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about the Center's educational offerings, America's Health Insurance Plans 1. Scruggs Katrina Group Statement on Agreement with Nationwide The information below was taken from the Scruggs Katrina Group website on Wednesday, 04/25/07. Scruggs Katrina Group and Nationwide have today announced the settlement of 227 policyholder claims against Nationwide relating to Hurricane Katrina. This means that all of SKG’s lawsuits against Nationwide on behalf of policyholders will be dismissed. The terms of the settlement are confidential. We are pleased to recommend this settlement to all of our Nationwide clients. We plan to begin meeting with our Nationwide clients to explain the settlement Wednesday of this week. Clarion-Ledger | Associated Press | Biloxi Sun Herald About the Scruggs Katrina Group The Scruggs Katrina Group is a legal team consisting of Mississippi attorneys from the following firms: Don Barrett and Marshall Smith of the Barrett Law Office; Johnny Jones, Steve Funderburg, and Stewart Lee of Jones, Funderburg, Peterson, Sessums, and Lee; Dewitt Lovelace of the Lovelace Law Firm; David Nutt, Meg McAllister, and Derek Wyatt of Nutt & McAllister, PLLC, and Richard Scruggs, Sid Backstrom, and Zach Scruggs of the Scruggs Law Firm. For more information go to http://www.scruggskatrinagroup.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Robin Jay, Author of “The Art of the Business Lunch - Building Relationships to Increase Sales” To Deliver Keynote At Workplace Benefits Mania Hall-Of-Fame Luncheon Cleveland, OH -- 04/25/07 The Workplace Benefits Association is pleased to announce that Robin Jay, Author of “The Art of the Business Lunch - Building Relationships to Increase Sales” will deliver the keynote presentation at the Workplace Benefits Mania Hall-Of-Fame Luncheon (July 17, 2007, Caesars Palace, Las Vegas, NV).
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Aon Global Risk Management Survey: Some Multinationals Not Ready for Risk CHICAGO, Apr 24, 2007 (PR Newswire Europe via COMTEX) -- Multinational corporations are facing increasingly diverse, complex and exotic risks, and may not have all the resources in place to manage them effectively, according to Aon's first Global Risk Management Survey. More than half of the survey's respondents said they weren't prepared for the risk they rated as most worrisome -- damage to reputation. "Executives now see reputation as a major source of competitive advantage," said Ruth Joplin, Aon Global Risk Consulting managing director. "While intangible, reputation is one of the most important corporate assets and one of the hardest to protect," she added. "The lack of preparedness reported for this and other key risks is both surprising and somewhat worrying." Joplin says it should come as no surprise that business interruption was cited as the second key risk. "Preserving earnings power is clearly one of the top priorities of senior management," she said, "and there is a growing realization that the resulting loss of income following an event could pose a greater threat than the physical damage itself. While 70% of respondents reported being prepared, it is perhaps even more telling that 30% are not." Survey responses suggest that third party liability risk concerns have arisen as a result of the encroachment of U.S.-style litigiousness into other geographies. "The 'compensation culture' is gaining a stronger global foothold," Joplin said. Rounding out the top five risk concerns, based on the survey's results, are distribution or supply chain failure, and market environment. Lack of preparedness for these risks is reported at 37% and 65%, respectively. What does this mean? "There is clearly more work to be done," said Joplin. "Dealing with these and future risk trends will require innovative, forward-looking solutions." Other top ten risk concerns rated by survey respondents are, in order, regulatory changes, failure to attract or retain staff, financial risk, physical damage and mergers and acquisitions and disaster recovery plan failure are tied for tenth place. Ranking Risk description
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. Agents for Change Delivers Open Letter to Congress Urging Support for an Optional Federal Charter Agents for Change delivered an open letter to Congress today urging members to support an optional federal charter (OFC). The letter was signed by over 300 insurance agents and brokers nationwide from across all lines of insurance who recognize that an OFC will mitigate licensing burdens and increase speed to market of new products. “The Agents for Change open letter demonstrates the breadth of support an OFC has in the producer community. Our members support an OFC for one simple reason: to better serve their customers. In the 21st century there is no reason why a product is offered in one state but not another. I have customers who would be a perfect fit for a product that is not offered in their state. Nobody wins under these antiquated rules. Moreover, it is completely unnecessary