Headline News: Home & Auto

PR Newswire — June 29, 2009
HARRISBURG, Pa., June 29 /PRNewswire-USNewswire/ — Governor Edward G.
Rendell today asked President Barack Obama to authorize federal disaster aid that will help families and businesses in Allegheny and Westmoreland counties recover from a series of devastating storms that moved through the region earlier this month.

The Governor made his request after declaring a disaster in the two counties today.

In his letter to President Obama, Governor Rendell asserted that the magnitude of the damage is beyond the response capabilities of the state and affected local governments and that supplementary federal assistance is necessary. If approved, the disaster aid will enable state, county and municipal governments to respond to the damage and help families and businesses recover and rebuild their lives.

“The severe damage from these prolonged, torrential rains affected countless homeowners and businesses,” said Governor Rendell. “The Commonwealth of Pennsylvania is doing everything possible to help these individuals and communities recover, but we need the federal government’s help, as well.”

The Governor’s disaster proclamation, which is the official declaration document, authorizes state agencies to use all available resources and personnel, as necessary, to deal with this emergency. The time-consuming bid and contract procedures normally prescribed by law are waived for the duration of the proclamation.

A preliminary damage assessment was conducted in the two counties prior to the Governor submitting the letter requesting federal disaster relief. Governor Rendell’s letter emphasizes that the storm’s estimated costs are expected to grow as assessments continue and repairs and restorations begin.

The state’s Emergency Operations Center in Harrisburg was activated to coordinate response to support the areas affected by the storm systems.
The Pennsylvania Emergency Management Agency has maintained communications and continues to work with the affected counties, state, federal and local agencies and non-governmental entities involved in this disaster.

For a high resolution photo of the Governor signing the disaster declaration, visit http://www.pa.gov/portal/server.pt/gateway/PTARGS_0_2_72471_3065_551869_43/http%3B/pubcontent.state.pa.us/publishedcontent/publish/cop_general_government_operations/governor_site/governor_more_information/images/rendell_signs_disaster_dec.jpg

More information on disaster assistance in Pennsylvania is available at www.pema.state.pa.us; click on “Disaster Assistance and Updates” in the left-hand column.

EDITOR’S NOTE: The text of the Governor’s request letter to the President follows:

June 29, 2009

The Honorable Barack Obama

President of the United States

The White House

1600 Pennsylvania Avenue, NW

Washington, DC 20500

Through:

Mr. Jonathan Sarubbi

Regional Administrator

FEMA Region III

615 Chestnut Street

Philadelphia, PA 19106

Dear Mr. President:

Under the provisions of Section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, 42 U.S.C. sections 5121-5206 (”Stafford Act”) and implemented by Title 44 CFR section 206.36, I request that you declare a major disaster for the Commonwealth of Pennsylvania, due to a series of storms that began on May 28, 2009 and are continuing, which caused the National Weather Service in Pittsburgh, Pennsylvania to receive numerous reports of damaging hail, downed power lines and trees, wind damage, severe thunderstorms, funnel and wall clouds, and flash flooding. As a result of these storms that swept across Pennsylvania during that time period many reports of flooding, soil saturation, and mud slides were received by the National Weather Service and county and municipal emergency management agencies.
On June 29, 2009, I issued a disaster proclamation for Allegheny and Westmoreland counties.

The Pennsylvania Emergency Management Agency (PEMA) has been monitoring storm developments through periodic updates from the National Weather Service, damage estimates provided to the State Emergency Operations Center by counties, media reports, and reports submitted by the staff located in the PEMA Area offices. This information has been reviewed and substantiated by the staff of the U.S. Small Business Administration, Federal Emergency Management Agency Region III, and the Bureau of Recovery and Mitigation at PEMA.

The period starting May 1 through June 30, 2009, has been listed by the National Weather Service as the fifth wettest season on record and, combined with the topography and geological formations of the Commonwealth, resulted in severe flash flooding in the communities of:
Churchill, Forest Hills, Monroeville, North Versailles, Pitcarin, Pittsburgh, Shaler, Turtle Creek, White Oak, Wilkins Township, Wilkinsburg, Moon Township, Edgewood, and North Braddock in Allegheny County. The municipalities of Export, Greensburg, Hempfield, Jeannette, Manor, Murraysville, North Huntingdon, Penn Borough, Penn Township, Youngwood, Youngstown, Derry, Irwin, Mt. Pleasant, and Unity in Westmoreland County were also affected. I am continuing to receive reports from municipal and county emergency management agencies regarding the effects of this ongoing weather pattern.

The most severe impact of these storms occurred on June 16 and 17 in Allegheny and Westmoreland counties. Reference Enclosure F.

In Allegheny County, urban streets were inundated by flash flooding, vehicles were moved end-over-end, and dumpsters were washed away and crashed into building foundations. The water velocity broke a flood gauge located atop a 13-foot wall on Nine Mile Run where waters topped the wall and moved jersey barriers on the roadway. The storm caused the Thompson Run stream gauge to go from .59 feet to 11.34 feet in a four hour period.

This occurred in one of Allegheny County’s most devastated communities where 55% of the occupants are residents of dwellings with basements that contained washers, dryers, furnaces, electrical boxes, and numerous personal items.

The majority of the Westmoreland County flooding also occurred in urban settings. In addition to many damaged vehicles, there was a significant loss to personal property and structure damage reported.

The June 16-17 event followed a series of storms that began on May 28, 2009, in which homes, businesses, hospitals, and infrastructure sustained damages in York, Chester, Montgomery, and Bucks counties.
Although damage amounts did not meet disaster threshold criteria, the traumatic impact on lives, interruption and loss to businesses, the impact on health care, and damages to municipal and state infrastructure was significant. This devastation placed additional burdens on family and governmental budgets.

In response to the situation, I took appropriate action on June 16, 2009, and directed the execution of the State Emergency Operations Plan and instructed various state agencies to respond to and assist the counties to help their impacted citizens.

