Daily Quote: "There is always room at the top." - - Daniel Webster
Key Benefit Resources: (877) 907-5511, sbell@keybenefitresources.com, www.keybenefitresources.com Key Benefit Resources, LLC. custom design, create, and develop employee benefits plans and programs for Brokers, Employers, Unions, Affinity Groups as well as National and Regional Insurance Carriers. 1. Allstate unit to get subpoena on Katrina NEW YORK, May 4 (Reuters) - A unit of Allstate Corp. (ALL.N: , the largest publicly traded U.S. car and home insurer, will be servied with a subpoena in connection with claims related to Hurricane Katrina, it said in a filing on Thursday. The U.S. Department of Homeland Security has told the company that its Allstate Insurance Co. unit will be served with a subpoena for documents with respect to homeowners' claims arising from the hurricane, Allstate said in the filing with the U.S. Securities and Exchange Commission. U.S. Congress authorised the department in 2006 to investigate insurers participating in the National Flood Insurance Program, Allstate said. Allstate has cooperated with the department in the investigation, it said. Reporting by Paritosh Bansal, editing by Quentin Bryar, (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Money laundering plan targets bulk cash, trade Thu May 3, 2007 4:09PM EDT By David Lawder WASHINGTON (Reuters) - U.S. federal agencies on Thursday announced a new anti-money laundering strategy that boosts emphasis on combating bulk cash smuggling and trade-based activities as traditional bank transfer avenues are shut down. The strategy is based on a money laundering threat assessment report issued last year, which highlighted the rise of non-traditional methods of moving tainted funds. Updated for the first time since 2003, the strategy, led by the U.S. Treasury, Justice and Homeland Security departments, aims to safeguard the U.S. banking system while tightening regulation of non-bank money services businesses, such as currency exchanges and firms that redeem stored value cards. The shift in emphasis marks some success by the Treasury and bank regulators to enforce the Bank Secrecy Act, which requires U.S. banks to maintain strong anti-money laundering controls including customer due diligence and regularly filing reports on suspicious transactions. "As it gets more difficult to move money illicitly in the formal (banking) system, people are moving to other methods, like bulk cash smuggling, like trade-based money laundering," said Pat O'Brien, the Treasury's assistant secretary for terrorist financing. In trade-based money laundering, cash is converted to goods which are then moved across borders and sold in seemingly legitimate transactions, but often with artificially inflated or deflated invoice prices. The Treasury also will investigate how free-trade zones, in which customs duties are often eliminated, reduced or deferred, affect illicit imports and exports. The agencies are also targeting insurance companies after finding a number of schemes which have exploited life insurance policies, annuities and other investment products. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Wal-Mart outlines $1.1 bln employee benefits NEW YORK, May 3 (Reuters) - Wal-Mart Stores Inc. (WMT.N: said on Thursday that for its fiscal year ending Jan. 31, it contributed $1.1 billion to U.S. hourly associates through profit sharing and 401(k) accounts, stock purchase plans and merchandise discounts. The world's largest retailer did not disclose how the figures compared with those from a year earlier. Wal-Mart has been battling criticism from labor groups and politicians, who say it pays inadequate wages and forces employees onto government aid programs. The company has tried to counter the critics by raising pay levels, selling generic drugs for $4 per prescription and adding in-store health clinics. Wal-Mart said that historically it has contributed 2 percent of an employee's pay to a profit-sharing plan and 2 percent to a 401(k) retirement plan. The retailer said employees do not have to contribute their own money to the plans to get the company contribution. Reporting by Nicole Maestri, editing by J.S. Benkoe, Leslie Gevirtz, (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4.
To listen to the audio on your desktop! Left Click on the icon below. It should open up your Windows Media Player audio dialogue box and automatically begin the interview.
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Can you afford to not offer Health Savings
Accounts? Scheduled speakers are:
The latest enrollment figures for health insurance plans associated with HSAs by America’s Health Insurance Plans (AHIP) are showing continued strong enrollment growth across the country.
