The Colonial Supplemental Insurance Division of the Paul Revere Life Insurance Company is an industry leader with a strong commitment to help you achieve your career goals. We provide classroom education on products, sales techniques and service. As a member of our sales team, you can enjoy high advance commissions, bonuses and renewal commissions. The advantages we offer include:
We are looking for:
So put the Colonial Advantage to work for you today. Learn more about us by logging on to www.colonial-paulrevere.com For career opportunities contact: Melissa J. Hemdal, 800.975.0658 or mjhemdal@coloniallife.com Colonial Supplemental Division products are underwritten by: The Paul Revere Life Insurance Company, Worchester, Massachusetts. Administrative office: Colonial Supplemental Insurance Division, 1200 Colonial Life Boulevard, Columbia, SC 29210. www.colonial-paulrevere.com Daily Quote: "Knowledge is power." - - Francis Bacon
Since we opened our unique Volunteers Insurance Service (VIS®) program to other agents, brokers and program administrators in 2005, more than 60 have enrolled their nonprofit customers’ volunteers with us, through our easy-to-use Website: www.cimaworld.com/agent. By doing so, they not only have offered their customers an excellent solution to protecting volunteers, they also have earned new revenue. We pay you 12% commission on new business that you write with us, and on the renewal of that business. Once we receive the initial application, we handle all of the administration. VIS® at a glance – For 40 years, we have been offering protection for the volunteer workers of nonprofit organizations. The following coverages are available, separately or in any combination:
More than 2.5 million volunteers – working for more than 5,000 nonprofit organizations -- are insured with VIS®. Policy premiums range from a few hundred dollars to as much as $20,000 for the larger nonprofits. Not only the best way, but also the easiest way, to cover volunteers -- All you need to do is go to www.cimaworld.com/agent. (This is part of the Website of The CIMA Companies, Inc., which administers the VIS® program.) You will see a detailed explanation of the program, and a link to our Producer’s Agreement. The agreement is brief, and once you click on “I Agree” on that page, we have an agreement. At that point, you are ready to complete an online application, which will take you less than five minutes. You can either submit the app online, or print it to mail later. If you have questions, please call Vicki Brooks or Laurie Coleman at 1.800.468.4200 or email them at vbrooks@cimaworld.com, or lcoleman@cimaworld.com. We hope you’ll be participating with us soon! 1. PIA Will Oppose Bill to Repeal McCarran-Ferguson Antitrust Exemption Proposal is “Powerful Prescription for Unintended Consequences,” Would Create a Flood of New Litigation WASHINGTON — A bill to amend the insurance industry’s 62-year-old statutory immunity from federal antitrust law is part of a bigger fight for control of insurance regulation that will endanger the stability of the entire insurance marketplace and create the unintended consequence of a flood of new litigation, according to the National Association of Professional Insurance Agents. The Insurance Industry Competition Act (S. 618) would amend the 1945 McCarran-Ferguson Act to permit the Federal Trade Commission (FTC) and the U.S. Department of Justice to enforce federal antitrust laws and regulations on the insurance industry. Currently under McCarran-Ferguson, the states regulate the business of insurance. “This is the opening move in a long chess game for control of insurance regulation,” said PIA Executive Vice President & CEO Len Brevik. “The federal government has never found an industry it didn’t want to regulate. This is a back-door attempt to bring about a federal takeover of insurance regulation. They can’t pass the optional federal charter, so they move on and try to tie it to a repeal of McCarran-Ferguson.” Brevik noted that a spokesman for the American Insurance Association is expressing support for discussing a repeal of McCarran-Ferguson, so long as it is paired with consideration of optional federal charter legislation. PIA Senior Vice President Patricia A. Borowski noted that in addition to subjecting the insurance industry to federal antitrust laws, the Insurance Industry Competition Act would also replace McCarran-Ferguson’s specific grant of insurance oversight to the states with a “state action doctrine” that will open the door to a big increase in litigation of insurance-related matters. “The antitrust exemption that is granted by McCarran-Ferguson is extremely limited,” Borowski said. “The other thing McCarran-Ferguson does is it specifically grants insurance oversight to the states. What the Insurance Industry Competition Act would do is replace this specific grant of authority to the states with the state action doctrine. The former grants the authority to the states and the latter is a mere legal premise for the states to ‘argue’ that they have authority, subject to continuing interpretation by the courts on a case-by-case basis.” “This bill is a powerful prescription for unintended consequences,” Borowski said. “It would inadvertently turn over oversight authority matters to the courts. It does nothing to advance insurance regulatory modernization; in fact, it would bring modernization efforts to a halt by creating a legal morass that would stifle open competition by insurers, both large and small.” Borowski added that the bill could give more insurance oversight power to state Attorneys General instead of state legislators or governors, while at the same time creating an overlapping 56th insurance jurisdiction at the federal level – an additional layer of federal oversight that would conflict with existing state oversight and the body of state insurance laws and legal precedents established over the past six decades. “While the frustration experienced by Members of Congress and their constituents in the aftermath of Hurricane Katrina is understandable, and the actions of some insurers raise legitimate questions, this bill will ruin the insurance marketplace countrywide,” Borowski said. “We have a good system of insurance regulation now. This bill would replace it with no system. It would ultimately be hurtful to the very consumers it is designed to help.” Brevik said PIA will oppose the Insurance Industry Competition Act during its upcoming PIA Federal Legislative Summit March 28-29 in Washington, D.C. www.pianet.