Risk & Insurance articles from April 2005

Risk & Insurance archives from April 2005

Wise words from Warren.
April 1, 2005... Following the last soft market, CEO after CEO of insurance companies made a solemn vow: Never again would they allow the underwriting process to be subverted. Industry leaders said they would not underwrite risks they couldn't impose...

Alternative risk.(LETTERS TO THE EDITOR)(Letter to the Editor)
April 1, 2005... Dear Editor: I very much enjoyed your column headlined "Toasting the Quiet Players" (Risk & Insurance[R] January 2005, page 11.) I occasionally speak to classes of juniors and seniors at the University of South Carolina's Moore School of...

Workers' compensation.(LETTERS TO THE EDITOR)(Letter to the Editor)
April 1, 2005... Dear Editor: I feel compelled to express to you my appreciation for your column headlined "A Cure for the Fraud Virus" (Risk & Insurance[R] January 2005, page 10). I have been a multistate workers' compensation administrator for many...

MMC settles with NY regulators for $850 million.(NEWS & NOTES)
April 1, 2005... Marsh & McLennan Companies Inc, reached an agreement with the New York State Attorney General and the Superintendent of the New York State Insurance Department, As a result of this agreement, the company will enact transparency reforms and...

Two executives honored by Bermuda Insitute.(NEWS & NOTES)
April 1, 2005... The Bermuda Insurance Institute has selected Anthony Taylor, chairman, president and CEO of Montpelier Re, as its reinsurance person of the year for 2004, Montpelier Re is one of a number of reinsurers set up in Bermuda after the Sept. 11, 2001...

Policyholder wins post-9/11 dispute.(NEWS & NOTES)
April 1, 2005... The U.S. Court of Appeals, Second Circuit has ruled that a policyholder need not own or lease a property to be eligible for business interruption coverage. In Zurich American Insurance Co. v. ABM Industries, Inc., the court concluded that...

SOX costing insurers $1 billion annually.(NEWS & NOTES)
April 1, 2005... Applying new requirements based on the federal Sarbanes-Oxley law to non-public insurers could cost companies and policyholders $1 billion a year or more, according to the Property Casualty Insurers Association of America.

Merger talks between CICA and NRRA collapse.(NEWS & NOTES)
April 1, 2005... The Captive Insurance Companies Association and the National Risk Retention Association have broken off merger discussions. The boards of both organizations called off the talks in February after concluding that joining two different technical,...

Supreme Court rules that law of the sea extends to all stages of a journey, even on land: "mixed contract" doctrine overturned. Experts see rough seas ahead for insurance carriers seeking recoveries from stevedores, railroads, truckers and terminal operators.(Up Front: New, Updates and Other Emerging Strategies from Around the World)
April 1, 2005... General maritime law can prevail at all stages of a journey, on land as well as at sea, the Supreme Court has ruled. That means domestic insurers may be limited in what they can recover for goods lost or damaged in transit. Vincent...

Where the premium dollar goes.(Up Front: New, Updates and Other Emerging Strategies from Around the World)
April 1, 2005... Property/Casualty Insurance, All Line, 2002 Dividends: 0.6 cents Taxes (1): 2.5 cents Sales and Administration: 22.1 cents Claims: 74.8 cents (1) Excluding federal...

Messin' with Texas: the self insurance lobby gears up for a funding fight in the Lone Star State.(UPFRONT)
April 1, 2005... A bill under consideration by Texas lawmakers to change the way the state collects revenues on stop-loss insurance carriers would raise the cost of plans for self-insured employers, according to lobbyists for the self-insurance industry. ...

Bush takes action on entire class of lawsuits: the ink is dry on the Class Action Fairness Act of 2005. Supporters are claiming victory. But some feel even this reform will not mean justice for all.(UPFRONT)
April 1, 2005... After languishing for years in legislative purgatory, the Class Action Fairness Act was swiftly signed into law by President Bush in February. Supporters say the bill is a victory for businesses and consumers as it will end frivolous lawsuits...