As consumer driven health care and HSAs continue to explode across the country, we will discuss:
For more information visit www.hsaseminar.com or call HSA Clearing Corp at 866-HSA-4721 Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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6. Credit Suisse to steer clear of bank merger wave Fri May 4, 2007 9:39AM EDT By Andrew Hurst, European Banking Correspondent ZURICH, May 4 (Reuters) - Credit Suisse intends to steer well clear of a wave of consolidation in the European banking industry and stick to investment banking and wealth management, the bank's chairman Walter Kielholz said on Friday. Speaking at the bank's annual shareholders' meeting in Zurich, Kielholz also ruled out any immediate plans by Credit Suisse to expand retail banking operations outside Switzerland, the only country where it has a significant retail presence. Reporting by Andrew Hurst, Editing by Matthew Tostevin ($1=1.210 Swiss Franc) (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. Catastrophe bonds offer haven from subprime storm Thu May 3, 2007 5:10PM EDT By Neil Shah - Analysis NEW YORK (Reuters) - Investors seeking to replace the heady returns once enjoyed with bonds tied to U.S. subprime mortgages might consider a security with a higher yield but an entirely different risk: catastrophe bonds. These lucrative securities, which allow buyers to make bets on the severity of earthquakes and hurricanes, are issued by insurance companies looking to expand cash reserves to pay off policy holders in the event of a major disaster. Since catastrophe bond returns are dependent on the climate and geology instead of profits and interest rate spreads, they can be great for improving investor portfolios during times of financial market duress. "Catastrophe bonds have very low correlation with other financial instruments," said Niraj Patel, portfolio manager at Genworth Investments in Stamford, Connecticut. "On a portfolio level, (a catastrophe bond) actually is a good diversifier." Money managers and hedge funds who gobbled up these bonds in the past year are sitting on a tidy profit, having wagered, correctly, that a particular catastrophe would not overwhelm insurers. The spread, or difference in yield between catastrophe bonds and the London Interbank Offered Rate has narrowed by 10 to 20 percent since July, analysts say. "They're offering really good returns right now," said Dan Ozizmir, managing director at Swiss Re Capital Markets in New York. "The benefit of (portfolio) diversification is not yet priced into this market." Catastrophe bonds and other insurance-linked securities have grown steadily since 1997 with about $25 billion of bonds now outstanding. Just last week, Longpoint Re sold $500 million of securities linked to hurricane risks in the northeastern United States at a spread of 525 basis points over three-month Libor, according to Genworth Investments' Patel. That compares to roughly 140 to 150 basis points of yield for similarly rated high-yield, or junk bonds, he said. Of course, the market's recent strength is partly due to fairly light hurricane activity last year, with only nine tropical storms and hurricanes, compared to the 28 named storms in 2005, including Hurricanes Katrina and Rita. This year's hurricane season, which begins on June 1, may end up being an average one by long-term standards, according to Jill Hasling, president of the Weather Research Center, a Houston-based non-profit forecasting operation. Hasling is predicting only seven named storms this season, with four of them intensifying into hurricanes. SUBPRIME TSUNAMI? Stashing a little cash in catastrophe bonds this year may help smooth out investor portfolios, especially if the subprime crisis gets worse in coming months as more adjustable-rate loans reset, overwhelming homeowners. Rising default rates on subprime loans have already pushed at least 20 subprime lenders out of the business and sunk prices on riskier securities backed by these loans. Meanwhile, catastrophes such as the destruction of the World Trade Center and the devastation of New Orleans by Hurricane Katrina have raised concerns about whether future events might outstrip the insurance industry's resources, partly fueling this market's growth, analysts said. Issuance of catastrophe bonds and other insurance-linked securities jumped almost 50 percent in 2006 to about $10.1 billion from $5.7 billion during the previous year, according to Swiss Re Capital Markets' Ozizmir. FROM FRYING PAN TO FIRE? To be sure, catastrophe bonds, which often have a two- or three-year maturity, carry very different risks than junk bonds or bonds backed by subprime mortgages. If an earthquake ends up hitting a specific magnitude at its epicenter, or if losses from a hurricane exceed a specified amount, that puts investors in danger of losing much, if not all, of their