Managed Care - INFO
Current Headline News for the Month of March 2009
| 1. Obama's Public Health Insurance Idea Draws Fire |
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By Will Dunham - Analysis WASHINGTON (Reuters) - A big new public health insurance program envisioned by President Barack Obama is shaping up as one of the most contentious issues in his drive to overhaul the U.S. healthcare system. The White House and congressional Democrats have not given details of any proposal. But even before a plan emerges, some Republicans and the insurance industry are expressing concern about any new public health insurance program. And conservative policy experts are trying to shape the debate by calling such a move a step toward "socialized medicine." Obama aims to sign a bill this year making sweeping changes in the healthcare system, which is the world's most expensive even as 46 million Americans have no health insurance and the United States lags other nations in important health measures, such as life expectancy and infant mortality. Most Americans -- about 170 million -- get private health coverage through an employer, although some buy their own private insurance. Others are eligible for public programs that offer coverage to the elderly and disabled (Medicare), the poor (Medicaid) and low-income children (State Children's Health Insurance Program). But many go without coverage, paying instead out of their own pockets for care if they get sick, or trying to do without medical attention. A new public insurance program would be intended to offer coverage to those who currently do not have it or who want an alternative to private insurance. Obama last year proposed "a new public plan based on benefits available to members of Congress that will allow individuals and small businesses to buy affordable health coverage." It is part of an initiative to cut the number of uninsured while improving healthcare quality and controlling costs that are forecast to reach $2.5 trillion this year. Leading congressional Democrats have embraced the idea but the specifics are still being worked out. 'TROJAN HORSE' "There are, obviously, different ways of designing a public plan that would have different effects," White House budget director Peter Orszag told a Senate hearing this week. Robert Moffit, a health policy expert at the conservative Heritage Foundation think tank, said he believes some proponents of a new public program see it as a first step toward a full government takeover of the healthcare system. "It's a Trojan Horse for national health insurance where you basically rig the competition against private health insurance and you set up the economic incentives to encourage employers to dump people into the public plan," Moffit said. Democrat Henry Waxman, who as chairman of the House of Representatives Energy and Commerce Committee will play a major role in getting legislation through Congress, envisioned "a public plan like Medicare or some variation of it." "This system will work better if there is a public plan available as an alternative to private coverage," Waxman told a meeting of the American Medical Association this week. "Don't let anyone tell you that what I'm interested in is socialized medicine. I tell you flatly that is definitely not the case." Changes in the U.S. healthcare system have been difficult to get through Congress, such as when President Bill Clinton's efforts failed in 1993. Republicans including Representative Roy Blunt, a leading House Republican voice on health care policy, have signaled that any new public insurance program will draw particular scrutiny. Robert Zirkelbach of America's Health Insurance Plans said the insurance industry group has "serious concerns" about the impact of a new public program on private insurers. "We think it would be almost impossible to create a level playing field," he said. An analysis by the Lewin Group, a healthcare policy consulting firm, predicts a migration of people out of private insurance if a new public plan is created. If all businesses and individuals are able to get health insurance through the program, the plan could end up enrolling 130.5 million people, including 118.5 million people who currently have private insurance, according to the Lewin Group's analysis. If only small businesses and individuals could use the program, up to 31.8 million people could leave private insurers for the public plan. Under that scenario, the public program could have enrollment of 42.7 million people, the Lewin Group said. (Editing by Maggie Fox) © Thomson Reuters 2009 All rights reserved |
| 6. Willis Group Holdings to Move Chicago Area Offices to Sears Tower; Building to Be Renamed Willis Tower |
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Global Insurance Broker Will Occupy Multiple Floors in Iconic
Building This Summer
NEW YORK--(BUSINESS WIRE)--Willis Group Holdings (NYSE: WSH), the global insurance broker, today announced that Willis will become a new tenant of Sears Tower, and under an agreement with the building’s owners, the Chicago icon and tallest building in the Western Hemisphere will be renamed Willis Tower. Willis plans to consolidate five area offices and move nearly 500 Associates into Willis Tower, initially occupying more than 140,000 square feet on multiple floors. Willis said its move to the new space, at $14.50 per square foot, will result in significant real estate cost savings, and that there is no additional cost to the company associated with renaming the building. “Having our name associated with Chicago’s most iconic structure underscores our commitment to this great city, and recognizes Chicago’s importance as a major financial hub and international business center,” said Joseph J. Plumeri, Chairman and Chief Executive Officer, Willis Group Holdings. “We are delighted to be making this bold move and firmly establishing our leading presence in one of the nation’s biggest insurance markets, and it will be wonderful for all our Associates to work under one roof.” The building, first opened in 1973, is recognized worldwide as a center for business, and an architectural signature of Chicago’s skyline. “We are proud to add the Willis name to the tower, and welcome the company and its 500 Associates to this premier Chicago address,” said John Huston, Executive Vice President of American Landmark Properties, Ltd., part of the real estate investment group that owns the building. “This key new tenant underscores the importance of the building as a destination for successful businesses.” www.willis.com |
