Daily Quote: “A public opinion poll is no substitute for thought." - - Warren Buffet  
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And now, to add to your happy life, meet our new star, Secure Life! Secure Life is a solid, voluntary life policy that we say is “here today and there tomorrow” because it’s permanently owned by the employee – and unlike a lot of benefits these days, it will stay with them past retirement. And before retirement, it can be added to with term life to cover employees’ peak expense years [Term to 65 Rider*]. It’s that versatile! You want the comfort of selling a meat-and-potatoes life policy that’s appetizing to everybody? That’s what Secure Life is here for, with tasty goodies like:
*Additional Premiums Apply You owe it to yourself and your business to find out how Secure Life and other fine Kanawha Insurance Company** products can substantially increase your earning potential and keep your clients singing your praises at the same time. Life can be beautiful, with KMG America! For more information, please contact Sylvia Knight, call (800) 635-4252, ext. 5956, or visit our website at www.kmgamerica.com. **Kanawha Insurance Company is a wholly-owned subsidiary of KMG America Corporation. Secure Life is Kanawha Insurance Company Policy Form 00455. The policy and any optional benefits/riders contain limitations and exclusions. Optional benefits/riders and features are not available in all states and may vary by state. Manulife launches class action vs Societe Generale TORONTO, March 8 (Reuters) - The mutual fund unit of Manulife Financial (MFC.TO: Quote, Profile, Research) said on Thursday it will proceed with a proposed class action against French bank Societe Generale (SOGN.PA: Quote, Profile, Research), seeking at least C$1.6 billion ($1.36 billion) for its alleged role in a failed Canadian hedge fund. But Montreal-based unit Societe Generale (Canada) fired back, calling the Canadian insurance company's allegations without merit and saying that "it will vigorously defend itself against these unfounded claims." Manulife Securities International Ltd. said it will go ahead with the proposed suit on behalf of investors against Societe Generale and affiliates Lyxor Asset Management, Societe Generale (Canada) and Societe Generale Securities Inc. over the collapse of Portus Alternative Asset Management Inc., which went bankrupt in 2005 after regulators started investigating Portus's business. In a statement of claim filed last July, Toronto-based Manulife said the action seeks damages of C$1.6 billion for negligence, breach of trust and breach of fiduciary duty, or for facilitating those breaches. It also seeks C$30 million in punitive damages. Jean-Paul Bisnaire, Manulife Financial's general counsel, said the company had hoped to resolve the matter with Societe Generale, "but this has proven not to be the case." In the court filing, Manulife Securities said it was the largest investor caught up in the collapse of Portus, with an aggregate investment of about C$246 million. Portus raised roughly C$800 million from investors. Manulife claims that, in 2003, Portus and the Societe Generale affiliates came up with an idea to allow retail investors to participate in hedge-fund strategies on a principal-protected basis, through trust structures created by Portus that would acquire deposit notes issued by Societe Generale Canada. Portus misappropriated "a significant portion" of investors' capital, Manulife states. Societe Generale failed to make adequate inquiries or do adequate due diligence on Portus before accepting investor deposits through the trusts, Manulife claims. It also says Societe Generale failed to respond to "adverse changes" at Portus, including the departure of key management and inquiries from regulators. But in a press release, Societe Generale Canada said Manulife incorrectly describes its role with Portus, and the nature of the financial instruments it sold. "Portus purchased principal-protected deposit notes from Societe Generale as part of the investment program of its trusts," the bank said. But Societe Generale did not sell investments to Portus investors, refer customers to Portus, or make recommendations to Portus investors, it added. "Societe Generale stands behind its products and guarantees payment of the principal amount of these deposit notes, which remain fully intact and which are in the hands of KPMG as trustee-in-bankruptcy and receiver for Portus," it added. In 2005, Manulife repaid its own clients who had invested in Portus on the advice of Manulife financial advisers. That resulted in a C$40 million charge to the insurer's earnings in early 2005. The proposed suit, which has to be certified as a class action by an Ontario court, would be open to thousands of investors in Portus, not just those who invested through Manulife. ($1=$1.18 Canadian) ((Reporting by Lynne Olver; editing by Rob Wilson; Reuters (C) Reuters 2007. All rights reserved. 1. Guy Carpenter Publishes Enterprise Risk Analysis for Property & Liability Insurance Companies Definitive Guide to ERM Provides Strategies, Tools and Best Practices For Enterprise Risk Modeling and Management NEW YORK--(BUSINESS WIRE)--Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and part of the Marsh & McLennan Companies (NYSE: MMC), today announced that it has published Enterprise Risk Analysis for Property & Liability Insurance Companies, a comprehensive, practical enterprise risk management (ERM) guide. The book equips insurance executives, risk managers, actuaries, academics and others with the latest strategies and applications in ERM, from the field’s leading specialists and practitioners. “With rating agencies, regulators, parent companies and even investors beginning to require that insurers institute stricter ERM best practices, executives are being pressured to