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1. Property/Casualty Insurance Industry 2006 Financial Results To Be Released April 18 NEW YORK, April 17 – The property/casualty insurance industry’s 2006 year-end financial results will be released by ISO and the Property Casualty Insurers Association of America (PCI) on Wednesday, April 18. Media are welcome to participate in a conference call on April 18 with industry representatives who will review the results, provide commentary and analysis and answer questions. Participating in the conference call will be Michael R. Murray, ISO assistant vice president for financial analysis; Genio Staranczak, chief economist at PCI; and Dr. Robert P. Hartwig, president and chief economist of the Insurance Information Institute. The conference call will begin at 12:30 p.m. ET. To join the call Dial 1-888-447-7153 and key in the participant code 9812183. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Meadowbrook Insurance to buy underwriter firm for $23 million April 17 (Reuters) - Meadowbrook Insurance Group Inc. (MIG.N: ) said it agreed to buy U.S. Specialty Underwriters Inc. for $23 million in cash and stock and expects the acquisition to slightly hurt 2007 earnings. The insurance company said it expects 30 percent growth in non-regulated earnings, before interest, taxes, depreciation and amortization, as a result of the acquisition. Meadowbrook reiterated its 2007 earnings outlook of 80 cents to 85 cents a share. (Reporting by Sayantani Ghosh in Bangalore) © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Enrollment In Groundbreaking CASL™ Retirement Coaching Program Up 50 Percent Year To Date Fastest-Growing Program at The American College BRYN MAWR, PA – April 18, 2007 – The American College announced today that enrollment in the CASL™ Retirement Coaching Program has increased 50% percent year to date. “More than ever, financial advisors are focusing their practices on people moving through the second half of life,” said David A. Littell, JD, the Joseph E. Boettner Research Chair and Professor of Taxation at The American College. “Assets held by the baby boomer segment are expected to grow dramatically over the next five years; so many advisors are exploring ways of increasing their understanding of this important population segment.” “The demand for an advanced, comprehensive program that can aid professional advisors interested in helping Americans achieve financial security in retirement is one of the factors leading to increased CASL enrollments,” said Larry Barton, Ph.D., President and Chief Executive Officer of The American College. “Advanced knowledge is essential for financial advisors interested in effectively serving their clients and achieving career success.” The importance of baby boomers is undeniable. Baby boomers make up nearly 26% of the total population, with individuals in the 50-and-older segment currently earning almost $2 trillion in annual income. These individuals control more than $7 trillion in wealth, own 77 percent of all financial assets in America and represent 50 percent of all discretionary spending power. The CASL Retirement Coaching Program focuses on serving the financial needs of this important demographic from midlife through retirement planning, income distribution and wealth transfer. It requires the completion of five in-depth courses: • HS 328 Investments • HS 330 Fundamentals of Estate Planning • HS 350 Understanding the Older Client • HS 351 Health and Long-Term Care Financing for Seniors • HS 352 Financial Decisions for Retirement Designed to address the full range of health, psychological and sociological issues affecting baby boomer clients, the CASL curriculum provides insight into retirement income distribution planning as well as the special needs, social gerontology concerns and financial decisions affecting Americans during the second half of their lives. Financial professionals enrolled in the program also gain an advanced understanding of wealth management, estate planning, and long-term care as they learn about the technical tools and techniques associated with preparing a sound financial plan. Students must meet the specified experience requirements, maintain ethical standards, and agree to comply with both The American College's Code of Ethics and Procedures and applicable continuing education requirements. Courses can be completed on a distance-education basis with a robust set of online study tools. For more information on how to enroll in the CASL Retirement Coaching Program visit The American College website at www.TheAmericanCollege.edu/CASL or contact The American College Office of Student Services at 1-888-263-7265. The American College is dedicated to leadership in innovative training and development that helps financial services companies and their employees succeed. As a non-profit educational institution holding the highest level of academic accreditation, The College has served as a valued business partner to banks, brokerage firms, insurance companies and others for 80 years. The American College’s faculty represents some of the financial services industry’s foremost thought leaders. For more information, visit www.TheAmericanCollege.edu Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. 