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For additional information please contact The American Worker Plans at 866-215-9300 or email us at info@theamericanworker.com. web: www.theamericanworker.comFor agent use only. Not for public distribution. Form AWP-3-7-08 Daily Quote: “Though no one can go back and make a brand new start, anyone can start from now and make a brand new ending.” - - Carl Bard
Positions available in the following locations: Florida, Colorado, New York, South Carolina, Texas, California, Utah, Oklahoma, Arizona, Illinois, Wisconsin, Kentucky, Tennessee, Mississippi, Virginia, Ohio, Indiana and DC.Because of growing opportunities to place voluntary life, health and disability insurance products through workplace marketing, Allstate Workplace Division is expanding its Field Sales Management team. Qualified candidates are insurance professionals who know the workplace market and have strong broker relationships. We are looking for a career driven individual with:
A College degree, CLU/ChFC designation desired. Travel required. Allstate Workplace Division is one of America’s fastest growing companies dedicated to developing quality life, health, and disability insurance products offered at the workplace. Our consistent managed growth has positioned us today for expansion in new markets and deeper penetration in existing markets. We are a company that takes great pride in the manner in which we operate. We deliver a solid financial foundation, competitive compensation packages and quality products that respond to market need and most of call; we deliver the integrity of a promised kept. Additional InformationPosition Type: Full Time, Employee Equal Opportunity Employer M/F/V/D; Pre-employment drug screening. Contact InformationIf these qualifications and benefits fit your career goals please FAX your resume to (904) 992-2732. Allstate Workplace Division, 1776 American Heritage Life Drive, Jacksonville, Florida 32224 1. NCOIL Reaffirms OFC Opposition, Dialogues With Congress Washington, DC, March 5, 2008 — The National Conference of Insurance Legislators reaffirmed its opposition to optional federal charter (OFC) legislation and unanimously approved a Model State Resolution in Opposition to S. 40/H.R. 3200, the National Insurance Act of 2007 during its Spring Meeting here on Saturday, March 1. NCOIL legislators also met with key Congressional leaders to describe various modernization efforts ongoing at the state level. NCOIL President Representative Brian Kennedy (RI) said, “We must continue to engage our Congressional colleagues to apprise them of state successes in modernizing our insurance markets. States are making great strides regarding product approval and speed-to-market, agent and company licensing, rate deregulation, and market conduct. The voice of the states—which is unanimous in opposing federal insurance oversight—needs to be as loud as those of OFC advocates who seek limited oversight and a bifurcated insurance system for their own benefit and without any consumer demand from our constituents.” The resolution, which was sponsored by Rep. Kennedy, says that an OFC would “promote ambiguity and confusion,” “allow companies to opt out of state insurance regulatory oversight and evade important state consumer protections,” and create a federal mechanism that “cannot by its very nature, respond, as state regulation does, to states’ individual and unique insurance markets and constituent concerns.” The resolution also provides a template for states to transmit to their Congressional delegations data regarding premium tax revenue that is at risk in an optional federal charter scheme. It states, “S. 40/H.R. 3200 does not fully guarantee state premium tax revenues for a long-term period of time and has the potential to draw premium tax revenue from the states.” The resolution was unanimously adopted by the NCOIL State-Federal Relations Committee on February 29. During the NCOIL meeting, legislators visited with several Members of Congress to discuss OFC concerns and state modernization efforts. Representative George Keiser (ND), NCOIL Secretary, said the meetings “provided an opportunity for state legislators to describe to our federal colleagues the possible implications of OFC legislation, including the loss of critical state premium tax revenue and insurance fees that are not only used to fund state insurance departments, but that also are added to the state general fund to pay for health care and educational improvements, among other things.” NCOIL legislators noted that they had aired their concerns to several members of the House Financial Services Committee, including Chairman Barney Frank (D-MA); Ranking Member Spencer Bachus (RAL); and Kathleen Mellody from Capital Markets Subcommittee Chair Paul Kanjorski’s (D-PA) office. NCOIL also met with Senate Banking, Housing, and Urban Affairs Committee members Charles Schumer (D-NY) and Elizabeth Dole (R-NC), among others. www.ncoil.