Business Insurance articles from December 2007

Business Insurance archives from December 2007

IRB to lose monopoly status.(International News)(IRB Brasil Resseguros)
December 3, 2007... Byline: Roberto Ceniceros SAO PAULO, Brazil-Brazil's monopoly reinsurer, IRB-Brasil Resseguros S.A, will be reduced to the status of "local reinsurer'' under the country's ongoing efforts to liberalize its reinsurance market. No...

Financial incentives boost wellness program participation; Employers must assess rewards vs. punishments and legal compliance when building wellness initiatives.(News)
December 3, 2007... Byline: JOANNE WOJCIK Whether through a discount on premium contributions or cold hard cash, employers increasingly are using financial incentives to encourage employees to adopt healthier lifestyles. Such incentives are governed by...

Buyers in Brazil expected to benefit from privatization of reinsurance; Changes in regulation could encourage formation of captives.(International News)
December 3, 2007... Byline: ROBERTO CENICEROS SAO PAULO, Brazil-The long-awaited opening of Brazil's reinsurance market to private reinsurers is expected to benefit insurance buyers and could give a boost to alternative risk transfer mechanisms, experts say....

Telling the truth is good business.(Commentary)
December 3, 2007... Byline: Douglas McLeod Pretending to be a lawyer doesn't seem like a very good career choice, but some people apparently think so. There was, for example, the recent case of Brian Valery, a former paralegal who convinced his bosses at...

Products & services.
December 3, 2007... AAIS revises compliance guide WHEATON, Ill.-The American Assn. of Insurance Services has revised and expanded its guide to state compliance requirements related to policy forms and rating information. In addition to updated information...

Gen Re finite trial gets under way; Ex-execs face charges over deal with AIG.(News)
December 3, 2007... Byline: DOUGLAS McLEOD HARTFORD, Conn.-Nearly two years after their indictment, five former executives of General Re Corp. and American International Group Inc. are about to stand trial on charges that they conspired to inflate AIG's loss...

Casualty cost of risk drops: Marsh; Softening market, other factors lead to decline, study finds.(News)(reports of Marsh Inc.)
December 3, 2007... Byline: JUDY GREENWALD Companies tend to focus too much on the fixed costs of insurance, including premiums, and not enough on the much higher variable costs, such as ultimate retained losses and related claims and handling expenses, says...

JDS found not liable for securities fraud; Verdict may push future defendants to take their cases to trial.(News)(cases of JDS Uniphase Corp.)
December 3, 2007... Byline: DAVE LENCKUS OAKLAND, Calif.-To the attorneys who litigated one of the rare securities fraud class action lawsuits to go to trial, the jury verdict in favor of defendants JDS Uniphase Corp. and four former officials last week came...

In brief.(News)(laws and rules of Florida Office of Insurance Regulation)(reports of property and casualty insurance industry)(prices of insurance policies)
December 3, 2007... Florida mulls change in reinsurer collateral The Florida Office of Insurance Regulation has issued a draft rule that gives the insurance commissioner discretion to allow some financially sound non-U.S. reinsurers to post less than 100%...

Oil pipeline explosion won't halt flow of fuel.(News)(Enbridge Inc.)
December 3, 2007... Byline: DAVE LENCKUS CLEARBROOK, Minn.-A fatal explosion on the biggest oil pipeline that supplies Canadian crude to refineries in the Midwest is not expected to result in significant delivery delays or an insured property loss. The...

Opting to play in Massachusetts; Most employers decide they'll offer health benefits under 2006 law.(News)(Brief article)
December 3, 2007... Byline: JERRY GEISEL BOSTON-Most employers with at least 11 employees in Massachusetts will offer health insurance coverage that meets state requirements rather than pay an assessment mandated under the state's health care reform law,...

SCOR arranges $237 million catastrophe bond.(International News)(Scor S.A.)(Brief article)
December 3, 2007... Byline: JUDY GREENWALD PARIS-Continuing an active year for securitization deals, SCOR S.E. last week said it has arranged a catastrophe bond that will provide it and its affiliates with an additional e160 million ($237.4 million) of...