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. NAIC Working Group Takes Step Toward Multi-State Catastrophe Fund KANSAS CITY, Mo. (Feb. 20, 2007) - Following a recent meeting of the National Association of Insurance Commissioners (NAIC) Property and Casualty Insurance (C) Committee’s Catastrophe Insurance Working Group, an agreement has been reached to evaluate modeling for multi-state funding of catastrophes such as hurricanes or earthquakes. The agreement came out of a meeting to discuss catastrophe preparedness and the potential development of a multi-state catastrophe fund. During the two-day meeting held last week in Atlanta, the members heard from catastrophe modelers and catastrophe fund managers on modeling issues, including coverage for a wide range of perils within the scope of the catastrophe fund. Representatives from the University of Florida and the Federal Alliance for Safe Homes briefed the Working Group on the research efforts and grass-roots education, respectively, to strengthen building codes and improve residential structures to better withstand hurricane and other storm-related effects. The Members saw a demonstration of a wind tower used to gather thousands of discrete readings during hurricanes and other storms. Following the testimony, Members and interested parties held interactive, facilitated discussions on what perils to include in the multi-state fund, as well as what type of governance structure is appropriate for such a fund. The group agreed to evaluate the modeling of a multi-state fund for a single peril such as a hurricane or earthquake in order to capture the geographic and temporal advantages of pooling multi-state risk. The group also agreed to explore the use of an interstate compact as a vehicle for a multi-state catastrophe funding mechanism. “A multi-state catastrophe fund will allow states to pool their risks and resources in a tax-advantaged fund to help ensure for consumers the availability, accessibility and affordability of insurance involving a range of natural catastrophes,” said Florida Insurance Commissioner Kevin McCarty, Chair of the Committee and Working Group. “We made significant inroads in identifying the many facets of this complex issue, and are proceeding forward in developing the scope and structure of a multi-state fund.” The Catastrophe Insurance (C) Working Group will meet at 1 p.m. Monday, March 12, 2007, during the NAIC’s 2007 Spring National Meeting at the New York Hilton to discuss specifics of its developing proposal. www.naic.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Health care spending seen doubling in 10 years Wed Feb 21, 2007 8:26AM EST By Susan Heavey WASHINGTON (Reuters) - U.S. spending on prescription drugs, hospital care and other health services is expected to double to $4.1 trillion over the next decade, up from $2.1 trillion in 2006, a government report released on Wednesday found. Despite relative stability in recent years, nearly 20 cents of every dollar spent in 10 years will go toward health care, National Health Statistics Group economists said in their projections looking at 2006 to 2016. Last year's health spending should make up about 16 cents for every dollar spent, they wrote in the journal Health Affairs. Lead author John Poisal told reporters a major factor was an aging population as the "leading edge of the baby boom generation becomes eligible for Medicare," the nation's insurance program for those age 65 and older. Greater spending for prescription medications is expected to fuel much of the increase, Poisal and his team said, especially amid more aggressive treatment of diabetes, heart issues and conditions affecting the central nervous system. Use of cheaper generic alternatives is also seen leveling off, the group found. Some drugs will be introduced in pill and other forms more easily available at pharmacies rather than injectable versions used only at doctor offices. New therapies to treat cancer and other diseases could also increase prescription drug use, they added. Those paying for prescription drugs is also shifting, according to the report, which also looks at the potential 2006 impact of a new prescription drug benefit for Medicare beneficiaries, who also include the disabled. The program, known as Part D, will absorb a greater share of prescription drug costs from private health insurers, consumers and Medicaid, the federal-state insurance plan for the poor, they wrote. "In general, Part D is doing what it's supposed to," said Poisal, the National Health Statistics Group's deputy director. The group is part of the U.S. Centers for Medicare and Medicaid Services, which runs both insurance programs and is the largest payer of U.S. health care. At the same time, the report found the cost of drugs, devices and services such as doctors visits are expected to continue the rise, increasing out-of-pocket costs for those with private insurance. While growth in spending on hospital and doctor care is seen slowing in 2006, the researchers expect that to change this year and continue to increase. "Despite rising costs, consumers continue to purchase costly existing and new health care technologies," they wrote. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. New Proposals for Health Reform - Galen Reports | Consensus Group & Other Information 2/20/2007 9:31:00 AM By Grace-Marie Turner Health care clearly has become a top-tier issue, with governors, presidential candidates, business and labor coalitions, and now President Bush all offering dramatic new proposals for reform. Mr. Bush has taken a different approach than most of the others. Instead of new mandates and expanding public programs to achieve universal coverage, he would start by creating new incentives for millions of people to buy more affordable private health insurance. While the leadership in Congress says the plan is dead on arrival, analysts from both sides of the aisle agree it offers a fresh approach. Mr. Bush would give families the opportunity to own health insurance that is portable from job to job, and he would free up some of their tax money to help them buy the coverage. The White House estimates his plan also would give a tax cut to 100 million working Americans, without any new long-term costs to the federal treasury. The centerpiece of Mr. Bush’s plan is a new standard deduction for health insurance. It would be available to any taxpayer, employed or not, who buys qualifying health insurance. Families would get a new $15,000 standard tax deduction and individuals, $7,500. You need not itemize and will get the full deduction even if the policy you buy costs less, as long as its meets certain minimum requirements for catastrophic coverage. Families earning $50,000 a year could save more than $4,300 in income and payroll taxes and use the tax savings to buy health insurance. Those with lower incomes can save money even if they don’t own income taxes. For example, if you are a family of four earning $35,000 a year and claim the child tax credit, you generally don’t owe income taxes. But if you claim the new $15,000 standard deduction for health insurance that Mr. Bush is proposing, you would save about $2,300 in Medicare and Social Security taxes, new money to help you buy health insurance. But for most of the insured, this would not be enough. As a result, the president wants to free up billions of dollars in existing federal payments to the states that they could use to provide additional subsidies for the uninsured to buy insurance – including refundable tax credits or vouchers. The states also would be required to set up new purchasing pool arrangements that offer more affordable coverage. For those who get health insurance at work, employers now must count the value of the worker’s policy as taxable income. But many are worried that this would mean a tax increase for workers with “gold-plated” policies. If your health insurance policy is worth more than $15,000 a year (and some executive and labor union policies are), then you would have to pay taxes on the difference. If you have a $20,000 policy, for example, then $5,000 of it would be subject to taxes. But capping the unlimited tax break for these rich policies would give you a big incentive to negotiate a policy that stays under the $15,000 limit (a number which would be adjusted for general price inflation every year) to avoid paying any new taxes. While people are scrambling to see how this new policy affects them, several things are clear: • The White House estimates three to five million uninsured Americans would buy health insurance with the income and payroll tax savings they will receive from the new standard deduction. This would be a measurable drop in the number of uninsured, with no new costs to the treasury. (Other estimates put a higher price on the president’s plan but also assume several times as many of the uninsured get coverage.) • The new tax deduction would eliminate one of the major hidden forces driving up health cost – the unlimited tax break for job-based health insurance – and level the playing field so that everyone would have an equal opportunity to get a tax break for buying insurance. The debate over health reform is getting more clearly defined: Some believe that the solution lies in expanding public programs, while others believe that the free market has the potential to get health insurance costs down and to provide people with greater access to more affordable choices. It’s an important conversation, and with solid proposals on both sides, the debate now begins. Grace-Marie Turner is president of the Galen Institute, a non-profit public policy organization that specializes in health and tax policy. Galen Institute, Inc., Grace-Marie Turner, President, Post Office Box 19080, Alexandria, VA 22320, 703.299.8900, 703.299.0721 Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
6. Canada's Sun Life favors U.S. for acquisitions By Nicole Mordant VANCOUVER, British Columbia , Feb 21 (Reuters) - The United States is the most likely acquisition ground for Sun Life Financial Inc. (SLF.TO: Quote, Profile, Research), its chief executive said, five weeks after the large Canadian insurer snapped up a U.S.-based employee benefits business. "The U.S. would be the most likely area (for acquisitions). We've occasionally evoked a little bit of surprise in the market by showing up in one or two other places," Sun Life CEO Donald Stewart said. ($1=$1.17 Canadian) ((Reporting by Nicole Mordant, editing by Janet Guttsman; Reuters Messaging: nicole.mordant.reuters.com@reuters.net; +604 664 7315)) Keywords: SUNLIFE ACQUISITIONS (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. - AIA Calls U.S. Supreme Court Punitive Damage Ruling Victory for Policyholders Washington, D.C., Feb. 20, 2007–Today’s U.S. Supreme Court ruling in the Philip Morris USA punitive damages case “is very important in restraining abusive litigation costs that are ultimately paid by families and businesses in higher product and insurance costs and lost productivity,” said David Snyder, vice president and assistant general counsel, American Insurance Association (AIA). In the case, Philip Morris USA v. Mayola Williams, the U.S. Supreme Court agreed that a $79.5 million punitive damage award granted by an Oregon jury to the Williams estate unconstitutionally punished the company for alleged injuries to nonparties who were not before the court and were, in effect, “strangers to the litigation.” The jury had awarded the Williams estate $821,000 in compensatory damages, making for a roughly 100-to-1 ratio between the punitive damage award and the compensatory award. AIA filed an amicus brief in the case urging the Court to prohibit the imposition of punitive damages to punish a defendant for conduct directed at nonparties. In State Farm, AIA in 2003 successfully