Risk & Insurance articles from May 2003

Risk & Insurance archives from May 2003

RIMS goes global. (Up Front).
May 1, 2003... As the 41st Annual RIMS Conference & Exhibition took shape in Chicago, risk managers were coming to the show with bigger concerns than corporate governance, terrorism risk or even exposures related to war. As one risk manager put it, "Due...

Correction.
May 1, 2003... In the April 1 edition of Risk & Insurance in the article about the changing role of risk managers, Lance Ewing, the executive director of risk management for Park Place Entertainment, was mistakenly identified as having previously worked for...

AHPs again an alternative to rising health costs. (Up Front).
May 1, 2003... With control of skyrocketing health care costs once again topping the benefits agenda for businesses large and small, are association health plans an idea whose time has finally come? Bush administration officials and some backers in...

Worker's Comp Report Card.
May 1, 2003... Worker's Comp Report Card RISK STATS A recent study shows that when it comes to preventing injuries and returning workers to health and productivity, states are all over the map. Six factors were used to grade the states. WC...

Hope on the horizon? (Up Front).
May 1, 2003... The most significant development at the annual Risk and Insurance Management Society convention in Chicago may have happened during the keynote speech by AIG chairman and CEO Maurice R. (Hank) Greenberg. But that development didn't happen...

Another victory for insurers in Y2K battle. (Up Front).
May 1, 2003... At a time when the quarterly earnings statements for insurance companies are wallowing in the red, insurers finally have something to cheer about. A federal judge in New Jersey has ruled in favor of five insurance companies sued in 1999 by...

Watson Wyatt. (News and Notes).
May 1, 2003... The percentage of employers with fully funded pension plans declined from 84 percent in 1998 to 37 percent in 2002, according to a new Watson Wyatt study. "With almost two-thirds of pension plans falling short, we expect to see many companies...

The Council of Insurance Agents and Brokers. (News and Notes).
May 1, 2003... Businesses are not buying terrorism coverage because it is too expensive and they do not consider themselves targets of terrorism, according to a new insurance survey conducted by The Council of Insurance Agents and Brokers. Nearly 60 percent...

The School of Risk Management at St. John's University and the International Insurance Society Inc. (News and Notes).
May 1, 2003... The School of Risk Management at St. John's University and the International Insurance Society Inc. will open an Insurance Hall of Fame gallery at St. John's University Manhattan Campus in July, officials have announced. The facility will...

SMC Business Councils. (News and Notes).
May 1, 2003... One out of every two employers said the cost of health insurance caused them to lay off staff or postpone hiring, according to an e-mail survey conducted by SMC Business Councils. Nearly 60 percent of respondents rated escalating health...

International Insurer Allianz Insurance Co. (News and Notes).
May 1, 2003... International Insurer Allianz Insurance Co. has received approval to start a property/casualty insurance business in China, the company has announced. The Guangzhou Branch will offer insurance to cover property, liability, marine and...

Homesite Insurance. (News and Notes).
May 1, 2003... Boston-based Homesite Insurance, a seller of homeowners insurance and home-related products, has been authorized to conduct business in five new states: Alabama, Maryland, Mississippi, South Carolina and South Dakota, the firm has announced....

XN Holdings. (News and Notes).
May 1, 2003... XN Holdings will expand medical coverage for expatriate families through an agreement with The Citadel, part of the Winterthur Swiss Insurance Group, XN has announced.

10 signs of chaos. (Risk Primer).
May 1, 2003... The insurance market woes continue. The fallout from the January 2003 renewals is behind us. We cautiously await the July 2003 renewals. Let's take a step back and look at some of the signs that show that chaos still reigns in the insurance...

The self-funded trust option. (Workers' Comp).
May 1, 2003... The workers' compensation insurance industry is in crisis. Businesses across the country are desperate to obtain reasonably priced insurance. Premiums are off the charts--up more than 300 percent in some states. Businesses are desperate for...

The compliance factor. (Financial Management).
May 1, 2003... Compliance is a critical issue in the choice of any investment firm to manage your portfolio if you're an insurance company. Every prospective investment manager must be able to monitor compliance with your investment guidelines and government...

Calendar of upcoming events.
May 1, 2003... May 15-16 Zurich Risk Management Conference. Building on the success of four previous conferences, this year's event on risk management and risk financing in Europe promises to deliver a comprehensive and innovative two-day program,...