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 5. Student Database Shut Down To Lenders Amid Concerns Wed Apr 18, 2007 9:14AM EDT By Kevin Drawbaugh WASHINGTON (Reuters) - Following reports of abuse, the U.S. government on Tuesday temporarily barred college loan firms from accessing a database containing confidential personal information on millions of student borrowers. The Department of Education said in a statement that the suspension of access was effective immediately and applied to "lenders, loan holders, servicers and guaranty agencies." The suspension was effective During the suspension, the department "will conduct a review of the specific uses of (the database) by these entities to determine if there has been unauthorized usage," said Secretary of Education Margaret Spellings in a letter to Sen. Edward Kennedy, a Massachusetts Democrat, who requested the suspension. The Washington Post reported on Sunday that some college loan companies with access to the government-run database had used it in violation of federal rules, raising concerns about data mining and invasions of privacy. Spellings said that the National Student Loan Data System contains borrower information such as names and birth dates. The Post reported that the database contained sensitive financial records such as loan balances. Spellings said in her letter that the database was meant to be used solely to determine students' eligibility for college financial aid, loan collection and grant overpayments, not for the marketing of loans or any other products. Only approved users in possession of students' Social Security numbers can access the database, Spellings said. Since 2003, she said, the department has revoked 246 database access permits "due to suspicious activity" from users within the student loan industry. She said there was concern about an increase in use by lenders and other financial firms. Troubles with the database come at a turbulent time for the $85-billion student loan business. Several state attorneys general and two committees of Congress are investigating financial relationships between university officials and student lenders that critics say pose conflicts of interest. At the same time Kennedy and other lawmakers have introduced legislation that would change how the nation's complex student aid system works, directly threatening the business models of major lenders. California Democratic Rep. George Miller said he was pleased Spellings was moving to address "privacy issues." "However, it is long past time for the department to step up to the plate and vigorously investigate both the extent of lenders' misuse of the student loan database and the exploitation for profit of federal programs that are intended to help students and parents pay for college," Miller said. In addition, earlier this month, Education Department official Matteo Fontana was put on paid leave while his stock ownership in a student loan company is reviewed. Amid these troubles, Sallie Mae, the nation's largest student lender, said on Monday it agreed to be bought out for $25 billion by two private equity groups and two rivals -- JPMorgan Chase and Bank of America. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
6. China to let insurers buy infrastructure stakes BEIJING, April 18 (Reuters) - China will soon allow insurance firms to buy equity stakes in infrastructure companies as part of Beijing's efforts to diversify their investment channels, regulatory officials said in remarks published on Wednesday. Insurance firms began investing in infrastructure projects after the government allowed them to put no more than 5 percent of their total assets into the sector in March of last year. Currently, most of China's insurance firms invest their money in low-yielding deposits and bonds. The total assets of Chinese insurers totalled 1.97 trillion yuan ($255 billion) at the end of 2006. ($1=7.724 Yuan) Reporting by Langi Chiang, editing by Tamora Vidaillet (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. Results Show Predictive Modeling Reverses Spiraling Healthcare Costs, Produces Average 5.1% Cost Decline CareGuide’s One Care Street Predictive Modeling System Produces an 8:1 Return On Investment CORAL SPRINGS, Fla.--(BUSINESS WIRE)--CareGuide, Inc. (OTCBB:CGDE), a total population health management company, today announced that its newly acquired One Care Street™ predictive modeling and health coaching system produced a substantial reduction (average 5.1 percent) in overall healthcare costs for 10 customers studied over the 2005-2006 benefits cycles. The analysis compared national employer trends against results from One Care Street customers. According to the 2006 Kaiser Family Foundation’s Employer Health Benefits study, employers averaged a 7.7 percent annual healthcare cost increase from 2005 to the 2006 benefit year. In contrast, One Care Street customers saved an average of $506 per insured per year and experienced an average $8 reduction in trended healthcare costs for every $1 they spent on the One Care Street system. All 10 clients also realized improvements in total population health outcomes, such as levels of physical and emotional symptoms, functional ability, health behavior change and productivity. The One Care Street system combines predictive modeling science and health coaching support to identify people who are likely to use large amounts of costly healthcare services before they need such services over the coming 6-12 month period. This approach is in stark contrast to disease management, which relies on past healthcare usage to find those that will use large amounts of healthcare services. Research has demonstrated that the standard disease management approach is accurate in identifying only 10-15 percent of the people who will actually use large amounts of healthcare services, as compared to the 63-67 percent of high utilizers reliably identified by One Care Street. “We expected One Care Street to reduce costs or slow cost increases, but these results are monumental when you realize how long the industry has been struggling to reverse the upward cost trend,” said Julie A. Meek, chief operating officer and executive vice president of CareGuide. www.careguide.