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Products & Services


MassMutual updates disability policy

SPRINGFIELD, Mass.—Massachusetts Mutual Life Insurance Co. has updated its comprehensive disability income insurance offering to include eased underwriting requirements and higher coverage limits.

For applicants age 45 and younger, blood work and urinalysis have been replaced with a less invasive and quicker oral fluids test, gathered with a swab of the inside cheek. Additionally, instead of a paramedical exam, physical measurements, such as height, weight and blood pressure, are sufficient.

MassMutual also has increased income replacement levels, allowing individuals earning higher salaries to protect more of their income. For example, for executives and professionals--including engineers, CPAs and attorneys--MassMutual can issue up to $20,000 of monthly income protection, when those individuals already are covered by group long-term disability insurance through their employers. In addition, for physicians MassMutual now can issue up to $10,000 of income protection per month, up to age 60.

Payments will continue until age 65 or 67, depending on the policy.

Radius Executive Select, an individual disability income insurance programs targeted to high-income earning executives that was introduced by MassMutual in 2005, extends coverage limits for high-ranking executives, such as chief executives, corporate presidents, senior and executive vps and managing directors, allowing coverage of a larger percentage of their salaries. The highest income earners who have long-term disability coverage in place can receive a maximum of $50,000 per month if totally disabled.

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St. Paul Travelers unveils fraud cover

ST. PAUL, Minn.—Insurance companies have access to increased protection for employee dishonesty, fraud and other related losses under an enhanced product introduced by St. Paul Travelers Cos. Inc.

Travelers SelectOne for Insurance Companies Financial Institution Bond covers insurance companies for employee dishonesty and other types of loss including computer crime, forgery or alteration of securities, and kidnap and extortion.

Some key enhancements of the program include:

  • Expanded employee dishonesty coverage to include an option for restoration costs protection when an employee maliciously destroys electronic information.

  • Expanded computer theft coverage to include an option for restoration costs protection and enhanced coverage for fraudulent entries made over the Internet.

  • Expanded kidnap and ransom coverage to include e-commerce extortion threats.

  • Expanded forgery and alteration coverage to include fax and voice instruction transactions.

  • No charge for certain midterm acquisitions that are less than 25% of the consolidated assets of the policyholder.

  • Enhanced discovery language.

Travelers SelectOne for Insurance Companies Financial Institution Bond is an admitted product.

The maximum limit for the policy is $25 million. For more information, contact John Hahn, national director of Financial Institution Bonds, at 860-277-1952, or by e-mail at

AIG Passport offers global D&O service

NEW YORK—American International Group Inc. has introduced AIG Passport, an enhanced service process for corporate clients purchasing locally admitted directors and officers liability insurance to cover their international operations and subsidiaries.

AIG Passport allows customers to request from an AIG underwriter a global D&O program letter that details terms and conditions of the base D&O policy and one or more locally admitted policies, written in the local language and compliant with specific local laws and regulations. AIG Passport is available for international operations and subsidiaries in more than 75 countries and jurisdictions.

AIG companies will underwrite and issue AIG Passport policies, as well as manage claims locally. AIG Passport service is available at inception or renewal for existing primary D&O insurance customers.

For more information, contact Stephen P. Whelan, executive vp, commercial accounts division of AIG's National Union Fire Insurance Company of Pittsburgh, Pa., at 212-458-2526, or by e-mail at

We'd like to report on new risk management and employee benefit products and services offered by your company. Please send information about your new offerings to: Joe Walker, Business Insurance, 360 N. Michigan Ave., Chicago, Ill. 60601-3806; telephone: 312-649-5283; fax: 312-649-7801; e-mail: