Daily Quote: "Money will buy a pretty good dog but it won't buy the wag of his tail." - - Henry Wheeler Shaw
Colonial Life & Accident Insurance Company has openings for five Senior Sales Trainers that will begin on June 1. These are full time positions with primary responsibilities to include the rollout of new products and marketing programs to our independent contractor sales organization. We are seeking one individual for each of the following Regions: Northeast, Southeast, Southwest, Midwest, and West. The ideal candidate will be a dynamic classroom instructor who possesses the following:
The ideal candidate will also:
Colonial offers:
If you or someone you know would be a strong candidate for one of these positions, please contact: Jim Dreiling at 803-213-5402 or send a resume to jadreiling@coloniallife.com. For further information about Colonial, log on to www.coloniallife.com. Colonial Supplemental Insurance - for what happens next Colonial Supplemental Insurance is the marketing brand of Colonial Life and Accident Insurance Company. Colonial is an equal opportunity employer. 1. Nationwide to reopen 500 Katrina cases NEW YORK, April 20 (Reuters) - Nationwide Mutual Insurance Co. agreed to reevaluate Hurricane Katrina claims related to Mississippi homes that were completely destroyed by the 2005 storm, the insurer said on Friday. The move to reevaluate the so-called "slab cases" should result in more payments for wind-related damage on a significant number of claims along the Gulf Coast of Mississippi, the Mississippi Insurance Commissioner's office said. "This voluntary offer is an attempt to resolve some of the most difficult-to-adjust claims by proposing a reasonable payment to impacted policyholders rather than investing time and money on less effective options," said Nationwide spokesman Joe Case. Nationwide is the fourth-largest home insurer in the United States, according to A.M. Best Co. It is the parent of Nationwide Financial Services, Inc. (NFS.N: ) Case said about 500 claims, most of them slab cases, would be notified by mail of Nationwide's latest offer. Many homes close to the coast are built on concrete slabs, and after Katrina the slabs were the only things remaining. The move follows a similar agreement in March between State Farm Mutual, the nation's largest home insurer, and Mississippi Commissioner George Dale that is expected to resolve a contentious dispute with over 1,000 state homeowners. Dale will act as a mediator for a renegotiation of the claims by state residents who believe that wind - which is covered by private insurance - destroyed their homes. Flood damage is generally excluded from private insurance contracts. If residents are not happy with the proposed settlements with State Farm and Nationwide, they can still seek mediation, arbitration or sue the insurers, according to both agreements. State Farm said it has also asked Louisiana Insurance Commissioner Jim Donelon to consider a similar resolution in 400 disputes involving slab cases in that state. INSURERS SEEK TO AVOID COURT Insurers are trying to avoid additional court cases. Allstate Corp. (ALL.N: ) recently lost a federal court case in Louisiana where a New Orleans man was awarded $2.8 million for damages to his home, including a $1.5 million penalty for the insurer's failure to pay the claim quickly. Case said Nationwide had 20,000 claims filed after Hurricane Katrina, the most expensive storm in U.S. history, hit Mississippi in August 2005. More than 99 percent have been resolved at this point, he said. Nationwide has so far paid out $270 million in Mississippi due to Hurricane Katrina, the insurance department said. All told, Katrina caused more than $41 billion of insured losses, mostly in Louisiana and Mississippi. ((Reporting by Paritosh Bansal and Ed Leefeldt, editing by Dave Zimmerman; 646-223-6000 (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Cover the Uninsured Week Kicks Off Nationwide, Focuses on Enrolling Kids in Coverage Programs Campaign turns America's attention to 45 million uninsured Americans, including 9 million uninsured kids WASHINGTON, April 23 /PRNewswire-USNewswire/ -- Cover the Uninsured Week, a nonpartisan campaign organized by the Robert Wood Johnson Foundation (RWJF) to advocate for health coverage for all Americans, kicks off today with events across the country. Now in its fifth year, Cover the Uninsured Week (April 23- 29) has become the largest, nonpartisan mobilization in history seeking solutions for the nearly 45 million Americans who are uninsured. This year, Cover the Uninsured Week comes at a critical