Risk & Insurance articles from January 2008

Risk & Insurance archives from January 2008

No running mates in 2008.
January 1, 2008... Insurance has fewer friends than ever in Washington. Even Republicans don't have the industry's back. President Bush threatened to veto the new TRIA. And the likes of Sen. Trent Lott have stabbed the industry with accusations, portraying it in...

In deeper on the WTC.(LETTERS TO THE EDITOR)(Letter to the editor)
January 1, 2008... Dear Editor, Part two of your series on the World Trade Center disaster, "The Disease Within" (Risk & Insurance[R], Oct. 1, 2007), states that almost half of WTC claims at some point in 2004 were not yet processed. In fact, the N.Y....

Offshore captives keeping quiet.(ALT RISK)
January 1, 2008... If offshore domiciles think they're off the hook with this latest IRS proposal to change how captives get taxed, said one trade official, they haven't read the U.S. tax code lately. The only domiciles that Uncle Sam can't touch are those that...

Clapping for Cayman.(ALT RISK)
January 1, 2008... "We've always punched above our weight class," said Dan MacLean, chairman of the Insurance Managers' Association of Cayman, before a Ritz ballroom packed with captive owners, vendors, lawyers, brokers, and the rest of the 850 attendees at the...

The big 2's outlooks.(AVIATION)
January 1, 2008... Boeing and Airbus dominate the airplane business, but where will they be in 10, 20 years? See what they think in their market forecasts and outlooks. To access these resources, please visit www.riskandinsurance.com/story....

More on E2open.(AVIATION)
January 1, 2008... Manufacturers have to make sure that the right information gets to their suppliers and their suppliers' supplier, all the way down the chain. One way is through an Internet hub called E2open. To access this resource, please visit...

Deconstructing the defense.(ASBESTOS)
January 1, 2008... To defend against an asbestos claim, most lawyers follow a simple formula to provide a "cost-effective defense." Beware! To read the rest of this piece, please visit www.riskandinsurance.com/story. jsp?storyId=55679995

Subprime contagion concerns.(D&O)
January 1, 2008... Several insurers revealed the impact of subprime lending and mortgage-linked securities on their third-quarter earnings. To access this resource, please visit www.riskandinsurance.com/story. jsp?storyId=55681763

Managing risk, Hollywood style.(ROCKY)
January 1, 2008... Rocky Armfield is risk manager for L.A. County, a community of nearly 10 million citizens, 110,000 employees and a $21 billion budget. How is his job possible in such a big (and glamorous) place? See the county's annual risk management report....

Middle ground elusive: big rift underscores divide in comp claims management.(UPFRONT: News, Updates and Other Emerging Strategies from Around the World)
January 1, 2008... Workers' compensation and disability managers at the 16th Annual Workers' Compensation and Disability Conference[R] & Expo hoping to mend the schism between people and technology in the resolution of workers' comp claims came away empty-handed....

The alternative markets are upon us: Csiszar: Chicago's alternative finance empire will rule insurance.(UPFRONT: News, Updates and Other Emerging Strategies from Around the World)
January 1, 2008... Pearl Jam and Nirvana were "alternative" rock bands in the early 1990s, but their music, as emulated by countless groups today, is now mainstream. Such is the ease with alternative risk transfer. "It really isn't the alternative market...

U.S. stalls on patient safety: ASHRM committee chairman reports little progress on implementation of federal law.(UPFRONT: News, Updates and Other Emerging Strategies from Around the World)
January 1, 2008... Voluntary reporting of medical errors, although lauded by healthcare risk managers and industry watchdogs as a panacea for keeping medical-malpractice premiums under control, is still being held captive by a crazy quilt of policies and...

Survey: ERM interest spikes among healthcare risk managers: the growing number of older workers and retirees, along with the 2008 elections, are seen as reasons for ERM interest among healthcare companies.(UPFRONT: News, Updates and Other Emerging Strategies from Around the World)
January 1, 2008... Risk managers in the healthcare and the professional-services sectors appear to be the most receptive patients for an enterprise risk management operation in the two-year period from 2004 to 2006, according to a new survey released by the...

