Despite Affordable Care Act Provisions Kicking in on September 23, Insurance Alone Won't Make for a Healthier America

BOSTON, MA -- (MARKET WIRE) -- 09/23/10 -- Today, Washington enacted six major provisions of the Patient Protection and Affordable Care Act (PPACA)(1) as the first step in rolling out the new healthcare reform legislation. Yet despite expanding coverage to millions of previously uninsured Americans, unless we tackle the root causes of preventable chronic disease, businesses and individuals will still be burdened by rising healthcare cost, says Virgin HealthMiles, a leading provider of incentives-based employee health and productivity programs.

"Our Federal government is attempting to force broader access to the current supply of health services, but not addressing what's driving dramatic increases in demand," said Sean Forbes, president of Virgin HealthMiles. "Why are we waiting for people to get sick and then managing the problem? Unmanaged, preventable healthcare costs are rising at more than 10 percent annually and represent one of the largest drains on corporate income statements. Today, no other similarly material business expense is treated in such a hands-off manner. We need to be proactive in our avoidance of future preventable claims costs. Preventing the onset of lifestyle-related disease is imperative to making this happen and getting people to take more responsibility for their health is an essential element of this strategy. Only then can we address the enormous weight of healthcare costs, and right-size our bloated healthcare costs in the United States of America."

Rising healthcare costs have expanded to now represent one of the top challenges to corporate profitability and are now threatening jobs and entire families' livelihoods. To help offset rising healthcare costs, 63 percent of businesses plan to make employees pay a higher percentage of their premium costs in 2011, said the Washington-based National Business Group on Health in August, which surveyed(2) 72 companies employing more than 3.7 million people. A recent survey by the Kaiser Family Foundation also revealed that while total premiums rose by 3% to an average of $13,770 in 2010 (including employer contributions), an average worker now pays nearly $4,000 per year for family coverage, up 14 percent from 2009 and up 47 percent overall from 2005.

However, more than 75 percent of the nearly $2 trillion healthcare costs impacting businesses and their employees today stem from chronic diseases like heart disease, diabetes and some forms of cancer. The good news is chronic diseases are largely preventable with healthy lifestyle choices -- getting enough physical activity, a healthy diet, and avoiding tobacco. "Presently, health insurance doesn't measure and reward people for exhibiting the right behaviors," said Forbes. "Safe drivers are routinely awarded discounts on their auto insurance for good behavior. Shouldn't employees who do a few simple things, such as exercise, watch their weight, stop smoking and adopt other healthy lifestyle habits, benefit as part of a culture that rewards the right behaviors?"

Washington may have caught on to this disconnect. The PPACA expands provisions in existing HIPAA regulations, which currently allow employers to offer incentives of up to 20 percent of annual premiums to employees who participate in employee health programs. The Affordable Care Act increases this differential to 30 percent in 2014, with an option to increase to 50 percent at the discretion of the Secretary of Health and Human Services. The policies and provisions exist. Now, more employers need to take steps to implement them in their organizations. Taking advantage of these provisions with a prevention-focused, technology-based employee health program lets employers improve employee health, gain mechanisms to measure and manage their healthcare cost-savings strategies, and tap into funding strategies to create cost-neutral programs.

"Effectively structured and implemented employee preventative health programs are proven to drive down healthcare costs by eliminating the pre-cursors of chronic conditions before they develop. And, they create healthier, happier, and more productive employees. But unless we shift our focus to a data-driven, actively managed approach to prevention, the PPACA that has so bitterly divided our country will risk being minimally effective, at best, or fail outright at the hands of unsustainable entitlement costs driven by preventable claims," said Forbes.

About Virgin HealthMiles
Virgin HealthMiles provides employee health programs that pay people to get active. The company's Pay-for-Prevention? approach, based on physical activity and healthy lifestyle change, attracts an average of 40 percent of employees who participate, which helps organizations reduce medical costs and improve employee productivity and satisfaction. The program is offered by employers, government entities, and insurers. Over 120 industry leaders representing more than 500,000 employees across the U.S., including American Diabetes Association, Intuit, MWV, OhioHealth, Ochsner Health System, Protective Life, SunGard, SunTrust, and Timberland have selected Virgin HealthMiles' award-winning program for their employees. The company is a member of Sir Richard Branson's Virgin Group. For more information, visit www.virginhealthmiles.com

(1) http://www.healthcare.gov/law/timeline/index.html
(2) http://www.businessgrouphealth.org/pdfs/Plan%20Design%20Survey%20Report%20Public.pdf

Add to Digg Bookmark with del.icio.us Add to Newsvine Media Contact:Kathy WilsonEmail Contact781-652-0499

View the original article here

WATER: Flood insurance bill kicks $19B debt down the road -- Dodd

Our software detected that cookies are turned "off" in your browser.

Cookies need to be turned "on" to access E&E Publishing's premium content.

Please allow cookies from www.eenews.net and refresh this page. You may need to relaunch your web browser.

Need Assistance? Call: 202-628-6500 or
e-mail: mailto:pubs@eenews.net?subject=Assistance with cookies

View the original article here

Olympus Healthcare Solutions Achieves Health Insurance Portability and Accountability Act (HIPAA) Certification

MIAMI, Sept. 23 /PRNewswire/ -- Olympus Healthcare Solutions is pleased to announce that it has achieved Health Insurance Portability and Accountability Act (HIPAA) Certification. Olympus Healthcare Solutions, which includes its Olympus Managed Health Care, Inc., Healthcare Concierge Services, and Axiom Risk Management operating units, is now among a prestigious group of organizations that comply with the HIPAA regulations.

Olympus Healthcare Solutions says it is committed to ensuring the confidentiality, integrity, and privacy of all protected health information, by adopting a formal HIPAA Privacy Policy and establishing a Compliance and Security management system and Enforcement team.

Based on the audit performed in September 2010, as per the scope detailed in Regulation 45 CFR (parts 160, 162 & 164), Olympus Healthcare Solutions has been declared HIPAA Compliant.  The certification verifies that Olympus Healthcare Solutions has established and applied the applicable privacy regulations and provisions of HIPAA.

"With 15 years of expertise in  healthcare benefits and claims administration, achieving HIPAA compliance not only ensures that we are compliant with global standards but also assures the security of our customers' most sensitive information and individual health records," said  Steven W. Jacobson, CEO, Olympus Healthcare Solutions. He further adds,  "As with our ISO 9001 certification, we are pleased to have achieved this recognition and we look forward to continue to focus on providing quality products and services to our customers."

About Olympus Healthcare Solutions

Olympus Healthcare Solutions' group of companies are the leading independent providers of health care claims administration, cost containment, concierge and risk management services. Since its inception in 1994, Olympus has focused exclusively on facilitating access to health care on behalf of its health care clientele. Olympus' innovative approach to health care reduces expenses by focusing on cost up pricing, while simultaneously enhancing end user satisfaction. Olympus' products and services focus on bringing value to the payer, medical provider, and health care consumer. Olympus is privately held and 100 percent management owned.  For more information, visit www.omhc.com.

SOURCE Olympus Healthcare Solutions

View the original article here

Life Partners Leads Wednesday's AMBG as Global Insurance Index Declines 0.70%

Welcome to the A.M. Best Web Site. To browse our site you will need a frames capable browser.

Please select one of the free download options below to get a frames capable browser.

Download Internet Explorer 4.0     Download Netscape's Latest Browser Software

View the original article here

Despite Affordable Care Act Provisions Kicking in on September 23, Insurance Alone Won't Make for a Healthier America

BOSTON, MA -- (MARKET WIRE) -- 09/23/10 -- Today, Washington enacted six major provisions of the Patient Protection and Affordable Care Act (PPACA)(1) as the first step in rolling out the new healthcare reform legislation. Yet despite expanding coverage to millions of previously uninsured Americans, unless we tackle the root causes of preventable chronic disease, businesses and individuals will still be burdened by rising healthcare cost, says Virgin HealthMiles, a leading provider of incentives-based employee health and productivity programs.