cash. Catastrophe bonds have a "low probability of default, but if the default happens, the severity is fairly high," Patel said. Some analysts are predicting a heavier hurricane season this year compared to 2006's mild season. Colorado State University's Philip Klotzbach and William Gray said in December they expect the 2007 season to have 14 named storms and seven hurricanes. U.S. weather forecasters at the National Oceanic and Atmospheric Administration will issue a report on the Atlantic Hurricane outlook later this month. "At the end of the day, nobody can predict Mother Nature," Patel said. "Last year everybody was saying things are going to be really bad, and nothing happened." Still, more investors are becoming comfortable with such risks, especially in the wake of Hurricane Katrina, analysts say. "If investors were going to exit the sector, that would have been the year they would have done it," Swiss Re Capital Markets' Ozizmir said. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. Cigna ranks No. 1 in doctor payment survey By Lewis Krauskopf NEW YORK, May 2 (Reuters) - Cigna Corp. (CI.N: is the easiest U.S. health insurer for doctors to do business with, according to an analysis of medical claims and administrative efficiency released on Wednesday. The analysis by athenahealth Inc., a claims-processing and physician services company, ranked Aetna Inc. (AET.N: as No. 2. The U.S. government's Medicare Part B program was third. Humana Inc. (HUM.N: , which was No. 1 last year, placed fourth this year. UnitedHealth Group Inc. (UNH.N: was fifth. Coventry Health Care Inc. (CVH.N: was last among large national publicly traded health insurers, but ahead of Champus/Tricare, a federal military insurance program. WellPoint Inc. (WLP.N: was next to last among public companies. Overall, health insurers have improved operations since last year, the first year of the analysis, said Jonathan Bush, chief executive of athenahealth, a privately held company that performs back-office services for physicians. Complete rankings can be viewed at www.athenaPayerView.com. Reporting by Lewis Krauskopf, editing by J.S. Benkoe, (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. Aon CEO sees insurance rates drop 10 pct in 2007 NEW YORK, May 4 (Reuters) - Aon Corp. (AOC.N: Chief Executive Greg Case said on Friday he sees insurance rates for products his brokers handle declining 10 percent this year, with some falling as much as 20 percent. Aon, one of the two largest insurance brokers in the world, helps companies find property and casualty insurance, reinsurance and legal liability coverage. Its business is dependent, in part, on commissions from these sales. The lower the rates, the smaller the commissions. In an interview with Reuters, Case said rates had initially declined in casualty insurance, which covers companies against lawsuits, but were now down in property and catastrophe coverage as well. The most competitive area is directors and officers insurance, which protects top company officials against shareholder suits for errors of judgment and wrongful acts, such as misuse of stock options. At Aon Re, which helps property insurers get backup coverage in case of hurricanes and other catastrophes, rates are also down as much as 20 percent, particularly for home coverage. These insurers are keeping more of their risk at their own companies, Case said. Despite the lower insurance rates, Aon reported 8 percent higher first-quarter earnings on Thursday. The Aon chief executive said his firm made up the loss of commission revenue by retaining more of its clients and performing additional work for them. Aon also consults for many of its clients and does specialty insurance underwriting for claims Medicare does not cover. Reporting by Ed Leefeldt; (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. Health Insurance Conference To Be Held In New York City On June 6, 2007 NEW YORK May 3, 2007--Standard & Poor's Ratings Services said today that it will hold its annual health insurance conference on June 6, 2007, in New York City. The conference, called "Health Insurance 2007: Realizing Reform," will focus on several aspects of health care reform as well as on other key issues facing the industry. Senior executives from America's Health Insurance Plans, Health Care Service Corp., HIP health plans, and Humana Inc. will be among the speakers at the conference. Leslie Kirwan of the Executive Office for Administration and Finance of the Commonwealth of Massachusetts will discuss implementation of that state's universal health law. "Health care reform has attracted much attention on both the federal and state levels, as both consumers and businesses need to address the rising cost of health care and the increasing number of people who are uninsured," said Standard & Poor's credit analyst Shellie Stoddard. "We will also be discussing with industry leaders important industry issues such as the regulatory environment, medical information technology, consumerism, and affordability." The Standard & Poor's Health Insurance conference will be held at the Standard & Poor's conference center at 55 Water Street in New York City. There is no charge for the conference, but pre-registration is necessary. Registration information and a full agenda are available at www.events.standardandpoors.com/healthcare. Members of the media wishing to attend the conference or obtain further information should contact Marc Eiger at (1) 212-438-1280 or marc_eiger@standardandpoors.com. www.standardandpoors.