The last great gentleman: the celebrated life of HRH founder Alvin Rogal featured a thirst for the exotic, a commitment to philanthropy in Pittsburgh, a fierce loyalty to longtime clients and friends, and a love of the game.(BROKERS: People, Ideas and Trends shaping the Brokerage Community)
January 1, 2008... [ILLUSTRATION OMITTED] There are influential people in the business world who accumulate their millions and retire to beachfront property when they're still considered middle-aged, occasionally returning to the big cities to speak at an...

Beecher Carlson.(BROKER MOVES)
January 1, 2008... [ILLUSTRATIONS OMITTED] Beecher Carlson hired KYLE STRAND as senior vice president and RICK CRAIG as senior vice president and head of the firm's National Environmental Practice in San Francisco. Prior to joining Beecher Carlson, both men...

Willis Group Holdings.(BROKER MOVES)
January 1, 2008... [ILLUSTRATION OMITTED] Willis Group Holdings hired EUGENIO PASCHOAL as CEO of Latin America. Paschoal has spent the last 10 years heading Willis Eugenio Paschoal Brazil. He replaced Jose Ribeiro, who left Willis earlier this year for a...

Lockton expanded its New York brokerage team with the addition of Kenneth Mckenna as senior vice president of the Employee Benefits Practice and SUSAN JOHNSON as vice president for the Property Insurance Practice.(BROKER MOVES)
January 1, 2008... Lockton expanded its New York brokerage team with the addition of KENNETH MCKENNA as senior vice president of the Employee Benefits Practice and SUSAN JOHNSON as vice president for the Property Insurance Practice. Prior to joining Lockton,...

Eddie Monteith joined Lockton's Houston office after leaving his position as senior vice president in Marsh's FinPro practice.(BROKER MOVES)
January 1, 2008... EDDIE MONTEITH joined Lockton's Houston office after leaving his position as senior vice president in Marsh's FinPro practice. Monteith is a senior vice president in Lockton's financial services specialty team. Lockton has also appointed FRANK...

Lockton International.(BROKER MOVES)
January 1, 2008... Lockton International appointed DUNCAN URQUHART as managing director of its International Construction team, based in London. He is the former head of the construction and power team at Oxygen.

U.S. Risk Brokers.(BROKER MOVES)
January 1, 2008... [ILLUSTRATION OMITTED] U.S. Risk Brokers, a California brokerage subsidiary of managing general agency U.S. Risk Insurance Group, hired JOAN EDWARDS as Joan Edwards branch manager and CHRIS RAMOS as senior underwriter in the firm's Oakland...

What do risk managers want?(WORKERS' COMP)
January 1, 2008... How do risk managers analyze workers' compensation? I thought I would answer that question by visiting with two teams in the Chicago office of Marsh, the giant risk advisor. One team works in its software unit, CS Stars, and with its flagship...

DWENA dread.(ROGER ON RISK)
January 1, 2008... A newspaper reports that people take an average of 17 minutes to decide on buying a home. They then spend an average of 54 minutes choosing drapes. That has the ring of truth. Not long ago, I bought an apartment, easily the biggest...

Business looks beyond Bush.(BROKERAGE)
January 1, 2008... As always, the start of a new year is a time for reflection on the events of the past year and of those yet to come. It's time to turn the page and to begin seriously addressing those rosy resolutions you adopted for 2008--like read and...

Dangers of a long-term view.(RISK MANAGEMENT)
January 1, 2008... It is currently in vogue for companies to eschew quarterly guidance to stay focused on long-term goals. Focusing on quarterly guidance, they say, takes time and attention away from longer-term goals. In theory, this is a good plan, but often...

Deal--or no deal.(THE LAW)
January 1, 2008... Having recently heard arguments in Hall Street v. Mattel, the U.S. Supreme Court is poised to decide the most important ease in years involving private arbitration. The issue: whether companies can agree to judicial review of arbitration awards...

The Western way: Rocky Armfield survives the halls of power in Los Angeles County with a cool demeanor and straight talk.(Cover story)
January 1, 2008... [ILLUSTRATION OMITTED] It's a long way from Casper, Wyo., to Los Angeles. Sure, it's more than a thousand miles as the western raven flies, but the two places are even further apart in terms of their demographics. Natrona County, where...