"Our Federal government is attempting to force broader access to the current supply of health services, but not addressing what's driving dramatic increases in demand," said Sean Forbes, president of Virgin HealthMiles. "Why are we waiting for people to get sick and then managing the problem? Unmanaged, preventable healthcare costs are rising at more than 10 percent annually and represent one of the largest drains on corporate income statements. Today, no other similarly material business expense is treated in such a hands-off manner. We need to be proactive in our avoidance of future preventable claims costs. Preventing the onset of lifestyle-related disease is imperative to making this happen and getting people to take more responsibility for their health is an essential element of this strategy. Only then can we address the enormous weight of healthcare costs, and right-size our bloated healthcare costs in the United States of America."

Rising healthcare costs have expanded to now represent one of the top challenges to corporate profitability and are now threatening jobs and entire families' livelihoods. To help offset rising healthcare costs, 63 percent of businesses plan to make employees pay a higher percentage of their premium costs in 2011, said the Washington-based National Business Group on Health in August, which surveyed(2) 72 companies employing more than 3.7 million people. A recent survey by the Kaiser Family Foundation also revealed that while total premiums rose by 3% to an average of $13,770 in 2010 (including employer contributions), an average worker now pays nearly $4,000 per year for family coverage, up 14 percent from 2009 and up 47 percent overall from 2005.

However, more than 75 percent of the nearly $2 trillion healthcare costs impacting businesses and their employees today stem from chronic diseases like heart disease, diabetes and some forms of cancer. The good news is chronic diseases are largely preventable with healthy lifestyle choices -- getting enough physical activity, a healthy diet, and avoiding tobacco. "Presently, health insurance doesn't measure and reward people for exhibiting the right behaviors," said Forbes. "Safe drivers are routinely awarded discounts on their auto insurance for good behavior. Shouldn't employees who do a few simple things, such as exercise, watch their weight, stop smoking and adopt other healthy lifestyle habits, benefit as part of a culture that rewards the right behaviors?"

Washington may have caught on to this disconnect. The PPACA expands provisions in existing HIPAA regulations, which currently allow employers to offer incentives of up to 20 percent of annual premiums to employees who participate in employee health programs. The Affordable Care Act increases this differential to 30 percent in 2014, with an option to increase to 50 percent at the discretion of the Secretary of Health and Human Services. The policies and provisions exist. Now, more employers need to take steps to implement them in their organizations. Taking advantage of these provisions with a prevention-focused, technology-based employee health program lets employers improve employee health, gain mechanisms to measure and manage their healthcare cost-savings strategies, and tap into funding strategies to create cost-neutral programs.

"Effectively structured and implemented employee preventative health programs are proven to drive down healthcare costs by eliminating the pre-cursors of chronic conditions before they develop. And, they create healthier, happier, and more productive employees. But unless we shift our focus to a data-driven, actively managed approach to prevention, the PPACA that has so bitterly divided our country will risk being minimally effective, at best, or fail outright at the hands of unsustainable entitlement costs driven by preventable claims," said Forbes.

About Virgin HealthMiles
Virgin HealthMiles provides employee health programs that pay people to get active. The company's Pay-for-Prevention? approach, based on physical activity and healthy lifestyle change, attracts an average of 40 percent of employees who participate, which helps organizations reduce medical costs and improve employee productivity and satisfaction. The program is offered by employers, government entities, and insurers. Over 120 industry leaders representing more than 500,000 employees across the U.S., including American Diabetes Association, Intuit, MWV, OhioHealth, Ochsner Health System, Protective Life, SunGard, SunTrust, and Timberland have selected Virgin HealthMiles' award-winning program for their employees. The company is a member of Sir Richard Branson's Virgin Group. For more information, visit www.virginhealthmiles.com

(1) http://www.healthcare.gov/law/timeline/index.html
(2) http://www.businessgrouphealth.org/pdfs/Plan%20Design%20Survey%20Report%20Public.pdf

Add to Digg Bookmark with del.icio.us Add to Newsvine Media Contact:Kathy WilsonEmail Contact781-652-0499

View the original article here

Manulife eyes M&A to bulk up mutual fund business

TORONTO (Reuters) - Manulife Financial is eyeing acquisitions to bulk up its mutual fund business, although prospects for big takeovers in the insurance industry are slim due to regulatory uncertainty, the head of Manulife's Canadian business said on Thursday.

"We're making a conscious effort to grow in the (mutual fund) business ... so we'll look at potential acquisitions," Manulife Canada Chief Executive Paul Rooney said at the CIBC Institutional Investor conference in Montreal,

Manulife is Canada's largest insurance company, and like its Canadian peers, it also offers mutual-fund and other banking services.

The company owns the John Hancock brand in the United States, and is also trying to expand in Asia. Rooney said any takeovers in Canada would likely be small "tuck-in" acquisitions of assets smaller than Manulife's current mutual fund business.

Last year Manulife bought AIC Ltd's mutual fund business -- comprising C$3.8 billion ($3.7 billion) in assets under management -- for an undisclosed sum.

A more "transformational" takeover would only be likely if Manulife sees an attractive target in Asia that could fast-track growth there, Rooney said.. A takeover in the United States would be a "challenge".

However, a large move is unlikely in the immediate future, due to regulatory uncertainty, he said.

"In this uncertain accounting and capital environment, I think the prospects for a big one anywhere in the world by anyone are greatly diminished," he said.

Insurers have been nervous about the extent of new rules set to be handed down by the International Accounting Standards Board, which could alter the way insurers calculate income.

The company's shares were up 6 Canadian cents at C$12.85 on the Toronto Stock Exchange on Thursday afternoon.

($1=$1.03 Canadian)

(Reporting by Cameron French; editing by Peter Galloway)

View the original article here

AIG To Sell Japan Units To Pru For 5B

Prudential Financial is set to acquire two Japanese life-insurance companies from AIG for nearly $5 billion, The Wall Street Journal reports. The insurer will buy AIG Star Life Insurance and AIG Edison Life Insurance.

AIG will use the sale proceeds to pay off taxpayers, who are owed more than $90 billion from a government bailout. By the end of 2010, AIG will also sell its second-biggest overseas-based life-insurance unit, American Life Insurance Company, to MetLife for $15.5 billion.

Click here for the story fromThe Wall Street Journal.

Click here for additional coverage from Financial Times.

View the original article here

Willis Sets up Agri-Business Unit to Respond to Growing Insurance Needs of Crop and Forestry Sectors

Broker Appoints Julian Roberts as Executive Director

LONDON--(BUSINESS WIRE)-- Hughes-Gibb, the specialist bloodstock, livestock and aquaculture division of Willis Group Holdings (NYSE: WSH), the global insurance broker, today announced that it is expanding its services to clients in agri-business. Broadening its expertise to include Crop and Forestry, the wholesale broker has appointed Julian Roberts as leader of the new unit, effective immediately. Based in London, Roberts will report to Chris Williamson, Managing Director of Hughes-Gibb.

Agriculture is one of the largest primary production sectors globally and is the basis of the far-reaching and diverse industries of agri-business. These include amongst others the world’s vast food and beverage sectors but also pulp and paper, construction materials, renewable energy, pharmaceuticals and cosmetics.

Commenting on the establishment of the specialist agri-business unit, Williamson said, “The changing nature of modern agriculture – where innovation and development is essential to meet the parallel challenges of increasing food production and climate change – calls for the development of advanced risk management products and techniques. Julian’s impressive academic background in agriculture coupled with his practical experience of risk management for this sector, equips him to respond to the new demands of agri-business.”

Roberts graduated in Agriculture & Forestry at the University of Oxford and has a Masters in Agricultural Economics. His career has been exclusively focussed on the development of risk, insurance and related products such as Insurance-Linked Securities. Roberts founded the leading and innovative advisory business Agricultural Risk Management Limited whose clients included growers, their brokers, insurers and reinsurers.

Roberts added, “The world’s insurance and reinsurance markets have played an important role over the years in providing valuable risk protection – especially against the impact of adverse weather. Yet the penetration and scope of insurance products remains modest in comparison to the size and requirements of the overall agricultural sector. Our aim is to deliver innovative solutions to the rapidly evolving needs of agri-business.”

