Protect Your Portfolio with These Insurance ETFs - Zacks.com

Leading up to the Q3 earnings season, investors were quite uncertain about the direction of American stocks to close out the year. A great deal of worry is certainly baked into the market thanks to a number of political risks regarding the election and the fiscal cliff, while international market weakness sure isn?t helping matters either.

These worries have been confirmed by some degree of weakness to start the new earnings season as a number of companies have seen weakness in their reports. Thanks to this, the average U.S. focused equity ETF, according to XTF.com, has lost about 2.8% in the trailing one month period, underscoring the negative tone many investors are taking towards the market at this time (read Beware These Three Volatile Financial ETFs).

However, while most segments, and indeed broad market ETFs, are facing a wall of worry, there are still a few standout sectors. Particularly, investors have seen some strength in the financial space as a number of large firms in this corner of the market have posted solid earnings despite the overall market gloom.

Given this strong performance of financials as of late, it could be time to cycle into the space for protection during this difficult time. While a broad look at the sector could be a good idea, a concentrated look at one of the more outperforming segments of the space, insurance companies, could be the best way to go.?

In fact, the insurance ETF space has been one of the best performers in the U.S.-centric fund market, crushing many of their competitors in the trailing one month period. According to XTF.com as of October 23^rd, of the top seven best performing U.S. ETFs in the trailing one month period, five are insurance ETFs, suggesting that they have been able to, on average, crush broad market performance in this recent market downturn (see Top Three Mortgage Finance ETFs).

With this strength acting as a nice momentum tailwind, and with more uncertainty likely coming down the pike in the near future, insurance ETFs could be the way to go for investors looking to play the American market with ETFs. For these investors, we have briefly highlighted some of the top performing choices in this intriguing slice of the market below:

SPDR S&P Insurance ETF (KIE) ? This ETF utilizes an equal weight methodology in its strategy, holding 46 securities in its basket and charging a reasonable 35 basis points a year in fees. In terms of yield, the product pays out 1.7% in 30 Day SEC terms, and it receives a Zacks ETF Rank of ?3? or hold, with a medium risk rating (read Does Your Portfolio Need a Financial ETF?).

In terms of holdings, the sector profile is skewed towards property and casualty insurance at 40% of assets, while life & health account for another 20% of the fund. Due to the equal weight methodology, the no one security accounts for more than 2.7% of assets, giving the product a very spread out approach for its exposure to the insurance sector.

PowerShares Dynamic Insurance Portfolio (PIC) ? Another way to target the insurance industry is via PIC and its more ?dynamic? approach. The fund utilizes a variety of investment criteria in order to weight and select securities for its fund, resulting in an ETF that has just 30 stocks in its basket but a net expense ratio of 0.67% (see Zacks Top Ranked Financial ETF: Star in Q3 Earnings).

Investors should also note that volume and yield come in on the low side, so the product probably won?t be much of an income destination, especially after fees. However, the fund?s dynamic allocation system could help the product cycle into better stocks and keep the ETF at a lower risk level, assisting the fund in achieving a Zacks ETF Rank of 3 or Hold and a low risk rating.

Dow Jones U.S. Insurance Index Fund (IAK) ? ETF investors looking for iShares? entrant in the insurance market should look no further than IAK. This ETF tracks the Dow Jones U.S. Select Insurance Index, holding roughly 60 stocks in its basket and charging investors 47 basis points a year in fees.

The ETF is a little more concentrated, putting close to 60% of assets in the top ten securities and just over 50% in property/casualty insurance firms. The yield is moderate at roughly 1.6% a year, while performance has been solid, putting the fund with a Zacks ETF Rank of ?3? or hold, with a medium risk rating.

PowerShares KBW Insurance Portfolio (KBWI) ? For another PowerShares insurance ETF, investors have KBWI, a fund that utilizes KBW?s methodology in order to focus in on the insurance segment. The product only holds 24 stocks in its basket, and is more of a low cost choice, charging investors just 35 basis points a year in fees (read Three Financial ETFs that Avoid Big Bank Stocks).

The ETF also has a decent mid cap holding, while it is relatively well spread out among its top ten, at least considering the small number of securities in the portfolio. The yield is also relatively good at 1.8% in 30 Day SEC terms, helping to give the ETF a Zacks ETF Rank of 3 or Hold and a low risk rating.

