Business Insurance articles from August 2004

Business Insurance archives from August 2004

Creative approaches can fly; DMEC 9th Annual National Disability & Absence Management Conference.(Disability Management Employer Coalition)
August 2, 2004... Byline: ROBERTO CENICEROS BURLINGAME, Calif.-Blowing bubbles proved a creative way to alleviate frustrations when a team from Vought Aircraft Industries Inc. met over the course of several days to centralize and integrate the company's...

Medicare drug proposal may help employers qualify for tax break.(News)(Medicare and Medicaid Services)
August 2, 2004... Byline: JERRY GEISEL WASHINGTON-Proposed federal regulations could make it easier for some employers that retain prescription drug coverage for their retirees to collect a rich government subsidy. The regulations, proposed last week by...

Late News; Lloyd's consolidator postpones IPO.(Capital Insurance Holdings, financial incentives to workers in California to sue their employers for any labor code violations, Smith and Wesson Corp. sues American International Group Inc.)
August 2, 2004... The planned initial public offering of Capital Insurance Holdings, a company aimed at consolidating smaller listed Lloyd's of London companies, has been postponed. Sources said the IPO, originally slated for Aug. 2, will be restructured and...

Comings & Goings.(News)
August 2, 2004... Reinsurance: Stamford, Conn.-based General Re Corp. has named Patricia H. Roberts president and chief executive officer of its Genesis Underwriting Management Co. unit, which underwrites specialized excess and large-deductible insurance...

Union sues United officers to secure pension funding.(News)(International Assn. of Machinists & Aerospace Workers sues United Airlines)
August 2, 2004... Byline: JERRY GEISEL CHICAGO-United Airlines machinists last week filed suit in U.S. District Court in Chicago seeking to force the bankrupt airline to resume contributions to its massively underfunded pension plans. In July, United...

Dude, where's my health insurance?(News)
August 2, 2004... Byline: Paul Winston Filmmaker Michael Moore has made a career out of being a muckraker, trying to sweep aside the mud that obscures society's awareness of or interest in what he sees as the wrongs of the world. His next project might...

Broker competitor is aiming high.(Opinions)(Beecher Carlson Holdings Inc.)(Hobbs Co.)(Brief Article)
August 2, 2004... DOES THE WORLD NEED another broker to handle large accounts? A successful former brokerage owner and his investors think so. As we report on page 1, Beecher Carlson Holdings Inc. is planning to compete for commercial lines business with the...

Unions can aid absence efforts; DMEC 9th Annual National Disability & Absence Management Conference.(News)(Disability Management Employer Coalition)
August 2, 2004... Byline: ROBERTO CENICEROS BURLINGAME, Calif.-Employers that partner with their labor unions on absence management efforts, rather than view them as an obstacle, are more likely to win employee support for the programs, a human resources...

Raising pension stakes.(Opinions)
August 2, 2004... WILL THE GOVERNMENT take over United Airlines' massively underfunded pension plans? The answer to that question likely won't be known for some time, but the signs are not encouraging. United already has missed a $72 million contribution...

Incidental absence targeted; DMEC 9th Annual National Disability & Absence Management Conference.(News)(Disability Management Employer Coalition)(Brief Article)
August 2, 2004... BURLINGAME, Calif.-Incidental absence-sometimes referred to as casual absence-is a growing concern of employers, according to survey results presented at the Disability Management Employer Coalition's 9th Annual National Disability & Absence...

Taking a chance on wellness; DMEC 9th Annual National Disability & Absence Management Conference.(News)
August 2, 2004... Byline: ROBERTO CENICEROS BURLINGAME, Calif.-Most employer health plans, when confronted with a worker request to cover bariatric surgery, would simply allow or deny coverage. While Las Vegas-based Caesars Entertainment Inc. makes the...

BI to list top sites for risk, benefits management execs.(News)(Business Insurance)
August 2, 2004... CHICAGO-Business Insurance's Best of the Web recognizes and promotes excellence in Internet-based services for corporate risk and employee benefits executives. Rather than relying solely on nominations from Web sites to be reviewed and...

Brokers see hurdles to Lloyd's access; Accreditation of global brokers not a panacea.(International)(Lloyd)
August 2, 2004... Byline: PETA MILLER LONDON-Foreign brokers accredited by Lloyd's of London under its 2001 plan to create global access to the market are having mixed success. Several firms based outside the United Kingdom say that Lloyd's is still a...