Will the liability market turn? The great subprime lending meltdown of 2007 will make life in 2008 a little more difficult for excess professional liability carriers. But will lawsuits be serious enough to turn the market?(D&O)
January 1, 2008... [ILLUSTRATION OMITTED] Summary * One expert says premiums of professional liability coverage may level off after several years of softening because of the subprime mortgage meltdown. * The legal costs related to the sorting out of...

Lighting a fire: at 60, Bermuda rightly deserves a place in the insurance and reinsurance pantheon, but the island has changed, as have markets and the world around it. Yet the "Bermuda Model" proves it has the legs to compete with younger domiciles, especially when it comes to generating catastrophe capacity.(IN-DEPTH)(Company overview)
January 1, 2008... [ILLUSTRATION OMITTED] Summary * Ivar Kreuger, the "Match King," lit the fire of Bermuda's beginnings, when the island's second exempted company, one formed to collect Kreugar's far-flung assets after his suicide, caught the attention...

Can captives unite against the man? An IRS tax proposal threatens to quash onshore domiciles. The industry tries to overcome differences and fight it.(ALTERNATIVE RISK)
January 1, 2008... [ILLUSTRATION OMITTED] Summary * The IRS surprised the captive industry with proposed changes to taxes that would prohibit many onshore (and some offshore) captives from deducting discounted loss reserves. * The industry responded...

Risks made in China: manufacturers love China because the Chinese make products more cheaply than just about anyone else. But the past 18 months have been difficult and expensive for several U.S. manufacturers that have faced big product recalls.(SPECIAL REPORT: LIABILITY)
January 1, 2008... [ILLUSTRATION OMITTED] Summary * The recent past has been very expensive for some U.S. companies doing business in China, like Foreign Tire Sales Inc. and Mattel Inc. Both have suffered from product recalls because of poorly made...

On the trail of risks with a long tail: a repository of asbestos data with information dating back to 1997, now available, can help monitor and analyze claims.(SPECIAL REPORT: LIABILITY)
January 1, 2008... [ILLUSTRATION OMITTED] Summary * An asbestos claims database provides insurance carriers and their insured clients with advantages that include: * Assessing a company's asbestos exposure. * Determining the number of claims filed...

Supply-side turbulence rattles aircraft manufacturers: with parts arriving from all corners of the globe, aerospace manufacturers now have to coordinate massive amounts of information through all levels of the supply chain, even if that means managing risk for their suppliers.(INDUSTRY RISK REPORT: AEROSPACE)
January 1, 2008... [ILLUSTRATION OMITTED] Summary * The world's two largest commercial aircraft makers have had to delay the introduction of their latest products by months or years due to problems with suppliers. * Aircraft manufacturers are...

Industry risk report: aerospace.
January 1, 2008... INDUSTRY RISK REPORT AEROSPACE Many companies are dependent on the U.S. government for revenue, which is a blessing and a curse. When the U.S. goes to war; the stocks of defense contractors rise as the Pentagon looks to replace hardware....

Directory: insurance company software.(Directory)
January 1, 2008... DIRECTORY INSURANCE COMPANY SOFTWARE Below are paid listings of specialty software packages for insurance companies, risk managers and brokers. This guide is not intended to be a complete directory but is an overview of some of the...

Upcoming events.(Calendar)
January 1, 2008... 20-23 NAPSLO Workshop The National Association of Professional Surplus Lines Offices' 2008 Mid-Year Educational Workshop will be held at the Fairmont Princess Resort in Scottsdale, Ariz. For more information: NAPSLO,...

Wellness and disability: a needed savior: long live employee wellness programs, and the employees and corporations that benefit from them.(POINT)
January 1, 2008... Any health-minded person who has ever walked into a workplace kitchenette and been confronted with a platter of bagels or doughnuts placed there by a well-meaning co-worker has to have asked: "Why aren't we putting two and two together and...

Wellness and disability: a drain on profits: the time has come for companies to ditch their costly and coddling wellness and disability programs.(COUNTERPOINT)
January 1, 2008... Why is it that corporations take it upon themselves to do everything, everything for their employees? After World War II, companies--the good ones at least--thought nothing of footing the education bill for promising workers and managers. ...