| 7. Conning Research: General Liability Insurance Losses and Expenses Likely to Rise Dramatically |
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-Specialist Focus May be the Path to Success HARTFORD, Conn., March 12 /PRNewswire/ -- The General Liability line of insurance has produced industry-wide combined ratios below 100 percent for the past two years, but this profitable underwriting performance is unlikely to continue, according to a new study by Conning Research and Consulting. "We project that the next couple of years will see a moderating in General Liability premium reduction, gradually leading to a modest increase by 2010," said Mark Jablonowski, analyst at Conning Research & Consulting. "However, losses and expenses are forecast to grow more quickly, with a resulting rise in combined ratios reaching 107 percent by 2010. In the longer run, the future of the General Liability insurance market will play itself out between the cumulative effects of small to moderate losses and the rising prospect of mega-risks." The Conning Research study, "General Liability: Staying Relevant (and Profitable) in the New World of Risk," identifies the issues facing the market and a number of considerations and actions that insurers should address to respond. "History has shown us a cyclical increase in General Liability losses in periods following recessions. At the same time, longer term secular trends point to an increase in both smaller claims and larger mega risks. Meeting the challenges to profitability requires a variety of considerations on the part of insurers," said Stephan Christiansen, director of insurance research at Conning. "Foremost is the ability to monitor trends in costs--particularly losses--and demand. Longer term, the best prospects for General Liability insurers may come from expanding the model of specialization in risk that has already proven to be a successful differentiator among companies." "General Liability: Staying Relevant (and Profitable) in the New World of Risk" is available for purchase from Conning Research & Consulting by calling (888) 707-1177 or by visiting the company's web site at www.conningresearch.com. |
| 8. John Hancock Introduces New Needs-Based Tools for Long-Term Care (LTC) Insurance Marketing |
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New materials help financial representatives sell LTC insurance
in today's tough economic conditions BOSTON, March 12 /PRNewswire/ -- John Hancock today is launching a set of needs-based marketing and prospecting tools to help financial representatives reach out to consumers and grow their long-term care insurance business. Included are new brochures, new direct mail tools such as letters and postcards, as well as seminar materials. The company has also created a training guide for financial representatives on the new materials and the markets they serve. "The recent financial turbulence and corresponding loss of retirement savings has made it even more important for consumers to plan ahead for long-term care," said Laura Vail Wooster, vice president of marketing, John Hancock Long-Term Care Insurance. "Now, more than ever, long-term care insurance can be valuable in helping to protect individuals' nest eggs, so we've created these materials to help representatives reach out to prospects and start the conversation." The new brochures contain updated statistics, new messaging along with a new design, and they educate consumers on long-term care, the importance of planning ahead, and the value of long-term care insurance. In addition, new target market prospecting tools including brochures, letters, postcards, advertisements and seminar tools are now available. The training guide provides the latest long-term care information, as well as tips and techniques for talking to clients about long-term care insurance. "The new materials have been designed to accommodate the many selling styles of those who sell our long-term care insurance products -- whether they are specialists or financial planners who sell just one or two policies a year. We hope the materials will help them grow their long-term care insurance business," said Wooster. The materials are available to download and/or order from www.jhltc.com for representatives in the 24 non-file states beginning March 16th. Additional state approvals of the materials are expected within the next few months. |
| 9. Synergistic Acquires Labor First |
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Synergistic Healthcare, a leading provider of HSA programs and
HSA enrollments, is proud to announce the acquisition of Labor
First. Labor First is a national leader in the distribution and enrollment of worksite marketing programs to the labor marketplace, representing a diverse group of labor unions. The acquisition of Labor First will expedite Synergistic’s market share in the national labor market. The management team of Labor First will report to Steve Sarno, Senior Vice President of Labor Relations for Synergistic Healthcare. For more information, contact Synergistic’s New Jersey headquarters: Linwood Professional Building 505 W. Hamilton Ave Suite 105 Linwood, NJ 08221 (609) 788-8025 marketing@synergistichealthcare.com Visit us on the web at www.synergistichealthcare.com |
| 11. Health and Fitness Tops Consumers' List of Worries, According to Northwestern Mutual Charitable Campaign |
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FOUNDATION DONATES $1 MILLION TO YMCA, HABITAT FOR HUMANITY -
NEW ORLEANS, SUSAN G. KOMEN AND FEEDING AMERICA MILWAUKEE, March 12 /PRNewswire/ -- When Northwestern Mutual asked people to let their worries go as part of an engaging interactive website, www.letyourworriesgo.com, more than 42,000 visitors to the site chose Health & Fitness as their top concern. Based on these votes, the Northwestern Mutual Foundation has decided to contribute $400,000 to Activate America(R), the YMCA's response to the nation's health crisis, which helps individuals and families adopt and maintain healthy habits and behaviors, and helps create and sustain healthier communities. The gift includes support for YMCA Healthy Kids(R) Day, a free, annual celebration and core component of Activate America. "YMCA Healthy Kids Day is the nation's largest health day for kids and families focused on improving physical, emotional and spiritual well-being in a fun and motivating environment," said Jonathan Lever, national director of Activate America. "This contribution will go a long way to