urged the Court to restrict punitive damage awards. The Court not only maintains these restrictions in its decision today, but appropriately takes them one step further. “Any decision that restrains damages is important,” said Snyder. “Punitive damages are used to leverage higher settlements.” In its 5-4 decision, the Court noted that punitive damages may be properly imposed to further a state’s legitimate interests in punishing unlawful conduct and deter it from happening again. But unless a state insists upon proper standards to restrain a jury’s discretionary authority, a state’s punitive damage system may deprive a defendant of fair notice of the severity of the penalty that a state may impose. “It’s important to lay down clear rules,” Snyder stated. “The Supreme Court has turned back efforts to muddy that clarity. We think this decision maintains fairness, protects competitiveness and should help to hold down costs.” www.aiadc.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. NEW EXPERT COMMENTARY FROM IRMI.COM There are now over 800 risk management and insurance articles on IRMI.com. Below you'll find summaries of some recent additions with links to the articles. TERRORISM INSURANCE REVIEW AND PREVIEW (Part 1) - James Macdonald lists the seven most important events of 2006 and discusses how they relate to the changing nature of the terrorism threat. http://www.irmi.com/expert/articles/2007/Macdonald02.aspx COMMERCIAL INSURANCE PREMIUMS INDICATE MARKET MOMENTUM - The Q4 2006 RIMS Benchmark Survey reflected some of the year's most dramatic rate changes in commercial insurance premiums. http://www.irmi.com/expert/articles/2007/Advisen02.aspx MANAGING THE RISKS OF A HOUSEHOLD MOVE - Jack Hungelmann takes a close look at the exposures created when moving from one house to another, and provides strategies for handling these risks. http://www.irmi.com/expert/articles/2007/Hungelmann02.aspx POLLUTION EXCLUSIONS IN CGL POLICY BARS COVERAGE FOR CARBON MONOXIDE POISONING - Kent Holland shows how identical facts can result in completely different rulings, depending on the jurisdiction. http://www.irmi.com/expert/articles/2007/Holland02.aspx PROXIMATE CAUSE VERSUS RELAXED STANDARD OF CAUSATION IN A JONES ACT CONTEXT - While a recent decision appears to affirm a commonly held maritime belief, Michael Orlando feels the case may have deeper significance. http://www.irmi.com/expert/articles/2007/Orlando02.aspx HOW COMPANIES ARE BRACING FOR EEOC CLASS ACTION INITIATIVE GOALS - With the government stating its intent to address systemic workplace discrimination, employers should consider preventive practices. Paul Siegel explains. http://www.irmi.com/expert/articles/2007/Siegel02.aspx Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. 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 10. Long-Term Care: What Is The Government Planning? BY GERALD O. SUMMERS If you’ve researched health care at all, you’re probably aware that the government has made it clear that it doesn’t plan to be the primary source of funding for the nation’s long-term care expenses. However, the government has offered help in the form of tax incentives for certain long-term care insurance policies. In the early days of long-term care insurance, there were no real tax breaks for purchasing an LTC policy—just your own peace of mind that you were covered in case the need arose. Then, in 1996, the federal government passed the Health Insurance Portability and Accountability Act (HIPAA). Among other things, HIPAA allows for tax deductions for long-term care insurance premiums if the policies meet certain requirements. It also allows benefits to be received tax-free. Since the advent of HIPAA, many states now also offer tax incentives for these “tax-qualified” LTC policies. To qualify for a tax deduction, your total medical expenses, including a portion of premiums for a tax-qualified long-term care insurance policy, must total at least 7.5 percent of your adjusted gross income. Any amount over that 7.5 percent can be deducted. And, the older you are, the more of your LTC insurance premiums apply to your tax-deductible amount. You must itemize your taxes to take advantage of this incentive. The tax advantages are even greater if you are a business owner. Long-term care cost issues will be kicked about for years to come. I strongly believe knowledge is a useful tool for our clients and ourselves to utilize and to find practical solutions for our aging population. I’m sharing this information not to give tax or legal advice, but bring awareness to a possible financial, legal, and undesirable dilemma in the future. Our government is slowly shifting the burden of long-term care costs to the private sector with tax incentives and partnership programs to reduce the strain on Medicaid. If that is not successful it looks as if many states have a plan B. Gerald O. Summers heads and operates his own financial service agency, Gerald O. Summers, in West Chester, Ohio, and is director of the GoldenCare USA Financial Planning Division headquartered in Plymouth, Minn. He can be reached at geralds@goldencareusa.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 11. US Healthcare Quality Movement Stalls at a Critical Juncture, Finds PricewaterhouseCoopers Report PwC Calls for National Standards, Urges Industry to Lead Efforts WASHINGTON, Feb. 20 /PRNewswire/ -- In a study of more than 60 of the nation's most influential healthcare leaders released today, PricewaterhouseCoopers found that the quality of the US healthcare system is not what it should be and is not likely to change within the next three to five years. A landmark report on healthcare quality by the PricewaterhouseCoopers Health Research Institute concludes that after two decades of efforts to improve the quality of healthcare, momentum has stalled at a critical juncture. The analysis finds healthcare organizations are confused by multiple quality mandates and frustrated by mounting requirements for quality performance reporting in the absence of government standards or industry consensus. Citing its report, PricewaterhouseCoopers called on the healthcare industry to come together to develop common standards and procedures around quality. It warned that failure to act now puts the sustainability of the US healthcare system and the nation's economic competitiveness at risk. For its part, PricewaterhouseCoopers has announced five concrete steps it is taking to jumpstart progress in the quality movement: 1. PwC has just published a book, "The Quality Conundrum: Practical Approaches for Enhancing Patient Care," which provides a 360-degree view on the quality issue. The book, produced by PricewaterhouseCoopers' Health Research Institute, is a compilation of interviews and essays from health quality leaders and provides a path for improving the quality of care from the perspectives of patients, physicians, hospitals, insurers, employers, drug makers and policy leaders. "Quality Conundrum" is now available through the publisher, Cornerstone 1 Media. Additional information can be found at pwc.com/qualityconundrum. 2. Facilitate a market-level initiative that brings together commercial health insurance payers with hospitals and physicians in a single metropolitan city to reach consensus on quality measures and to track the impact of computerized physician order entry on quality improvements. 3. Foster cross-industry collaboration and dialogue by establishing an elite thought leadership and networking group of health industry leaders representing payers, providers, employers, consumer advocates, pharmaceutical companies and life sciences firms. This group, with support from PwC, has agreed to transcend historical boundaries and work together to create a sustainable healthcare system, and has committed to piloting quality initiatives. 4. PwC is researching the impact of investments in health information technology, including electronic medical records, designed to improve the quality of patient care. 5. Participate in the World Economic Forum's Working Towards Wellness Initiative, a world-wide effort to stimulate greater business engagement in the fight against chronic disease through employee wellness programs. As part of this, PricewaterhouseCoopers conducted a worldwide survey on Workplace Wellness in conjunction with the World www.pwc.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. Common Good and Robert Wood Johnson Foundation to Expand Initiative to Promote Health Courts NEW YORK, Feb. 20 /PRNewswire-USNewswire/ -- Common Good, the national nonpartisan legal reform coalition, has been awarded a two-year grant of nearly $1 million from the Robert Wood Johnson Foundation (RWJF) to promote the creation of special health courts to handle medical injury disputes in six states. The new project builds on a previous RWJF-funded project by Common Good and the Harvard School of Public Health (HSPH) to design a prototype for special health courts. Common Good champions health courts to restore reliability to medical justice. While many thousands of patients suffer preventable medical injuries each year, only a small fraction of them are compensated for their losses. Administrative costs in today's system are extremely high, and patients in similar circumstances often receive vastly different judicial outcomes. Health care experts often cite the current legal system as a major impediment to improving quality of care, since it effectively discourages physicians and hospitals from being candid about errors in treatment. www.rwjf.org www.cgood.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. High Net Worth Individuals Advisors Face New Growth Opportunities BETHESDA, Md., Feb. 21 /PRNewswire/ -- Maple Life Financial announces the release of "Life Settlements & HNWI's," a new report for wealth managers and other financial service advisors with high-net-worth clients. Included in the report are outlines of upcoming challenges High Net Worth Individuals (HNWI's) face, demonstrations of how life settlements can generate new revenue opportunities for advisors, an overview of the market and how it works, brief examples, and insights into how to get started. Highlights include: -- There are over 8.9 million HNWI's whose average age is 57. -- 85% of HNWI's own term or permanent life insurance. -- Advisors offering wealth-management-related products and services such as life settlements are well positioned and poised for tremendous growth. -- Because of the high growth outlook - $161 billion (gross life insurance face amount purchased), cross-market sales potential, and utilization of a firm's network of clients, many advisors are looking closely at the life settlement market. -- The life settlement market has changed significantly in a very short time. Increased regulatory scrutiny and attention from institutional investors is transforming the industry. Established, reputable, and rated institutionally owned and funded companies like Maple Life Financial provide sound business practices and transparent transactions. A complimentary copy of "Life Settlements & HNWI's" may be requested by phone toll-free at 1-877-777-0635 or by e-mail at moreinfo@maplelf.com. www.MapleLifeFinancial.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. Ground delays impact millions at U.S. airports yearly Tue Feb 20, 2007 7:07PM EST - By John Crawley - WASHINGTON (Reuters) - Millions of airline passengers are stuck in planes on the ground every year at U.S. airports with nearly 60,000 departures delayed between one and two hours in 2006, government figures show. Nearly 400,000, or 5.6 percent, of the 7.1 million commercial flights last year at U.S. airports experienced departure delays of 30 minutes to an hour after pulling away from the gate, according to Transportation Department statistics. Nearly 60,000 flights, or less than 1 percent of total departures, were held on taxiways for up to two hours. More than 1,000 planes experienced delays of at least three hours and 36 were stuck for more than five hours. The figures have remained constant for several years and cover the industry's economic boom of the late 1990s and this decade's worst-ever downturn. But financial and schedule pressures on airlines can make it more difficult to cope with weather or other problems, especially at congested airports, experts have said. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. Using Nanotechnology to Improve Health Care in Developing Countries WASHINGTON, Feb. 20 /PRNewswire-USNewswire/ -- What if doctors in Kenya could equip cells of the retina with photoswitches that can be flipped on, essentially making blind nerve cells see and restoring light sensitivity in people with degenerative blindness? What if public health workers in Bangladesh could place contaminated water into transparent bottles, which when placed in direct sunlight could disinfect the water and help prevent water- borne diseases like cholera, dysentery or polio? What is nanotechnology? How is nanotechnology expected to transform medicine and health care in the future? How can nanomedicine help the truly needy in developing countries? And what are the challenges of ensuring that nanotechnology meets the specific health needs of Third World peoples? These questions are the focus of an event and live webcast on Tuesday, February 27th at 12:00 p.m. in the 5th Floor Conference Room of the Woodrow Wilson International Center for Scholars (http://www.wilsoncenter.org/directions). Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. New Cato Institute Book Explains Why We're Living Longer, Healthier, More Comfortable Lives on a Cleaner Planet WASHINGTON, Feb. 20 /PRNewswire-USNewswire/ -- After a few minutes of viewing the evening news, it might be very difficult to believe that anything is getting better. Indur M. Goklany is anything but pessimistic in his enormously compelling new book, "The Improving State of the World: Why We're Living Longer, Healthier, More Comfortable Lives On A Cleaner Planet." Many people believe that globalization and its key components -- economic growth, technological change and free trade -- have made matters worse for humanity and the environment. As Goklany powerfully illustrates, that is a complete myth and we ought to consider how much worse the world would be like without these components. Goklany confronts foes of globalization and demonstrates that economic growth, technological change and free trade helped power a "cycle of progress" that in the last two centuries enabled unprecedented improvements in every objective measurement of human well-being. Poverty, hunger, malnutrition, child labor, illiteracy and unsafe water ceased to be global norms; infant mortality has never been lower; and we live longer and healthier lives. Further, Goklany's research demonstrates that global agricultural productivity is up, food prices are down, hunger and malnutrition have dropped worldwide, public health has improved, mortality rates are down, and life expectancies are up. "The Improving State of the World" is an important contribution to the environment versus development debate, collecting in one volume the long-term trends in a broad array of the most significant indicators of human and environmental well-being, and their dependence on economic development and technological change. Noting that the environmental record is more complex, the author shows how innovation, increased affluence and key institutions have combined to address environmental degradation. The early stages of development can indeed cause environmental problems, Goklany acknowledges, but additional development creates greater wealth allowing societies to create and afford cleaner technologies. He maintains that restricting globalization would therefore hamper further progress in improving human and environmental well-being, and in surmounting future environmental or natural resource limits to growth. Cato Institute: http://www.cato.org/ Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. A New Guide to Choosing the Right Vitamin Supplement: Report From Harvard Medical School Separates the Essentials From the Gimmicks BOSTON, Feb. 20 /PRNewswire-USNewswire/ -- How do you choose a safe and healthy multivitamin? "Vitamins and Minerals: What You Need to Know," a new report from Harvard Medical School, offers the following advice. -- Look for a seal of approval. Choose products that bear the U.S. Pharmacopeia Dietary Supplement Verification Program (USP-DSVP) mark, which indicates that the manufacturer has complied with certain standards. -- Consider safe levels. All dietary supplements have a "Supplement Facts" label that lists the percentage of the daily value (DV) of each nutrient per serving, as well as the actual amount of each. Multivitamin and multimineral supplements shouldn't exceed 150% of the DV for any nutrient. In fact, for trace minerals, such as iron, fluoride, and zinc, it's safest not to exceed the DV at all. -- Ignore marketing gimmicks. It doesn't matter whether vitamin C is derived from organic rose hips or synthesized in large batches in a laboratory; your body will use the resulting product similarly. Also, if you're not sensitive to specific ingredients, such as wheat, rice, or lactose, there's no need to pay more for allergen-free products. -- Don't pay more for unproven extras. There is virtually no evidence that herbs and other nonvitamin ingredients added to supplements -- such as echinacea, bioflavonoids, and ubiquinone (coenzyme Q10) – are essential for your health. -- Beware of potentially dangerous interactions. Pay attention to warnings on the label, and tell your doctor and pharmacist what supplements you take. "Vitamins and Minerals: What you Need to Know" is a 48-page report edited by Meier J. Stampfer, M.D., Ph.D., Professor of Epidemiology and Nutrition, Harvard School of Public Health. -- how to create a healthy and balanced diet. "Vitamins and Minerals: What You Need to Know" is available for $16 from Harvard Health Publications, the publishing division of Harvard Medical School. Order it online at http://www.health.harvard.edu/VM or by calling 1- 877-649-9457. SOURCE Harvard Health Publications Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. The Standard Rolls Out New Web-based Data Review Tool for Plan Sponsors PORTLAND, Ore., Feb. 21 /PRNewswire/ -- Standard Retirement Services ("The Standard"), a subsidiary of StanCorp Financial Group, Inc. (NYSE: SFG), has launched Compliance Data Review (CDR), a new Web-based service designed to help employers quickly and securely prepare plan data for annual reporting and compliance testing. CDR provides an efficient and secure online environment to view a summary of the plan information submitted throughout the plan year. When users add or update information, the service automatically flags potential errors, such as missing or invalid data. Employers can verify and make corrections to the data instantly online. The end result is a more efficient compliance testing and government filing process for plan sponsors. www.standard.