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Model State Resolution in Opposition to S. 40/H.R. 3200, the National Insurance Act of 2007 Adopted by the NCOIL Executive Committee on March 1, 2008. Sponsored by Rep. Brian Kennedy (RI), NCOIL President WHEREAS, regulation, oversight, and consumer protection have traditionally and historically been powers reserved to state governments under the McCarran-Ferguson Act of 1945; and WHEREAS, state legislatures are more responsive to the needs of their constituents and the need for insurance products and regulation to meet their state’s unique market demands; and WHEREAS, many states, including [State], have recently enacted and amended state insurance laws to modernize market regulation and provide insurers with greater ability to respond to changes in market conditions; and WHEREAS, state legislatures, the National Conference of Insurance Legislators (NCOIL), the National Association of Insurance Commissioners (NAIC), and the National Conference of State Legislatures (NCSL) continue to address uniformity issues between states by the adoption of model laws that address market conduct, product approval, agent and company licensing, and rate deregulation; and WHEREAS, initiatives are being contemplated by certain members of the United States Congress that has the potential to destroy the state system of insurance regulation and create an unwieldy and inaccessible federal bureaucracy—all without consumer and constituent demand; and WHEREAS, such initiatives include S. 40/H.R. 3200—the National Insurance Act of 2007—proposed optional federal charter legislation that would bifurcate insurance regulation and result in a quagmire of federal and state directives that would promote ambiguity and confusion; and WHEREAS, S. 40/H.R. 3200 would allow companies to opt out of state insurance regulatory oversight and evade important state consumer protections; and WHEREAS, the mechanism set up under S. 40/H.R. 3200 does not, and cannot by its very nature, respond, as state regulation does, to states’ individual and unique insurance markets and constituent concerns; and WHEREAS, S. 40/H.R. 3200 has the potential to compromise state guaranty fund coverage, and employers could end up absorbing losses otherwise covered by these safety nets for businesses affected by insolvencies; and WHEREAS, S. 40/H.R. 3200 would ultimately impose the costs of a new and needless federal bureaucracy upon businesses and the public; WHEREAS, many state governments derive general revenue dollars from the regulation of the business of insurance, including nearly $14 billion in premium taxes generated in 2006—of which the state of [State] generated [dollar amount]; and WHEREAS, S. 40/H.R. 3200 does not fully guarantee state premium tax revenues for a long-term period of time and has the potential to draw premium tax revenue from the states; and NOW, THEREFORE BE IT RESOLVED that the [State] Legislature joins the National Conference of Insurance Legislators in expressing its strong opposition to S. 40/H.R. 3200 and any other such federal legislation that would threaten the power of state legislatures, governors, insurance commissioners, and attorneys general to oversee, regulate, and investigate the business of insurance, and to protect consumers; and BE IT FURTHER RESOLVED that a copy of this resolution be printed and forwarded to members of the [State] Congressional delegation in the United States House and Senate in Washington, DC and also to members of the United States Senate Committee on Banking, Housing and Urban Affairs and the United States House of Representatives Committee on Financial Services. © National Conference of Insurance Legislators Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Merrill Quits Subprime Lending, Cuts 650 Jobs Thu Mar 6, 2008 4:10am EST NEW YORK (Reuters) - Merrill Lynch & Co (MER.N: ) on Wednesday said it will eliminate 650 jobs as it stops making subprime mortgages through its First Franklin Financial Corp unit. New York-based Merrill said it is quitting the subprime lending business because of the deteriorating market for home loans, which go to people with poor credit. It said it will try to sell Home Loan Services, a unit of First Franklin that handles billing and collections. Merrill expects to incur $60 million of charges related to First Franklin, mainly for severance payments and closing offices, with about half the amount in the first quarter. Merrill bought First Franklin and much of its loan portfolio from Cleveland-based National City Corp (NCC.N: ) for $1.3 billion in December 2006. First Franklin's demise follows a $9.83 billion fourth-quarter loss at Merrill, the worst quarter in its 94-year history, reflecting about $16 billion of mortgage-related write-downs and adjustments. Ex-Chief Executive Stanley O'Neal had hoped First Franklin would offer Merrill a stream of home loans it could package and sell as securities. But that plan backfired as U.S. housing prices fell, borrower defaults soared, and investors stopped buying many home loans they no longer considered safe. O'Neal was ousted as Merrill's chief executive in October, and replaced by John Thain, the former chief of NYSE Euronext(NYX.N: ) (NYX.PA: ). (Editing by Jeffrey Benkoe, Leslie Gevirtz © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. House Ok’s Bill Backing Mental Health Coverage Thu Mar 6, 2008 10:10am EST WASHINGTON (Reuters) - A bill to require health insurers to provide the same level of coverage for mental illness and drug and alcohol addiction as for other ailments was passed on Wednesday by the U.S. House of Representatives. The White House made clear its opposition to the bill, saying it favored a less-expansive version passed unanimously by the Senate last September. Known as mental health parity, the idea is making progress in Congress after a decade-long crusade by advocates for the mentally ill who say insurers can shortchange people with mental conditions ranging from depression to schizophrenia. The House passed the bill on a vote of 268-148. It calls