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 11. RAA Testifies Before Select Committee On Energy Independence And Global Warming WASHINGTON, DC (May 3, 2007) – Franklin W. Nutter, president of the Reinsurance Association of America (RAA), today testified that “No financial services business is more dependent on the vagaries of climate and weather than property and casualty insurers,” stressing the industry is at great risk if it does not understand global climate variability and the frequency of extreme events. Speaking before the House of Representatives Select Committee on Energy Independence and Global Warming about the economic impacts of global warming on the insurance industry, Nutter cited a sobering GAO study that reported private and federal insurers paid $320 billion in claims on weather-related losses from 1980-2005, with private insurers paying $243 billion, or 76%, of the total. Nutter said that property and casualty insurers “must be more than a pass-through mechanism for the costs associated with natural disasters. Understanding global climate change and integrating that information into the insurance system is an essential part of addressing climate extremes and conveying information to governments and the public about the economic consequence of human activity in the face of changing global climate.” During his testimony, Nutter commented on the industry’s inter-dependency with climate and weather. “It is the risk of natural events which drives the demand for insurance coverage,” he said, “and yet, if not properly managed, it can threaten the viability of an insurer if it is over-exposed in high risk areas. An insurance company thrives or dies on its ability to make estimates of the economic consequences of future events.” Nutter concluded his testimony saying “Insurers are in the business of assessing risk, pricing it and providing risk financing or transfer. Its long-term strategy, however, does not include bearing the cost of climate change without a concomitant commitment on the part of society to pursue a mitigation strategy – addressing the causes and consequences of climate change.” The Reinsurance Association of America has been the voice of the reinsurance industry since 1968. Headquartered in Washington, D.C., the RAA is a non-profit association committed to an activist agenda that represents the interests of reinsurance professionals across the United States. RAA membership is diverse, including large and small, broker and direct, U.S. companies and U.S. subsidiaries of foreign companies. Together, RAA members and their affiliates write more than two-thirds of the gross reinsurance coverage provided by U.S. property and casualty reinsurers. http://www.reinsurance.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. Fireman’s Fund Insurance First To Offer “Change Of Heart” Coverage With Wedding And Private Event Insurance New, Enhanced Policy Protects Couples from “Cold Feet” Fireman’s Fund Insurance Company has joined forces with insurance agent RV Nuccio & Associates Inc. to offer enhanced insurance policies for weddings and private events to protect the financial interests of their customers. Fireman’s Fund’s Weddingsurance® now protects against change of heart – the first time an insurance company has offered this coverage. With the average cost of a wedding today approaching $27,000, many parents are reluctant to put down hefty deposits with event facilities, caterers, florists and other expensive suppliers for fear the bride or groom will get cold feet and call off the wedding. Weddingsurance Change of Heart coverage will recover expenses if the bride or groom experiences cold feet during the planning process. Cold feet is not the only thing that can ruin a wedding. Inclement weather; flood, fire or power failure at the event venue; lost or damaged private event attire; and vendors such as photographers or florists who fail to show up can all spell disaster for a wedding, bar mitzvah, anniversary or birthday celebration. Fortunately, Fireman’s Fund’s private event coverage will protect against the financial loss. The enhanced policy includes:
Weddingsurance and other private event coverage can be purchased online, up to 24 hours before the event at www.rvnuccio.com. Rather than purchasing pre-packaged policies, customers can tailor their policies by selecting the coverage and limits they need from a menu of nine coverages. The minimum premium is $95, considerably less than that of other private event coverages. Weddingsurance is offered exclusively by RV Nuccio & Associates, Inc. and is underwritten by Fireman’s Fund Insurance Company, www.ffic.com/privateevents ® 2007 Fireman's Fund Insurance Company, Novato, CA 94998 Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. CNA to Withdraw Pacific Exchange Listing, Retain New York Stock Exchange Listing CHICAGO--(BUSINESS WIRE)--CNA Financial Corporation (NYSE:CNA) today announced plans to withdraw the listing of its common stock from NYSE Arca, Inc., formerly the Pacific Exchange. CNA’s common stock will continue to be listed on the New York Stock Exchange. CNA has decided to withdraw its listing from NYSE Arca, Inc. to streamline operations and eliminate duplicative administrative requirements inherent with dual listings as a result of the NYSE Group’s merger with Archipelago Holdings, the parent company of NYSE Arca. The withdrawal is expected to be effective within the next month. CNA does not believe withdrawing its listing from NYSE Arca, Inc. will have any impact on the liquidity of its stock. CNA is advised that NYSE Arca will continue to trade CNA stock on an unlisted trading privilege basis. www.cna.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. MetLife to Permit Rule 10b5-1 Trading Plans NEW YORK--(BUSINESS WIRE)--MetLife, Inc. (NYSE: MET) announced today that members of its board of directors and certain employees may now enter into Rule 10b5-1 trading plans, which are permitted under the Securities Exchange Act of 1934. These individuals, including senior executives and others who regularly have access to material nonpublic information, may now establish prearranged trading plans for future purchases or sales of MetLife, Inc. common stock (or the exercise of stock options). These individuals must not be aware of material, nonpublic information at the time the plan is established. Once a plan is established, trades may take place pursuant to the plan regardless of whether an individual is aware of material, nonpublic information. www.metlife.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. Safeco Announces $250 Million Share Repurchase SEATTLE, May 4 /PRNewswire-FirstCall/ -- Safeco (NYSE: SAF) today announced it has executed a Rule 10b5-1 trading plan to purchase up to $250 million of its outstanding common stock. A Rule 10b5-1 plan allows Safeco to repurchase its shares during periods when the company would normally not be active in the market because of its own internal trading windows. Since 2003, Safeco has repurchased 39.3 million shares, or 28.4 percent of its then outstanding shares, at a total cost of $2.1 billion. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. Health Care Leaders Urge Legislature to End State's Code Blue Health Care Crisis by June 1 "This is Truly A Matter of Life and Death" LANSING, Mich., May 3 /PRNewswire-USNewswire/ -- Michigan hospital officials, physicians, long-term care and mental health providers gathered in front of the state Capitol today to implore the Legislature to immediately solve the state's budget crisis and reject staggering Medicaid cuts that will take effect June 1 absent a budget solution. The cuts are being proposed at a time when Michigan's Medicaid caseload continues to hover at near record highs of 1.6 million people -- a staggering 41 percent increase since 1999. "We serve extremely vulnerable and critically ill individuals in the community every day. We are their safety net," said Dan Russell, Chief Executive Officer of the Genesee County Community Mental Health. "It is inevitable, if sufficient revenues and a budget solution do not prevent the proposed cut on June 1, the mentally ill and developmentally disabled will bear the brunt of the Legislature's inaction." Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. Pennsylvania Should Preserve and Strengthen Governor's Health Proposal, Analyst Advises PITTSBURGH, May 3 /PRNewswire-USNewswire/ -- Pennsylvania lawmakers should preserve and strengthen key elements of Governor Rendell's health care proposal, an analyst from the Center on Budget and Policy Priorities told the House Insurance Committee today. The proposal, now before the House as the Pennsylvania Health Care Reform Act, aims to expand access to health care and improve quality while reducing health care costs. The House Insurance Committee will conclude hearings on the plan later this month, and the House is expected to take the plan up before it recesses at the end of June. Judith Solomon's full testimony is available at: http://www.cbpp.org/5-3-07sfp-testimony.htm. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. JCG Group Conferences, Mintel Comperemedia, and The Credo Group (a TRANZACT Company) present the 5th Annual Insurance Direct Marketing Forum & e-Commerce Assembly: Integrated Marketing April 26, 2007 (Middletown, DE) – On September 10-11, 2007, hundreds of insurance direct marketers will gather for the 5th Annual Insurance Direct Marketing Forum & e-Commerce Assembly to be held at the Loews Vanderbilt Hotel in Nashville, Tennessee. The 5th Annual Forum’s Institutional sponsors include the Society of Actuaries, LIMRA, Target Marketing magazine, Best’s Review, and “Insurance Newscast.” Members and readers of the sponsors receive a $125.00 discount from the regular Conference Delegate Fee. A total of 27 insightful and topical sessions, idea exchange round tables, and advanced direct marketing techniques round out the two and half day event. Every session is crisp and relevant to the insurance direct marketing concept. Most importantly, the Forum fills a significant gap in professional development and training for insurance direct marketing practitioners. For more information, please call 1-866-450-7005 or visit www.jcg-ltd.com to register online. The regular delegate fee for the Forum is $995.00. Readers or members of our sponsors will receive a $125.00 discount. Plus, those who register before August 18th will save an additional $125.00. The limited-attendance Advanced Insurance Direct Marketing Symposium is an additional $295.00. For exhibitor information, please contact Ginny Simon at 610-889-2036 or gsimon@projectmarketinginc.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Groundbreaking Proposals For Increasing Retirement Savings To Be Released By Diverse Coalition Of Experts WASHINGTON – The Conversation on Coverage, an unprecedented public policy initiative to expand retirement savings, will release its final recommendations on May 11 at the National Press Club. Covering the Uncovered: The Final Report of the Conversation on Coverage offers innovative common-ground proposals to increase pensions and retirement savings for American workers – particularly low- and moderate-income wage earners. The detailed proposals include:
Convened by the Pension Rights Center, the Conversation on Coverage brought together more than 45 experts of differing perspectives from financial institutions, retiree organizations, business groups, labor unions, and academia. Covering the Uncovered represents the culmination of this six-year effort. WHAT: Release of Covering the Uncovered: The Final Report of the Conversation on Coverage WHERE: National Press Club, Zenger Room, 529 14th St. NW, 13th Floor, Washington, DC, WHEN: Friday, May 11, 2007, 9:30 a.m. CALL-IN INFORMATION: Reporters who cannot attend the press conference can participate by phone. Call-in number is 800-377-8846. Participant code is 71755048#. If you have any problems, call 877-709-8255. The Conversation is supported by the Ford Foundation, the Annie E. Casey Foundation, The Atlantic Philanthropies, AARP, AFL-CIO, the American Academy of Actuaries, the American Benefits Institute, the American Council of Life Insurers, ASPPA Pension Education and Research Foundation, the Employee Benefit Research Institute, Fidelity Investments, the International Association of Machinists and Aerospace Workers, MetLife, the National Committee to Preserve Social Security and Medicare, Nationwide, Prudential Financial, the Retirement Security Project, the U.S. Chamber of Commerce, and Vanguard. 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. Pioneer in Disease Management Selects Medical Care Corporation's Memory Assessment Technology IRVINE, Calif., May 3 /PRNewswire/ -- Medical Care Corporation's memory assessment technology has been selected by Secured Independence, Inc., a leading provider of wellness and disease management solutions for the senior market, for Secured Wellness(SM) LTCI, the first wellness and disease management solution customized for the long term care insurance (LTCI) industry. Chosen for its unsurpassed accuracy, Medical Care Corporation's technology enables identification of memory loss with over 97% accuracy. Using advanced statistical methods and medical informatics, Medical Care Corporation's memory assessment technology differentiates memory loss due to normal aging from memory loss due to underlying medical conditions. These conditions include Alzheimer's disease and related disorders (ADRD) as well as conditions such as depression and B12 deficiency. Proactively identifying and managing such medical conditions through Secured Wellness(SM) LTCI promotes wellness for LTCI policy holders. The face-to-face assessments for this Secured Independence, Inc. program will be delivered through a partnership with LifePlans Inc., a risk management provider for the LTCI industry. For Health Care Providers: www.mccare.com; For Patients and Caregivers: www.preventad.