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Life. Daily Quote: "Our greatest glory is not in never falling, but in rising every time we fall." - - Confucius
The Workplace Benefits Association has released the national schedule of their training and educational campaign for 2008 built around the concept of “doubling your voluntary benefits revenue stream.” There is no cost to attend these seminars for attendees who pre-register. “The concept is for a broker to be able to walk out of the meeting room and have in hand everything they need to immediately start the process of doubling their voluntary benefits income when they return to their office (product sources, scripts, & forms).
For more information or to register, please visit our website, or call 888-282-1765. 1. Climate change greatest strategic risk to insurance industry Ernst & Young report highlights top ten risks to insurers NEW YORK, 12 MARCH 2008 – Potential climate change is the greatest strategic risk currently facing the property/casualty insurance industry, with demographic changes taking priority for the life insurance industry, according to a new study by Ernst & Young, closely followed by demographic change and catastrophic events. For the new study, Strategic Business Risk 2008, Ernst & Young and Oxford Analytica interviewed more than 70 industry analysts from around the world to identify the emerging trends and uncertainties driving the performance of the global insurance sector over the next five years. The study identified risks in three broad areas – macro, sector-specific and operational threats. It identified the top ten risks and five emerging threats. Peter Porrino, Global Director of Insurance Services at Ernst & Young, comments, “Change is constant. Ten years ago, would climate change have been top of anyone’s risk list? Demographic change was obvious back then, but it is now a reality. Strategic risks vary for individual companies, but for the insurance sector as a whole these are the threats the experts say will have the greatest and most far reaching consequences. Insurers have to deal with them now, as they will change the business environment, the competitive pressures and the business opportunities. They have to view risk management as a way to improve operations, financial performance, and shareholder value.” The top ten risks are: 1 Climate change: long-term, far-reaching and with significant impact on the industry 2 Demographic shifts in core markets: offers business opportunities but risk that other sectors will capitalize first 3 Catastrophic events: rising costs and serious impact on earnings for insurers 4 Emerging markets: risk and opportunity but competitive threat from new players 5 Regulatory intervention: increased scrutiny impacting on operations and practices 6 Channel distribution: technology is changing the way insurance is sold and purchased 7 Integration of technology with operations and strategy: an enabler to keep pace with competition but lack of integration is a threat at the strategic business level 8 Securities markets: changes in capital providers and the way capital is entering the insurance industry are causing major changes in the industry 9 Legal risk: significant and unexpected change in the legal environment, such as government legislation or evolving case law, will continue to have a critical impact on the insurance industry 10 Geopolitical or macroeconomic shocks: likely causes unknown but consequences potentially severe. Many of these risks are interlinked, with the consequences from one risk having direct impact on others. The analysts have told Ernst & Young these are the strategic risks that industry leaders must manage if they are to maintain dominant competitive positions, raising questions about how these risks will change what companies offer customers, the way they offer services and where. The analysts also identified five emerging risks, just outside the top ten, which have the potential to become as significant during the next five years. These are: over reliance on model-based risk management; threats to industry reputation; losing the war for talent; increasing exposure to global regulatory heterogeneity; and the possible emergence of entirely new risks. Peter Porrino concludes, “As the insurance environment becomes more complex companies need to shift from traditional risk management approaches to integrated processes that add greater value. Understanding how to respond to current trends is paramount for insurers as they seek to manage risk, optimize performance, and increase operational effectiveness. The top three risks – climate change and demographic shifts in core markets, and catastrophic events – are far reaching social and environmental trends with complex long term ramifications for the industry as a whole.” About "Strategic Business Risk" The research report sought the views of more than 70 analysts from around the world. They came from over 20 disciplines that shape the business environment, including: law, finance, the sciences, business strategy, geopolitics, regulation, medicine, economics, and demographics. They were drawn from 12 of the world’s most important sectors: asset management, automotive, banking and capital markets, biotechnology, consumer products, insurance, media and entertainment, oil and gas, pharmaceuticals, real estate, telecommunications, and utilities. Interviews were open ended and no predetermined list of risks was used. Each analyst was asked for his or her own evaluation of the most important strategic challenges facing global businesses. www.ey.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 2. Berkshire's Jain: Risk Of Insuring Muni Bonds Rising Wed Mar 12, 2008 9:32am EDT NEW YORK/WASHINGTON (Reuters) - Troubles at Jefferson County, Ala. and Vallejo, Calif. could be the "tip of the iceberg," as economic woes raise the risk of insuring municipal bonds, a Berkshire Hathaway official said on Wednesday. Moreover, if the rating agencies level the playing field in terms of how they rate municipal versus corporate obligations, "there will be little need for a financial guaranty insurance marketplace as we know it," Ajit Jain, head of Berkshire's (BRKa.N: ) new bond insurance unit, said in prepared testimony to a U.S. House of Representatives hearing on the muni bond insurance sector. (Reporting by Dena Aubin in New York and Patrick Rucker in Washington; Editing by Tom Hals) © Reuters 2008 All rights reservedReturn to Headlines - - Print Article / Read Entire Article / E-Mail Article 3. Humana cuts 1st-qtr profit forecast by almost half Wed Mar 12, 2008 10:52am EDT NEW YORK (Reuters) - Humana Inc (HUM.N: ) slashed its first-quarter earnings forecast by nearly half on Wednesday on high costs in its Medicare prescription-drug plans for the elderly, sending its shares down sharply and roiling the health-insurance industry for a second straight day. Humana, which is one of the biggest Medicare plan providers, plummeted as much as 29 percent as it also sharply lowered its full-year profit forecast. That drop follows a 24.4 percent drop in Humana shares on Tuesday after rival WellPoint Inc (WLP.N: ) cut its 2008 forecast, in part because of high costs for its Medicare Advantage full-service plans. (Reporting by Lewis Krauskopf; editing by Mark Porter and John Wallace) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 4. WellPoint's chief accounting officer resigns Wed Mar 12, 2008 9:16am EDT CHICAGO (Reuters) - WellPoint Inc (WLP.N: ) said on Wednesday Jamie Miller, its chief accounting officer, resigned effective April 4, and will take the same position at General Electric Co (GE.N: ). WellPoint said Chief Financial Officer Wayne Deveydt will assume the responsibilities of chief accounting officer. (Reporting by Debra Sherman, editing by Gerald E. McCormick) © Reuters 2008 All rights reservedReturn to Headlines - - Print Article / Read Entire Article / E-Mail Article 5. Progressive February profit plunges; stock falls Wed Mar 12, 2008 10:22am EDT NEW YORK (Reuters) - Progressive Corp (PGR.N: ), the No. 3 U.S. auto insurer, said on Wednesday that monthly earnings fell 51 percent on lower revenue and higher expenses, sending its shares down nearly 7 percent. Net income in February dropped to $46.2 million, or 7 cents a share, from $94.7 million, or 13 cents a share, a year earlier. (Reporting by Lilla Zuill, editing by Gerald E. McCormick, John Wallace and Lisa Von Ahn) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 6. Guy Carpenter Briefing Offers Tips for Success in Soft Market Publication Focuses on Five Strategies Specific to MGAs and MGUs New York, March 12, 2008 Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist, today announced the publication of Optimize in a Soft Market, Succeed in Any Market – Five Strategies for MGAs and MGUs. The briefing paper provides wholesalers, managing general agents (MGAs) and Managing General Underwriters (MGUs) with five core strategies for maximizing opportunities and positioning themselves for success in the current soft insurance market and beyond. “Soft markets present a number of challenges for MGAs and MGUs, but they can also yield significant opportunities if firms focus on optimizing operations for long-term sustainable growth, rather than short-term profits,” said Carl Bach, Managing Director and Head of Guy Carpenter’s Program Manager Solutions Specialty Practice. “Rather than relaxing underwriting standards and chasing the business cycle, companies would be well-served