On June 17, residents and business owners started calling their local emergency management agencies to report the devastation received to their homes and businesses in Allegheny and Westmoreland counties.

All facets of life in these communities were impacted by the storms as homes and businesses were damaged and destroyed. The affected areas are low income and have a significant number of elderly. Many of the impacted homes received up to 7.5 feet of storm water in their homes during the June 16-17, 2009 event, demonstrating a significant impact from this storm on furnaces, electrical systems and the loss of personal belongings. Much of the damages sustained are either not insured or are underinsured. The extent of additional damages from mold and mildew and related health issues will be a major concern as these storms continue to converge on the area.

In Allegheny County, there were three shelters opened serving more than 60 persons. There are 52 persons housed in hotels. The American Red Cross delivered more than 700 clean-up kits to affected areas and processed casework for 18 families (60 people) who were displaced and unable to return to their homes.

The following services were provided:

    –  Allegheny County Health and Human Services reported caring for
        approximately 30 special needs individuals.
    –  Allegheny County opened a Disaster Service Center that was in
        operation from June 22-25.
    –  The Salvation Army reports expenses of approximately $275,000
        on the June 16-17 response, an amount that exhausted all of the
        organization’s funds. These funds were used to provide direct
        assistance in the form of gift cards from Giant Eagle Food
        stores and Walmart.
    –  The Salvation Army opened a service center in Turtle Creek
        where assistance was provided to nearly 700 families, 1,000
        clean-up kits were distributed and 3,000 meals were served.
    –  The local mental health organization provided crisis
        counseling; the Aging Office provided assistance to senior
        adults with unmet needs; and American Red Cross provided
        interim hotel accommodations.
    –  The volunteer organizations have generously responded to
        community needs to the point of exhausting all available
        resources.

The communities impacted by the storm are generally blue-collar, working class communities who have experienced the pain of economic downsizing. The largest community in the impacted counties is the City of Pittsburgh in Allegheny County, which is listed as a distressed community under Pennsylvania’s Financially Distressed Municipalities Act. This indicates a municipality is in dire fiscal straights.

In Allegheny County, 16.9% of the population is over the age of 65, 80% of the inhabitants of the destroyed, major and minor damaged properties are low income, with only 1% having flood insurance coverage. The unemployment rate in Allegheny County is in excess of six-percent. In Westmoreland County, 78% of the inhabitants of the destroyed, major and minor damaged properties are low income, with only 18.75% having flood insurance; the unemployment rate is in excess of eight-percent.

In Westmoreland County, four shelters were opened serving 92 persons.
Two hospitals were impacted by the storm. Excela Health Westmoreland in the City of Greensburg and Excela Health Jeannette in the City of Jeannette both sustained flood damages that were cleaned by hospital staff without the need for evacuations or patient transfers. A third hospital reported caring for approximately six special needs individuals. In addition, response efforts were provided by Red Cross, the Salvation Army, 117 fire departments, and multiple volunteer faith-based groups.

The unemployment rate in Westmoreland County exceeds eight percent and the economy was further eroded by the storm when a local company, OMNOVA, was forced to layoff 150 employees as a result of the flooding.
The company has reportedly sustained approximately $1,000,000 in uninsured losses. A second major employer, DURABOND, reported approximately $1,000,000 of potentially uninsured loss in addition to another $250,000 in damages to the Turtle Creek Railroad operated by the industry as part of its manufacturing process. Scott Electric reported approximately $250,000 in losses when flood waters ravished their wire warehouse. There was also a carpet business employing 30 individuals that closed because of storm damages. These industrial losses have a domino impact on the economy and tax base at all levels of government.

The emotional and economic impact on survivors is presenting the need for additional crisis counseling services in the flood areas.

There were additional losses sustained by the Pennsylvania Department of Transportation in the June 16-17 storm event in Allegheny, Westmoreland, and Somerset counties. These losses must be incurred by the Commonwealth during a time of decreased revenues and a challenging effort to maintain a balanced budget as required by law. As a result, monies earmarked for other critical infrastructure projects will need to be diverted to cover these emergency expenses.

On June 23, 2009, I requested a joint federal, state, and local survey of the damaged structures in Allegheny and Westmoreland counties. These preliminary assessments were conducted on June 25 and 26.

I have determined that this incident is of such severity and magnitude that effective response is beyond the capabilities of the Commonwealth and the affected local governments and that supplementary federal assistance is necessary. I am specifically requesting Individual Assistance including the Individuals and Household Program (IHP); Other Needs Assistance (ONA); Disaster Unemployment Assistance (DUA); Disaster Legal Assistance (DLA); Crisis Counseling; U.S. Small Business Administration (SBA) Disaster Loans; and associated programs to assist the victims of Allegheny and Westmoreland counties and for Hazard Mitigation statewide. I reserve the right to request additional counties to be included in this disaster in the event that additional damages are reported from the storm and also to seek a Public Assistance declaration should damage reports indicate the need.

Preliminary estimates of the types and amount of assistance needed under the Stafford Act are tabulated in Enclosure A. Estimated requirements for assistance from certain federal agencies under other statutory authorities are tabulated in Enclosure C. State agency activities in response to the storms are outlined in Enclosure E.

Our State General Assembly and Congressional delegations are deeply concerned over the tremendous negative economic impact on those residing within these already economically depressed areas and have pledged their support to seek any and all available federal assistance.

