post palado
WESTWOOD, Mass., Sept. 28 /PRNewswire/ -- North American application activity for individually underwritten life insurance was down -3.7% in August, year-over-year according to the MIB Life Index(SM). Year-to-date (YTD) U.S. and Canadian application activity remained level from July's volume, off -3.3% compared to the same period last year.U.S. application activity declined -4.8% in August year-over-year, all ages combined.
Declining activity was seen in the 0-44 and 45-59 age groups, off -6.2% and -4.1% respectively, while the 60+ age group extended a five month growth trend up +1.3% versus August 2006. YTD, U.S. application activity lags -3.6% behind the same eight month period in 2006. August activity was up +0.8% versus that of July; historical growth for this period has been +3.0% to +3.5% over the past three years.Canadian application activity was up +4.1% in August year-over-year, all ages combined.
This is the highest application volume for an August ever recorded since the inception of the MIB Life Index in 2001. Application activity was up across all three age groups: ages 0-44, up +1.9%; ages 45-59, up +7.7%; and ages 60+, up +8.8%. YTD, Canadian application activity is closing the gap to positive territory, off -1.4% compared to same period 2006.Monthly Percent Change vs. 2006 U.S. Canada Total August 2007 -4.8 % +4.1 % -3.7 % July 2007 -2.6 % +6.5 % -1.5 % YTD 2007 -3.6 % -1.4 % -3.3 % Monthly Percent Change vs. Previous Month U.S. Canada Total August 2007 +0.8 % +0.4 % +0.7 %
NAMIC Applauds House Passage of TRIA Legislation, Urges Swift Senate Action
post by palado
WASHINGTON (Sept. 19, 2007) – Bipartisan legislation to extend the terrorism insurance backstop for 15 years is a good first step on this important issue, said the National Association of Mutual Insurance Companies. The measure, H.R. 2761, passed the U.S House of Representatives by a vote of 312 to 110.
“We commend members of the House for advancing this critical piece of legislation,” said Marliss Browder, NAMIC’s senior federal affairs director. “While we wholeheartedly endorse many of the provisions in the bill, we remain concerned that the inclusion of a mandate for insurers to offer coverage for non-conventional weapons could jeopardize the ability of small and medium-sized insurers to offer terrorism coverage – to the ultimate detriment of policyholders.”
The bill would require insurers that offer terrorism coverage to make available insurance for losses from attacks by nuclear, biological, radiological and chemical agents. Such events are considered uninsurable for many insurers.
“We continue to believe that attacks using NBCR weapons would likely be so devastating to American society that the question of how to deal with them would be best served by creating a special panel to examine all the issues involved with such attacks.”
Browder said NAMIC was pleased with other elements of the legislation, including:
A reduced event trigger for federal involvement, from $100 million to $50 million, and to $5 million for a second event following an initial industry terrorism loss of more than $1 billion.
Lower insurer deductibles for conventional terrorism, from 20 percent to 5 percent, if another conventional attack exceeds $1 billion.
Extending the program for 15 years.
A reduced insurer co-pay for NBCR terrorism events, from 15 percent to as low as zero, as the size of insurer losses increase.
An opportunity for some smaller insurers to seek opt-out permission from the NBCR make available requirement where compliance with the requirement would lead to insolvency in the event of certain attacks.
“We appreciate the hard work by members of the House to get this legislation on the right track to enable all property/casualty insurers to participate in the program,” Browder said. “We look forward to working with members of the Senate to quickly pass this vital legislation, as time is of the essence. The current law is set to expire Dec. 31, less than four months from now.”
WASHINGTON (Sept. 19, 2007) – Bipartisan legislation to extend the terrorism insurance backstop for 15 years is a good first step on this important issue, said the National Association of Mutual Insurance Companies. The measure, H.R. 2761, passed the U.S House of Representatives by a vote of 312 to 110.
“We commend members of the House for advancing this critical piece of legislation,” said Marliss Browder, NAMIC’s senior federal affairs director. “While we wholeheartedly endorse many of the provisions in the bill, we remain concerned that the inclusion of a mandate for insurers to offer coverage for non-conventional weapons could jeopardize the ability of small and medium-sized insurers to offer terrorism coverage – to the ultimate detriment of policyholders.”