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Bear Stearns Structured Equity Products Launches Its Newest Innovative Strategy for Europe—ISIS LONDON--(BUSINESS WIRE)--Bear Stearns has launched its newest structured equity product— ISIS, a dynamic Inter-Sector Investment Strategy designed to outperform the Euro Zone equity markets. ISIS is based on a rotation strategy comprised of three main sectors: Banks & Insurance, Telecom & Technology, Healthcare & Chemicals. ISIS actively rebalances between these sectors on a monthly basis to optimise returns and is benchmarked against the Dow Jones Euro STOXX 50® Index, Europe’s leading Blue-chip index for the Euro Zone. "ISIS is the latest in a line of proprietary structured products aimed at providing investors with alpha generating strategies that historically outperform traditional stock market indices," said Leonardo Giangreco, Co-Head of Global Equity Sales. "Through these innovative strategies, we’ve demonstrated our ability to create a new generation of structured solutions to help investors meet investment goals.” www.bearstearns.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. Private Wealth Management Group Joins Financial Network Wednesday February 21, 9:30 am ET Group focuses on financial services for affluent families and people in the music and entertainment industries NEW YORK, Feb. 21 /PRNewswire/ -- Private Wealth Management Group and its principal, Hemant P. Singh, have chosen Financial Network Investment Corporation (Financial Network) as its new broker-dealer. Based in El Segundo, California, Financial Network is part of the broker-dealers of ING. Private Wealth Management, with offices at Park Place in New York City, focuses on a "family office-style" practice of financial planning for affluent clients, particularly individuals in the music and entertainment industries. According to Singh, Financial Network offers a number of resources that can benefit his clients. "The technology, product breadth, research functions, and other services offered through Financial Network will help me serve my clients better. My clients also like the fact that I now have a global financial services company like ING in my corner," said Singh. www.financialnetwork.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. Allstate Announces Corporate Governance Improvements NORTHBROOK, Ill.--(BUSINESS WIRE)--The Allstate Corporation board of directors today announced two improvements to its corporate governance practices. At a meeting held at the company’s headquarters, the board approved changes to the company’s bylaws to formally adopt a majority vote standard in the election of directors, which means that each nominee for director must receive a majority of the votes cast at any meeting held for the election of directors. Election by a majority of votes cast means that the number of shares voted “for” a director’s election exceeds 50 percent of the number of votes cast in favor of that director’s election. Last year, the board had adopted a Majority Votes in Director Elections Policy, which called for any director nominee who received a greater number of votes “withheld” from his or her election than votes “for” his or her election to tender a resignation, which the board would then accept or reject. When the policy was adopted last year, there were outstanding and unresolved Delaware corporate law issues that have since been resolved by legislative changes to the state’s law The bylaw amendments approved by the board today formally adopt the majority vote standard in the election of directors into the company’s governing documents. Secondly, the board will recommend in its upcoming 2007 proxy statement that stockholders approve amendments to the company’s certificate of incorporation. The amendments to the certificate of incorporation would eliminate the two supermajority vote provisions contained in the current certificate of incorporation. Currently, one provision requires a two-thirds affirmative vote to amend the bylaws. The other supermajority provision requires a two-thirds affirmative vote to remove a director prior to the next annual meeting and is a provision that can only be changed by a two-thirds affirmative vote. www.allstate.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Principal Financial Group Introduces Cancer Care Program Principal HealthyConnections extends outreach to members DES MOINES, Iowa--(BUSINESS WIRE)--The Principal Financial Group® health plan members now have a new partner in their fight against cancer, the Principal Cancer Care Program. The oncology program is the latest addition to Principal HealthyConnections, a comprehensive care program focused on personalized support for health plan members. Through the Principal Cancer Care Program, members are paired with nurses who provide a better understanding of the cancer diagnosis, plan benefits and treatment options. For more information on Principal HealthyConnections, visit www.principal.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Survey by Adveq and Kyoto University Shows Investment Allocation to Private Equity Increasing at Japanese Institutional Investors TOKYO--(BUSINESS WIRE)--Investment allocation to private equity by Japanese companies is expected to rise over the next two to five years, according to a study completed by Adveq, the Swiss private equity fund of funds manager, together with Kyoto University. The survey, Adveq’s first full-market survey on the attitudes of Japanese institutional investors towards private equity, revealed that 25.2% of Japanese institutions are already investing in private equity; the majority of these only began doing so after 2000. The study also reveals that Japanese investors’ allocation to private equity, by percentage of assets under management, will triple in the next two to five years. www.adveq.