The following information is furnished on the nature and amount of State and local resources that have been or will be used to alleviate the conditions of this disaster:

    –  Commonwealth and local service providers will be required to
        address the personal and emotional hardships of victims and
        their families, which is compounded by the fact that many will
        not have the financial resources available to them because of
        the inability to secure loans and funding to repair or rebuild
        their homes and lives. Financial hardships related to the
        disruption to businesses and industries and the cost to
        municipal budgets in a challenging economic environment is
        proving to be overwhelming.
    –  State resources have been, and will continue to be, committed
        to assist local governments in response to the devastation
        experienced by individuals and the business and industrial
        communities. A major disaster declaration would provide
        assistance to restore health and safety, financial recovery,
        and normalcy to all residents and municipalities of the
        impacted area.
    –  Numerous municipal disaster declarations were made by elected
        officials as local Emergency Operations Centers were mobilized
        in the two county areas. On June 16-17, Allegheny County had
        three times the normal call volume in the 9-1-1 center from
        individuals seeking assistance from police, fire, and Emergency
        Medical Service units. On June 17 alone, in a six-hour period
        from 6:00 p.m. until midnight, there were 887 calls for
        assistance due to flooding answered by 125 individual fire
        departments.

The Commonwealth of Pennsylvania has a FEMA approved Hazard Mitigation Plan.

I certify that, for this major disaster, the state and local governments will assume all applicable non-federal shares of costs required by the Stafford Act. Total expenditures are expected to exceed $3,000,000.

I have designated Robert P. French, Director of the Pennsylvania Emergency Management Agency, as the Commonwealth Coordinating Officer for this request. He will work with the Federal Emergency Management Agency in damage assessments and may provide further information or justification on my behalf.

Sincerely,

Edward G. Rendell

Governor

Enclosures
    CONTACT: Maria A. Finn (PEMA)
             717-651-2009
             Michael Smith
             717-783-1116

SOURCE Pennsylvania Office of the Governor

PR Newswire — June 29, 2009
POWAY, Calif., June 29 /PRNewswire-FirstCall/ — First Advantage
Corporation(Nasdaq: FADV) (the “Company”), a global risk mitigation and business solutions provider, today confirmed that it has received an unsolicited proposal from The First American Corporation (”First
American”) to acquire all of the issued andoutstanding shares of the Company’s common stock not owned by First American at a fixed exchange ratio of 0.5375of a share of First American common stock for each share of the Company’s common stock.

According to First American, the proposed exchange ratio represents an offer price of $14.04 per share of the Company’s common stock and a
10.2 percent premium to the Company’s stock price, based on the closing prices of the common stock of the Company and First American on June 26, 2009. First American’s proposal is subject to confirmatory due diligence, the negotiation of a mutually acceptable definitive acquisition agreement and the receipt of all necessary stockholder and regulatory approvals. According to First American, First American indirectly owns approximately 74 percent of the Company’s common stock and controls approximately 98 percent of the voting power of the Company.

First American’s proposal is under consideration by the Special Committee of the Board of Directors of the Company, which is comprised of directors who are unaffiliated with First American. The Special Committee is being assisted in its consideration of First American’s proposal by its legal advisor, Dewey & LeBoeuf LLP, and is currently in the process of selecting a financial advisor.

About First Advantage Corporation

First Advantage Corporation (NASDAQ: FADV) combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of consumer credit information in the mortgage, automotive and specialty finance markets; business credit information in the transportation industry; lead generation services; motor vehicle record reports; employment background verifications; occupational health services; applicant tracking systems; recruiting solutions; skills and behavioral assessments; business tax consulting services; computer forensics; electronic discovery; data recovery; due diligence reporting; resident screening; property management software and renters insurance. First Advantage ranks among the top companies in all of its major business lines. First Advantage is headquartered in Poway, Calif., and has offices throughout the United States and abroad. More information about First Advantage can be found at www.FADV.com.

First Advantage is a majority-owned subsidiary of The First American Corporation (NYSE: FAF), a FORTUNE 500(R) company that traces its history to 1889. First American is America’s largest provider of business information, supplying businesses and consumers with valuable information products to support the major economic events of people’s lives. Additional information about the First American Family of Companies can be found at www.firstam.com.

Contacts:
Henri Van Parys
Corporate Communications Manager
727.214.1072
henri.vanparys@FADV.com

Cindy Williams
Director - Investor Relations
727.214.3438
cindy.williams@FADV.com

SOURCE First Advantage Corporation

PR Newswire — June 26, 2009
WASHINGTON,June 26 /PRNewswire-USNewswire/ — Insurance policyholders whose legitimate insurance claims were low-balled, delayed or denied by their insurance companies testified before the D.C. Council yesterday in support of legislation that would allow consumers to hold their insurer accountable in court.

Consumer Watchdog joined policyholders, advocacy organizations and attorneys for insurance consumers to call on the committee on Public Services and Consumer Affairs to forward legislation swiftly to the full council.

Under current District law, individual consumers cannot take their insurer to court for failing to fairly pay a claim. The lack of legal accountability gives insurance companies a financial incentive to make unfairly low settlement offers, and intentionally delay or deny legitimate claims, because they can only be required to pay policyholders the original value of the claim.

“I have to pay my premium on time and in full and my insurer should have the same responsibility. Instead, District law lets insurance companies off the hook for unfairly low-balling claims, dragging their feet on payment, or denying a legitimate claim altogether. The law must change to protect consumers from those insurers who otherwise may be more focused on profits than policyholders,” said Carmen Balber, Washington, D.C. director for the nonprofit Consumer Watchdog.

Washington, D.C. auto insurance premiums were the highest in the nation in 2007. The District was the 2nd-most profitable jurisdiction in the nation (second only to Hawaii), with average profits of 14.9% between
1997 and 2006. (See the April 2008 study by the Consumer Federation of
America:

http://www.consumerfed.org/pdfs/state_auto_insurance_report.pdf)

“As policymakers whose job it is to protect District consumers, you can be secure in the knowledge that insurers are making high enough profits and collecting enough in premiums from District drivers to have plenty of room to pay claims more fairly without an increase in premiums,”
Balber testified on Thursday.