Workers' comp privatization law signed: move would cut premiums by 15 percent.(UPFRONT)
April 1, 2005... Employers in West Virginia will see a 15 percent reduction in workers' compensation premiums starting Jan. 1, 2006, under a new bill signed into law by Gov. Joe Manchin. The bill, S.B. 1004, will also privatize the state's system in an effort...

Worth repeating.(UPFRONT)
April 1, 2005... "I'll keep my wisecracks kind of obtuse given today's world." Ramani Ayer, CEO, The Hartford "If you look at the R.O.E.s in our industry it's never been very good. Last year it was a really good year and I think the estimate is 9...

Behold the slogan slugfest.(ALTERNATIVE RISK)
April 1, 2005... Thousands of insurance and reinsuranee companies dot the global landscape. Most are well-heeled and a handful have the economic clout of large countries. All, however, offer essentially the same service, assuming risk and paying claims. How...

10 threads of Huerta's shroud.(WORKERS' COMP)
April 1, 2005... Why are Hispanic workers dying on the job at a rate much higher than other workers? On average, every calendar day marks another Hispanic work-related death that confirms this pattern. There are, it turns out, a crowd of culprits. In 2002...

In the aftermath of 'Brokergate'.(RISK PRIMER)
April 1, 2005... The dust has not yet settled after last fall's lawsuit brought against Marsh by New York's Attorney General Eliot Spitzer. Reactions to the bid-rigging charges and contingent commission revelations have been varied. We have seen the good, the...

Philly in a Phlash: listen up, RIMS delegates. There's no better place to be than at "Dr. Phil's" to remedy a soporific Powerpoint presentation or two.(RIMS PHILLY)
April 1, 2005... Risk management tip No. 1 when in Philadelphia is this: Resist the urge to hit town wearing nothing but a New England Patriots jersey and a great big smile. Enough said. Need some other ideas for ways to have fun in Philly while you're in town...

A reason to risk missing a few sessions: the Phillie Phanatic is saving a seat for you.(RIMS PHILLY)
April 1, 2005... The baseball nuts among you may want to carve out some time for a visit to the Phillies' impressive new home, Citizens Bank Park. The Phils play at home during RIMS, so you have ample opportunity to take in a game. (Monday and Tuesday, they...

Risky? Fugettaboutit: local eatery has offerings you can't refuse.(RIMS PHILLY)
April 1, 2005... Dante & Luigi's is the oldest Italian restaurant in the United States, delighting diners since 1899 with its old world charm, classic Italian specialties, fresh seafood and nightly specials. Just how good is it? So good it's even known as a...

Take a risk: try the chocolate: now this really bugs us.(RIMS PHILLY)
April 1, 2005... You can't make this stuff up. In 1991, the owner of Steve's Bug Off Exterminating Co., Steve Kanya, decided he wanted to "bug" the business owners across the street, who hated insects. So he put a 55-gallon aquarium in his storefront window to...

To take great risk is to tread the path of genius: hello, Dali.(RIMS PHILLY)
April 1, 2005... The Philadelphia Museum of Art is the only American venue that will host Dali, the major centennial retrospective exhibition devoted to Salvador Dali (1904-1989). Dali remains one of the best-known artists of the modern era, due to his...

Could be risky if you do it after lunch: uncover a menagerie of murky medical oddities.(RIMS PHILLY)
April 1, 2005... Think of this as a cross between Dr. Frankenstein's laboratory and the collection of dead odds and ends in Gil Grissom's office on "CSI." The Matter Museum is inhabited by 20,000 "fluid-preserved anatomical and pathological specimens" and...

Pay your respects to the father of risk management: where American history and insurance history collide.(RIMS PHILLY)
April 1, 2005... The final resting place of Benjamin Franklin is a perennial favorite for history buffs of all stripes. Thousands of tourists annually to pay their respects to the bespectacled Ben, and litter his tombstone with pennies for luck, according to...

Some may be risking freaky flashbacks: when you've got a "Jones" for the good stuff.(RIMS PHILLY)
April 1, 2005... If you want to sample one of Philly's hippest new hotspots without paying hip, inflated prices, then a trip to Jones should be on your RIMS itinerary. Jones is the latest themed offering from Philly uberrestauranteur Steven Start. Jones is a...

