Blue Cross and Blue Shield of Georgia Helps Businesses Navigate Health Care Changes with New Online Tools

/PRNewswire/ -- In an effort to help minimize confusion regarding implementation of health care reform provisions among business owners, Blue Cross and Blue Shield of Georgia (BCBSGa) has created two new tools to help business navigate the changes in health care, a grandfathering tool and a tax calculator tool.

Both tools are available at www.anthem.com/healthcarereform. The small business tax calculator tool and tax content were developed by The Tax Institute at H&R Block and also may be viewed by visiting www.thetaxinstitute.com.

The interactive grandfathering tool is designed to help businesses better understand what grandfathering means, if they qualify for it, and what options are available to them with regard to their health plan. BCBSGa has also joined forces with H&R Block to provide a convenient, comprehensive tool to help small business owners understand the financial impact, as well as the opportunities that accompany the changes in the health care system.

"The grandfathering tool is another part of our commitment to help make health care reform work," said Morgan Kendrick, President, BCBSGa. "This tool will allow business owners to understand what grandfathering means to them, what the qualification parameters are, and if it is potentially in their best interests to grandfather their current health plan. This tool can help businesses quickly and easily determine a course of action based on their current plan in an easy-to-use and easy-to-understand tool."

Kendrick added, "We are also extremely pleased to be partnering with H&R Block to make the small business tax calculator available, which can help small business owners understand the tax credits they are qualified for and allow them to better control and anticipate their health care costs. It's BCBSGa's hope that this resource will enable owners to focus on running a successful business and add some clarity as they navigate the health care system."

The small business tax calculator can help users understand the following reform provisions:

* The small business health care premium credit for qualified employers with 25 or fewer employees and average annual wages under $50,000 (2010)
* Requirements to provide employee coverage for full-time employees who work for businesses with 50 or more employees (2014)
* Employer penalties for not providing coverage when at least one full-time employee is enrolled in a subsidized health care plan (2014)
* The excise tax on high-cost health plans, which applies to plans that cost more than $10,200 for an individual and $27,500 for a family (2018).


"These tools will provide us with an easy way to navigate and communicate the financial impact that health care reform may have on our small business customers," said Jeff Fishback, President and CEO, Purchasing Alliance Solutions. "They will also help us to better communicate about grandfathering and if it might be in their best interest. For example, whether they should take advantage of the available credits and other provisions designed to improve the affordability of health care. I anticipate that interactive tools such as these will help small businesses save time and money. This is just one more example of why BCBSGa is the leader in the industry."

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Imperial Sugar Settles $345 Million Insurance Claim

(BUSINESS WIRE)--Imperial Sugar Company (NASDAQ:IPSU) announced that it settled the property insurance claim for the February 2008 industrial accident at its Port Wentworth, Georgia refinery for an aggregate of $345 million. The Company expects to recognize pre-tax gains of approximately $278 million in its first fiscal quarter ending December 31, 2009, as a result of the settlement. A final $45 million payment on the claim is expected to be received in early January. Previously the insurers had provided advance claim payments aggregating $300 million under the $350 million policy which provides for replacement cost coverage of physical property damage and business interruption coverage.

About Imperial Sugar

Imperial Sugar Company is one of the largest processors and marketers of refined sugar in the United States to food manufacturers, retail grocers and foodservice distributors. The Company markets products nationally under the Imperial®, Dixie Crystals® and Holly® brands. For more information about Imperial Sugar, visit www.imperialsugar.com.

