Insurance Newscast: American’s Trust in Retirement Reaches a Tipping Point: October 20, 2011

INSURANCE NEWS MAJOR HEADLINES (Sponsored By)

American’s Trust in Retirement Reaches a Tipping Point
WELLESLEY, Mass.--(BUSINESS WIRE)--American workers’ trust in their future retirement has reached a four-year low, according to today’s U.S. release of the Unretirement IndexSM, a poll of nearly 1,500 working Americans by Sun Life Financial Inc. (NYSE:SLF, TSX:SLF). After remaining stable for three years, retirement confidence dropped nearly 20% this September compared to a year earlier, according to the survey.

Guaranteed Income in Retirement Trumps Having 401(k) Plan - Allianz Life Survey Finds Non-Retirees Searching for Certainty
MINNEAPOLIS--(BUSINESS WIRE)--As financial markets continue to fluctuate and place retirement portfolios at risk, non-retired Americans are showing a clear desire for guaranteed income in retirement according to a survey* by Allianz Life Insurance Company of North America (Allianz Life). When asked to rate several factors related to creating a more secure retirement, the most popular selection was “having a guaranteed stream of income in retirement” (86 percent), outranking “having a 401(k)/403(b)/457 plan” (71 percent).

Citigroup To Pay $285 Million To Settle Fraud Case
(Reuters) - Citigroup Inc will pay $285 million to settle charges that it defrauded investors who bought toxic housing-related debt that the bank bet would fail, the U.S. Securities and Exchange Commission said on Wednesday.

States Near Foreclosure Deal With Banks
(Reuters) - Talks between states and top banks over mortgage abuses are nearing agreement on resolving a major sticking point that has bogged down settlement negotiations for more than a year.

U.S. Cracks Down On Commodity Traders; Will It Stick?
(Reuters) - The United States pushed through its toughest measures yet to curtail speculation in commodity markets in a tight vote on Tuesday, likely shifting the focus of a fierce four-year debate from the regulators to the courts.

Many Seniors Connect Well-being to Time They Spend with Family
Humana, National Council on Aging survey reveals seniors’ opinions on family and active lives 70 percent of seniors say they wish they saw their families more; 90 percent ‘revitalized’ by family time Humana and KaBOOM! creating multigenerational playgrounds and reunion gathering areas in 8 cities

Wagner Lauds $41 Million Increase for Volunteer Firefighters
HARRISBURG, Pa., Oct. 19, 2011 /PRNewswire-USNewswire/ -- Due to a one-time increase in premiums taxes collected during the fiscal year ending June 30, 2011, Pennsylvania's 2,500 Volunteer Firefighters' Relief Associations will receive a 57% increase in funds from the Foreign Fire Fund and the Foreign Casualty Fund. VFRAs, the financial arm of volunteer fire departments, receive state aid from a 2-percent state tax on fire insurance purchased by Pennsylvania residents from insurance companies incorporated outside of the commonwealth.

Liberty Mutual and SADD Study Finds Texting While Driving By Teens Not Affected By Their Awareness of the Dangers; Text Conversations With Mom and Dad on the Rise
BOSTON, Oct. 19, 2011 /PRNewswire/ -- Teen drivers are becoming increasingly aware of the potential dangers of texting while driving, yet it's not curbing the behavior. According to a 2011 teen driving study by Liberty Mutual Insurance and SADD (Students Against Destructive Decisions), more than half (53 percent) of the 2,294 high school students surveyed say they text while they drive at least sometimes, and 28 percent admit doing so often or very often.

The Hanover Introduces a New Small Commercial Quote Proposal That Agents Can Customize
WORCESTER, Mass., Oct. 19, 2011 /PRNewswire/ -- The Hanover Insurance Group, Inc. (NYSE: THG), a leading provider of property and casualty insurance products nationwide, today unveiled a new small commercial quote proposal to help its agent partners showcase the added value that Hanover brings to their small business customers at the point of sale.

State Farm® and Major League Baseball® Rally Together and Score with "GO TO BAT™" Program
BLOOMINGTON, Ill., Oct. 19, 2011 /PRNewswire/ -- Baseball fans across the country delivered big hits for their favorite charitable organizations as part of the State Farm Go To Bat program. Thousands of fans from coast to coast participated in the online State Farm campaign and helped various charities win $205,000 worth of donations during the second half of the 2011 Major League Baseball (MLB) season.