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. The Hartford Unveils Go-To Guide For America’s Business Owners: How To Use Key Advisors To Help Protect The Enterprise, Grow Its Assets And Plan For The Future ‘Business Owner’s Playbook’ Addresses Critical Business and Personal Financial Issues Faced During Start-Up, Growth and Transition. HARTFORD, Conn.--(BUSINESS WIRE)--Owning a business is a cornerstone of the American Dream, and often an all-consuming one. In the feverish effort to start, manage and expand an enterprise, an owner risks missing the other elements of the success story. Two-thirds of small business owners say their business is their greatest personal asset and primary source of family income, according to a recent survey by The Hartford Financial Services Group, Inc. (NYSE: HIG). But for many, the day-to-day challenges of running their business leave little time to focus on bigger picture issues, such as protecting their company and planning for their future financial security. To help address this need, The Hartford has created the Business Owner’s Playbook: A guide to protecting your business, growing your assets and planning for your future. The Playbook was developed with input from business owners and advisors who typically work with them. It helps address key business and personal finance issues, and identifies the team of advisors – attorneys, accountants, insurance agents, financial professionals and others – to consult based on their particular circumstances. “The nation’s 7+ million small business owners represent a diverse mix of industries but share a common trait – they’re strapped for time and focused on building their businesses,” said Ramani Ayer, The Hartford’s Chairman and CEO. “In creating the Business Owner’s Playbook, The Hartford saw an opportunity, and a need, to help business owners make productive use of the limited time they can devote to issues of business and personal finance. The book lays out the issues and the types of professionals to seek out for more specific guidance, whether to determine the appropriate structure for their company or to plan for their own retirement.” The 40-page user-friendly guide provides practical information on a range of topics that business owners face at different stages of the business life cycle. Organized in sections for emerging, growing and transitioning companies, the guide covers such topics as business structure, finance, compensation, benefits, insurance, retirement and estate planning, as well as a list of resources for additional information. The insights contained in the Playbook will be brought to life at informational seminars for business owners being planned in cities across the country. “A great deal of thought went into the development of the Business Owner’s Playbook to make it useful for business owners. Early feedback has validated the need for this type of resource, and we are pleased to make it available to business owners who may benefit from it,” said Ayer. Copies can be ordered or downloaded free of charge at www.thehartford.com/businessowner. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. Retirement Planning: Healthcare Considerations Available Free from the MetLife Mature Market Institute® WESTPORT, Conn.--(BUSINESS WIRE)--For those considering retirement, before or after age 65, there are a number of important healthcare considerations. What happens with your employer health benefits when you retire? If you retire early, will you have health insurance to cover you until age 65 when Medicare takes over? Will you need Medicare supplement insurance to cover any gaps in Medicare coverage after age 65? What healthcare needs might not be covered by Medicare, Medicare supplement insurance or your retiree health insurance? A new publication from the MetLife Mature Market Institute, Retirement Planning: Healthcare Considerations, seeks to answer these questions and more. The guide also points readers to resources for further investigation. The booklet is available free to the public by calling 203-221-6580, via e-mail to maturemarketinstitute@metlife.com, or by download at www.maturemarketinstitute.com under ‘What’s New.’ Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. Delos Insurance Forms Naxos, a New Excess & Surplus Company New Entity Provides Alternative Approach to Customized Coverages and Innovative Underwriting for E&S Marketplace NEW YORK--(BUSINESS WIRE)--Delos Insurance Company, a leader in program business, has created a new excess and surplus (E&S) lines company which will be a wholly-owned subsidiary of Delos. The new entity, Naxos Insurance Company, will add significant value to the company’s current business platform by providing more flexibility, additional capacity and innovative underwriting. Operations at Naxos will be managed under terms of an agreement with Delos. Incorporated and licensed in Delaware, Naxos will immediately move to obtain licenses in several key states with the ultimate goal of obtaining full licensing in all 50 states over the next two years. According to Delos, the rate and form flexibility of the E&S business will allow a more creative and responsive approach to the overall market and will assist in the success of managing their general agents. www.Delosinsurance.