Consumer Watchdog has studied the effects of consumer access to the courts on auto insurance claim settlements and frequency. A 1988 court ruling in California changed that state’s law and provided a unique opportunity to study the impact on claims payment of consumers’ access to the courts before and after that right was eliminated. The study examined automobile insurance claim trends over the 10-year period following the change in law and concluded that, during the period after motorists lost recourse to the courts, claim settlements were significantly reduced in value and in frequency, and profits for insurers increased.

Download Consumer Watchdog’s letter to the Committee here:
http://www.consumerwatchdog.org/resources/LtrDCBadFaith6-3-09.pdf

Download the study, “The Low-Balling of the California Auto Insurance Claim,” at: http://www.consumerwatchdog.org/documents/1743.pdf

Consumer Watchdog is a nonprofit, nonpartisan advocacy organization with offices in Washington, D.C. and Los Angeles, CA. Find us on the web at: http://www.consumerwatchdog.org

SOURCE Consumer Watchdog

PR Newswire — June 25, 2009
‘Cash for Clunkers’ Program Retail Sales Impact Projected to be Limited

WESTLAKE VILLAGE, Calif., June 25 /PRNewswire/ — New-vehicle retail sales through the first 17 selling days of June have increased notably from May, indicating tempered but continued recovery in the market, according to J.D. Power and Associates, which gathers real-time transaction data from more than 10,000 dealerships across the United States.

(Logo: http://www.newscom.com/cgi-bin/prnh/20050527/LAF028LOGO-a)

New-vehicle retail sales for the month of June are expected to come in at 789,400 units, which represent a seasonally adjusted annualized rate
(SAAR) of 9.2 million units. This is down by 9 percent from one year ago, but up by 14 percent compared with May 2009.

While retail sales for June have improved from May, fleet sales have declined. As a result, the June SAAR for total vehicle sales remains stable from one month ago.
    J.D. Power and Associates U.S. Sales and SAAR Comparisons - June 2009

                       June 2009(1)        May 2009            June 2008
    New-vehicle
     retail sales    789,400 units       788,547 units       931,491 units
                    (19% lower than
                       June 2008)
    Total vehicle
     sales           914,400 units       924,064 units      1,186,619 units
                    (26% lower than
                       June 2008)
    Retail SAAR    9.2 million units   8.1 million units   10.1 million units
    Total SAAR    10.3 million units   9.8 million units   13.6 million units

    (1)Figures cited for June 2009 are forecasted numbers based on the first
       17 selling days of the month.

“Consumer confidence is improving, and market uncertainty is starting to decline, which has made consumers more willing to take advantage of deals on new vehicles,” said Gary Dilts, senior vice president of global automotive operations at J.D. Power and Associates. “In addition, sales incentives–including those from Chrysler dealers facing closure–have helped contribute to the upswing.”

In light of these signs of market recovery and the expected introduction of a “Cash for Clunkers” program, J.D. Power and Associates is holding its forecasts for 2009 steady at 8.3 million for retail sales and 10.0 million units for total sales. A more favorable environment in the second half of 2009 could result due to continued sales momentum, improved economic fundamentals and a stronger than expected response to the Cash for Clunkers program.

The Cash for Clunkers program would provide financial incentives to encourage owners of older vehicles to upgrade to newer, fuel-efficient ones. While the program theoretically could increase retail sales by as much as 500,000 units on an annualized basis, J.D. Power and Associates forecasts that actual sales increases would be considerably lower due to funding limitations and the duration of the program. The stipulations of the three-to-four-month long Cash for Clunkers program–which are based on fuel economy improvements and vehicle age balanced with trade-in value–are restrictive and potentially confusing to consumers, thus limiting its potential.

“It remains to be seen if the passage of Cash for Clunkers program will be enough to draw consumers to showrooms and spark sales, but we remain skeptical,” said Jeff Schuster, executive director of global forecasting at J.D. Power and Associates.

Recovery in the automotive market could also be hampered by instability and insolvency among vehicle suppliers, according to J.D. Power and Associates. Vehicle production is forecasted to be as low as 8 million units for 2009. Levels this low have not been seen since the 1980s. For many suppliers, viability is unsustainable at these levels. With several tier-one suppliers in or approaching bankruptcy, failure of these large suppliers would create a ripple effect among smaller suppliers. In turn, this could cripple vehicle manufacturers’ ability to replenish vehicle inventory and hamper prospects for any near-term recovery.

About J.D. Power and Associates

Headquartered in Westlake Village, Calif., J.D. Power and Associates is a global marketing information services company operating in key business sectors including market research, forecasting, performance improvement, Web intelligence and customer satisfaction. The company’s quality and satisfaction measurements are based on responses from millions of consumers annually. For more information on car reviews and ratings, car insurance, health insurance, cell phone ratings, and more, please visit JDPower.com. J.D. Power and Associates is a business unit of The McGraw-Hill Companies.

About The McGraw-Hill Companies

Founded in 1888, The McGraw-Hill Companies (NYSE: MHP) is a leading global information services provider meeting worldwide needs in the financial services, education and business information markets through leading brands such as Standard & Poor’s, McGraw-Hill Education, BusinessWeek and J.D. Power and Associates. The Corporation has more than 280 offices in 40 countries. Sales in 2008 were $6.4 billion.
Additional information is available at http://www.mcgraw-hill.com.

J.D. Power and Associates Media Relations Contacts:

John Tews; Troy, Mich.; (248) 312-4119; media.relations@jdpa.com

Syvetril Perryman; Westlake Village, Calif.; (805) 418-8103; media.relations@jdpa.com

No advertising or other promotional use can be made of the information in this release without the express prior written consent of J.D. Power and Associates. www.jdpower.com/corporate

Available Topic Expert(s): For information on the listed expert(s), click appropriate link.