India upgrades employee benefits; Multinational employer practices raising the bar for other employers.(International)
August 2, 2004... Byline: MICHAEL BRADFORD Multinational companies flocking to India have set off a boom in the country's employee benefits marketplace. In search of inexpensive labor and low operating costs, foreign companies in recent years have set...

Big brokers gain competitor; Hobbs' ex-CEO seeking large accounts.(News)(Beecher Carlson Holdings Inc.)
August 2, 2004... Byline: SALLY ROBERTS ATLANTA-One year after leaving broker Hilb, Rogal & Hobbs Co., Thomas A. Golub is spearheading the formation of a new company to compete with the world's largest insurance brokers, including his former firm. The...

World Updates.(International)(Heath Lambert Group Ltd.)
August 2, 2004... Converium adds to reserves Converium Holding Ltd. has added $385 million to its reserves, which contributed to a second-quarter loss of $660.0 million. The Zug, Switzerland-based reinsurer said the reserve boost was needed to address...

Canadian high court rules for pension distribution.(News)(Brief Article)
August 2, 2004... Byline: GLORIA GONZALEZ OTTAWA-Canadian companies that institute partial wind-ups of their pension plans must pay employees a share of any available pension surplus, the Supreme Court of Canada ruled. In last week's ruling, Canada's...

Kemper runoff frustrates group of policyholders; Some buyers calling for insurer's liquidation.(Kemper Insurance Cos.)
August 2, 2004... Byline: MEG FLETCHER LONG GROVE, Ill.-Legislative inaction and policyholder agitation are presenting challenges to Kemper Insurance Cos.' plans for an orderly runoff of its business. Illinois lawmakers failed to act before adjourning...

Class action OK'd against Aon Corp. over contingent pay.(News)
August 2, 2004... Byline: SALLY ROBERTS CHICAGO-A Chicago judge last week approved a class-action lawsuit against Aon Corp. alleging that the insurance brokerage breached its fiduciary duty by taking contingent commissions from insurers without disclosing...

Nursing crisis demands action.(Commentary)
August 2, 2004... Byline: Dave Lenckus The unsettling results of a newly released study on nurses who work overtime seem obvious. What's being done to correct the problem the study examined is not so clear. The study, conducted by the University of...

Legislatures tread lightly on bills relating to benefits.(health insurance)
August 2, 2004... Byline: SALLY ROBERTS State legislatures had more on their minds than comprehensive health care reform during their 2003-2004 legislative sessions. In many cases, state budget woes took precedence over trying to curb double-digit...

Defined benefit sponsors awaiting legislative relief.(Spotlight: Regulatory & Legislative Developments)
August 2, 2004... Byline: JUDY GREENWALD The long-term future of defined benefit pension plans hangs in the balance while employers and others wait to see what Congress does to address the defined benefit system's problems. Plan funding is a major...

Treasury resolving HSA conflict on mandated benefits.(Spotlight: Regulatory & Legislative Developments)
August 2, 2004... Byline: JERRY GEISEL An obstacle that could prevent insurers and health maintenance organizations from offering fully insured employers high-deductible health insurance plans linked to health savings accounts slowly is being resolved. ...

Guidance may lead employers to revisit HSA arrangements.(health savings accounts)
August 2, 2004... Byline: JERRY GEISEL WASHINGTON-New regulatory guidance on health savings accounts is likely to steer large employers away from HSAs and toward health reimbursement arrangements, benefit experts say. Alternatively, employers moving...

Between the Lines; Sit, stay, catch fraud...good boy.(News)(chiropractic fraud)
August 9, 2004... Byline: Compiled by Joanne Wojcik Buddy, not Jack, is the real name of an undercover Jack Russell terrier that helped fraud investigators nab two Sacramento, Calif., chiropractors last week for allegedly bilking auto and workers comp...

Security, coverage at Athens games set Olympic records.(News)
August 9, 2004... Byline: SARAH VEYSEY ATHENS, Greece-The 2004 Olympic Games will have in place one of the most comprehensive insurance and risk management plans in the history of the event when it begins in Athens, Greece, on Aug. 11. The 2004 summer...

U.K. risk managers denied regulatory exemption.(News)(Association of Insurance & Risk Managers)(Brief Article)
August 9, 2004... Byline: SARAH VEYSEY LONDON-The U.K. Treasury has refused a request to exempt risk managers from possible regulation by the Financial Services Authority. The London-based Assn. of Insurance & Risk Managers had asked the Treasury to...