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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11. Arch Reinsurance Group Announces Establishment of Arch Re Facultative Underwriters MORRISTOWN, N.J.--(BUSINESS WIRE)--Arch Reinsurance Group is pleased to announce the establishment of a new underwriting subsidiary, Arch Re Facultative Underwriters Inc. The new operation further extends Arch Reinsurance Group’s commitment to the U.S. reinsurance market and will focus on U.S. property facultative business. Steven Franklin will serve as President and Chief Executive Officer of the new subsidiary. Mr. Franklin was formally with the Property Facultative unit of General Re. Arch Re is enthusiastic about the hiring of this outstanding executive with extensive experience in property facultative reinsurance. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. Life Insurance Finance Association Webinar Discusses NAIC Viatical Law Recording of Webinar Available for Purchase ATLANTA--(BUSINESS WIRE)--In response to the National Association of Insurance Commissioners’ (NAIC) decision to re-adopt the changes to the Viatical Settlements Model Act and in anticipation of the upcoming National Conference of Insurance Legislators (NCOIL) meetings, the Life Insurance Finance Association (LIFA) announced its position on the passage and the impact of this model on consumers and the premium-finance business. During a LIFA webinar held Tuesday, April 17, 2007, Scott Cipinko, executive director of the Life Insurance Finance Association, and Brian Casey, partner, Lord Bissell and Brook, spoke on the potential for adoption of the NAIC model act in states, the role of NCOIL, and LIFA’s stance that the passage of this act will impede consumer’s rights and threaten insurance producers and the existence of the premium-finance business. “Our concern is that this act was developed and passed based on an artificial time-table and one-sided information, and the rights of insurance consumers and legitimate life insurance premium-finance businesses were not analyzed or taken into account,” said Cipinko. “The webinar gave us the opportunity to discuss the pros and cons of the passage of the act, and provided the life insurance premium-finance industry and those concerned about the ability of a consumer a real voice. We encourage those who were unable to attend the event to purchase a recording of the webinar and take action to ensure that all involved parties are properly represented.” Cipinko added that the problem is, whether through carelessly overbroad scope or through opportunistic overreaching, the proposed remedies in the act do not impede the sale of stranger-initiated life insurance, but actually facilitate the ability to manufacture these life-insurance transactions while prohibiting or severely limiting legitimate life insurance premium-finance transactions. “The net result will be to the very consumers the regulators and life insurers were trying to protect. Restricting the availability of proper life insurance premium-finance loans does a tremendous disservice to consumers and everyone else involved in the creation and maintenance of this valuable product and life insurance itself,” said Cipniko. NCOIL will be meeting again this Saturday in Washington, D.C. and over the next few months. The NAIC action was taken prior to the meeting and despite an NCOIL resolution urging the NAIC not to accept the proposal until NCOIL as policymakers have an opportunity to fully review all the issues in connection with these markets. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. Financial services firms chide Bush on WTO talks Mon Apr 16, 2007 4:19PM EDT By Doug Palmer WASHINGTON (Reuters) - Big banks, insurance companies and brokerage firms complained to U.S. President George W. Bush on Monday that they are not getting the attention they should in world trade talks and other negotiations. "We understand that the administration and Congress must take into account the interests and objectives of all sectors of the U.S. economy in a way that is most beneficial to the nation as a whole. We are concerned, however, that the financial services sector is not receiving the attention it deserves based on its contribution to the national economy," company leaders said in a letter to Bush. "We respectfully urge the administration to make the expansion of market access for financial services firms a first-tier priority in all trade negotiations -- both bilateral and multinational efforts -- especially the Doha Round." The letter was signed by chief executives of the 20 member companies of the Financial Services Forum, which includes Citigroup, Goldman Sachs, Bank of America, Deutsche Bank, AIG, Allstate, Merrill Lynch, Lehman Brothers, General Electric, Fidelity Investment and others. It comes two days after World Trade Organization Director-General Pascal Lamy warned a meeting of the International Monetary Fund and the World Bank that the Doha round of world trade talks could face "the unpleasant reality of failure" unless there is a breakthrough soon. 