understand and manage risk as never before,” said Don Mango, Managing Director at Guy Carpenter. “Because insurers also assume their clients’ risks, assessing and managing their enterprise-wide risk has become much more complex and challenging. This book provides a single, essential reference on this increasingly important and rapidly evolving topic.” Building on Guy Carpenter’s strength in insurance hazard modeling for risk management, Enterprise Risk Analysis brings together perspectives from a leading group of the firm’s ERM experts, including Paul Brehm, Spencer Gluck, Rodney Kreps, John A. Major, Don Mango, Richard Shaw, Gary Venter, Steve White, and Susan Witcraft. In addition to addressing ERM theory, the book focuses on hands-on, practical implementation issues, including models and management frameworks, insurance hazard risks, financial risk models, operational risk and strategic risk. The book covers both traditional ERM topics like loss distribution modeling and loss reserve models and emerging solutions such as timeline simulation, new copulas for the identification of dependence between variables, linking risk management and capital optimization, frameworks for modeling the insurance pricing cycle, models for reinsurance receivables risk and a wide selection of risk measures. “Although ERM is increasingly being recognized by insurance executives as a good idea, implementation is a complex task. This text is a must-read for those who want to better understand and apply practical ERM principles to their organizations,” added Mr. Mango. “By providing insight on ERM, based on years of research, this book can help companies better and more systematically address this critical issue and add value to their organizations.” More information on Enterprise Risk Analysis for Property & Liability Insurance Companies and the book’s authors can be found at http://ermbook.guycarp.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Blue Cross and Blue Shield Association Releases 2007 Medical Cost Reference Guide New edition is searchable online, features healthcare trends CHICAGO, March 7 /PRNewswire-USNewswire/ -- The Blue Cross and Blue Shield Association (BCBSA) today announced the release of the 2007 Medical Cost Reference Guide (MCRG). Now in its fifth publication, the guide is one of the most comprehensive collections of data available from government, academic, and business sources, as well as from BCBSA. The guide is searchable online at http://www.bcbs.com/betterknowledge/mcrg/. For a hard copy of the guide, please e-mail: Resources@bcbsa.com. Covering topics such as health spending, utilization, chronic disease and obesity, as well as trends in hospitals and among physicians, consumers, and the uninsured, the 2007 MCRG provides a valuable resource for researchers, policymakers, and the media. New data trends in this year's guide include: -- Healthcare expenditures in the U.S. represent a greater percentage of Gross Domestic Product than in any other country. At 2.2 trillion, or 16.5 percent of Gross Domestic Product, the 2006 U.S. National Health Expenditures dwarf other major sectors of the economy -- and they are projected to represent as much as 20 percent of Gross Domestic Product by 2015. -- The government -- primarily through public programs such as Medicare and Medicaid -- continues to be the largest payer for healthcare, bearing almost half of the total costs. Private health insurance accounts for a little more than one-third of the total. -- The majority of the U.S. population, 68.6 percent, is covered by private health insurance. Of the U.S. population, 59.5 percent are covered by employer-based private insurance and 9.1 percent are covered by direct-purchase private insurance. -- The U.S. healthcare system continues its transformation to focus more on the wants and needs of consumers and consumers are responding. For example, eight in ten Internet users go online for health information. More than half of consumers who use the Internet have utilized features from their health insurer's online Web site. "One of the major aims of our 2007 Medical Cost Reference Guide is to encourage more effective use of the vast amount of information in our healthcare system," said Scott P. Serota, president and CEO, BCBSA. "The guide serves as an important source of knowledge that can drive effective solutions and help us attain a system that is driven by better knowledge." BCBSA will host a Web conference on March 22 at 2:30 p.m. EDT to review highlights, online capabilities, and other attributions of the new MCRG. For information about the Web conference, contact Matt Levin at 312.297.5917 or matt.levin@bcbsa.com. www.BCBS.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article Although last year was a relatively quiet one for major catastrophes, no one is falling asleep at the switch. Too many factors indicate we live in volatile times and the next big one could be just around the corner. Swiss Re is pleased to offer its latest sigma report, focusing on natural catastrophes. In it you'll find everything from a discussion of the low frequency year to the innovative ways hurricane and earthquake risk are being spread. I think you'll find that "sigma" is the most authoritative and comprehensive source in the industry. Take a look and let us know if you have any questions. (See file / report at http://www.insurancebroadcasting.com/sigma2_2007_e.pdf) John Novaria | Senior Communications Specialist Swiss Re America Holding Corporation | 5200 Metcalf Avenue, Overland Park KS 66201, USA Direct: 913 676 5956 Fax: 913 676 5078 Mobile: 913 515 2483 E-mail: John_Novaria@swissre.com http://www.swissre.