time, with Congress working to reauthorize the State Children's Health Insurance Program (SCHIP). Enacted in 1997, SCHIP provides each state with federal funds for a health insurance program for vulnerable children. Organizers of the Week say that if America's leaders fail to renew and sufficiently fund SCHIP, millions of children who desperately need health insurance will remain uninsured and without adequate health care. "Covering kids is a critical step toward covering all Americans. That's why events are being held to highlight the success of children's coverage programs and stress the need for these programs to be fully funded," said Risa Lavizzo-Mourey, M.D., M.B.A., president and CEO of the Robert Wood Johnson Foundation. "For five years, volunteers have responded to Cover the Uninsured Week by helping to enroll eligible children in SCHIP, administering preventive care and providing assistance to businesses that want to help workers cover their families. At the same time, we have raised awareness among millions of people who were unaware of the extent and depth of this crisis. Solving it is now near the top of the political agenda for our elected leaders and presidential candidates, and that's right where it belongs." According to the U.S. Census Bureau, nearly 45 million Americans have no health insurance, including roughly 9 million children. "The relationship between insurance coverage and good health cannot be overstated," said Lavizzo-Mourey. "We know that children who have health insurance are far more likely than uninsured children to see a doctor when they are sick and get the check-ups, prescription medicines and immunizations that they require to stay healthy and thrive. That's an important investment in our nation's future. Congress must provide the funds needed to maintain SCHIP coverage for all currently enrolled kids and the millions more who are eligible, but remain unenrolled." Thousands of people will participate April 23-29 in hundreds of Cover the Uninsured Week community service and education events held in every state. Planned activities include SCHIP enrollment events, seminars for business owners, town hall discussions, campus activities and faith-based events. Now in its fifth year, Cover the Uninsured Week brings together business owners, union members, educators, students, patients, physicians, nurses, faith leaders and their congregants, and organizations in all 50 states and the District of Columbia to demand that our nation's leaders find solutions for the nearly 45 million Americans living without health insurance, and especially the almost 9 million children without insurance. In addition to the Robert Wood Johnson Foundation, organizations sponsoring Cover the Uninsured Week include the U.S. Chamber of Commerce, AFL- CIO, Healthcare Leadership Council, AARP, United Way of America, American Medical Association, National Medical Association, American Nurses Association, Families USA, Blue Cross and Blue Shield Association, America's Health Insurance Plans, American Hospital Association, Federation of American Hospitals, Catholic Health Association of the United States, Service Employees International Union, National Alliance for Hispanic Health, The California Endowment and W.K. Kellogg Foundation. To locate events being held across America, discover ways to get involved, learn more about SCHIP or read about the issue, log on to http://www.CoverTheUninsured.org. The Robert Wood Johnson Foundation focuses on the pressing health and health care issues facing our country. As the nation's largest philanthropy devoted exclusively to improving the health and health care of all Americans, the Foundation works with a diverse group of organizations and individuals to identify solutions and achieve comprehensive, meaningful and timely change. For more than 30 years the Foundation has brought experience, commitment, and a rigorous, balanced approach to the problems that affect the health and health care of those it serves. When it comes to helping Americans lead healthier lives and get the care they need, the Foundation expects to make a difference in your lifetime. For more information, visit http://www.rwjf.org. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Cochran Caronia Waller Issues 'Broker Deals: Potential Buyout Premiums' CHICAGO, April 20 /PRNewswire/ -- Cochran Caronia Waller recently issued a research report titled "Broker Deals: Potential Buyout Premiums". Our findings and investment conclusions are summarized below. The Insurance Broker segment should continue to see a high level of buyout activity. The main driver will likely be increased interest from the private equity community. To date, current shareholders have reaped huge gains (40% plus) from the recent buyouts (Hub and USI). The major question is can future buyouts provide similar levels of return to the shareholders? This report contains a simplified LBO analysis that demonstrates potential premiums from current share prices for all of the public insurance brokers and resulting returns for financial buyers. Our conclusion is that premiums are still possible, but at lower levels compared to the previous deals. On average, financial buyers could still attain adequate returns by paying a 10% premium to current share prices. However, ultimate rates of return fall below acceptable levels when the premium goes to 30%. Based on this analysis, AOC and HRH have the largest cushion for a potential buyer and, therefore, could attract the highest premiums. Conversely, MMC and AJG have the least. As a note of caution, the analysis uses static assumptions on debt leverage, EBITDA growth and cash out values. Changing these assumptions for a specific broker would obviously produce very different outcomes. Also, in the case of NFP, the operating and ownership structure differs from traditional P&C brokers, which adds some complexity to a private buyout, but we still view it as feasible. Overall, the analysis shows that a portion of the buyout premium is already built into these stocks. This is supported by the fact that broker shares have been rising despite a softening property and casualty market. Investors, therefore, should be selective given that upside from future buyouts may not approach the previous deals. In addition, if deals do not materialize, downside is possible. NFP is our top pick in the group based on strong growth fundamentals. While we have Market Perform ratings on AOC and HRH, these stocks are interesting as buyout plays. To view this report please click on the link below. If you have any trouble viewing the document, please contact tgosnell@ccwco.com http://www.ccwco.com/public_docs/Public_Docs_070420.pdf Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. BestWeek: Negligence Central to Claims From Virginia Tech Shooting OLDWICK, N.J.--(BUSINESS WIRE)--Potential liability claims arising from the massacre at Virginia Tech University will hinge on whether or not school authorities were negligent in responding to the April 16 campus shooting or had adequate emergency management plans in place to prevent it, according to an exclusive story in this week’s BestWeek. The deadliest shooting in U.S. history will very likely change the way university risk managers operate. Unlike the terrorist attack of September 11, 2001, experts said, it is unlikely it will have an immediate impact on the university insurance market, although some fear copycat events could have an impact. Also in BestWeek: -- As risk grows more complex, insurers and reinsurers are showing an increasing willingness to tap into the skills of academia in order to improve their underwriting. The Lighthill Risk Network hopes to build on that appetite. -- New Jersey is ranked as being the most vulnerable to insured losses per 1,000 square miles from a twister, according to an A.M. Best Co. special report entitled “2007 U.S Tornadoes, Toto...We’re Not In New Jersey Anymore.” -- Best’s Global Insurance Composite Index finished the week of April 19 up 15.39% from a year ago. The composite index reflects the performance of 182 insurance stocks. The week’s top performers were Commerce Group, Atlantic American Corp., Meadowbrook Insurance Group, Cincinnati Financial Corp., and Marsh & McLennan Cos. The bottom five performers were China Insurance International Holdings, Korean Reinsurance Co., Novae Group, Jardine Lloyd Thompson Group, and Mitsui Sumitomo Insurance Co. www.ambest.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. A.M. Best Methodology: Liquidity Model for U.S. Life Insurers OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has developed a new rating tool to enhance its review of liquidity for U.S. domiciled life insurance companies. The methodology document, titled “A.M. Best’s Liquidity Model for U.S. Life Insurers,” is now available in the “Rating Methodology” section of A.M. Best’s website. (Please visit www.ambest.com/ratings/methodology to download a PDF copy of the document.) Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