to use the soft market to fine-tune the business for profitability and future returns, regardless of market conditions.” The briefing outlines five key “high-gain” strategies for business improvement in a soft market: Business Analysis – By re-examining the products and services they offer, how they are distributed, their value-added proposition and the carriers to whom they are marketed, MGAs and MGUs can make better informed decisions that will position their firms to outperform when conditions harden. A combination of introspection and third-party counsel from trusted advisors can provide a richer context from which to source and execute a growth plan. Operational Assessment and Enhancement – When profits are squeezed, streamlining processing and instituting new efficiency measures can significantly bolster MGA and MGU profitability. These initiatives can range from new technology systems to streamlining underwriting, claim management and premium audit practices to less costly improvements in the areas of billing, collections and accounting. Managed effectively, these operational enhancements can lead to improved cash flow and profitability. Business Expansion and Diversification – Expanding the business, even in a soft market, can help increase revenues while blocking out competition, especially from new market entrants. Developing new revenue sources by growing existing business lines, adding new lines and classes of business, finding new sources of business, or even a well-planned and timely acquisition can insulate firms in a difficult operating environment and provide a substantial platform for growth. Positioning and Preparation – MGAs and MGUs should use the current market to position themselves for rapid growth when conditions become more favorable. By searching for and developing new partners in new markets, firms can protect themselves through relationship diversification and benefit from greater alternatives in a hard market. Likewise, the soft market represents an excellent opportunity for companies to analyze data, both to find soft market expansion opportunities and to plot a trajectory for growth when the market hardens. Capitalization and Investment – Investing in company growth in a soft market – either through self-financing or the use of outside capital – can have a profound impact on long-term competitive advantage, enabling the acquisition of new systems, distribution, companies and talent and growing the business without putting undue pressure on margins. “While each of these strategies can lead to competitive advantage, attempting too much at one time—especially in a soft market—can be costly and unproductive,” added Mr. Bach. “Rather than implement all of these initiatives at once, it makes more sense to select only the few that are most likely to yield the largest return. In the long run, the most successful MGAs and MGUs will be those that take advantage of the soft market to retool now, concentrating on efficiency and taking advantage of new opportunities for growth.” The full briefing, Optimize in a Soft Market, Succeed in Any Market – Five Strategies for MGAs and MGUs, is available for download at www.guycarp.com. For printed copies, please contact Guy Carpenter at marketing@guycarp.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 7. NAIC Releases Select 2007 Life Market Share Data Report Includes Information on Top 25 Life Insurers KANSAS CITY, Mo. (March 12, 2008) — The National Association of Insurance Commissioners (NAIC) today released the 2007 market share premium data for the top 25 insurers of select life lines of business. This data helps to provide an indicator of the degree of market concentration in a line of business, as well as identify leading insurance writers. The report includes countrywide direct written premium for the top 25 groups and companies as reported on the State Page of the life/health and fraternal annual statements of insurers that report to the NAIC. This combined data from both annual statement types allows for a more global view of the market place. Cumulative market share data is shown for the life, annuity considerations, and totals of life insurance, annuity considerations, deposit-type contract funds, other considerations, and accident and health insurance. Available free online, the report will be refreshed each Monday through mid-April. Access the report at http://www.naic.org/documents/research_home_life_fraternal.pdf. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 8. Time, Markets To Seal U.S. Muni Insurance Fate: Regulator Wed Mar 12, 2008 8:11am EDT WASHINGTON (Reuters) - Some local governments might find they do not need insurance for their municipal bonds as bond insurers emerge from their current crisis, New York's insurance industry regulator said on Wednesday. "Time and the market will determine the need for municipal bond insurance," Eric Dinallo said in the text of prepared testimony to a U.S. House of Representatives hearing on the shaken municipal bond insurance sector. "Some governments have stated recently that they believe they no longer need bond insurance... That may mean that the demand for bond insurance shrinks," according to the prepared testimony obtained by Reuters. Dinallo said that his steps to stabilize the bond insurance industry should buy time for stability in other sectors of the market. (Reporting by Patrick Rucker; Editing by Theodore d'Afflisio) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 9. Aviva Says Considering Response On Surplus Assets LONDON, March 12 (Reuters) - British insurer Aviva (AV.L: ) said it was considering its next move after receiving a response to its compensation offer to UK policyholders that could allow it to reallocate surplus assets in two funds. Aviva did not disclose the details of the response. "We remain committed to trying to put an offer to policyholders, so long as it is fair to both shareholders and policyholders," an Aviva spokeswoman said on Wednesday, adding there would be a statement "in due course". (Reporting by Clara Ferreira-Marques; Editing by Richard Hubbard) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 10. Fortis Planned Deal Is With China's Ping An-Report BRUSSELS, March 12 (Reuters) - Belgian-Dutch financial services group Fortis (FOR.BR: ) was in talks with shareholder China's Ping An Insurance (2318.HK: ) over a deal to boost its solvency, Belgian daily De Standaard said on Wednesday. Fortis was negotiating the sale of a stake in its fund managing unit Fortis Investments, which will increase its solvency by 2 billion euros ($3.1 billion), De Standaard said. (Reporting by Julien Ponthus, Editing by Mike Elliot) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 11. FGIC Sues German Bank IKB for Fraud Wed Mar 12, 2008 3:02am EDT NEW YORK (Reuters) - Bond insurer FGIC Corp has sued German bank IKB Deutsche Industriebank AG (IKBG.DE: ), alleging that the bank fraudulently left it exposed to about $1.9 billion in potential liabilities. FGIC unit Financial Guaranty Insurance Co and its UK unit alleged IKB and its affiliates fraudulently convinced it to assume the risk of potential losses on an IKB off-balance-sheet structured investment vehicle, according to a complaint filed in New York State Supreme Court on Monday. It said it was induced to enter into a commitment agreement in June last year, under which it could be obligated to take on credit exposure of the IKB affiliate. (Reporting by Paritosh Bansal, additional reporting by Dan Wilchins, editing by Gerald E. McCormick) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 12. Zurich’s Emerging Markets Unit Provides Political Risk Insurance for Hydropower Project "Green" project designed to help meet growing demand for electricity in Sri Lanka WASHINGTON--(BUSINESS WIRE)--Zurich, a leader in political risk and trade credit insurance in emerging markets, today announced it is providing political risk insurance for a hydroelectric power plant in Sri Lanka. This project was developed in cooperation with the Overseas Private Investment Corporation (OPIC), which will provide financing and reinsurance for the plant. Zurich is providing political risk coverage to the U.S. sponsor of the five-megawatt hydropower plant on the Weli River in south central Sri Lanka. OPIC will provide a $4.3 million loan to MaTh Hydro Power, the project company, for construction of the plant, as well as $1.4 million in reinsurance for Zurich's political risk coverage of the project. www.zurichna.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 13. Lexington Insurance Company Increases Domestic Property Capacity to $1.5 Billion NEW YORK--(BUSINESS WIRE)--Lexington Insurance Company, an AIG company, today increased its capacity for commercial domestic property insurance by an additional $1 billion, raising the total non-catastrophe property capacity to $1.5 billion. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 14. GRH Acquires North American Risk Services From Clarendon National Insurance Company MAITLAND, Fla.--(BUSINESS WIRE)--North American Risk Services (NARS), a national provider of property and casualty third-party administration (TPA) services, announced today that it has been purchased from Clarendon National Insurance Company by Global Risk Holdings (GRH). GRH, in conjunction with members of the NARS management team, have acquired all of NARS’ outstanding shares. Walt Sliva, President of GRH, will become Chairman/CEO of NARS. Robert Ruryk will become the Vice-President of GRH and will serve as President/COO of NARS. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 15. AmWINS Group Benefits Launches Pharmacy Audit Tool for Employers AmWINS Benefit Watch Reduces Pharmacy Claim Mistakes That Drive up Medical Costs Six Paid Colonoscopies in One Week for the Same Patient Could Be Prevented WARWICK, R.I.--(BUSINESS WIRE)--AmWINS Group Benefits, responding to costly and rampant inaccuracies in claims processing, is today announcing a new tool to protect businesses from the reporting errors that drive up the price of health care for them and their employees. AmWINS Group Benefits, a leading distributor of wholesale retiree and employee health benefits and professional services, today launched AmWINS Benefit Watch. The software-based tool audits prescription, medical and dental claims, to ensure that anything a managed care organization or TPA is charging a client is accurate and ordinary. Millions of consumer dollars are wasted each year due to erroneous health care claims, a result of faulty IT systems, human error or premium benefit rules. Auditors have found that 3 to 5 percent of pharmacy benefit manager claims are processed incorrectly. The implementation of an auditing process detects reporting errors and irregularities and ultimately stops the bleeding of dollars spent to cover exaggerated health care benefits. A thorough pharmacy audit program, such as AmWINS Benefit Watch, will identify the plausible issue, support the refund negotiation process and assist in preventing future mistakes. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 16. Aging Americans Unsure They Can Afford To Retire: Survey Wed Mar 12, 2008 10:27am EDT NEW YORK (Reuters) - A third of Americans 50 and over are not confident they will have enough money to retire, and more than two-thirds expect to keep working well into old age, according to a survey published Wednesday. The report, commissioned by retirement services firm SecurePath by Transamerica, suggests the surge in companies offering defined-contribution 401(k) plans has not displaced Social Security as the ultimate safety net for retirees. Sixty-one percent said the program would provide them with their main source of income in retirement. "A huge percentage of people say they rely on government because it's the one thing they know is dependable," said Will Prest, chief marketing officer at Transamerica Retirement Management in St. Paul, Minnesota. Encouragingly, 65 percent of respondents said they feel in control of their life in retirement, and seven in 10 said they were well-equipped to handle the uncertainties associated with big life transitions like leaving the workforce. Yet this confidence comes at a cost. "Seven in 10 workers aged 50 and older have already faced a period of financial difficulty that shook their confidence and created stress," the study found. The survey also uncovered a general aversion to risk among the broader population, although respondents' appetite for taking chances varied depending on their circumstances and personalities. "Many more workers 50-plus say they understand savings vehicles for their money better than other investment options, and are not as comfortable with putting their retirement funds in the vehicles they do not understand as well," the survey said. Just under half said they were not very willing to put money into investments with risk associated with them. "The average American isn't looking for a life of leisure or luxury," said Prest. "They're just looking to live life on their own terms and lower their stress level, but still participate." The report's findings were based on 2,015 online interviews among working adults aged 50 or older, and was conducted by GfK Roper Public Affairs & Media. (Reporting by Pedro Nicolaci da Costa; Editing by Jan Paschal) © Reuters 2008 All rights reserved Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 17. INSURANCE NEWSLINK Articles Recent articles added to INSURANCE NEWSLINK, the worldwide, strategic concise intelligence database of over 30,000 articles including interviews, uniquely analysed by company, market, research, regulatory, and IT topics. Please click here for a content overview and a 15-day free review. THE TIME EFFECTIVE WAY TO STAY AHEAD
Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 18. Aetna Welcomes Memorial Sloan-Kettering Cancer Center Premier cancer treatment center in New York City joins Aetna’s national participating provider network HARTFORD, Conn.--(BUSINESS WIRE)--Aetna (NYSE: AET) and Memorial Sloan-Kettering Cancer Center (MSKCC) today announced a new agreement on a three-year contract that adds the Center to Aetna’s provider network. The agreement will take effect on April 1. www.aetna.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 19. Prudential Financial Outlines Practical Investment Tips You Should Consider in the Retirement Red Zone® Tip No. 4: Maximize Your Social Security Benefits NEWARK, N.J.--(BUSINESS WIRE)--Whether it’s taking stock of all your potential income sources, making sure you don’t miss out on maximum Social Security benefits or figuring out how to fund post-retirement health-care coverage, there are a number of critical investment decisions Americans in The Retirement Red Zone—the five years before and after retirement—should make. Prudential Financial can help with those decisions. Its retirement experts have developed 12 practical tips to help you manage financial risks so you don’t see, well, red, in The Retirement Red Zone. And some of these decisions are best made right now, during tax season. This week’s tip marks the fourth in a series that will run through May 6. Tip No. 4: Maximize your Social Security benefits. www.prudential.com/retirementincome 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. National Federation of Independent Business Launches Aggressive Campaign to Drive Healthcare Reform: Solutions Start Here Small business demands solutions from presidential candidates, Congress WASHINGTON, March 12 /PRNewswire-USNewswire/ -- The National Federation of Independent Business (NFIB), the nation's leading small business association, announced today the launch of Solutions Start Here, an aggressive healthcare campaign that will urge policymakers to deliver real and meaningful healthcare reform for small business. Kicking off the campaign, NFIB sent a letter today to the presidential candidates challenging them to develop reform proposals that support the backbone of the U.S. economy - small businesses. More than fifteen years ago, comprehensive reform was introduced that did not adequately consider the unique situation of small businesses. Finding real solutions requires the cooperation of diverse, bipartisan groups willing to work together for change. Over the past decade, insurance premiums have continued to increase each year, jumping 129 percent in the last eight years. Today, small business owners, a voting bloc larger than soccer moms and NASCAR dads, are insisting that action be taken to address their healthcare crisis. "Small businesses have reached a breaking point," said Todd Stottlemyer, president and CEO of NFIB. "The presidential candidates and Congress should take note. Small business is an established and committed group that has been asking lawmakers for a healthcare solution that addresses their needs. This election we aren't just asking, we're demanding...with our vote." http://www.FixedForAmerica.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 22. AARP Services Inc. and Genworth Financial Introduce New Innovative and Affordable Long Term Care Insurance Option To AARP Members WASHINGTON--(BUSINESS WIRE)--AARP Services Inc. and Genworth Financial, Inc. (NYSE: GNW) today announced the availability of a new long term care insurance plan for AARP’s 39 million members. Genworth’s Cornerstone AdvantageSM plan is an affordable alternative to traditional long term care insurance and is currently available to AARP members in 27 states, with more states anticipated. www.AARP.org www.Genworth.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 23. AIG American General Introduces AIG Global IndexSM Annuity Series HOUSTON--(BUSINESS WIRE)--American General Life Insurance Company (American General Life), a subsidiary of American International Group, Inc. (AIG), has announced the AIG Global IndexSM Annuity Series. Two market-differentiating features of this series are: A Global Multiple Index AccountSM which is linked to the S&P 500®, the Dow Jones EURO STOXX 50® and the Nikkei 225. At the end of each year, the index that performed the best is given the highest weight in determining the interest credited to the account. www.aigag.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 24. Mark Farrah Associates Adds New Feature to Health Insurance Analysis Tool KENNEBUNK, Maine--(BUSINESS WIRE)--Mark Farrah Associates (MFA) is pleased to announce a new Health Coverage Portal TM feature that enables subscribers to build their own custom data reports. “Pick & Click” allows users to select and download data to an Excel spreadsheet which may then be saved for further analysis. Data field elements are from quarterly and annual health blanks filed with the National Association of Insurance Commissioners (NAIC). Subscribers can filter by parent, plan and domicile and then select fields such as assets, liabilities, revenue, expenses, members, member months, industry ratios and more based on their individual reporting needs. www.markfarrah.