Frequent Flyers Should Consider Going Annual on Their Travel Insurance Policy
CHESTER, England, October 19, 2011 /PRNewswire/ -- - Annual policies could typically save regular travellers 15 per cent* - Beware of varying cover levels on travel insurance policies - Always make sure your policy provides adequate cover for your needs, says MoneySupermarket

Safety Insurance Group wins PIANH Rookie of the Year Company Award
CONCORD, N.H.—The Professional Insurance Agents of New Hampshire Inc. recognized Safety Insurance Group with their first ever Rookie of the Year award. Safety Insurance Group, new to New Hampshire, received this honor at the association’s Fall Education Festival, held Oct. 4, in Concord, N.H.

MMG Insurance Co. wins PIANH Company Award for Excellence in Service
CONCORD, N.H.—The Professional Insurance Agents of New Hampshire Inc. recognized MMG Insurance Co. for its treatment of agents, its service and its overall support as company partners with its Company Award for Excellence in Service. The company was presented with the award at the association’s Fall Education Festival, held Oct. 4, in Concord, N.H.

Mt. Washington Assurance wins PIANH Company Award for Overall Excellence
CONCORD, N.H.—The Professional Insurance Agents of New Hampshire Inc. recognized Mt. Washington Assurance, a member of The Plymouth Rock group of companies, with its Company Award for Overall Excellence. The company was presented with the award at the association’s Fall Education Festival, held Oct. 4, in Concord, N.H.

HEALTHCARE/EMPLOYEE BENEFIT PLANS (Sponsored By)

Aflac Renews Commitment to Cancer Treatment and Research
COLUMBUS, Ga., Oct. 19, 2011 /PRNewswire/ -- Aflac, the number one provider of supplemental insurance in the United States, announced today that the company has renewed its long-term commitment to childhood and youth cancer treatment and research. The Georgia-based insurance company has committed more than $600,000 to the Children's Oncology Group's Adolescents and Young Adults (AYA) research program over the next three years, adding to the more $1 million Aflac has contributed to the children's oncology group since 2004 and the more than $67 million that Aflac has raised and donated for cancer treatment and research since 1995.

MetLife’s New International Business Travel Medical Coverage Provides Additional Peace of Mind to Employees on Assignment
NEW YORK--(BUSINESS WIRE)--Coping with a medical emergency while on international business travel can be daunting for even a seasoned traveler, particularly if there are language barriers. To help alleviate this worry and so that companies and their employees can better concentrate on their business, MetLife, a leading provider of global benefit solutions, today announced the availability of International Business Travel Medical (IBTM) coverage. IBTM provides assistance and coverage for emergency and urgent medical care for employees traveling on short-term assignments outside their country of residence.

LEGAL/COMPLIANCE/REGULATION (Sponsored By)

HHS Office for Civil Rights Enforces Section 504 and the ADA
The U.S. Department of Health and Human Services, Office for Civil Rights (OCR) has entered into several settlement agreements and issued letters of findings as part of its ongoing efforts to ensure compliance with Section 504 of the Rehabilitation Act of 1973 (Section 504) and the Americans with Disabilities Act of 1990 (ADA).

Bank Of America Seeks To Oust AIG Law Firm From $10 Billion Case
(Reuters) - Bank of America Corp asked a judge to disqualify the law firm representing AIG in the insurance company's $10 billion mortgage-fraud lawsuit against the bank, alleging a conflict of interest by one of the firm's partners.

Accenture and Guidewire Software, Inc. Settle Patent Lawsuits
NEW YORK and SAN MATEO, Calif.; Oct. 18, 2011 – Accenture and Guidewire Software, Inc. have agreed to resolve all outstanding patent litigation between the companies concerning their respective insurance claims management software. Guidewire has agreed to pay an undisclosed sum to Accenture, with a portion based on the final outcome of Accenture’s pending appeal in the Federal Circuit. As part of the settlement, Accenture and Guidewire also have agreed to cross license patents. All other terms of the settlement will remain confidential but will allow each party to serve their clients’ needs with insurance software and services without any legal conflict interfering with a client’s choice of the best software and services to meet its needs.

PERSONNEL ANNOUNCEMENTS (Sponsored By)

Dr. Alan Muney Named Cigna Chief Medical Officer
BLOOMFIELD, Conn.--(BUSINESS WIRE)--Global health service company Cigna (NYSE:CI) has named Alan M. Muney, M.D., M.H.A., its Chief Medical Officer, effective this week. Dr. Muney, 58, will lead the company’s efforts to help customers achieve their best possible personal health and wellness through programs and services they receive from Cigna.