Key Benefit Resources: (877) 907-5511, sbell@keybenefitresources.com, www.keybenefitresources.com 6. Barclays agrees $91 bln ABN buy Mon Apr 23, 2007 10:52AM EDT By Steve Slater and Reed Stevenson LONDON/AMSTERDAM (Reuters) - British bank Barclays Plc (BARC.L: ) has agreed to buy Dutch rival ABN AMRO (AAH.AS: ) for about 67 billion euros ($91 billion) in shares as it attempts to fight off rivals to clinch the world's biggest bank takeover. ABN managed to extract a high price for its shares, reflected in the 33 percent premium it gained since talks began a month ago, in part from the threat of a counter-offer from the Royal Bank of Scotland (RBS.L: ), backed by Spain's Santander (SAN.MC: ) and Dutch-Belgian group Fortis (FOR.BR: ). (Additional reporting by Clara Ferreira-Marques and Mark Potter i'n London) © Reuters 2007. All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. Bank of America to buy LaSalle for $21 bln Mon Apr 23, 2007 9:22AM EDT By Jonathan Stempel NEW YORK (Reuters) - Bank of America Corp. (BAC.N: ) agreed to pay $21 billion for ABN Amro Holding NV's (AAH.AS: ) LaSalle Bank Corp. unit, filling a big hole in its nationwide branch network by becoming Chicago's largest bank, and also becoming the biggest bank in slower-growing Michigan. The all-cash purchase will give Bank of America, the second-largest U.S. bank, 141 new branches in the Chicago area, 264 in Michigan and six in Indiana, as well as about 1,500 automated teller machines and about $113 billion of assets. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. Health drives quarter's rise in venture funding Mon Apr 23, 2007 12:32AM EDT By Eric Auchard SAN FRANCISCO (Reuters) - U.S. venture capital financing rose 8 percent to $7 billion during the first quarter, amid record funding for health care companies, a survey to be published on Monday shows. But two-thirds of traditional venture capital (VC) categories saw reduced investment, year-over-year, according to the Dow Jones VentureOne and Ernst & Young report, reflecting a weak market for initial offerings, the classic VC exit route. The $2.88 billion invested in health care companies in the first quarter was the highest on record, tied to a healthy market for both IPOs and merger and acquisition activity that is less evident in weaker sectors of the market. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. Foreign banks offer tea, insurance to lure Chinese By George Chen SHANGHAI, April 23 (Reuters) - For those Chinese rich enough to open an 80,000 yuan ($10,350) account, Citigroup Inc. (C.N: ) and Standard Chartered (STAN.L: )(2888.HK: ) are now promising an alternative to the long queues at China's big state lenders. The two foreign banks, along with HSBC Holdings Plc. (HSBA.L: ) (0005.HK: ) and Bank of East Asia (0023.HK: ), also hope that free tea, an array of insurance and other products, and a focus on wealthy clients will help them to carve out a lucrative retail banking niche in the world's fourth-largest economy. Partnerships with insurers to sell products at bank counters will also be part of the initial strategy to attract retail customers, senior executives at the four foreign banks said. Standard Chartered has agreed to team up with British insurer Prudential Plc. (PRU.L: ) and Germany's Allianz AG (ALVG.DE: ), and expects to sell yuan-denominated insurance products to Chinese clients from next month, said Mike DeNoma, visiting group executive director for consumer banking of Standard Chartered. Last week, Citigroup said it was cooperating with top U.S. life insurer MetLife (MET.N: ) on the sale of an investment-linked insurance products through Citigroup's network in China. ($1=7.726 Yuan) © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. China Life suspended after report on parent listing HONG KONG, April 23 (Reuters) - Trading in shares of China Life Insurance Co. Ltd. (2628.HK: ), the country's top life insurer, was suspended on Monday after a newspaper report that its state-owned parent was considering an overall listing. The Hong Kong-listed stock was suspended on Monday morning pending an announcement on price sensitive information, the Hong Kong exchange said. Its Shanghai-listed local currency A shares were also suspended (Additional reporting by Eadie Chen in Beijing) Reporting by Kennix Chim and Jimmy Tsim, editing by Anne Marie Roantree (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
The SOCIETY OF
INSURANCE RESEARCH
Discover ways to extract maximum competitive
advantage from your internal data & processes, advertising & promotion;
and distribution strategy. The SOCIETY OF
INSURANCE RESEARCH is where to meet the practitioners whose
research & analysis shapes insurers' decisions about
underwriting,
product,
marketing, &
distribution.