GARY DILTS

https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=58125

JEFF SCHUSTER

https://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=58129

SOURCE J.D. Power and Associates

WESTWOOD, Mass., June 24 /PRNewswire-FirstCall/ — In today’s tough economy, owners of cars, trucks, motorcycles and heavy equipment need to do everything possible to protect their vehicles from today’s clever, professional thieves- particularly during the summer months when vehicle theft rates are at their highest and when many families are on the road enjoying summer vacations. To help keep vehicles safe, LoJack Corporation (Nasdaq: LOJN) and the National Insurance Crime Bureau (NICB) are embarking on their third annual education initiative, which includes naming July as “National Vehicle Theft Protection Month,” and providing valuable theft protection information to vehicle owners.

(Logo: http://www.newscom.com/cgi-bin/prnh/20080512/NEM054LOGO )

LoJack and NICB are offering the following resources as part of this education initiative:

    –  New Audio Podcast:In LoJack and NICB’s latest educational
        podcast (http://bit.ly/4raiEx), a victim of vehicle theft
        details how his 2000 Honda Civic was stolen, taken to Mexico
        and later recovered. Vehicle theft experts from LoJack and NICB
        also discuss who is behind vehicle theft, where it most
        commonly takes place, and what you can do to prevent vehicle
        theft from happening to you.
    –  New Twitter Page:LoJack and NICB’s Vehicle Theft Protection
        Twitter page - http://twitter.com/TheftProtection - is designed
        to help drivers better understand how to protect their cars,
        trucks and motorcycles from theft. The Twitter page will be
        updated throughout the month of July with daily theft
        prevention tips, statistics, links to news articles and
        resources, and more.
    –  Downloadable Booklet:”Get in the Know” - http://bit.ly/kZt94 -
        is an educational booklet co-produced by LoJack and NICB that
        details the steps owners can take to protect their vehicles
        from theft.

“In today’s challenging economy, many people are keeping their vehicles longer, which is creating a brisk business for thieves who steal popular cars, trucks, motorcycles and heavy equipment, strip them down and sell off the parts,” said D.J. Thompson, Law Enforcement Director for LoJack and theft prevention expert. “Since July and August are the highest vehicle theft months of the year and a time when so many families are enjoying summer drive vacations, it’s more important than ever that people understand how to keep their vehicles safe from theft.
Thieves know just how and when to strike and that is when your vehicle is most vulnerable. That’s why LoJack and NICB team up on this important education initiative.”

What Can Consumers Do to Keep Their Vehicles Safe?

By combining common sense approaches, theft prevention and immobilization devices and tracking/recovery systems, consumers can protect their vehicles from theft.

The first important step: Use Common Sense Measures. Never leave keys in the vehicle with the engine running. Don’t hide a spare key in the vehicle. Close all windows and lock all doors when leaving your vehicle. Park in a well-lit area and, when at home, keep your vehicle in the garage. Don’t leave valuables visible in your car, particularly those items that include information on your identity — thieves can drive off not only with your car, but your identity as well.

The second step: Use Theft Prevention Products. A thief is less inclined to steal your vehicle if it has visible and audible warning devices like a wheel lock or alarm system.

The third step: Use Immobilization Devices.Immobilizers–which include smart keys, kill switches and fuel cut-off devices–offer another means of protection and make it that much more difficult for a thief to steal your vehicle.

The fourth step:Use a Tracking and Recovery System. Since thieves can typically disarm most theft prevention devices, recovery systems provide the peace of mind that you’ll get your car back — often quickly — in the event it is stolen. The most effective systems are directly integrated into law enforcement, use Radio Frequency technology, which has proven to be optimal for recovering stolen cars and motorcycles, and are covert so they cannot be disengaged.

LoJack/NICB Vehicle Theft Protection Program

Now in its third year, LoJack and NICB’s Vehicle Theft Protection Program is an education initiative designed to help owners of cars, motorcycles, construction equipment and commercial vehicles better understand how to protect their assets from theft. To learn more about vehicle theft protection, visit LoJack’s Knowledge Center at www.lojack.com/knowledge or NICB’s website at www.nicb.org and click on “Theft & Fraud Awareness.”

About LoJack Corporation

LoJack Corporation, the company that invented the stolen vehicle recovery market more than two decades ago, is the global leader in finding and recovering a wide range of mobile assets including cars, construction equipment and motorcycles–having recovered more than $5 billion USD in stolen assets worldwide. In today’s rapidly changing world, LoJack’s core competencies are more valuable and more relevant than ever as they are now being applied into new areas, such as the prevention, detection and recovery of stolen cargo and finding and rescuing people with cognitive disorders such as Alzheimer’s and autism. LoJack has the proven processes, ultimate technology for recovery–Radio Frequency–and unique integration with law enforcement agencies, making its offerings the most effective solutions that not only deliver a wide range of recoveries, but also enhance the safety of the public on a global level. LoJack’s Stolen Vehicle Recovery System operates in 27 states and the District of Columbia, and in more than 30 countries throughout North America, South America, Europe, Africa and Asia. For more information, visit www.lojack.com.

About NICB

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. NICB member companies wrote nearly $343 billion in insurance premiums in 2008, or more than 82 percent of the nation’s property/casualty insurance. To learn more visit www.nicb.org.
    CONTACT:
    Paul McMahon
    LoJack Corp.
    781-251-4130

    Frank Scafidi
    NICB
    916-979-7025

    Jeanne Bock
    Tier One Partners
    781-861-5249

    Laura Feng
    Tier One Partners
    978-975-1414

SOURCE LoJack Corporation

PR Newswire — June 24, 2009
NEW YORK, June 24 /PRNewswire-FirstCall/ — NYMAGIC, INC. (NYSE: NYM) reported today that A.M. Best Co. has affirmed the financial strength rating of A (Excellent) for New York Marine Group and its two principal insurance company subsidiaries, New York Marine and General Insurance Company and Gotham Insurance Company. A.M. Best Co. has also affirmed the financial strength rating of A- (Excellent) for the Company’s newest insurance company subsidiary, Southwest Marine and General Insurance Company. A.M. Best’s outlook for all ratings is: “Stable.”
All of the above ratings remain unchanged from the prior year.