The bill would require insurers that offer terrorism coverage to make available insurance for losses from attacks by nuclear, biological, radiological and chemical agents. Such events are considered uninsurable for many insurers.
“We continue to believe that attacks using NBCR weapons would likely be so devastating to American society that the question of how to deal with them would be best served by creating a special panel to examine all the issues involved with such attacks.”
Browder said NAMIC was pleased with other elements of the legislation, including:
A reduced event trigger for federal involvement, from $100 million to $50 million, and to $5 million for a second event following an initial industry terrorism loss of more than $1 billion.
Lower insurer deductibles for conventional terrorism, from 20 percent to 5 percent, if another conventional attack exceeds $1 billion.
Extending the program for 15 years.
A reduced insurer co-pay for NBCR terrorism events, from 15 percent to as low as zero, as the size of insurer losses increase.
An opportunity for some smaller insurers to seek opt-out permission from the NBCR make available requirement where compliance with the requirement would lead to insolvency in the event of certain attacks.
“We appreciate the hard work by members of the House to get this legislation on the right track to enable all property/casualty insurers to participate in the program,” Browder said. “We look forward to working with members of the Senate to quickly pass this vital legislation, as time is of the essence. The current law is set to expire Dec. 31, less than four months from now.”
Insurance Commissioners Hold Coastal Issues Public Hearing
post by palado
KANSAS CITY, Mo. (Sept. 20, 2007) — National Association of Insurance Commissioners (NAIC) President and Alabama Insurance Commissioner Walter Bell, along with other members of the NAIC’s Southeastern Zone, is holding a public hearing to address insurance issues in coastal zones. Bell — along with state insurance regulators from Florida, Louisiana, Mississippi and South Carolina — will host the hearing on Monday, Sept. 24.
“There are pressing needs in the Gulf states. Rates are rising and consumers are having their policies cancelled or non-renewed.” Bell said. “Our goals are to seek input on the steps that we, as insurance regulators, will take to help ensure the affordability and availability of insurance for America's consumers — as well as bring stability to the coastal insurance market."
In addition to increasing deductibles and introducing other coverage limitations, insurers have been withdrawing from coastal markets by cancelling or non-renewing policies. Further, the cost of the insurance products in the Gulf Coast area is rapidly rising.
U.S. Representative Jo Bonner (R-Ala.) is scheduled to attend the NAIC public hearing. In addition, representatives from Travelers, State Farm, RenaissanceRe, Municipal Bond Insurance Association (MBIA) and ProtectingAmerica.org are scheduled to provide testimony. Additional witnesses are pending.
“The intent of the hearing is not to cast blame or disparage insurers for past actions,” Bell added. “State insurance regulators want to work together with the industry and interested parties to achieve stability in the marketplace. We face common problems that call for a collective solution.”
The public hearing will begin at 9 a.m. on Monday, Sept. 24, in Mobile, Ala., at The Battle House Renaissance Hotel, 26 N. Royal Street.
About the NAIC
Headquartered in Kansas City, Missouri, the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and the five U.S. territories. The NAIC’s overriding objective is to assist state insurance regulators in protecting consumers and helping maintain the financial stability of the insurance industry by offering financial, actuarial, legal, computer, research, market conduct and economic expertise. Formed in 1871, the NAIC is the oldest association of state officials.
For more than 135 years, state-based insurance supervision has served the needs of consumers, industry and the business of insurance at-large by ensuring hands-on, frontline protection for consumers, while providing insurers the uniform platforms and coordinated systems they need to compete effectively in an ever-changing marketplace. For more information, visit NAIC on the Web at: http://www.naic.org/press_home.htm.
KANSAS CITY, Mo. (Sept. 20, 2007) — National Association of Insurance Commissioners (NAIC) President and Alabama Insurance Commissioner Walter Bell, along with other members of the NAIC’s Southeastern Zone, is holding a public hearing to address insurance issues in coastal zones. Bell — along with state insurance regulators from Florida, Louisiana, Mississippi and South Carolina — will host the hearing on Monday, Sept. 24.
