Daily Quote: "Once you make a decision, the universe conspires to make it happen." - - Ralph Waldo Emerson
1. Forecasters predict busy Atlantic hurricane season Tue Apr 3, 2007 9:48am ET MIAMI (Reuters) - The 2007 Atlantic hurricane season will be far more active than usual with an expected 17 tropical storms, of which nine will strengthen into hurricanes, a noted forecasting team founded by Dr. William Gray said on Tuesday. In an updated outlook for the June 1-November 30 season, the Colorado State University team led by hurricane forecast pioneer Gray and Philip Klotzbach raised the number of expected storms and hurricanes from the 14 and seven, respectively, that it had predicted in December. The forecasters said the disappearance of the El Nino phenomenon, which tends to dampen Atlantic hurricane activity, and warm Atlantic sea surface temperatures lay behind their upgraded forecast. © Reuters 2007. All Rights Reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article Editor's Note: If you are interested in hurricane forecasting, you will want to check out www.TropicalStormRisk.com and their updated April report that is available in the middle of their web page. The information below is from an e-mail sent to us: Hang on to your hats! Tropical Storm Risk*, part of the Benfield Hazard Research Centre at University College, London, has revised its 2007 Atlantic Basin hurricane forecast upward. El Nino, which moderated storm development last year, is not active this year. As a consequence, we can expect:
2. WellPoint ties members' health to employee bonuses Tue Apr 3, 2007 9:12AM EDT NEW YORK (Reuters) - Health insurer WellPoint Inc. said on Tuesday it is beginning to gauge the health of its 34 million members using an index of measures, and is linking its employees' bonuses to progress in that index. The company, which is the largest U.S. health insurer by membership, introduced a health index that it will apply to all of its insurance plans. The index includes 20 different clinical areas, which involve prevention and screening, management of chronic diseases, clinical outcomes and patient safety. For example, the company will measure whether diabetics are getting necessary eye exams, emergency room visits for asthmatics, breast-cancer screenings for women, and immunizations for children. Five percent of bonuses for each of WellPoint's 42,000 employees will be linked to improvement in the health index, the company said. "We're making a bold statement that we're going to improve the health of our members, and we're putting compensation of every ... WellPoint associate on the line to improve health," Chief Medical Officer Sam Nussbaum said. If the company hits its predetermined goal for the index, all employees will earn that portion of the bonus. If it does not, none of its employees will gain that part of the bonus. "We all make it, or we all don't," Nussbaum said. Indianapolis-based WellPoint is a licensee of Blue Cross Blue Shield health plans, and administers Medicaid plans for low-income Americans and Medicare plans for the elderly. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Yearly Long Term Care Costs Increase 15% Since 2004 to Nearly $75,000 in 2007 According to Annual Study by Genworth Financial Additional Polling Shows 75% of Americans Have No Long Term Care Plans RICHMOND, Va., April 3 /PRNewswire-FirstCall/ -- Genworth Financial's (NYSE: GNW) 2007 Cost of Care Survey found the average national cost of care for nursing homes, assisted living facilities and in the home has steadily increased over the past four years and has reached new highs that exceed most household incomes in the U.S.(1) The rising costs of long term care may, therefore, present difficulties for many Americans should they need to pay for long term care out of their own pockets. A separate national poll conducted by Public Opinion Strategies for Genworth Financial with input from the Alzheimer's Association found that 75 percent of Americans have made no long term care plans and 59 percent expressed concern about being able to pay for long term care. Almost half of the respondents (44 percent) incorrectly believe that Medicare or their private health insurance will pay for their long-term care needs. In actuality, health insurance and the federal Medicare program do not generally cover long-term care. Genworth's annual benchmark study surveyed more than 11,000 nursing homes, assisted living facilities and home care providers in all 50 states and the District of Columbia. It was conducted by CareScout between January and February 2007 to gain a comprehensive view of long-term care expenses. The 2007 Cost of Care Survey, which offers national, state, and local cost information is available at http://www.genworth.com. According to the 2007 Cost of Care Survey, the average national cost in 2007 of a single year in a private nursing home room is $74,806. To put this into context, one year in a private nursing home room costs nearly double the average full 4-year college degree in the U.S., including tuition, room and board (College Board's national average for public colleges is $51,184 for four years, making a single year in a nursing home 46 percent more expensive). Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. Bank Holding Companies’ Mutual Fund and Annuity Fee Income Levels Off at $19.5 Billion in 2006 Radnor, PA, April 3, 2007 – Mutual fund and annuity fee income at bank holding companies (BHCs) leveled off at $19.46 billion in 2006, according to the 2007 Michael White-Symetra Bank Holding Company Fee Income Report (BHC-FIR). The report, compiled by Michael White Associates, LLC (MWA) and sponsored by Symetra Financial, measures and benchmarks bank holding companies’ performance in generating insurance, investment, and mutual fund and annuity fee income. The data are reported by nearly 1,000 top-tier large bank holding companies. In 2006, the Federal Reserve changed the definition of a “small” bank holding company from one with less than $150 million in consolidated assets to one with less than $500 million, thereby reducing by nearly 500 the number of BHCs that reported mutual fund and annuity fee income in 2006. Nationally, BHCs’ mutual fund and annuity fee income decreased 0.6% from $19.46 billion in 2005 to $19.33 billion in 2006. During 2006, 62.7% of BHCs in the United States engaged in sales and servicing activities that produced mutual fund and annuity fee income. www.BankInsurance.com www.Symetra.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
5. Peachtree Life Settlements Closes on $500 Million Credit Facility BOYNTON BEACH, Fla.--(BUSINESS WIRE)--Peachtree Life Settlements is pleased to announce that it has closed on a $500 million credit facility for the acquisition of life settlements. This new facility gives Peachtree Life Settlements the capacity to purchase an additional $1.5 billion in life insurance policies. This development will add to Peachtree Life Settlements’ ongoing presence as a pioneer in providing institutional financing for the life settlement market. Peachtree Life Settlements purchases life insurance policies from individuals, typically over the age of 65 with a life expectancy of between 36 and 180 months. www.PeachtreeSettlementFunding.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 6. Peachtree Life Settlements Launches Life Settlement Trading Operations BOYNTON BEACH, Fla.--(BUSINESS WIRE)--Peachtree Life Settlements is pleased to announce the launch of Life Settlement Trading operations which it commenced in the first quarter of 2007. This new endeavor has made a strong start with policies representing over $200 million in net death benefit sold to institutional counter-parties in the first quarter of 2007. Peachtree Life Settlements has appointed Senior VP Sergio Salani as the head of these activities, and his efforts resulted in several block sales with European banks. www.PeachtreeSettlementFunding.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. A.M. Best Banking Report: Are Loss Reserves Adequate in Light of Rising Delinquencies? OLDWICK, N.J.--(BUSINESS WIRE)--A prominent feature of the U.S. banking industry’s fourth quarter 2006 results were noticeable increases in other real estate owned (OREO) and real estate charge-offs of 9% and 33%, respectively, and in emerging past due real estate loans, which increased by 21%. This leads to the question of whether loan loss reserves are sufficient for the industry. The question is even more pertinent for the smaller banks, which exhibit concentrations in higher risk commercial real estate and construction loans: 25% and 14% of total loan and leases, respectively. This study is available electronically from the A.M. Best Co. Web site at www.ambest.com/banks. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. AXA Equitable Encourages Consumers to Overcome Retirement Planning Inertia Less Than Half of Americans 55+ Know How Much Income They Will Have in Retirement NEW YORK, April 2 /PRNewswire/ -- AXA Distributors, LLC is launching a new marketing campaign to encourage consumers to overcome their inertia and focus on retirement planning. The company has developed materials to facilitate the retirement planning process that registered representatives can use to help clients plan for their futures. To encourage reps who sell its annuity products to initiate such conversations with their clients, AXA Distributors is offering to buy both of them a Grande Latte or