'REAL LIBERALIZATION' Gretchen Hamel, a spokeswoman for the U.S. Trade Representative's office, defended the administration's handling of financial services issues in trade negotiations, including a free trade agreement reached this month with South Korea. "The U.S. has consistently stressed in Doha negotiations that real liberalization of financial services will be necessary to win U.S. support, and in the Korea FTA we brought home probably the strongest set of financial services commitments ever achieved," Hamel said. The financial services chiefs tiptoed around the most sensitive issue for the United States in the world trade talks -- whether the Bush administration should lessen its demands for new agricultural market access in exchange for cutting U.S. trade-distorting farm subsidies. However, they noted the financial services industry accounts "for more than five percent of all American jobs and more than $1 trillion, or eight percent, of U.S. economic output -- two-thirds of the combined value of all types of manufacturing and eight times greater than total U.S. agricultural output." The U.S. government's complaint that other countries have not offered deep enough farm tariff cuts is one of the biggest factors blocking a world trade deal after five years of talks. The agriculture impasse has stunted market-opening negotiations on manufacturing and services because many developing countries want a breakthrough in farm trade before moving onto other areas of the WTO talks. The executives urged Bush "to make every effort" to persuade developing countries, particularly large emerging-market countries, to reduce or eliminate barriers to foreign financial services companies as part of a WTO deal. That would benefit both the United States and the developing countries because of the important role that services can play in development, the executives said. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. ACE USA Launches Podcast to Address Risk Management Considerations for Managing Global Business Risk in the Evolving Logistics Industry PHILADELPHIA--(BUSINESS WIRE)--ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, today announced that it has launched an audio podcast, or Internet-distributed program, on “Managing Global Business Risk in an Evolving Logistics Industry,” based on a white paper written by Stephen Connor, Vice President, ACE USA Logistics Industry Practice, that is set to be published in the spring issue of The John Liner Review. Mr. Connor will present the white paper findings during the upcoming Risk and Insurance Management Society’s (RIMS) annual industry conference to be held in New Orleans, April 29 – May 3, 2007. The podcast provides corporate risk managers and logistics industry professionals with thought leadership and insight into the increasing complexity facing today’s third-party logistics providers (3PLs) and the opportunities and resulting exposures inherent in being a 3PL in the evolving global marketplace. “The international logistics market is growing more rapidly and generating more revenue than in the U.S. logistics market, and in response, more 3PLs are broadening their global capabilities,” said Mr. Connor. “As 3PLs increase the value they offer clients by establishing one-stop shops, growing overseas, and becoming more closely integrated into their clients’ business processes, they assume never-before-encountered risks.” The podcast, one of an occasional series of audio podcasts that ACE USA has launched on selected risk management topics, provides an informative overview of the third-party logistics industry and steps risk managers can take to design insurance programs that minimize risk, curb losses and protect the bottom line. To access the ACE Professional Risk podcast audio program featuring Mr. Connor’s discussion of managing global business risk in the logistics industry, please visit www.ace-ina.com/podcasts. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. In Sickness and in Health (Among Other Things), Travelers of New Jersey Launches Wedding Insurance No-deductible policy covers cancellation or postponement caused by severe weather, lost deposits, military deployment, and more PARSIPPANY, N.J.--(BUSINESS WIRE)--More than 50,000 weddings take place each year in New Jersey, with the average cost now reaching $35,900 -- $8,900 above the national average.* Recognizing that the “big day” comes with a mighty financial commitment, Travelers of New Jersey announced today the launch of the Wedding Protector Plan, an insurance policy covering weddings. Travelers began the national rollout of the Wedding Protector Plan on February 14 in honor of Valentine's Day, one of the most popular days to get engaged. So far, the company has made this product available in 44 states. “A wedding is a large investment both emotionally and financially,” said Alan Tuvin, vice president of product management for Travelers. “There are a lot of moving parts to a wedding and things can go wrong. It is important to protect such a significant financial investment.” www.AgentProtectMyWedding.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. Corporate Insight: Mutual Fund Firms Fall Short in Providing Financial Advisors with Resources to Address the Unique Needs of Female Investors NEW YORK, N.Y.--(BUSINESS WIRE)--Corporate Insight, a leader in researching and benchmarking the customer experience at financial services firms, recently examined web-available resources to help advisors address the unique needs of female investors. With increases in divorce rates and the difference between average death ages for men and women, fiscal responsibility has become as much an imperative task for women as it has for men. Some experts suggest 80-90% of women will manage their own finances at some point in their lives. Despite this rapidly growing market segment, mutual fund firms don’t seem to be responding to this expanding opportunity with education, tools, and materials specifically intended for female clients. www.corporateinsight.