“There are pressing needs in the Gulf states. Rates are rising and consumers are having their policies cancelled or non-renewed.” Bell said. “Our goals are to seek input on the steps that we, as insurance regulators, will take to help ensure the affordability and availability of insurance for America's consumers — as well as bring stability to the coastal insurance market."
In addition to increasing deductibles and introducing other coverage limitations, insurers have been withdrawing from coastal markets by cancelling or non-renewing policies. Further, the cost of the insurance products in the Gulf Coast area is rapidly rising.
U.S. Representative Jo Bonner (R-Ala.) is scheduled to attend the NAIC public hearing. In addition, representatives from Travelers, State Farm, RenaissanceRe, Municipal Bond Insurance Association (MBIA) and ProtectingAmerica.org are scheduled to provide testimony. Additional witnesses are pending.
“The intent of the hearing is not to cast blame or disparage insurers for past actions,” Bell added. “State insurance regulators want to work together with the industry and interested parties to achieve stability in the marketplace. We face common problems that call for a collective solution.”
The public hearing will begin at 9 a.m. on Monday, Sept. 24, in Mobile, Ala., at The Battle House Renaissance Hotel, 26 N. Royal Street.
About the NAIC
Headquartered in Kansas City, Missouri, the National Association of Insurance Commissioners (NAIC) is a voluntary organization of the chief insurance regulatory officials of the 50 states, the District of Columbia and the five U.S. territories. The NAIC’s overriding objective is to assist state insurance regulators in protecting consumers and helping maintain the financial stability of the insurance industry by offering financial, actuarial, legal, computer, research, market conduct and economic expertise. Formed in 1871, the NAIC is the oldest association of state officials.
For more than 135 years, state-based insurance supervision has served the needs of consumers, industry and the business of insurance at-large by ensuring hands-on, frontline protection for consumers, while providing insurers the uniform platforms and coordinated systems they need to compete effectively in an ever-changing marketplace. For more information, visit NAIC on the Web at: http://www.naic.org/press_home.htm.
Clinton Calls for Universal Health Care
Posted by The Associated Press Yesterday
Democrat Hillary Rodham Clinton called for universal health care on Monday, plunging back into the bruising political battle she famously waged and lost as first lady on an issue that looms large in the 2008 presidential race.
'This is not government-run,' the party's front-runner said of her plan to extend coverage to an estimated 47 million Americans who now go without.
Her declaration was a clear message to Republicans, the insurance industry, businesses and millions of voters who nervously recall what sank her effort at health care reform 13 years ago in her husband's first term _ fear of a big-government takeover.
“I know my Republican opponents will try to equate health care for all Americans with government-run health care”
Democrat Hillary Rodham Clinton called for universal health care on Monday, plunging back into the bruising political battle she famously waged and lost as first lady on an issue that looms large in the 2008 presidential race.
'This is not government-run,' the party's front-runner said of her plan to extend coverage to an estimated 47 million Americans who now go without.
Her declaration was a clear message to Republicans, the insurance industry, businesses and millions of voters who nervously recall what sank her effort at health care reform 13 years ago in her husband's first term _ fear of a big-government takeover.
The Hartford Expects Some Lower Results
Posted by Hartford Courant
Hartford Financial Services Group Inc. said Monday that worsening hedge fund results will reduce yields on its so-called alternative investments by at least half in the third quarter.
Returns on about $2 billion in hedge funds and private equity investments will fall to 'low single digits, at best' in the period ending Sept. 30, the company said. The assets, 2.1 percent of the company's holdings, returned about 20 percent in the second quarter, said Chief Financial Officer David Johnson.
The Hartford's hedge fund returns are 'broadly representative' of the industry's results, Johnson said. Hedge funds had their worst monthly performance in more than a year in August, according to Chicago-based Hedge Fund Research Inc.
Hartford Financial Services Group Inc. said Monday that worsening hedge fund results will reduce yields on its so-called alternative investments by at least half in the third quarter.
