Compliance

ANNAPOLIS, Md. - A report issued by the Maryland Insurance Administration (MIA) on the use of credit-based insurance scoring found no basis for any conclusion that credit history is skewed toward ethnic minorities or low-income individuals.

Cedar Rapids, Iowa--Fiserv, Inc. has introduced eFreedom Investment Management powered by BasisPoint, a fully integrated portfolio management and investment accounting solution that supports each step of the trading process--from order processing through trade execution, accounting, international settlement support and regulatory reporting. As trading practices become increasingly complex and global, more and more organizations need the comprehensive multi-currency, multi-basis, investment accounting capabilities found in eFreedom Investment Management to track business activity and report to regulators.

Uniondale, NY--OnlineBenefits, Inc., provider of Internet-based HR solutions, announced today that it has entered into a long-term strategic partnership with Digital Insurance to distribute Benergy as an employee communication solution for its clients.

BELLEVUE, WA - SAFLINK Corporation, a leading developer, marketer and integrator of biometric security solutions, announced today that North Carolina-based A4 Health Systems has used SAFLINK's Software Development Kit (SDK) to design and deploy a solution in its efforts to meet new security requirements in Ohio that call for dual authentication of pharmaceutical orders within the hospital setting. The first phase of the solution is scheduled for deployment to more than 500 users at Mount Carmel East, West, and St. Ann's of Columbus, Ohio.

PHILADELPHIA-- CIGNA Corporation today reported net income for the fourth quarter of 2003 of $290 million, or $2.06 per share, compared with net income of $47 million, or $0.33 per share, for the same period last year.

WARREN, N.J.-- The Chubb Corporation today reported that net income in the fourth quarter of 2003 was $72.3 million or $0.38 per share, compared to net income of $56.6 million or $0.33 per share in the fourth quarter of 2002. Operating income, which the company defines as net income excluding after-tax realized investment gains and losses, was $73.1 million or $0.38 per share in the fourth quarter of 2003, compared to operating income of $83.7 million or $0.48 per share in the fourth quarter of 2002.

SACRAMENTO, Calif. -- InsWeb Corp. today announced results for the fourth quarter ended December 31, 2003. Revenues for the fourth quarter totaled $4.1 million, compared to $6.4 million in the fourth quarter of 2002. During the quarter, InsWeb recognized a gain of $6 million relating to the sale of its remaining investment in Finance All K.K., a Japanese corporation."

DxCG Inc., a provider of predictive modeling software for health care organizations, today announced a national agreement with the Blue Cross and Blue Shield Association (BCBSA) to provide RiskSmart to independent Blue Cross and Blue Shield companies.

GREENSBORO, N.C. - Jefferson Pilot Corporation, parent of the Jefferson Pilot Financial companies and one of the nation's leading providers of universal and variable universal life insurance and annuities, today reported results for the fourth quarter of 2003. Jefferson Pilot earned $1.01 per share before realized investment losses in the quarter, up 35 percent from fourth-quarter 2002 earnings of $0.75 before realized investment losses. Net income per share for the fourth quarter of 2003 increased 78 percent to $0.82, including net realized investment losses of $0.19 per share, versus net income per share of $0.46 in the fourth quarter of 2002, which included net realized investment losses of $0.29.

The life insurance industry plans a high profile on Capitol Hill this year in an effort to focus policymakers on its agenda, which includes an optional federal charter and a broader array of retirement products.The lobbying effort will include "fly-ins" by company CEOs and other high-level executives to speak to administration officials and key members, briefings and interview opportunities, and introduction of legislation supportive of industry interests. Also to be disclosed shortly is establishment of an "insurance caucus" by members of Congress with great interest in insurance issues.

As the insurance industry continues to focus broadly on growth, cost containment and risk management, new research has identified several strategic initiatives that might provide traction to insurers as they endeavor to improve their businesses.The final segment in a series of six "2004 Perspectives" formulated by Needham, Mass.-based research and consulting firm TowerGroup examines critical business and technology issues and trends that the firm expects will impact financial services.

Feb 02, 2004-- Salmon Ltd, the IT services and consulting firm, today announced the launch of its new underwriting solution. Unlike traditional underwriting solutions, Salmon's is fully Web-based and covers all the key elements of the insurance lifecycle with an integrated solution including claims, reinsurance and management information systems (MIS).

HARTFORD, Conn. -- Travelers Property Casualty Corp. announces that it will now provide Web-based ability to create and print Ocean Cargo Certificates of Insurance to its Ocean Cargo policyholders and their agents.

NEW YORK-- Association Health Plan (AHP) legislation proposed by President Bush to level the playing field for small employers seeking health insurance may instead cause significant disruption, according to a special report published by Fitch Ratings.

Valley Oak Systems, Inc. (VOS), a national provider of claims management software, services and support, has completed development of a new data extraction tool that will streamline the submission of claims data to the Public Entity Risk Institute (PERI), a non-profit organization that oversees the PERI Data Exchange, a national database of public sector liability and workers' compensation claims, judgments, and exposures.

ATLANTA-- 2004 may be a better year for the insurance and financial services industry, say members of the LOMA board of directors. LOMA's Resource magazine recently surveyed LOMA's directors, who represent global leaders in financial services, seeking their industry forecast for 2004. Most of the directors participating in the survey agreed that, with the U.S. economy showing signs of gradual recovery, things are looking up for industry sales, premiums, and profits.

NEW YORK--Directors and officers (D&O) liability insurance premiums increased approximately 33% on average from 2002 to 2003, according to the Tillinghast business of Towers Perrin's 2003 Directors & Officers Liability Survey.

Milwaukee, Wisconsin--COSS Development Corporation, a specialist in illustration and point of sale systems for the financial services industry, has released Journey 2004. Journey is COSS' premier needs-based financial modeling software. The new 2004 version, for both Web and desktop, is now being distributed to current users as an upgrade.

WASHINGTON, D.C.-- The American Council of Life Insurers (ACLI) applauds the National Association of Insurance and Financial Advisors (NAIFA) for strengthening its position on insurance regulatory reform.

New York, January 21, 2004 - Commercial insurance buyers say the cost of property insurance fell 8.8 percent in the fourth quarter of 2003 marking the first decline in premium prices in any major line of commercial insurance in nearly four years, according to the RIMS Benchmark Survey, an industry survey of market conditions released today.