Late News.
August 9, 2004... Hampton resigns RIMS' top post John J. Hampton resigned last week as executive director of the Risk & Insurance Management Society Inc. A spokeswoman for New York-based RIMS said that Mr. Hampton left to pursue consulting work. A...

More risk managers turning to catastrophe models; Market conditions, disclosure requirements fueling interest in risk assessment tools.
August 9, 2004... Byline: DAVE LENCKUS and MEG SHREVE Catastrophe models, long used by insurers, are becoming more popular among risk managers as the tools become more advanced. Though few risk managers have the budgets to purchase the modeling tools...

Parity advocates aim to close loopholes in mental health law; Employers, insurers oppose bill.(News)
August 9, 2004... Byline: GLORIA GONZALEZ Federal legislation that would mandate increased parity in mental health care benefits by eliminating unequal plan limits on the number of inpatient days and outpatient visits has highlighted the deep divisions...

Flood risks rising as levees fall into state of disrepair.(Spotlight: Catastrophe Management)
August 9, 2004... Byline: MICHAEL BRADFORD Owners of business properties near flood-control levees should not take for granted the protection that those barriers provide. The thousands of miles of levees that snake along U.S. rivers and waterways need...

Transformer test averts shutdowns.(Spotlight: Catastrophe Management)(Hartford Steam Boiler Inspection & Insurance Co.)
August 9, 2004... Byline: Mark A. Hofmann Not all materials testing involves high-visibility hazards-in fact, some are very difficult to see. While transformer oil might not spring to the front of a risk manager's mind as a critical concern, transformer...

Insurers make testing cornerstone of property loss control.(Institute for Business and Home Safety, Underwriters Laboratories Inc.)
August 9, 2004... Byline: MARK A. HOFMANN A just-signed agreement between a property/casualty insurance organization and a nationally recognized testing facility underscores the growing importance of materials testing as a means of mitigating losses before...

Policyholders on their own in picking restoration services.(Spotlight: Catastrophe Management)
August 9, 2004... Byline: JOANNE WOJCIK When catastrophe strikes, causing damage that requires the use of cleanup and restoration contractors, most risk managers will find they're pretty much on their own. While some insurers and claims adjusters...

Surplus lines directory deadline approaches.(News)( Directory of Insurance Wholesalers)(Brief Article)
August 9, 2004... Business Insurance will publish its online directories of surplus lines insurers and insurance wholesalers in conjunction with the Sept. 20 issue. This issue will include a Spotlight report on surplus lines and rankings of the largest...

Natural, manmade disasters require similar risk planning.(Spotlight: Catastrophe Management)
August 9, 2004... Byline: ROBERTO CENICEROS Brokers, insurers and risk consultants have bulked up their terrorism expertise, offering related mitigation and crisis planning services alongside their traditional catastrophe management and business continuity...

Products & Services; ACE broadens offerings for midsize casualty risks.(News)
August 9, 2004... PHILADELPHIA-ACE Risk Management, a division of ACE USA, has expanded its risk management suite of products by assisting midsize companies in the casualty risk financing area. The Philadelphia-based unit's Corporate Risk Solutions program...

Errors & omissions.(Corrections)(Correction Notice)
August 9, 2004... Due to a reporting error, the July 5 and Aug. 2 stories on Kemper Insurance Cos.' solvent runoff plan misspelled the surname of Michael A. Coutu, the insurance company's acting president, chief executive officer and chief financial officer.

Workplace violence concerns not being addressed: Survey; NIOSH says U.S. averages 17 murders at work each week.(News)
August 9, 2004... Byline: MEG FLETCHER Many employers need to take a more formal and comprehensive approach to preventing workplace violence, according to a new report by the American Society of Safety Engineers. According to the ASSE's findings, 74% of...

Drug company settles charges over Claritin.(News)(Brief Article)
August 9, 2004... Byline: GLORIA GONZALEZ PHILADELPHIA-Schering Sales Corp., a unit of drugmaker Schering-Plough Corp., has pleaded guilty to a federal criminal charge of violating the Anti-Kickback Act in an alleged arrangement it had with CIGNA Corp. over...

Halliburton countersuing retirees over benefit plan cuts.(News)(Brief Article)
August 9, 2004... Byline: GLORIA GONZALEZ HOUSTON-Halliburton Co. is seeking class action certification for a lawsuit filed against several retired employees who have challenged a company decision to eliminate health insurance coverage for Medicare-eligible...