Hughes-Gibb was founded in 1959 as the first broker in London exclusively dedicated to bloodstock insurance, and has expanded to become the only truly global bloodstock, livestock and aquaculture broker. Hughes-Gibb is part of Willis Group’s third-party wholesale brokerage division Faber & Dumas, which includes Fine Art, Jewellery & Specie (FAJS), Global Special Risks (GSR), Maclean Oddy Associates, Special Contingency Risks (SCR) and Glencairn.

Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 17,000 employees serving clients in virtually every part of the world. Additional information on Willis may be found at www.willis.com.

Willis Group Holdings
Media:
Rebecca Nind, +44-203-124-8172
rebecca.nind@willis.com
or
Investors:
Kerry K. Calaiaro, +1-212-915-8084
kerry.calaiaro@willis.com

Source: Willis Group Holdings

View the original article here

Employment insurance recipients decline in July

The number of Canadians receiving employment insurance benefits fell to 672,200 in July — a drop of 31,400 from June's level, Statistics Canada said Thursday.

That takes the number receiving regular benefits back to levels seen in March.

Since the number of EI recipients peaked in June 2009, the number of regular EI beneficiaries has fallen by 157,100, the agency said.

But the recession that began in 2008 saw EI rolls jump by 329,000, meaning that the jobs recovery still has some distance to go to return to pre-recession levels.

The biggest declines in the number of EI recipients occurred in Quebec, Ontario, Alberta and New Brunswick. There were drops in every province except Newfoundland and Labrador, where there was an increase of less than 1,000.

While the declines suggest good news, Statistics Canada points out that a drop in claims can be due to a number of factors besides people heading back to work — including people exhausting their benefits.

The EI report also showed a rise in first-time and renewal claims for employment insurance. In July, 247,900 initial and renewal claims were received. That's up 6,200 from June's figure.

Statistics Canada said the number of such claims has been trending up since March — jumping by 17,700 in the March to July period.

The most recent labour force survey, which tracked the Canadian jobs picture in August, showed the unemployment rate rose slightly to 8.1 per cent last month, even though almost 36,000 more jobs were created.

Economists said that report suggested slower economic growth ahead.

EI premiums are set to rise in the new year, Finance Minister Jim Flaherty said two weeks ago, following a two-year freeze. Ottawa has yet to announce how high the increase will be.

Currently, EI premiums for employees are $1.73 per $100 of insurable earnings, to a maximum of $747 a year. The maximum EI benefit is currently $457 a week.

Earlier this month, Ottawa ended a program that granted an additional five weeks of benefits to all workers and up to 20 additional weeks for long-tenured workers.

Both measures were introduced last year in the face of surging unemployment levels, but the government said neither is needed now that the EI system is beginning to return to normalcy.

View the original article here

New York Looks to Reform Coastal Homeowners Insurance Market

September 23, 2010

New York insurance regulators are proposing a new set of consumer protection measures as part of a package of rules aimed at improving the availability and pricing of homeowners insurance in high-risk areas along the state's coast.

Among the proposals: prohibit insurers from applying a special deductible for wind damage unless a hurricane makes landfall, reduce the number of nonrenewals insurers are permitted and create a catastrophe pool to offset premium increases.

"Let's fix the roof before it starts raining," Insurance Superintendent James Wrynn said. "Coastal New York has been lucky for a while to escape a direct hit from a hurricane, but luck is no substitute for planning. Homeowners have already been pummeled by rising rates, nonrenewals and threats of nonrenewal of their homeowners insurance policies. Homeowners shouldn't have to worry about whether they will be able to get coverage when their policies expire. This uncertainty must be addressed. We have extensively reviewed our rules and regulations and we are planning for the storm we know is coming."

Wrynn has called a meeting of the Temporary Panel on Homeowners Insurance Coverage, a group that examines insurance and other issues facing coastal homeowners and some possible solutions. The group is scheduled to meet on Oct. 13 in Manhattan.

The panel will also look at state and local building codes, insurer preparedness for recovery and rebuilding after a catastrophe and public education about storm risks and mitigation techniques, Wrynn said.

Comments? Click here to post a comment about this article

View the original article here

Stormy weather forecast for the major insurers

On the heels of delivering a bumper full-year result, new David Jones CEO Paul Zahra says the company is well positioned to take advantage of Australia’s strengthening economy.

View the original article here

Penny Stocks To Trade Now - Sponsored Link

As a security measure to ensure our customers receive the highest quality traffic, we ask that you please type in the characters that you see on this picture in to the box below.

View the original article here

PACRA upholds Habib Insurance A+ rating

change_title('Error');You are trying to open a news article from our archive.
In order to read this article you need to login with your username and password.
If you are still not registered to ADP News, please click here.
Through subscription you will be able to use the whole funcitionality of our service..

View the original article here

Willis Sets up Agri-Business Unit to Respond to Growing Insurance Needs of Crop and Forestry Sectors

Broker Appoints Julian Roberts as Executive Director

LONDON--(BUSINESS WIRE)-- Hughes-Gibb, the specialist bloodstock, livestock and aquaculture division of Willis Group Holdings (NYSE: WSH), the global insurance broker, today announced that it is expanding its services to clients in agri-business. Broadening its expertise to include Crop and Forestry, the wholesale broker has appointed Julian Roberts as leader of the new unit, effective immediately. Based in London, Roberts will report to Chris Williamson, Managing Director of Hughes-Gibb.

Agriculture is one of the largest primary production sectors globally and is the basis of the far-reaching and diverse industries of agri-business. These include amongst others the world’s vast food and beverage sectors but also pulp and paper, construction materials, renewable energy, pharmaceuticals and cosmetics.

Commenting on the establishment of the specialist agri-business unit, Williamson said, “The changing nature of modern agriculture – where innovation and development is essential to meet the parallel challenges of increasing food production and climate change – calls for the development of advanced risk management products and techniques. Julian’s impressive academic background in agriculture coupled with his practical experience of risk management for this sector, equips him to respond to the new demands of agri-business.”

Roberts graduated in Agriculture & Forestry at the University of Oxford and has a Masters in Agricultural Economics. His career has been exclusively focussed on the development of risk, insurance and related products such as Insurance-Linked Securities. Roberts founded the leading and innovative advisory business Agricultural Risk Management Limited whose clients included growers, their brokers, insurers and reinsurers.

Roberts added, “The world’s insurance and reinsurance markets have played an important role over the years in providing valuable risk protection – especially against the impact of adverse weather. Yet the penetration and scope of insurance products remains modest in comparison to the size and requirements of the overall agricultural sector. Our aim is to deliver innovative solutions to the rapidly evolving needs of agri-business.”

Hughes-Gibb was founded in 1959 as the first broker in London exclusively dedicated to bloodstock insurance, and has expanded to become the only truly global bloodstock, livestock and aquaculture broker. Hughes-Gibb is part of Willis Group’s third-party wholesale brokerage division Faber & Dumas, which includes Fine Art, Jewellery & Specie (FAJS), Global Special Risks (GSR), Maclean Oddy Associates, Special Contingency Risks (SCR) and Glencairn.

Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 17,000 employees serving clients in virtually every part of the world. Additional information on Willis may be found at www.willis.com.

Willis Group Holdings
Media:
Rebecca Nind, +44-203-124-8172
rebecca.nind@willis.com
or
Investors:
Kerry K. Calaiaro, +1-212-915-8084
kerry.calaiaro@willis.com

Source: Willis Group Holdings

View the original article here

ArtFire Makes Health Insurance Available to Online Sellers

Artfire.com has partnered with the Craft and Hobby Association (CHA) to make CHA membership and health benefits available to ArtFire sellers. The CHA and ArtFire are now offering their joint members the chance to enroll in a variety of insurance programs offered through Association Health Programs.

eBay had attempted to offer its own health insurance benefits for its PowerSellers in 2002; Meg Whitman, CEO at the time, announced the program to great fanfare at an eBay Live conference, but the program never seriously materialized. By partnering with CHA, ArtFire is offering a program already in place.