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. Darwin Professional Underwriters Transitions to the Big Board FARMINGTON, Conn., April 18 /PRNewswire-FirstCall/ -- Darwin Professional Underwriters, Inc. ("Darwin") (NYSE: DR) today makes a historic move to the New York Stock Exchange ("NYSE") and celebrates as the first company to list with NYSE Arca and transition to the "Big Board." Darwin's ticker symbol, DR, remains unchanged. Darwin listed with NYSE Arca upon its initial public offering on May 19, 2006. In less than one year, the company has grown to meet the full listing requirements of the NYSE. Members of Darwin's senior executive team and board of directors will be visiting the NYSE today to ring the opening bell. www.darwinpro.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. Nationwide Risk Consulting and Subrogation Partners Announce Their Joint Venture on Cost-Saving Services for the Self-Insured Market NEW YORK--(BUSINESS WIRE)--Nationwide Risk Consulting, Inc., a premiere insurance consulting firm and Subrogation Partners, LLC, the leading U.S. claims subrogation specialist for P&C carriers, self-insureds and state and local governments, have partnered together to provide claim cost reduction services to self-insured markets in the insurance industry. “Through Nationwide Risks’ network of more than 300 brokers across the United States, Subrogation Partners and Nationwide Risk will have the ability to reach companies who have self-insured clients for one or more of their insurance needs,” stated Edward J. Kelly, Jr., Chief Executive Officer of Nationwide Risk Consulting. “This partnership,” Kelly continued, “will allow our broker market and their clients to take advantage of claim recovery programs offered by Subrogation Partners.” Nationwide Risk Consulting, Inc. markets premium recovery and other cost-containment services to thousands of companies across the nation resulting in the recovery of millions of dollars in overpayments to insurance carriers. For more information on Nationwide Risk Consulting, its Working Partners program, or any of the services they provide, Contact Brian Kelly at Nationwide Risk, 631-580-4202, Ext. 136 (bkelly@nationwideriskconsulting.com). To inquire about subrogation programs, contact Scott Conant, President of Subrogation Partners at 1-866-847-9692 (sconant@subropartners.com). Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Marsh, RTI International to Offer Real Estate Portfolio Management & Decision Support Service New Service Allows Firms to Assess and Manage Real Estate Holdings, Develop Divestiture Strategies for Surplus Properties and Brownfields NEW YORK--(BUSINESS WIRE)--Marsh Inc., the world’s leading risk and insurance services firm, and RTI International today launched a new service designed to help public and private corporations better manage their real estate portfolios, optimize holdings, and develop divestiture strategies for surplus properties, including environmentally stressed properties or “brownfields.” The service is backed by an innovative software application known as SBS DiscoverySM that uses complex models to assess the potential value of impaired property holdings relative to their remediation costs. “As a result of Sarbanes-Oxley compliance requirements and FASB 143/FIN 47 regulations, many companies today face significant challenges in assessing and managing their real estate holdings as liabilities,” said Glenn Osmond, business development director for RTI’s SBS Discovery. “This new service and its supporting technology allow corporations to take a more proactive approach toward the management of their real estate holdings, including surplus properties.” Marsh and RTI International will be featuring this new service during the upcoming annual conference and exhibition of the Risk & Insurance Management Society (RIMS), April 29 – May 3, in New Orleans. Visit location #600 in the exhibit hall at the Ernest N. Morial Convention Center. www.marsh.com www.rti.org 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. AutoMart-China Adds to its Core Insurance-Driven Repair Business with New Insurance Contracts and 4 More Insurance Evaluation Centers Beijing Company also Named to ‘Top 10 in Auto Industry’ by Independent Survey BEIJING & FORT MYERS, Fla.--(BUSINESS WIRE)--AutoMart-China (www.AutoMart-China.com), the largest independent auto aftermarket company in Beijing and a 95% owned subsidiary of Deep Field Technologies, Inc. (OTC BB: DPFD), announced today that it has signed contracts with two more insurance companies and added four new insurance evaluation centers co-located at its facilities. AutoMart said it signed contracts with Bohai Property Insurance Co., Ltd., and Tian’an Insurance Co., Ltd., the eighth and ninth companies with whom it has agreements, to provide damage evaluation and make coverage decisions at the its maintenance and repair centers, where the repairs will be completed. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. Guidewire Receives “Strong Positive” Rating in Leading Analyst Firm’s Report on P&C Insurance Claims Systems “Strong Positive”, the highest possible rating, is based on market understanding, product strategy and capabilities, overall viability, and customer experience SAN MATEO, Calif.