Risk being seen in a lobster bib.(RIMS PHILLY)
April 1, 2005... Located in historic Old City, Old Original Bookbinder's was established in 1865. The restaurant's proximity to Philadelphia's waterfront and docks assured an abundance of fresh seafood for its early colonial patrons. Over time it has evolved...

Much more fun if you risk going mapless: hip and historic living in harmony.(RIMS PHILLY)
April 1, 2005... If you only have a few hours to get your fill of Philadelphia, then you may want to spend it in Old City, The Old City neighborhood--roughly between Fifth and Front streets--is a unique study in sharp contrasts. Historic landmarks and Colonial...

Hungry for a taste of Philly?(RIMS PHILLY)
April 1, 2005... Ahhh... the great cheesesteak debate. An issue sometimes more divisive than local politics. Pat's, Geno's or Jim's? Cheese Whiz[R] or the real thing? American. Provolone, Mozzarella or all three? Onions? Mushrooms? Chopped steak or sliced? And...

Give in to your inner Philadelphia: cheesesteak fixations welcome.(RIMS PHILLY)
April 1, 2005... If you develop a cheesesteak addiction, you're in luck: "A Taste of Philadelphia" delivers fresh cheesesteaks nationwide, Homesick Philadelphians and other fans of local flavor can order cheesesteaks, hoagies, soft pretzels, Tastycakes and...

You'll be there in a Phlash.(RIMS PHILLY)
April 1, 2005... Getting around downtown is a cinch, thanks to The Phlash--the unmistakable purple trolley that is the quickest and easiest connection between Center City attractions and most downtown hotels. The Phlash makes a continuous loop through 18 key...

Risk be a lady tonight: something for everyone and then some.(RIMS PHILLY)
April 1, 2005... If your idea of fun has more to do with Blackjack than with Betsy Ross, gas up your rental ear and make the short drive to Atlantic City for a visit to the Borgata, the extravagant offspring of a partnership between Boyd Gaming Corp. and MGM...

Risk tip: look, don't touch: feast your eyes on treasures of the ancients.(RIMS PHILLY)
April 1, 2005... Extravagant jewelry of gold, lapis-lazuli and carnelian, cups of gold and silver, bowls of alabaster, and extraordinary objects of art and culture were among the Mesopotamian treasures uncovered in the late 1920s by British archaeologist C....

What many still risk all for.(RIMS PHILLY)
April 1, 2005... One of Philly's more recent additions, the National Constitution Center's dedicated to educating visitors about one role of this vital, "living document," The one-of-a-Kind interactive exhibit experience will take you through important events...

A slice of risk and insurance management history: see it before it's gone.(RIMS PHILLY)
April 1, 2005... In November, Cigna Corp. announced it would be donating and selling off the lion's share of its collections of art and historical artifacts, but you can still see it all while you're intown for RIMS. The collections nave evolved over the years...

The specialist: Kenneth J. LeStrange, CEO of Endurance Specialty Insurance Ltd., one of the Bermuda startups formed in the wake of Sept. 11, to inject new capital into the marketplace, anchors his business model in specialty lines of business.(Cover Story)
April 1, 2005... Ambling around Hamilton, the pastel-colored capital of Bermuda, you'd be hard-pressed not to run into Kenneth 3. LeStrange, a smart, cerebral, middle-aged man who favors dark suits and light shirts. He is a thoroughly down-to-earth soul...

Employers seeing the link between healthy employees and a healthy bottom line.(Advertorial)(Advertisement)
April 1, 2005... It's a realization that's sweeping across America, from national corporate headquarters to local family-owned businesses. The health plans that bring the most value are the ones that do what they're supposed to do. Namely, help keep employees...

An analysis of arrogance: in the opinion of one writer, the reckless and blatant disregard for accountability on the part of the State Compensation Insurance Fund of California has cost employers billions of dollars in premiums.(WORKERS' COMP/COMMENTARY)
April 1, 2005... The largest workers' compensation insurer in the world, the State Compensation Insurance Fund of California, does not appear on many published insurer lists. If it did, SCIF and its cousins in New York, Ohio and Washington would be among the...