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. Shift Toward Public Ownership In The Financial Guaranty Industry Continues, Says Report NEW YORK Feb. 14, 2007—Standard & Poor's Ratings Services said it is seeing a greater shift toward more public ownership among financial guaranty insurance industry holding companies as some investor circumstances have changed, some newer companies have matured, and financial investors implement their exit strategies. In a report released today titled "Public Ownership In The Financial Guaranty Insurance Industry Is Increasing," Standard & Poor's said that it feels this trend toward more public ownership will continue. In 2006, three financial guaranty insurance holding companies added a public equity component to their ownership structure, while one increased its public ownership component. www.ratingsdirect.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. U.S. Insurer Failures Continue To Fall In 2006, Report Says NEW YORK Feb. 14, 2007-Standard & Poor's Ratings Services has published its U.S. Insurer Failures article for 2006, which states that the number companies placed under regulatory supervision fell to 11, reaching low levels not seen in the past decade. The article, titled "U.S. Insurer Failures Maintain Downward Trend In 2006," says several factors contributed to the decline in failures. The property/casualty (P/C) sector has prospered with improved earnings leading to stronger balance sheets, lower levels of net loss reserve deficiencies, and continued focus on enterprise risk management (ERM) enhancements. Hurricane insured-losses were more benign than anticipated and sharply lower than in 2005, where unusually strong hurricanes such as Katrina, Rita, and Wilma, generated total property/catastrophic losses estimated near $56.8 billion (based on figures from the insurance services office; ISO). Standard & Poor's will continue to monitor underwriting discipline and capitalization levels within the P/C sector. www.ratingsdirect.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 6. SEC struggling with options penalties – WSJ NEW YORK, March 8 (Reuters) - The U.S. Securities and Exchange Commission is struggling to answer how much companies and their shareholders were hurt when executives' stock options were backdated, The Wall Street Journal reported. SEC Chairman Christopher Cox and his four fellow commissioners are wrestling with the issue as they try to figure out whether and how harshly to penalize companies where backdating occurred, the Journal said. The Journal said the behind-the-scenes struggle has delayed a formal commission vote on a proposed $7 million settlement the agency's staff reached with Brocade Communications Systems Inc. (BRCD.O: ) a year ago in one of the first cases dealing solely with backdating. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. State Regulators “On The Ground” Helping Consumers NAIC President Highlights Daily Consumer Protection at Insurance Reform Summit WASHINGTON, D.C. (March 7, 2007) — National Association of Insurance Commissioners (NAIC) President and Alabama Insurance Commissioner Walter Bell today told an insurance reform summit that state insurance officials are on the ground protecting consumers every day, and efforts to modernize insurance regulation must “enhance rather than supplant” effective state consumer protections. “For insurance commissioners, protecting consumers is not merely a hundred–thousand–foot policy discussion,” Bell said. “It is our jobs. It is our responsibility. It is what we do every day.” Bell’s statements came during the Networks Financial Institute’s 4th Annual Insurance Reform Summit at the Ronald Reagan Building and International Trade Center in Washington, D.C. Bell recounted last week’s horrible loss of life and property in Enterprise, Ala. stemming from a tornado that struck the Gulf Coast. He said state insurance regulators were on the ground the day of the incident to assess damage and make preparations. Since then, Bell said they’ve continued to work with consumer specialists to assist citizens with deciphering their coverage and making claims. Although the national spotlight may move on to other matters, Bell said smaller events receive hands–on attention and importance at the state level. “Enterprise is the number one priority of the Alabama Department of Insurance,” he said. “For a federal regulator, I would have my doubts.” As it is with the protection of consumers, Bell said insurance commissioners don’t merely discuss making insurance regulation more efficient and effective. Instead, they are “engaged in an ongoing, dynamic process to retool and enhance state supervision to better meet the needs of the evolving financial marketplace.” Bell urged Congress to reject the efforts of some within the industry to federalize insurance regulation and preempt state insurance protections and oversight. “Real insurance regulatory modernization must build on the success of the state system to continuously improve what we already do well,” he said. “Operational efficiencies must enhance rather than supplant consumer protection, and insurance companies must work with policymakers and consumers to find new ground rather than defend old turf.” In closing, Bell outlined several important issues on which insurance commissioners are committed to working with Congress, including terrorism risk insurance, a natural catastrophe plan, flood insurance reform, the McCarran–Ferguson antitrust exemption, data security and surplus lines reform. www.naic.