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SOFTWARE

CustomWeather Inc. has announced the release of its new hurricane software package. This new software package provides the capabilities to request historical hurricane data based on date ranges and bounding boxes for hurricanes, tropical cyclones and typhoons that have occurred anywhere around the world. The new package also features projected storm paths and wind-footprint information for current tropical systems across the globe for five days looking forward.

TECHNOLOGY

Mapping

CDS Business Mapping LLC, a specialist in online property risk mapping, has announced that it has added a new Flood Elevation report to its RiskMeter Online service. This report makes it possible to gain a better understanding of flood risk for policies that fall outside a flood zone. Users simply type in an address, and then gain the ability to get the following flood data: FEMA flood zone, distance to flood zone, estimated base flood elevation, elevation at a location, estimated height above a flood zone, estimated water depth in a flood zone and aerial photo (optional).

Analytics

Quality Planning Corp., the rating integrity solutions company, has introduced a new data analytics product, which allows users to uncover costly insurance premium rating anomalies. It works by comparing an insurer's rating information with thousands of independent data sources. Branded as Risk:select, the new product is designed with states in mind where mileage is not an important rating factor. It complements QPC's existing data analytics solutions, used by insurers to identify and recover lost auto insurance premium revenue.

Risk Management

ABD Insurance and Financial Services, a leading provider of global insurance, risk management and employee-benefits solutions, has announced new service levels and technological advancements for its interactive insurance, risk management and employee-benefits support tool, Cybersure.com. Its version 7.0 has been redesigned with improved navigation, enhanced search functionality and value-added content.

Disability Management

Disability RMS, one of the nation's leading provider of turnkey disability risk management products and services, has announced that it has filed a patent application with the U.S. Patent and Trademark Office. The patent is for its new group long-term disability funding solution, Premium Share. With Premium Share, Disability RMS can offer employers a way to control annual disability insurance premium costs, which enables employers to then offer the same level of disability coverage to employees year to year.

Compliance

Wolters Kluwer Financial Services has released its latest version of the NILS INSource product, which gives insurance compliance professionals a novel way to research complicated insurance regulatory requirements with the potential for increased accuracy and speed. The NILS INSource research tool delivers statutory and regulatory information through a Web interface, and includes powerful search tools that allow compliance professionals to find complete and current statutory and regulatory information for all 50 states, the federal government, the District of Columbia, the Virgin Islands and Puerto Rico. NILS INSource is available in a variety of subscription options, and covers property/casualty, life and health insurers.

INSURANCE

Hurricane

ICAT Specialty Insurance Co. has announced a new product, residential named hurricane insurance, for dwellings, apartments, town homes and condominiums in Hawaii. Written on an admitted basis, the new ICAT Specialty product provides coverage for policyholders with values up to $2.5 million. Deductible options are offered at 1 percent to 5 percent, and 10 percent to 15 percent. Dwellings and other structures are valued on a replacement-cost basis, with personal property coverage possibly endorsed to reflect this coverage enhancement. Substantial premium discounts are offered for properties equipped with windstorm protective devices such as hurricane connectors and hurricane storm shutters.

Identity Theft

West Bend Mutual, one of the top 50 insurers in the nation, has announced that it will now offer its policyholders identity theft resolution services should they fall victim to identity theft. Policyholders will also be given access to proactive education sources, which can help them better protect themselves against this prevalent crime. West Bend Mutual is partnering with Arizona-based company Identity Theft 911, a major provider of identity-theft resolution services and education, giving policyholders a range of services readily available at no additional cost.

September 1, 2006

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