for more expansive mental health coverage requirements than the Senate bill. Opponents said it could actually decrease mental health coverage by driving employers frustrated with its onerous burdens to drop mental health insurance altogether. The bill now goes to a House-Senate conference committee for lawmakers to iron out differences in the two versions before legislation can be offered for final congressional passage and sent to President George W. Bush. It would not force health plans to provide mental health coverage, but would compel those that offer benefits for mental illness and substance addiction treatment to do so on the same terms as medical and surgical care for other conditions. "The administration believes the Senate bill strikes the necessary balance of treating mental illness with the same urgency as physical illnesses without significantly increasing health care costs," the White House said, pointing to about $3 billion in new costs stemming from the House provisions. The White House also objected to language in the House bill that would impose new restrictions on doctor-owned hospitals, which make up a small percentage of U.S. hospitals. The measure would stop doctors from referring people for treatment to hospitals in which they have an ownership stake. 'NO SHAME' "Mental illness -- illness of the brain -- must be treated just like illness anywhere else in the body," said House Speaker Nancy Pelosi, a California Democrat. "There is no shame in mental illness. The great shame would be if Congress did not take action to ensure that individuals with mental health illnesses and addictions are given the attention, treatment and resources they need to lead a healthy life," Pelosi added. The chief sponsors of the House bill are Minnesota Republican Rep. Jim Ramstad and Rhode Island Democratic Rep. Patrick Kennedy, whose father, Massachusetts Democratic Sen. Edward Kennedy, is a sponsor of the competing Senate measure. The bill would not permit insurers to charge higher co-payments and deductibles or impose other different standards on mental health and addiction care. Business groups favor the Senate bill, arguing the House version would mandate expensive new treatments and hike health care costs. Some mental health advocates including the National Alliance on Mental Illness also back the Senate version, saying it is the best hope for getting a bill into law this year. Under the House bill, insurers providing mental health coverage would do so for all mental and addiction disorders in the American Psychiatric Association's exhaustive Diagnostic Statistical Manual. Bill opponent Rep. Phil Gingrey, a medical doctor and a Georgia Republican, said that would mean insurance plans would have to cover exotic mental conditions like "transvestite fetishism" that employers would not want to cover. (Editing by Peter Cooney) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. Insurers Can Learn From Subprime: EU's Mccreevy Thu Mar 6, 2008 7:05am EST BRUSSELS (Reuters) - The European Union's 7 trillion euro ($10.7 trillion) insurance sector can learn lessons from the financial market turmoil even if banks were more seriously affected, the bloc's top market regulator said. EU Internal Market Commissioner Charlie McCreevy said on Thursday his Solvency II proposals to shake up how EU insurers cover risk may need amending in light of the turbulence that began last August due to defaults in U.S. home loans. Solvency II aims to allow big insurers to use capital more efficiently when covering risks on their books, also ensuring policyholders are still protected properly. A similar set of rules for banks, known as Basel II, is already being revamped in light of the supbrime crisis even though it was fully introduced as recently as January. "In framing Solvency II, while we cannot copy Basel II, we can draw some lessons from the impact of recent financial turmoil on our initial perception of some of the weaknesses inherent within it," McCreevy told a conference organized by the EU's top insurer lobby CEA. He also welcomed moves by banks this week to propose guidelines on pay and bonuses, saying the adoption of a similar code by insurers would be a good thing. (Editing by Dale Hudson) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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6. Lloyds Joins Fray With Insurance Comparison Site LONDON, March 6 (Reuters) - Lloyds TSB (LLOY.L: ) stepped into the cut-throat insurance price comparison market on Thursday and launched its own site for consumers to compare motor premiums, going head-to-head with Moneysupermarket and Confused.com. With the site -- insurance.co.uk -- British bank Lloyds becomes the first high street UK bank to go it alone in the online insurance comparison market. Royal Bank of Scotland (RBS.L: ), Britain's biggest car insurer, is already in the motor comparison market, but through a venture with supermarket Tesco (TSCO.L: ), Tesco Compare.com. Lloyds -- which already sells car, home, pet and other general insurance under its own brand -- said its site would offer policies from a panel of 35 insurance providers and would search for requirements beyond price, to include other elements of cover that consumers require. (Reporting by Clara Ferreira-Marques, editing by Will Waterman) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. Inter-Insurance Company Arbitration Sets New Record In 2007 - More Than 477,000 Cases Resolved, Arbitration Forum Reports Introduction of E-Subro Hub Will Generate