Car Insurance

Fiserv Advanced Insurance Solutions (AIS), a unit of Fiserv, Inc. (Nasdaq: FISV), today announced that Unitrin Specialty Lines Insurance, with principal offices in Dallas, Texas, has signed a licensing agreement for the Fiserv AIS Claims Workstation.

Unitrin Specialty Lines Insurance focuses on non-standard automobile, motorcycle and personal watercraft insurance products. The company will begin using Claims Workstation this year, raising the number of client sites using the solution to 61.

Unitrin Specialty Lines Insurance began looking for a claims management system as it moved toward integrating the claims operations of two companies.

“We needed to move to a common claims processing system that met all of the existing business needs and provided the functionality necessary to be a long-term solution,” said Pete Hansen, Vice President of Claims for Unitrin Specialty Lines Insurance. “We didn’t want to have to go back in two or three years and invest significant dollars or resources to enhance our processing system.”

Unitrin Specialty Lines executives identified future, key business needs and processes and then determined the functionality needed to support their vision. Based on their assessment of claims systems, they selected Claims Workstation, version 4, coupled with an imaging solution. Hansen identified Claims Workstation’s open architecture as significant to the decision. Claims Workstation allows system configuration to meet unique workflows and processes, while providing the ability to change the system in the future with limited IT involvement.

“Claims Workstation’s flexibility and open architecture are key requirements in the industry today,” said Robert Bruce, President of Fiserv AIS. “We are pleased with the opportunity to help Unitrin Specialty Lines achieve its vision for customer service and operational efficiency.”

Founded in 1986, Fiserv AIS is a leading provider of software and services to the property-casualty industry. Fiserv AIS systems handle personal and commercial lines, billing, claims, and premium accounting and reporting. Insurers can license the systems or opt to have Fiserv AIS operate as the application service provider (ASP). Consulting services also are available.

Fiserv, Inc. (Nasdaq: FISV) provides industry leading information management systems and services to the financial industry, including transaction processing, outsourcing, business process outsourcing and software and systems solutions. The company serves more than 13,000 clients worldwide, including banks, broker-dealers, credit unions, financial planners/investment advisers, insurance companies and agents, self-insured employers, lenders and savings institutions. Headquartered in Brookfield, Wisconsin, Fiserv reported $2.3 billion in processing and services revenues for 2002.

Sirco International Corp (NASDAQ:SIRC) announced today that is affiliate RiderPoint, Inc. has received the necessary State licenses to begin selling motorcycle/watercraft insurance in the following States: Colorado, Illinois Indiana, Michigan, Minnesota, Maryland, Iowa, North Carolina and Wisconsin. With these States, RiderPoint expands its coverage to a total of eleven States. RiderPoint expects to have licenses in a minimum of 22 States by the end of the year. The Company plans to add these States to its comparative rater, RiderPoint I.Q. (Insurance Quote) over the coming weeks. Sirco’s subsidiary, WebQuill Internet Services, is currently working with RiderPoint to port RiderPoint I.Q. on to the Internet.

“Motorcycle/watercraft insurance is a blind marketplace. Most consumers do not have the time or patience to shop and compare insurance rates. The various factors within the major insurance companies give rise to significant differences in the rates for the same rider (in some cases as much as a $1,000 dollars). With our RiderPoint I.Q. software, the whole transaction from quotes to generating all the paperwork necessary to bind the consumer takes less than ten minutes”, said Craig Gironda, SVP of Sales & Marketing. “The new states expand the area that we can do business in with our unique insurance comparative rater. We now have approximately 45% of the motorcycle population of the United States covered with the addition of these states.”

RiderPoint, Inc is an innovative developer, marketer and administrator of insurance and financial services programs. The Company utilizes an integrated marketing and sales distribution system that leverages its’ existing network of dealers and independent insurance agents, the Internet and proprietary information systems. In addition to it’s website, riderpoint.com, the Company is currently developing and deploying predictive dialer phones and interactive kiosks, called RIC(TM) (Riders Information Center) in selected dealerships.

Sirco International Corp. is a diversified publicly traded company that invests in, develops and incubates Internet and telecommunications-related businesses. Sirco’s portfolio of businesses include its wholly-owned subsidiaries, Essex Communications, a New York based CLEC, WebQuill Internet Services, a Connecticut based ISP and Airline Ventures, Inc., a Texas-based E-Commerce Retailer; and its affiliates, Access One Communications, a Florida-based CLEC and RiderPoint, Inc., an online marketer of insurance and financial products.

This release contains forward-looking statements that involve risks and uncertainties. The Company’s actual results may differ materially from the results discussed in the forward-looking statements. Factors that might cause such a difference include, among others, availability of management; availability, terms, and deployment of capital; the Company’s ability to successfully market its services to current and new customers, generate customer demand for its product and services in the geographical areas in which the Company can operate, access new markets, negotiate and maintain suitable reseller and interconnection agreements with the incumbent local exchange carriers, and negotiate and maintain suitable vendor relationships, all in a timely manner, at reasonable cost and on satisfactory terms and conditions, as well as regulatory, legislative and judicial developments that could cause actual results to vary in such forward-looking statements.