George Kallop, President and CEO of NYMAGIC, commented, “A.M. Best Co.’s reaffirmation of its ratings for our insurance company subsidiaries is a confirmation of our financial strength. NYMAGIC has successfully navigated the turbulence in the financial markets over the past year and is well positioned for future growth. We are committed to growing our premium revenues in a prudent manner to serve the needs of a larger number of policyholders while building value for our shareholders.”

NYMAGIC, INC. is an insurance holding company whose property and casualty insurance subsidiaries specialize in writing ocean marine, inland marine and non-marine liability insurance, and whose agency subsidiaries specialize in establishing markets for such business. The Company maintains offices in New York and Chicago.

This report contains certain forward-looking statements concerning the Company’s operations, economic performance and financial condition, including, in particular, the likelihood of the Company’s success in developing and expanding its business. Any forward-looking statements concerning the Company’s operations, economic performance and financial condition contained herein, including statements related to the outlook for the Company’s performance in 2009 and beyond, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements are based upon a number of assumptions and estimates which inherently are subject to uncertainties and contingencies, many of which are beyond the control of the Company.
Some of these assumptions may not materialize and unanticipated events may occur which could cause actual results to differ materially from such statements. These include, but are not limited to, the cyclical nature of the insurance and reinsurance industry, premium rates, investment results and risk assessments, the estimation of loss reserves and loss reserve development, uncertainties associated with asbestos and environmental claims, including difficulties with assessing latent injuries and the impact of litigation settlements, bankruptcies and potential legislation, the uncertainty surrounding the loss amounts related to the attacks of September 11, 2001, and hurricanes Katrina and Rita, the occurrence and effects of wars and acts of terrorism, net loss retention, the effect of competition, the ability to collect reinsurance receivables and the timing of such collections, the availability and cost of reinsurance, the possibility that the outcome of any litigation or arbitration proceeding is unfavorable, the ability to pay dividends, regulatory changes, changes in the ratings assigned to the Company by rating agencies, failure to retain key personnel, the possibility that our relationship with Mariner Partners, Inc. could terminate or change, and the fact that ownership of our common stock is concentrated among a few major stockholders and is subject to the voting agreement, as well as assumptions underlying any of the foregoing and are generally expressed with words such as “intends,” “intend,” “intended,” “believes,”
“estimates,” “expects,” “anticipates,” “plans,” “projects,”
“forecasts,” “goals,” “could have,” “may have” and similar expressions.
These and other risks could cause actual results for the 2009 year and beyond to differ materially from those expressed in any forward-looking statements made. Investors are referred to the full discussion of risks and uncertainties included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2008, including those specified under the caption “I. A. Risk Factors” and in other documents filed by the Company with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update publicly or revise any forward-looking statements made.
    CONTACT:
    NYMAGIC, INC.
    A. George Kallop, 212-551-0744
    or
    Richard Lewis Communications, Inc.
    Cecelia Heer or Gregory Tiberend, 212-827-0020

SOURCE NYMAGIC, INC.

PR Newswire — June 23, 2009
CIC Provides 2009 Outlook

REDWOOD SHORES, Calif., June 23 /PRNewswire-FirstCall/ — (OTC Bulletin
Board: CICI) Communication Intelligence Corporation (”CIC”), a leading supplier of electronic signature solutions for business process automation in the financial industry* and the recognized leader** in biometric signature verification announced today that a leading Fortune 500 US provider of property and casualty insurance for auto, home and business chose CIC’s SignatureOne(R) Ceremony(R) Server Solution to provide a completely paperless process for its customers.

The SignatureOne Ceremony Server is a J2EE server product that provides the capability to define and manage an electronic signature process within a Service Oriented Architecture to be implemented in an On-Premise Deployed Model or through a Software as a Service (SaaS) environment. This product enables the use of web services to pass documents and/or packages of documents and related data to a server that facilitates end-to-end management of multi-party approvals of documents, truly enabling the straight through processing of electronic forms.

This type of deployment is indicative of the ongoing change in the insurance industry moving away from traditional wet ink signatures on paper and leveraging the latest in web based technologies to automate their historically labor intensive processes. The use of electronic signature technology has emerged as a mandatory solution required for insurers to remain competitive in the current economy based on the cost savings, productivity improvement, ease of use for consumers, and rapid ROI.

“We are pleased that another Fortune 500 US insurer chose CIC to fulfill its automation needs. We believe this win, together with the successful track record that SignatureOne Ceremony Server deployments have established, including two prior successive wins with top tier insurance companies deployed in the third and fourth quarter last year, evidences the product differentiation of our SignatureOne Ceremony Server,” stated Guido DiGregorio, CIC’s Chairman & CEO. “This win together with other orders, reflects our belief that cash is freeing up for IT expenditures related to mission critical projects despite the first quarter IT spending freeze we experienced, that resulted from the recent melt down in the financial services industry. We have not received any significant input from customers or prospects suggesting that the adverse market conditions have resulted in cancellation of their planned 2009 IT electronic signature projects. Rather, projects have been delayed. Our current sales related activity indicates that planned automation programs involving our technology will be deployed.
In an effort to stay competitive and meet the heightened challenges they face since the meltdown, we believe our customer base and prospects fully recognize the need to purchase in time to gain the benefits of deployment this year. So although the recent turmoil in the financial markets has been the most severe in history, relative to its negative impact on financial services IT spending, the recognition that our technology provides the solutions for the challenges they face does provide the basis and purchase priority necessary for last half profitability. We do anticipate that 2009 revenue will exceed 2008.”