Even Greater Efficiencies TAMPA, FL , March 6 – Arbitration Forums, Inc. (AF), the nation’s largest provider of inter-insurance dispute resolution services, resolved more than 477,000 inter-company claims disputes valued at over $2.2 billion in 2007, a new record, said W. Russ Smith, president and chief executive officer of AF, which has over 4,000 carrier and self-insured members nationwide. Smith noted that the growing interest in arbitration programs could be attributed to the ease of use of electronic filing through the Internet and e-mail to further speed the arbitration process. He pointed out that nearly 90 percent of arbitration filings in 2007 were made electronically, almost double the percentage of just two years earlier. Smith said AF’s most recent innovation, E-Subro Hub, expanded AF’s offerings beyond traditional arbitration services by providing members with a single web-based platform from which they can interactively issue and respond to subrogation demands, manage electronic demand packages as well as file and respond to arbitration cases. “The heightened company focus on saving expense dollars coupled with the industry’s adoption of the E-Subro Hub will result in reduced cycle times and more efficient delivery of our services,” said Smith. Disputes leading to arbitration typically arise when insurance or self-insured companies believe their insureds are not at fault or if they disagree as to the percentage of liability or the amount of damages, Smith explained. More than 80 percent of inter-company arbitration disputes involve auto collisions. Founded in 1943, AF is the nation’s largest provider of inter-insurance dispute resolution services and a longstanding leader in innovation and integrity Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. Alleged Multi-Million Dollar Fraud Ring Target of Federal Lawsuit Allstate Insurance Company Uncovers Suspected Five-State Scheme IRVING, Texas, March 6 /PRNewswire-FirstCall/ -- An Arlington, Texas based chiropractic company and its owner lead a list of 66 defendants in a federal fraud lawsuit filed Thursday in Dallas. The suit alleges deception and coercion were used against people involved in automobile accidents at clinics in Texas, Ohio, Indiana, and Alabama. Allstate Insurance Company filed the suit in the U.S. District Court for the Northern District of Texas against Chiropractic Strategies Group, Inc., its owner Michael Kent Plambeck, related law office management companies, attorneys, telemarketers, and others involved in the alleged fraud scheme. Allstate seeks in excess of $10 million. The lawsuit was filed following an extensive investigation by Allstate's Special Investigative Unit, and seeks reimbursement for the sums Allstate has paid in regard to allegedly fraudulent claims. The lawsuit allegations include violations of the Federal Racketeer Influenced and Corrupt Organizations Act (RICO), for which Allstate seeks treble damages and recovery of its attorney's fees and court costs. "Insurance fraud is a billion dollar business that costs the average consumer $300 in higher insurance premiums every year," said Edward Moran, Allstate assistant vice president in charge of the company's Special Investigation Unit. "Allstate is aggressively pursuing the fight against insurance fraud to protect consumers and help keep insurance costs down." According to the 67 page complaint, the organization solicits persons who have been involved in motor vehicle accidents through telemarketing, which includes calls from a telemarketing entity the organization operates in Kenner, Louisiana. The telemarketers promise the prospective patients a free examination, and at times falsely represent that they are representatives of "Allstate" or an "insurance company." Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. Independence Holding Company Announces Acquisition of $65 Million Life Block and Sale of Credit Segment by Madison National Life Insurance Company, Inc. STAMFORD, Conn.--(BUSINESS WIRE)--Independence Holding Company (NYSE: IHC) today announced that Madison National Life Insurance Company, Inc., IHC’s wholly owned subsidiary, has entered into an agreement to acquire a block of life insurance policies with approximately $65 million of life and annuity reserves. The acquisition is scheduled to close and be effective on April 1, 2008. Under the terms of the acquisition, Madison National Life will assume administration of the policies in the block beginning October 1, 2008. The block consists of approximately $34,000,000 of older, traditional life reserves and $31,000,000 of annuity reserves. www.independenceholding.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. Bysiewicz and Lembo Urge Businesses Not to Fall Victim to Phony Compliance Scheme Secretary of the State and Attorney General Investigate Progressive Business Publications Hartford: Secretary of the State Susan Bysiewicz and Connecticut Healthcare Advocate Kevin Lembo are warning Connecticut’s business community about a deceptive marketing campaign that falsely claims that there is a “new” requirement that employers purchase compliance posters or face fines up to $7,500. In addition, Bysiewicz and Attorney General Richard Blumenthal have launched an investigation to determine if Progressive Business Publications (PBC) of Malvern Pennsylvania, the company responsible for the unauthorized solicitations is operating legally in Connecticut. “Today we are warning Connecticut business owners – do not be duped by the scare tactics of this unauthorized campaign and these phony “new” requirements,” said Bysiewicz. “My office has launched an investigation to determine if Progressive Business Publications is operating legally in Connecticut and I applaud Attorney General Blumenthal for his investigation of PBP for potential fraud. We urge anyone who has fallen prey to this scam to contact our offices.” Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 11. National Insurance Watchdogs May Need EU Remit Thu Mar 6, 2008 12:10pm EST By Huw Jones BRUSSELS, March 6 (Reuters) - The remit of national insurance watchdogs needs widening to make European Union proposals to streamline supervision of cross-border groups work, a senior regulator said on Thursday. The European Commission's Solvency II draft law proposes streamlining oversight of cross border insurers like Aviva (AV.L: ), Generali (GASI.MI: ) and Axa (AXAF.PA: ) that make up the bulk of premiums collected in the EU's 7 trillion euro sector. Many of these groups are based in states like Britain, Germany and France with subsidiaries across the 27-nation EU. EU states and the European Parliament have final say. © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. U.S. Household Wealth Dips For First Time Since 2002 Thu Mar 6, 2008 2:12pm EST WASHINGTON (Reuters) - The net wealth of U.S. households fell for the first time in five years during the fourth quarter last year as the value of real estate holdings and stocks weakened, the Federal Reserve said on Thursday. The U.S. central bank's "flow of funds" quarterly report showed the net worth of American households dipped to $57.72 trillion in the final three months of 2007 from a revised $58.25 trillion in the third quarter. The last time that quarterly net worth fell was in 2002, when it declined to $37.9 trillion in the third quarter from $39.6 trillion in the second quarter, the Fed said. Total U.S. debt, excluding the financial sector, rose at an adjusted 7.7 percent annual rate in the fourth quarter, slowing from a revised 8.8 percent rate in the third quarter. "In the fourth quarter, growth of home mortgage debt decreased to a rate of 5.5 percent -- the slowest quarterly pace since 1997 -- and consumer credit rose at an annual rate of 4 percent," the Fed said. The decline in household net worth was evident both in home values and in widely held shares in mutual funds, pointing to significant sources of stress for consumers. The value of real estate holdings fell to $22.48 trillion in the fourth quarter from $22.58 trillion in the third quarter while mutual fund shareholdings dipped to $5.08 trillion from $5.20 trillion in the third quarter. The report also showed that the percentage of equity that Americans have in their homes sank to the lowest level since 1945. Homeowners' percentage of equity fell to 47.9 percent in the closing quarter last year from 48.9 percent in the third quarter and 49.6 percent in the second quarter. The Fed said it was the first time since 1945 that the percentage of equity Americans hold in their homes has dropped below 50 percent, though it has been trending downward for some time. That meant that the percentage of debt that people still owed on their homes represented more than half its value, possibly because of large mortgages on more costly homes. But it could also reflect the fact that in recent years many people drained equity out of their homes in the form of home-equity loans to keep up their spending. (Reporting by Glenn Somerville; Editing by Chizu Nomiyama) © Reuters 2008 All rights reservedReturn to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. Home Foreclosures Soar, Jobless Remain Unemployed Thu Mar 6, 2008 12:53pm EST By Joanne Morrison WASHINGTON (Reuters) - U.S. home foreclosures hit a record late last year amid a shakedown in the subprime mortgage market that is taking its toll on the broader economy and forcing many of the nation's unemployed to remain on jobless benefits, data on Thursday showed. The Mortgage Bankers Association on Thursday said too that the delinquency rate hit its highest since 1985 in the final three months of 2007. While the rate of failing loans swelled across most mortgages, it was led by a growing wave of subprime borrowers unable to make payments. Added to that, the Labor Department reported that the number of workers remaining on jobless benefits is holding at the highest level in nearly two and a half years. For retailers, the story also is not so bright as they posted mixed February sales results on Thursday, with some signs of struggle as cash-strapped consumers favored outlets where they could save money. "The epicenter of the U.S. economy's current predicament is housing," said John Lonski, chief economist at Moody's in New York. © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. AIA Supports Louisiana Auto-Related Bills BATON ROUGE, LA., March 6, 2008 – The American Insurance Association announced today its support for a package of bills introduced by the Louisiana Property and Casualty Insurance Commission designed to improve safety on Louisiana road ways. “While several of the elements in these bills have been considered in the past, the measures remain important, and stand to make our roads much safer,” said John Marlow, assistant vice president, AIA Southwest Region. “There are many distractions on the roads, especially for young people, and these bills are a strong step toward helping them become safer drivers.” The Louisiana Property and Casualty Commission was charged with finding ways to reduce automobile accidents and has developed a package of five proposed bills for the 2008 Louisiana Legislative Session which is scheduled to begin March, 31, 2008. www.aiadc.