Fitting funds into four groups: a writer takes a stab at anchoring billion-dollar state funds with labels and finds that they fit into four broad categories.(WORKERS' COMP/COMMENTARY)
April 1, 2005... State-sponsored workers' compensation insurers fall into one of four categories that we'll label "monopolists," "formers," "temps" and "permanents." Monopolist funds embody a model popular in the 1910s and 1920s in the United States and...

Striking a balance: case managers are key players in helping self-insured employers strike a balance between staying connected to their employees and improving the productivity of workers.(BENEFITS)
April 1, 2005... Self-insured employers face a difficult balancing act when it comes to providing benefits for employees. On the one side, a self-insured employer may feel a close connection to its workers and want to provide the best possible care for them....

Health insurance law delivers new complications: just when the medico-insurance community was adjusting to the complexities of the federal law known as the Health Insurance Portability and Accountability Act, here comes news of yet another complication. This time it comes in the form of mundane electronic claims attachments.(TECHNOLOGY)
April 1, 2005... For the past few years, claims payors such as insurance carriers, claims administrators and third-party administrators, and health care providers such as doctors and physicians groups, have been working to make their systems HIPAA compliant....

Talkin' term limits: insurers--smarting from past losses--are showing an increasing amount of restraint in underwriting environmental risks. Buyers can expect shorter terms and more fine print in the terms and conditions. Science and societal pressures are partly to blame.(SPECIAL REPORT: ENVIRONMENTAL RISKS)
April 1, 2005... As they navigate the underwriting hazards of a young line of insurance--constantly under fire from the latest scientific findings and newly minted government regulations--insurers are slowly but surely pulling back the policy periods for their...

Blazing a trail.(SPECIAL REPORT: ENVIRONMENTAL RISKS)(Interview)
April 1, 2005... In the field of environmental insurance, AIG was a trailblazer. Tom Slattery, a regular contributor to Risk & Insurance[R], interviewed four executives of AIG Environmental to discuss its history and development. Participating were Joe Boren,...

Attending to a capital matter: having successfully lobbied Congress in the wake of the Sept. 11, 2001, attacks to provide backing in the event of catastrophic property damage, the nation's real estate lobbies hope they can extend the backstop for another two years to satisfy the requirements of lenders.(INDUSTRY RISK REPORT: REITS AND REAL ESTATE)
April 1, 2005... For real estate interests this year, pushing Congress to renew the Terrorism Risk Insurance Act is the public policy question--no question about it. If Congress renews the law, real estate will benefit from borrowing at better interest...

TPA buyers' guide.(Directory)
April 1, 2005... Below are paid listings of third-party administrators (TPAs) according to the types of claims they handle: health care; disability; workers' comp; managed care automation; software automation; property; marine/aviation; professional liability;...

BISYS.(EXECUTIVE MOVES)
April 1, 2005... DANIEL MANNIELLO has been named vice president of business development for the fund services division of BISYS. Prior to joining BISYS, Manniello served as vice president and relationship manager for The Bank of New York, where he was...

The Frank Gates Companies.(EXECUTIVE MOVES)
April 1, 2005... ROBINSON M. OVERLY has been promoted to president of The Frank Gates Companies. Most recently, Overly served as executive vice president and director of operations for the company's western region. He has been with Frank Gates since 1967 and...

Selective Insurance Group Inc.(EXECUTIVE MOVES)
April 1, 2005... KERRY GUTHRIE has been named executive vice president and chief investment officer of Selective Insurance Group Inc., and Selective Insurance. An investment analyst when he first joined Selective in 1987, Guthrie was named assistant vice...

Guy Carpenter & Co. Inc.(EXECUTIVE MOVES)
April 1, 2005... MICHELLE HARNICK has been appointed to lead the structured risk specialty practice of Guy Carpenter & Co. Inc., part of the Marsh & McLennan group of companies. Prior to joining Guy Carpenter in 2000, Harnick was an associate director and...

Captive Insurance Companies Association.(EXECUTIVE MOVES)
April 1, 2005... DENNIS P. HARWICK has been named president of the Captive Insurance Companies Association. Harwick is an experienced administrator, having served as executive director of the Washington State, Idaho, and Kansas bar associations. He has also...