Florida seeking to reward investment in wellness plans.
August 9, 2004... Byline: SALLY ROBERTS TALLAHASSEE, Fla.-Florida employers could soon see a rebate of up to 10% on their paid health insurance premiums under a little-known provision in a new state law that rewards employers whose employees maintain...

Truckers face new hazardous transport rules; Terrorism concerns prompt security upgrades.(News)
August 9, 2004... Byline: MICHAEL BRADFORD WASHINGTON-Trucking companies will have to implement new security measures before their drivers can haul certain hazardous materials that could become dangerous in the hands of terrorists. A rule issued July 30...

New alert underscores risks; THREAT LEVEL RAISED TO ORANGE FOR FINANCIAL TARGETS.(News)
August 9, 2004... Byline: MARK A. HOFMANN WASHINGTON-The federal government's decision to cite specific entities and even buildings as possible terrorist targets has ramifications far beyond the affected areas. And that's the way it should be, say...

Zurich's preparedness advice stresses plans review, control of access points.(News)(Brief Article)
August 9, 2004... Byline: Mark A. Hofmann Zurich Financial Services Group is offering advice to business owners for responding to the recent elevation in the terrorism threat level. Among the steps the insurer advises businesses to take are to: * Review...

Ruling roils Canadian pension system; High court says surpluses must be distributed in partial terminations.(International)(Ontario (Superintendent of Financial Services))
August 9, 2004... Byline: GLORIA GONZALEZ A recent Supreme Court of Canada decision requiring distribution of surpluses for partially wound-up pension plans may have a significant impact on the way Canadian employers structure and fund their pension...

Use warnings to check preparedness.(Opinions)(Brief Article)
August 9, 2004... THE ORANGE TERROR ALERT that the Department of Homeland Security issued Aug. 1 shouldn't have risk managers seeing red or feeling blue. After all, the unusually detailed alert, which names specific companies and even certain buildings,...

New OT rules likely will create added litigation against employers.(News)
August 9, 2004... Byline: JUDY GREENWALD Employers are likely to face at least an initial flurry of litigation in response to new federal overtime regulations that take effect Aug. 23, but this is likely to diminish over time as its provisions are clarified...

Insurance widens the world of sports.(News)
August 9, 2004... Byline: Paul Winston The hard insurance market is at an end. Let the games begin! In recent years, numerous amateur contests of speed, skill and athleticism were at risk of being sidelined or derailed by scarce or unaffordable...

World Updates; Pension deficits narrow at large U.K. companies.(International)(Talbot Underwriting Ltd.)
August 9, 2004... The defined benefit pension fund deficits of the 100 largest U.K. public companies fell 24%, to u42 billion ($76.40 billion), in the 12 months ending June 30, a study shows. London-based actuarial consultant Lane Clark & Peacock measured the...

Cargo war rating body disbands; End of rate schedule could give buyers room for negotiation.(International)
August 9, 2004... Byline: PETA MILLER LONDON-Cargo war risk buyers may be able to negotiate better prices for coverage, following the disbanding last month of the London market body that for decades has essentially set rates for such risks. The War...

9/11 revenue losses spur coverage lawsuit; Hotel chain's claim is for lost business nationwide.(News)
August 9, 2004... Byline: DOUGLAS McLEOD NEW YORK-The extent to which business interruption coverage responds to certain Sept. 11-related losses will see another legal test in a hotel company's bid to recover millions of dollars in losses for locations far...

Simple steps yield health cost savings.(Opinions)
August 9, 2004... WE COMMEND Florida state legislators for approving a bold and innovative plan to reward employers that encourage employees to maintain healthy lifestyles. As we report on page 4, health insurers and managed care plans in the state will be...

More suits filed over broker commissions; Consumer group sues Marsh, Aon, Willis over contingent pay.(News)
August 16, 2004... Byline: SALLY ROBERTS SAN DIEGO-A San Francisco-based insurance consumer rights group is suing the world's three largest brokerages, alleging they defrauded California customers by not adequately disclosing the contingent commissions they...

Late News; Charley claims could hit $15 billion, RMS says.(Hurricane Charley )
August 16, 2004... Catastrophe modeling specialist Risk Management Solutions Inc. late last week was predicting that Hurricane Charley could cause as much as $15 billion in insured property damage. The storm was upgraded to a Category 4 hurricane on Friday...

Mental illness costly in Canada, but few employers seek fixes.(News)
August 16, 2004... Byline: GLORIA GONZALEZ Canadian employers recognize that mental illnesses are leading to substantial increases in benefit costs, but most neither have dealt with mental health issues in the workplace nor plan to do so in the near future,...

