Business Insurance articles from December 2005

Business Insurance archives from December 2005

Trustees converge at conference.(News)(Brief Article)
December 5, 2005... HONOLULU-More than 5,000 trustees of multiemployer health plans attended the 51st Annual U.S. Employee Benefits Conference of the International Foundation of Employee Benefit Plans, held Nov. 12-16 in Honolulu. In addition to plan...

Busy benefit manager engages in unique activity to relieve on-the-job stress.(Benefit Manager of the Year)(Chris McSwain)
December 5, 2005... Byline: Joanne Wojcik COLUMBIA, S.C.-Chris McSwain, director of compensation and benefits at SCANA Corp., knows how to swim with sharks. He slips out of his office around 3 p.m. every Wednesday and heads over to the nearby aquarium,...

Far from standard, political risk coverage is tailored to meet specific customer needs.
December 5, 2005... Byline: Michael Bond Many companies seeking business opportunities in the emerging markets are faced with unusual and unfamiliar risks, especially the political risks that can arise from volatility in those countries. While these...

Employer held liable for contract worker's acts in harassment appeal.(News)
December 5, 2005... Byline: JUDY GREENWALD CHICAGO-An employer can be liable for sexual harassment committed against one of its employees even if the harasser is not an employee of the organization, says an appellate court. The Nov. 17 decision by the 7th...

Products & Services.(Briefs)(SYS Commercial Insurance Services adds general liability coverage )(International Risk Management Institute Inc releases its second edition of Insurance for Defective Construction)(MetLife offers insurance program for its employees)
December 5, 2005... BISYS general liability insurance offering added MELBOURNE, Fla.-BISYS Specialty Programs, a division of BISYS Commercial Insurance Services, has added a monoline general liability coverage program to its line of products. The general...

Independent panel of judges selected top benefit manager.(Benefit Manager of the Year)
December 5, 2005... CHICAGO-Business Insurance assembled an independent panel of employee benefit experts as judges for the inaugural Benefit Manager of the Year award. The panelists represented top benefit consulting firms, insurance brokerages, managed...

Winner of benefit award sets example for others.(Editorial)
December 5, 2005... TURNING AROUND health care cost trends is easy to say but hard to do. Still, an innovative benefit professional has managed to do it. That accomplishment, among many others, helped to make him the 2005 Benefit Manager of the Year. In this...

Data warehouse to sharpen analytical tools.
December 5, 2005... Byline: JOANNE WOJCIK In a rare public/private partnership, SCANA Corp. is working with the University of South Carolina to build a health and disability claims data warehouse that will be used to develop interventions to keep SCANA's...

How to submit a Perspectives article to Business Insurance.(Perspectives)
December 5, 2005... Business Insurance accepts articles from experts in commercial insurance, risk management and employee benefits management for publication in its Perspectives section. The section is intended to be a forum for readers' opinions and a forum...

Consumerist incentives yield savings for SCANA; Surcharge on working spouses and retirees is unpopular but effective.(Benefit Manager of the Year)
December 5, 2005... Byline: JOANNE WOJCIK COLUMBIA, S.C.-To curb its spiraling health benefit costs, SCANA Corp. made several plan changes that it hopes will encourage its employees to become more careful consumers of health care. The Columbia, S.C.-based...

XL management under fire as more problems emerge; Analysts raise questions following insurer's costly loss in arbitration.
December 5, 2005... Byline: DAVE LENCKUS WINTERTHUR, Switzerland-An arbitration loss that forces XL Capital Ltd. to add $830 million to loss reserves is another in a string of surprising financial setbacks this year that has some securities analysts...

Disaster preparedness pays dividends.
December 5, 2005... Byline: Eileen Gardner I concur with Paul Winston's Sept. 12 article "Cities paying a high price for their unpreparedness.'' It is vital to take the necessary steps before your catastrophe exposure becomes reality. Earlier this year,...

State may restrict health insurers' 'excess surplus'; Washington state regulator cites record profits, rising premiums in proposing study of reserve limits.
December 5, 2005... Byline: MEG FLETCHER OLYMPIA, Wash.-Washington may become the third state to regulate "excess'' surplus at health insurers, which, state officials say, are experiencing record profits while premiums increases outpace inflation. ...

Pension reform gets mixed review; U.K. employers differ on proposal to mandate plan contributions.(World)
December 5, 2005... Byline: SARAH VEYSEY LONDON-Employer groups expressed mixed reactions to proposals that would radically overhaul the pensions system in the United Kingdom and require compulsory employer contributions to a new national savings plan or...

IRS guidance hampers firms with FSAs, HSAs.(News)(flexible spending accounts)(health savings accounts)(Internal Revenue Service)
December 5, 2005... Byline: JERRY GEISEL WASHINGTON-Even if only a handful of employees at an organization opt for health savings accounts, all employees could lose their ability to fully utilize their flexible spending accounts during an FSA grace period....

Multiemployer plans struggle to establish health accounts; But expert advises how to introduce other consumerist elements.(News)
December 5, 2005... Byline: JOANNE WOJCIK HONOLULU-The lack of U.S. Treasury Department guidance on the use of consumer-driven health plans in multiemployer environments makes it difficult, though not impossible, for multiemployer plans to offer health...

Supply chain risks require thoughtful managing: Experts.(World)
December 5, 2005... Byline: BARBARA COCKBURN LONDON-Outsourcing can save companies money, but the increased risk associated with relying on outside help must be carefully managed or those savings could evaporate, several experts say. In particular, the...

Wal-Mart suing hospital to recoup payout on workers comp claim.(News)
December 5, 2005... Byline: ROBERTO CENICEROS SALINAS, Calif.-In what some observers say is part of a growing trend of employers filing subrogation suits, Wal-Mart Stores Inc. is suing a hospital to recoup workers compensation benefits it paid to an employee...

Hurricanes deliver blow to Lloyd's profit hopes.(World)
December 5, 2005... Byline: SARAH VEYSEY LONDON-Lloyd's of London will likely report a loss for 2005 as a result of losses from hurricanes Katrina, Wilma and Rita, Lloyd's said Wednesday. Lloyd's said that marketwide losses from Hurricane Katrina are now...

Colleagues, family and friends honor McSwain's achievements.(Benefit Manager of the Year)(Chris McSwain)
December 5, 2005... Byline: JOANNE WOJCIK COLUMBIA, S.C.-The drive and passion that Chris McSwain, director of compensation and benefits at SCANA Corp., has for his work may come from within, but it also reflects the culture of his company. At a luncheon...

Washington should think twice about surplus limits.(Editorial)(Brief Article)
December 5, 2005... THE STATE OF WASHINGTON plans to hold a public hearing this week on health insurers' "excess'' surplus as a possible first step toward regulating the maximum amount of surplus insurers may maintain. We hope that the state considers the matter...

Turbulent times for XL.(News)(Brief Article)
December 5, 2005... February 1999: XL merges with NAC Re Corp. in a deal valued at $1.2 billion. October 2000: XL exits several lines of business, including the pooled aviation and medical stop-loss business written by NAC Re. XL eventually will not renew...

In-house pharmacy delivers results.
December 5, 2005... Byline: JOANNE WOJCIK COLUMBIA, S.C.-Chris McSwain, director of compensation and benefits at SCANA Corp., thought he would meet some resistance when he approached three state pharmacy boards for permission to open an in-house pharmacy. ...

SCANA health coach helps plan members get in shape.(Benefit Manager of the Year)
December 5, 2005... Byline: JOANNE WOJCIK COLUMBIA, S.C.-Weight loss is the most popular reason for SCANA Corp. employees to seek the help of Health Coach LaTonya Davis in the LiveWell Resource Center. It's also a topic near and dear to her heart. "I...