Events sponsored by the Society of Insurance Research are the premier forum addressing how current and emerging trends might impact the insurance industry, and providing practical techniques you can use in your job. In addition to the relevant, immediate content of the daily sessions, excellent networking opportunities abound at the provided lunches and the evening receptions. If you are involved in any way with strategy, research, planning, or the design and development of insurance products or services, you will not want to miss the Society’s Spring Workshops. Executive Director: Ed Budd, Phone (317) 398-3684, email: sir.mail@comcast.net website: www.sirnet.org. 11. UnitedHealth Group Analysis Confirms Chronically Ill Continue Receiving Needed Care When Enrolled in a Consumer-Driven Health Plan Higher rates of compliance with evidence-based care standards shows CDH plans are helping create a much better informed health care consumer CDH members, regardless of income level, receive preventive care at equivalent or higher levels MINNEAPOLIS--(BUSINESS WIRE)--Individuals enrolled in a consumer-driven health (CDH) plan receive needed care at rates equivalent to, or in many cases higher than, members of traditional plans, according to data released today by UnitedHealth Group (NYSE:UNH). This new data illustrates how these plans are creating much more informed health care consumers who are better able to understand and navigate through important health decisions. It also helps alleviate concerns over whether consumer-driven plans will induce the chronically ill to forgo necessary treatment, or the healthy to avoid preventive care. UnitedHealth Group, through its Definity Health business, analyzed 2004 and 2005 data for 250,000 of its consumer-driven plan members and compared it to an external, national benchmark population of 10 million traditional health plan members. The study examined consumer usage of preventive care services such as cancer screenings and well child care, as well as adherence to evidence-based care among individuals with chronic conditions, including diabetes, asthma, coronary artery disease and congestive heart failure. According to Miles Snowden, M.D., UnitedHealth Group’s senior vice president of Health Advancement Solutions, the analysis confirms that when consumers are given the proper ongoing support and tools to help them understand and navigate important health decisions, they continue to seek needed and appropriate care. Visit the newsroom at www.unitedhealthgroup.com for a study summary, as well as copies of UnitedHealth Group’s previously published studies on consumer-driven health plans. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. 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 13. BANK INSURANCE NEWS IN BRIEF - APRIL 23, 2007 TODAY'S BANK INSURANCE NEWS IN BRIEF" is provided each week courtesy of Michael White Associates @ www.bankinsurance.com. To read these stories, visit http://www.bankinsurance.com/editorial/news/default.htm.
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. Navigators Increases Excess Casualty Capacity to $25 Million NEW YORK--(BUSINESS WIRE)--The Navigators Group, Inc. (NASDAQ:NAVG) today announced the expansion of its capacity for United States-based commercial accounts to $25 million for excess liability and umbrella products. Jeff Saunders, President of Navigators’ Excess Casualty Division, stated, “Since the Company launched its commercial excess casualty products several years ago, there has been a growing need for brokers to sell, and policyholders to purchase, greater limits in response to litigation trends. Navigators is pleased to expand our limits offering on some accounts and classes to $25 million. This additional capacity will increase our ability to compete more effectively across a broader range of exposures and attachment points. Our products include commercial umbrella and excess liability and are underwritten by Navigators Insurance Company and Navigators Specialty Insurance Company, which are both rated ‘A’ (Excellent) by A.M. Best.” www.navg.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. AIG Small Business® Introduces AIG Bank Card ProtectorSM for Small, Private Banking & Financial Institutions AIG Bank Card ProtectorSM Addresses Risks Related to Bank Card Fraud Facing Small and Mid-Sized, Privately Held Financial Institutions NEW YORK--(BUSINESS WIRE)--AIG Small Business®, a division of the property-casualty insurance companies of American International Group, Inc. (AIG), today announced AIG Bank Card ProtectorSM, insurance designed to protect small and mid-sized, privately held banks and financial institutions against risks related to the fraudulent use of ATM, credit and debit cards. According to the December 2006 Nilsson Report (Issue 869), credit, debit, prepaid and electronic benefit transfer (EBT) card transactions have increased to 50.98 billion in 2005 from 28.82 billion in 2000. Nilsson expects this trend to continue and predicts 79.31 billion card transactions by 2010. As more people rely on ATM, debit and credit cards to handle their financial transactions, small and mid-sized banks are facing more exposure to bank card fraud. The AIG Bank Card Protector policy covers banks and financial institutions against the principal amount of loss caused by fraudulent use of a bank card, plus extra expense to replace compromised cards. This includes losses sustained by the unauthorized use of a lost, stolen or counterfeit bank card used by identity thieves at an electronic terminal, automated teller machine, cash dispensing machine or, through an internet transaction, regular mail transaction or telephone transaction. For more information on AIG Bank Card Protector and other AIG Small Business products, please visit www.aigsmallbusiness.com, email aigsb@aig.com, or call 1-877-867-3783. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