CHA membership fees start at $150 depending on number of storefronts (or revenue for online sellers). ArtFire members receive a 20% discount on the first year of membership with the Craft & Hobby Association and can receive CHA benefits including health, life, dental and vision insurance, and access to industry trade shows, networking events, discount programs and industry market research.

ArtFire.com CEO John Jacobs said, "The Craft & Hobby Association is a strong advocate for creative entrepreneurs. These kinds of partnerships with organizations that truly care about and seek to assist artisans and crafters are critical to our mission of supporting our member artisans and sharing the beauty of art and crafts in our society."

Details about CHA membership and the special ArtFire discount are found on this page.

You may quote up to 200 words of any article on the condition that you attribute the article to AuctionBytes.com and either link to the original article or to www.AuctionBytes.com.
All other use is prohibited. Email this story to a friend.
| Next Story

Related StoriesArtFire Artisan Marketplace Surpasses One Million Unique Listings - January 19, 2010, Issue #2204
Handmade Marketplace Etsy and Artfire Launch Improvements - March 31, 2010, Issue #2255
ArtFire Surpasses $2 Million in Sales from Artisans - April 14, 2010, Issue #2265
Artfire Marketplace to Add Checkout by Amazon, Announces New Partnership - June 10, 2010, Issue #2306
Artfire Tweets Vintage, Adds New Look to Item Pages - June 17, 2010, Issue #2311
ArtFire Launches Certified Handmade Artisan Certificate - July 16, 2010, Issue #2327
ArtFire Members to Receive 10% Discount at Jo-Ann Stores - July 27, 2010, Issue #2334
ArtFire Rolls out Self-Curating 'Collection Engine' - August 09, 2010, Issue #2343
ArtFire Exiting Beta, Offers 'Group Deal' for Pro Merchant Plan - September 20, 2010, Issue #2373

View the original article here

Hannover Re contributes E1m to open-source earthquake model

Hannover Re contributes E1m to open-source earthquake model: InsuranceDay.com Advertising Advertising Informa Professional | an Informa Business About us | Contact us | Journalists | Events | Awards | Advertise Login or register: Login | Free email alerts | " id="trial" title="Free trial">Free trial Search Insuranceday.com Search All channels News International Reinsurance Legal & regulatory Liability & claims Financial management Companies People Global Markets » advanced search insuranceday.com In this website News International Reinsurance Legal & regulatory Liability & claims Finance Companies People Global Markets In this section UK| US & Canada| Bermuda| Europe| Emerging markets| Property| CAT| Life & pensions| Motor| Marine, aviation & aerospace| Other lines Site navigation News Article

Feed

September 23, 2010

Hannover Re contributes E1m to open-source earthquake model HANNOVER Re has said it will contribute E1m and its technical expertise towards the creation of the first global open-source earthquake risk model. The
The rest of this article is only available to Insuranceday subscribers Already an insuranceday.com subscriber? Username: Password: Email: Remember me Forgot your password?

Not a subscriber yet? Subscribe and start benefiting today! Sign up for a free trial Sign up now for our free email news alerts View Today's e-paper Request free trial Free supplements Advertising Latest insuranceday jobs Credit Controller Credit Controller - London - City - Undisclosed (23/09/2010)

Underwriting Business Analyst Underwriting Business Analyst - London - City - £40,001 - £50,000 (23/09/2010)

Household Underwriter - Birmingham Household Underwriter - Birmingham - UK - Regional - £20,000 - £30,000 (22/09/2010)

Group Management Accountant Group Management Accountant - London - City - £50,001 - £60,000 (21/09/2010)

International Data and Reporting Executive International Data and Reporting Executive - London - City - £40,001 - £50,000 (21/09/2010)

More jobs like this? Go to insurancedayjobs.com

Global Markets Advertising Advertising About us | Contact us | Journalists | Events | Awards | Advertise Terms & conditions | Privacy Policy Advertising

© 2010 - all rights reserved.
Informa Professional, an Informa Business

View the original article here

Anthem Blue Cross and Blue Shield Offering Free Health Screenings at The State Fair of Virginia

Anthem Blue Cross and Blue Shield Offering Free Health Screenings at The State Fair of Virginia
Thursday September 23, 11:35 am ET Former Redskin Charles Mann will be at Anthem activity zone Saturday, Sept. 25 from noon to 3 p.m. RICHMOND, Va., Sept. 23 /PRNewswire/ -- Each summer good food, animals, and music draw people from around Virginia to the state fair. This year, fair attendees can add the Anthem Blue Cross and Blue Shield activity zone and HealthFair bus to their to-do list on Sept. 25 and 26.  

Through its participation in the State Fair of Virginia, Anthem Blue Cross and Blue Shield is raising awareness on the importance of health and wellness by providing access to free health screenings. Onboard the Anthem Blue Cross and Blue Shield HealthFair Bus, visitors will receive a health evaluation consisting of a full lipid panel blood test; height, weight and waist measurements; blood pressure test; and Body Mass Index analysis.  Together the tests help provide a snapshot of one's personal health. The HealthFair screening bus is staffed by medical technicians and others who can help answer visitor questions.

Visitors are also encouraged to stop by the Anthem activity zone where they can calculate their Health Footprint(sm score). Knowing their Health Footprint score helps visitors determine the impact their behaviors have on their own health and the health of their social network.  Unlike a carbon footprint, which focuses on reduction, the bigger a Health Footprint score is, the more health influence someone has on those around them.

While in the Anthem activity zone, visitors can also take advantage of a variety of fun activities that families can do together including a basketball throw station, photo opportunities, an eight person ping pong table and Nintendo Wii video game stations to promote healthy, active lifestyles and even help them start to increase their Health Footprint score right away. 

Former Washington Redskin Defensive End Charles Mann will also be at the Anthem activity zone on Saturday, Sept. 25 from noon to 3 p.m. Mann is a two-time Super Bowl champion, four-time Pro Bowler and a former "Washingtonian of the Year."

WHAT:  HealthFair screening bus, Health Footprint calculator stations and fun, interactive activities for the whole family

WHEN: Sept. 25 and 26, 2010

Anthem Booth will be open from 9:30 a.m. – 9 p.m.

WHERE: State Fair of Virginia, Doswell, Virginia

About Anthem Blue Cross and Blue Shield in Virginia  

Anthem Blue Cross and Blue Shield is the trade name of Anthem Health Plans of Virginia, Inc. (serving Virginia excluding the city of Fairfax, the town of Vienna and the area east of State Route 123.). Anthem Blue Cross and Blue Shield and its affiliated HMOs, HealthKeepers, Inc., Peninsula Health Care, Inc. and Priority Health Care, Inc. are independent licensees of the Blue Cross and Blue Shield Association. (R)ANTHEM is a registered trademark of Anthem Insurance Companies, Inc. The Blue Cross and Blue Shield names and symbols are registered marks of the Blue Cross and Blue Shield Association. Additional information about Anthem Blue Cross and Blue Shield in Virginia is available at www.anthem.com.

View the original article here

Anthem Blue Cross and Blue Shield Offering Free Health Screenings at The State Fair of Virginia

Anthem Blue Cross and Blue Shield Offering Free Health Screenings at The State Fair of Virginia
Thursday September 23, 11:35 am ET Former Redskin Charles Mann will be at Anthem activity zone Saturday, Sept. 25 from noon to 3 p.m. RICHMOND, Va., Sept. 23 /PRNewswire/ -- Each summer good food, animals, and music draw people from around Virginia to the state fair. This year, fair attendees can add the Anthem Blue Cross and Blue Shield activity zone and HealthFair bus to their to-do list on Sept. 25 and 26.  