Florida Workers' Compensation Insurance Guaranty Association Names EMPLOYERS’® Mark Hogle to Board of Directors
RENO, Nev.--(BUSINESS WIRE)--The Florida Workers' Compensation Insurance Guaranty Association (FWCIGA) has named Mark Hogle, Senior Vice President, Regional Manager for EMPLOYERS’ Eastern Region, to its board of directors. EMPLOYERS (NYSE: EIG), America's small business insurance specialist®, is a national workers’ compensation provider exclusively focused on serving the needs of small businesses.

Fireman’s Fund Insurance Announces Appointments of Chief Underwriting Officer and Chief Field Executive
NOVATO, Calif.--(BUSINESS WIRE)--Fireman’s Fund Insurance Company is pleased to announce the appointment of David Zona as chief underwriting officer and Kathleen Zortman as chief field executive.

The Hartford Names Hugh Whelan Acting Head of Hartford Investment Management Company
HARTFORD, Conn.--(BUSINESS WIRE)--The Hartford (NYSE: HIG) has named Hugh Whelan, 51, acting head of Hartford Investment Management Company, reporting to the company’s Chairman, President and CEO Liam E. McGee. Whelan assumes the role from Greg McGreevey, who is leaving The Hartford by the end of the month to pursue an opportunity at a global investment management firm. The Hartford has launched a search for a permanent successor.

INSURANCE TECHNOLOGY (Sponsored By)

Centrix Software Introduces Cloud-Based Version of WorkSpace iQ™, Helps Organizations Increase Readiness for Windows 7
LONDON--(BUSINESS WIRE)--Centrix Software, a leading provider of unified end-user computing solutions, today announced the release of a host of new features for its end-user computing analytics product Centrix WorkSpace iQ at IPEXPO, London. The latest version delivers new reporting capabilities that enable organisations to streamline the delivery of desktop transformation projects and operate infrastructure optimally. In addition, the company also announced the availability of WorkSpace iQ as a cloud-based service, enabling customers to benefit from rich, deep end-user computing analytics without the need for supporting in-house infrastructure.

Benaissance Announces COBRApoint Enhancement for Online COBRA Elections
OMAHA, Neb.--(BUSINESS WIRE)--Benaissance, the leading provider of Software as a Service (SaaS) and single point individual subscriber billing solutions for health insurance exchanges, national benefit administrators and health plans, today announced newly released support for online COBRA elections within their COBRApoint SaaS platform.

Samsung, Google Unveil Phone For Revamped Android
(Reuters) - Samsung Electronics (005930.KS) unveiled the first smartphone running on Google's (GOOG.O) latest version of the Android operating system, which combines software used in tablets and smartphones, as they step up competition against Apple.

Apple Shares Slide After Rare Earnings Miss
(Reuters) - Apple Inc (AAPL.O) shares fell more than 5 percent on Wednesday, the first trading session after a rare quarterly earnings miss, but analysts said the drop presented a buying opportunity for investors.

INSURANCE MERGERS/ACQUISITIONS/CAPITALIZATION (Sponsored By)

New Aon Benfield Study Assists Insurers to Optimise Their Balance Sheets Under Solvency II
LONDON, Oct. 19, 2011 /PRNewswire/ -- Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corporation (NYSE: AON), has launched its Solvency II Revealed report, which contains a series of in-depth articles on the key challenges of the new regime based on actual client projects.

HealthSmart Announces Agreement to Acquire Wells Fargo TPA
DALLAS--(BUSINESS WIRE)--HealthSmart Holdings Inc., announced today that it has entered into a definitive agreement to acquire Wells Fargo Third Party Administrators, Inc., the medical third-party administration (TPA) business of Wells Fargo Insurance Services USA, Inc. – part of Wells Fargo & Company (NYSE: WFC). Terms of the transaction, which is expected to be completed by the end of the year, were not disclosed.

Markel Announces Acquisition of Weldship
RICHMOND, Va., Oct. 19, 2011 /PRNewswire/ -- Markel Corporation (NYSE: MKL) announces today that its subsidiary, Markel Ventures, has acquired a majority interest in WI Holdings Inc. ("Weldship"), a privately held company headquartered in Bethlehem, PA, with a division, Texas Trailer Corporation, in Gainesville, TX, from RAF Industries, Inc. Weldship manufactures, leases and sells high pressure tube trailers, certified ISO containers and other gas and liquid containers to industrial gas manufacturers, independent distributors, specialty chemical companies and the United States Government for use in the domestic and international compressed gas, electronic gas and specialty chemical industries.

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