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. SNL Financial Joins Research Entitlements Consortium London, U.K. (May 3, 2007) - The Research Entitlements Consortium (REC), a group of buy-side firms, brokers and information providers devoted to improving investment research distribution, has announced the addition of SNL Financial to its membership, effective immediately. Marking its 20th anniversary this year, SNL Financial is a leading multisector-focused information and research firm in the financial marketplace. SNL joins 26 other steering and associate members of the consortium, including Bank of America, Credit Suisse, Goldman Sachs, Merrill Lynch, UBS, Morgan Stanley and many more. www.researchentitlements.net. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Advisen Exceeds One Million Insurance Programs For Benchmarking New York, April 30, 2007 – Advisen, Ltd., the leading provider of technology and data to the global commercial insurance industry, today announced that its benchmarking program database contains more than one million insurance programs. Advisen’s Program Benchmarking application compares current and historical premiums, limits and retentions directly, as well as relative to exposure and demographic values, against peer groups assembled from more than 237,000 commercial insurance buyers. www.advisen.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Pollster Zogby to Keynote at Independent Insurance Agents & Brokers of NY Annual Business Meeting (DeWitt, New York, April 30, 2007) — The keynote speech of Zogby International President and CEO John Zogby and the election of officers and board directors will highlight the May 11 Annual Business Meeting of the Independent Insurance Agents & Brokers of New York, Inc. In addition, the expected installation as IIABNY chair of Stephen R. Zogby, the pollster’s cousin and executive vice president of Scalzo, Zogby & Wittig, Inc. in New Hartford, New York, will precede the keynote address. This year’s assembly marks IIABNY’s 125th anniversary, and will include speeches from a state insurance regulator and national industry leader. The not-for-profit trade association’s annual gathering will take place at Turning Stone Resort & Casino in Verona, New York. FOR MORE INFORMATION, SUCH AS ATTENDING OR SCHEDULING AN INTERVIEW DURING IIABNY’S ANNUAL EVENT, contact Bruce Barry at (800) 962-7950, ext.223 or Tim Dodge at (800) 962-7950, ext. 229. The complete schedule is available online at http://ny.iiaa.org/ABM/Fullreg07.pdf. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. Long Term Care Insurance Fights African Poverty Atlanta, Georgia , April 30 – Can long term care insurance indirectly improve the lives AIDS-plagued Africans? Many in the LTC industry seem to think so. Five organizations have pledged contributions to the Rabuor Village Project, a comeback model for villages throughout Africa. They join LTC Financial Partners (LTCFP), the nation's most experienced long term care insurance brokerage, which announced on December 1 that it would contribute 2% of its profits each year to the Rabuor Village Project. The organizations following LTCFP's example include John Hancock and MetLife, both of which offer long term care insurance protection. The other three are Online Insurance Services (Olins) of Salt Lake City, Utah; Roeser Resources of Kirkland, Washington; and EraNova Institute of Mountain Lakes, New Jersey. Olins, Roeser Resources, and EraNova, which offer support services to the LTC industry, have each pledged a portion of current profits to the Rabuor Village Project. John Hancock and MetLife have pledged "very gratifying amounts," says Amy Pollock, Georgia-based Partner of LTC Financial Partners. Companies and individuals wishing to help will find information at http://www.ltcfp.us/rabuorvillage. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. Employers Reveal Hidden Value of Compensation and Benefits Packages with TotalCompBuilder Software ROCKLIN, CA / April 30, 2007 – In an age where employees value their benefits as highly as their paycheck, communicating those benefits can be crucial to retaining top talent. This reality is behind the introduction of TotalCompBuilder.com, the first web-based, on-demand total compensation statement software for employers. Developed by TotalRewards Software, two premiums editions are available – Professional and Enterprise. The two full-featured premium editions start at $600 per year per client. Media Contact: Ray O’Donnell, TotalRewards, Software (916) 632-1000, x202 Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. Insurance Agents Are Like Toasters We work in a unique industry – one in which insurance agents are like toasters. Let me explain… Everyone owns and uses at least one small appliance at home. It might be a toaster, a garage door opener or a microwave oven. No doubt it’s something we use every day. And yet, we