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. NAIC Testifies Before Senate Committee On Mccarran–Ferguson Exemption Commissioner Susan Voss Presents to Senate Judiciary Committee WASHINGTON, D.C. (March 7, 2007) — Speaking on behalf of the National Association of Insurance Commissioners (NAIC), Iowa Insurance Commissioner Susan Voss testified today before the Senate Judiciary Committee on consumer protection and the McCarran–Ferguson exemption. During her testimony, Voss delivered the message that the NAIC supports the intent of Congress to protect consumers by enabling federal investigation and prosecution of bad actors that use the McCarran–Ferguson Act’s limited exemption for insurance as a shield from federal antitrust law. “State experience with the business of insurance is long–standing,” Voss said. “Existing state consumer protection, antitrust and unfair trade practice laws provide necessary tools to help stop anti–competitive conduct. Any federal legislation should include provisions that authorize federal–state collaboration to identify, investigate and prosecute bad actors who engage in anti–competitive practices in the business of insurance. We believe this issue invites cooperative federalism to protect consumers.” The Senate Judiciary hearing explored the possible implications of a repeal of the limited federal antitrust exemption for insurance. The repeal is called for under S. 618, the Insurance Industry Competition Act of 2007, sponsored by Senate Judiciary Chair Patrick Leahy (D–VT), Ranking Member Arlen Specter (R–PA), Majority Leader Harry Reid (D–NV), Minority Whip Trent Lott (R–MS), and Sen. Mary Landrieu (D–LA). Voss added that identifying the bad acts that Congress is trying to reach should be the first step in the consideration of the proposed repeal, followed by a review of the existing state and federal tools available to combat those acts. www.naic.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. Smaller hedge funds may fade away when markets turn Thu Mar 8, 2007 8:50AM EST - By Elena Moya - LONDON (Reuters) - Dozens of small hedge funds that have proliferated in London over the past four years are in danger of disappearing because of falling returns, growing competition and a possible change in the economic cycle. Though more than 450 hedge funds are now based in London, which has become the industry's hot spot surpassing New York, bankers, lawyers and accountants are already seeing the start of another wave of change. "As expected with a rapidly growing market, the hedge fund industry is likely to face a period of consolidation," said Julian Young, a director at the hedge fund unit of accountancy firm Ernst & Young (E&Y). Often run by young former bankers working from London's upmarket Mayfair neighborhood, some hedge funds have made fortunes investing on the right side of the surging commodities market or placing the right bets on pending M&A deals. But it could all end in tears. "The days of hedge fund managers gambling with someone else's money, losing it and being allowed to do it all over again by investors who invest in his new fund seem to be ending, which is good, as that's not how rational markets should work," said one senior banker. "The bigger funds will continue to grow and attract more and more assets, but there is likely to be a consolidation at the tail end of the industry with smaller players being snapped up or returning assets," said E&Y's Young. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. 7 different Web Conferences with Bill Harris and 7 presidents. On March 13 and 14th, W.V.H., Inc. will have 7 different 30 minute web conferences that could change how other web conferences in the industry are measured. During the first 15 minutes of each web conference, a President of an insurance company or the President of leading marketing organization will share how their company can help financial professionals build their business. During the remaining 15 minutes, Bill Harris, President of W.V.H., Inc. will unveil different proven sales ideas at each conference. Each web conference is FREE including a toll free number. Everyone gets access to a multi-media web site so they can easily follow along with the presenters during the web conference. Plus, financial professionals will be able watch 1 hot sales idea on video for 5 minutes following each web conference. Many of the web conferences will offer rewards and incentives for those who become appointed. The Prospecting & Lifetime Income web conferences will give a gift to ALL who attend. "Plus, we will have fun since each web conference will have one $199 prize", promises Bill Harris, President of W.V.H., Inc. Each web conference covers a different topic: Fixed Indexed Annuities, Prospecting, Traditional Annuities, Lifetime Income, Client Seminars, Long Term Care Insurance and Life Insurance. "In 30 minutes, financial professionals can learn ideas that took others a career to learn." reports Elizabeth Harris Scolnick. To register or to get more information about each web conference, click here http://www.joinusnow.tv/register/?ID=IBC. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 11. California Healthcare Institute Launches Final Podcast Episode on Dangers of a Cost-based U.S. Healthcare System Podcast Urges Lawmakers to Choose Care over Cost in Healthcare Proposals LA JOLLA, Calif., March 7 /PRNewswire-USNewswire/ -- The California Healthcare Institute (CHI) today launched the final episode of the podcast series, Cost Over Care: The Dangers of Bureaucratic Medicine. As state and federal legislators design their healthcare proposals, this podcast aims to educate policymakers about the dangers of cost-based healthcare initiatives. The five-part podcast series can be found on the California Healthcare Institute Web site, http://www.chi.org, and is accessible on iTunes and other podcast directories. In the fifth and final episode, Dr. David Gollaher, president and CEO of CHI, urges state and federal policymakers to factor in individual patient differences, physician decision-making, and the need to provide incentives for future medical innovation into their healthcare proposals. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. 