to force consumers to find a new trusted insurance agent if they move across state lines,” said Robert Poli, Chairman of Agents for Change. Agents for Change is a trade association of insurance agents and brokers from across all lines of insurance. Members of Agents for Change offer expert advice to public policy makers as they move forward to enact an optional federal charter to allow producers the option of being regulated at either the federal or the state level. Agents for Change has over 3,750 members nationwide. www.agents4change.net Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. Top hedge fund managers salaries ballooned in '06 Tue Apr 24, 2007 2:02PM EDT By Dane Hamilton NEW YORK (Reuters) - The high-rolling life of the world's top hedge fund managers just keeps getting better. The latest survey on hedge fund salaries shows that, for the first time, founding executives at three major hedge funds took home well over $1 billion last year. And the average pay for the top 25 hedge fund managers rose a staggering 57 percent to $570 million in 2006 from 2005, according to industry publication Alpha Magazine. The magazine, which based its pay scale findings on fund performance, fees and ownership structure, said fund managers benefited from rising global equity markets, adroit investment strategies and fees paid from investors to manage their money. The Alpha survey also showed that experience pays - among the top-10 earners are veteran traders including George Soros of Soros Fund Management, Bruce Kovner of Caxton Associates, Paul Tudor Jones II of Tudor Investment Corp. and Carl Icahn, the 1980s corporate raider-turned-hedge fund operator. Topping the Alpha list for 2006 for the second consecutive year is James Simons, the 69-year-old founder of Renaissance Technologies Corp., whose pay packet swelled by $200 million to $1.7 billion in 2006 from $1.5 billion in 2005. Simons, whose Long Island, New York-based fund family generates profits through computer generated trading models designed to track minute changes in global securities markets, holds advanced mathematics degrees and maintains close ties to academia. The second-highest 2006 earner, according to Alpha, is Ken Griffin, the 38-year-old founder of Chicago-based colossus Citadel Investment Group, a $12 billion fund group that trades in myriad strategies including energy, long-short equity, quantitative strategies and credit. Griffin took home $1.4 billion in 2006, up from just $240 million in 2004, fueled by gains to its Kensington fund, which posted average annual returns of 20.7 percent over eight years and its Wellington fund, which gained an average of 23.6 percent in the same period. Citadel also gained through its two-year-old electronic trading platform, which trades an average of 150 million shares daily, Alpha said. Ranked third is Edward Lampert, head of ESL Investments, who is chairman of Sears Holdings Corp. (SHLD.O: ) and holds a 42.5 percent stake in the mega-retailer that he helped form by merging Sears into bankrupt Kmart Holdings in 2005. The stock continues to scale upwards, rising 43.6 percent in the 12 months of 2006 and now trades at $189 a share, fueling gains for ESL as its biggest holding. The following is the complete top-10 list of hedge fund earners in 2006:
© Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
6. Wealthy say no better at finding top hedge funds Tue Apr 24, 2007 3:40PM EDT By Svea Herbst-Bayliss BOSTON (Reuters) - Wealthy investors say they are no better than anyone else at finding the world's best hedge funds, loosely regulated portfolios that can enrich the people who run them and those who invest in them. Three out of four wealthy investors polled by U.S. Trust, a company that has served high net-worth families for over 150 years, said hedge funds are difficult to investigate and that it is difficult to find a good fund. Half of the respondents said the U.S. stock market is becoming riskier, and a significant number of those people said they plan to move money abroad. "Previously people owned stocks, bonds and real estate, and now that is changing," Napoli said, adding "People want to preserve their wealth by diversifying." The survey also found that respondents said their children are generally at least 27 years old -- nearly 10 years older than when they begin voting and driving -- before they manage their own money. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. Insured Americans Accept Rising Health Care Costs – but Are Not Prepared for Them WageWorks Survey Reveals Americans Fear Expenses More than Illness SAN MATEO, Calif.--(BUSINESS WIRE)--To cope with rising health care costs, even working Americans with health insurance are deferring medical visits and cutting back on prescriptions, according to a new study commissioned by WageWorks. Although working Americans are largely accepting of higher medical costs as inevitable, few are prepared for them. Among the survey’s most dramatic findings is the fact that insured Americans are behaving just like the uninsured, when it comes to rising health care costs. In response to higher deductibles, bigger co-payments and more restrictive coverage, more than half of survey respondents who have employer-sponsored health insurance have delayed a medical or dental visit in the last year. Furthermore, 22 percent report that they have cut back on prescription medicine. www.wageworks.