help teach kids and families across America about the healthy behaviors and practical lifestyle changes they can adopt to take better care of themselves and each other." Let Your Worries Go is an integrated marketing and charitable campaign developed by Downtown Partners Chicago that gave visitors to the site an opportunity to select some of life's greatest concerns, choose a mode of transportation and watch as their worries were sent away. In total, visitors let nearly 300,000 worries go with a medieval catapult, rocket ship, submarine or hot air balloon over the nine-month campaign that ended December 31, 2008. Concerns were both societal and wealth management-related. Those visitors who had financial worries were provided the opportunity to contact one of the more than 7,000 Northwestern Mutual Financial Network representatives across the United States trained to help people achieve long-term financial security. The top three worries selected by the public included: health and fitness, natural disasters and wealth-accumulation, followed by education funding, illness, financial security, retirement planning, and hunger. Northwestern Mutual Foundation is contributing a total of $1 million to four non-profit agencies that help alleviate these worries, based on the number of votes received for each. In addition to the YMCA gift, Habitat for Humanity is receiving $250,000 for New Orleans; Susan G. Komen for the Cure(R) is receiving $200,000; and Feeding America is receiving $150,000. "During this time when every dollar counts, the Let Your Worries Go campaign is a great way for the Northwestern Mutual Foundation to make a meaningful impact across the country," said Deanna Tillisch, director - corporate affairs. "We're pleased to help address health and well-being concerns with a considerable grant to the YMCA, and provide support for disaster relief, cancer research and alleviating hunger." WWW.LETYOURWORRIESGO.COM was recognized as "site of the day" on March 19 by Favourite Website Awards (FWA). It also received the Outstanding Web Site Award from the Web Marketing Association, The Viral Hall of Fame Award from Marketing Sherpa and the Best in Show Award from W3 Award Winner. The Northwestern Mutual Foundation The Northwestern Mutual Foundation has honored its mission -- inspiring human potential through lifelong learning and community commitment -- by granting support in three focus areas: Education, Health and Human Services, and Arts and Culture. The Foundation is the largest corporate giver in the state of Wisconsin, contributing $19 million nationally and locally in 2008. http://www.northwesternmutual.com |
| 16. RiskMeter Adds Foreclosure Monitoring Services for P&C Insurers |
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Boston, MA, March 2009 - CDS Business Mapping, LLC., a leader in
online hazard mapping, today announced it has added foreclosure
monitoring to its RiskMeter Online service. All users have to
do is submit an excel file, and the RiskMeter Online will flag
which policies are in the foreclosure process.
Many insurers are starting to realize that once a property enters a state of foreclosure, the potential for losses can increase, due to vandalism, water damage, arson, etc. Insurers who are able to identify policies that are in the foreclosure process will be able to take proactive steps to minimize losses by: • Requesting a property inspection • Determining occupancy status (occupied, vacant) • Revising coverage • Increasing premiums • Issuing a cancellation or non-renewal notice “Due to the current economic conditions, foreclosures will continue to be a problem in 2009 and beyond,” explains Dan Munson, Founder, RiskMeter Online. “With unemployment figures rising, home values depreciating, fewer people qualifying for refinancing and more mortgages underwater, homeowners are either walking away or finding it tougher to make their mortgage payments. Insurers who can identify policies in the early stages of the foreclosure process, will at least be able to take proactive steps to minimize any losses,” says Munson. www.RiskMeter.com |
| 17. RMS Expert Talks On Quantifying The Terrorist Threat Under The Obama Administration |
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Calif – March 12, 2009 – Dr. Gordon Woo, terrorism risk expert
at Risk Management Solutions (RMS), will today present his
research on the terrorist threat under the Obama administration
at a conference hosted by the American Association for the
Advancement of Science in Washington DC.
Dr. Woo has analyzed the susceptibility of terrorist conspiracies to interception; using advanced mathematical formulae he has shown quantitatively the crucial importance of reducing the number of sympathizers to terrorist causes through the ‘hearts and minds campaign’. “With the new administration being committed to progressing this specific agenda, the future prospects for homeland security are promising, provided that vigilance is maintained,” he commented. “Essential to this is border security.” Dr. Woo will demonstrate the value to the U.S. of the new enhanced security requirements for those travelling under the visa waiver program. With Pakistan being a violent epicenter of Islamist militancy, as shown by recent attacks in Islamabad and Lahore, Pakistanis with European passports are now subject to heightened U.S. vigilance. “Countering terrorism with mathematics is not just the preserve of cryptographers deciphering secret encoded communications,” said Dr. Woo, the chief architect of the RMS® U.S. Terrorism Risk Model. “Other mathematical experts are involved and, using techniques such as game theory, will be advancing our understanding behind terrorist activities at this conference.” For more information about the 5th Conference on Mathematical Methods in Counterterrorism, visit: http://www.rit.edu/cos/math/cmmc/conferences/2008/ |
| 19. MIB Life Index Reports North American Life Insurance Activity up 1.1% in February |
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BRAINTREE, Mass., March 12 /PRNewswire/ -- North American
application activity for individually underwritten life
insurance was up +1.1% in February, year-over-year, according to
the MIB Life Index(SM). Application activity from January to
February 2009 was up +12.9%. Year-to-date (YTD), North American
activity is off -1.7% compared to the same two months last year.
Percent changes in February's Life Index may be attributable to
the Life Index methodology rather than a change in underlying
industry trends*.