About CIC

Communication Intelligence Corporation (”CIC”) is a leading supplier of electronic signature solutions for business process automation in the Financial Industry and the recognized leader in biometric signature verification. CIC’s products enable companies to achieve truly paperless work flow in their eBusiness processes by enabling them with “The Power to Sign Online(R)” with multiple signature technologies across virtually all applications in SaaS and fully deployed delivery models.

Industry leaders such as AEGON, AIG, Charles Schwab, Prudential, Nationwide (UK), Snap-on Credit and Wells Fargo chose CIC’s products to meet their needs. CIC has deployments with over 400 channel partners and enterprises worldwide representing hundreds of thousands of users, with over 500 million electronic signatures captured, eliminating the need for over a billion pieces of paper. CIC sells directly to enterprises and through system integrators, channel partners and OEMs.
CIC is headquartered in Redwood Shores, California and has a joint venture, CICC, in Nanjing, China. For more information, please visit our website at http://www.cic.com

*In December 2008, CIC was named to Forrester Research’s “Hot Banking Tech Companies To Watch in 2009″ Report.

**In October 2007, CIC was awarded the 2007 Global Frost & Sullivan Award for Market Leadership in the dynamic signature verification market.

Forward Looking Statement

Certain statements contained in this press release, including without limitation, statements containing the words “believes”, “anticipates”, “hopes”, “intends”, “expects”, and other words of similar import, constitute “forward looking” statements within the meaning of the Private Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors which may cause actual events to differ materially from expectations. Such factors include the following (1) technological, engineering, quality control or other circumstances which could delay the sale or shipment of products containing the Company’s technology; (2) economic, business, market and competitive conditions in the software industry and technological innovations which could affect the Company’s business;
(3) the Company’s inability to protect its trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others or prevent others from infringing on the proprietary rights of the Company; and (4) general economic and business conditions and the availability of sufficient financing.

CIC, its logo, SignatureOne, Ceremony and the Power to Sign Online are registered trademarks. All other trademarks and registered trademarks are the property of their respective holders.
    Contact Information
    CIC
    Investor Relations & Media Inquiries:
    Chantal Eshghipour
    650-802-7740
    investorrelations@cic.com

SOURCE Communication Intelligence Corporation

PR Newswire — June 22, 2009
NEW YORK, June 22 /PRNewswire-USNewswire/ –The Group of North American Insurance Enterprises (GNAIE) has joined a new coalition of trade associations, representing all sectors of the economy and areas of the financial services arena, that will engage the Financial Accounting Standards Board (”FASB”) and the International Accounting Standards Board (”IASB”) on a series of projects to reform accounting standards associated with the financial crisis.

“The drive to revise accounting standards for financial instruments is gaining fresh momentum both in the United States and internationally,”
said GNAIE executive chairman Jerry de St. Paer. “These developments make it essential for the insurance industry and other affected businesses to provide input, assistance and perspective to U.S. and international standard setters that will enable them to develop high quality, robust standards. Our new coalition will help attain those goals”

Last week, the Obama Administration announced regulatory reform measures including reviews of accounting rules and an acceleration of accounting reforms related to the financial crisis.

In April, The Financial Crisis Advisory Group (”FCAG”), a joint committee of FASB and IASB, wrote G-20 leaders informing them of efforts to overhaul accounting rules. These projects include efforts to replace, update or converge the current accounting standards for financial instruments, consolidation, and derecognition, some of which are expected to be completed by the end of 2009.

De St. Paer said members of the new coalition, the Financial Instruments Reporting and Convergence Alliance (FIRCA), were committed to a set of principles:

    –  To support the adoption of joint IASB-FASB international high
        quality robust accounting standards. These standards should be
        decision-useful, reliable, and relevant. Additionally, these
        standards should present financial information in a manner that
        is reflective of the business operations of an entity.
        Appropriately crafted standards should transparently provide
        information and not drive economic activity.
    –  To assist standard setters in providing a wide range of input
        to ensure the proper consideration of business operations and
        potential unintended consequences in the development and
        implementation of accounting standards.
    –  Recognizing that the financial crisis is global in scope and
        magnitude, to work with standard setters and decision makers to
        insure that these projects are conducted jointly to ensure a
        comprehensive response to financial reporting policies.

In addition to GNAIE, founding members of FIRCA are: American Council of Life Insurers, Commercial Mortgage Securities Association, Council of Federal Home Loan Banks, Mortgage Bankers Association, Property Casualty Insurance Association of America, The Financial Services Roundtable, The Real Estate Roundtable and The U.S. Chamber of Commerce.

The goal of GNAIE is to influence international accounting standards to ensure that they result in high quality accounting and solvency standards for insurance companies and, to that end, to increase communications between insurers doing business in North America and international regulators and standard setters. GNAIE works to meet its goals through modeling of proposed accounting standards, analysis, comment and coordination with various end users of financial reports.

SOURCE GNAIE

PR Newswire — June 22, 2009
Funding Will Increase Resources Dedicated to Student Recruitment and Marketing Efforts

NEW YORK, June 22 /PRNewswire/ — 2tor, Inc. today closed $10 million in Series A financing led by Redpoint Ventures with co-investments from Novak Biddle Venture Partners and City Light Capital. 2tor, Inc.
partners with top-tier universities to build, administer, and market high quality and innovative online degree programs. Currently, 2tor has partnered with the University of Southern California’s prestigious Rossier School of Education to launch MAT@USC, a first-of-its-kind Master of Arts in Teaching program delivered online.

With Signal Hill Capital acting as 2tor’s exclusive financial advisor, the company will use the funding from this financing to increase resources dedicated to student recruitment efforts and marketing. In conjunction with the financing, 2tor has added Greg Martin, a partner with Redpoint Ventures, and Philip Bronner, a general partner with Novak Biddle Venture Partners, to its Board of Directors. They join Mark Chernis, COO of Schoolnet, Jack Larson, founder and former CEO of Career Education, John Katzman, founder and CEO of 2tor, and Board Advisors Josh Cohen, managing partner of City Light Capital, Michael McCullough, founder and president of QuestBridge, and Roy Romer, former Governor of Colorado, superintendent of the Los Angeles Unified School District and senior advisor at the College Board.