Plan trustees advised to join the bankruptcy process early.(News)
December 5, 2005... Byline: JOANNE WOJCIK HONOLULU-To avoid having a bankruptcy court judge decide the fate of employee benefit plans in a corporate bankruptcy, plan trustees should make certain they get a seat on the creditors' committee, a bankruptcy expert...

Reforms built on legacy of innovation.
December 5, 2005... Byline: Joanne Wojcik COLUMBIA, S.C.-Chris McSwain's groundbreaking efforts to address the company's health care cost crisis are the latest examples of SCANA Corp.'s 159-year history of innovation and resilience. Though the holding...

Powerful message empowers employees; Marketing strategy seeks to highlight positive changes.(Benefit Manager of the Year)
December 5, 2005... Byline: JOANNE WOJCIK COLUMBIA, S.C.-After getting the green light from SCANA Corp.'s upper management, Chris McSwain, director of compensation and benefits, knew he would also need an employee mandate for the benefit program changes he...

Powering change.(Benefit Manager of the Year)(Chris McSwain )(Brief Article)
December 5, 2005... Since joining SCANA Corp. only two years ago, Chris McSwain has radically retooled the utility company's benefit management program. September 2003: Chris McSwain is hired as director of compensation and benefits at SCANA Corp. ...

A caring approach to solving problems; Focus on health and service helps utility achieve fast results.(Benefit Manager of the Year)
December 5, 2005... Byline: JOANNE WOJCIK COLUMBIA, S.C.-Chris McSwain has accomplished more in his brief, two-year tenure as director of compensation and benefits at Columbia, S.C.-based SCANA Corp. than most benefit managers can hope to achieve in a...

Benefit 'dashboards' aid SCANA's drive to cut costs.
December 5, 2005... Byline: JOANNE WOJCIK COLUMBIA, S.C.-As a scientist, it was only natural that Chris McSwain, director of compensation and benefits at SCANA Corp., would develop his own system for measuring the performance of the various company benefit...

Winner's indirect career path rounds out benefit experience.(Benefit Manager of the Year)(Chris McSwain )
December 5, 2005... Byline: JOANNE WOJCIK COLUMBIA, S.C.-Like many benefit managers, Chris McSwain didn't enter the field directly. After graduating from Emory University with a master's degree in chemistry, he worked for two years in the pharmaceutical...

SCANA's plan members value onsite resource center; Open-access facility aims to treat 'whole person'.
December 5, 2005... Byline: JOANNE WOJCIK COLUMBIA, S.C.-The LiveWell Resource Center is the manifestation of the improvements SCANA Corp. has implemented to help its employees, retirees, as well as their dependents, better manage their health. Housed in...

Summit frames health care as business issue; Presentations, visual aids illustrate skyrocketing costs of coverage.(Benefit Manager of the Year)(Chris McSwain)
December 5, 2005... Byline: JOANNE WOJCIK COLUMBIA, S.C.-Chris McSwain, SCANA Corp. director of compensation and benefits, knew almost instinctively that the only way he was going to win upper management's support of his plan for remedying the company's...

House, Senate differences won't kill TRIA; Lawmakers seek to map long-term solution, but disagree on best route.(News)(Terrorism Risk Insurance Act)
December 5, 2005... Byline: MARK A. HOFMANN WASHINGTON-U.S. House and Senate conferees should be able to resolve a key difference between two bills designed to extend the Terrorism Risk Insurance Act, say proponents of TRIA extension. The difference is...

SCANA health site helps employees stay informed, crunch numbers.(Benefit Manager of the Year)
December 5, 2005... Byline: Joanne Wojcik COLUMBIA, S.C.-The health information Web site that SCANA Inc. provides to its employees, retirees and their dependents is a virtual health resource center in itself. "HealthSmart,'' which was developed by Aon...