Legal Briefs: Seizure-related bite not a violent crime under comp.(Perspectives)
August 16, 2004... A police officer who was bitten by an HIV-positive man experiencing a seizure was not a "victim of a crime of violence'' under the Colorado Workers Compensation Act, according to the Colorado Court of Appeals. Michael Bralish, a police...

Comings & Goings-Buyers.(News)
August 16, 2004... Suzanne Molinari has been appointed vp of human resources for Keenan & Associates, a Torrance, Calif.-based insurance brokerage. Ms. Molinari is responsible for the entire human resources department, which includes employee benefits and...

Terrorism threat demands proper planning; Designating a response team, ensuring access to policies are among key preparations.(Perspectives)
August 16, 2004... Byline: Donald V. Jernberg No one wants to dwell on the potential for a significant terrorist attack on the United States in the near future, but officials are telling us that an attack is almost inevitable. There is reason to believe that...

Health cover tax credit promising.(Opinions)
August 16, 2004... Is the glass half full or half empty? That is a reasonable question when evaluating a federal program that gives a generous tax credit to partially offset the cost of health insurance premiums for those who have lost their jobs due to...

Kemper changes offer new options.(Opinions)(Brief Article)
August 16, 2004... The recent management changes at Kemper Insurance Cos. should be taken as an opportunity for all sides to adopt a more positive approach to resolving the liabilities of the insurer as it pursues a solvent runoff. As we have reported over...

Comings & Goings-Industry.(News)
August 16, 2004... Agents/brokers Steve Bartlett has been appointed managing director of the Horsham, England-based wholesale division of Heath Lambert Insurance Services. Previously, Mr. Bartlett was marketing director at Heath Lambert. New York-based...

Intervention key in battle against drug abuse.(News)
August 16, 2004... Byline: MEG SHREVE "I was driven by success,'' Bob Poznanovich said of his corporate rise. By the time he was 30, Mr. Poznanovich was vp of sales at a Fortune 500 electronics company and was handling millions of dollars in sales and...

Mold liability woes creeping up on commercial lines.(News)
August 16, 2004... Byline: RUPAL PAREKH While mold is turning out to be a shorter-lived liability nightmare than had been initially feared for personal lines insurers, commercial lines companies continue to face considerable exposure to mold-related...

Ensuring a hit for reality TV.(Commentary)
August 16, 2004... Byline: Douglas McLeod Reality TV programming may eventually go the way of "The Gong Show,'' but right now it's looking like an inexhaustible genre. The lineup has expanded from a mere handful of shows a few years ago to a coaxial...

Benefit managers seeking greater info on workings of PBMs.(prescription befit management)
August 16, 2004... Byline: JOANNE WOJCIK The increased scrutiny of the prescription benefit management industry is giving benefit managers a clearer glimpse into PBMs' inner workings, empowering them to demand greater transparency. Despite a recent...

World Updates; AXA posts gains in first half.(International)(AXA Group)
August 16, 2004... AXA S.A. recorded net income of 1.44 billion euros ($1.75 billion) for the first half of 2004, up from 200 million euros ($230.0 million) for the year-earlier period, when its profits were held down by a 1.1 billion euro ($1.27 billion) charge...

Mapfre writes cover for Paraguayan mall gutted in deadly fire.(International)(Paraguayan shopping center, Corporacion Mapfre S.A.)
August 16, 2004... Byline: Peta Miller ASUNCION, Paraguay-The owner of the Paraguayan shopping center where about 400 people died in a fire earlier this month has property and liability coverage written by a local unit of Corporacion Mapfre S.A. in Madrid,...

Group benchmarks programs to manage absences, disability.(News)
August 16, 2004... Byline: ROBERTO CENICEROS An employer group is working to make it easier for companies to measure the success-and to demonstrate the benefits-of their absence and disability management programs. The Council on Employee Health &...

Productivity tool improves employer's labor relations.(News)
August 16, 2004... Byline: Roberto Ceniceros DENVER-One company involved in an EMPAQ pilot project has already enjoyed a benefit of its participation-improved relations with organized labor. Denver-based Qwest Communications International Inc. in 2003...

Government report denies U.K. auditors a cap on liability; Despite high cost of cover, law change rejected.(News)
August 16, 2004... Byline: SARAH VEYSEY LONDON-Auditors' hopes that the U.K. government might allow them to cap their liabilities have been dealt a blow by a report from the Office of Fair Trading, but they say they will continue to lobby for liability...