Returns on about $2 billion in hedge funds and private equity investments will fall to 'low single digits, at best' in the period ending Sept. 30, the company said. The assets, 2.1 percent of the company's holdings, returned about 20 percent in the second quarter, said Chief Financial Officer David Johnson.
The Hartford's hedge fund returns are 'broadly representative' of the industry's results, Johnson said. Hedge funds had their worst monthly performance in more than a year in August, according to Chicago-based Hedge Fund Research Inc.
Business Intelligence Portal
post by palado
Have you spent millions of dollars and thousands of man-hours in implementing sophisticated ERP and financial systems? Can you tell your CEO right now which customers, products and channels are profitable and contributing to increased shareholder value? With ALG Software's Enterprise Performance Optimization (EPO) Suite YOU CAN. ALG Software’s EPO Suite makes superior profitability and management decisions possible. This easy-to-use, best-of-breed software solution allows managers and executives to use the valuable information they already have to easily perform profitability analytics, enterprise planning, forecasting and driver-based budgeting. Used by some of the largest most progressive insurance companies in the industry, the EPO Suite links operational and financial perspectives to deliver visibility into future performance and the insight to make it better. Learn More By Visiting the ALG Software CPM Insurance Resource Page www.algsoftware.com/insurance.
News briefs and articles on business intelligence are available below.
Have you spent millions of dollars and thousands of man-hours in implementing sophisticated ERP and financial systems? Can you tell your CEO right now which customers, products and channels are profitable and contributing to increased shareholder value? With ALG Software's Enterprise Performance Optimization (EPO) Suite YOU CAN. ALG Software’s EPO Suite makes superior profitability and management decisions possible. This easy-to-use, best-of-breed software solution allows managers and executives to use the valuable information they already have to easily perform profitability analytics, enterprise planning, forecasting and driver-based budgeting. Used by some of the largest most progressive insurance companies in the industry, the EPO Suite links operational and financial perspectives to deliver visibility into future performance and the insight to make it better. Learn More By Visiting the ALG Software CPM Insurance Resource Page www.algsoftware.com/insurance.
News briefs and articles on business intelligence are available below.
SBA FEMA Centers
post by palado
To: STATE EDITORS
Contact: Michael Lampton of the SBA, +1-404-347-3771
ATLANTA, Sept. 7 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration (SBA) announces today that the FEMA Disaster Recovery Center in Steele County will transition into a SBA Disaster Loan Outreach Center. The Center will open Monday, September 10 at 9 a.m. in Owatonna, Minnesota and will remain open until further notice at the location and time indicated below. SBA staff at the Center will continue providing one-on-one assistance to the disaster survivors who received damage from the severe storms and flooding August 18, 2007 and continuing.
The establishment of the Disaster Loan Outreach Center demonstrates the agencys commitment to ensure that every qualified individual and business receives the help they need to recover from this disaster. Assisting individuals to recover from a disaster is our primary mission. Therefore, we are encouraging those affected by this disaster to visit any of the Centers and to obtain individual assistance with their applications from our representatives, said Frank Skaggs, Director of SBA Field Operations Center East. Current Centers are located as follows:
SBA DISASTER LOAN OUTREACH CENTER
Opens: Monday, September 10, 9 a.m.
Hours: Monday - Friday, 9 a.m. to 6 p.m.Saturday, September 15; from 9 a.m. to 6 p.m.
Steele County143 W. Broadway StreetOwatonna, MN 55060FEMA/SBA Disaster Recovery CentersHours: Monday-Saturday from 9 a.m. to 7 p.m.
Sunday from 9 a.m. to Noon
Fillmore County Houston County
TRW West Automotive Bldg. Hokah Fire Station
901 Home Street Highway 44 & Hwy 16
Rushford, MN 55971 Hokah, MN 55941
Dodge County Olmsted County
Dodge Center Community Center American Legion
35 E. Main Street 11 Madison Avenue SW
Dodge Center, MN 55927 Eyota, MN 55934
Opens: Monday, Sept. 10 at 1 p.m.