Statements regarding future market prices and margins, refinery construction costs, timelines and operational dates, future expenses and liabilities arising from the Port Wentworth refinery incident, the timing of final insurance payments, future costs and liabilities arising from the Louisiana Sugar Refining LLC venture, future import and export levels, future government and legislative action, future operating results, future availability and cost of raw sugar, operating efficiencies, results of future investments and initiatives, future cost savings, future product innovations, future energy costs, our liquidity and ability to finance our operations and capital investment programs, future pension plan contributions and other statements that are not historical facts contained in this release are forward-looking statements that involve certain risks, uncertainties and assumptions. These risks, uncertainties and assumptions include, but are not limited to, market factors, farm and trade policy, unforeseen engineering and equipment delays, results of insurance negotiations, our ability to realize planned cost savings and other improvements, the available supply of sugar, energy costs, the effect of weather and economic conditions, results of actuarial assumptions, actual or threatened acts of terrorism or armed hostilities, legislative, administrative and judicial actions and other factors detailed in the Company’s filings with the Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated.

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Georgia Farm Bureau Joins NICB

/PRNewswire / -- The National Insurance Crime Bureau (NICB) announced today that the Georgia Farm Bureau is the newest addition to NICB's 1,000-plus member companies. They join existing NICB farm bureau members in Kentucky, Michigan, North Carolina, Texas and Virginia.

The Georgia Farm Bureau Insurance Companies, headquartered in Macon, Ga., include the Georgia Farm Bureau Mutual Insurance Company and the Georgia Farm Bureau Casualty Insurance Company. Both are dedicated to serving the more than 430,000 member families of the Farm Bureau in Georgia.

Founded in 1959, the Georgia Farm Bureau Mutual Insurance Company is celebrating its 50th year of service to its members. The company was started at a time when farmers and rural Georgians were having a difficult time finding insurance coverage.

The Georgia Farm Bureau Federation members decided to act and pooled their money to create a company which is now the state's largest domestic property-casualty insurance company. The company employs over 550 insurance agents and claims representatives located throughout the state to serve its members' needs.

Georgia Farm Bureau is a preferred risk writer of farm, home, auto and light commercial insurance.

"We're proud to add the Georgia Farm Bureau to our growing organization," said Joe Wehrle, NICB president and chief executive officer. "NICB continues to add new members as insurers recognize the value of NICB's services in vehicle theft and insurance fraud and show interest in our increased emphasis on medical fraud, cargo theft and heavy equipment theft. NICB member companies now write more than 81 percent of the nation's nearly $416 billion worth of property casualty insurance premiums."

About the National Insurance Crime Bureau: headquartered in Des Plaines, Ill., the NICB is the nation's leading not-for-profit organization exclusively dedicated to preventing, detecting and defeating insurance fraud and vehicle theft through information analysis, investigations, training, legislative advocacy and public awareness. The NICB is supported by more than 1,000 property and casualty insurance companies and self-insured organizations.

Anyone with information concerning vehicle theft and insurance fraud can report it anonymously by calling toll-free 1-800-TEL-NICB (1-800-835-6422) or by visiting our web site at www.nicb.org.

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Nurses Report Quality Health Benefits Key to Choosing an Employer

/PRNewswire/ -- As more hospitals ramp up efforts to attract and retain quality nursing staffs, a new survey(i) by insurance provider Aflac finds that 86 percent of nurses say a hospital's benefit package is one of the most important factors when determining where they choose to work, and more than half report they would switch jobs solely based on an employer's benefits.

In fact, three-quarters of the registered nurses surveyed say they would prefer to work for an employer that provides voluntary insurance policies, including insurance for short-term disability. Additionally, the vast majority of the randomly polled nurses (87 percent) believe that voluntary insurance is an important factor when evaluating a current or potential employer.

The survey findings come at a time when American hospitals are facing critical nursing shortages: The Journal of the American Medical Association(ii) has forecasted that by 2020, the number of registered nurses will fall short of demand by 20 percent.

"These findings underscore the positive response we've seen among employees with access to voluntary insurance," said Paul S. Amos II, president, Aflac; COO, U.S. Operations. "Not only can voluntary insurance help nurses manage their health care expenses, but it can also have a positive impact on hospitals' recruitment and retention efforts."