Directors of trust for asbestos claims get liability shield.(International)
August 16, 2004... Byline: ELIZABETH FRY SYDNEY, Australia-Directors of the fund created to pay the asbestos-related liabilities of James Hardie Industries N.V. should be temporarily protected from any personal liability to allow the fund to continue to pay...

Two ex-Benfield execs barred from soliciting former clients.(News)
August 16, 2004... Byline: DOUGLAS McLEOD MINNEAPOLIS-A federal judge has issued a temporary restraining order against two former Benfield Inc. officers accused by the broker of luring away clients after they quit to join rival intermediary John B. Collins...

California's high court rejects bad-faith award against insurer.(News)(claims)
August 16, 2004... Byline: DOUGLAS McLEOD SAN FRANCISCO-In a decision that could limit insurers' exposure to bad-faith claims, the California Supreme Court has ruled that a policyholder cannot pursue a bad-faith suit against its insurer for alleged...

Japan mulling changes to Kampo; Trade talks to include U.S. insurers' concerns about state-run company.(International)
August 16, 2004... Byline: MICHAEL BRADFORD TOKYO-Japan's huge government-run insurer may soon lose some of the competitive advantages that private insurers have long wanted eliminated. While the Tokyo-based Postal Life Insurance Service, which enjoys...

Kemper's acting chief executive steps down; Management changes not expected to threaten solvent runoff arrangement.(News)(Council of Insurance Agents & Brokers)
August 16, 2004... Byline: MEG FLETCHER LONG GROVE, Ill.-In an unexpected move, Kemper Insurance Cos. and its runoff chief have parted company, but the insurer and regulators say the move should not hamper the solvent runoff of the financially troubled...

Tax credit for health coverage sees growth in participation.(News)(Health Coverage Tax Credit)(tax credit for health insurance premium)
August 16, 2004... Byline: JERRY GEISEL WASHINGTON-Although it remains small, a federal program that subsidizes the cost of health insurance premiums for some workers and retirees is rapidly growing, with much more utilization considered likely if certain...

Whirlpool crafts innovative plan to fund benefits; Proposal involves captive, VEBA.(News)(Voluntary Employees' Benefits Association)
August 16, 2004... Byline: JERRY GEISEL WASHINGTON-One of the nation's best-known major appliance manufacturers is asking the Labor Department for permission to fund retiree health care benefits in an unusual arrangement utilizing its captive insurance...

Finite risk programs can address problem areas.(News)
August 23, 2004... Byline: RODD ZOLKOS BURLINGTON, Vt.-Finite risk arrangements can be a cost-effective alternative to traditional insurance or reinsurance programs in cases where efficient solutions are difficult to find in the traditional market, according...

Outsourcing violates privacy law: Union.(International)(Brief Article)
August 23, 2004... Byline: SARAH VEYSEY LONDON-A U.K. labor union is challenging London-based Lloyds TSB Bank P.L.C.'s decision to outsource some jobs to India on the grounds that such outsourcing violates privacy law. London-based Lloyds TSB Union, in...

Aussie buyers see rates fall in most lines; Property prices down 9% at midyear renewals, survey finds.(International)
August 23, 2004... Byline: ELIZABETH FRY Commercial policyholders in Australia are seeing rates fall in most lines as competition among insurers intensifies, according to a survey of insurers and brokers. At midyear renewals, commercial rates fell by 5%...

Between the Lines; Rate hike keeps barrel from rolling out in Chicago.(News)
August 23, 2004... Byline: Compiled by Joanne Wojcik There won't be much polka dancing in the streets of downtown Chicago next month, because the lack of affordable insurance has forced The Berghoff Restaurant to cancel its Oktoberfest celebration. For...

Storm's volatility a certainty.(News: Hurricane Charley )
August 23, 2004... Byline: Mark A. Hofmann That Hurricane Charley missed its initial projected landfall by more than 70 miles came as no surprise to catastrophe modelers. Hurricanes can be quite unpredictable, with the slightest change in atmospheric...

TRIA supporters hopeful backstop will be extended.(News)(Terrorism Risk Insurance Act)
August 23, 2004... Byline: MARK A. HOFMANN WASHINGTON-The combination of elevated terrorism alerts and continuing examination of the 9/11 Commission's findings could help spur Congress to reauthorize the Terrorism Risk Insurance Act this year, supporters of...