Fidelity Investments and Extend Health, a Towers Watson company, formed an agreement to enhance Fidelity’s retirement guidance capabilities to include retiree health care. This agreement will simplify the transition process for millions of retiring Americans as they shift from employer-sponsored medical coverage to the individual Medicare market for health insurance.
Under the agreement, Fidelity and Extend Health, a private Medicare exchange, will provide retiring participants who are coming off company-sponsored health plan coverage access to resources and support to get coverage at a price they can afford.
Together the two companies will also assist plan sponsors transitioning from employer-sponsored retiree medical insurance as they communicate changes and help retirees select a private insurance option that best suits retirees’ unique needs. Fidelity will begin offering the service to its plan sponsor clients during the third quarter, in time for this year’s benefits enrollment season, which typically begins in the fall.
Fidelity is also expanding its capabilities to offer plan sponsors retiree medical account (RMA) support, including recordkeeping and reimbursement services, retiree workshops and meetings, and strategic communications expertise.
ExecRank selected Mark Supic, executive vice president, Corporate Communications at Primerica (NYSE:PRI), as a Top Communications Executive for 2012.
The rankings are the result of two years of research and feedback from evaluation committees and top chief communications officers that yielded an algorithm for how to rank communications executives based on their performance in 24 key areas.
For the complete rankings, please visit www.ExecRank.com.
Midland National Life Insurance Company introduced MNL IncomeVantage, an annuity product solution focused on retirement income.
The IncomeVantage is the first fixed index annuity from Midland National that offers a stacking roll up feature. Along with the potential growth of stock-market linked index accounts, this fixed indexed annuity has a built-in Guaranteed Lifetime Withdrawal Benefit (GLWB) feature which provides multiple growth opportunities through a combination of GLWB Bonus on premiums, a GLWB Stacking Roll-Up Credit, plus Interest Credits. This combination is designed to grow the GLWB value over the years to maximize the lifetime income payments available to clients.
CBIZ Special Risk Services Inc., a division of CBIZ Inc. (NYSE: CBZ), has rebranded as CBIZ Life Insurance Solutions Inc., a full-service brokerage general agency.
The firm continues to capitalize on market demand for specific solutions to address the changing landscape of tax, intergenerational wealth transfer planning, and business owner succession, exit and transition issues. What has emerged is an integrated agency uniquely designed to better serve a select group of industry leading insurance professionals.
Leading the charge is Morris “Buddy” Bunn, who was hired as the firm’s new chief underwriting officer. Prior to joining CBIZ, Bunn was senior vice president, Underwriting at Marsh Private Client Life Insurance Services. In his current role, Bunn will be responsible for directing the division’s underwriting and case management operations, which include its impaired and jumbo risk advocacy programs.
Bunn has 30 years in the life insurance industry, including more than 15 years building and leading independent distribution underwriting platforms. He is also an active member of the Brokerage Underwriting Forum Group and the Association of Advanced Life Underwriters (AALU).
The National Association for Female Executives (NAFE) named New York Life one of the “Top 50 Companies for Executive Women” for the fifth consecutive year as an organization that is committed to hiring, retaining and promoting executive women.
To be eligible, companies must have at least two women on their boards and at least 1,000 employees. In addition to assessing corporate programs and policies dedicated to advancing women, NAFE analyzed the number of women at the highest ranks and those with profit-and-loss responsibilities.
The ACORD Board of Directors re-elected John Leonard as the 2013 Chair. Lawrence (Larry) Blakeman, outside director, was also re-elected as the board’s vice-chair.
Leonard is president and CEO of Maine Employers’ Mutual Insurance Company (MEMIC) and MEMIC Indemnity Company. He began with MEMIC in 1993, the company’s first year, after a lengthy career with The Travelers, where he led the Commercial Lines Agency Marketing and Underwriting Division. He is a former president of the American Association of State Compensation Insurance Funds (AASCIF) and chairman of its Executive Committee. Leonard was the 2011 Board Chair for the National Council on Compensation Insurance (NCCI) and also served on its Nominating and Governance Committee. He also serves as a member of the National Workers’ Compensation Reinsurance Pool Board. Leonard is currently on the board of directors of MEMIC, MEMIC Indemnity Company and a is member of the board of directors of the National Association of Mutual Insurance Companies (NAMIC). He serves on the Board of the American Society of Workers’ Comp Professionals Inc. (AMCOMP), and was the 2008 recipient of the Legends Award conferred on him by this organization. Blakeman served as senior vice president and chief information officer in MetLife’s Information Technology Group supporting the recently formed U.S. Business organization. In 2007, he was appointed senior vice president and chief information officer of Individual Business IT where he led information technology and operations for MetLife’s Individual Business organizations. In 2008, he assumed the additional responsibility for the Auto & Home organization bringing together all IT support for the retail business under his leadership. In 2006, he took on responsibility for MetLife’s enterprise data management and enterprise architecture functions. Blakeman joined MetLife in 1996 as a vice president and client relations executive in the business services group, responsible for providing IT services and support to the financial management organization. In 1998, he took on responsibility for enterprise-wide financial systems, as well as responsibility for support of Institutional Business and Individual Business financial systems. He assumed additional responsibility for corporate actuarial systems and the enterprise reporting group in 2000.
In addition, ACORD added three new directors by membership election: Robert Humphreys, Lloyd’s of London; Paul Malchow, MetLife; and Christof Mascher, Allianz SE.
The following is a complete listing of the 2013 Board of Directors:
- Chair: John Leonard, MEMIC
- Vice-Chair: Lawrence Blakeman, Outside Director
- Gregory A. Maciag, ACORD
- Steve Betts, Aon Corporation
- Sal Branca, AIG
- Mark Esposito, The Hartford
- David Findley, Outside Director
- Andy Fogarty, Outside Director
- Robert Humphreys, Lloyd’s of London
- Al Iuppa, Zurich
- Art Jetter, National Association of Independent Life Brokerage Agencies (NAILBA)
- John Kellington, Cincinnati Financial
- Robert Kelly, Steadfast Group
- James Knight, Chubb & Son
- Barbara Koster, Prudential Financial
- Al Lagana, Travelers
- Frank Liu, China Life Insurance Company, Ltd.
- Dennis Mahoney, Outside Director
- Paul Malchow, MetLife
- Christoph Mascher, Allianz SE
- Samuel Medina, Willis Group Holdings
- William Pieroni, Marsh, Inc.
- Keith Savino, National Association of Professional Insurance Agents (PIA)
- Markus Schmid, Swiss Re
- Bob Slocum, Independent Insurance Agents & Brokers of America (IIABA)
- Achim Stegner, Munich Re