Upcoming events.(Calendar)
April 1, 2005... MAY 22-24 ACORD-LOMA Insurance Systems Forum The 2005 ACORD LOMA Insurance Systems Forum, titled "Achieve," will deliver strategies For business growth as the complexities of business continue to escalate. The conference will be...

A call to leadership.
April 15, 2005... The Risk and Insurance Management Society Inc.'s annual convention begins in a few days here in Philly. To insurance execs, risk execs and brokers, we'd like to welcome you to Risk & Insurance's home town. We hear attendance may break records....

Workers' comp.(LETTERS TO THE EDITOR)(Letter to the Editor)
April 15, 2005... Dear Editor: Your column "The Inside-Outside Story," (Risk & Insurance[R] December 2004, page 16) connected well with a workers' comp rate assessment and determination project I'm currently performing for Oklahoma workers' comp. Our...

Agents/brokers.(LETTERS TO THE EDITOR)(Letter to the Editor)
April 15, 2005... Dear Editor: Your article, "Small Brokers Seared of Getting Whacked," (Risk & Insurance[R], January 2005, page 19) may have left some incorrect impressions. First, the description of bonuses that insurance companies pay to small...

Aon to pay $190 million settlement.(NEWS & NOTES)
April 15, 2005... In a settlement with New York Attorney General Eliot Spitzer and officials in Connecticut and Illinois, Aon Corp. agreed to pay $190 million over a 30-month period, as restitution to policy-holders. The agreement will settle charges that the...

Rebuilding effort seeks support.(NEWS & NOTES)
April 15, 2005... The captives industry is funding a rebuilding effort in the Cayman Islands. CRICO, the Harvard Medical Institutions Captive, and the Insurance Managers Association of the Cayman Islands have established a fund to aid in the rebuilding effort...

MetLife acquires Citigroup business.(NEWS & NOTES)
April 15, 2005... MetLife has reached an agreement with Citigroup to purchase Citigroup's Travelers Life and Annuity Co. and Citi International Holdings for $11.5 billion. The deal adds $96 billion in total assets and $5.2 billion in total revenue to MetLife's...

North Carolina wants AIG probe.(NEWS & NOTES)
April 15, 2005... North Carolina State Treasurer Richard Moore has asked the U.S. Securities and Exchange Commission to investigate dealings between insurer AIG and its Starr units for possible conflicts of interest. Moore is the overseer of a $65 billion public...

The Hartford honored.(NEWS & NOTES)
April 15, 2005... The Hartford Financial Services Group Inc. has earned the Business and Aging Award from the American Society on Aging. In naming the company its "Business of the Year," the San Francisco-based nonprofit cited The Hartford's pioneering work in...

Terrorist planning report leaked to public: the White House is taking steps to better manage the risks associated with potential terrorist attacks. But it apparently still has a long way to go managing internal document security.(UPFRONT: News, Updates and Other Emerging Strategies from Around the World)
April 15, 2005... The Department of Homeland Security has drawn up an extensive report outlining the top 12 potential terrorist attack scenarios, including estimated death tolls and economic losses. The confidential report will not be made public for several...

Worksite life insurance sales by line of business in 2002 and 2003 (1).(UPFRONT: News, Updates and Other Emerging Strategies from Around the World)
April 15, 2005... 2002 2003 Long-term care 2% 2% Hospital Indemnity/ Medical supplement plans 5% 7% Dental 13% 11% Cancer/ Critical Illness ...

Report: insurers expected to emerge unscathed from tsunami: despite the "light" cat losses from tidal wave, 2004 a record-breaking year.(UPFRONT)
April 15, 2005... Because so few people and businesses in the areas affected by the December tidal waves were insured, the insurance industry is not expected to take much of a hit in terms of insurance payouts, according to a new report. Nonlife premiums in...

SOX-era coverage tough to come by: D&O liabilities have increased with the Sarbanes-Oxley Act; just about every corporate director and officer knows that. But what they perhaps didn't expect was the difficulty of finding carriers to come up with policies to deal with the requirements of the sweeping federal law.(UPFRONT)
April 15, 2005... Insured parties, especially boards of directors who usually go without direct compensation, have even had to look at overseas markets to find the proper insurance. "There are a lot of new hoops to jump through, but the type of claim and...