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. AIR Estimates Insured Losses from Windstorm Emma at 750 Million to 1.3 Billion Euros BOSTON, March 5, 2008-- Catastrophe risk modeling company AIR Worldwide Corporation estimates insured onshore wind losses for Windstorm Emma will be between 750 million Euros and 1.3 billion Euros, with Germany and Austria accounting for more than half the total. On Saturday, March 1, Windstorm Emma tore across a wide swath of central Europe, including Germany, Austria, the Czech Republic, Belgium, the Netherlands, Switzerland and the U.K. (Note that AIR’s estimate does not include losses in the Czech Republic or the Baltic States.) The storm brought heavy rain and hurricane-force winds, which caused significant damage to residential buildings. It also disrupted highway, rail, and air traffic, prompted flood alerts in the Netherlands along the North Sea, and cut power to thousands of households—some of which were still without power Monday. In the aftermath of the storm, fifteen people were reported dead. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. 2007 LIMRA Survey Reports Strong Customer Service Ratings For The Third Straight Year For Colonial Life COLUMBIA, S.C. (March 7, 2008) – After three years of conducting quarterly customer satisfaction surveys, LIMRA International reports Colonial Life continues to receive strong ratings for service from the following customer groups: Policyholders For 12 quarters in a row, more than 90 percent of policyholders surveyed say they’re satisfied or very satisfied with the claims service they receive from Colonial Life. Specific responses from policyholders in the fourth quarter 2007 include: • More than 90 percent of policyholders say Colonial Life’s service representatives are knowledgeable, courteous and professional. In addition, they say it’s easy to make contact with a customer service representative. • Ninety-four percent of policyholders say their customer service call is answered promptly. • More than nine in 10 claimants say filing a claim is easy. They also like the automated call they receive from Colonial Life that lets them know their claim has been received and is being processed. In addition, almost all claimants say they’d recommend Colonial Life to others. Plan Administrators • Nearly all plan administrators surveyed say they’re satisfied with Colonial Life’s account services. • More than 90 percent of plan administrators say it’s easy to submit billing changes and billing requests are handled in a timely manner. • Plan administrators continue to give strong ratings to service representatives. They agree that service representatives are professional, easy to understand, courteous, caring and knowledgeable. “These surveys confirm we’re easy to do business with,” says Annaclair Kiger, Colonial Life’s senior vice president of customer service and information technology. “We use the information from the surveys to help make sure we’re doing a good job in meeting and exceeding customers’ service expectations. Providing quality customer service is one of our strengths in the marketplace, and we want to continue to be a service leader.” www.coloniallife.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. Symetra Brings Cost-Effective Health Benefits to Washington State Select Benefits ‘Fixed Payment Insurance’ Gives More Uninsured Workers Access to Doctors Bellevue, Wash. — (March 6, 2008) — Symetra Life Insurance Co. announced today an initiative to expand availability of its fixed payment group insurance policy in Washington state. Symetra’s fixed payment policy, called Select Benefits, lets employers provide previously uninsured workers with limited medical benefits for doctor’s office visits, wellness benefits, prescriptions and urgent care. The company’s statewide initiative follows the adoption of legislation that allows fixed payment insurance to be offered in Washington. Now, employers that previously had little or no affordable options for providing medical benefits to their employees can offer Select Benefits to all eligible workers. www.symetra.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. Ftwilliam.com announces the release of two new 403(b) plan documents. Milwaukee, WI March 5, 2008 – ftwilliam.com a leading provider of high quality plan documents and government forms software announced today the release of two new 403(b) plan documents updated with the 2007 final regulations. The company will now provide a full-scope 403(b) plan document with an ERISA/non-ERISA option that allows sponsors (including churches, non-profits, or public schools) to provide matching, non-elective contributions and elective deferrals. A limited-scope, non-ERISA 403(b) plan document which allows for elective contributions is also available. Both documents are updated with final regulations and include context sensitive help buttons, all forms and amendments, streamlined data import and export and extensive online error correction. The documents are included in the ftwilliam.com annual retirement plan document subscription or may be purchased on a per plan basis for $175/plan. The company plans to offer a webinar on March 13, 2008 at 11:00 AM CDT to introduce the new plan documents and go over all of the changes. The webinar will be hosted by Aimee Nash who is the most recent addition to ftwilliam.com's team of attorneys and paralegals. www.ftwilliam.