PowerShares KBW Property & Casualty Insurance Portfolio (KBWP) ? PowerShares teams up with KBW once again for this ETF, except the focus of the fund is solely on property and casualty insurance providers. This results in a basket of roughly 24 stocks and a slightly higher expense ratio of 0.37% to investors.

The portfolio is also heavier in small cap securities, although two large cap names, Travelers (TRV - Analyst Report) and Allstate (ALL - Analyst Report), account for nearly 18% of assets. Investors should also note that the yield is reasonable for this fund at roughly 1.8% in 30 Day SEC terms, while the fund has been one of the best performing of the group in the time frame, adding just over 4.7% for the trailing one month period.

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Source: http://www.zacks.com/stock/news/85516/protect-your-portfolio-with-these-insurance-etfs

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Israel's Netanyahu, Lieberman merge parties for ballot

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Source: http://news.yahoo.com/israels-netanyahu-ally-lieberman-merge-parties-164524046.html

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Mourners to attend final farewell to former Senator McGovern

(Reuters) - Family, friends and fellow politicians on Thursday prepared for a prayer service to mourn former U.S. Democratic Senator George McGovern, a passionate opponent of the Vietnam war who was defeated by Richard Nixon in the 1972 U.S. presidential race.

Vice President Joe Biden was among those scheduled to attend a prayer service at 6:30 p.m. Central Time in Sioux Falls, South Dakota. McGovern, a liberal icon, died in the city on Sunday.

McGovern, who was 90 when he died, was a mentor to many Democrats. His 1972 campaign workers included former President Bill Clinton and Secretary of State Hillary Clinton.

The soft-spoken son of a Methodist minister, McGovern was a fierce advocate in the fight against world hunger who continued to give speeches and write until shortly before his death. He served in the Senate for South Dakota from 1963 to 1981.

McGovern's funeral was set for 1 p.m. Central Time on Friday at the Mary Sommervold Hall in the Washington Pavilion of Arts & Science in Sioux Falls.

The senator had "an uncommon sort of patriotism that was expressed with great integrity and eloquence and the courage of his convictions," said Thomas Knock, a professor at Southern Methodist University who is writing a biography of McGovern.

"I think he lived a great life and that is a great legacy to leave behind - a life's work driven by an affinity for our country's best historic ideals," Knock said.

McGovern suffered one of the most lopsided defeats in U.S. history in the 1972 election, winning only Massachusetts and the District of Columbia, against a well-oiled Republican political machine headed by Nixon.

Later, as Nixon's presidency unraveled in the Watergate scandal, bumper stickers saying, "Don't blame me, I'm from Massachusetts," and buttons saying "Don't blame me, I voted for McGovern," appeared.

McGovern's legacy stretches well beyond his terms in Congress and presidential bids, to include the fight against world hunger, AIDS and other social issues.

McGovern earned the Distinguished Flying Cross as a B-24 bomber pilot who flew 35 combat missions over Europe in World War Two. He was elected to the U.S. House of Representatives in 1956, and again in 1958.

(Reporting by David Bailey; Editing by Paul Thomasch and David Storey)

Source: http://news.yahoo.com/mourners-attend-final-farewell-former-senator-mcgovern-173648100.html

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PFT: Cam doesn't see any racism behind criticism

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Saints linebacker Jonathan Vilma didn?t want Commissioner Roger Goodell to preside over the internal appeal of Vilma?s suspension.? Vilma got his way.

Now, Vilma doesn?t want Goodell?s designee to preside over the internal appeal of Vilma?s suspension.? Vilma may get his way.

Ultimately, Vilma wants Judge Helen Berrigan to appoint the arbitrator.

?In appointing Tagliabue, Goodell has shown beyond any doubt that he simply cannot be allowed to appoint the arbitrator to adjudicate this matter,? Vilma?s lawyer, Peter Ginsberg, writes in his most recent legal filing, ?and the time has come for the Court to appoint a person who can fairly and impartially resolve the instant dispute according to the standards demanded by federal law.?

In attacking the appointment of Tagliabue, Vilma points to various factors that have been mentioned here in recent days.? Tagliabue works for Covington & Burling, the law firm that represents the NFL in the bounty litigation and other matters.? In 2010, the NFL paid Covington & Burling more than $3.8 million in fees.? In 2010, Tagliabue received $1 million in base compensation from the NFL, along with $7.583 million in deferred compensation and retirement benefits.

Vilma also explains that that, on October 22, he requested more information about money paid to Tagliabue and Covington & Burling since Tagliabue?s tenure as Commissioner ended, along with details regarding legal services provided by Covington & Burling to the NFL and its teams.? Vilma contends that the NFL refused to provide the information.

?Tagliabue cannot serve as an impartial arbitrator without compromising Covington & Burling?s and his representation of Goodell and the NFL,? Ginsberg writes.? ?Any arbitration award short of a total affirmation of Goodell?s punishment conflicts, ostensibly at least, with what is the NFL?s best interests.? Likewise, any arbitration award challenging or rejecting Goodell?s conduct in this matter could jeopardize Goodell?s position in the pending defamation case.? If Tagliabue finds ? as he should ? that Goodell imposed discipline without basis, it follows that Goodell?s comments concerning the purported Bounty Program were reckless or in disregard of the truth.? Tagliabue thus would be in a position of issuing an award that exposes his client to liability for defamation.?

Though the NFL will respond by pointing to the fact that lawyers like Jeff Pash, who works in-house for the league, have served in this same capacity in the past, the fact that Tagliabue has a relationship with a firm that has a lucrative, ongoing, attorney-client relationship with the league creates the appearance of potential impropriety, which usually is enough to trigger judicial intervention.

Either way, we?ll have an answer by next week.? And it won?t be a surprise if Judge Berrigan disqualifies Tagliabue.

Source: http://profootballtalk.nbcsports.com/2012/10/24/cam-newton-doesnt-see-any-racism-behind-criticism/related

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Cheshire treasurer has plan to lower debt of Hoosac Valley school project

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Adams-Cheshire Regional School District (ACRSD) treasurer Richard Jette announced plans to manage Hoosac Valley Middle & High School building project debt.

Tuesday October 23, 2012

CHESHIRE -- Adams-Cheshire Regional School District (ACRSD) treasurer Richard Jette announced Monday financing plans to manage the district?s Hoosac Valley Middle & High School building project debt that will save $2.5 million off the original expected cost.

The savings will be realized, according to Jette, by dropping from a 25 to a 20-year bond and permanently financing the Hoosac Valley Middle & High School building project, given a current market of favorable interest rates.

"It?s a process that we think makes a lot of sense," Jette said at an ACRSD meeting at Cheshire Elementary School.

This fiscal year, residents of Adams and Cheshire are subject to the first three tax rate increases associated with the project, but the full amount won?t weigh in until fiscal 2015.

Before Monday?s announcement, tax rates for the two towns in fiscal 2015 were projected to be up $1.47 in Adams and $1.04 in Cheshire per $1,000 of valuation.

Under the new plan, these figures drop to $1.25 and $0.84, respectively.

"We?re expecting that [this plan] will substantially lower the interest rate," Jette said.

The total cost of the Hoosac Valley Middle & High School Building project was roughly $40 million, 78 percent of which was covered by the Massachusetts School Building Authority. The refurbished school opened for business in September.

ACRSD officials will discuss the plan further in

meetings next month.

In other business, reported technology issues at Hoosac Valley are nearly resolved, according to the school?s technology department.

At Monday?s meeting, the district?s Technology Facilities Specialist Dayne Poirot said only 16 of the school?s 154 new computers require programming.

The technology department incurred issues while attempting to network computers to the school?s system, which led last week to a visit from "corporate people from Apple," who also had problems. Poirot and others have been working on the computers one-by-one.

Projectors in the school?s auditorium and library are also in the process of being programmed.

Once the system is established, Tech nology Coordinator Peter Breen said at the meeting, faculty would benefit from additional training.

"It really needs another 16 hours per faculty member of training," Breen said. "The more we can do on the technology, the better."

Friday marks the district?s final "professional development" day, but officials said they?d consider expending the amount required to provide additional training and discuss it at a future meeting.

To reach Phil Demers, email pdemers@thetranscript.com.

Source: http://www.thetranscript.com/headlines/ci_21832727/cheshire-treasurer-has-plan-lower-debt-hoosac-valley?source=rss

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"Arrow" Gets Full Season Order From CW

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Michigan considers locking clean energy mandate in constitution

WASHINGTON (Reuters) - In less than two weeks, Michigan voters will decide on a hotly contested ballot initiative on whether the state should become the first in the country to enshrine a renewable energy mandate in its constitution, a move that backers say could put clean energy in the national spotlight.

The measure, known as proposal 3, would require that one-quarter of the electricity produced in the state to come from renewable energy sources by 2025.

Michigan, a battle ground state in the U.S. presidential election, is already halfway to meeting its current mandate, passed in 2008 by the state legislature, to produce 10 percent of its electricity from renewable sources such as wind, solar, hydro and biomass by 2015.

Thirty states, including Michigan, have a renewable electricity standard in place but if the proposed amendment passes it would be the first time a renewable energy standard would appear in the constitution, making it difficult to strike down or alter.

Proponents of the proposal have said taking the approach of including a renewable energy mandate in the constitution was necessary to ensure that popular support for green energy is not overshadowed by what they see as special interests in the state government.

"I see this as absolutely important part of the democratic process. It places checks and balances against legislature, which is unwilling to act," said Sam Gomberg, a Chicago-based energy analyst at the Union of Concerned Scientists (UCS).

Gomberg said one year ago, a number of Michigan-based environmental and labor groups talked about extending the state's current renewable energy standard (RES) by 15 years but met strong resistance from utilities.

Instead of floating the expansion of the RES as a statutory initiative on Election Day ballots, proponents introduced it as a constitutional amendment, preventing state lawmakers from drafting competing and contrasting ballot initiatives.

MEDIA BLITZ

Support for the amendment has been split, prompting the coalition of opposing utilities and business groups called Clean Affordable Renewable Energy to pump $10 million into television advertising to sway voters ahead of the November 6 vote.

The group argues that the measure will cost Michigan taxpayers anywhere from $12 billion to $15 billion largely from higher energy costs and argued the state already has an effective mandate in place.

Amendment backers, which include green group the Sierra Club and the United Auto Workers, say the renewable energy mandate will create 94,000 jobs in the hard-hit manufacturing state and stimulate $10.3 billion in investment.

Republican Governor Rick Snyder said while he supports renewable energy, he opposes the ballot initiative because the current RES is already difficult to meet.

The governor's energy advisor, Valerie Braden, said the state's constitution is a "bad place to put energy policy," especially one that rigidly defines renewable energy sources.

Braden said the language of the proposal does not include, for example, energy efficiency, which she said could be a key component of driving energy production while curbing greenhouse gas emissions.

She also said the governor thinks the amendment would harm both large and small utilities, and force the addition of new generating capacity in a state that has seen production and population decline in a weakened economy.

"There is now 10 percent less people and 10 percent more energy. Do we need another 15 percent even if it isn't driving costs?" she said, citing forecasts for lower demand for investor-owned utility Detroit Edison.

JOBS, JOBS, JOBS

For both sides of the debate, the impact the amendment would have on jobs in a state hit hard by manufacturing job losses has formed the central part of their arguments.

Mark Fisk, the spokesman for the Michigan Energy Michigan Jobs coalition of amendment supporters, said the amendment will give Michigan its best job-creating opportunity in a while.

"If the proposition fails, those jobs will go to other states and other countries," he said.

"We believe that Michigan should become a leader in the clean energy industry with our manufacturing history and know-how. If we don't other states and other countries will be glad to take those jobs and companies."

Jeff Holyfield, a spokesman for investor-owned Consumers Energy, said expanding the RES does not ensure job creation and that Michigan voters should be wary of job creation promises after a slate of recent high-profile job cuts.

Consumers Energy parent CMS Energy and DTE Energy, parent of Detroit Edison, have spent $6.4 million to topple the amendment.

Holyfield cited solar manufacturer Uni-Solar, which had to suspend manufacturing in Greenville, Michigan, and put 400 employees on furlough last year, as well as bankrupt electric car battery maker A123, which laid off Michigan employees last fall.

"Any consideration of expanding the RES should wait until after 2015 and then we can evaluate it," he said, adding that the state should focus ensuring stable baseload electricity capacity from natural gas rather than renewables, which supplies intermittent power.

Holyfield said the vote has less to do with not liking renewable energy and more to do with protecting customers from being locked into a law.

"One of the things that people don't understand is if you have a law and it's not working - you can fix it with the governors' office.

"But if you want to change something in the constitution, you will have to collect signatures."

(Editing by Bob Burgdorfer)

Source: http://news.yahoo.com/michigan-considers-locking-clean-energy-mandate-constitution-230617594.html

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