Through its participation in the State Fair of Virginia, Anthem Blue Cross and Blue Shield is raising awareness on the importance of health and wellness by providing access to free health screenings. Onboard the Anthem Blue Cross and Blue Shield HealthFair Bus, visitors will receive a health evaluation consisting of a full lipid panel blood test; height, weight and waist measurements; blood pressure test; and Body Mass Index analysis.  Together the tests help provide a snapshot of one's personal health. The HealthFair screening bus is staffed by medical technicians and others who can help answer visitor questions.

Visitors are also encouraged to stop by the Anthem activity zone where they can calculate their Health Footprint(sm score). Knowing their Health Footprint score helps visitors determine the impact their behaviors have on their own health and the health of their social network.  Unlike a carbon footprint, which focuses on reduction, the bigger a Health Footprint score is, the more health influence someone has on those around them.

While in the Anthem activity zone, visitors can also take advantage of a variety of fun activities that families can do together including a basketball throw station, photo opportunities, an eight person ping pong table and Nintendo Wii video game stations to promote healthy, active lifestyles and even help them start to increase their Health Footprint score right away. 

Former Washington Redskin Defensive End Charles Mann will also be at the Anthem activity zone on Saturday, Sept. 25 from noon to 3 p.m. Mann is a two-time Super Bowl champion, four-time Pro Bowler and a former "Washingtonian of the Year."

WHAT:  HealthFair screening bus, Health Footprint calculator stations and fun, interactive activities for the whole family

WHEN: Sept. 25 and 26, 2010

Anthem Booth will be open from 9:30 a.m. – 9 p.m.

WHERE: State Fair of Virginia, Doswell, Virginia

About Anthem Blue Cross and Blue Shield in Virginia  

Anthem Blue Cross and Blue Shield is the trade name of Anthem Health Plans of Virginia, Inc. (serving Virginia excluding the city of Fairfax, the town of Vienna and the area east of State Route 123.). Anthem Blue Cross and Blue Shield and its affiliated HMOs, HealthKeepers, Inc., Peninsula Health Care, Inc. and Priority Health Care, Inc. are independent licensees of the Blue Cross and Blue Shield Association. (R)ANTHEM is a registered trademark of Anthem Insurance Companies, Inc. The Blue Cross and Blue Shield names and symbols are registered marks of the Blue Cross and Blue Shield Association. Additional information about Anthem Blue Cross and Blue Shield in Virginia is available at www.anthem.com.

View the original article here

A.M. Best Assigns Debt Ratings to Manulife Financial Corporation?s Senior Notes

Welcome to the A.M. Best Web Site. To browse our site you will need a frames capable browser.

Please select one of the free download options below to get a frames capable browser.

Download Internet Explorer 4.0     Download Netscape's Latest Browser Software

View the original article here

Insurers Face Barrage Of Challenges In Overhaul's Rollout

The New York Times: "The first big wave of new rules under the federal health care law goes into effect on Thursday, leaving many insurers scrambling to get ahead of the changes. Insurers are cutting administrative staff to lower overhead costs, investing in big technology upgrades and training employees to field the expected influx of customer inquiries." And they're looking forward to even more significant changes on the horizon in a few years. A PricewaterhouseCoopers analyst said many plans may "struggle and fail" in the face of the burden. Top insurance lobbyist Karen Ignagni compared the industry's effort to the Manhattan Project as whole businesses reconfigure to comply with the law (Abelson, 9/22).

ABC News: In particular, "[t]he move by some health insurance companies to scrap child-only policies has many questioning whether providers will try to circumvent provisions of the new health care reform law in the future." Big insurers made the move because they would be prohibited from denying coverage to kids with pre-existing conditions, meaning they could buy insurance only when they become ill, and drop it afterwards. Ron Pollack, of Families USA, said, "There's a concern about how insurance companies are going to react to the wide variety of new requirements that they've got. … They're just going to try and elude those requirements in different ways." An industry spokesman said firms were making "difficult decisions" out of economic necessity (Kahn, 9/23).

The New York Times, in a separate story: One upcoming provision of great interest to insurers is a requirement that they spend at least 80 percent of premium revenues on medical care. In a meeting with White House officials Wednesday, state insurance regulators asked that those requirements by phased in gradually. "State officials said they feared that some companies would withdraw from the individual insurance market next year because they could not meet the 80 percent requirement." But, some Democrats at least view the provision as a key consumer protection and will resist anything that appears to be a watering-down. Some states are requesting waivers of the provision (Pear, 9/22).

CongressDaily: The state insurance commissioners warned the White House "that insurers in several states may not be able to meet the direct medical spending requirement set for next year in the healthcare overhaul law." Florida commissioner Kevin McCarty said, "Our concern in Florida, as we look at this implementation of the [medical loss ratio], is what the potential disruption to market may be. … To be thoughtful and realistic, you have to take into recognition that we can't put this all into place immediately, if our goal is to minimize disruption" (McCarthy, 9/23).

This is part of Kaiser Health News' Daily Report - a summary of health policy coverage from more than 300 news organizations. The full summary of the day's news can be found here and you can sign up for e-mail subscriptions to the Daily Report here. In addition, our staff of reporters and correspondents file original stories each day, which you can find on our home page.

View the original article here

Allianz France hails rebrand

Allianz France hails rebrand: InsuranceDay.com Advertising Advertising Informa Professional | an Informa Business About us | Contact us | Journalists | Events | Awards | Advertise Login or register: Login | Free email alerts | " id="trial" title="Free trial">Free trial Search Insuranceday.com Search All channels News International Reinsurance Legal & regulatory Liability & claims Financial management Companies People Global Markets » advanced search insuranceday.com In this website News International Reinsurance Legal & regulatory Liability & claims Finance Companies People Global Markets In this section UK| US & Canada| Bermuda| Europe| Emerging markets| Property| CAT| Life & pensions| Motor| Marine, aviation & aerospace| Other lines Site navigation News Article

Feed

September 23, 2010

Allianz France hails rebrand Allianz France says its name change has been successful, a year after it dropped the AGF brand to adopt its parent company’s name. The
The rest of this article is only available to Insuranceday subscribers Already an insuranceday.com subscriber? Username: Password: Email: Remember me Forgot your password?

Not a subscriber yet? Subscribe and start benefiting today! Sign up for a free trial Sign up now for our free email news alerts View Today's e-paper Request free trial Free supplements Advertising Latest insuranceday jobs Credit Controller Credit Controller - London - City - Undisclosed (23/09/2010)

Underwriting Business Analyst Underwriting Business Analyst - London - City - £40,001 - £50,000 (23/09/2010)

Household Underwriter - Birmingham Household Underwriter - Birmingham - UK - Regional - £20,000 - £30,000 (22/09/2010)

Group Management Accountant Group Management Accountant - London - City - £50,001 - £60,000 (21/09/2010)

International Data and Reporting Executive International Data and Reporting Executive - London - City - £40,001 - £50,000 (21/09/2010)

More jobs like this? Go to insurancedayjobs.com

Global Markets Advertising Advertising About us | Contact us | Journalists | Events | Awards | Advertise Terms & conditions | Privacy Policy Advertising

© 2010 - all rights reserved.
Informa Professional, an Informa Business

View the original article here

Willis Sets up Agri-Business Unit to Respond to Growing Insurance Needs of Crop and Forestry Sectors

Broker Appoints Julian Roberts as Executive Director

LONDON--(BUSINESS WIRE)-- Hughes-Gibb, the specialist bloodstock, livestock and aquaculture division of Willis Group Holdings (NYSE: WSH), the global insurance broker, today announced that it is expanding its services to clients in agri-business. Broadening its expertise to include Crop and Forestry, the wholesale broker has appointed Julian Roberts as leader of the new unit, effective immediately. Based in London, Roberts will report to Chris Williamson, Managing Director of Hughes-Gibb.

Agriculture is one of the largest primary production sectors globally and is the basis of the far-reaching and diverse industries of agri-business. These include amongst others the world’s vast food and beverage sectors but also pulp and paper, construction materials, renewable energy, pharmaceuticals and cosmetics.