New world order . (Cover Story).
May 1, 2003... U.S. companies seeking to do business on the continent will find that the old business climate issues of culture, regulation and labor may become even more pronounced once the current political difficulties fade. That may make Europe an...

Continuity planning: front and center after WTC. (Business Interruption).
May 1, 2003... The attacks on the World Trade center on Sept. 11 launched changes in business continuity planning as significant as the alterations the two Boeing jets made to the skyline of New York's financial district. When Mohammed Atta seized...

No end in sight: workers' comp faces an uphill struggle. (Workers' Comp).
May 1, 2003... Inadequate pricing, a struggling economy, rising medical inflation and a growing residual market continue to drive up workers' comp premiums. With little hope for change in the immediate future, employers and insurers must work together to...

Insurance in the red: guaranty funds, already under pressure, now have to cope with the Reliance fiasco. (Insolvency).
May 1, 2003... The predicted shakeout has arrived. Insurers' weakened debt and financial strength ratings are just one indication of a market in flux. The question facing risk managers is how the uncertainty will affect their future claims. For those who...

More bang for the buck: performance metrics that work; with the soft market of the 1990s just a memory, finding ways to lower the cost of risk is worth its weight in gold. (Risk Management).
May 1, 2003... The reality for risk managers is that their organizations' total cost of risk is probably much higher now than it was a few years ago. In a recent survey, Liberty Mutual found that the two greatest concerns of risk managers were rising premiums...

Getting ahead in the head game: how mental images shape sales performance. (Agent Broker).
May 1, 2003... As normal people, many of the pictures we have in our heads get us into trouble. This includes salespeople like agents and brokers. No matter who we are, we seem to get ideas, thoughts and images in our minds that, before you know it, become so...

Risk Management & Benefits Consultants. (Buyers' Guide).
May 1, 2003... BUYERS' GUIDE Risk Management & Benefits Consultants Below is the 9th annual guide to risk management & benefits consulting services. This list is not intended to be a complete directory but is an overview of some of the services...

Fringe Facts. (Software & Systems).
May 1, 2003... Benefit Software Inc. has released a Web-based communications portal, Fringe Facts Online Benefits Monitor. The system is designed to enable companies to streamline and automate the benefit communication process by providing a corporate...

Decision matrices. (Software & Systems).
May 1, 2003... Uniform Information Services, a division of CCH Inc., has launched five new adverse decision matrices. Individual matrices are available for conditional renewal, new business cancellation, midterm cancellation, cancellation due to nonpayment of...

Data analysis tool. (Software & Systems).
May 1, 2003... Universal Conversion Technologies has released DART, its new data analysis reporting tool designed to specifically gather data from a host environment and present it on a PC platform. DART formats, organizes and configures this host data into...

Risk online. (Software & Systems).
May 1, 2003... Marsh Inc., a division of the Marsh & McLennan Cos., has enhanced its Web-based risk management information system with the addition of interview-format data entry, automatic report scheduling capabilities, an insurance policy management module...

Online subscription service. (Software & Systems).
May 1, 2003... Protiviti has launched Knowledge Leader, a subscription-based online resource for internal auditors and business risk professionals. The system can be used as a resource tool and is designed to be a comprehensive and continually updated...

E-commerce educational tool. (Software & Systems).
May 1, 2003... Zurich North America Financial Enterprises has released E-RiskEdge CD-ROM, an interactive educational tool designed to help companies learn how to protect themselves from e-commerce risks. The tool uses detailed scenarios that explore...

Dumping tool. (Safety & Security).
May 1, 2003... Vestil Manufacturing Co. has developed an Open End Dumping Hopper to allow loading at ground level. The open design enables users to load more items in the hopper. Rolling on phenolic casters, the hopper is designed to easily move from one...

Dock seals. (Safety & Security).
May 1, 2003... T&S Equipment Co. has developed Dock Seals and Shelters to seal out cold air and inclement weather. It is available for door openings from 8' wide x 8' high to 10' high and mount around the door opening at the dock area. The new design replaces...

Handheld devices becoming too smart for their own good. (Special Report: Cyber Liability).
May 1, 2003... Cell phones and handheld devices from Microsoft, Handspring and Palm allow users to down load content. More functionality and flexibility means loading devices with proprietary software extensions from manufacturers and those extensions, while...

New world risks call for old risk management techniques. (Special Report: Cyber Liability).
May 1, 2003... If risk managers were to read just one section in the recently amended 60-page White House report, The National Strategy to Secure Cyberspace, says Ty Sagalow, it would be Section I on page 39. A new white house report long on vision but...