their beverage of choice. "Hundreds of millions of dollars are spent on financial services advertising every year but very little of it actually provides consumers with practical information," said Jamie Shepherdson, President of AXA Distributors and Executive Vice President of New York-based parent company AXA Financial, Inc. "We want to spur Americans to wake up and smell the coffee, so we're making coffee gift cards available, which we hope will be the impetus for reps to have crucial discussions with their clients." Less than half of U.S. workers age 55 and up have any idea how much income they will have in retirement, according to the annual AXA Retirement Scope survey. Moreover, most Americans don't get around to planning until they have missed a significant portion of their working years: 26% of people began planning for their retirement between the ages of 45-54, while 32% didn't start planning until they were 55 or older. To access the entire survey conducted by AXA Equitable, go to http://www.axaonline.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. ING Creates Wealth Management and Insurance Platforms in the US to Make it Easier for Consumers to Understand and Synchronize Retirement Savings, Income Distribution and Risk Management Strategies ATLANTA, April 2 /PRNewswire-FirstCall/ -- In its ongoing Consumer Retirement Surveys, McKinsey & Company identified a number of concerns that US pre-retirees are becoming increasingly anxious about, including potential cuts to safety net programs, accumulating sufficient savings, and creating a guaranteed stream of income. With these concerns as the backdrop for the US retirement savings environment, ING US Financial Services (NYSE: ING), part of Amsterdam-based ING Groep NV, announced recently that it has realigned its US retirement savings and insurance operations to pioneer a more effective way to address the evolving retirement challenges facing US consumers. For more information about ING's US Wealth Management and US Insurance businesses, visit http://www.ing.com/us. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. PIANJ, PIANY kick off CPIA designation at Joint Annual Conference Designation program is first sales-oriented course approved for CE GLENMONT, N.Y.—The Professional Insurance Agents of New Jersey and the Professional Insurance Agents of New York State will introduce a Certified Professional Insurance Agent designation program for their respective states at the associations’ 2007 Joint Annual Conference, June 10-12, 2007, at the Trump Taj Mahal, Atlantic City. The CPIA designation is the first national designation program for sales that has been approved for continuing education credits. Developed as a sales-oriented designation program, the CPIA designation is conferred by the American Insurance Marketing and Sales Society. The AIMS Society is a national organization dedicated to providing interactive marketing and sales training, ongoing resources and networking opportunities to insurance professionals. PIA’s CPIA designation program is the latest designation program offered by PIA. The associations already offer courses for insurance professionals looking to earn their Certified Insurance Service Representatives and Certified Insurance Counselor designations. For more information on any of PIA’s programs, call the PIA’s Education Department at (800) 424-4244, or logon to the Web site (www.pia.org) and enter EC10120 in the Quick-Link box. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 11. Insurance Commissioner Steve Poizner Announces Former Insurance Agent Sentenced for Insurance Fraud and Petty Theft Penn Valley insurance agent pocketed more than $44,000 in clients’ premiums SACRAMENTO - Insurance Commissioner Steve Poizner today announced that James Sepeda, 33, a former insurance agent from Penn Valley, was convicted of one felony count of insurance fraud and three misdemeanor counts of petty theft. The conviction resulted from an investigation conducted by the California Department of Insurance (CDI) Investigation Division. According to investigators, Sepeda misappropriated over $44,000 in insurance premiums between December 2004 and April 2006. As part of the plea agreement, Sepeda was placed on five years supervised probation, sentenced to 120 days in jail, 300 hours of community service, and ordered to pay victim restitution that will be determined at a later date. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. Yates, Polansky first voices in new podcast Leadership Series from Applied Systems University Park, IL—April 2, 2007—Jeffrey M. Yates and Brady Polansky are the first two industry experts featured in The Leadership Series, a podcast forum that highlights timely topics for the independent insurance agent and broker community. The new series is produced by Applied Systems, Inc., developer of insurance agency and broker management systems. Series host is Peter van Aartrijk, Jr., managing director of The van Aartrijk Group, a communications firm specializing in the insurance and financial sectors. Leadership Series podcasts are available for free download from iTunes® and as audio files at www.appliedsystems.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. Hiscox USA Launches Media Liability Insurance Specialty insurer first to offer Media Liability coverage to businesses in the U.S. NEW YORK, April 3 /PRNewswire/ -- Hiscox USA, part of the Hiscox Group (LSE: HSX.L), a leading provider of specialty insurance, today announced it is licensed to provide media liability coverage to U.S. businesses, including publishers, broadcasters, production companies, and marketing and advertising agencies.The Hiscox USA Media Liability coverage will be underwritten by Managing Director, Joanne Richardson and Vice President, David Hart reporting to Hiscox USA President, Ed Donnelly. This non-admitted insurance will be written on Hiscox paper from its three U.S. locations in New York City, Armonk, NY and San Francisco. "With broadcasters and publishers constantly upgrading their methods of content distribution to satisfy evolving consumer behaviors, be it via digital video, podcasting or interactive content such as blogs, content providers have never been more at risk," explained Richardson. "There is a clear migration toward digital distribution platforms on the part of media and entertainment companies that is exposing them to more unique copyright, defamation and libel risks." www.hiscoxusa.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. Legislation to Protect Health Insurance Benefits for Motorcyclists Introduced in Congress Motorcycle Industry Council to Work with Key Congressional Leaders to Help Secure Enactment IRVINE, Calif.--(BUSINESS WIRE)--U.S. Congressmen Michael C. Burgess, M.D. (R-TX) and Bart Stupak (D-MI) have introduced bipartisan legislation to stop insurance companies from denying payments for injuries incurred while participating in certain legal recreational and transportation activities, such as motorcycling and riding all-terrain vehicles (ATV). Identical legislation has been introduced in the Senate by Senators Susan Collins (R-ME) and Russ Feingold (D-WI). Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. WellPoint is Nation's First Health Benefits Company to Measure the Health of its Members Company With 34 Million Members to Tie Improving Member's Health to Employee Incentives INDIANAPOLIS, April 3 /PRNewswire-FirstCall/ -- WellPoint, Inc. (NYSE: WLP), the nation's largest health benefits company in terms of medical membership, today unveiled its Member Health Index (MHI), a comprehensive initiative designed to measure the improvement in the health of its 34 million members. WellPoint is the first health benefits company to directly link success in improving the health of its members with the compensation of every associate in the company. The MHI will measure the success of WellPoint's programs to better manage care and improve the health and wellness of its members. www.wellpoint.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. U.S. Labor Department Recovers More Than $2 Million to Pay New Jersey Benefit Plan Health Claims NEWARK, N.J., April 2 /PRNewswire-USNewswire/ -- The U.S. Department of Labor has obtained a court judgment requiring the former trustees of the New Jersey Licensed Beverage Association multiple employer welfare arrangement (MEWA) in Trenton to restore $1.65 million as restitution for mismanagement of the plan. As a result of a separate judgment, another $600,000 in restitution already has been paid to the plan by co-defendant Midlantic Healthcare Inc. Besides the restitution, the trustees are permanently barred from serving in a fiduciary capacity to any employee benefit plan governed by the Employee Retirement Income Security Act (ERISA) in the future. Chao v. New Jersey Licensed Beverage Association Inc. Civil Action Number 04-5692 Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. Event Backgrounder: President Bush participates in a Meeting on Health Savings Accounts WASHINGTON, April 2 /PRNewswire-USNewswire/ -- The following was issued today by the White House Press Office: BACKGROUND The President will participate in a meeting on Health Savings Accounts in the Roosevelt Room of The White House. Today, America's Health Insurance Plans (AHIP) released a report showing the number of individuals covered by Health Savings Accounts has increased by 43 percent over the last year, from about 3.2 million in January 2006 to about 4.5 million in January 2007. In addition, according to the report, twenty- seven percent of the new enrollees in the individual market were previously uninsured. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. Max Re Capital Ltd. Completes Acquisition of Excess and Surplus Lines Company HAMILTON, Bermuda--(BUSINESS WIRE)--Max Re Capital Ltd. (NASDAQ: MXRE; BSX: MXRE BH) (the “Company”) today announced that its subsidiary, Max USA Holdings Ltd., has completed the acquisition of a U.S.-based excess and surplus lines company, which as previously indicated will operate under the name Max Specialty Insurance Company. As announced on December 13, 2006, the new Max subsidiary complements the Company’s existing insurance and reinsurance operations based in Bermuda and Dublin, Ireland. www.maxre.bm Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Announcing the Formation of a New Commercial Finance Platform: FirstLight Financial Corporation OLD GREENWICH, Conn.--(BUSINESS WIRE)--The doors open this week at the newly formed commercial finance business FirstLight Financial Corporation, based in Old Greenwich, Conn. Formed by a team of seasoned professionals, FirstLight offers customized financings, primarily for middle market companies. The business is a “one-stop” source of capital including senior debt, second lien and mezzanine debt, structured financings and equity. www.firstlightfinancial.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. RAM Mutual Insurance Company Provides Identity Theft Services Through Partnership with Identity Theft 911 All Farm and Homeowner Policyholders Receive Expert Resolution Services Free of Charge ESKO, Minn.--(BUSINESS WIRE)--RAM Mutual Insurance Company, a carrier offering products to nearly 600 independent agencies throughout Minnesota, announced today a partnership that will provide cutting-edge identity theft resolution services to all its farm and homeowner policyholders, free of charge. Ram Mutual has collaborated with the leading provider of identity theft-related services, Arizona-based Identity Theft 911®. This is a step forward for Ram Mutual in protecting its policyholders from the virulent crime of identity theft, which has topped the FTC’s list of consumer complaints for the last seven years.* www.rammutual-idtheft.com www.identitytheft911.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. Blue Cross of California Delivers $2.68 Million to Community Organizations in 2006 More than 1500 Community-Based Non-Profit Organizations Receive Support from the Company and its Associates THOUSAND OAKS, Calif., April 2 /PRNewswire/ -- Blue Cross of California (Blue Cross) has a long history of giving back to the communities where its associates live and work. In 2006, the strong commitment continued through financial support and the generosity of the company's associates.Blue Cross' community efforts for 2006 were highlighted by a $2.68 million contribution that supported 1526 community-based non-profit organizations throughout California. Through its annual Associate Giving Campaign, Blue Cross associates can direct their giving to any 501(c)(3) organization, and enjoy a 50 percent match by the company's foundation. www.bluecrossca.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Benefit Informatics Introduces VerifierSM Allows Healthcare Providers to Verify Member Benefits and Eligibility Online in a Fraction of the Time Previously Required TULSA, Okla.--(BUSINESS WIRE)--Every day, millions are treated in their physician's office or local hospital… And every day, healthcare provider administrative staff must verify insurance benefits and eligibility to confirm patient financial responsibility for co-payment amounts and deductibles. Eligibility verification once requiring confirmation over the telephone; the fax machine and now the Internet, have improved this process. Today, Benefit Informatics introduces VerifierSM, a web-based eligibility verification service that allows healthcare providers access to current member benefit and eligibility information directly from the payer via a secure website. www.benefitinformatics.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. ProAssurance Announces $150 Million Repurchase Authorization BIRMINGHAM, Ala.--(BUSINESS WIRE)--The Board of Directors of ProAssurance Corporation (NYSE:PRA) today authorized $150 million to repurchase our shares or debt securities. The authorization is effective immediately, but the timing and quantity of any purchases will depend on market conditions and changes in our capital requirements. Additionally, our repurchase activity is subject to limitations that may be imposed on such purchases by applicable securities laws and regulations, and the rules of the New York Stock Exchange. www.ProAssurance.