Errors & Omissions.(Correction notice)
December 3, 2007... A story in the Nov. 26 issue, "403(b) Sponsors Face Tougher Rules,'' misspelled the name of Glenn Poehler, a principal in the Richmond, Va., office of Mercer L.L.C.

Team weighing environmental impact more often includes risk managers; Growing options, falling pricing benefit insurance buyers.(Spotlight: Environmental Risk Management)
December 3, 2007... Byline: ROBERTO CENICEROS Risk managers increasingly are in the loop when companies address their environmental liabilities, but that isn't always the case, say brokers, insurers and risk managers. During the more than 25 years that...

Judge calls for review of asbestos case filings in Delaware.(News)
December 3, 2007... Byline: DAVE LENCKUS DOVER, Del.-Delaware's top judge has asked a committee of attorneys to investigate concerns by the state's business community that asbestos personal injury attorneys are jamming the state's court system with claims by...

Brazilian risk management conference draws 300.(News)(Brief article)
December 3, 2007... Byline: Roberto Ceniceros SAO PAULO, Brazil-More than 300 risk managers and other insurance professionals registered for the VII Seminario Internacional conference, sponsored by Brazil's risk management organization, the Associacao...

Nanotechnology poses potential risks to environment, health.(Spotlight: Environmental Risk Management)(E.I. du Pont de Nemours and Co.)
December 3, 2007... Byline: GLORIA GONZALEZ Nanotechnology holds great promise for developing new products, but it is viewed by the insurance industry as an emerging risk because of its possibly harmful impact on human health and the environment. With...

RISK CONSIDERATIONS.(Spotlight: Environmental Risk Management)(E.I. du Pont de Nemours and Co. and Environmental Defense )(Brief article)
December 3, 2007... E.I. du Pont de Nemours & Co. and Environmental Defense released the Nano Risk Framework this summer to help organizations evaluate and address the potential risks of nanoscale materials. The framework offers guidance on key questions an...

Canadian city finds wildfires tilt odds heavily in favor of flooding in the future.(Spotlight: Environmental Risk Management)
December 3, 2007... Byline: GLORIA GONZALEZ The largest wildfire loss in Canada's history-a devastating 2003 event that some observers attributed to climate change-convinced Kelowna, British Columbia, to explore ways to manage the aftermath. City...

Employer data quantifies value of wellness programs.(News)
December 3, 2007... Byline: Joanne Wojcik Perhaps the most significant difference between yesterday's and today's wellness movement is the science behind it. Employers that are just now embarking on the wellness path are doing so methodically, collecting...

WELLNESS PROGRAM RULES.(News)(Brief article)
December 3, 2007... Nondiscrimination rules governing wellness program incentives stemming the Health Insurance Portability and Accountability Act: * The incentive or penalty cannot exceed 20% of the cost of employee-only health care coverage. * The...

Weighing wellness; Programs redesigned to broaden appeal.(News)(health aspects of employers)
December 3, 2007... Byline: JOANNE WOJCIK While they still may include the concepts of holistic health, wellness programs are being reinvented and repackaged to appeal to the masses. For starters, employers are using more down-to-earth terminology like...

Deja vu all over again with TRIA extension.(Opinions)(Brief article)
December 3, 2007... SO CLOSE, YET so far away. That's the place in which proponents of a continued federal terrorism insurance backstop find themselves less than a month before the program is slated to expire. It's similar-but fortunately not identical-to the...

P/C insurer profits rise for first nine months; But softer rates likely to dampen results in '08.(News)(Financial report)
December 3, 2007... Byline: JUDY GREENWALD A light catastrophe year and the impact of past rate hikes means the U.S. commercial property/casualty insurance industry is likely to report strong 2007 results, observers say. But continuing rate declines are...

Trial of Gen Re execs may shed light on deal.(Opinions)(American International Group Inc. and General Re Corp.)(Brief article)
December 3, 2007... JURY SELECTION is slated to begin today in what may be the insurance industry's trial of the century: former executives facing criminal fraud charges over a finite reinsurance deal between American International Group Inc. and General Re Corp....