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. Royal & SunAlliance notes the Delaware Insurance Commissioner’s decision on disposal of US Operation LONDON--(BUSINESS WIRE)-- Royal & Sun Alliance Insurance Group plc (R&SA) notes the Delaware Insurance Commissioner’s conditional approval of the disposal of R&SA’s US operation to Arrowpoint Capital Corp. This approval is subject to a number of conditions that affect both R&SA and Arrowpoint Capital, which require further consideration and may have a bearing on the completion of the transaction. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. Greater Bay Bancorp Announces Proposed Trust Preferred Securities Offering and Redemption of Series B Preferred Stock Wednesday February 21, 6:30 am ET EAST PALO ALTO, Calif.--(BUSINESS WIRE)--Greater Bay Bancorp (Nasdaq:GBBK - News), a $7.4 billion in assets financial services holding company, announced that it intends to file a registration statement with the Securities and Exchange Commission relating to the public offering of trust preferred securities, with an aggregate principal amount of $100 million. The offering will be made through a newly formed Greater Bay Bancorp wholly owned subsidiary, GBB Capital IX, which will use the proceeds of the offering to purchase Junior Subordinated Deferrable Interest Debentures of Greater Bay Bancorp. Greater Bay Bancorp intends to use the anticipated proceeds from the offering to redeem its $103 million in outstanding Series B Preferred Stock. www.gbbk.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. Financial Network Opens Up Offices in New York City NEW YORK, Feb. 21 /PRNewswire/ -- A region of Financial Network Investment Corporation, a broker-dealer of ING, has opened up new offices in New York City. In December, the region, which operates as Karoon Capital Markets/Financial Network, opened at 11 Park Place in the Financial Services District. In March, the group will open up an office in Midtown Manhattan, across from Grand Central Station. www.financialnetwork.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. Blue Cross and Blue Shield of Illinois Announces e-Prescribing Collaborative Program to Improve Patient Safety Innovative program is the first of its kind in the country CHICAGO, Feb. 21 /PRNewswire/ -- In an effort to make prescription medications safer and to improve the quality of care in Illinois, Blue Cross and Blue Shield of Illinois announced today the implementation of a statewide, collaborative program that will unite the health care industry and expand e-prescribing throughout Illinois. The Illinois e-Prescribing Collaborative is the first of its kind in the nation, as insurers, technology vendors, pharmacies, employer groups, physicians and other organizations involved in the prescription process are working together to increase the use of e-prescribing. The organizations involved in this ground-breaking collaborative are the health plans and pharmacies in Illinois, Midwest Business Group on Health, Chicago Patient Safety Forum, Illinois Academy of Family Physicians, Illinois chapter American Academy of Pediatrics, Illinois Foundation for Quality Healthcare, Illinois State Medical Society, Midwest Business Group on Health, Illinois Healthcare and Family Services, Illinois Hospital Association, Jewish Federation of Metropolitan Chicago. www.drfirst.com www.zixcorp.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article COLUMBUS, Ga., Feb. 20 /PRNewswire/ -- Contrary to recent media reports, Aflac has no intention of abandoning its use of the Aflac Duck. "Like all of America, we love the Aflac Duck," said Jeff Herbert, Aflac's Chief Marketing Officer. "It is as central to our marketing efforts today as it will continue to be going forward." Since its introduction, the Aflac Duck has helped the company achieve 90 percent brand awareness. www.aflac.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 30. Corporate Insight Finds Wide Disparity in 529 Plan Content on Mutual Funds’ Websites New York, NY – February 20, 2007 –Despite the popularity of state sponsored 529 plans, recent research from Corporate Insight found a wide disparity in the way Mutual Fund firms display 529 plan information on their websites. In a new report entitled, “Online 529 Plan Content” content from 13 firms was examined using the following criteria: Accessibility, Educational Material, Product Details, and Availability of Calculators and Tools. Overall, all 13 firms scored high marks in most areas with two exceptions. The Mutual Fund Monitor report entitled, “Online 529 Plan Content” contains an in-depth look at 13 mutual fund firms’ 529 contents, with detailed findings on each of the firms, recommendations to the industry, and Corporate Insights’ unique perspective. For more information on this research and related services, please visit: www.corporateinsight.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 31. Over 90% of Organizations Today Offer Employees Tuition Assistance Continuing education seen as a valuable tool in employee engagement, loyalty and retention. ST. PETERSBURG, FL (February 20, 2007) – The vast majority of recently polled companies (94.1%) offer a tuition assistance program to their employees; and they generally cover associated fees, such as books, labs, tests and administrative costs. In addition, roughly half (54.5%) do not require tuition fees to be refunded if an employee leaves after completing a course. For more information about this study, or to receive a full copy of the results, please contact Greg Pernula at (727) 345-2226. www.i4cp.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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