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. What Keeps Risk Managers Awake at Night? Specialty Risk Services Surveys Examine Risk Managers’ Biggest Fears for Today and in the Future HARTFORD, Conn.--(BUSINESS WIRE)--Risk managers have more than their share of challenges as they strive to keep loss costs down and employees safe, but topping the list of what keeps them awake at night are rising medical costs followed a distant second by the threat of pandemics, according to a series of industry surveys recently conducted by Specialty Risk Services (SRS), one of the nation's leading property-casualty third party administrators for workers' compensation and liability claims. While 52 percent of respondents worry about rising medical costs, 12 percent ranked pandemics as their biggest concern. Privacy issues and unhealthy employees tied for third with 6 percent each. However, looking ahead five years from now, risk managers’ worries shift to talent management and an unhealthy employee population, which topped the list of biggest future concerns at 37 percent, followed a close second by rising medical costs at 34 percent. In fact, 59% of industry professionals say they consider overweight employees to be at greatest risk for workplace injuries in the future followed a far second by depressed employees at 20 percent and the aging workforce at 13 percent. www.srsconnect.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. Dr. Alan Greenspan Calls for Baby Boomers to Take Action in Preparing for Retirement MDRT Boomertirement Industry Summit NEW YORK CITY--(BUSINESS WIRE)--Dr. Alan Greenspan – U.S. Federal Reserve Chairman (1997-2006) – today encouraged Baby Boomers around the world to take more responsibility to prepare for their retirement. Dr. Greenspan offered his perspective as the keynote speaker at the MDRT BoomertirementTM Industry Summit. “We have to recognize that what we’re going through is unique in world history,” said Dr. Greenspan. “Retirement is a relatively new phenomenon. As a society we’ve dealt with it successfully in the past few decades but we’ve never had such a huge group of individuals going into the system at once and then living so long in their retirement years.” Greenspan said the government will find it increasingly difficult to keep all the financial promises it has made through Social Security, Medicare and other programs in coming years. He added that the longer we collectively wait to deal with these key issues, the more difficult they will become to address. Greenspan added that, as life expectancy continues to increase, Baby Boomers will likely look for additional ways to remove the financial uncertainties that will come from a longer retirement by analyzing their lifestyle, determining the resources at their disposal, and ultimately making decisions to best prepare for their future. Currently being held in New York City, the Boomertirement Summit was convened by MDRT – a leading non-profit association representing 35,000 financial services professionals around the world – to help lead the development of solutions to the looming Baby Boomer retirement crisis. The event brought together top economists, scholars, financial services industry leaders and other thought leaders for two days of presentations and interactive discussions. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. 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11. Lawmakers slam US regulators on oven tip-over risk By Kevin Drawbaugh WASHINGTON, April 10 (Reuters) - Two U.S. lawmakers criticized federal safety regulators on Tuesday for not doing more to prevent kitchen range tip-overs that have killed dozens of people, mostly small children, and urged action soon. Lighter-gauge steel ranges are more affordable and began replacing heavier models in recent years, but they may also tip over when weight is put on an open oven door. At least 33 people -- 60 percent of them small children -- have been killed since 1980 by free-standing kitchen stoves tipping over on them, said Reps. John Dingell and Bart Stupak in a letter to the Consumer Product Safety Commission's acting chairman, Nancy Nord. The letter was obtained by Reuters. Dozens more people, including children and elderly people, have suffered injuries such as severe burns in range tip-overs, said the lawmakers, both Democrats from Michigan. "Nowhere in the course of this appalling history, however, is there any indication that the commission has seen fit to take action to end these deaths and injuries," they said. (Additional reporting by Susan Heavey) © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. Sears securitizes its brand names: BusinessWeek Thu Apr 5, 2007 7:41PM EDT NEW YORK (Reuters) - Sears Holdings