Your OLD account/policy company and your NEW one: The following have changed hands: Safeco Corp to Liberty Mutual Group Bear Stearns to JPMorgan Chase Countrywide Mortgage to Bank of America Combined Insurance to Ace (Burmuda) Sterling Life to Munich Re (Germany) Atlantic Mutual to Ace (Burmuda) NetBank to ING Bank (Netherlands) Commerce Bank to TD Bank (Canada) 21st Century Insurance to AIG Champion Mortgage to HSBC (UK) Health insurance arm of Great-West Life to CIGNA. KMG America to Humana Conseco outsource long term care insurance servicing to Long Term Care Group Union Bank retirement business to Prudential Mutual Savings Life and Mutual Savings Fire to Unitrin ShareBuilder brokerage to ING (Netherlands) Midland to Munich Re (Germany) Investacorp to Ladenburg Thalmann Financial Services Columbian Mutual Life and Farmers and Traders Life merger to Columbian Mutual Life Republic Insurance to Starr International Conseco annuities to Swiss Re Banc of America Corporate Insurance Agency to Hilb Rogal & Hobbs Alabama National BanCorporation to Royal Bank of Canada (Canada) Investors Financial Services to STATE STREET Merrill Lynch Life and ML Life Insurance Co. of New York to Aegon (Netherlands) SafeGuard Health to MetLife Ohio Casualty to Liberty Mutual Sentinel Management filed Chapter 11 bankruptcy Broker A.G. Edwards to Wachovia PFIC Securities to INVEST Conseco annuity (part) to Reassure America Life GE (Genworth) group insurance to Sun Life (Canada) Mutual of Omaha health to Coventry Health American Mayflower to Genworth Life & Annuity Federal Home Life to Genworth Life & Annuity First Colony Life to Genworth Life & Annuity Golden West Financial to Wachovia Commercial Capital Bancorp to Washington Mutual BWC Financial to First Republic Regions Financial to AmSouth Bancorp Community Bancorp to First Community Bancorp Signature Bank to BancorpSouth Clark Inc (COLI) to AEGON Brown & Co to E*Trade Harrisdirect to E*Trade TD Waterhouse (Canada) to TDAmeritrade. Independence Community Bank to Sovereign Bank Hudson United Bank to TD Banknorth JPMorgan Chase life policies to Protective Life Company U.S. Bancorp 401k to Great-West(Canada) MetLife retirement plans to Power Corp[Canada] MetLife Auto & Home to Proformance New Jersey Prudential auto/home to High Point-Palisades New Jersey John Hancock to Manulife [Canada] Fireman’s Fund to Allianz [Germany] Household Finance to HSBC [UK] Sage Life to Old Mutual [S. Africa] Kemper to Arch Prudential brokerage to Wachovia Mutual of Omaha health was cancelled American General to AIG Jefferson Pilot to Lincoln Financial Keyport Life to Sun Life [Canada] Allmerica universal life to John Hancock [Canada] First Penn-Pacific to Lincoln Financial Worldwide to Response Main Street Banks to BB&T Bank Banner Life & William Penn to Legal & General [United Kingdom] Mayflower National Life to Assurant Inc Rydex Investments to Security Benefit Group SKY Financial Group to HUNTINGTON BCSHS Investors Financial Services to STATE STREET Option Care to WALGREEN Bankers’ flood to Fidelity American Skandia to Prudential Provident Mutual to Nationwide Trustmark to National Guardian Great American, Inviva, C.N.A. life and annuity to Phoenix Royal & Sun Alliance to Friends Ivory & Sime plc [United Kingdom] Safeco’s life & investments to White Mountain Sierra Insurance Group to White Mountain CNA group benefits to Hartford Travelers to St Paul Molloy Co. to Principal Financial MBNA to Bank of America Fleet Bank to Bank of America Bank One to JPMorgan Chase Cigna‘s retirements to Prudential GE Financial Assurance to Genworth Financial MONY to Axa (France) Mid American Alliance & Century Life to Citizens Canada Life's US group to Jefferson-Pilot CNA‘s life to Swiss Re First Life America to Brooke Corp Royal & Sun Alliance to Arrowpoint Capital. AmerUs Life, American Investors, Bankers Life (New York) and Indianapolis Life to Aviva PLC (UK). Beacon Insurance Group to State Automobile Mutual Harbor Florida to National City Firstbank to Sterling Financial 403(b) business of Transamerica Life Insurance to OneAmerica Financial Partners (Our list is updated daily and you can receive this information FREE in our Email Alert. Email your Ename to FinancialRx@yahoo.com.) WHO OWNS YOUR ACCOUNT NOW? The short answer is that your bank, brokerage or insurer believes that your