Commenting on the establishment of the specialist agri-business unit, Williamson said, “The changing nature of modern agriculture – where innovation and development is essential to meet the parallel challenges of increasing food production and climate change – calls for the development of advanced risk management products and techniques. Julian’s impressive academic background in agriculture coupled with his practical experience of risk management for this sector, equips him to respond to the new demands of agri-business.”

Roberts graduated in Agriculture & Forestry at the University of Oxford and has a Masters in Agricultural Economics. His career has been exclusively focussed on the development of risk, insurance and related products such as Insurance-Linked Securities. Roberts founded the leading and innovative advisory business Agricultural Risk Management Limited whose clients included growers, their brokers, insurers and reinsurers.

Roberts added, “The world’s insurance and reinsurance markets have played an important role over the years in providing valuable risk protection – especially against the impact of adverse weather. Yet the penetration and scope of insurance products remains modest in comparison to the size and requirements of the overall agricultural sector. Our aim is to deliver innovative solutions to the rapidly evolving needs of agri-business.”

Hughes-Gibb was founded in 1959 as the first broker in London exclusively dedicated to bloodstock insurance, and has expanded to become the only truly global bloodstock, livestock and aquaculture broker. Hughes-Gibb is part of Willis Group’s third-party wholesale brokerage division Faber & Dumas, which includes Fine Art, Jewellery & Specie (FAJS), Global Special Risks (GSR), Maclean Oddy Associates, Special Contingency Risks (SCR) and Glencairn.

Willis Group Holdings plc is a leading global insurance broker. Through its subsidiaries, Willis develops and delivers professional insurance, reinsurance, risk management, financial and human resource consulting and actuarial services to corporations, public entities and institutions around the world. Willis has more than 400 offices in nearly 120 countries, with a global team of approximately 17,000 employees serving clients in virtually every part of the world. Additional information on Willis may be found at www.willis.com.

Willis Group Holdings
Media:
Rebecca Nind, +44-203-124-8172
rebecca.nind@willis.com
or
Investors:
Kerry K. Calaiaro, +1-212-915-8084
kerry.calaiaro@willis.com

Source: Willis Group Holdings

View the original article here

BestDay Audio Podcast for Sept. 23: Chartis? Lance Ewing Compares Insurance to Football?s Offensive Line

Welcome to the A.M. Best Web Site. To browse our site you will need a frames capable browser.

Please select one of the free download options below to get a frames capable browser.

Download Internet Explorer 4.0     Download Netscape's Latest Browser Software

View the original article here

Despite Affordable Care Act Provisions Kicking in on September 23, Insurance Alone Won't Make for a

Stronger Commitment to Prevention Needed, Employers Must Take Advantage of Employee Health Provisions in Act, Says Virgin HealthMiles

Today, Washington enacted six major provisions of the Patient Protection and Affordable Care Act (PPACA)(1) as the first step in rolling out the new healthcare reform legislation. Yet despite expanding coverage to millions of previously uninsured Americans, unless we tackle the root causes of preventable chronic disease, businesses and individuals will still be burdened by rising healthcare cost, says Virgin HealthMiles, a leading provider of incentives-based employee health and productivity programs.

"Our Federal government is attempting to force broader access to the current supply of health services, but not addressing what's driving dramatic increases in demand," said Sean Forbes, president of Virgin HealthMiles. "Why are we waiting for people to get sick and then managing the problem? Unmanaged, preventable healthcare costs are rising at more than 10 percent annually and represent one of the largest drains on corporate income statements. Today, no other similarly material business expense is treated in such a hands-off manner. We need to be proactive in our avoidance of future preventable claims costs. Preventing the onset of lifestyle-related disease is imperative to making this happen and getting people to take more responsibility for their health is an essential element of this strategy. Only then can we address the enormous weight of healthcare costs, and right-size our bloated healthcare costs in the United States of America."

Rising healthcare costs have expanded to now represent one of the top challenges to corporate profitability and are now threatening jobs and entire families' livelihoods. To help offset rising healthcare costs, 63 percent of businesses plan to make employees pay a higher percentage of their premium costs in 2011, said the Washington-based National Business Group on Health in August, which surveyed(2) 72 companies employing more than 3.7 million people. A recent survey by the Kaiser Family Foundation also revealed that while total premiums rose by 3% to an average of $13,770 in 2010 (including employer contributions), an average worker now pays nearly $4,000 per year for family coverage, up 14 percent from 2009 and up 47 percent overall from 2005.

However, more than 75 percent of the nearly $2 trillion healthcare costs impacting businesses and their employees today stem from chronic diseases like heart disease, diabetes and some forms of cancer. The good news is chronic diseases are largely preventable with healthy lifestyle choices -- getting enough physical activity, a healthy diet, and avoiding tobacco. "Presently, health insurance doesn't measure and reward people for exhibiting the right behaviors," said Forbes. "Safe drivers are routinely awarded discounts on their auto insurance for good behavior. Shouldn't employees who do a few simple things, such as exercise, watch their weight, stop smoking and adopt other healthy lifestyle habits, benefit as part of a culture that rewards the right behaviors?"

Washington may have caught on to this disconnect. The PPACA expands provisions in existing HIPAA regulations, which currently allow employers to offer incentives of up to 20 percent of annual premiums to employees who participate in employee health programs. The Affordable Care Act increases this differential to 30 percent in 2014, with an option to increase to 50 percent at the discretion of the Secretary of Health and Human Services. The policies and provisions exist. Now, more employers need to take steps to implement them in their organizations. Taking advantage of these provisions with a prevention-focused, technology-based employee health program lets employers improve employee health, gain mechanisms to measure and manage their healthcare cost-savings strategies, and tap into funding strategies to create cost-neutral programs.

"Effectively structured and implemented employee preventative health programs are proven to drive down healthcare costs by eliminating the pre-cursors of chronic conditions before they develop. And, they create healthier, happier, and more productive employees. But unless we shift our focus to a data-driven, actively managed approach to prevention, the PPACA that has so bitterly divided our country will risk being minimally effective, at best, or fail outright at the hands of unsustainable entitlement costs driven by preventable claims," said Forbes.

About Virgin HealthMiles
Virgin HealthMiles provides employee health programs that pay people to get active. The company's Pay-for-Prevention™ approach, based on physical activity and healthy lifestyle change, attracts an average of 40 percent of employees who participate, which helps organizations reduce medical costs and improve employee productivity and satisfaction. The program is offered by employers, government entities, and insurers. Over 120 industry leaders representing more than 500,000 employees across the U.S., including American Diabetes Association, Intuit, MWV, OhioHealth, Ochsner Health System, Protective Life, SunGard, SunTrust, and Timberland have selected Virgin HealthMiles' award-winning program for their employees. The company is a member of Sir Richard Branson's Virgin Group. For more information, visit www.virginhealthmiles.com

(1) http://www.healthcare.gov/law/timeline/index.html
(2) http://www.businessgrouphealth.org/pdfs/Plan%20Design%20Survey%20Report%20Public.pdf

Add to Digg Bookmark with del.icio.us Add to Newsvine

Copyright © 2008, InterestAlert

View the original article here

MetLife Unit Sells 135B In Debt

MetLife Institutional Funding II has raised $1.35 billion in a sale of notes, Reuters reports. The funding unit of MetLife sold the securities in two parts in the 144a private placement market.

The U.S. insurer sold $1 billion of one-year notes and $350 million of debt maturing in March 2012. MetLife appointed Deutsche Bank and UBS as the joint bookrunning managers for the sale.

Click here for the story from Reuters.

Click here for additional coverage from Bloomberg.

View the original article here

Anthem Blue Cross and Blue Shield Offering Free Health Screenings at The State Fair of Virginia

Anthem Blue Cross and Blue Shield Offering Free Health Screenings at The State Fair of Virginia
Thursday September 23, 11:35 am ET Former Redskin Charles Mann will be at Anthem activity zone Saturday, Sept. 25 from noon to 3 p.m. RICHMOND, Va., Sept. 23 /PRNewswire/ -- Each summer good food, animals, and music draw people from around Virginia to the state fair. This year, fair attendees can add the Anthem Blue Cross and Blue Shield activity zone and HealthFair bus to their to-do list on Sept. 25 and 26.  