Corp. (SHLD.O: ) has created $1.8 billion worth of securities based on its most famous brand names: Kenmore, Craftsman and Die Hard, BusinessWeek magazine said in its latest issue on Thursday. Sears had transferred ownership of the brands to an insurance subsidiary of the retailer last May, protecting them from any bankruptcy proceeding, BusinessWeek said, citing documents and sources familiar with the securitization. The deal represents the biggest securitization of intellectual property in history, said the magazine, citing an analyst at Standard & Poor's, which, like BusinessWeek, is a unit of McGraw-Hill Companies (MHP.N: ). Intellectual property bonds have been around since 1997, but generally rely on a stream of income to make interest payments, such as royalty payments from songs. Sears brand-name bonds do not involve pre-existing royalty payments, BusinessWeek said. The magazine suggested that Sears could license the brand names to other companies. Sears has not commented on what it plans to do, BusinessWeek said. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. NFCC Releases New Survey On Financial Literacy, Launches New Vision 'A Teachable Moment' And A New Mission New Survey Reveals Serious Gaps in Knowledge and Desire to Learn Responsible Financial Management, NFCC Launches New Proactive Approach Silver Spring, MD - The National Foundation for Credit Counseling (NFCC) today released the results of its consumer financial literacy survey and simultaneously announced a new vision and mission for the organization, focusing primarily on prevention. The overall goal of the NFCC survey, conducted by Princeton Survey Research Associates International, is to provide a benchmark of what Americans know about their finances and their receptiveness to professional financial counsel and education. Overall findings indicate that Americans are not universally following even some basic tenets of sound financial management, such as tracking expenses, ordering credit reports, and managing credit card debt. Many are interested in getting help but don't know where to find what they need. For more results on the NFCC's financial literacy survey visit www.nfcc.org or contact Nick Jacobs at (301) 576-2537 or njacobs@nfcc.org. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. Life Insurance Direct Marketing Association Announces 2007 Fall Meeting & Showcase Date ATLANTA, GA – (April 24, 2007) -- Top life insurance executives will gather at the 4th annual Fall Meeting & Showcase of the Life Insurance Direct Marketing Association (LIDMA) which will be held from September 10 through September 12 at the Omni Hotel in San Diego, CA. The announcement was made by Pat Wedeking, president of LIDMA. LIDMA is the only association dedicated to supporting businesses and professionals active in the direct sale of life insurance products to consumers – the fastest growing sales segment in the life insurance industry. A not-for-profit organization, LIDMA is committed to helping members increase their revenues derived through direct response sales as well as assist new entrants into the segment adapt and succeed in their direct response efforts. Membership and registration information is available at www.lidma.org. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. Enwisen Announces Major New Release of AnswerSource Knowledge Center – AnswerSource 8.0 NOVATO, CA – April 23, 2007 – Enwisen announced the completion of a major new release of its AnswerSource Knowledge Center, a comprehensive suite of on-demand HR communications applications. AnswerSource 8.0 features industry-leading onboarding orchestration, content advancements and user experience enhancements to solidify Enwisen’s position as the leader in hire-to-retire workforce communications technology. www.enwisen.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. China Life to take control of trust firm -sources BEIJING, April 24 (Reuters) - China Life Insurance, the nation's biggest life insurer, has decided to take a controlling stake in China Credit Trust Co. Ltd., a major domestic trust firm, insurance sources told Reuters on Tuesday. China Credit Trust was founded in Beijing ten years ago by the former Ministry of Coal Industry and a number of large state-owned coal enterprises. The trust firm is also the biggest shareholder of Harvest Fund Management Co., China's largest fund company, in which Deutsche Bank AG (DBKGn.DE: ) has a 20 percent stake. ($1=7.73 yuan) Reporting by Coco Li, Kai Huang and Eadie Chen; editing by Greg Mahlich; (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. U.S. Bank to Teach Children How to Be Smart Savers MINNEAPOLIS--(BUSINESS WIRE)--On Tuesday, April 24, thousands of schoolchildren will learn from members of the their local U.S. Bank team how to save money during the 11th annual “National Teach Children to Save Day.” This event is sponsored by the American Bankers Association (ABA) Education Foundation. www.usbank.