--(BUSINESS WIRE)--Guidewire Software®, a leading provider of technology solutions to property and casualty and workers’ compensation insurers, today announced that it has received a rating of “Strong Positive”, the highest possible rating in Gartner’s recently published “MarketScope: North American Property and Casualty Insurance Claims Administration Systems, 2007”i. Guidewire was one of six vendors evaluated for the report. Gartner's MarketScope provides a comparative evaluation of property & casualty claims management software vendors based on the following criteria: market understanding, product strategy, product capabilities, overall viability and customer experience. The report stated, "Many Tier 1 and Tier 2 P&C insurers in North America are aggressively replacing their legacy claims administration systems." A complimentary copy of the report can be viewed at www.guidewire.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Screen Actors Guild – Producers Pension & Health Plans Selects Zix Corporation for Email Encryption Service SAG’s Pension and Health Organization Signs Three-Year Agreement with ZixCorp DALLAS--(BUSINESS WIRE)--Zix Corporation (ZixCorp®), (Nasdaq:ZIXI), the leader in hosted services for email encryption and e-prescribing, today announced the Screen Actors Guild – Producers Pension and Health Plans (SAGPH), has signed a three-year contract for the Company’s Email Encryption Service. ZixCorp will enforce the SAGPH email security policies to ensure secure handling of confidential medical information for its members. The service includes a pre-configured lexicon that automatically detects and encrypts protected health information (PHI). SAGPH will use the company’s email encryption gateway in addition to ZixDirectTM, which uses clientless “push” technology that sends encrypted messages directly to the recipient’s inbox. ZixDirect is ideal for SAGPH when sending secure email to members or business partners that don’t have encryption capabilities. www.zixcorp.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Guardian Expands Medical Plan Discounts For Yoga, Pilates, Massage Therapy, Ayurvedic and Other Alternative Procedures Complementary Alternative Medicine program provides up to 30 percent off services and treatment at over 36,000 alternative medicine providers for more than 38 disciplines NEW YORK, April 18 /PRNewswire/ -- The Guardian Life Insurance Company of America (Guardian), a leading provider of employee and voluntary benefits to small and mid-sized companies, today announced that its group medical plan members now have greater access to discounts on alternative medical treatments in 38 disciplines including yoga, Pilates, personal training, massage/bodywork, nutritional counseling, acupuncture, chiropractic care, homeopathy, hypnotherapy, qi gong, tai chi and holistic medicine. Guardian's Complementary Alternative Medicine (CAM) discount program provides up to 30 percent off the cost of services and treatment at over 36,000 providers. This program is an expansion of Guardian's alternative medical benefits. Many Guardian medical plans already offered coverage for alternative medicine procedures, but clients now have more discipline choices, locations and providers. "Alternative medicine, once considered fringe is now firmly part of the mainstream," said Tim Bireley, vice president, Group Medical, Guardian. "We live in a global, increasingly diverse society where people are exposed to different methods of managing their health and wellness. Clients value the opportunity to complement and enhance their traditional medical treatments with alternative procedures." The Complementary Alternative Medicine program was developed in conjunction with Whole Health Networks. Guardian medical plan members are able to access information about the practitioner network through the Guardian Anytime website: (http://www.GuardianAnytime.com). Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. Washington Governor Should Veto Legislation Designed To Increase Lawsuits Needless Measure Will Put Washington Out of Step with Nation and Raise Insurance Costs Olympia, WA, April 17, 2007 – Washington Governor Christine Gregoire (D) should veto needless legislation designed to increase lawsuits, urged three insurance industry advocacy trade associations. The trades emphasized that SB 5726 is totally contrary to one of Gov. Gregoire’s stated priorities to improve Washington’s business climate. The American Insurance Association (AIA), the National Association of Mutual Insurance Companies (NAMIC), and the Property Casualty Insurers Association of America (PCI) are urging Gov. Gregoire to veto SB 5726. This trial lawyer sponsored measure would allow damages, costs and attorneys fees, and authorizes the granting of treble damages. These same remedies would be applicable to unfair claims practice violations under the Washington Administrative Code. “SB 5726 is a solution in search of a problem. There is zero evidence that this legislation is needed in the state of Washington,” said Kenton Brine, PCI NW Regional Manager. “The Department of Insurance has no data indicating that Washington policyholders are being treated unfairly. In fact, statistics from the recent December windstorms demonstrate that 80 percent of the 42,500 claims filed were settled within 90 days resulting in more than $170 million being paid to policyholders, while only 3 consumer complaint files were opened by the Insurance Commissioner’s office.” Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. Lemac Offering New Preferred Small Law Firm Program Los Angeles, Calif.…Lemac & Associates has just added a new professional liability program for law firms. Target market is firms with one to 10 lawyers. About the Small Law Firm Program This is a new program from Lemac. Coverage is available in all states, most on an admitted basis. Coverage includes full prior acts and personal injury. Limits range from $500,000 up to $2,000,000. Deductibles start as low as $5,000. A program specific application is required which is available on line at www.lemacassociates.com. Twenty-four hours or less turnaround is possible if requested. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. RediClinic to Offer CIGNA Healthcare Members Choice and Convenience at Local Retail Outlets BLOOMFIELD, Conn., April 17, 2007 /PRNewswire-FirstCall/ -- Treatment for common ailments is about to get easier for CIGNA HealthCare members: beginning today, members who develop routine ailments such as strep throat or pink eye will be able to access care at RediClinics located in convenient retail outlets, including H-E-B, Walgreens, and Wal-Mart stores. RediClinic operates today in Atlanta, Georgia; Northwest Arkansas; Richmond, Virginia; Tulsa, Oklahoma; and Texas markets including Houston, San Antonio, and Austin. "Today's health care consumer has an increasingly hectic schedule. RediClinic offers a convenient, quick-paced, and cost-efficient alternative to consumers for the treatment of minor ailments by a certified nurse practitioner," said Dr. Allen Woolf, a pediatrician and national medical executive for CIGNA HealthCare. www.cigna.com www.rediclinic.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 29. New Research Fuels Need for Employers to Communicate Value of Benefits Plans, Says TotalRewards Software Survey finds that workers regard health benefits as more important than ever; employers urged to effectively communicate total compensation packages Rocklin, Calif. / April 17, 2007 – Total compensation statements carry more value than ever among employers, according to a new survey just released by the National Business Group on Health, a non-profit association of 266 large U.S. companies. In a survey of over 1,600 employees at large U.S. companies, more than 80 percent of employees said they valued their health benefits above anything else in their compensation packages, including salaries. In the survey, about three in four employees said they would rather get health benefits through their employer, rather than additional salary to purchase their own. TotalRewards Software officials say the findings show the need for employers to adapt total compensation statements and step up communications. Media Contact:Ray O’Donnell, Total Rewards Software, (916) 632-1000 x202 Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 30. NAMIC Applauds NCOIL for Cautioning Congress on McCarran-Ferguson Repeal INDIANAPOLIS (April 17, 2007) — The National Association of Mutual Insurance Companies (NAMIC) today praised the National Conference of Insurance Legislators for warning Congress of the potentially devastating consequences of repealing the limited antitrust exemption enacted by the McCarran-Ferguson Act. In a letter sent to key members of the House and Senate, NCOIL cautioned that legislation to repeal the Act could lead to less affordable and available insurance for consumers. “We commend NCOIL for taking this positive action on this issue,” said Neil Alldredge, NAMIC’s vice president for state and regulatory affairs. “Such a proactive effort is an example of reasonable thinking rather than a knee-jerk reaction by those who seek to punish the insurance industry. NCOIL correctly understands the grave, unintended consequences that would befall insurance consumers as well as the insurance industry by this misguided legislation.” www.namic.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 31. NAIC Presents Insure U To U.S. Treasury NAIC President–Elect Sandy Praeger Highlights Consumer Protection and Insurance at Financial Literacy Conference WASHINGTON, D.C. (April 17, 2007) — On behalf of the National Association of Insurance Commissioners (NAIC), Association President–Elect and Kansas Insurance Commissioner Sandy Praeger participated in the inaugural meeting of the National Financial Education Network today at the U.S. Department of the Treasury. The conference, entitled Taking Ownership of the Future: The National Strategy for Financial Literacy, was hosted by the Department of Treasury and the U.S. Office of Personnel Management. Representatives from different areas of government across the nation assembled inside the Cash Room to share ideas and resources, with the goal of creating an open dialogue among associations, government officials and individuals to advance financial education at the state and local levels. www.naic.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 32. FOCUS 2007 to Focus on Improved Case Management and Underwriting FOCUS, the National Association of Independent Life Brokerage Agencies’ (NAILBA) annual spring meeting, is scheduled for June 7-8 at the Westin Kierland Resort in Scottsdale, Arizona. Reformatted this year, FOCUS 2007 will offer two separate tracks of education for two distinct levels of training. The first track is designed for agency principals and will include sessions on Best Practices: Underwriting and Case Management Development and Balancing Underwriting and Reinsurance.The second track targets agency staff and will include sessions on Interpreting and Summarizing Medical Records and Effective Communications. A joint session, Maximizing BGA Productivity, will be also presented in addition to the exciting exhibit hall and networking opportunities that have come to be expected from FOCUS. To view the most current schedule of events, find out who is exhibiting, reserve a hotel room, or register for the event, please visit www.nailba.org/meetings/focus.html. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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