Through its participation in the State Fair of Virginia, Anthem Blue Cross and Blue Shield is raising awareness on the importance of health and wellness by providing access to free health screenings. Onboard the Anthem Blue Cross and Blue Shield HealthFair Bus, visitors will receive a health evaluation consisting of a full lipid panel blood test; height, weight and waist measurements; blood pressure test; and Body Mass Index analysis.  Together the tests help provide a snapshot of one's personal health. The HealthFair screening bus is staffed by medical technicians and others who can help answer visitor questions.

Visitors are also encouraged to stop by the Anthem activity zone where they can calculate their Health Footprint(sm score). Knowing their Health Footprint score helps visitors determine the impact their behaviors have on their own health and the health of their social network.  Unlike a carbon footprint, which focuses on reduction, the bigger a Health Footprint score is, the more health influence someone has on those around them.

While in the Anthem activity zone, visitors can also take advantage of a variety of fun activities that families can do together including a basketball throw station, photo opportunities, an eight person ping pong table and Nintendo Wii video game stations to promote healthy, active lifestyles and even help them start to increase their Health Footprint score right away. 

Former Washington Redskin Defensive End Charles Mann will also be at the Anthem activity zone on Saturday, Sept. 25 from noon to 3 p.m. Mann is a two-time Super Bowl champion, four-time Pro Bowler and a former "Washingtonian of the Year."

WHAT:  HealthFair screening bus, Health Footprint calculator stations and fun, interactive activities for the whole family

WHEN: Sept. 25 and 26, 2010

Anthem Booth will be open from 9:30 a.m. – 9 p.m.

WHERE: State Fair of Virginia, Doswell, Virginia

About Anthem Blue Cross and Blue Shield in Virginia  

Anthem Blue Cross and Blue Shield is the trade name of Anthem Health Plans of Virginia, Inc. (serving Virginia excluding the city of Fairfax, the town of Vienna and the area east of State Route 123.). Anthem Blue Cross and Blue Shield and its affiliated HMOs, HealthKeepers, Inc., Peninsula Health Care, Inc. and Priority Health Care, Inc. are independent licensees of the Blue Cross and Blue Shield Association. (R)ANTHEM is a registered trademark of Anthem Insurance Companies, Inc. The Blue Cross and Blue Shield names and symbols are registered marks of the Blue Cross and Blue Shield Association. Additional information about Anthem Blue Cross and Blue Shield in Virginia is available at www.anthem.com.

View the original article here

ISO Developing Data on Driver Behavior for Use by Insurers

September 23, 2010

ISO's Applied Informatix unit is developing a data source for insurers that want to develop state-of-the-art underwriting and rating plans involving driving behavior or use analytics to differentiate their driving behavior programs.

According to Steven C. Craig, general manager of Applied Informatix, the new Driving Behavior Database for Modelers (DBDM) as the product will allow insurers to create their own telematics programs through the aggregation of telematics and insurance data.

"This groundbreaking program will define the relationship between losses, traditional policy information, and driving behavior," said Craig. "The risk information that will be uncovered will provide insurers with a platform for improving existing products and developing new ones."

ISO's Driving Behavior Database for Modelers will be created by collecting risk-level telematics data transmitted from insurers' covered vehicles and matching it with associated insurance data, including exposures, premiums, and losses.

As previously announced, ISO is equipping its own fleet with telematics devices and will include this data in the DBDM.

Companies can decide to receive only their own policyholder data, or they can join a group of companies choosing to anonymously share statistically selected samples of data so that each will have more information for modeling and other uses.

Comments? Click here to post a comment about this article

View the original article here

Anthem Blue Cross and Blue Shield Offering Free Health Screenings at The State Fair of Virginia

Anthem Blue Cross and Blue Shield Offering Free Health Screenings at The State Fair of Virginia
Thursday September 23, 11:35 am ET Former Redskin Charles Mann will be at Anthem activity zone Saturday, Sept. 25 from noon to 3 p.m. RICHMOND, Va., Sept. 23 /PRNewswire/ -- Each summer good food, animals, and music draw people from around Virginia to the state fair. This year, fair attendees can add the Anthem Blue Cross and Blue Shield activity zone and HealthFair bus to their to-do list on Sept. 25 and 26.  

Through its participation in the State Fair of Virginia, Anthem Blue Cross and Blue Shield is raising awareness on the importance of health and wellness by providing access to free health screenings. Onboard the Anthem Blue Cross and Blue Shield HealthFair Bus, visitors will receive a health evaluation consisting of a full lipid panel blood test; height, weight and waist measurements; blood pressure test; and Body Mass Index analysis.  Together the tests help provide a snapshot of one's personal health. The HealthFair screening bus is staffed by medical technicians and others who can help answer visitor questions.

Visitors are also encouraged to stop by the Anthem activity zone where they can calculate their Health Footprint(sm score). Knowing their Health Footprint score helps visitors determine the impact their behaviors have on their own health and the health of their social network.  Unlike a carbon footprint, which focuses on reduction, the bigger a Health Footprint score is, the more health influence someone has on those around them.

While in the Anthem activity zone, visitors can also take advantage of a variety of fun activities that families can do together including a basketball throw station, photo opportunities, an eight person ping pong table and Nintendo Wii video game stations to promote healthy, active lifestyles and even help them start to increase their Health Footprint score right away. 

Former Washington Redskin Defensive End Charles Mann will also be at the Anthem activity zone on Saturday, Sept. 25 from noon to 3 p.m. Mann is a two-time Super Bowl champion, four-time Pro Bowler and a former "Washingtonian of the Year."

WHAT:  HealthFair screening bus, Health Footprint calculator stations and fun, interactive activities for the whole family

WHEN: Sept. 25 and 26, 2010

Anthem Booth will be open from 9:30 a.m. – 9 p.m.

WHERE: State Fair of Virginia, Doswell, Virginia

About Anthem Blue Cross and Blue Shield in Virginia  

Anthem Blue Cross and Blue Shield is the trade name of Anthem Health Plans of Virginia, Inc. (serving Virginia excluding the city of Fairfax, the town of Vienna and the area east of State Route 123.). Anthem Blue Cross and Blue Shield and its affiliated HMOs, HealthKeepers, Inc., Peninsula Health Care, Inc. and Priority Health Care, Inc. are independent licensees of the Blue Cross and Blue Shield Association. (R)ANTHEM is a registered trademark of Anthem Insurance Companies, Inc. The Blue Cross and Blue Shield names and symbols are registered marks of the Blue Cross and Blue Shield Association. Additional information about Anthem Blue Cross and Blue Shield in Virginia is available at www.anthem.com.

View the original article here

Michigan Officials Seek to Force Broker to Remit $1.3M Owed to Insurers

September 23, 2010

Michigan insurance officials have gone to court to force a Troy insurance broker to remit $1.3 million in premiums he owes to multiple insurance companies.

The Office of Financial and Insurance Regulation (OFIR) has petitioned the Ingham County Circuit Court to compel Alternative Insurance Services (AIS) and its owner John Flaherty to abide by a payment plan.

Flaherty has previously agreed to pay restitution of $1,329,086 to 18 insurers and surplus lines general agents. He also agreed to submit a repayment schedule and quarterly reports to OFIR with a $100 per day fine if he failed to do so.

But state officials say he has not complied with any terms of the consent order.

In 2008, OFIR determined that Flaherty misappropriated more than $1.3 million in premium funds for his own personal use. OFIR revoked AIS' license and ordered the agency to cease in desist from the sale of insurance in Michigan.

"Not only did Mr. Flaherty misappropriate premiums, but he violated the consent order by failing to repay what he took," OFIR Commissioner Ken Ross said.

Flaherty has been accused of pocketing premiums paid to him by customers and several excess surplus lines agencies rather than turning those premiums over to the insurers on the accounts. Court records show AIG is owed more than $450,000 for various commercial and municipal accounts including ones for the cities of Inkster and Flint, the county of Macomb and the state's AFL-CIO.

