Business Insurance Lead

STAMFORD, Conn.--(BUSINESS WIRE)--April 2, 2007--Independence Holding Company (NYSE: IHC) today announced that it has closed on the previously announced acquisition of Actuarial Management Corporation ("AMC"). AMC is a leading, full-service actuarial firm headquartered in Concord, CA that focuses on fully insured health coverage for small groups, individuals and families, short-term medical and employer medical stop-loss. AMC is responsible for all actuarial aspects of IHC's entire book of fully insured health business, but will remain an independent business unit providing services and resources to clients outside the IHC Group of Companies. AMC's team of 19 professionals has extensive experience providing clients in the health insurance industry with development and management services, underwriting and benefit design review, data reporting, compliance support and strategic and tactical management services.

Triple-digit title loans banned in IA

Cash-strapped Iowans will soon have to turn elsewhere to get emergency loans because LoanMax will be forced out of business, its owner said Tuesday, by a new Iowa law that bans triple-digit interest rates on car title loans. Iowa lawmakers were jubilant Tuesday as Gov. Chet Culver signed into law House File 5, which reins in annual interest rates of 300 percent or more on such loans.

Right now, LoanMax can charge customers $251 to borrow $400 for about two and a half months. After July 1, the company will be able to charge only $33 for the same loan.

Thats not enough to keep the lights on and keep the employees and pay for their health insurance, said Rod Aycox, the owner of the Georgia-based LoanMax, which has 12 offices in Iowa.

But House Majority Leader Kevin McCarthy, a Democrat from Des Moines, said: Its a great day for Iowa and a victory for consumer protection.

Insurance Auto Auctions Announces Improved Fourth Quarter and Full ...

WESTCHESTER, Ill.--(BUSINESS WIRE)--Insurance Auto Auctions, Inc., a leading provider of automotive salvage and claims processing services in the United States, today announced financial results for the fourth quarter and full-year 2006. The Company's strong performance in 2006 was driven by successfully integrating acquisitions and greenfields along with increased buying activity as a result of the Company's live auctions combined with Internet bidding capability.

The Company recorded revenues for the quarter of $92.6 million, compared to $69.9 million in the fourth quarter of 2005, an increase of 32.5%. Fee income in the fourth quarter increased to $79.2 million versus $59.6 million in the fourth quarter of last year. The Company reported Consolidated EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) consistent with the definition in the Company's senior credit agreement of $15.8 million during the quarter compared to $10.1 million for the fourth quarter of 2005, an increase of 56.4%.

The Hanover Insurance Group Launches Connections(TM) Home in ...

WORCESTER, Mass., April 5 /PRNewswire-FirstCall/ -- The Hanover Insurance Group, Inc. (NYSE:THG) , a leading super regional property and casualty company, today announced the launch of a new homeowners insurance product, Connections(TM) Home, in Indiana and Wisconsin. This announcement follows the launch of Connections Home in Connecticut, Illinois, Maine, New York, Ohio and Tennessee, where the product has increased homeowners' quotes for The Hanover since its launch.

Connections Home makes it easier for agents to sell and retain more business by providing a total account solution, competitive coverage packages, enhanced premium choices, an expanded appetite and reliable, more convenient service.

Wells Fargo Insurance Services Opens Orlando Office

Wells Fargo Insurance Services announced today the opening of its first office in Orlando, Fla. The new Wells Fargo Insurance Services office is located at 801 International Parkway, Lake Mary, and offers both commercial and group health and benefits insurance services, as well as extensive experience with the health care industry. Shawn F. Smith has been appointed Senior Vice President and Managing Director for the Orlando Wells Fargo Insurance Services office. Joining Smith are Kim McGee, Vice President/Account Manager, and Kim Zastrow, Vice President/Senior Account Manager. Smith has more than 17 years of insurance experience and joins Wells Fargo Insurance Services from Marsh. While at Marsh, Smith assumed various business development roles and was the health care practice leader for Florida and sales leader for the company's Orlando and Tampa offices.

Supporting Small Business in Texas

OVERLAND PARK, Kan., March 26 /PRNewswire/ -- Small business owners in Texas now have access to world-class insurance protection from one of the world's leading providers -- Swiss Re. Swiss Re's Commercial Insurance today announced the introduction of its workers compensation coverage to the Lone Star state, delivered with the power of its exclusive CyberComp platform.

"We're proud to have the opportunity to support a vibrant and vast economy by providing smart solutions to the top small businesses in the state," said Jeff Argotsinger, CyberComp leader for Swiss Re's Commercial Insurance.

Health care reform debate can begin

California's Health Care system is in need of reform. Choices are limited, costs are too high, and too many are without insurance.

And while the reforms have probably been needed for quite some time, the issue has now captured the attention of the Governor and Legislative leaders, as several health care reform ideas have recently been presented forth as legislative proposals.

In the Capitol, various reform strategies have emerged. Some plans have been based on a universal coverage, government run health care system that would only serve to increase costs, limit choice, and reduce access has been put forth.

Other plans include mandates that increase taxes on small businesses to pay for health care.

An alternative reform package, presented by Assembly Republicans, relies on a series of 19 different health care reform proposals that will ensure that consumers can pick the type of health care coverage they want and need, will reduce health care costs for everyone, and increase access for those without insurance.

Medical malpractice insurer is bought out

Napa, Calif.-based Doctors Co., the nation's leading physician-owned medical malpractice insurance provider, announced Friday that it will acquire the malpractice insurance business of TriState Medical Insurance Co., a risk-retention group writing medical malpractice insurance in Southwest Ohio and Northern Kentucky. Terms of the deal, which will close Sunday, were not disclosed.

MASON - Deerfield Manufacturing, 320 Mason-Montgomery Road, has begun producing metal brackets for a Honda supplier for the automaker's Element and Acura MDX sport utility vehicles. Deerfield's parent, ICE Industries in Sylvania, Ohio, was picked by M-TEK Inc., a Manchester, Tenn., automotive supplier, to provide 13 different parts for various Honda and Nissan vehicles, taking over for a metal-stamping supplier that closed because of bankruptcy.

ISU Leader in Action Series begins with insurance and risk ...

Mark Henderson, executive vice president and chief operating officer of Lockton Companies LLC, will be Indiana State University's first Leader in Action Series presenter for insurance and risk management, on Tuesday and Wednesday. LIA events are sponsored by the College of Business' insurance and risk management program and the Gongaware Center. Henderson will make a presentation to students at 3:30 p.m. Tuesday as part of a capstone insurance and risk management course. This presentation, open to the general public, is in Room 105 of the College of Business.After his classroom presentation, he will participate in a reception, dinner and presentation with members of Gamma Iota Sigma (the ISU chapter of the national collegiate actuarial, insurance and risk management society) in ISU's Hulman Memorial Student Union.The LIA Series was created as a result of the insurance and risk management program and Gongaware Center's recent designation as one of only two Programs of National Distinction at ISU.