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. Nearly One Quarter of Seniors Could Have Avoided Medicare ''Doughnut Hole'' Analysis Uncovers Opportunity to Steer Clear of Prescription Coverage Gap and Cut Overall Medicare Part D Costs by 13 Percent Through Increased Use of Generic Drugs ST. LOUIS, Apr 25, 2007 (BUSINESS WIRE) -- Express Scripts (ESRX) , a leading pharmacy benefit manager, today announced results of an analysis examining the 2006 prescription claims history of 220,000 non-low-income seniors with Medicare drug plans that have a standard coverage gap, "doughnut hole," of $2,250. According to the report, 23 percent of the seniors who fell into the doughnut hole could have avoided doing so if they used available, lower-cost generic drugs instead of brand-name options. http://www.express-scripts.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Uncover What Your Clients Want from an Estate Plan with a Four Step Guide from Pacific Life NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Identifying what they want to accomplish in an estate plan can be very difficult for many clients. Add to that the wide variety of planning techniques and you can really confuse a client. There are so many issues – both emotional and financial. To help, Pacific Life Insurance Company and Pacific Life & Annuity Company introduced a new guide for insurance professionals to use with clients called, “What You Want – Estate Planning.” This innovative guide has a four-step approach with questions and answers set up by categories so your client can focus on what matters to them. To begin, clients:
“Estate planning can be a complex topic and an emotional one. This guide focuses on your clients’ concerns and helps them define their goals so you can then help them,” explained Alyce Peterson, vice president of marketing services for the Life Insurance Division of Pacific Life. “The ‘What You Want – Estate Planning’ guide gives you a starting point when advising clients on how life insurance can be used in their legacy whether that’s taking care of children, passing on a family business or supporting a favorite charity.” Insurance professionals can get a copy of the “What You Want – Estate Planning” guide by contacting their Pacific Life or Pacific Life & Annuity representative or by calling 866-722-9555. www.PacificLife.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. Fitch Special Report: The Industrial Loan Company (ILC) Quandary: What Can Be Done? NEW YORK--(BUSINESS WIRE)--Fitch Ratings has released a special report titled 'The Industrial Loan Company (ILC) Quandary: What Can Be Done?', exploring the ongoing debate of whether or not commercial firms should have the ability to control industrial loan companies (ILCs). ILCs are state-chartered financial institutions primarily supervised by the Federal Deposit Insurance Corporation (FDIC). The ILC charter developed out of exceptions written into bank regulations, exempting them from the Bank Holding Company Act, which prevents non-financial entities from controlling banks. This has created a loophole which is presently the sole method for a commercial firm to control a bank in the U.S. banking system. Since Wal-Mart filed an application for an ILC charter, the argument of whether the ILC loophole should be closed has gained significant attention. The special report also reviews the genesis of the ILC charter and the evolution of bank regulation, which has, thus far, preserved the ILC as a means for a commercial entity to control an FDIC-insured bank. The report, 'The Industrial Loan Company (ILC) Quandary: What Can Be Done?' is available on the Fitch Ratings public web site at www.fitchratings.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. Fitch: Role of Trustee Vital in U.S. Subprime Servicing Transfers NEW YORK--(BUSINESS WIRE)--Mounting challenges within the U.S. residential mortgage sector have heightened investor interest in what factors could cause an occurrence of subprime servicer default and a transfer of servicing, according to Fitch Ratings in a new report. Two integral areas highlighted by Fitch in this process are the role of the trustee, as well as the subprime mortgage pooling and servicing agreements (PSAs) that impose certain eligibility requirements on the servicing parties, particularly in the event of a default or bankruptcy. This report marks the latest in a series of regular commentaries by Fitch on the challenges in the subprime market. 'U. S. Residential Mortgage Servicer Bankruptcies, Defaults, Terminations, and Transfers' is available on the Fitch Ratings web site at www.Fitchratings.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Terrorism Insurance Imperative for a Strong Commercial Real Estate Market WASHINGTON, April 24 /PRNewswire-USNewswire/ -- If the terrorism insurance program were allowed to expire, coverage would become largely unavailable and unaffordable, and the gears of commercial real estate would grind to a halt, according to the National Association of Realtors(R) and the Coalition to Insure Against Terrorism. "The potential unavailability of terrorism risk insurance at the end of this year impacts our financing agreements and potentially hurts the commercial real estate market," said Joseph Ditchman, former president of the Ohio Association of Realtors(R) and a partner at Colliers Ostendorf-Morris, one of Cleveland's largest commercial real estate firms. http://www.realtors.