U.S. application activity was up +1.0% in February year-over-year, all ages combined. Application volumes for people ages 45-59 and ages 60+ grew by +3.9% and +14.9% respectively, year-over-year while ages 0-44 were off -2.9% in February. Application activity is off -1.6% all ages combined year-to-date. Canadian application activity increased +1.6% in February year-over-year all ages combined. By age grouping, Canadian application activity mirrored that of the U.S. Application volumes for people ages 45-59 and ages 60+ grew by +6.2% and +12.5% respectively, year-over-year while ages 0-44 were off -2.0% in February. February activity was up +29.2% over prior January, demonstrating growth over the 19-20% characteristic for this time period. Year-to-date, application activity is off -2.3% all ages combined. www.mib.com/lifeindex |
20. INSURANCE NEWSCAST "Pictures Of The Day"
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Madoff pleads guilty to fraud, says "deeply sorry". Accused
swindler Bernard Madoff (bottom) enters the Manhattan federal
court house in New York March 12, 2009. REUTERS/Shannon
Stapleton |
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Obama signs big spending bill despite earmarks. U.S. President
Barack Obama listens to Treasury Secretary Tim Geithner (L)
during their meeting in the Oval Office of the White House in
Washington March 11, 2009. REUTERS/Kevin Lamarque |
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World's richest not so rich, Gates regains top spot. Microsoft
founder Bill Gates speaks during a news conference at the World
Economic Forum (WEF) in Davos January 30, 2009.
REUTERS/Christian Hartmann |
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Sarkozy says France will rejoin NATO command. France's President
Nicolas Sarkozy announces in Paris that France would rejoin
NATO's integrated military command, March 11, 2009, more than 40
years after his predecessor Charles de Gaulle pulled out of the
alliance's inner circle. REUTERS/Philippe Wojazer |
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Man with grudge kills 10 in Alabama shooting spree.
Investigators work at one scene of a shooting spree in downtown
Samson, Alabama, March 10, 2009. REUTERS/Mark Wallheiser |
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Britain's Prince Charles shakes hands with Brazil's President Luiz Inacio Lula da Silva as Charles's wife Camilla, Duchess of Cornwall and Brazil's first lady Marisa Leticia (R) look on before a meeting at the Planalto Palace in Brasilia March 11, 2009. REUTERS/Roberto Jayme (BRAZIL POLITICS ROYALS) |
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Skyscrapers loom over a flagpole carrying the Canadian flag in the financial district in Toronto, March 11, 2009. Canada's economy will contract more sharply this year than the government has predicted due to its reliance on international trade and its high exposure to commodity prices, two reports said on Wednesday. REUTERS/Mark Blinch |
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Palin's daughter Bristol splits from fiance: report. Levi
Johnston talks with his girlfriend Bristol Palin in the VIP box
on the floor of the 2008 Republican National Convention in St.
Paul, Minnesota September 3, 2008. REUTERS/Damir Sagolj |
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Archeologists find rare Maya panels in Guatemala. Archeologist
Richard Hansen explains the detail on one of two newly
discovered Mayan panels in the northern Guatemalan Peten jungle
March 7, 2009. REUTERS/Eduardo González SCSPR/Handout |
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A polar bear shakes his body to remove water at the St. Felicien Wildlife Zoo in St. Felicien, March 5, 2009. REUTERS/Mathieu Belanger |
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Hostesses pose for pictures on Tiananmen Square during the closing ceremony of the Chinese People's Political Consultative Conference (CPPCC) in Beijing March 12, 2009. REUTERS/Reinhard Krause |
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A bear lies on an artificial stone in a zoo in Warsaw March 9, 2009. Bears in the zoo in the Polish capital do not hibernate in winter. REUTERS/Vasily Fedosenko |
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A boy marches together with a military brass band during Lithuania's independence restoration celebrations in Vilnius March 11, 2009. REUTERS/Ints Kalnins |
| 1. U.S. Lawmakers Propose Financial Products Watchdog |
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Tue Mar 10, 2009 1:21pm EDT
WASHINGTON, March 10 (Reuters) - U.S. senators introduced legislation on Tuesday to create a Financial Product Safety Commission, which would crack down on predatory or deceptive financial practices. Democratic Senators Dick Durbin from Illinois and Charles Schumer from New York said U.S. regulators had failed to adequately protect consumers when trying to monitor the safety and soundness of financial firms. "This will be a new regulator that will focus like a laser on financial products and financial products alone," Schumer said at a news conference. "The Federal Reserve was supposed to do this, but they were asleep at the switch." Sen. Ted Kennedy of Massachusetts also sponsored the legislation, and House Democrats expect to introduce a similar bill next week. The lawmakers said the commission would have rule-making authority and would coordinate enforcement with the other federal and state regulators. The commission will not take away powers from any of the existing agencies, they said. The commission will be responsible for identifying practices that undermine sound markets and will educate consumers on the responsible use of financial products and services. Elizabeth Warren, the head of a congressionally appointed oversight panel for the government's financial bailout, conceived the idea of the commission. She said the global economic crisis could have been averted if proper safeguards had prevented excessively risky financial products from proliferating around the world. "Consumer financial products were at the front end of the destabilization of the American economic system," Warren said at the news conference. "When you have good safety standards, you have a floor, and competition is then consumer-friendly competition." (Reporting by Karey Wutkowski; Editing by Lisa Von Ahn) © Thomson Reuters 2009 All rights reserved |
| 10. AHIP, Healthways, Gallup to Release Definitive Rankings of U.S. Well-Being |
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Based on the Ground-Breaking Gallup-Healthways Well-Being
IndexTM, AHIP to Provide State and Congressional District
Well-Being Reports