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 25. Aetna and Healthline Networks Announce First Ever Personalized Health and Health Benefits Search Engine - Aetna SmartSourceSM Search Tool Delivers Personalized Results Based on Individual’s Health Plan, Geographic Location and Specific Health Condition HARTFORD, Conn. & SAN FRANCISCO--(BUSINESS WIRE)--Aetna (NYSE:AET) and Healthline Networks, a leading provider of intelligent health information, today introduced Aetna SmartSourceSM, the first-ever personalized search engine that mines information from Aetna’s vast data resources to deliver meaningful, personalized health and health benefits information to Aetna members. Powered by Healthline Networks’ Medically Guided SearchTM technology, Aetna SmartSource is an intelligent online search tool that connects members to health information and Aetna programs and resources specific to their needs. www.aetna.com http://www.healthline.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 26. Securian Survey: Debt Sitting in Consumers' Blind Spot Balancing today's living with tomorrow's security on the road to retirement ST. PAUL, Minn., March 12 /PRNewswire/ -- The greatest risk to financial security during retirement may be the debt consumers don't see today. A recent survey of consumers found that nearly half (46 percent) declined to classify at least one common financial obligation, such as outstanding balances on credit cards or home-equity lines of credit, overdue utility bills -- even "payday loans" from friends or family members -- as debt. In fact, 11 percent of people with debt don't consider themselves as being in debt. In a survey that included retired and working respondents alike, 43 percent of non-retirees surveyed indicated that debt would affect their ability to save for a comfortable retirement a great deal, and 32 percent of non-retirees who have debt said they cut back on their retirement savings as a result of their debt. Just more than half (52 percent) of the retirees acknowledged they were in debt when they entered retirement. Respondents with the heaviest debt loads were most likely to express feelings of financial insecurity. "It's understood that Americans have debt, but what's surprising is the impact of debt on their ability to prepare financially for retirement," said Kerry Geurkink, director, Annuity Marketing for Securian Retirement, which commissioned the online survey. "The challenge of finding the right balance between today's living and tomorrow's security becomes larger when consumers either don't acknowledge or simply don't understand the extent of their debt." www.securian.com/Businesses/retirement/retirement.asp Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 27. MCOL’s HealthQuest Publishers Release 2008 National Managed Care Leadership Directory MODESTO, Calif.--(BUSINESS WIRE)--MCOL, the premiere business-to-business publisher of health management and managed care resources, today released their 2008 edition of “The National Managed Care Leadership Directory” through its HealthQuest Publications division. Detailed information is available at http://www.healthquestpublishers.com, or by calling 209.577.4888. Clive Riddle, President MCOL, says, “The Directory reflects extensive changes throughout the industry due to continued employee turnover rates, merger and acquisition activities, company closures, identification of new companies, promotions, and other market forces.” Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 28. Custom Disability Solutions Launches Family Medical Leave Administration Product Leave Management Administrator integrates Family Medical Leave with short-term disability management to ease the burden of managing FMLA. SOUTH PORTLAND, Maine--(BUSINESS WIRE)--Two of the greatest challenges that Human Resources professionals face today are the effective administration of the Family Medical Leave Act (FMLA), and integrating Family Medical Leave with short term disability coverage. In an effort to make the process easier for Human Resources professionals at large employers, Custom Disability Solutions (CDS) today announced the launch of its new web-based FMLA administration product – Leave Management Administrator. www.customdisability.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 29. Recall Corporation Opens Secure Document Destruction Facility in Baton Rouge Capital-Area Center Supports Information Security for Area Businesses Through Off-Site Shredding Services BATON ROUGE, La.--(BUSINESS WIRE)--Document lifecycle management company Recall has opened a full-service secure document and electronic media destruction facility in Baton Rouge to accommodate the region’s sensitive information security needs. With this new facility, Recall can offer its customers collection and off-site destruction of sensitive documents and data storage media, as well as destruction of items with high intrinsic value, such as uniforms and defective merchandise. www.recall.