2007's LONG-TERM CARE AWARENESS WEEK TO FOCUS ON BABY BOOMERS First Week In November Dedicated To Creating Awareness Of Risk and Available Solutions For Pre-Retirement Consumers The American Association for Long-Term Care Insurance (AALTCI), the national trade organization serving insurance and financial professionals who market long-term care financial solutions, has established November 4 – 10, 2007 as Long-Term Care Awareness Week. “Awareness Week has become the industry's focal point and the single greatest opportunity to create awareness," explains Jesse Slome, the Association's executive director. "This year the focus of our awareness efforts will be educating the millions of baby boomers who are approaching retirement.” www.aaltci.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. Historic Work Comp Reform First Step to Improving State Economy, Says Independent Insurance Agents, Brokers of NY For years, the 125-year-old trade association has fought for a system with lower business costs and higher weekly benefits (DeWitt, New York, March 7, 2007) — With lightning speed, a unified New York State Legislature passed a workers’ compensation bill to reform a system that has weighed heavily on business, offered little compensation to injured workers and contributed to jobs leaving the Empire State. “This is a remarkable win-win situation for both workers and employers,” said Gov. Eliot Spitzer during last week’s announcement of the reform agreement between his office and key legislators.www.iiabny.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. Anticipating Growth in Shipping, Chubb Unveils New Online Portal and Insurance Policy WARREN, N.J., March 7 /PRNewswire/ -- Businesses of all sizes are now looking overseas to buy and sell products. To help its commercial customers manage the shipment of goods around the world, the Chubb Group of Insurance Companies has released a new ocean cargo policy and launched CargoPort, an online system that enables businesses to view their policies, submit claims and monitor shipping activities. "Today, U.S. international trade approaches $2 trillion, and the U.S. Chamber of Commerce predicts that figure will double by 2020," said Terry D. Montgomery, vice president at Chubb & Son and ocean marine manager at Chubb Commercial Insurance. "That's why we created a new ocean cargo policy and online portal to help businesses manage their cargo shipments around the clock and around the world." www.chubb.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. GlobalOptions Group Executive James Lee Witt to Testify at House Small Business Committee in Washington Today NEW YORK--(BUSINESS WIRE)--GlobalOptions Group, Inc. (OTCBB: GOPG), a leading provider of domestic and international risk management services, today announced that James Lee Witt, Former Director of the Federal Emergency Management Agency (FEMA) and CEO and Chairman of GlobalOptions’ James Lee Witt Associates unit, a public safety and crisis management consulting firm, will testify at a hearing of the House Small Business Committee on behalf of the Small Business Administration in Washington on Thursday, March 8, 2007. Draft testimony is available at www.wittassociates.com. The Hearing on Disaster Relief and Access to Capital Legislation will focus on the SBA’s disaster readiness and planning processes as well as a proposed bill regarding the SBA Disaster Assistance Program, which is chaired by Congressman Nydia M. Velázquez. www.globaloptionsgroup.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. HSB’s New Tax Interruption Coverage Helps Towns Collect Revenue Lost Due to Property Damage Hartford Steam Boiler Program Protects Significant Portion Of Local Tax Base. HARTFORD, Conn.--(BUSINESS WIRE)--Towns, school districts and other municipalities can recover tax revenue lost when a fire or other insured accident destroys residential or commercial property with new coverage from The Hartford Steam Boiler Inspection and Insurance Company (HSB), the specialty carrier announced today. HSB’s Tax Interruption coverage responds to the serious financial losses that a taxing entity may suffer when payments for real estate or property taxes, occupancy taxes, excise taxes, or similar revenue sources (excluding income tax, fees and charges) that are a significant portion of the local tax base can’t be collected because of physical property damage. “Our coverage is designed for the smaller towns, counties, or school districts that can least afford to lose a sizable taxpayer,” said David Schraeder, HSB senior vice president for alternative markets. "By automatically including the coverage as part of the insurance package, we’re able to make it both affordable and easy to administer.” www.hsb.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. Flexpoint Partners Announces Acquisition of Norwich Group, Inc. and Its Affiliated Companies CHICAGO, March 7 /PRNewswire/ -- Flexpoint Partners, LLC announced today that it has acquired a majority interest in Rosemont, PA-based Norwich Group, Inc. and its affiliated companies via a newly formed holding company. Norwich is a specialist in the development, implementation and administration of commercial insurance products targeted to narrowly-defined industry segments. In connection with the acquisition, Flexpoint will provide capital to Norwich to support the company's plan to increase its underwriting participation in the insurance programs it manages. The company's co-founders, Kirby Hill and William McPherson, will continue to serve as Chief Executive Officer and President, respectively, and will maintain minority equity ownership in the company. Norwich was established in 1996, initially to provide comprehensive consulting services to program managers in the specialty insurance market, an approximately $10 billion industry. Norwich advises program managers on underwriting structures, risk management models, claims audits and underwriting audits. While the company has historically generated predominantly fee-based consulting income for its services, Flexpoint's investment will provide the equity capital required for Norwich to increase its risk sharing capacity for its client's programs. Norwich participates in underwriting risk via its wholly-owned Bermuda-based reinsurance company. www.norwichgroup.com www.flexpointpartners.