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Renewed Federal Terrorism Program Must Recognize CNBR Severity, Says A Leading Insurance Executive WASHINGTON, D.C., April 24, 2007 – Terrorism remains an uninsurable risk, and it is critical that Congress renew the federal terrorism backstop, but with changes that include permanency and addressing the severe nature of chemical, nuclear, biological and radiological (CNBR) attacks, said Brian E. Dowd, Chief Executive Officer, Insurance-North America, ACE Group, today before a congressional panel. The Terrorism Risk Insurance Act (TRIA), as modified and extended through the Terrorism Risk Insurance Extension Act (TRIEA), has worked by making terrorism risk insurance widely available to U.S. businesses and stabilizing the private marketplace for a risk that has many features that make it uninsurable, Dowd testified before the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises. www.aiadc.org. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. NAMIC Implores Congress to Extend TRIA, Assures Participation by Smaller Insurers WASHINGTON (April 24, 2007) — The National Association of Mutual Insurance Companies (NAMIC) issued the following statement in advance of the House Financial Services’ Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises hearing today on Policy Options for Extending the Terrorism Risk Insurance Act. The statement can be attributed to Warren Heck, chairman and CEO of the Greater New York Mutual Insurance Company and chairman of the NAMIC TRIA Task Force. The need for a federal reinsurance mechanism to cover terrorist attacks within the U.S. cannot be underestimated. As President Bush and other government leaders have stated, it is not a matter of whether, but when another terrorist attack will occur on U.S. soil. Absent a federal financial backstop, such an event could cripple the U.S. economy. Congress should adopt a long-term terrorism reinsurance program — at least five to 10 years in length. It should include provisions that enable and encourage small- and medium-sized companies to participate, since they comprise a significant percentage of the private-sector insurance marketplace. www.namic.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. NAIC Launches Insure U For Small Business NEW YORK (April 24, 2007) — The National Association of Insurance Commissioners (NAIC) today launched a comprehensive public education program to assist small businesses with information about business risks and insurance options. Under the banner of Insure U for Small Business, the campaign includes an online education site, public service announcements in English and Spanish, and community outreach by public information officers of state insurance departments. The Insure U for Small Business curriculum, available at http://www.insureuonline.org/smallbusiness/, includes the following six categories of vital information to small businesses: workers’ compensation, group health and disability, business property and liability, commercial auto, group life and key person life, and home-based business insurance. After reviewing the curriculum’s helpful explanations, tips and considerations, small business owners and managers can test their knowledge about insurance issues by taking an online quiz. Upon successful completion, they can download an Insure U for Small Business diploma. “Small businesses are a major engine for our national economy, employing millions of Americans and generating immense economic activity,” said Walter Bell, NAIC President and Commissioner of the Alabama Department of Insurance. “Small business owners need to understand the array of business risks they face, as well as how to protect themselves with the right insurance coverage. Insure U for Small Business — supported by state insurance departments across the U.S. — will help small business owners and managers make smarter insurance decisions.” Research conducted by the NAIC in March revealed that many small businesses — defined as those with fewer than 100 employees — are exposed to serious risks that could be mitigated by a better understanding of insurance options, according to Catherine J. Weatherford, NAIC Executive Vice President and CEO. Key findings of the research show:
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. Travelers Commercial Accounts Launches New IndustryEdgeSM Product for Printers, with Printers E&O HARTFORD, Conn.--(BUSINESS WIRE)--To meet the specific insurance coverage needs of the printers market, Travelers Commercial Accounts today announced the availability of a suite of coverages designed expressly for printers. The latest addition to IndustryEdgeSM, Travelers industry-focused suite of products sold within Commercial Accounts, this new product for printers is tailored for the mid-sized commercial printers who typically generate more than $15 million in sales. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. Lexington Insurance Company Establishes Underwriting Office in Bermuda NEW YORK--(BUSINESS WIRE)--Lexington Insurance Company, a member company of American International Group, Inc. (AIG), today announced it has opened a property and casualty insurance underwriting office in Hamilton, Bermuda. For more information, contact George Dragonnetti, General Manager, Lexington Insurance Company, at 441-295-2121 or george.dragonetti@aig.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 29. Markel American Insurance Company Announces Launch of Markel Boat Program PEWAUKEE, Wis., April 24 /PRNewswire/-- Markel American Insurance Company is pleased to announce the launch of their new Markel Boat program for insuring boats up to 26 feet in length. MAIC's new Markel Boat program is intended to offer a wider breadth of options for those wanting to insure watercraft up to 26 feet. The new program boasts competitive rates and coverage for a new runabout, a personal watercraft, an airboat, a 100 MPH performance boat and anything in between. Markel Boat offers some of the best coverage in the marketplace, including Replacement Cost coverage, Diminishing Deductibles, stand-alone Pollution, Wreck Removal as well as other options such as Primary Fishing and Boat Lift coverage. http://www.markelmarine.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 30. MassMutual Renews IMSA Membership Company continues commitment to high ethical standards in advertising, sales and servicing of products SPRINGFIELD, Mass., April 24 /PRNewswire/ - Massachusetts Mutual Life Insurance Company (MassMutual) announced today it has renewed its membership in the Insurance Marketplace Standards Association (IMSA), the premier standards-setting organization for the life insurance marketplace. IMSA promotes high ethical standards in the sale and service of life insurance, annuity and long-term care products. For insurers to maintain IMSA member status, they must demonstrate that their ongoing business operations abide by IMSA's strict code of ethical market conduct. Every three years, insurers must undergo independent assessment of all business operations by an impartial third party. MassMutual recently completed the rigorous, independent review of its marketing, sales and compliance practices required to maintain IMSA qualification. http://www.massmutual.com IMSA is the premier standards-setting organization for the life insurance, annuities and long-term care insurance marketplace for individually sold products. Qualified companies commit to maintaining high ethical standards and to being fair, honest, and open in the way they advertise, sell and service their products. IMSA qualification is for three years. The IMSA seal is a guidepost of excellence and integrity for consumers. For more information, visit http://www.IMSAethics.org. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 31. Universal Insurance Holdings AMEX Listing Approved Trading to Begin on April 30, 2007 Under Ticker Symbol UVE FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Universal Insurance Holdings, Inc. (the “Company”) (OTCBB:UVIH), a provider of property and casualty insurance, today announced that it has been advised by the American Stock Exchange (“Amex”) that its application for listing of its common stock has been approved. The Company expects that its shares will begin trading on the Amex on Monday, April 30, 2007, under the ticker symbol UVE. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 32. New Statewide Organization Formed to Find Solutions for State's Uninsured DETROIT, April 25 /PRNewswire/ -- Business, labor leaders, health care providers, consumers and insurers from across Michigan are joining ranks to find solutions to the uninsured. A broad-based coalition of untraditional partners including the AFL-CIO, Small Business Association of Michigan, Michigan State Chamber of Commerce, Michigan Health & Hospital Association, Blue Cross Blue Shield of Michigan, Aetna, religious organizations and others have formed the Michigan Health Insurance Access Advisory Council (MHIAC) to develop long term sustainable solutions to the issue of the uninsured in Michigan. MIHAC is a non-partisan, non-governmental group. Members of MHIAC come from all sectors of the economy and have diverse concerns. "One thing we do agree on is that the cost of the uninsured find its way back to all of us as paying customers," says MHIAC chairman Rob Fowler and executive director of the Small Business Association of Michigan. "MHIAC is taking a long view on the issue of the uninsured and is not tied to a particular administration or legislature." Sponsored by the Robert Wood Johnson Foundation, the Cover the Uninsured campaign is focused on the need to secure health coverage for all Americans. For more information on campaign activities, go to http://www.CoverTheUninsured.org. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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