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. UnitedHealthcare’s Golden Rule Enhances Health Plans with New Preventive Care & Prescription Drug Benefits, Competitive Rates UnitedHealthcare’s Golden Rule Insurance Company has introduced a new generation of health insurance plans for individuals and families with expanded preventive care and prescription drug benefits, a new deductible option and competitive rates. Launched this week, the new product portfolio is now available in 17 states, including Alabama, Alaska, Arizona, Arkansas, Iowa, Illinois, Maryland, Michigan, Mississippi, Missouri, Nebraska, Ohio, Pennsylvania, South Carolina, Tennessee, Texas and Wisconsin. Additional states are expected to be added in early summer. For more information on the new products, brokers can visit Golden Rule’s E-Store at www.goldenrulehealth.com/broker or call Golden Rule’s Broker Service Center at 800-474-4467. 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. AXA Equitable's 800-Pound Gorilla Gets Personal New York, NY (Feb. 28, 2008) — AXA Equitable Life Insurance Company's recognizable 800-pound gorilla is getting personal with visitors to the corporation's Web site, www.axa-equitable.com. While he usually acts as the conscience of America's 77 million Baby Boomers, the gorilla now speaks directly to consumers for the first time. Since launching the initial series of gorilla television advertisements in 2006, AXA Equitable has expanded his presence into print and online ads. In all cases, the gorilla encourages Boomers to address their retirement income needs, thereby raising awareness of annuities as a potentially valuable option. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. IIABNY Says Proposed Penalties will Punish Producers & Industry — Legislators Should Reject Dramatic penalties for license non-renewals as well as fee increases on auto insurance premiums will cost millions (DeWitt, New York, Mar. 5, 2008)—Proposed increases on insurance fines could literally force some agencies and brokerages out of business, says the Independent Insurance Agents & Brokers of New York, Inc. Although aimed at deterring wrongdoers, New York Gov. Eliot Spitzer’s 2008-2009 budget proposal contains across-the-board penalty increases that are so dramatic, they are out of proportion. IIABNY has opposed these proposals since the budget’s introduction, and calls on legislators to reject them. “Whether it’s the complexities of New York state licensing or simply agency personnel forgetful in their renewal procedures, an increased fine in the thousands of dollars could be financially destructive,” said IIABNY Chair Stephen R. Zogby. “The [New York State Insurance] Department’s system of birth date renewal should simplify the procedure, but will not be fully implemented for some years.” The not-for-profit trade association believes in punishing criminal intent in the insurance industry, but opposes dramatic increases in fines. www.iiabny.org. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. Indiana General Assembly Passes ‘Crash Tax’ Ban INDIANAPOLIS, March 5, 2008 – The American Insurance Association (AIA) today commended the Indiana General Assembly for passing a ban on accident response fees and urged Gov. Mitch Daniels (R) to sign the bill. “A fundamental purpose of government, and in part why taxes are even collected, is to provide basic services to citizens such as police response to an accident. Applying this fee onto law abiding insurance policyholders was simply unfair double taxation and the General Assembly is to be applauded for banning it,” said John Birkinbine, AIA assistant vice president, Midwest Region. ‘We’re hopeful Gov. Daniels signs this common sense bill and eliminates this extra ‘crash tax.’” Senate Bill 81, a bill that includes a ban on “Accident Response Service Fees,” was passed by the Indiana General Assembly with near unanimous support. The legislation prohibits local law enforcement agencies from charging a fee to accident victims for police response. If signed, Indiana will join Missouri and Pennsylvania in banning this ‘crash tax.’ “Most cities that have implemented these fees only go after citizens who have insurance. This double taxation is unfair to law-abiding citizens who purchase insurance as required by the state; meanwhile, individuals who are breaking the law by driving without insurance are not charged for these services. The right move is to ban such fees,” added Birkinbine. www.aiadc.org Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Market Barometer - February 2008 - February Rates Down 14% Property and Casualty insurance rates were down 14% in February on a composite basis, continuing a slight moderation in rate reductions. Richard Kerr, Founder and CEO of MarketScout, profiled the segments with the most aggressive and conservative pricing. “Premium reductions are strongest in the Service Contractor industry group. General Liability coverage for a service contractor with total premiums of $25,000 to $100,000 is the most price competitive segment of the US P&C market as of February 2008." Kerr also commented; "Rate reductions are moderating in a select group of industries and coverages. In particular, Oil and Gas contractors are not seeing price reductions as dramatic as what they enjoyed in 2007. Also, many state mandated Workers’ Compensation rate reductions were implemented in 2007 so premium reductions should moderate in 2008 unless insurers begin to aggressively apply credits thereby further reducing the ultimate premium.” www.marketscout.