WASHINGTON & NASHVILLE, Tenn.--(BUSINESS WIRE)--Today, Gallup, Healthways and America’s Health Insurance Plans (AHIP) are pleased to announce publication of one of the most powerful tools ever created for measuring and evaluating America’s relative health, well-being and prosperity. Based on comprehensive data derived from the landmark Gallup-Healthways Well-Being Index (WBI), the AHIP State and Congressional District Reports will provide measurements, both composite and in-depth, of health and well-being in all 50 states and 435 congressional districts, as well as the District of Columbia. The Gallup-Healthways Well-Being Index is the definitive barometer of quality of life in America, drawing data from 1,000 surveys per day, seven days per week to measure how Americans are faring physically, emotionally, socially and economically at any given point in time. The WBI is the largest effort ever undertaken to measure America’s comprehensive well-being, encompassing more than 423,000 interviews since its January 2008 launch. It is an invaluable tool for government policy-makers, community leaders, media agencies, employers, health plans and health care providers. The AHIP State and Congressional District Reports provide a deeper look into the specific needs of communities across the country. These reports include an overall composite score for each state and congressional district, as well as sub-index scores in six domains: Life Evaluation, Emotional Health, Physical Health, Healthy Behavior, Work Environment and Basic Access. Unlike other surveys, the WBI measures the comprehensive well-being of individuals across the full spectrum of their lives and activities, both nationally and locally, revealing surprising variations among regions and demographic groups. States or congressional districts with high overall rankings can score low on specific domains like Work Environment or Emotional Health. Conversely, low-ranking states or districts may score high on Emotional Health but low on Basic Access. Some highlights of the new reports include: Utah, Hawaii, Wyoming, Colorado and Minnesota top the state rankings California’s 14th Congressional District, located between San Francisco and San Jose, is highest among congressional districts The Congressional District reports will be issued annually by district and bi-annually by state. Complete ranking data and ongoing analysis will be provided through AHIP’s proprietary HiWire Website, www.ahiphiwire.org, and through the Gallup-Healthways Well-Being Index Website, www.well-beingindex.com. “These data are a national wake-up call to re-orient our system toward preventive care, wellness and chronic care management,” said Karen Ignagni, President and CEO of AHIP. “As members of Congress focus on health care reform, these data will serve as an important resource to gauge the true health and well-being of their constituents. This project will shine a light on often overlooked issues affecting the American people, including disparities in access to care and barriers to healthy lifestyles.” Beyond medical condition and access to health care coverage and services, the Index questions respondents about their economic, professional, emotional and social circumstances. With Index data, it’s possible to quantify and establish a correlation between the places where people work and the communities in which they live and their well-being. Over the next quarter century, the Index will generate more than nine million individual responses. Changes in condition can be tracked over time, and the introduction of both controlled and uncontrolled variables considered. Discrete populations can also be ranked one against another for a stratified view of their relative well-being. “The Index is about more than measurement,” said Ben R. Leedle, Healthways Chief Executive Officer. “Future progress in health care and health care insurance reform is going to require all of us to rethink the definition of what health really means. There’s more to well-being than a person’s physical state, and the scientific information we see in the rankings, and throughout the WBI as a whole, reveals a clear and compelling need to dramatically shift our approach to one of prevention and policies that emphasize long-term well-being in every community.” “Health care costs will break our economic system in the next ten years and the only solution lies within significantly lowering the total per person costs. There are no other solutions," said Jim Clifton, Chairman and CEO of Gallup. "Beginning today, we must hold every leader, whether elected or appointed, accountable because the only true solution lies within ‘requiring’ dramatic, measurable improvement of American’s physical and mental well-being at city and state levels and most importantly at the congressional district level." For additional information, go to www.well-beingindex.com. |
| 12. Simply Unum Offers New Benefits Solutions in Florida |
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Simplifies Benefits for Small to Mid-Sized Businesses
TAMPA, Fla.--(BUSINESS WIRE)--Small and mid-sized businesses in Florida now have access to Simply Unum, a new approach to employee benefits that can help control costs, simplify administration and offer flexible benefits choice. “Unum (NYSE:UNM) has a long history of serving Florida, and our sales and service professionals in Tampa are excited to be able to offer Simply Unum in the state,” said Tony Romano, Unum’s Senior Market Manager in Tampa. Created specifically for employers with fewer than 500 employees, Simply Unum provides a base of group disability and life insurance coupled with voluntary benefits. With more than 28,000 product combinations possible, an employer can offer benefit options that best meet the specific needs of their workforce at a price that doesn’t strain the bottom line. And Simply Unum operates on a single technology platform, creating one path from benefit package design to quoting to enrollment to ongoing billing and administration. The advantages of simple, online benefits administration and faster turnaround for policy booklets helped sell the first Simply Unum case in Florida on the first day it was available in the state. “The administrative ease of Simply Unum has created a lot of buzz,” said Bryan Shannon, the sales representative in Unum’s Tampa office who sold the first case of Simply Unum in Florida. “It is great to be able to offer a solution that takes some of the administrative burden off of Human Resources.” Across the benefits industry, the needs of small to mid-size companies are driving a focus on flexible benefits choices, said Dave Mosher, Unum’s Senior Market Manager in Fort Lauderdale. “Simply Unum offers these choices in a package that provides effective education to employees, keeps plan administration simple and costs contained,” he said. Simply Unum also offers employee education, enrollment and service in Spanish to meet the needs of an increasingly diverse workforce. Unum provides benefits to more than 425,000 employees in Florida, including more than 130,000 educators and schools administrators; 56,000 health care professionals; and 22,000 legal professionals. A commitment to responsive local service, benefits industry expertise and strong relationships drives Unum’s philosophy, Romano said. “Unum has 50 professionals who live and work in Florida to serve benefits brokers across the state,” he said. Simply Unum launched in states across the country beginning in April 2008 after a highly successful pilot phase in target markets. Now, more than 2,500 lines of coverage have been sold through Simply Unum nationwide, and the benefits solution is available in 46 states. “It has never been more important for benefits providers to offer innovative products that can help employers make the most of their budgets while giving their employees access to benefits that can help protect them from the unexpected,” Romano said. “At Unum, we’re proud to be able to offer that, along with a strong commitment to local service in the communities we call home.” For more information about Simply Unum, visit www.unum.com/simplyunum. About Unum Unum (www.unum.com) is one of the leading providers of employee benefits products and services in the United States and the United Kingdom. Through its subsidiaries, Unum Group provided nearly $6 billion in total benefits to customers in 2008. |
