery, petroleum, medical devices, cosmetics, tools, consumable products, and processing. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. Anderson Kill Selected As Exclusive Law Firm Partner of RIMS Educational Programs New York, NY (February 12, 2007) - Anderson Kill & Olick, P.C. is pleased to announce that it has been selected as the exclusive law firm partner for the Risk & Insurance Management Society’s (RIMS) PERK 2007 educational program. Anderson Kill has developed a program entitled ‘How to Evaluate and Settle an Insurance Claim.’ This program will help companies to get a handle on the complexities of multi party claims and understand how to achieve proper value in claims settlements. Litigation has become too common a means of resolving large insurance claims, and insurance recovery litigation for policyholders can be costly and disruptive. The business pressures to settle sometimes lead to the policyholder facing pressure to “discount” claims. In addition, complex, multi-party claims are particularly challenging. A well-reasoned strategy can be the best way to resolve these disputes quickly, inexpensively, and on terms favorable to policyholders. Overall, 13 PERK program topics are available in 2007. Sessions generally include a 60-90-minute presentation followed by opportunities for interaction. To request a session or for more information please call (212) 655-6041, PERK@RIMS.org or www.RIMS.org/PERK. There is no cost to the chapters. www.andersonkill.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18.
INDUSTRY START-UP IRONSHORE RECEIVES AN A- RATING FROM AM BEST Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. INSURANCE NEWSCAST "Pictures Of The Day" -- Sponsored By:
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