relationship is only profitable for a short time. Consider how many times your bank has changed ownership. Remember the stories about the insurance companies that drop homeowners or auto owners because they asked about a possible claim or wanted customers to pay higher premiums. State Farm dropped 200,000 drivers in New Jersey. In Texas, Farmers left the state because they couldn't raise everyone’s homeowner’s insurance premium. Most insurers are avoiding the East coast. Allstate will abandon 200,000 Floridians. Many Katrina victims pay double now even as their insurers post 11% profit INCREASES. Twenty years ago, carriers and their agents used to tell customers that they were “preferred” customers. Now, agents and carriers hire “professional” marketers and “data-mining” experts to guide their sales efforts. In 1997 one of our New Jersey members was dumped by the insurer associated with AAA. The member has a very good credit rating and driving record—one of the two drivers (over 40 years old) was rear-ended 5 years before. Guess what the carrier said? AAA’s insurer said that their “computer model” decided the member was due for an accident and they were dropping the customer of 10 years, now, before the claim. Our Guide helped the member file a complaint with the state’s insurance regulator. It helped the member go shopping for a new carrier. The member found a carrier that charged much less. The complaint forced the old carrier to reinstate the member and was fined by the state. A year later, the member went shopping again for coverage. This time they answered an advertisement from another company with an A++ rating. They obtained coverage--same limits and guarantees on two vehicles--but for another savings of about 30%. The new carrier was just entering the New Jersey market and needed good customers. Our members have learned that they must shop for new insurance on a regular basis just like groceries. Shop with our Insider's Guide to Vehicle Insurance below. The point of this story is that companies DON'T want a long-term relationship with you anymore. Financial services firms use niche marketing techniques today. Most public companies feel no loyalty to you. Just like the situation with pensions. Today, there are fewer people who will receive a defined benefit pension from work. We are on our own to choose an investment inside our employer’s 401K or 403B or other voluntary plan. We have all been forced to make decisions we aren't prepared for to make. We must learn to protect our lifestyles ourselves in the 21st Century. Actually, we are better off, anyway. Our Insiders can help you become your own advisor. Most bankers, agents and brokers have moved on. You cannot become independent financially if you rely on salespeople to tell you what to do. That time is gone. The reality of every financial decision is that you must weigh all advice by the bias that comes with it. We have our bias too. We think you can do it yourself and save. We don’t want you to buy products that waste your money. We don’t sell products because the best ones are not sold by middlepeople. Buy where the financial pros do--direct from the manufacturers--using a salaried salesperson. See our What NOT to Buy: 101 Financial Products below. We can help you learn how to shop for financial services like you shop for any expensive product or service. Do you buy a car at the first dealer you see? Do you pay full price for the car or truck? Why buy expensive financial services from your bank, broker or insurance agent? In the 21st Century, you need to learn how to buy smart on your own in order to become financially independent. We can help you buy every product or service you need without the middleperson’s fees and commissions. And, you will have fun doing it. Our members found low-cost solutions in the Insider's Guides. Get started with our FREE Guide. You can do it yourself and save! FREE Starter Guide All The Insider's Guides The Insider’s Guide to Vehicle Insurance Regular price: $19.95 Sale price: $9.95 The Insider’s Guide to Homeowner’s Insurance Regular price: $19.95 Sale price: $9.95 What NOT to Buy: 101 Financial Products Regular price: $19.95 Sale price: $9.95 The Insider’s Guide to Your Self-Insurance Fund Regular price: $19.95 Sale price: $9.95 Copyright © 2010 Insurance Advisors Network™, LLC