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. Brokers Are Migrating to Larger Voluntary Cases Based on the Findings of a Study by Eastbridge Consulting Group AVON, Conn.--(BUSINESS WIRE)--The percentage of employers (with 10 or more employees) in the U.S. that offer at least one voluntary product declined to 54 percent according to the latest Spotlight Report by Eastbridge. “This represents a decline of about twelve points from a study we conducted in 2002,” says Gil Lowerre, president, Eastbridge. “This was the first time we have seen a decrease in this number,” adds Lowerre, “but the decrease was predominantly due to a decline in the small business segment (those employers with 10 to 100 employees).” The 54 percent is calculated using a weighted average that takes into account the number of businesses in the U.S. “Since there are so many small businesses,” says Bonnie Brazzell of Eastbridge, “the decrease there had a significant impact on the overall number.” In the latest Eastbridge study, the percent of small employers offering at least one voluntary product was just 50 percent, down 12 points from a study in 2002. “This is in marked contrast to the results in the larger case sizes, especially businesses with 101 to 500 employees,” explains Brazzell. The percent of employers in the 101 to 500 employee size category increased 17 points in the latest study. On the positive side, the increase among larger employers drove the percentage of employees in the U.S. (in businesses with at least 10 employees) that have access to voluntary benefits up to 70 percent. “I think we can say that brokers have succeeded in making voluntary products more readily available to employees,” says Lowerre, “but many have done it by forsaking the small case market for larger clients.” The Worksite MarketVision™ --The Employer Viewpoint Revisited is available for purchase. The study results are based on quantitative interviews conducted with benefit managers during June and July of 2006. The report also covers a wide range of topics about benefits in general as well as voluntary benefits specifically. For more information on this report call the company at (860) 676-9633 or email info@eastbridge.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. Hedge Fund Managers Negative on US Equities and Dollar GREENWICH, CT, USA, April 2, 2007 l Greenwich Alternative Investments, LLC released today its market sentiment indicators for U.S. equities, the U.S. Dollar and the U.S. Treasury 10-year Note. As was the case in March, the Managers remain solidly bearish on U.S. equities, as 69% expect the S&P 500 to end April lower, vs. 23% higher and 8% unchanged. The majority of the Managers continue to hold a pessimistic view on the U.S. Dollar, as 54% report a bearish position, vs. 23% bullish and 23% neutral. Lastly, the group is once again presenting a divided outlook on the U.S. Treasury 10-year Note, as 31% are bullish, 31% bearish and 38% neutral. The Greenwich Alternative Investments Macro Sentiment Indicators are based on the outlook of hedge fund managers employing a macro view and who manage, in aggregate, in excess of $30 billion in assets. The purpose of the indicators is to reveal how these managers believe the S&P 500, the U.S. Dollar and the U.S. Treasury 10-year Note will perform over the current month. Greenwich Alternative Investments manages one of the world's largest hedge fund databases and is among the oldest providers of hedge fund indices, asset management services and research to institutional investors worldwide. Further information is available at HYPERLINK www.greenwichai.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. Ohio Casualty Group® Signs Two-Year Deal With PMSI Tampa, Florida (April 2, 2007) – PMSI, the nation’s single-source solution for workers’ compensation products and Ohio Casualty Group®, Fairfield, OH, one of the nation’s top 50 property and casualty insurance groups, today announced a two-year agreement under which PMSI will provide comprehensive pharmaceutical management and medical services equipment. www.ocas.com www.landersmadden.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. CPCU Society National Leadership Institute Course Coming To Seattle MALVERN, PA, APRIL 3, 2007—On April 20, the CPCU Society and the Society’s Pacific Northwest and Lake Washington Chapters will be hosting a CPCU Society National Leadership Institute (NLI) course: Creative Thinking in Business. Course materials, lunch, and refreshments will be included. The CPCU Society National Leadership Institute (NLI) is the CPCU Society’s premier educational program for insurance industry professionals looking to advance their careers or take on leadership roles within their organizations. Both CPCU Society members and nonmembers are invited to attend NLI courses. www.cpcusociety.