AnnualReportCopmpar06-07

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Volume 2, Issue 8 | February 2008 PRSRT STD U.S. Postage PAID Baltimore, MD Permit No. 7841 Required reading for successful insurance and financial service professionals Industry Leads // Property-Casualty Phila. lawyer, 14 others
indicted in 300 fake
slip-and-fall cases A personal injury lawyer and 14 alleged
runners were indicted by a Philadelphia
grand jury for their alleged role in more
than 300 fake slip-and-fall insurance
claims costing insurers more than $2.5
million over the last two decades,
according to prosecutors. Page 8 // Health Insurance Emerson Reid buys
BenefitPort MidAtlantic New York-based Emerson Reid, which
operates in Pennsylvania and New Jersey
bought BenefitPort MidAtlantic in a deal
likely to add about $6 million in revenue
to the companys coffers. Page 20 // Life Insurance NAIFA-PA signs online
pact for licensing The Pennsylvania chapter of the National
Association of Insurance and Financial
Advisors has cut a deal to allow its members
easier access to licensing services. Page 2 // Financial Services First boomers have
$257,800 net worth The first wave of baby boomers, those
turning 62 this year, have an average net
worth, excluding their home, of $257,800
and have not saved enough for their
future long-term care needs, according to
new research. Page 11 Affluent boomers
turn to advisors
for investing help 52% of high net-worth investors want
assistance with managing their finances By Bob Graham More than half of the regions high net-worth baby boomers rely on a pro-
fessional advisor to manage their in-
vestments, a new study finds About 52% of high net-worth indi- viduals turning 62 this year who live in
the Northeast, an area that includes
Pennsylvania, New Jersey and
Delaware, turn to a professional advi-
sor for assistance with their invest-
ments, according to new research. Bell
Investment Advisors, an Oakland,
Calif.-based wealth management firm,
has surveyed the new class of baby
boomers for the last Ario plans IBC
merger hearings Commissioner expects to rule on IBC-
Highmark merger plan by end of year Acting Pennsylvania Insurance Com- missioner Joel Ario
plans to hold public
hearings, possibly next summer, as part
of his review of the
proposed consolida-
tion of Independ-
ence Blue Cross and
Highmark Inc. The announce- ment of hearings, Pa. governor ties Mcare abatement, health coverage By Molly Greeley Gov. Edward G. Rendell announced recently that he believes Pennsylvania
can work out a plan to cover the
nearly 800,000 uninsured in the state
through his Cover all Pennsylvanians
health insurance program. Rendell also said he thought it pos- sible to extend the Mcare abatement
program for another 10 years. The governor has directed Penn- sylvanias insurance commissioner
to proceed with Your source for the latest Local industry
news, as well as New Products, Sales
Advice, Videos and national insurance and
financial service news updated daily. CALENDAR 17 CAPITOL HILL 18 COMPANIES 23 DEALS 9 LEGAL BRIEFS 16 LIFE/FINANCIAL 11 PEOPLE 12 NEW PRODUCTS 6 RECORD/FINES 22, 23 Departments See Merger on p19 See Plan on p21 See Advice on p17 Fight to get it right
important to clients Handling of a clients claim is crucial to
success of agent, a new study suggests. See story on page 14. Pa. homeowners rates
continue to increase NAIC: Neighboring states
see bigger premium hikes By Todd Karpovich The average premiums for home- owners policies in Pennsylvania were
cheaper than some of the surrounding
states, but still are on the rise, according to research by the National Association
of Insurance Commissioners. The NAIC report found that the aver- age premium paid in the Pennsylvania
was $624 in 2005, a 5.2% increase from
the previous year. Meanwhile, homeowners in Delaware paid $498, a 6.7% increase from the
prior year, and $682 in See Homeowners on p14 DATED MATERIAL Please deliver by January 30 Insurance & Financial Advisor Monthly
10600 York Rd. Suite 203, Hunt Valley, MD 21030 Change Service Requested Source: eHealth 50% were certain what they paid for their monthly health insurance premium 45% were sure of their annual deductibles 23% were very sure of what the terminology used in their health insurance policy actually means 36% couldnt define HMO, 20% didnt know what a PPO is 11% couldn't explain what an HSA is Baffled buyers Consumers dont understand their own
health insurance coverage. Joel Ario Southeastern Pennsylvania New Jersey Delaware 2 | Southeastern Pennsylvania / New Jersey / Delaware Insurance & Financial Advisor | IFA webnews.com February 2008 For commercial and personal insurance, Iroquois Mid-Atlantic, may provide the solution to your needs. Why consider joining Iroquois? Heres what you will get: Direct access to additional carriers like The Hartford Lower volume commitments Competitive commission rates Profit sharing opportunities Discounts on products and services Access to large commerical products and specialty markets As an Iroquois Member Agent you wont get: Initiation fees Interference with current direct contracts Restrictions on using outside markets A loss of equity in your agency More than 1,500 independent agents in 35 states have discovered the benefits of Iroquois membership. For more information, contact Matt Ward at 804-320-6984 or email him at mward@iroquoisgroup.com. You may also visit our website at www.iroqma.com. Creating Productive Agency-Carrier Relationships for over 25 Years. The IROQUOIS Group The IROQUOIS Group Something to think about.

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