“2tor is proving that online education can be excellent and innovative.
We are delighted to have Redpoint, Novak Biddle, and City Light on our team, as well as the expertise, commitment and perspective of their partners,” said Katzman. “With them, we will continue to scale up our first program, ready the launch of our second, and step up to the role as the bridge between great universities and online learning.”

“2tor is revolutionizing higher education. By leveraging the full power of the next generation web and its deep understanding of higher education, 2tor delivers a highly immersive and interactive classroom experience to online students worldwide,” said Greg Martin, partner with Redpoint Ventures. “2tor’s innovative platform and partnering program propels elite universities to the forefront of e-learning, enabling them to reach more students and extend the power of their brand and academic excellence.”

About 2tor, Inc.

Founded by a unique team of education veterans with unparalleled experience, 2tor supplies top-tier universities with the tools, expertise, and global recruiting needed to design and implement online education programs. 2tor’s state-of-the-art technology platforms enhance traditional offline curricula to create transformative instruction using the best educational and Web 2.0 technologies. 2tor also provides the vital, yet often-overlooked, logistical components of any online program. These components include comprehensive student support services from enrollment through graduation as well as practical learning experiences within distant communities around the country. For more information, visit www.2tor.com.

About Redpoint Ventures

Redpoint Ventures teams up with exceptional entrepreneurs to help build industry-defining technology companies. Redpoint partners have many decades of experience and success in technology investing; combined with this foundation, the firm is able to leverage a thriving network of entrepreneurs, partners, and industry experts to accelerate building market-leading companies. The firm is headquartered in Menlo Park, CA with offices in Los Angeles and Shanghai, China. For more information, visit www.redpoint.com.

About Novak Biddle Venture Partners

Novak Biddle Venture Partners is a leading early stage venture capital firm focused on unique, cutting-edge technology investments in the Eastern United States, as well as targeted opportunities nationwide.
Novak Biddle seeks business situations where the combination of ideas, dollars, experience, and relationships can create long term, sustainable value. With deep expertise in the space, NBVP’s additional education investments include: Blackboard (BBBB), Spectrum K12, Intelliworks and Starfish. For more information, visit www.novakbiddle.com.

About City Light Capital

City Light Capital is a venture capital firm seeking market-based solutions to major social problems. City Light invests in early stage, for-profit businesses that create solutions in Safety and Security, Education and Media, and Energy and the Environment. The firm is headquartered in New York, NY. For more information, visit www.citylightcap.com.

About Signal Hill Capital Group

Signal Hill provides investment banking services, institutional brokerage, and equity research for small and mid-cap companies and their investors. Signal Hill’s focus is on small and mid-cap companies in business and healthcare services, communications services and technologies, education, financial technology, internet infrastructure, media, software, and property and casualty insurance. Signal Hill Capital Group LLC, a FINRA Member, is headquartered in Baltimore and has offices in Boston and San Francisco. For more information, visit www.signalhill.com.
    MEDIA CONTACTS:
    Kailyn Longoria
    (646) 747-7148
    klongoria@kwitco.com

SOURCE 2tor, Inc.

PR Newswire — June 18, 2009
- Challenges from Outside the System

HARTFORD, Conn., June 18 /PRNewswire/ — The property-casualty insurance distribution system has evolved to encompass many of the new ways of transacting business available to the customer, including new technologies and new forms of association and collaboration. Yet it is just this expansion of opportunity, and the lack of corresponding decrease in cost, that could well make the system vulnerable to disintermediation from external entities, according to a new study by Conning Research and Consulting.

“Each property-casualty distribution channel focuses on different elements of the insurance value chain,” said Alan Dobbins, analyst at Conning Research & Consulting. “While each solves a customer need well, and adds value to the insurer-client relationship, the net result is a fragmented market for insurance intermediation. This situation, coupled with a compensation system that has not been effective at promoting cost savings, could well allow entities external to and independent of the insurance industry to disintermediate and redefine distribution for property-casualty insurers in the future.”

The Conning Research study, “Property-Casualty Insurance Distribution:
Focusing the Value Proposition, Embracing Change,” presents the many distribution channels, analyzes their competitive advantages and their unique proposition to the insurer and the customer.

“In analyzing the current distribution landscape for property-casualty, along with the history of change, it becomes clear that while new channels and options continue to arise, there has been no significant culling of existing channels,” said Stephan Christiansen, director of research at Conning. “While it is not clear which channels should fall out in this process, it is very likely that the industry will not sustain the cost structure of this complex system for much longer. In fact, the longer this expanded system continues, the more attractive it is for external forces to enter and disrupt the entire system.”

“Property-Casualty Insurance Distribution: Focusing the Value Proposition, Embracing Change”is available for purchase from Conning Research & Consulting by calling (888) 707-1177 or by visiting the company’s web site at www.conningresearch.com.

About Conning Research & Consulting

Conning Research & Consulting provides insurance industry analysis to insurers and industry stakeholders. Its published research includes market coverage of 30 segments of the industry in addition to industry forecasting and identification and analysis of major strategic issues.
As a result of its wealth of experience and intimate knowledge of the insurance industry, Conning understands industry challenges and opportunities and provides in-depth analyses on a wide range of industry products and issues. The Conning name has represented excellence in independent insurance industry research for 50 years.
Conning Research & Consulting is a division of Conning, a provider of asset management and insurance industry research and consulting services to insurers. Conning is headquartered in Hartford, CT.
    Contact   Anne Steinberg
              Kitchen Public Relations, LLC
              212-687-8999
              anne@kitchenpr.com

SOURCE Conning Research & Consulting