| 13. Insurance.com Adds Infinity Insurance to Online Auto Insurance Comparisons |
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SOLON, Ohio--(BUSINESS WIRE)--Insurance.com, the leading online
independent auto insurance agency in the country, today
announced that Infinity Insurance is the newest company to offer
comparison car insurance quotes directly to consumers at
www.insurance.com and by phone.
"We're pleased to have Infinity Insurance as part of our lineup in California," reports Sam Belden, Vice President of Strategic Alliances at Insurance.com. "They extend our group of companies to 15 nationally, joining well-known brands like The Hartford, Liberty Mutual, Progressive, Safeco, and Travelers Insurance.” Infinity Insurance is one of the largest specialty writers of car insurance in the United States. The brand is best known for bringing affordable auto insurance and service innovations to consumers in underserved markets . A.M. Best ranks Infinity 4th on a recent list of top 15 insurance stocks. Greg Fasking, AVP National Marketing for Infinity, expressed the company’s excitement over the relationship citing that, “Savvy auto insurance shoppers, who compare offers online, over the phone, or by working with experienced independent insurance agents, regularly choose Infinity. Insurance.com brings a new level of accessibility to our products.” "We strongly believe that when insurance companies compete, consumers get the best rates, often saving hundreds of dollars on their auto insurance," stated Belden. "By adding Infinity Insurance to our offering, we are reaffirming that commitment to consumers." www.InfinityAuto.com |
| 14. Americans Believe They're Savvy About Insurance, But NAIC Insurance IQ Tells Different Story |
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On average, people surveyed only able to correctly answer four
out of 10 basic insurance questions
KANSAS CITY, Mo., March 10 /PRNewswire/ -- In these uncertain financial times, knowledge is your best policy -- especially when it comes to insurance. According to a new survey commissioned by the National Association of Insurance Commissioners (NAIC), a vast majority of Americans believe they are smart about insurance, but a deeper look at the issue tells a different story. If you, too, believe you have a high "Insurance IQ," see if you can answer these three basic questions: Does auto insurance automatically cover a rental car? Can you own a house without homeowners insurance? In general, how much life insurance is recommended in relation to your annual salary? If you answered, no, yes and 5-7 times your annual salary, you bested the majority of 1,000 American adults who got them wrong in a 10-question quiz designed to test the nation's Insurance IQ. Indeed, on average, Americans flunked the test with only a 40 percent score -- a solid "F" by most U.S. educational grading standards. This apparent lack of knowledge contrasts sharply with confidence levels expressed by survey respondents. Before taking the IIQ, nearly 60 percent said they feel "very confident" when making insurance decisions overall, with only 15 percent voicing any insecurity about their decision-making abilities. In Today's Economy, Consumers Need to Understand Their Insurance Coverage With rising joblessness and falling home prices, Americans need to make sure they understand what their insurance policies cover. By making careful, informed decisions about their insurance, consumers can save money and ensure long-term protection for themselves and their loved ones. "Now, more than ever, consumers need to be mindful of the impact their insurance decisions can have on their financial future," said NAIC Chief Executive Officer Terri Vaughan. "By arming themselves with the facts -- and improving their Insurance IQ -- consumers can make sure they are adequately protected, without paying more than they should for that coverage." Among the NAIC's key findings: Health: Less than half of those surveyed (49 percent) know that if they leave their job and choose the federal Consolidated Budget Reconciliation Act (COBRA) to continue their health benefits, they must pay the full cost of coverage. However, 58 percent are aware that health insurance will not cover their living expenses if they became disabled and cannot perform their job. Home: Just one in five respondents (19 percent) realizes that the requirement for private mortgage insurance (PMI) on a newly purchased home depends on the size of the down payment and lender; almost 30 percent think PMI is required by law. Less than 50 percent of people surveyed realize they can legally own a home without homeowners insurance (although lenders will not allow it). Life: Only 14 percent of respondents correctly know that the amount of life insurance typically recommended for individuals is 5-7 times your annual salary; 29 percent believe 2-4 times an annual salary is the recommended amount; and nearly 40 percent simply say they have no idea. Auto: Less than two-thirds of Americans (62 percent) are aware of the top three factors that impact the cost of auto insurance coverage (i.e., accident history, vehicle safety features, geography). And, only four in 10 respondents (41 percent) know that auto insurance does not automatically cover a rental car. How to Improve Your Insurance IQ Here are four useful tips to help Americans better understand their insurance policies: 1. Get Savvy. Before shopping for a policy, learn as much as you can about insurance. The NAIC's award-winning "Insure U" consumer-education Web site (www.insureUonline.org) is an unbiased, expert resource to help you understand the types of insurance available, the factors that affect price and the insurance options for your personal situation. 