Medicare eligibility sets options for retirees.(Benefit Manager of the Year)(Brief Article)
December 5, 2005... Byline: Joanne Wojcik COLUMBIA, S.C.-Like many companies that offer retiree health benefits, SCANA Corp. faces the challenge of keeping those costs in check. "There are two driving forces,'' explained Chris McSwain, director of...

Aon corrects error, increases Connecticut settlements.
December 5, 2005... Byline: Sally Roberts HARTFORD, Conn.-More than 20 Connecticut municipalities, corporations and individuals will receive more money than they anticipated under Aon Corp.'s $190 million contingent commissions settlement after the...

Anesthesia belongs in specialist hands.
December 5, 2005... Byline: Senior Editor Dave Lenkus Hospital risk managers have to question whether gastroenterologists-the physicians who specialize in stomach and related disorders-are team players in mitigating medical malpractice losses. It does not...

Cayman attracts its first reinsurer; Brokers question domicile's ability to be major player.(News)
December 5, 2005... Byline: SALLY ROBERTS GEORGETOWN, Grand Cayman-With the formation last month of its first open-market reinsurer, Greenlight Re, the Cayman Islands is poised to become a major player in the reinsurance market, according to its insurance...

Property/casualty insurers shaken but not toppled by 3Q hurricanes.(News)
December 5, 2005... Byline: JUDY GREENWALD Hurricanes aside, the U.S. property/casualty industry is doing pretty well, say observers. While insurers are clearly feeling the impact of this year's hurricane season on their bottom lines, their underlying...

Updates; Beazley to form third Lloyd's syndicate.(World)(Watson Wyatt Worldwide plane to set up a branch)(Geoffrey Howe joins Jardine Lloyd Thompson Group P.L.C)
December 5, 2005... Beazley Group P.L.C. is setting up a third Lloyd's of London syndicate to underwrite property insurance, property reinsurance and marine energy business. Beazley, which manages two Lloyd's syndicates and a U.S. operation, said several investors...

Late News; Insurers dispute disability policy probe.(department of insurance)
December 5, 2005... Insurers last week filed suit against the California Department of Insurance in response to a department examination of disability policies that could lead to the withdrawal of all previously approved policy forms that it determines contain...

Errors & Omissions.(Corrections)(Correction Notice)
December 5, 2005... A Nov. 28 article, "Cyber privacy rules challenge employers,'' included an incorrect location for the law firm Cozen O'Connor. The law firm is based in Philadelphia.

South Dakota court strikes countersign law.(Brief Article)
December 5, 2005... Byline: Mark A. Hofmann PIERRE, S.D.-A U.S. district court has struck down South Dakota's countersignature law that required out-of-state agents to pay resident agents a fee to countersign policies sold in the state. The Nov. 29 ruling...

Unpredictability holds intrinsic industry lure.
December 5, 2005... Byline: Paul Winston Many people in the insurance industry have wondered why they have stayed in this business so long. They think of their childhood, when they held unflattering perceptions of people who worked in insurance. They...

Michael Segal sentenced to 10 years; Judge cites ex-broker's 'bigheadedness'.
December 5, 2005... Byline: MEG FLETCHER CHICAGO-Convicted Near North National Group Inc. owner Michael Segal was sentenced last week to more than 10 years in federal prison for his June 2004 conviction on charges of fraud, racketeering and mishandling more...

Hurricanes deliver blow to Lloyd's profit hopes.(World)
December 5, 2005... Byline: SARAH VEYSEY LONDON-Lloyd's of London will likely report a loss for 2005 as a result of losses from hurricanes Katrina, Wilma and Rita, Lloyd's said Wednesday. Lloyd's said that marketwide losses from Hurricane Katrina are now...

How to submit a Perspectives article to Business Insurance.(Benefits Management)
December 12, 2005... Business Insurance accepts articles from experts in commercial insurance, risk management and employee benefits management for publication in its Perspectives section. The section is intended to be a forum for readers' opinions and a forum...

Historic U.K. law honors civil partnerships.(World)
December 12, 2005... Byline: SARAH VEYSEY LONDON-Employers in the United Kingdom must ensure that they offer the same employee benefits to same-sex partners entering into newly introduced civil partnerships as they do to married spouses. Same-sex couples...

James Hardie reaches record settlement.(World)(James Hardie Industries Proprietary Ltd.)
December 12, 2005... Byline: ELIZABETH FRY SYDNEY, Australia-James Hardie Industries NV and the New South Wales government signed the largest personal-injury settlement ever reached in Australia-a $3.4 billion, 40-year compensation package for asbestos...

Most employers to keep retiree drug benefit in 2006.(News)
December 12, 2005... Byline: JERRY GEISEL Most large employers providing prescription drug coverage to Medicare-eligible retirees will keep those plans in 2006, when Medicare is expanded to cover drugs, but that expansion is unlikely to stop the erosion of...

Models offer new views of retirement benefits.(Benefits Management)
December 12, 2005... Byline: DEBORAH SHALOWITZ COWANS Employers increasingly are turning to computer-based modeling programs as they seek to help employees understand and appreciate their retirement benefits amid a rapidly changing environment for those...

Employers embrace electronic benefit tools; More online media used to provide information.(Benefits Management)
December 12, 2005... Byline: LOUISE KERTESZ Interactive employer Web sites are now the principal source of employee benefits communication at many large firms. Many employers have virtually eliminated paper and mail in benefits communication; others use paper...

U.K. court decides against reinsurers in 'Aon 77' appeal; Ceding insurers don't owe duty of care to reinsurers.
December 12, 2005... Byline: SARAH VEYSEY LONDON-Reinsurers underwriting excess-of-loss contracts may not deny coverage on the grounds that ceding insurers owe a duty of care to underwrite original risks prudently, unless such a duty is expressly contained in...

Better late than never for pension reform legislation.(Editorial)
December 12, 2005... In light of last week's decision by House Republican leaders to delay until next year floor consideration of pension funding reform legislation, it is not unreasonable to ask why the GOP decided to pull the bill. We hope the reason was...

Two years in, HSAs prove a boon to consumerism.(Editorial)(Health Savings Accounts)(Brief Article)
December 12, 2005... On the second anniversary of their creation, we think health savings accounts already have had an impact on the group health insurance market that goes far beyond the number of HSAs that have been established. Two years ago last week,...

Law expands rights of disabled workers.(World)
December 12, 2005... Byline: BARBARA COCKBURN LONDON-Employers are barred from discriminating against workers diagnosed with HIV infection, multiple sclerosis or cancer under 2005 revisions to the United Kingdom's disability discrimination laws. In...

Materials must be suited to a diverse workforce.(Benefits Management)
December 12, 2005... Byline: MEG FLETCHER Employers with diverse workforces find they can help workers choose appropriate benefits by simplifying their benefit communication messages and using a variety of strategies and media to convey them. The goal is...

Between the Lines; Party hardly.(News)
December 12, 2005... Byline: Compiled by Joanne Wojcik Eat, drink but be wary this holiday season if you are an employer hosting any kind of party at which liquor is being served. The holiday season may herald hangovers for employers if office merrymaking...

Reforms would refine hybrid plan rules; Ask a Benefit Actuary.(Perspectives)
December 12, 2005... Byline: William J. Miner Q: I've been hearing a lot lately about proposed funding reforms. What is the good news on cash balance plans in the proposals? A: While the primary focus of the legislative activity surrounding pension reform...

NBGH/IBI joint forum attracts more than 650.(News)(National Business Group on Health)(Integrated Benefits Institute)(Brief Article)
December 12, 2005... SAN DIEGO-More than 650 people registered for the 2005 Joint Forum on Health, Productivity & Absence Management that was presented by the National Business Group on Health, which is based in Washington, and the Integrated Benefits Institute,...

Putting the word out on consumer-driven plans; How to communicate newfangled health care options? Start early.(Benefits Management)
December 12, 2005... Byline: KAREN PALLARITO Before introducing two new health benefits options-a choice of high-deductible health plans paired with health savings accounts-to its 8,500 employees, Zions Bancorporation of Salt Lake City began setting the stage...

Comings & Goings - Industry.(News)(Thomas Hurlimann, Mike Kerner, Andreas Grunbichler joins Zurich Financial Services Group )(Jeff Kaufmann and Colin Sprott joins XL Capital Ltd)(John Hines joins Vesta Insurance Group )
December 12, 2005... Insurers Switzerland-based Zurich Financial Services Group has named several executives to senior positions, effective Jan. 1, 2006: Thomas Hurlimann will become chief operating officer in ZFS' global corporate business division, a new...

TRIA measures set for compromise talks; House passes extension bill, but sunset nears.(News)(Terrorism Risk Insurance Revision Act )
December 12, 2005... Byline: MARK A. HOFMANN WASHINGTON-It's down to the wire, but there remains optimism that the federal terrorism insurance backstop will be extended before expiring on Dec. 31, even though some significant obstacles remain. The...

NAIC elects leaders, assigns controversial subject to committee.(News)(National Association of Insurance Commissioners)
December 12, 2005... Byline: MEG FLETCHER CHICAGO-The National Assn. of Insurance Commissioners last week elected state insurance regulators to its leadership ranks during its winter quarterly meeting in Chicago. Heading the Kansas City, Mo.-based...

Intense hurricane activity predicted for next year too.(News)
December 12, 2005... Byline: MARK A. HOFMANN Another unusually active hurricane season is likely to roil the Atlantic and Caribbean, storm forecasters said last week. The Colorado State University Tropical Meteorological Project, headed by noted forecaster...

Verizon retools managers' pensions; Defined benefit freeze part of $3 billion, 10-year cost cutting plan.(News)
December 12, 2005... Byline: JERRY GEISEL NEW YORK-Verizon Communications Inc. is restructuring its retirement plans for management employees, including freezing its defined benefit pension plan, as part of an effort to cut costs by $3 billion over 10 years....

Insurers, regulator clash over disability; Policy language at center of fight.(News)
December 12, 2005... Byline: JUDY GREENWALD California employers will face skyrocketing group disability insurance rates and may have difficulty finding coverage if California Insurance Commissioner John Garamendi succeeds in an effort to revise standard...

Dismissal of policyholder lawsuit sought; Brokers, insurers cite McCarran-Ferguson as bar to class action.
December 12, 2005... Byline: DOUGLAS McLEOD NEWARK, N.J.-Several dozen insurance brokers and insurers are asking a federal judge to dismiss a sweeping antitrust and racketeering suit filed by policyholders in the wake of New York Attorney General Eliot...

British Airways not liable for DVT victims.(Deep venous thrombosis)(Brief Article)
December 12, 2005... Byline: SARAH VEYSEY LONDON-British Airways P.L.C. does not have to compensate airline passengers with deep vein thrombosis, the U.K.'s highest court ruled. The House of Lords upheld lower court and appeal court decisions that, under...

2006 Risk Manager of the Year deadline extended until Dec. 23.(News)
December 12, 2005... CHICAGO-The deadline for submitting nominations for the 2006 Risk Manager of the Year competition has been extended until Dec. 23. Nomination forms are available for downloading at www.BusinessInsurance.com/RMOY or by contacting Karen...

Late News; House may delay vote on pension reform.(XL Capital Ltd. last week raised about $3.2 billion through two share offerings)(American International Group Inc will sell their stake in C. V. Starr & Co. Inc.)
December 12, 2005... The House of Representatives is unlikely to act on pension funding reform legislation this year, GOP leaders said last week. Acting House Majority Leader Roy Blunt, R-Mo., said there is "really no likelihood'' that the House will act before...

Errors and omissions.(Corrections)(Correction Notice)
December 12, 2005... An article in the Dec. 5 issue contained incorrect information about the price XL Capital Ltd. paid for Winterthur International. While the main story contained the correct price of $330 million, an accompanying article included the original...

Entry deadline nearing for two BI directories.(News)(Business Insurance )(Brief Article)
December 12, 2005... Business Insurance will publish two online directories in January. They will be available as searchable databases in the Directories area of www.businessinsurance.com. Long-Term Care Insurance Providers The Directory of Long-Term Care...

Updates; SCOR to buy Alea book in Europe.(World)(SCOR S.A. buys renewal rights of Alea Europe A.G)(Zurich Financial Services Group's Zurich Specialties London Ltd. unit closes)(Michael Walker becomes chairperson for Institute of Risk Management )
December 12, 2005... French reinsurer SCOR S.A. has agreed to buy the renewal rights to the property/casualty portfolio of Alea Europe A.G., the European subsidiary of Alea Group Holdings (Bermuda) Ltd. SCOR said that the value of the renewal rights is estimated to...

Most CFOs believe worker health affects bottom line; 60% see negative implications of continually shifting costs to third parties and employees.(News)(chief financial officers)
December 12, 2005... Byline: ROBERTO CENICEROS SAN DIEGO-Chief financial officers grasp that employee health drives absence and benefit costs and benefit managers should build on that understanding to improve their programs, research reveals. While costs...

Errors & omissions.(Corrections)(Correction Notice)
December 19, 2005... Due to a production error, a Dec. 12 story on the National Assn. of Insurance Commissioners omitted a portion of the final paragraph. The complete paragraph should read: "The current compacting states represent approximately 30% of the...

Canada DC plan rules to take effect.(World)(defined contribution )
December 19, 2005... Byline: GLORIA GONZALEZ TORONTO-A new set of regulatory guidelines codify the responsibilities of Canadian employers with defined contribution pension plans that allow participants to make investment decisions. While the guidelines...

Legal Briefs: Poor workmanship not an 'occurrence' under CGL policy.(commercial general liability )
December 19, 2005... The allegedly defective performance of a subcontractor was not an "occurrence'' within the meaning of an insured's commercial general liability insurance policies, according to the U.S. Court of Appeals for the Fourth Circuit. Miller...

Seize the chance to approach CFOs, learn language of business finance.(News)(chief financial officers)
December 19, 2005... Byline: JOANNE WOJCIK CHANDLER, Ariz.-As more and more chief financial officers become aware of how much benefit costs are chipping away at corporate profits, benefit managers are finding it increasingly necessary to learn how to speak the...

Voluntary guide targets member-choice offerings.(World)
December 19, 2005... Byline: Gloria Gonzalez The guidelines for capital accumulation plans-tax-assisted investment or savings plans that permit members to make investment decisions among two or more options offered within the plan-reflect the expectations of...

U.K. oil blast won't rock market; Operator, OIL pool likely to absorb property losses.(News)
December 19, 2005... Byline: SARAH VEYSEY and BARBARA COCKBURN HEMEL HEMPSTEAD, England-Property losses from a fire described as the largest ever in peacetime Europe are not expected to have a huge impact on the energy insurance market, and the full extent of...

PBGC head calls for funding rules reform; Executive director calls pension system 'fundamentally flawed'.(News)(Pension Benefit Guaranty Corp)
December 19, 2005... Byline: JOANNE WOJCIK CHANDLER, Ariz.-The law governing defined benefit pension plans must be changed because the federal program designed to insure those plans is now in the benefits administration business and, perhaps more importantly,...

Products & Services; CCH introduces tool for retirement plan sponsors.(News)
December 19, 2005... RIVERWOODS, Ill.-CCH Inc., a provider of employment law and human resources information and software, is offering an online tool to assist plan sponsors who are responsible for 401(k) and 403(b) plans. CCH's offering, the Plan Investment...