Other survey highlights include:

-- 66 percent of nurses say a voluntary insurance package would positively impact their decision to remain with an employer

-- 64 percent of nurses who currently have voluntary insurance policies are unwilling to go without them

-- 54 percent of nurses say that voluntary insurance would improve their benefits package

-- 89 percent of nurses believe that as health care costs rise in the coming years, voluntary insurance will become even more important

-- 47 percent would consider switching jobs if their new employer made voluntary insurance plans available

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Oxendine Revokes Life Company's License, Fines Insurer $214,000

Insurance Commissioner John W. Oxendine announced today that he has
revoked the certificate of authority of Trans World Assurance to operate in Georgia, and
has fined the company $214,000. In addition, the Commissioner has ordered the
company to refund monies collected from active duty members of the United States
Armed Forces related to products it has sold in Georgia since September 2007.

“Due to multiple violations of the state insurance code, I feel I have no option but
to revoke Trans World’s license to operate in the state,” Oxendine said. “What makes
these violations particularly egregious is that they targeted our men and women in
uniform.”

The Commissioner held a hearing May 5 and 6 of this year to investigate
allegations that the company sold a life insurance policy containing an illegal component
to military personnel between September 2007 and March 2008. The product, called
“Flexible Dollar Builder,” includes a provision known as an accumulation fund.

The Commissioner found that provisions of the accumulation fund violated Georgia’s
Military Sales Practices Regulation and the Unfair Trade Practices Act.

The company further violated regulations by selling life policies to service
members already covered under Service Members Group Life Insurance (SGLI) without
making the required assessment to determine whether the service member needed
additional life insurance.

Although the company may not sell new policies in Georgia, it must continue to
service existing contracts which were sold before September, 2007. The company must
also honor the contracts issued subsequent to September 1, 2007, until it has made the
refunds required by the order.

Blue Cross and Blue Shield of Georgia Introduces New Individual Products

PRNewswire/ -- Today, Blue Cross and Blue Shield of Georgia (BCBSGa) introduced two suites of PPO products called SmartSense and Premier that will provide Georgians with more affordable options for individual insurance.

The SmartSense plan is designed for consumers who are price conscious and want solid protection to cover the essentials. "Georgians who are seeking a health plan that offers affordability and provides coverage for routine services that can help them improve or maintain their health, now have another option, with premiums for SmartSense ranging from as little as $36.82 to $175.64 per month for a healthy 25-year-old male," said Monye Connolly, president of BCBSGa. The SmartSense plans provide coverage for up to three physician office visits a year before a member has to meet a deductible, some preventive benefits and a choice of prescription drug coverage options.

The Premier plan is designed for customers who want the security of a comprehensive benefit design with lower out of pocket costs. This plan is also a good choice for families with children, or those planning to have children. The Premier plan provides unlimited coverage for office visits before having to meet a deductible, provides preventive benefits, comprehensive prescription coverage and offers the ability to add maternity coverage.

SmartSense and Premier provide protection against expensive and unexpected medical bills. "These plans were designed for those consumers who recognize the importance of health coverage, but need flexibility when it comes to cost," said Connolly. "The plans offer a variety of deductibles that will help consumers find a premium they can afford."

"I would like to thank Blue Cross and Blue Shield of Georgia for providing these new and innovative products," said Georgia Insurance and Safety Fire Commissioner John W. Oxendine. "I applaud them for giving Georgians additional options when shopping for their health care needs."

SmartSense and Premier, which BCBSGa will begin offering on July 19, are targeted towards Georgians who work for companies that do not offer health care coverage, as well as early retirees and others who want a cost effective option.

Connolly says the availability of SmartSense and Premier will be appealing options for many Georgians who want more control over their health care choices and reflects the company's on-going commitment to reduce the percentage of Americans who are uninsured.