Suit claims insurance for churchgoers is biased and unlawful.(News)(cases of West Des Moines and GuideOne Mutual Insurance Co.)(Brief article)
December 3, 2007... Two fair-housing groups have filed a lawsuit against West Des Moines, Iowa-based insurer, GuideOne Mutual Insurance Co., alleging that the insurer offers and advertises its homeowners insurance products in a discriminatory manner based on...

Playing hooky goes high-tech.(End Page)(reports of CareerBuilder Inc. on office absenteeism )(Brief article)
December 3, 2007... Has your nasty roommate locked all your clothes in the shed out of spite? Have you met a movie star and plan to spend the day with him? Those were real excuses that employees gave their employers when calling in sick, according to...

Backstop uncertainty not roiling renewals; Most optimistic that program will be extended.(News)
December 3, 2007... Byline: MARK A. HOFMANN The federal terrorism insurance backstop may be slated to expire in less than a month, but panic has yet to hit the terrorism insurance marketplace. In fact, observers remain reasonably optimistic that lawmakers...

CIGNA's Great-West buy boosts reach, members; $1.9 billion purchase increases presence in Northwest region.(News)(CIGNA Corp. and Great-West Healthcare)
December 3, 2007... Byline: KRISTIN GUNDERSON HUNT PHILADELPHIA-Hoping to better penetrate the small-group business market as well as expand its geographical reach, CIGNA Corp. has agreed to acquire Great-West Healthcare, a division of Great-West Life &...

Insurance cards too bulky for New Jersey lawmaker.(End Page)(Brief article)
December 3, 2007... Oversized auto insurance cards are driving a New Jersey legislator to action. Assemblyman Patrick Diegnan, D-Middlesex, introduced a bill last month that would require auto insurers to provide wallet-size insurance cards plus the larger...

Greenhouse gases inflate exposure potential; Analyzing and disclosing impact of emissions is a rapidly moving, sometimes fuzzy target.(Spotlight: Environmental Risk Management)
December 3, 2007... Byline: SALLY ROBERTS Corporate America faces a myriad of potential perils associated with climate change and risk managers need to educate themselves about the possibilities and what they can do to manage them, experts say. Climate...

Cheese maker, heating oil shipper share same concern: unexpected weather.(Spotlight: Environmental Risk Management)(Leprino Foods Co.)
December 3, 2007... Byline: Sally Roberts More extreme weather as a result of global warming tops the list of concerns for risk managers of two disparate businesses located in entirely different parts of the United States. "What keeps me awake at night''...

Climate change issues; Questions & answers.(Spotlight: Environmental Risk Management)(Interview)
December 3, 2007... Byline: Evan Mills Evan Mills is a staff scientist at the U.S. Department of Energy's Lawrence Berkeley National Laboratory, one of the world's leading research centers on energy and environment. Mr. Mills works in the areas of energy...

Daredevil, hip hop artist settle trademark lawsuit.(End Page)(Brief article)
December 3, 2007... Evel Knievel and Kanye West struck a deal. The agreement was finalized before the death of Mr. Knievel, which was announced November 30. A meeting between the motorcycle daredevil and the hip hop star reportedly settled a lawsuit over the...

Urban squeeze builds fresh interest in redeveloping contaminated land; Changes in laws, demographics, coverage options ease brownfield worries.(Spotlight: Environmental Risk Management)
December 3, 2007... Byline: KRISTIN GUNDERSON HUNT With a trend toward urban revitalization on the rise and many cities lacking the space for fresh development, brownfield sites have become increasingly popular to develop despite the risks involved with their...

On the web.
December 3, 2007... SPECIAL SERIES "Weighing wellness' series has extras online A special three-part series written by Business Insurance Senior Editor Joanne Wojcik traces the history of the wellness movement from its initial inception through legal...

Online Poll at www.businessinsurance.com.(Opinions)
December 3, 2007... How much do wellness programs reduce corporate health care costs? Significantly: 15.2% Somewhat: 27.1% Very little: 46.5% Not at all: 10.2% Next week's poll: Will Congress manage to extend the terrorism insurance backstop...

Workplace wellness.(News)(Sprint Nextel Corp.)(International Business Machines Corp.)
December 10, 2007... The following are profiles of longstanding wellness initiatives at two employers that have endeavored to create a culture of wellness within their organizations. Additional company profiles on Molson Coors Brewing Co. and Intel Corp. are...

'History's Business' profiles innovations of FM Global.(End Page)(Brief article)
December 10, 2007... The role of insurance in the growth of the U.S. economy may not be the stuff of high drama. In fact, it often receives short shrift in history discussions. But on Dec. 16, that will change a bit as the History Channel will air an interview with...

NAIC takes limited step toward regulatory reform; Reinsurance modernization framework adopted.(News)(National Association of Insurance Commissioners)
December 10, 2007... Byline: MEG FLETCHER HOUSTON-The National Assn. of Insurance Commissioners last week inched closer to major reform of U.S. reinsurance regulation when the task force overseeing the reform efforts voted to adopt a framework for change. ...

N.Y. deal would bail out Executive Life; P/C insurers, life insurance guaranty funds to offset $2B deficit.(News)
December 10, 2007... Byline: DOUGLAS McLEOD NEW YORK-New York insurance regulators have brokered a deal that would raise enough cash from life insurance guaranty funds and property/casualty insurers to offset a projected $2 billion deficit at Executive Life...

Market moves.(merger between John L. Wortham & Son L.P and AGA Inc.,)(Marsh & McLennan Cos.management of offices)(acquisition of Blue Bell Funding Inc. by Companion Life Insurance Co)
December 10, 2007... Wortham adds Dallas brokerage to fold DALLAS-Houston-based brokerage John L. Wortham & Son L.P. has merged with Texas AGA Inc., a Dallas-based brokerage specializing in explosives, oil and gas, chemical, railroad and other...

Health, productivity efforts rest on quality of statistics; Boom in demand for warehouses to hold growing amounts of benefits-related data draws diverse group of providers.(Benefits Management)
December 10, 2007... Byline: LEIGH PAGE Data-mining of claims and other medical data is becoming an essential tool for employers that want to improve employee health and productivity. The numbers can be sliced and diced to identify employees with the greatest...

Meeting of the minds: More employers utilize outside expertise; Education and modeling moving to the forefront in benefits strategies.(Benefits Management)
December 10, 2007... Byline: JOANNE WOJCIK Stepped-up employer demand for help in addressing rising health care costs coupled with new federal rules governing retirement plan administration are keeping benefit consultants on their toes. To slow the rate of...

Does pension plan comply with new law?(Benefits Management)
December 10, 2007... Byline: Joanne Wojcik In response to passage of the federal Pension Protection Act, employers are looking to their consultants for help in determining whether their defined benefit plans meet the new federal funding thresholds. ...

Retailer battles rival over Rx payment rate; Fight pits Walgreens against CVS-owned PBM.(News)
December 10, 2007... Byline: GLORIA GONZALEZ DEERFIELD, Ill.-A reimbursement dispute between Walgreens Co. and CVS Caremark Corp. is the first major skirmish between a pharmacy benefit manager and a retailer since the CVS Caremark merger, but it is likely not...

Accurate documentation crucial to limit hospital med mal risks.(International News)
December 10, 2007... Byline: GLORIA GONZALEZ GRAND CAYMAN, Cayman Islands-Having proper documentation of medical events is critical for health care captive owners seeking to mitigate malpractice liability risks, experts say. The Eastern Connecticut Health...

Cayman captive conference attracts more than 800.(International News)(Conference news)(Brief article)
December 10, 2007... Byline: Gloria Gonzalez GRAND CAYMAN, Cayman Islands-More than 820 captive owners and service providers attended the 2007 Cayman Captive Forum in Grand Cayman, Cayman Islands, on Nov. 27-29. The conference featured sessions on the...

How to kiss off holiday liability at work parties.(End Page)(Brief article)
December 10, 2007... Holiday parties can be a potential liability land mine for employers. The following are suggestions from Atlanta-based law firm Fisher & Phillips L.L.P. as to how companies can throw a party and reduce their risk of getting sued: * If...

Why Massachusetts has reason to celebrate.(Opinions)(Brief article)
December 10, 2007... MASSACHUSETTS OFFICIALS and others involved in last year's successful effort to move the state closer to universal health care coverage have a good reason, as they did last week, to crow about the progress that has been made. Prior to...

Marsh taps alumnus to lead brokerage; Background should help new CEO succeed where predecessor failed, observers say.(News)
December 10, 2007... Byline: SALLY ROBERTS NEW YORK-Marsh & McLennan Cos. Inc. is banking on a former American International Group Inc. executive to do what his predecessor could not-lead the brokerage back to prosperity. Daniel S. Glaser, who today takes...

New chief a Marsh veteran.(News)(Daniel S. Glaser appointed to Marsh Inc.)(Brief article)
December 10, 2007... Byline: Sally Roberts NEW YORK-Although Daniel S. Glaser comes to Marsh Inc. from American International Group Inc. in London, he has firsthand knowledge of the New York-based brokerage. Mr. Glaser, 47, began his insurance career as a...

Cayman starts search for insurance regulator.(International News)(Cayman Islands Monetary Authority)
December 10, 2007... Byline: Gloria Gonzalez GRAND CAYMAN, Cayman Islands-The regulatory agency overseeing captive insurance companies in the Cayman Islands is undergoing another leadership change, although regulators say that will not hamper the growth of the...

Employers spot link between health, profit; Business issues drive efforts to ingrain wellness.(News)
December 10, 2007... Byline: JOANNE WOJCIK Weighing wellness, Part Three Out of the growing realization that their future competitiveness depends on keeping health care costs under control, more employers are striving to create a "culture of wellness'' in...

Client expectations high for Marsh exec Glaser.(Opinions)(role of Daniel Glaser)(Brief article)
December 10, 2007... WE WISH DANIEL GLASER well as he steps in to take the helm at Marsh Inc. He has quite a task ahead of him as he attempts to turn around the fortunes of the world's largest insurance brokerage. Although it is more than three years since...

Bigger is not always better with benefit consulting firms; Smaller consultants emphasize importance of strong client relationships, specialty practices and cost-effective services.(Benefits Management)
December 10, 2007... Byline: LOUISE KERTESZ Smaller benefit consulting firms say they offer employers advantages over their larger counterparts. The smaller firms say they are cost-effective, entrepreneurial, relationship-oriented and provide principals to...

House revises Senate's version of backstop; Chamber could vote this week on measure to extend terrorism reinsurance program for seven years.(News)
December 10, 2007... Byline: MARK A. HOFMANN WASHINGTON-The House of Representatives could vote this week on a bill that would extend the federal terrorism insurance backstop for seven years. The measure is an amended version of the bill passed by the...

State officials afire over R.J. Reynolds' 'deadly charm' magazine ad.(End Page)(cases of R.J. Reynolds Tobacco Co.)(Brief article)
December 10, 2007... Cartoons are supposed to make you laugh, or at least crack a smile. But Maryland Attorney General Douglas Gansler found absolutely nothing funny about cartoons he saw in an advertisement in the 40th anniversary issue of Rolling Stone. In...

Supreme Court hears oral arguments in pre-emption case; Justices weigh how broadly federal statue shields medical devices.(News)(cases of Donna S. Riegel with Medtronic Inc.)
December 10, 2007... Byline: MARK A. HOFMANN WASHINGTON-How the Supreme Court deals with a case that asks how broadly a federal statute governing medical devices pre-empts state product liability suits could have an impact on other products as well, say some...

Airlines unlikely to face higher rates in 2008; Underwriters cutting rates even after first loss in five years.(News)
December 10, 2007... Byline: DAVE LENCKUS A fatal crash of a passenger jet in Turkey Nov. 30 does not materially hurt the remaining renewals for airline liability and hull coverage, even though the loss further deteriorates underwriters' poor 2007 results,...

Showing up for work may be health hazard.(Commentary)(analysis of workplace injuries)
December 10, 2007... Byline: Paul Winston Working for a living just got a little more hazardous. In recent weeks, however, two fairly common work situations have been tied to illnesses and fatalities, which could result in dramatic changes in some...

In brief.(News)(prediction of hurricane by Department of Atmospheric Science)(reports of General Re Corp.)(stock prices of American International Group Inc.)
December 10, 2007... Storm team predicts seven hurricanes in '08 An early forecast for the 2008 Atlantic hurricane season issued Friday by the Department of Atmospheric Science at Colorado State University predicts 13 named storms with seven becoming...

Ohio state legislators reject pregnancy discrimination rule; State commission to fiscally analyze pregnancy leave plan.(News)
December 10, 2007... Byline: JUDY GREENWALD COLUMBUS, Ohio-Employers in Ohio last week received at least a 90-day reprieve from implementing a proposed pregnancy discrimination regulation that business groups say could be costly and onerous to administer. ...

Wellness plans depend on top management.(News)(Molson Coors Brewing Co.)
December 10, 2007... Byline: Joanne Wojcik Twenty-five years ago, Bill Coors, then-chief executive officer of Molson Coors Brewing Co., found himself feeling run down and lethargic, so he consulted a series of doctors until he ended up at the Mayo Clinic where...

PREGNANCY BIAS RULE.(News)(Brief article)
December 10, 2007... Key provisions of the proposed Ohio pregnancy discrimination regulation include: * Employers that offer less than 12 weeks of paid or unpaid maternity leave, when medically recommended, will be presumed to have engaged in unlawful sex...

MapQuest trail leads directly to suspect in fraud case.(End Page)(Brief article)
December 10, 2007... If filing a fraudulent claim, it helps not to leave a paper trail. Craig C. Wilson found that out the hard way last week when he was sentenced to five years probation in Monroe County, N.Y., for filing a fraudulent insurance claim to obtain...

Claims service quality varies widely: Study; Policyholders report mixed experience among P/C insurers.(News)
December 10, 2007... Byline: REGIS COCCIA Companies large and small are increasingly concerned about the quality of claims service they receive from their insurers, a new study found. Research released this month by Greenwich Associates of Greenwich,...

On the web.
December 10, 2007... SPECIAL SERIES Entire wellness series available online "Weighing Wellness," a special three-part series written by Business Insurance Senior Editor Joanne Wojcik, traces the history of the wellness movement from its initial inception...

Online Poll at www.businessinsurance.com.(Opinions)
December 10, 2007... Will Congress manage to extend the terrorism insurance backstop before its Dec. 31 expiration? Yes, but at the last minute. - 75.0% Yes, with time to spare. - 3.1% No, Congress will not act in time. - 21/9% Next week's poll:...

Industry warming up to 'green' strategies.(Commentary)(environmental aspects of Allstate Fire & Casualty Insurance Co. )
December 17, 2007... Byline: Joanne Wojcik If a new tree grows in the rain forest, there's a strong possibility that Allstate Fire & Casualty Insurance Co. will have had a hand in planting it. For every driver in Colorado and Ohio who signs up for...

Technology heightens risks for companies during food recalls; Recovery from tarnished reputations due to immediate dissemination of information can be difficult.(Sector Briefing: Agriculture & Food Production)
December 17, 2007... Byline: TONY DOWDING Glass contamination in baby food and pet food; E. coli bacteria in bags of spinach; benzene in soft drinks; botulism in hot chili sauce; and a bubonic plague-type virus in yogurt-these are not taken from the latest...

5. Private equity firms continue acquisitions.(Year in Review: Risk Management)(USI Holdings Corp.)(Goldman Sachs and Co.)(Hub International Ltd.)(Brief article)
December 17, 2007... Byline: Roberto Ceniceros During the first half of 2007, private equity firms acquired several retail and wholesale brokers that had already experienced large growth due to their own acquisitions of other brokers. In January,...

2. Backstop extension stalls in Congress.(Year in Review: Risk Management)(political aspects of terrorism insurance)(Brief article)
December 17, 2007... Byline: Mark A. Hofmann Extending the federal terrorism insurance backstop looked like a slam dunk at the beginning of 2007. The new chairmen of the relevant committees in both houses of Congress-Senate Banking, Housing and Urban Affairs...

Errors & Omissions.(Correction notice)
December 17, 2007... A story in the Dec. 10 issue, "Bigger Is Not Always Better With Benefit Consulting Firms,'' misstated the size of company that New York-based Frenkel Benefits L.L.C. focuses on. Frenkel services companies with 50 to 10,000 employees and focuses...

1. Buyers experience low P/C rates.(Year in Review: Risk Management)(Brief article)
December 17, 2007... Byline: Judy Greenwald Risk managers enjoyed lower property/casualty rates this year as, for the second straight year, insurers saw no major catastrophes and strong financial results across all sectors. The good news began as early as...

Growers rely on coverage, risk management to protect crops; Federal insurance programs, diversification of crops help farmers stay in business by spreading their risk.(Sector Briefing: Agriculture & Food Production)
December 17, 2007... Byline: LOUISE ESOLA Among the riskiest of businesses is one that puts most of its successes and failures in the hands of nature: farming. Both large and small growers nationwide face perils-experts point to weather, from drought to...

Tokio Marine to buy Lloyd's insurer Kiln.(International News)(Tokio Marine and Fire Insurance Company Ltd. and Lloyd's of London)(Brief article)
December 17, 2007... Byline: STUART COLLINS LONDON-Tokio Marine & Nichido Fire Insurance Co. Ltd., part of Tokyo-based Millea Holdings Inc., has agreed to buy Lloyd's of London insurer Kiln Ltd. for 442.2 million pounds ($897.9 million) in cash. The...

Wacky contest highlights laughable label warnings.(End Page)
December 17, 2007... For the past 11 years, the Novi, Mich.-based Michigan Lawsuit Abuse Watch has conducted a Wacky Warning Label Contest. Although the winners may bring a chuckle to readers-and this year's winners are no exception-the event has a serious purpose...

U.K. summer floods cause nearly $6B in claims for insurers; Industry seeks long-term plan on flood management.(International News)
December 17, 2007... Byline: BEN NORRIS LONDON-Flooding in the United Kingdom earlier this year, which resulted in insurance claims of about 3 billion pounds ($6.1 billion), were primarily the result of surface water flooding exacerbated by poor management of...

Roundtable's support should help OFC effort.(Opinions)(reports of insurance industry)(Brief article)
December 17, 2007... SUPPORTERS OF OPTIONAL federal charters for insurers and producers got an early Christmas present recently when the influential Business Roundtable threw its support to the idea. Such support isn't to be taken lightly. The Washington-based...

Deal on TRIA likely despite House vote; Final version expected to follow Senate model.(News)(laws and rules of Congress. House)
December 17, 2007... Byline: MARK A. HOFMANN WASHINGTON-Supporters of the federal terrorism insurance backstop remain optimistic the program will remain in place after its slated Dec. 31 expiration despite House of Representatives approval of an extension...

Ex-GE exec presses fresh Six Sigma use.(End Page)(General Electric Co.)(Brief article)
December 17, 2007... If you're a former General Electric Co. reinsurance executive, what do you call the California vineyard you've always wanted to own? Six Sigma, naturally. Kaj Ahlmann, former CEO of GE's Employers Reinsurance Corp., bought his 4,300-acre...

Managed care providers' nine-month profits rise; Rate increases remain in 6% to 8% range for most companies.(News)
December 17, 2007... Byline: GLORIA GONZALEZ Major managed care companies posted solid profits in the first nine months of 2007, with commercial health care cost and premium increases expected to remain stable for the rest of the year. Pricing is becoming...

Newsmakers 2007.(Year in Review: Risk Management)(Richard Blumenthal sues Marsh & McLennan Companies Inc.)
December 17, 2007... Connecticut Attorney General Richard Blumenthal not only kept industry investigations alive in 2007, he moved the focus away from insurers and brokers and on to the reinsurance brokerage industry. In October, Mr. Blumenthal sued Guy Carpenter &...