16. State Farm(R) Lowers Georgia Auto Insurance Rates DULUTH, Ga., April 23 /PRNewswire/ -- State Farm Mutual Automobile Insurance Company, the largest insurer of autos in Georgia and in the nation, is lowering its overall rate level in Georgia an average of 4.0 percent. This change will take effect April 23 for new business and May 23 for renewal business and represents an annual savings of $44.6 million to the company's Georgia customers. After this rate change is implemented, State Farm's overall rate level in Georgia will be 8.3 percent lower than it was 10 years ago. Premiums for the collision and comprehensive coverages are decreasing the most. The comprehensive coverage pays for losses from such perils as theft, storm damage, fire, vandalism and glass breakage. The cost of the liability coverage will go up for some and down for others. The price of the medical payments coverage will increase for most customers. Overall premium changes for individual motorists will vary depending on factors such as the coverages they carry, the discounts for which they qualify, where they live, the kind of car insured, who drives it and how much it is driven. In addition, State Farm recently announced a $62 million dividend in Georgia from which State Farm Mutual auto policyholders in the state will receive 11.2 percent of their semi-annual premium. Dividend payments began in early April and will continue throughout the year. About one in every four cars insured in Georgia is insured by State Farm. www.statefarm.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. OneBeacon Relocates U.S. Headquarters to Canton, Massachusetts HAMILTON, Bermuda, April 23 /PRNewswire-FirstCall/ -- OneBeacon Insurance Group, Ltd. (NYSE: OB) announced that its U.S. headquarters has relocated to Canton, Massachusetts. The 280,000 square-foot facility brings together over 1,000 employees who formerly worked in three distinct Greater Boston locations. OneBeacon's Canton office houses all corporate functions as well as front-line operations for its local commercial lines, personal lines, and certain specialty businesses. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. Express Scripts' Workers’ Compensation Program Increases Use of Generic Drugs ST. LOUIS--(BUSINESS WIRE)--ExpressComp, a workers’ compensation offering by Express Scripts, increases the use of generic medications and reduces clients’ costs. Express Scripts is one of the largest pharmacy benefit managers (PBM) in North America. Express Scripts is a leader in consumer behavioral changes involving the use of generic drugs. Since 2001, generic drug utilization for Express Scripts’ workers’ compensation clients has grown from 52 percent of all prescriptions to a record 66.2 percent. ExpressComp’s Physician Outreach Program (POP) is a clinical-based module designed to encourage physicians and injured workers to consider using generic alternatives when appropriate. www.express-scripts.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Faith Leaders, Health Care CEOs Support Covering Uninsured Children as 'Moral Imperative' at Health Summit Monday, April 23 in Southfield Cover the Uninsured Week kicks off with focus on enrolling Michigan's 160,000 uninsured kids in health care coverage programs SOUTHFIELD, Mich., April 23 /PRNewswire-USNewswire/ -- Religious leaders from Jewish, Christian and Muslim faiths will join heads of area health systems, representatives of Governor Granholm, and other dignitaries at a media briefing and Interfaith Health Summit Monday to kick off Cover the Uninsured Week and to demonstrate support for the reauthorization and expansion of the State Children's Health Insurance Program (SCHIP). Sponsored by the Robert Wood Johnson Foundation and now in its fifth year, Cover the Uninsured Week is the largest movement in American history to mobilize citizens to seek solutions for the nearly 45 million Americans who are uninsured. SCHIP -- which is called MIChild in Michigan -- provides health coverage to kids whose parents work but are not offered health coverage through their jobs and cannot afford to purchase it on their own. Families whose children are eligible for MIChild pay $10 a month per child for coverage. During the Interfaith Health Summit, faith leaders and community members will receive information and tools to enroll eligible children in MIChild. To locate events including enrollment activities being held in Michigan or to learn more about SCHIP, log on to http://www.CoverTheUninsured.org. For local information about SCHIP funding for Michigan's MICHILD visit http://www.insurekidsnow.gov. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 20. INSURANCE NEWSCAST "Pictures Of The Day" -- Sponsored By:
View INSURANCE NEWSCAST "Sports Pictures Of The Day" View INSURANCE NEWSCAST "Entertainment Pictures Of The Day"