AMS Services, a leading provider of software solutions for the insurance industry, today announced that DCAP Group, Inc. (NASDAQ: DCAP) selected AMS 360® to manage its multiple agencies and the AMS SETWrite™ real-time, multiple-carrier rating solution for its 71 stores. DCAP Group, Inc. franchises, owns and operates storefront insurance agencies under the DCAP, Barry Scott, Atlantic and Accurate brand names. The company’s storefront locations serve as insurance brokerages, placing various types of insurance on behalf of its customers, which includes many small businesses. DCAP Group is the largest chain of independent insurance brokerages in the Northeast focusing heavily on automobile, motorcycle and homeowners insurance.

Because of the growth DCAP Group has experienced over the past five years, the company wanted to provide professionalism and consistency across all of its stores including the ability for each store to deliver the right insurance choice that best fits the needs of its customers and prospects. In order to do this, the company needed one agency management system and one comparative rating solution for all 71 stores.

“DCAP Group was looking for a complete, single-vendor solution that would expand with us as we meet our future growth goals,” said Barry Goldstein, chairman and CEO of DCAP Group. “With the integration between AMS 360 and AMS SETWrite, we will be able to provide the best possible rates and customer experience across all our stores.”

AMS 360 is a proven agency management system that provides a complete view of an agency’s business by seamlessly bridging agency information, business relationships and management tools as well as easily connects agencies with carriers. AMS SETWrite is a real-time, multiple-carrier rating system that reduces keystrokes and redundant processes to deliver accurate rates directly from carriers.

Both systems are fully integrated to provide a single solution that allows agencies to be more productive and profitable. For DCAP Group, AMS Services is providing a branded solution that will allow DCAP Group to streamline its operations and protect its investments.

“AMS Services is providing DCAP Group with the integrated solutions crucial to sustaining and growing their business,” said Bill Bunker, senior vice president of product management and marketing at AMS Services. “We are pleased to have been chosen by DCAP Group to partner in their growth initiatives. We look forward to working with them for many years.”

About AMS Services

Vertafore, Inc. d/b/a AMS Services is dedicated to helping independent insurance agencies achieve maximum performance and operational efficiency. The business offers a comprehensive, insurance-specific solution for managing critical business activities, including agency management, rating, benefits, performance management and carrier connectivity. With more than 150,000 users in over 15,000 agencies, as well as 600 carrier partners, AMS Services is a proven market leader providing the strategy and scalability to help independent agencies excel now and in the future. For more information on AMS Services, please visit www.amsservices.com

About DCAP Group

DCAP Group, Inc. owns and operates the largest chain of independent storefront insurance agencies in the Northeast. Through DCAP Insurance, Barry Scott Insurance, Atlantic Insurance Agency and Accurate Agency, DCAP Group provides automobile insurance (and to a lesser extent, motorcycle and homeowners), enhanced by complimentary premium financing capabilities, to retail customers in New York, New Jersey, and Pennsylvania. Other products include automobile club service for roadside emergencies and income tax preparation services. As of October 31, 2006, DCAP had 71 owned or franchised storefront locations.

AMS and SETWrite are trademarks of Vertafore, Inc. The names of actual companies, business units and products mentioned herein are trademarks of their respective owners.

In a case where the plaintiff was seriously injured following a motorcycle accident, the U.S. District Court for the Western District of New York upheld the health insurance company’s refusal to allow the plaintiff to privately enter into a settlement agreement with the owner and driver of the car who hit him.

In Richard P. Borden v. Blue Cross and Blue Shield of Western New York, a/k/a HealthNow, NY, Inc., et al., Judge William Skretny concluded the insurance company had the right to refuse to waive its subrogation claim and seek recovery for the benefits it paid from the parties responsible for the plaintiff’s injuries.

Parties, Case Background

The instant dispute stems from an accident that the plaintiff, Richard P. Borden, was involved in when a car hit the motorcycle he was riding on in September 2004.

Borden suffered serious injuries resulting in hospitalization for several months. His health insurance provider, Blue Cross and Blue Shield of Western New York, a/k/a HealthNow, NY, Inc., paid more than $55,000 in medical expenses for him.

In February 2005, State Farm Mutual Automobile Insurance Co. - on behalf of the owner and driver of the car who hit Borden - offered to pay him $100,000 to settle his claims.

Borden subsequently asked HealthNow to consent to the proposed settlement, and to waive its subrogation rights. According to the terms in the insurance plan, HealthNow could proceed independently against any parties responsible for his accident in order to recover the benefits it paid.

plan contained the following rider: In the event that you suffer an injury or illness for which another party may be responsible, such as someone injuring you in an accident, and we have paid benefits as a result of that injury or illness, we will be subrogated and succeed to the right of recovery against the party responsible for your illness or injury to the extent of the benefits we have paid. This means we have the right independently of you to proceed against the party responsible for your injury or illness to recover the benefits we have paid, (emphasis added).

Based on these terms, the court found that HealthNow had a right of subrogation.

Specifically, the court noted that HealthNow had already paid more than $55,000 in medical expenses, and as a result had the right to try to recover those costs. Therefore, the court found that HealthNow’s refusal to waive its right of subrogation did not constitute a breach of its contractual or fiduciary duties as defined under the benefit plan.

Under the circumstances, it cannot be said that this subrogation language is ambiguous, wrote Judge Skretny. Therefore, this court construes the plan to confer upon HealthNow an unqualified right of subrogation against any persons responsible for causing injuries to its insured for which it has paid benefits.