Worth repeating.(UPFRONT)
April 15, 2005... "Of course the best security is when nothing happens, but that makes it even harder to figure out how much money to spend." Bryan Ware, CEO, Digital Sandbox "I hire the best and expect that from them." Robert Morrell, chief...

Educating Roger.(ALTERNATIVE RISK)
April 15, 2005... Young people have an advantage over the rest of us: they know everything. At least I did. Or thought I did. I knew how to drive in short straight lines by the age of 12, for example. I could hit 30 miles an hour in my parents' little driveway...

A painful circus.(WORKERS' COMP)
April 15, 2005... In November 2000, a mental health patient assaulted a 35-year-old California social worker. This is her story of descent into chronic pain hell and her recovery, if not to heaven, then at least to purgatory. This real ease, disguised here using...

Charting a new course.(THE LAW)
April 15, 2005... Terrorism fears have officially washed over the maritime industry, with the Maritime Transportation Security Act governing the behavior and procedures for vessels and port facilities alike. Risk managers need to set a course that takes into...

Common cents: a primer.(RISK PRIMER)
April 15, 2005... When insurance buyers look for cost reductions, they often focus on bidding or greater risk retention to achieve their goal. These cost-reduction efforts are usually made at renewal time, but astute insurance buyers can continue to achieve...

Seduced by Stardom.(COVER STORY)
April 15, 2005... As the economy improves, consumer demand for entertainment is rising again, and with it the risk that entertainment industry insurers will be lured into putting premiums on the books. With entertainment giants preparing to launch an array of...

Insuring the flesh.(COVER STORY)
April 15, 2005... Did Jennifer Lopez really insure her most famous asset? Ask the man who underwrites celebrity body parts coverage for Lloyd's of London. Jonathan Thomas talks candidly with Risk & Insurance[R] about his high-profile clientele and how he decides...

An upstart steals the show: how did ASU International's new film venture outfox Hollywood underwriting giant Fireman's Fund Insurance Co. and steal an account worth millions? The right people, the right paper--and some exceptionally good timing.
April 15, 2005... It's hard to imagine that underwriting in the much-watched entertainment category of major feature films has changed dramatically in the short span of four months since the first of the year. But it has. The biggest buzz in that sector...

Dodging the crossfire: as media platforms expand in scope and complexity, so do the new challenges falling on the shoulders of risk executives in the entertainment industry. Exposure to errors and omissions liability is high, and getting higher. Fortunately, E&O products are changing with the times.
April 15, 2005... If you'd pulled a Rip Van Winkle over the past few years and just awakened to the land of media and entertainment errors and omission coverage, you'd be encountering a brave new world. "I don't think there's any doubt in this age of media...

Oops, insurance carriers did it again: eight carriers get a taste of pop tart Britney Spears who is suing them because they rejected a claim in excess of $9.8 million she filed after injuring her knee during a video shoot during her "Onyx Hotel Tour." It was the second time she had been issued a policy despite a widely publicized prior injury.(Cover Story)
April 15, 2005... If the eight British and European insurers sued by Britney Spears don't know the reputation of the star performer's New York lead attorney, they probably don't want to--unless it's to encourage them to significantly buttress their defenses. ...

Bright lights, big risks: for hot entertainers and other types of celebrities, media exposure is desirable, but other kinds of exposure are not. Hence the need for a unique breed of financial "bodyguard"--agents who tend to the specialized financial and insurance needs of the stars, both business and personal.
April 15, 2005... Howard Altman sounds like a bodyguard for the host of celebrities, entertainers and high-net-worth individuals who employ him. And, in a way, he is. "They're always a target," says Altman, a partner at Beverly Hills-based Grant, Tani,...

Employers seeing the link between healthy employees and a healthy bottom line.(Advertorial)(Advertisement)
April 15, 2005... It's a realization that's sweeping across America, from national corporate headquarters to local family-owned businesses. The health plans that bring the most value are the ones that do what they're supposed to do. Namely, help keep employees...

