LexisNexis Unveils Innovative Insurance Compliance Solution; Helping Insurance Companies Stay in Regulatory Compliance to Avoid Billions in Fines

"Insurers are paying millions in penalties and sufferingsignificant productivity losses due to compliance related activities.These potential financial impacts combined with the number ofdifferent sources needed to understand and ensure compliance droveLexisNexis to build the singular compliance solution for the insuranceindustry," said Darrell Huntsman, vice president and managing directorat LexisNexis. "Bringing together legal and regulatory resources withcustom innovations and industry expertise, we're working with ourcustomers to remove the guesswork from regulatory compliance."

LexisNexis Insurance Compliance empowers compliance professionals,at every level, to respond effectively to the challenges in anexpanding and changing regulatory environment across all 50 states andterritories. That means offering more than the best sources--it meansintegrating those sources with analysis and insight that helps today'sinsurance companies understand how to comply with rapidly changinglegal developments.

Bringing together innovative information technologies, industryexpertise, and the most comprehensive content collection, LexisNexisInsurance Compliance brings insurance companies a combination ofadvantages unavailable anywhere else.

-- Compliance Index: A new domain-specific compliance index that ties together seemingly disparate concepts across jurisdictions so that compliance users can find what they need quickly and easily.

-- Expert Insights: To understand how to respond to legal developments, summaries and highlighted actions are available to help users see and respond to critical compliance issues.

-- Advisory Board: A professionally-diverse Advisory Board consisting of prestigious regulatory practice attorneys, prominent current and former insurance regulators and distinguished insurance executives was established to address the compliance needs of insurance companies.

-- Expert Blog: Whether through insights into regulatory changes or discussions on the most perplexing compliance issues, insurers can review or participate in Advisory Board discussions through a subscriber-only blog.

While the direct costs of non-compliance are staggering, theindirect costs are equally damaging. Bad publicity, class-actionlitigation, and the reaction of the financial markets can be nothingshort of catastrophic for individual companies and have a far-reachingimpact for the entire industry.

"LexisNexis Insurance Compliance gives insurers confidence thattheir teams can understand the constantly changing rules andregulations. Our solution delivers legal developments and context, aswell as real-time discussions by industry experts on developments thatwill affect a company's ability to comply," said Molly Miller,director of Insurance Product Strategy. "We essentially bring expertsto the desks of insurance compliance professionals trying to do highpressure work on deadline, every day."

Last week, LexisNexis announced alliance relationships withCorpedia and Compliance 360 to help general counsel and chiefcompliance officers protect their companies from the risks ofviolating changing laws and regulations. These relationships combinedwith LexisNexis Insurance Compliance make LexisNexis a leadingprovider of information and solutions for companies seeking to respondto today's dynamic compliance environment.

For more information on LexisNexis Insurance Compliance, visithttp://www.lexisnexis.com/experts.

About LexisNexis

LexisNexis(R) (www.lexisnexis.com) is a leading provider ofinformation and services solutions, including its flagship Web-basedLexis(R) and Nexis(R) research services, to a wide range ofprofessionals in the legal, risk management, corporate, government,law enforcement, accounting and academic markets. A member of ReedElsevier Group plc (NYSE: ENL; NYSE: RUK) (www.reedelsevier.com), thecompany does business in 100 countries with 13,000 employeesworldwide.