can’t recall the brand name of the appliance. We all know what it looks like and how it operates, but generally can’t remember who the manufacturer is… until it breaks. When it breaks, we check to see what brand of “widget” it is and whether repair or replacement is covered. We decide whether we want to purchase the same brand or try a different brand altogether. It takes a problem to draw our attention to the brand – and until that time, since we aren’t really aware of the brand we’re using, one brand is as good as another! Insurance agents are essentially like toasters. We’re generally not thought of by policyholders until something breaks – that is, until there’s a claim. The key to being remembered by your clients is to have a point of differentiation and to nurture an ongoing relationship. These two concepts will allow any insurance or financial services professional to boost their rate of retention, improve client loyalty, and generate more client referrals. Written by Michael Beck, “The Insurance & Advisor Coach”. Michael, an Executive Coach and Recruiting Activist, helps insurance and financial professionals succeed faster and easier. He can be reached at 866-385-8751 or mbeck@theinsurancecoach.com. Permission to reprint with full attribution. © 2007 Exceptional Leadership, Inc. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. The Lost Art of Persuasion: Drop the PowerPoint® Crutch—and Win Over Even the Toughest Group Presenters from salespeople to CEOs have embraced PowerPoint, but they're using it incorrectly and undermining their own messages. Paul LeRoux, author of Visual Selling, offers six tips for regaining control and delivering presentations that truly persuade. Hoboken, NJ (May 2007)--If you present for a living--whether you're a CEO selling your ideas to the board or a salesperson trying to win new business--your job is tougher than ever. You face relentless competition. People are bombarded with messages from the media, the Internet, and other sources. It's getting harder and harder to break through the clutter, yet that's what you must do in order to persuade your audience. And ironically, in a time when you most need to hit your prospects with a powerful pitch, you're likely to fall back on an ineffective crutch: PowerPoint. "Sellers have become projectionists, throwing words onto a screen while listeners read ahead and sellers plod behind, mouthing what's already been displayed," says LeRoux, coauthor (along with Peg Corwin) of Visual Selling: "PowerPoint's electronic barrage of words, bullet points, and sentences threatens to turn the art of persuasion into a lost art." Interestingly, says LeRoux, presenting your ideas with images rather than text says four important things about you: www.twainassociates.com Visual Selling: Capture the Eye and the Customer Will Follow (Wiley, April 2007, ISBN-10: 0-4717936-1-2, ISBN-13: 978-0-4717936-1-8, $24.95) is available at bookstores nationwide, from major online booksellers, and direct from the publisher by calling 800-225-5945. In Canada, call 800-567-4797. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 29. Bank of America sues over LaSalle sale Fri May 4, 2007 11:17AM EDT NEW YORK (Reuters) - Bank of America Corp. (BAC.N: sued Dutch bank ABN AMRO (AAH.AS: on Friday over the No. 2 U.S. bank's agreement to buy ABN's U.S. unit, LaSalle, seeking an injunction barring the unit's sale to any other party. Bank of America also said in the lawsuit, filed in U.S. District Court in Manhattan, that ABN had been "unjustly enriched" by billions of dollars because of the premium that Bank of America agreed to pay in its $21 billion offer for LaSalle and sought unspecified money damages. © Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 30. Bank of America to buy into firm started by ex-CIO NEW YORK, May 4 (Reuters) - Bank of America Corp. (BAC.N: said Chief Investment Officer Ian Banwell resigned to launch a hedge fund firm in which the bank will take a minority stake. Walter Muller, the bank's quantitative finance executive, was named to replace Banwell, the No. 2 U.S. bank said in a statement. Bank of America will also seed several of the funds at Banwell's new firm, called Round Table Investment Management. The bank's minority stake in the firm will be non-voting and it will serve as an observer on Round Table's advisory board. Banwell said in a separate statement that the fund company would combine research-based investing with quantitative and macro-based strategies. Reporting by Aniruddha Basu in Bangalore and Christian Plumb in New York, Editing by Dave Zimmerman, (C) Reuters 2007. All rights reserved. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 31.
The Government Accountability Office (GAO)
today released the following reports and testimonies: Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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