Old, wiser, and on the job: the current workforce is brimming with baby boomers and many of them are postponing retirement, either by choice or by circumstance. This is a boon for employers in terms of retaining skilled and experienced workers, but with that boon comes a unique set of risk management challenges that must be addressed.(BENEFITS)
April 15, 2005... Age 55 no longer means retirement is on the horizon. From the recent downturn in the stock market, which has taken a bite out of many people's 401(k) retirement savings, to the prospect of living longer, people are staying in the workforce...

The numbers game begins to shift.(BENEFITS)
April 15, 2005... Beginning later in this decade, the retirement of the baby boomer generation may usher in a worker shortage. How employers prepare for and respond to it may have a lot to do with their future success. "The first baby boomers will start...

A Wisconsin firm braces for impact.(BENEFITS)
April 15, 2005... One company trying to get ahead in terms of the coming workforce shortage is CNH Global, the international manufacturer of construction and agricultural equipment. The Racine, Wis.-based firm, has a global workforce of about 25,000, of...

This manager has no plans to retire.(BENEFITS)
April 15, 2005... Don't talk to Kenneth A. Burke about retiring at 65. It's not in his plans. "I am very healthy," says the 58-year-old human resources project manager for Clark Consulting in Dallas. "I have intellectual curiosity and I don't foresee myself...

Guessing game jitters: as companies cut costs and boost productivity by using complex inventory management techniques, they may be unwittingly putting themselves at risk for a property loss--their own, or that of a key supplier. This murky pool of unknown and unknowable risk is giving underwriters a bad case of the jitters.(CONTINGENT BUSINESS INTERRUPTION)
April 15, 2005... The only sure thing about underwriting contingent business interruption risks in today's fast-paced business climate is that it's all about unknowns. And in a global economy with heightened productivity demands, more frequent outsourcing...

At long last, credit insurance gets its due.(INSURANCE)
April 15, 2005... Historically, U.S. companies tended to purchase credit insurance when the economy was weak to gird themselves against the risk of a customer going bankrupt. In the midst of a stronger economy, however, companies still see value in credit...

Smells like team spirit: by establishing "central risk teams," Caesars Entertainment has developed a strategy for accountability at the management level. These teams, headed by a chief risk professional, enable internal auditors to coordinate and work cohesively with the legal and accounting departments.(RISK MANAGEMENT)
April 15, 2005... For many companies, enterprise risk management is an almost academic sounding idea. But for us, it's much more real. We call it the "You catch and I clean" approach. The internal audit department catches a problem, and the risk management...

Profiles in security: a high-tech risk management software application used only by government agencies so far can help public entities and private companies better protect themselves from catastrophic losses in the event of a terrorist attack. Ideal for use by cities, it also shows promise as a tool for protecting any property.(TECHNOLOGY)
April 15, 2005... In February 2004, the Tampa Police Department faced a risk management challenge, one that required pre-event security assessments, security planning and event security management for 300,000 visitors descending on the city. In short, Tampa...

Born to write code: it's a story straight out of Silicon Valley: A 5-year-old boy begins programming; gets a job writing code in high school; starts up a software company in college; secures venture capital funding and then turns an industry on its head. In Robert Morrell's case, the startup took root in Georgia, and risk management information technology will never be the same.(PROFILE)
April 15, 2005... Robert Morrell, chief technology officer at Aon Risk Laboratories, found his calling early in life--when he was just five years old to be exact. Some people learn to read with The Cat in the Hat, or Fun with Dick and Jane; Morrell learned his...

A wicked strain: the projected number of U.S. deaths as a result of an influenza pandemic is more than 1.7 million over an 18-month period. Nearly half of those victims will be between the ages of 15 and 44. The Centers for Disease Control and Prevention estimate the economic impact to the United States at $71.3 billion to $166.5 billion.(SPECIAL REPORT: CATASTROPHIC RISKS)
April 15, 2005... Since 1580, there have been 31 instances where new influenza viruses have emerged from their natural reservoir--wild aquatic birds--and through genetic reassortment in intermediary hosts such as pigs, have "jumped" to human populations with...