21. HHS, CMS Officials Kick Off a 'Healthier US Starts Here' Initiative National Effort Promotes Prevention, Healthier Living WASHINGTON, April 20 /PRNewswire-USNewswire/ -- The U.S. Department of Health and Human Services (HHS) and the Centers for Medicare & Medicaid Services (CMS) today launched "A Healthier US Starts Here," an initiative focused on motivating seniors and others with Medicare to make the most of Medicare's preventive services. During the spring and summer, the Medicare Prevention tour bus will visit each of the 48 continental United States to promote conversations between people with Medicare, families, caregivers, health professionals, and community organizations. Many disease prevention advocates, employers, and civic and state leaders have joined our efforts to create awareness of disease prevention and wellness. "A Healthier US Starts Here" will also teach people how to make the most of the CMS web site, http://www.mymedicare.gov. This is a one-stop, user- friendly web site that gives registered Medicare users access to personalized information on benefits and services. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. Governor Rendell Proclaims 'Cover the Uninsured Week' and Calls for Action on His Prescription for Pennsylvania Plan will Provide Access to Health Care for All Pennsylvanians HARRISBURG, Pa., April 20 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell today said "Cover the Uninsured Week" - to be observed April 23-29 - is the perfect time for the General Assembly to begin consideration of his Prescription for Pennsylvania proposal to make access to health coverage available to all Pennsylvanians. During "Cover the Uninsured Week," the Governor and members of his cabinet and staff will be traveling across the state to talk with groups - ranging from business and community leaders to health care advocates - about Pennsylvania's opportunity to make history by providing access to health coverage for all Pennsylvanians. "Nearly 767,000 Pennsylvanians lack health insurance coverage, which stands in the way of making sure they have basic medical care," Governor Rendell said. "Aside from the direct impact on personal health, this unresolved health care crisis places burdens on government, businesses and consumers. "Pennsylvanians pay an estimated $1.4 billion each year to help cover the costs of treating people who are uninsured and underinsured. Pennsylvania has an opportunity to become a national leader in improving access to health insurance coverage -- and the time to act is now." Announced in January, Governor Rendell's Prescription for Pennsylvania calls for the creation of Cover All Pennsylvanians, or CAP, a program offering access to affordable basic health coverage to small businesses without insurance and the uninsured through the private insurance market. According to a study by the Insurance Department, the majority of uninsured adults in Pennsylvania are employed, and most of the uninsured workers hold full-time jobs. By bringing down the cost of coverage, Pennsylvania can make it easier for businesses and employees to obtain desperately needed health coverage. In addition to expanding access to affordable health care coverage for all Pennsylvanians, Governor Rendell's Prescription for Pennsylvania includes innovative proposals to improve the quality of care and bring health care costs under control for employers and employees. More information about the Governor's plan may be found at http://www.rxforPA.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. NJ State Lodge Fraternal Order of Police Endorses Proformance Insurance FREEHOLD, N.J., April 20 /PRNewswire/ -- The New Jersey State Lodge Fraternal Order of Police (FOP), which represents more than 16,000 law enforcement officers, has officially endorsed the personal lines products of The Proformance Insurance Company to members of its organization. Proformance Insurance will offer automobile and homeowners insurance policies to members of the New Jersey State Lodge Fraternal Order of Police at a discount. www.nationalatlantic.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. NFCC Spring Meeting Kicks Off In Washington, Dc Focus On Housing, Subprime Mortgages, Consumer Debt U.S. Comptroller of the Currency to Provide Keynote, NFCC Consumer Financial Literacy Survey to be Released Silver Spring, MD - The National Foundation for Credit Counseling (NFCC) on Monday will commence its Spring Meeting in Washington, DC with issues such as housing, subprime mortgages, and consumer debt on the agenda. Credit counseling agency executives and stakeholders are gathering at a time when external economic factors are placing huge demands on the credit counseling sector. Meeting these challenges head on is integral to providing consumers with the financial guidance they require. www.nfcc.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. Market Analysis Legislation Establishes Framework For Insurance Regulation Washington State Adopts Law Based on NAIC Model KANSAS CITY, Mo. (April 20, 2007) — The state of Washington adopted new legislation based on a National Association of Insurance Commissioners (NAIC) model law this week, establishing innovative standards for regulating insurance company conduct throughout the state. Washington Insurance Commissioner Mike Kreidler requested the law, which creates a market conduct oversight program within the Washington State Office of the Insurance Commissioner (OIC). Gov. Chris Gregoire signed the legislation into law Wednesday. “The Insurance Commissioner’s office regulates 1,400 insurance companies doing business in Washington state,” Kreidler said. “We ensure they are financially solvent, capable of paying claims and operating in the marketplace as they promised. As with other states, our current market conduct review is retrospective. This new law gives us the tools to evaluate company behavior in real time.” www.naic.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
|