2. Shop Around; Do Your Homework. After learning the insurance basics, get premium quotes from several companies for the amount of coverage you require. The NAIC survey found that although many Americans rely on personal experience and recommendations from family and friends when making insurance decisions, nearly 90 percent do not gather information from other, more reliable sources of information -- such as their state insurance department. State insurance regulators offer several online tools to assist consumers with the insurance-buying process. The NAIC's Consumer Information Source https://eapps.naic.org/cis) provides fundamental facts about insurance companies, including complaint ratios, licensing details and key financial data. 3. Before Committing: Stop. Call. Confirm. If you are unsure about an insurer or agent you are working with 1) Stop before signing any paperwork or writing a check; 2) Call your state insurance department (easily reached by phone); and 3) Confirm the company or agent is legitimate and licensed to do business in your state. Visit www.naic.org/state_web_map.htm to link directly to your state insurance department's Web site. 4. Review Your Policy. Do not wait until you need to file a claim before evaluating the scope of your coverage. The Insurance IQ study found that 60 percent of respondents do not periodically review their policy -- that is, they wait until they are filing a claim or renewing their coverage. Twenty-five percent admit rarely or never looking at their policies. By understanding your policies, you can be prepared for any situation and, potentially, save money by avoiding unnecessary costs. Here is one other important element to remember: Throughout the year, you may encounter changes in employment, salary, geographic location and/or family dynamics. These factors affect your insurance options and the amount of coverage you need. Any time your life situation changes, be sure to review your insurance coverage and make any necessary adjustments. Want to see how your insurance knowledge stacks up against the rest of America? Go to www.insureUonline.org and take the Insurance IQ quiz to see how savvy you are. |
| 15. Fox Insurance Company Recognized Among Growth Leaders in Stand-Alone Prescription Drug Plans for Retirees. |
| New York, NY, March 10, 2009 – Fox Insurance Company (the Company), a New York-based Medicare Part D provider was recognized by leading health care business insurance analysis company, Mark Farrah Associates as one of the top growing stand-alone prescription drug plans in the United States. According to the analyst’s newsletter, Healthcare Business Strategy, Fox Insurance Company experienced the largest percentage gains (more than 800 percent) among top growth plans over the last year. The analyst observed that Fox Insurance Company’s strategy, which is to focus on its Employer Group Waiver Plans (EGWP), appears to be working, citing the Company’s recent agreement with Premier Consulting. From 2008 to 2009, Fox Insurance Company has increased its membership by 500 percent, which, among other programs to be announced in the near future, will contribute to anticipated 2009 revenue of $200M. www.foxegwp.com |
| 16. Everything You Wanted to Know About Certificates of Insurance” |
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Big “I” Virtual University to Host Certificates of Insurance
Webinar ALEXANDRIA, Va., March 10, 2009 — The Independent Insurance Agents & Brokers of America (the Big “I”) today announced that the Big “I” Virtual University will be presenting a two-part webinar on Certificates of Insurance on March 19 and April 16 at 2:00 p.m. Eastern. “The independent agency system has been plagued by unreasonable and too often onerous requests for certificates of insurance and related documentation and it’s getting out of control,” says Madelyn Flannagan, Big “I” vice president for education and research. “Owners, general contractors, lenders, and landlords are making demands that agents and insurers simply cannot comply with—legally or practically. The key to preventing many of the risks is in continuing education, such as the Virtual University webinars.” The purpose of this webinar is to provide a comprehensive review of certificate of insurance issues. While the focus of this program is on certificates and evidences of insurance, it also addresses critical peripheral issues such as contractual risk transfer and additional insureds. “Although they obviously serve an important function, certificates of insurance typically generate little or no revenue but create significant costs for agencies,” says Bill Wilson, CPCU, ARM, Big “I” associate vice president and Virtual University director. Webinar is short for “web based seminar.” Instead of meeting in a conference room, the training takes place via the internet with the visual portion on the screen and the audio through the computer or phone. For more information, visit the Virtual University website: http://www.iiaba.net/vu. www.independentagent.com |
| 18. ACORD Announces New Designation Program: The ACE |
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Enrollment Open for First Class, Graduation Set for May 2010 PEARL RIVER, NY - March 10, 2009 - ACORD announced the creation of a new designation program for standards implementers and the opening of enrollment for its first examination. The designation is called the ACE, for ACORD Certified Expert, and the program's goal is to create and maintain a large pool of experts who know, understand, and can implement ACORD standards to support the industry. "The ACE designation program meets a specific industry need for ACORD Standards implementation experts," said Beth Grossman, assistant vice president, Education & Training, ACORD, who is spearheading this effort. "Organizations from insurers to solution providers will be able to more easily find the resources they need." An ACE-certification will mean that an individual has received a consistent training, passed the exams required for the designation, and is up to date on the latest ACORD standards and versions through continuing education. Organizations that wish to implement ACORD standards may increase their confidence level in staff knowledge by working with an ACE-certified resource. Those interested in learning more about the ACE can email Beth Grossman at bgrossman@acord.org or contact ACORD Member Services at memberservices@acord.org and ask to be added to the mailing list. http://www.acord.org |
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| 19. CAA Expands To Oklahoma & Kansas |
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COMBINED AGENTS OF AMERICA ANNOUNCES EXPANSION OUTSIDE TEXAS
WITH TWO NEW MEMBERS AT QUARTERLY MEETING
AUSTIN, Texas, March 10 – Combined Agents of America, LLC (CAA), announced its landmark expansion outside of Texas and into the broader south central region of the country with two new members, Ed Berrong Insurance Agency based in Oklahoma and Bridges Group, Inc. Insurance based in Kansas, at its quarterly meeting February 24-26, 2009 in Bastrop, Texas. Texas-based CAA is a managing general agency (MGA) committed to strengthening the independent insurance agency system across the country through profitable growth and exceptional service for its member agencies. www.combinedagents.com |
20. INSURANCE NEWSCAST "Pictures Of The Day"
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McCain, still center stage in U.S., battles big spending.