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 30. Esurance Inks Multi-Year Deal With AutoWatch Auto Insurance Company Experiences Success with Online Vehicle Repair Monitoring SAN FRANCISCO, March 12 /PRNewswire/ -- Esurance, the direct-to-consumer personal auto insurance company, announced the signing of a six-year agreement with AutoWatch, a unique Web-enabled system designed for monitoring auto repairs. Esurance launched AutoWatch in January 2007, and the program has been a huge success with the auto insurance company's tech-savvy customer base. http://www.esurance.com http://www.AutoWatch.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 31. CEI Enhances DriverCare Risk ManagerTM With Supplemental Critical Notes Feature Trevose, PA, March 11, 2008 – The CEI Group, Inc. (CEI) has added an administrator note entry capability to DriverCare Risk Manager, its online fleet risk management service. The enhancement enables administrators to document supplemental critical events by entering notes in any driver’s electronic file that they are authorized to access, including: · Explanations for discarding or changing events in a driver’s records. · Explanations for entering additional events on a driver’s records. · Conversations with problem drivers. · Training prescribed beyond the norms built into DriverCare protocols. · Management comments following “drive-alongs.” Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 32. Philadelphia Consolidated Holding Corp. Announces Acquisition of Gillingham & Associates, Inc. BALA CYNWYD, Pa., March 11 /PRNewswire-FirstCall/ -- Philadelphia Consolidated Holding Corp. (Nasdaq: PHLY) today announced that it has acquired Gillingham & Associates, Inc. ("Gillingham") a program manager specializing in commercial property and casualty insurance for the outdoor recreation and hospitality industries. Through this acquisition, PHLY expands its product offering for the outdoor recreation and hospitality industries. In addition to Campgrounds, RV Parks and Guides and Outfitters products, coverage will now also be provided for Fishing & Hunting Lodges, Resorts and Lodges, Dude and Guest Ranches, Hunting Preserves, Rod and Gun Clubs, Hunting Leases, Bed and Breakfasts, Shooting Ranges, Whitewater Rafting, ATV and Snowmobile Tours, and Trap, Skeet and Sporting Clay Ranges. www.phly.com Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 33. Overall Damage From Johanna Expected to be Significantly Less than Emma: AIR Worldwide BOSTON, March 11, 2008-- Early on Monday, March 10, an Atlantic windstorm lashed the U.K. The storm, dubbed Johanna, brought gale-force winds and heavy rain that cut off power to thousands of homes and disrupted air, rail, and port traffic. A motorist in southern Normandy was crushed to death when a tree branch broke off and landed on her car. Amidst the clean-up from Monday's gales, forecasters warn that a new storm front is expected later this week. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 34. Transamerica Occidental Life Improves Competitive Position on TransACE Survivor 2008 Premiums LOS ANGELES (March 11, 2008) – Transamerica Occidental Life Insurance Company (TOLIC) has increased its competitive position on premiums on TransACE Survivor® 2008, its no-lapse, second-to-die universal life insurance policy that pays on the death of the surviving joint-insured. “We’ve seen a renewed interest in estate tax planning and silence on the subject of estate tax repeal, so the launch of TransACE Survivor 2008 is timely and appropriate,” said Bill Tate, TOLIC’s Executive Vice President and Chief Marketing Officer. “With this product, we are consistently competitive across the board at all ages and funding scenarios.” www.transamerica.com. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article 35. Commissioner Poizner Announces Arrest of Correctional Officer for Workers' Comp Fraud Approximately $150,000 in Fraudulent Claims for Sacramento-area Man Allegedly Assaulted by Inmate SACRAMENTO ? Insurance Commissioner Steve Poizner announced today's arrest of Alexander Agamemnon Bourdaniotis, 32, of Carmichael, CA, a youth correctional counselor at the state's Division of Juvenile Justice (formerly the California Youth Authority) on six felony charges related to workers' compensation insurance fraud: four counts of insurance fraud, one count of attempted theft by false pretenses, and one count of filing a fraudulent claim with a State Board. Return to Headlines - - Print Article / Read Entire Article / E-Mail Article
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