FEMA/SBA Disaster Recovery Centers (Cont.)
Hours: Monday-Saturday from 9 a.m. to 7p.m.
Sunday from 9 a.m. to Noon
Steele County Winona County
143 W. Broadway Street JC Penney Building
Owatonna, MN 55060 1858 W Service Dr. (Hwy 61 &
To: STATE EDITORS
Contact: Michael Lampton of the SBA, +1-404-347-3771
ATLANTA, Sept. 7 /PRNewswire-USNewswire/ -- The U.S. Small Business Administration (SBA) announces today that the FEMA Disaster Recovery Center in Steele County will transition into a SBA Disaster Loan Outreach Center. The Center will open Monday, September 10 at 9 a.m. in Owatonna, Minnesota and will remain open until further notice at the location and time indicated below. SBA staff at the Center will continue providing one-on-one assistance to the disaster survivors who received damage from the severe storms and flooding August 18, 2007 and continuing.
The establishment of the Disaster Loan Outreach Center demonstrates the agencys commitment to ensure that every qualified individual and business receives the help they need to recover from this disaster. Assisting individuals to recover from a disaster is our primary mission. Therefore, we are encouraging those affected by this disaster to visit any of the Centers and to obtain individual assistance with their applications from our representatives, said Frank Skaggs, Director of SBA Field Operations Center East. Current Centers are located as follows:
SBA DISASTER LOAN OUTREACH CENTER
Opens: Monday, September 10, 9 a.m.
Hours: Monday - Friday, 9 a.m. to 6 p.m.Saturday, September 15; from 9 a.m. to 6 p.m.
Steele County143 W. Broadway StreetOwatonna, MN 55060FEMA/SBA Disaster Recovery CentersHours: Monday-Saturday from 9 a.m. to 7 p.m.
Sunday from 9 a.m. to Noon
Fillmore County Houston County
TRW West Automotive Bldg. Hokah Fire Station
901 Home Street Highway 44 & Hwy 16
Rushford, MN 55971 Hokah, MN 55941
Dodge County Olmsted County
Dodge Center Community Center American Legion
35 E. Main Street 11 Madison Avenue SW
Dodge Center, MN 55927 Eyota, MN 55934
Opens: Monday, Sept. 10 at 1 p.m.
FEMA/SBA Disaster Recovery Centers (Cont.)
Hours: Monday-Saturday from 9 a.m. to 7p.m.
Sunday from 9 a.m. to Noon
Steele County Winona County
143 W. Broadway Street JC Penney Building
Owatonna, MN 55060 1858 W Service Dr. (Hwy 61 &
Buy Travel, Flight and Global medical Insurance with 4to Insurance !
post by palado
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We've collaborated with WorldTravelCenter to take the hassle out of shopping for travel insurance. When you visit our partner's site, you will be instantly matched with some of the best agents in the business.
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In addition to Travel Protection Packages, you will also find information and pricing for Travel Medical Insurance, Annual Multi-Trip Insurance, Group Travel Insurance, Emergency Evacuation Plans, International Health/Life Insurance, Flight Accident or Common Carrier Accident Protection, DBA Workers Compensation, plus Individual or Group War Risk/High Risk Travel Insurance.
We represent major travel insurance providers and feature the best travel protection plans available. Compare the benefits and price of available policies and purchase the travel insurance plan that best suits your needs via our instant, safe and secure online application process.
We've collaborated with WorldTravelCenter to take the hassle out of shopping for travel insurance. When you visit our partner's site, you will be instantly matched with some of the best agents in the business.
Using Policy Picker on the WorldTravelCenter site makes it easy for you to quote, compare, buy, and save on travel insurance packages offered by leading travel insurance companies.
In addition to Travel Protection Packages, you will also find information and pricing for Travel Medical Insurance, Annual Multi-Trip Insurance, Group Travel Insurance, Emergency Evacuation Plans, International Health/Life Insurance, Flight Accident or Common Carrier Accident Protection, DBA Workers Compensation, plus Individual or Group War Risk/High Risk Travel Insurance.
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