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. MediCall Files UR Plan with California Division of Workers’ Compensation Company’s Utilization Review Program now in production to facilitate quality healthcare for California injured workers Pleasanton, CA, March 5, 2008 – California based MediCall, a specialized healthcare services provider, today announced that it has filed its Utilization Review (UR) Plan with the California Division of Workers’ Compensation (DWC). The announcement coincides with MediCall going into production with its California UR program; designed with the goal of facilitating a cost effective provision of quality healthcare for California injured workers. www.medicall.us Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. Ambac Needs More Than $1.5 Billion Capital Raise - Analysts Thu Mar 6, 2008 8:22am EST (Reuters) - Hard-hit bond insurer Ambac Financial Group's (ABK.N: ) plans to raise at least $1.5 billion in new capital are not enough to fix its capital adequacy problem, analysts at Goldman Sachs and J.P. Morgan Securities said. "Our analysis of expected losses suggests that Ambac needs to raise $2.5 billion instead of the $1.5 billion announced," Goldman analyst James Fotheringham said. On Wednesday, the second-largest U.S. bond insurer had said it has begun a public offering of at least $1 billion of common stock and $500 million of equity units. New capital would give Ambac more funds to cover billions of dollars of claims it could face after insuring subprime mortgage bonds and other risky debt. (Reporting by Tenzin Pema in Bangalore; Editing by Pratish Narayanan) © Reuters 2008 All rights reservedReturn to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. Citigroup Made No Approach For Capital: Dubai Thu Mar 6, 2008 7:49am EST DUBAI (Reuters) - Citigroup Inc (C.N: ) has not made any approach to Dubai International Capital (DIC) seeking funds, the investment agency owned by the ruler of the Gulf Arab emirate said in a statement on Thursday. It also said it had never expressed an opinion on the investment merits or financial condition of Citigroup. The statement followed comments on Tuesday by DIC Chief Executive Officer Sameer al-Ansari regarding Citigroup's capital needs that helped knock the U.S. bank's shares to their lowest level in nine years. "We have not been privy to any non-public information about the company, neither has Citi approached Dubai International Capital for a capital raise," DIC said. Al-Ansari said on Tuesday it would take "a lot more money" to rescue New York-based Citigroup, which since November has raised about $30 billion of capital from Abu Dhabi, Kuwait and Saudi Arabia's Prince Alwaleed ID:nL041008. Abu Dhabi Investment Authority, a sovereign wealth fund owned by the world's fifth-largest oil exporter, last year bought a 4.9 percent stake in Citigroup, which has been hammered by write-downs linked to the U.S. subprime mortgage crisis. Abu Dhabi and Dubai are the two largest members of the United Arab Emirates federation, which has been reaping a windfall from record oil prices. The Kuwait Investment Authority said in January it would also invest $3 billion in Citigroup, which in 2007 suffered a record $9.83 billion fourth-quarter loss tied mainly to mortgage write-downs. DIC, which manages about $13 billion of assets, has invested in HSBC Holdings Plc (HSBA.L: ) and India's ICICI Bank (ICBK.BO: ). (Writing by James Cordahi; Editing by Catherine Evans) © Reuters 2008 All rights reservedReturn to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. EU Approves Allianz-Oekb Credit Insurance JV BRUSSELS, March 5 (Reuters) - French credit insurer Euler Hermes (ELER.PA: ), a unit of Allianz group (ALVG.DE: ), and the OeKB [OKB.UL] bank of Austria won permission from the European Commission on Wednesday for a joint venture in credit insurance. (Reporting by David Lawsky; Editing by Dale Hudson) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 29. Simmering Domestic Issues Face Next U.S. President WASHINGTON, March 6 (Reuters) - The next U.S. president will face long-simmering domestic problems that range from a weakening economy to ballooning health care costs and stubborn budget deficits. But an aging population will put growing pressure on Social Security and Medicare, as well as other parts of the federal budget, and pressing tax issues could mean the next president will arrive in the Oval Office with the inbox already full. Clinton wants to provide mandatory health insurance for all Americans and require large employers to provide health insurance or help pay for it. Subsidies for the poor would be provided, along with small-business tax breaks. Obama proposes creating a national public insurance plan that would allow all citizens to buy the affordable health care available to federal employees. AARP executive Nancy LeaMond says the economy and health care costs will likely dominate as campaign issues in the run-up to the November election. The organization, which represents millions of older Americans, has formed a coalition with business groups and the Service Employees International Union to push for bipartisan health care reform. "There is enormous anxiety about rising health costs," LeaMond said. (Additional reporting by Richard Cowan; Editing by Andy Sullivan and Eric Walsh) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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