BestWeek: Midterm Elections Have Trade Groups Eyeing Committee Changes.OLDWICK, N.J. -- With all 435 members of the House of Representatives up for re-election in November, and enough Senate seats in play to potentially switch control of that chamber to Democrats, insurance industry trade groups are bracing bracing, n a resistance to the horizontal components of masticatory force. for potential changes on key committees, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. an article in the June 12 BestWeek. Possibly the most closely watched is the Senate Banking Committee, which has oversight of most insurance and banking matters. It is the Senate's committee of jurisdiction for legislation seeking to enact an optional federal charter -- an effort that has, for some segments of the industry, been years in the making. "Optional federal charter is one of our main priorities," said Jack Dolan, a spokesman for the American Council of Life Insurers The American Council of Life Insurers (ACLI) is a Washington-based lobbying and trade group for the life insurance industry. ACLI represents 373 insurance companies that account for 93 percent of the U.S. life insurance industry's total assets. . Also included in the June 12 BestWeek is a two-page federal elections preview, looking at how the upcoming elections would impact key committees. Also in this week's BestWeek: --In the wake of the possible theft of millions of veterans' personal information, insurers are taking a closer look at ID theft coverage; and --Challenges arise when homeowners insurers are asked to cover exotic critters such as lions and snakes Snake 1 n. pl. Snake or Snakes See Shoshone. snake n. 1. . Also featured is Best's Insurance Composite Index Composite Index A grouping of equities, indexes or other factors combined in a standardized way, providing a useful statistical measure of overall market or sector performance over time. Also known simply as a "composite". , which finished the week of June 8, 2006, at 1,102.23, up 8.41% from a year ago. The composite index reflects the performance of 133 insurance stocks. The week's top performers were RenaissanceRe Holdings Ltd.; Atlantic American Corp.; Aspen aspen, in botany aspen: see willow. Aspen, city, United States Aspen (ăs`pən), city (1990 pop. 5,049), alt. 7,850 ft (2,390 m), seat of Pitkin co., S central Colo. Insurance Holdings Ltd.; Sierra Health Services health services Managed care The benefits covered under a health contract Inc.; and Montpelier Re Holdings Ltd. The week's bottom performers were Citizens Financial Corp.; Presidential Life Corp.; Bristol West Holdings Inc.; SeaBright Insurance Holdings Inc. and W.R. Berkley Corp. BestWeek is published by A.M. Best Co. for insurance professionals, including home office executives, agents and brokers. To subscribe to Verb 1. subscribe to - receive or obtain regularly; "We take the Times every day" subscribe, take buy, purchase - obtain by purchase; acquire by means of a financial transaction; "The family purchased a new car"; "The conglomerate acquired a new company"; BestWeek, please call A.M. Best's customer service department at (908) 439-2200, ext. 5742, or e-mail your request to customer_service@ambest.com. BestWeek is published by A.M. Best Co. for insurance professionals, including home office executives, agents and brokers. To subscribe to BestWeek, please call A.M. Best's customer service department at (908) 439-2200, ext. 5742, or e-mail your request to customer_service@ambest.com. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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