News Details

WATERBURY, Conn.--(BUSINESS WIRE)--March 17, 2003--Webster Insurance, a wholly-owned subsidiary of Webster Financial Corporation (NYSE: WBS), announced today its agreement with ConnectiCare, Inc. to jointly market SelectPlus, a new health care program for Connecticut's small businesses.

The new program offers health plan options with savings up to 30 percent against traditional HMO plans and value-added benefits not typically available to Connecticut companies with fifty or fewer employees.

"Webster Insurance is pleased to partner with ConnectiCare in an arrangement that will provide attractive benefits to a valued and growing force in Connecticut's economy", stated Webster Insurance president and chief executive officer, John Queirolo. "At a time when many companies are reducing or eliminating employee benefits, SelectPlus actually expands a company's benefits package without increasing costs."

The program's value-added benefits include life/work services, member discounts on health and wellness products and services, business protection, financial services and a free online newsletter. Webster Insurance, the state's largest independent insurance agency, is the exclusive seller of this program.

"ConnectiCare is delighted to join with Webster Insurance on this initiative," stated Paul Philpott, senior vice president and chief marketing officer, ConnectiCare. "SelectPlus will offer many more options for small businesses and simultaneously address the issue of affordability."

Webster Insurance agents will utilize web-based technology to provide each potential SelectPlus customer with the program's comparative plan designs, benefits, price points and quotes.

ConnectiCare is an independent Connecticut-based managed care company serving nearly 280,000 members through its HMO affiliates, ConnectiCare, Inc., ConnectiCare of Massachusetts, Inc., and ConnectiCare Insurance Company, Inc. ConnectiCare, Inc. holds an "Excellent" Accreditation rating from the National Committee for Quality Assurance (NCQA) for its commercial employer group plan. ConnectiCare has been ranked the Highest in Overall Member Satisfaction Among HMO Plans in Connecticut by J.D. Powers and Associates as part of their 2001 Commercial Managed Care Satisfaction Study. For more information on ConnectiCare visit www.connecticare.com.

Webster Insurance is headquartered in Wallingford, CT.

Webster Financial Corporation is the holding company for Webster Bank and Webster Insurance. With $13 billion in assets, Connecticut-based Webster Bank provides business and consumer banking, mortgage, insurance, trust and investment services through 110 banking offices, 210 ATMs and the Internet. Webster Financial Corporation is majority owner of Chicago-based Duff & Phelps, LLC, a leader in financial advisory services. Webster Bank owns the asset-based lending firm, Whitehall Business Credit Corporation, Center Capital Corporation, an equipment financing company headquartered in Farmington, Connecticut and Webster Trust Company, N.A.

For more information about Webster, including past press releases and the latest Annual Report, visit the Webster website at www.websteronline.com.