Among the 18 insurers court records show Flaherty owes are Chubb, ACE, Axa, Berkley Specialty, Markel and Philadelphia.

Flaherty's firm web site and phone are not in operation.

Comments? Click here to post a comment about this article

View the original article here

Despite Affordable Care Act Provisions Kicking in on September 23, Insurance Alone Won't Make for a Healthier America

BOSTON, MA -- (MARKET WIRE) -- 09/23/10 -- Today, Washington enacted six major provisions of the Patient Protection and Affordable Care Act (PPACA)(1) as the first step in rolling out the new healthcare reform legislation. Yet despite expanding coverage to millions of previously uninsured Americans, unless we tackle the root causes of preventable chronic disease, businesses and individuals will still be burdened by rising healthcare cost, says Virgin HealthMiles, a leading provider of incentives-based employee health and productivity programs.

"Our Federal government is attempting to force broader access to the current supply of health services, but not addressing what's driving dramatic increases in demand," said Sean Forbes, president of Virgin HealthMiles. "Why are we waiting for people to get sick and then managing the problem? Unmanaged, preventable healthcare costs are rising at more than 10 percent annually and represent one of the largest drains on corporate income statements. Today, no other similarly material business expense is treated in such a hands-off manner. We need to be proactive in our avoidance of future preventable claims costs. Preventing the onset of lifestyle-related disease is imperative to making this happen and getting people to take more responsibility for their health is an essential element of this strategy. Only then can we address the enormous weight of healthcare costs, and right-size our bloated healthcare costs in the United States of America."

Rising healthcare costs have expanded to now represent one of the top challenges to corporate profitability and are now threatening jobs and entire families' livelihoods. To help offset rising healthcare costs, 63 percent of businesses plan to make employees pay a higher percentage of their premium costs in 2011, said the Washington-based National Business Group on Health in August, which surveyed(2) 72 companies employing more than 3.7 million people. A recent survey by the Kaiser Family Foundation also revealed that while total premiums rose by 3% to an average of $13,770 in 2010 (including employer contributions), an average worker now pays nearly $4,000 per year for family coverage, up 14 percent from 2009 and up 47 percent overall from 2005.

However, more than 75 percent of the nearly $2 trillion healthcare costs impacting businesses and their employees today stem from chronic diseases like heart disease, diabetes and some forms of cancer. The good news is chronic diseases are largely preventable with healthy lifestyle choices -- getting enough physical activity, a healthy diet, and avoiding tobacco. "Presently, health insurance doesn't measure and reward people for exhibiting the right behaviors," said Forbes. "Safe drivers are routinely awarded discounts on their auto insurance for good behavior. Shouldn't employees who do a few simple things, such as exercise, watch their weight, stop smoking and adopt other healthy lifestyle habits, benefit as part of a culture that rewards the right behaviors?"

Washington may have caught on to this disconnect. The PPACA expands provisions in existing HIPAA regulations, which currently allow employers to offer incentives of up to 20 percent of annual premiums to employees who participate in employee health programs. The Affordable Care Act increases this differential to 30 percent in 2014, with an option to increase to 50 percent at the discretion of the Secretary of Health and Human Services. The policies and provisions exist. Now, more employers need to take steps to implement them in their organizations. Taking advantage of these provisions with a prevention-focused, technology-based employee health program lets employers improve employee health, gain mechanisms to measure and manage their healthcare cost-savings strategies, and tap into funding strategies to create cost-neutral programs.

"Effectively structured and implemented employee preventative health programs are proven to drive down healthcare costs by eliminating the pre-cursors of chronic conditions before they develop. And, they create healthier, happier, and more productive employees. But unless we shift our focus to a data-driven, actively managed approach to prevention, the PPACA that has so bitterly divided our country will risk being minimally effective, at best, or fail outright at the hands of unsustainable entitlement costs driven by preventable claims," said Forbes.

About Virgin HealthMiles
Virgin HealthMiles provides employee health programs that pay people to get active. The company's Pay-for-Prevention? approach, based on physical activity and healthy lifestyle change, attracts an average of 40 percent of employees who participate, which helps organizations reduce medical costs and improve employee productivity and satisfaction. The program is offered by employers, government entities, and insurers. Over 120 industry leaders representing more than 500,000 employees across the U.S., including American Diabetes Association, Intuit, MWV, OhioHealth, Ochsner Health System, Protective Life, SunGard, SunTrust, and Timberland have selected Virgin HealthMiles' award-winning program for their employees. The company is a member of Sir Richard Branson's Virgin Group. For more information, visit www.virginhealthmiles.com

(1) http://www.healthcare.gov/law/timeline/index.html
(2) http://www.businessgrouphealth.org/pdfs/Plan%20Design%20Survey%20Report%20Public.pdf

Add to Digg Bookmark with del.icio.us Add to Newsvine Media Contact:Kathy WilsonEmail Contact781-652-0499

View the original article here

New EU capital rules to spur insurance M&A: study

LONDON, Sep 23 (Reuters) - Europe's new Solvency II capital regime for insurers will trigger a round of takeovers as weaker players are exposed and snapped up by better-capitalized peers, according to a study by Morgan Stanley and Oliver Wyman.

"The pace of strategic change will dramatically increase - with M&A as a key tool to achieve this," Morgan Stanley and Oliver Wyman said on Thursday.

Solvency II, scheduled to come into force across the European Union in 2013, aims to make insurers more financially resilient by matching capital reserves more closely to risks.

Some smaller players may struggle to comply with the new rules, forcing them to sell themselves to larger competitors, according to Morgan Stanley and Oliver Wyman.

Solvency II, which allows insurers with diverse businesses to hold lower levels of capital, will also put some monoline players under pressure to enter new markets through acquisitions, while others seek to sell capital-hungry units.

M&A activity is likely to pick up next year as insurers start positioning themselves for the formal introduction of Solvency II on January 1, 2013, Morgan Stanley and Oliver Wyman said.

There have been high-profile M&A attempts in the European insurance sector this year, with Prudential launching an abortive bid for U.S. giant AIG's Asian unit in March, and RSA making a 5 billion pound ($7.8 billion) approach for Aviva's general insurance operations last month.

British insurance-focused acquisition vehicle Resolution bought most of French insurer Axa's local business in June, and Netherlands-based Aegon is in the process of selling its U.S. life reinsurance unit.

Overall, Solvency II will impose the toughest capital requirements on non-life insurers, Morgan Stanley and Oliver Wyman said, although reinsurers were likely to benefit from increased demand for reinsurance as a risk mitigation tool.

($1 = 0.6386 pound)

(Reporting by Myles Neligan; Editing by Dan Lalor)

View the original article here

Treasure Hunt party game with Summer theme suitable for all ages

Established, successful ebook, now open to affiliates. Easy To Organise Party Games For The Whole Family / Church / Corporate / Celebration Etc. Longtail Keywords, Cross Sell And Upsell. More Info At www.TreasureHuntBook.com/affiliatehelp.htm

Check it out!

New Penny Design Enters Circulation

The U.S. Mint has officially released the new 2010 U.S. Cent during a ceremony at the Abraham Lincoln Presidential Library and Museum in Springfield, Illinois.? The 2010 Cent is noteworthy because it represents a change in reverse design for the venerable coin, which has borne the image of the Lincoln Memorial on it reverse ("tails" side) for 50 years.

In 2009, to celebrate the 100th anniversary of the Lincoln Cent, and the 200th anniversary of Lincoln's birth, the U.S. Cent had four different reverse designs, each issued about three months apart.? Starting this year, the penny reverse depicts the union shield.? The thirteen stripes represent the 13 colonies that formed the original Union.? The upper portion of the shield represents the Federal Government, which is supported by the unity of the States.

The new permanent Lincoln cent reverse was designed by United States Mint Artistic Infusion Program Associate Designer Lyndall Bass, and sculpted by United States Mint Sculptor-Engraver Joseph Menna.? The 2010 Cents have been released to the Federal Reserve System for distribution to banks, and should appear in circulation in coming weeks.

View the original article here