Senator John McCain (R-AZ) arrives to the Kennedy Center for
Senator Ted Kennedy's birthday celebration in Washington March
8, 2009. REUTERS/Molly Riley |
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Dalai Lama to demand Tibet autonomy, mourn past. Tibetan
spiritual leader Dalai Lama holds a prayer book during at a
temple in the northern Indian hill town of Mcleodgunj March 9,
2009. REUTERS/Fayaz Kabli |
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Brown says killings will not stop N.Irish progress. Northern
Ireland Secretary, Shaun Woodward, speaks to journalists outside
Massereene army base after two British soldiers were shot dead
and four other people wounded in a shooting on Saturday, in
Country Antrim, Northern Ireland March 8, 2009. Gunmen killed
two British soldiers and wounded four other people at an army
base in Northern Ireland but political leaders said on Sunday
the attack would not derail the peace process. REUTERS/Cathal
McNaughton |
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U.S. public transit 2008 ridership highest in 52 years. A
morning commuter walks out of the subway in New York's Times
Square March 2, 2009. REUTERS/Brendan McDermid |
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Britain's Queen Elizabeth leaves Westminster Abbey after attending the annual Commonwealth Day Observance in London March 9, 2009. REUTERS/Stephen Hird (BRITAIN ROYALS) |
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Former U.S. President Bill Clinton (L), Haitian singer Wyclef Jean (C) and U.N. Secretary-General Ban Ki-moon visit a school in the neighborhood of Cite Soleil March 9, 2009. Ban arrived in Haiti on Monday along with Clinton on a brief visit to work on an "action plan" to tackle the grinding poverty in the Caribbean state. REUTERS/ Eduardo Munoz (HAITI POLITICS ENTERTAINMENT) |
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Malaysia's King Sultan Mizan Zainal Abidin (R) and Thai Crown Prince Maha Vajiralongkorn attend a welcoming ceremony at the Royal Military Airport in Bangkok March 9, 2009. King Sultan Mizan Zainal Abidin is on a four-day visit to Thailand. REUTERS/Sukree Sukplang (THAILAND POLITICS ROYALS) |
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Britain's Prince Charles (L) speaks to Chile's President Michelle Bachelet during a state dinner at the La Moneda Presidential Palace in Santiago March 9, 2009. Prince Charles is in Chile on an official visit. REUTERS/La Moneda/Handout (CHILE POLITICS ROYALS) FOR EDITORIAL USE ONLY. NOT FOR SALE FOR MARKETING OR ADVERTISING CAMPAIGNS |
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A military delegate reads a China Daily newspaper ahead of the second plenary session of the National People's Congress (NPC) in Beijing March 9, 2009. REUTERS/David Gray |
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A girl walks over burning coal as part of the Dammaduwa festival celebrations in Anawatuna village, some 160 km (99 miles) south of Colombo, March 8, 2009. The festival is celebrated in Anawatuna once a year in March through the night till morning and is believed to give good fortune and prosperity to the village as well as to keep the evil spirits away. REUTERS/Nir Elias |
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Crufts Best in Show reserve Donny the Standard Poodle licks handler Mike Gadsby in Birmingham, March 8, 2009. REUTERS/Darren Staples |
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Ballet dancers from the Croatian National Theatre perform during a dress rehearsal of "La Bayadere" in the city of Split March 10, 2009. The play is directed by Valentina Ganibalova and will premiere on March 13. REUTERS/Matko Biljak (CROATIA ENTERTAINMENT) |
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A Barbie doll is seen inside the FAO Schwartz toy store in New York, March 9, 2009. Barbie, the iconic doll that has claimed countless hours of girls' lives in a make-believe world that mirrored real life glamour, high-fashion and fabulous careers, is turning 50. REUTERS/Shannon Stapleton (UNITED STATES ENTERTAINMENT ANNIVERSARY) |