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 29. Cole To Address Big “I” Leadership Luncheon Rising Republican party leader will speak on April 24 WASHINGTON, D.C., April 3, 2007—National Republican Congressional Committee (NRCC) Chairman Tom Cole (R-Okla.) will speak to national leaders of the Independent Insurance Agents & Brokers of America (the Big “I”) on April 24, just prior to the group’s Legislative Conference & Convention. Attendees at the leadership gathering will include Big “I” Executive Committee and Government Affairs Committee members as well as agents and brokers from Cole’s home state of Oklahoma, along with other agent and broker leaders. More than 1,200 independent agents and brokers from across the country are expected to participate in the Big “I” Legislative Conference & Convention, the insurance industry’s premier legislative meeting. This year’s event will take place April 25 through 27 at the Marriott Wardman Park Hotel in Washington, D.C. www.independentagent.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 30. AIA calls u.s.-korea free trade agreement strongest in decades WASHINGTON, D.C., April 2, 2007– The American Insurance Association (AIA) today strongly praised the work of U.S. trade negotiators who successfully concluded their talks on a Free Trade Agreement with Korea that will provide significant commercial gains for both countries. “This is critically important to AIA and its members because Korea is the eighth largest insurance market in the world, but for regulatory reasons, has been largely closed to us,” said David Snyder, AIA vice president and assistant general counsel. “Based upon information we have from U.S. trade negotiators, we believe this to be the strongest outcome for financial services ever achieved in trade negotiations.” “We’ve been advised that Korea agreed not to expand the government-owned Korea Post into property-casualty insurance, and to apply the full range of regulatory transparency provisions to assure that all insurers are treated equally,” Snyder said. www.aiadc.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 31. McLarens Young International Opens New Office in San Diego ATLANTA (April 2, 2007) – McLarens Young International, a leading global claims service provider, today announced the opening of a new office in San Diego – the latest development in the firm’s continued growth worldwide. The new office will be led by Duke Navo, Assistant Vice President for McLarens Young International. Navo has more than 21 years of multi-line claims adjusting and supervisory experience, and specializes in Property and Casualty claims. www.mclarensyoung.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 32. The Amacore Group, Inc. Signs Sales Agreement with National Discount Healthcare Solutions TAMPA, Fla.--(BUSINESS WIRE)--The Amacore Group, Inc. (OTC BB: ACGI), announced today it has signed a sales agreement with National Health Discount Solutions (“NDHS”) as part of the company’s continuing strategic initiative to aggressively expand healthcare services through its various distribution channels. NDHS is a healthcare services marketing company based in Milmay, New Jersey, and provides healthcare benefit solutions for individuals, group employers, unions and associations on a national scale. In addition to marketing The Amacore Group’s new health products along with the new NDHS HealthFlex Limited Benefits programs, the agreement facilitates the rollover to Amacore of existing NDHS business. www.ndhsllc.com www.amacoregroup.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 33. WisdomTree Investments Establishes Division to Target 401(k) Market Firm Hires Director of Retirement Services, Director of Product Development & Director of Fixed Income Strategy NEW YORK--(BUSINESS WIRE)--WisdomTree Investments, Inc. (Pink Sheets: WSDT) announced the creation of a business unit designed to deliver the full benefits of ETFs to the 401(k) marketplace. The Company has hired 401(k) industry veteran Al Shemtob as Director of Retirement Services to lead the effort. “Investors and advisors have become familiar with the many benefits that ETFs offer and are now looking to utilize them in their 401(k) plans,” said Jonathan Steinberg, CEO of WisdomTree Investments. “The 401(k) market, with over $2.4 trillion in assets, is an untapped channel for ETF growth and we believe WisdomTree’s ETFs are particularly well-suited for the retirement market.” www.wisdomtree.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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