"Our goal is to offer a menu of plans that provide consumers with benefits that address a variety of life stages," said Connolly. "As we move forward, we will continue to focus on providing affordable plans that maintain the high quality and value-added benefits consumers have come to expect."

Members choosing SmartSense and Premier have access to more than 15,000 Georgia PPO network doctors and specialists and nearly 170 hospitals. These plans also provide coverage outside the state of Georgia through the Blue Card program.

In addition to SmartSense and Premier, BCBSGa also offers Tonik -- an individual product targeted toward Georgia's "young invincibles" -- individuals between the ages of 18 and 29. Since introducing the products in 2006, more than 8,000 Georgians are covered by Tonik.

For more information about SmartSense and Premier or other BCBSGa products, contact your authorized Blue Cross and Blue Shield of Georgia agent or call 1-800-896-2583, or visit us at www.BCBSGA.com .

BB&T Relocates Insurance Office to New Facility in Fayetteville

BB&T has relocated an insurance center to 350 Brandywine Blvd., Suite 200, Fayetteville. The office was previously located at 8455 Hwy. 85, Suite 100, Riverdale.

BB&T Reese Insurance, which is part of BB&T Insurance Services, is a full-service insurance center has been offering auto, home, life and business insurance to the community and regionally since 1974.

“We are excited to bring our products and services – and more importantly – the BB&T way of doing business to Fayetteville,” said Agency Manager Gary Laggis. “Our approach is to provide highly attentive, customized service for each client and their unique needs”

BB&T Reese Insurance will hold a ribbon-cutting for the new location on May 29.

BB&T Insurance Services is a wholly owned subsidiary of Branch Banking and Trust Company Founded in 1922. It operates 85 agencies in North Carolina, Virginia, Georgia, South Carolina, Maryland, West Virginia, Tennessee, Florida and Kentucky.

With $136.4 billion in assets, Winston-Salem, N.C.-based BB&T Corporation (NYSE: BBT) is the nation’s 14th largest financial holding company. It operates nearly 1,500 financial centers in 11 states and Washington, D.C. More information about the company is available at BBT.com.

Home Builders Association of Georgia Launches Fight to ''Take Back'' Builders Insurance

BUSINESS WIRE--The Home Builders Association of Georgia (HBAG), comprised of more than 13,000 builders statewide, issued an urgent call today to members who are policyholders/owners of Builders Insurance to “take back” the company and restore it to a fiscally conservative company that serves its policyholders/owners.

Because repeated requests for accountability and transparency have been ignored, HBAG today urged members to support action to amend the Business Insurance Charter to return power to owners/policyholders. Additionally, HBAG urged members to call a special meeting to elect a new board of directors committed to reducing exorbitant director fees, distributing profits fairly and establishing sound corporate governance measures.

HBAG reported that over the last five years Builders Insurance, which provides workers’ compensation and other insurance to builders across the state, has paid excessive salaries, fees and indirect compensation to its directors, reported at more than $1.9 million in 2006 and 2007 alone. HBAG believes that additional unreported payments in 2007 are likely. This is out of line with market compensation for similarly sized companies and as a percentage of revenue far exceeded directors' compensation at large public companies like United Parcel Service and Delta Air Lines during that time.

Moreover, since 2000, premiums have skyrocketed while dividends to policyholders/owners have plummeted from 13.6 percent of premiums to 1.5 percent.

Charlie Eison, president of HBAG, said, “At a time when our industry is fighting for survival in a tough economy, it’s outrageous that Builders Insurance’s board members have padded their pockets with exorbitant payments that rightfully belong to our members who are the policyholders and owners of this company. We need to take control and return Builders Insurance to its rightful mission of serving our members – not creating a financial jackpot for directors.”

Underscoring the need for accountability and transparency, HBAG reported that Builders Insurance has undertaken the following actions:

• stopped reporting a large portion of directors’ compensation in 2007;
• changed the bylaws to increase its control making it virtually impossible for owners/policyholders to remove a director or hold a special meeting;
• attempted to throw out HBAG and replace it with a shell association with little or no accountability to policyholders;
• Supported legislation without consent of the policyholders that would enable them to reorganize the company on terms financially favorable to the directors.

Ed Phillips, executive vice president of HBAG said, “Builders Insurance is not being properly managed and has no accountability or transparency. Feedback from our members shows strong support for taking back the company and cleaning house to protect policyholders’ interests.”

Since owners/policyholders share the liability of a captive mutual company, HBAG considers it paramount for owners/policyholders to control the company’s management.

Below is the reported compensation for Builders Insurance’s directors for 2006 and 2007. HBAG believes there might be more than has been reported.

Name			Directors Fees from 2006 to 2007 more than DOUBLED				Total Reported Compensation
			2006		2007		2006		2007(a)
Troy E. Barber			$35,000		$85,000		$167,748		UNREPORTED(a)
John C. Bowles			$35,000		$80,000		$173,156		UNREPORTED(a)
Frederick E. Fisher			$0		$0		$95,087		UNREPORTED(a)
Guilford E. Hill			$35,000		$75,000		$127,220		UNREPORTED(a)
Gerald A. Kopp			$35,000		$80,000		$198,130		UNREPORTED(a)
Allen M. Richardson			$35,000		$90,000		$190,880		UNREPORTED(a)
Michael F. Ryan			$35,000		$75,000		$186,655		UNREPORTED(a)
William L. Schwanebeck, Jr.			$35,000		$75,000		$186,655		UNREPORTED(a)
TOTAL			$245,000		$560,000		$1,325,531		UNREPORTED(a)

(a) Other than directors’ fees and some minimal additional compensation, the total 2007 compensation is unknown because Builders Insurance has ceased to report it.

Builders Insurance was started by HBAG in the early 1990s to provide affordable workers’ compensation and other types of insurance exclusively to its builder members and local builders associations across the state. As such, Builders Insurance is owned by policyholders, similar to a co-op or credit union.

NAR Says Terrorism Insurance Law Will Protect Commercial Market

RISMEDIA, Dec. 28, 2007–The commercial real estate market and the health of the nation’s economy as a whole will benefit from the reauthorization of the federal government’s terrorism risk insurance program, which President George W. Bush signed into law yesterday. The National Association of Realtors(R) has long advocated for passage of the Terrorism Risk Insurance Revision Extension Act to maintain a strong commercial market.

“As the leading advocate for real estate issues, NAR commends President Bush and Congress for enacting the federal terrorism insurance backstop,” said NAR President Richard Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif. “We especially thank Rep. Barney Frank (D-Mass.) and Sen. Christopher Dodd (D-Conn.), the chairmen of the House and Senate banking committees, for their leadership in guiding H.R. 2761 to passage. The potential unavailability of terrorism risk insurance would have had a devastating impact on many commercial financing agreements and could have negatively affected the commercial real estate market.”

The terrorism insurance program, initiated after the September 11, 2001, terrorist attacks, has helped stabilize the commercial real estate industry. The new law will extend the program for seven years, covers both foreign and domestic acts of terrorism, retains the “trigger level” at $100 million of damages at which point federal assistance kicks in, and establishes a blue ribbon commission tasked with recommending a long-term private market solution.

“TRIA reauthorization will strengthen the economic security of the commercial real estate market by reducing the uncertainty of terrorism coverage availability and by covering many forms of terrorist activity,” Gaylord said.

According to NAR, the best long-term solution should focus on what private markets have been unwilling or unable to do. “The ideal solution must allow businesses to purchase insurance for the most catastrophic conventional terrorism risks; provide adequate insurance capacity in all major commercial real estate markets, particularly in high-risk urban areas; and provide meaningful insurance against all types of terrorism risks,” said Gaylord. “We believe this law does much of that.”

Information about NAR is available at http://www.realtor.org.