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. Castle, Petersen & Krause, LLP Announces That a Notice of Collective Action Was Mailed Today to over Ten Thousand Police Officers Eligible to Join an FLSA Overtime Lawsuit Filed against the City of Los Angeles LAPD Officers Have 90 Days to Join the Overtime Lawsuit against the City NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Castle, Petersen & Krause, LLP announced that Notices of Collective Action and Consent to Join Forms were mailed today to 10,670 Los Angeles Police Officers, including, but not limited to Lieutenants, Sergeants, Detectives and Patrol Officers (“Officers”) who are eligible to join the Alaniz, et al. v. City of Los Angeles (“Alaniz”) lawsuit. Approximately six hundred Officers have already joined the Alaniz Lawsuit, with approximately 75 Officers joining the case each week based solely on word of mouth discussions and prior to receiving notice from the court. www.cpk-law.com www.hafif.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Fortis Invests Tax Equity in Iberdrola's First Wholly Owned, Developed and Operating U.S. Wind Farm NEW YORK, March 8 /PRNewswire-FirstCall/ -- Fortis (Euronext Amsterdam: FORA / Brussels: FORB), an international financial services provider engaged in banking and insurance, announced today that it has closed and funded a $26 million equity investment in Iberdrola's 26-megawatt Locust Ridge wind farm located in Mahoney city in Schuylkill county, Pennsylvania. Fortis Capital, a division of Fortis, is the sole tax equity provider in this project. Iberdrola is the world's leading owner and operator of renewable energy facilities, with an installed capacity of 4,500 MW worldwide. www.fortis.com 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. FBL Financial Group Announces Pricing of Debt Offering WEST DES MOINES, Iowa--(BUSINESS WIRE)--FBL Financial Group, Inc. (NYSE:FFG) today announced the pricing of its offering of $100,000,000 aggregate principal amount of 5 7/8% Senior Notes due 2017. The offering will be made to certain initial purchasers pursuant to a private placement. The initial purchasers have informed FBL that they will sell or offer the notes within the United States to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 and to persons outside the United States in compliance with Regulation S under the Securities Act. FBL Financial Group plans to use the proceeds primarily for capital contributions to its subsidiary, EquiTrust Life Insurance Company, and for general corporate purposes. www.fblfinancial.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. Wisconsin Businesses Commit to National Initiative for Improving Quality and Value in Health Care Wisconsin Collaborative for Healthcare Quality Recognized MILWAUKEE, March 7 /PRNewswire-USNewswire/ -- In a meeting today in Milwaukee with HHS Secretary Mike Leavitt, executives from area businesses signed statements of support for a national initiative aimed at improving health care quality, information and cost-effectiveness for employees and their families. The Wisconsin Collaborative for Healthcare Quality was recognized as a pilot site to pioneer new methods of reporting on quality of care. Altogether, more than 2.3 million people will benefit by implementation of this initiative in Wisconsin. Employers signing on from Wisconsin include Advanced Healthcare, SC; Anthem Blue Cross & Blue Shield; Aurora; Blomquist Benefits LLC; Brady Corporation; Bucyrus International, Inc.; Business Health Care Group; Columbia St. Mary's, Inc.; Diversified Insurance Services, Inc; DMT-Drillmaster Tool; GE Healthcare; Harley-Davidson Motor Co.; Hays Companies; Health Care System Consultants; Health Solutions LTD; Humana; IntellectualMarketing, LLC; Johnson & Johnson; Johnson Controls; Jorgensen Conveyors, Inc.; Joy Global; Journal Sentinel; Ladish Co., Inc; Laurus Strategies; Manpower; Marcus Corporation; Marshall & Ilsley Corporation; Mid- State Insurance; Midwest Airlines, Inc.; MJ Care, Inc.; MMAC; Northwestern Mutual; Orion Corporation; Patient Care; Rockwell Automation; Roundy's Supermarkets, Inc.; Screen Specialists Ltd.; Serigraph Inc; Steffes & Associates; The Alliance; ThedaCare, Inc.; Thurman Financial Services; United Healthcare; US Bank; Wachovia Insurance Services; Wisconsin Collaborative for Healthcare Quality; Wisconsin Health Information Organization; Wisconsin Medical Society; Wisconsin Physicians Service; the Department of Employee Trust Funds; City of Milwaukee Health Department; and the Department of Health and Family Services. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Indiana Businesses Commit to National Initiative for Improving Quality and Value in Health Care Governor Mitch Daniels Signs Executive Order Committing State to Four Cornerstones INDIANAPOLIS, March 7 /PRNewswire-USNewswire/ -- In a meeting today in Indianapolis with HHS Secretary Mike Leavitt and Governor Mitch Daniels, executives from area businesses signed statements of support for a national initiative aimed at improving health care quality, information and cost- effectiveness for employees and their families. Governor Mitch Daniels also agreed to support the effort, signing an Executive Order committing the State of Indiana to this initiative for the State's 30,000 employees. The Indiana Health Information Exchange was recognized as a pilot site to pioneer new methods of reporting on quality of care. Altogether, more than 2.3 million people will benefit by implementation of this initiative in Indiana. Employers signing on from Indiana include Anaclim; Purdue University; United Healthcare; Caterpillar Inc.; Greater Indianapolis Chamber of Commerce; Clarian Health Partners; WellPoint, Inc.; Wishard Health Services; Henriott Group; Indiana Chamber; City of Indianapolis -- Marion County; Marsh Supermarkets, LLC; United Healthcare Indiana/Kentucky; Anthem Blue Cross and Blue Shield; Melton Investments and Management LLC; Indiana University; Schmidt Associates, Inc.; Cummins, Inc.; Eli Lilly and Co.; Daimler Chrysler and General Motors More information on Value-Driven Health Care is available at http://www.hhs.gov/transparency. For a full list of companies who have signed statements of support, including those signing in Indiana today, visit: http://www.hhs.gov/transparency/employers/statements.html. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Proformance Insurance Launches Low-Cost BlueStar Car Insurance (SM) FREEHOLD, N.J., March 7 /PRNewswire/ -- The Proformance Insurance Company, a provider of specialized property-casualty insurance products based in Freehold, N.J., today announced the launch of BlueStar Car Insurance (SM), a new low-cost car insurance policy designed to provide value, service and convenience to a broad spectrum of New Jersey drivers. BlueStar Car Insurance (SM) provides very flexible coverage options, allowing customers to reduce premium costs by purchasing the car insurance coverage they need to insure their current life situation. Customers can also choose the way they prefer to purchase their policy, either by visiting the BlueStarCarInsurance.com web portal or contacting any Proformance Partner Agent. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. Guardian Launches Coverage for Zila Pharmaceutical's ViziLite(R) Plus Technology to Improve Oral Cancer Screening Bolsters Efforts to Fight Disease Through Oral Preventive Care One of the First Insurers to Offer ViziLite Plus Screening in Dental PPO Plans NEW YORK, March 8 /PRNewswire/ -- In the wake of mounting evidence about the connection between oral health and overall health, The Guardian Life Insurance Company of America (Guardian) today announced that it will offer coverage for ViziLite(R) Plus with TBlue630(TM), an oral cancer screening technology that can detect early signs of oral cancer. ViziLite Plus with TBlue630 can dramatically increase chances of survival. Guardian is one of the first benefits providers to offer ViziLite Plus coverage nationally through a dental PPO network. Oral cancer claims the life of one American every hour, according to The American Cancer Society. However, when oral cancer is detected early, treatment is 90% successful and less costly. The ViziLite Plus exam is fast and painless, and can help save lives. www.GuardianDental.com www.zila.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. Beyond Mourning - Widows Who Embrace Life State Farm(R) Seeks Inspirational Women to Honor in Fourth Annual Embrace Life(R) Awards BLOOMINGTON, Ill., March 8 /PRNewswire/ -- Each year, more than 800,000 women are widowed in the United States(1). Many are left with uncertain circumstances around their family, emotions and/or financial future. Yet some women find extraordinary strength to overcome these circumstances and persevere -- going beyond their grief to inspire others. State Farm Life Insurance Company is looking to celebrate personal achievements and share the life lessons of five of these women during its 2007 Embrace Life Awards. Honorees will receive a $10,000 cash award and recognition at the Embrace Life Awards event in New York City on Tuesday, Sept. 25, 2007. "The death of a spouse is one of the most difficult things for the human spirit to endure, and it also can have a tremendous financial impact on families, which I saw first hand as a State Farm agent," says Susan D. Waring, executive vice president and chief administrative officer of State Farm Life Insurance Company. "The Embrace Life Awards celebrates the achievements of women who turn adversity into hope, and educates families about the importance of planning today for tomorrow." The program urges women to set aside time with their spouses to talk about life insurance and other financial planning tools. Says Waring, "While preparing for the worst won't make it happen, it eases the burden if a tragedy occurs." For official rules and more information on the State Farm Embrace Life Awards, visit http://www.sfembracelifeawards.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. Allstate Named Top Company for Executive Women Fifth Year in a Row The National Association of Female Executives recognizes Allstate for advancing women in the workplace. NORTHBROOK, Ill.--(BUSINESS WIRE)--Allstate is one of the top 10 best companies for executive women in the country according to The National Association of Female Executives (NAFE). Thirty companies were named to this list recognizing companies for their exemplary programs that promote the advancement of women in leadership positions. Allstate is the only Illinois-based company to be recognized with this distinction. To view the entire list of companies being recognized please visit www.nafe.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. Prudential Annuities Announces Enhancements to Highest Daily Lifetime Fivesm Innovative Features Offer Protection of Principal and Greater Lifetime Withdrawal Opportunities NEWARK, N.J.--(BUSINESS WIRE)--Prudential Annuities, the domestic annuity business for Prudential Financial, Inc. (NYSE: PRU) today announced enhancements to Highest Daily Lifetime Five, a variable annuity optional living benefit that guarantees, subject to the program rules, a five percent income stream every year for life based on the highest of each daily account value grown at five percent annual compounded growth to the date of the first withdrawal. Launched in November of 2006, HD Lifetime Five offers investors the opportunity to increase their annuities’ income potential every day the market is open—up to 250 times a year (for the first 10 years or until the first withdrawal if earlier). Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 29. Aetna, WorkingRx Share Information to Help Employers Reduce Workers’ Comp Pharmacy Costs -- Pharmacy benefit manager and third-party biller provide industry-leading data integration, formulary management of unidentified prescriptions, and cost savings for employers and payers -- HARTFORD, Conn.--(BUSINESS WIRE)--Aetna Workers’ Comp Access® (AWCA) and WorkingRx™ have signed an agreement that gives AWCA pharmacy customers unique cost-saving advantages. Under the agreement AWCA and WorkingRx will share information so that prescriptions for eligible injured workers, especially those who may not yet be enrolled in AWCA’s pharmacy benefit management (PBM) program, can be matched to the program and their corresponding formulary significantly faster -- often once the first prescription is processed. www.aetna.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 30. Global Finance Leaders Tackle Regulatory Compliance Issues at 2007 Mantas User Conference NEW YORK--(BUSINESS WIRE)--Mantas Inc., a business of i-flex® solutions and a provider of regulatory compliance, loss prevention and revenue generation solutions, reports another constructive and informative user group conference, held this year at the Doral Golf Resort & Spa in Miami, Florida. Over 200 participants from around the world and all sectors of the financial services industry attended the event to discuss today’s challenges in regulatory compliance. www.mantas.com www.iflexsolutions.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 31. Parameds.com (PDC) Presents Industry Study Mapping the Growth and Future of “Remote Underwriting” to the Society of Actuaries (March 8, 2007) Kew Gardens, NY— Eli Rowe, CEO of Parameds.com, a PDC company, addressed the current state of remote underwriting at the Third Annual SOA Tele-Underwriting Seminar hosted by the Society of Actuaries in Phoenix, Arizona today. The focus of the presentation was on PDC’s recently released comprehensive study analyzing the growing use of remote underwriters in Life, Disability, Long-Term Care, and Health insurance risk management. The study surveyed and interviewed three distinct groups impacted by this growing trend—underwriters currently working from their homes, carriers, and reinsurers. The study was conducted from the second half of 2006 into January of this year. The study is available at the PDC website (http://www.parameds.com/white_paper.html). Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 32. AIA To Focus On Reinsurance, Catastrophe Issues, And Modernizing Personal Lines Regulation At NAIC Meeting WASHINGTON, D.C., March 8, 2007– The American Insurance Association (AIA) supports a broad-based evaluation of the U.S. reinsurance regulatory system, but remains opposed to the Reinsurance Evaluation Office (REO) proposal that state insurance regulators will continue to discuss during the National Association of Insurance Commissioners’ (NAIC) meeting, March 9-12, in New York. However, AIA is encouraged that the NAIC’s Financial Condition (E) Committee has referred key components of the proposal back to the Reinsurance Task Force for additional work. AIA will continue to press the NAIC to adopt a comprehensive approach to reviewing, and, if necessary, reforming the U.S. reinsurance regulatory framework. AIA has argued for years that any changes to the framework of regulating reinsurers not licensed in the U.S. must protect the solvency of the primary insurer buying that reinsurance. The current system of having those reinsurers post 100 percent collateral for the reinsurance they write in the U.S. provides such solvency protection. www.aiadc.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 33. The Parker Group, Inc. Enters New Financial Era Lubbock, TX (March 7, 2007) - The Parker Group, Inc., a leading, integrated health care services company headquartered in Lubbock, Texas, BMO Capital Markets and Ares Capital, announced today the successful completion of the company’s refinancing efforts establishing a stable, long-term capital structure and positioning the organization for another strong growth period. www.theparkergroup.com www.bmocm.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 34. "Who Says I'm Not Disabled?" New Writing Seminar Targets Disability Claims Professionals MARCH 15, 2007. PORT WASHINGTON, NY - When a claims professional tries to explain to policyholders that they are not entitled to disability insurance, there may be hundreds of thousands of dollars riding on how clearly and concisely the letter makes its case. Now, there's a claims writing seminar aimed solely at disability professionals who require the special blend of medical knowledge, persuasive skills, and clear phrasing to make policyholders understand and accept difficult disability decisions. Gary Blake, Director of The Communication Workshop, who is launching a series of these seminars for Aetna, says: "Disability claims people need to know how to write coverage denial letters, approvals of claims for benefits, claims evaluations, responses to requests for appeals, and lots of other types of letters. They are the jacks of all trades of the claims industry and must be excellent communicators. That's why they deserve a class tailored to their special writing needs." For a description of this one-day on-site seminar, e-mail Dr. Blake at garyblake@aol.com. Blake's Web site is www.writingworkshop.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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