Business Insurance articles from February 2002

Business Insurance archives from February 2002

Willis working to compete on a worldwide scale; Broker has built global operation almost from scratch.(Willis Group Holdings Ltd.)(Brief Article)
February 4, 2002... Much to the chagrin of the world's third-largest broker, when one thinks of a global insurance broker, Marsh & McLennan Cos. Inc. and Aon Corp. typically come to mind first. And why wouldn't they? Marsh and Aon spent much of the 1990s...

Strong direct writing model attracts European captives.(Dublin, Ireland, attracts captive insurance companies)(Brief Article)(Industry Overview)
February 4, 2002... DUBLIN, Ireland-Despite a slight dip in the number of captives registered there, Dublin's ability to provide direct-writing captives and fronting facilities, coupled with hardening insurance rates and Ireland's membership of the European Union,...

Hard market making agents turn to E&S industry.(independent insurance agents turn to excess and surplus lines)
February 4, 2002... Although independent agents may have looked forward to the arrival of the hard market, many are not prepared for the difficulties that accompany such a change. A reduction in available coverage is one of the main challenges independent...

Duchy's reforms attract new interest from Europe.(Luxembourg could attract more captive insurers)(Brief Article)(Industry Overview)
February 4, 2002... LUXEMBOURG-Although the total number of captives in Luxembourg increased by just two last year, to 233, managers now are seeing an increase in the number of inquiries from European companies. Interest in captive formation increased during...

A/BT Briefs.(Brief Article)
February 4, 2002... ChoicePoint stops selling `shopping dates' ALEXANDRIA, Va.-In a letter sent last month to the Independent Insurance Agents of America Inc., ChoicePoint Inc. said that it would cease selling lists of policyholder ``shopping dates.'' The...

Hard market fuels growth at largest captive domicile.(Bermuda captive managers report year 2001 growth)(Industry Overview)(Statistical Data Included)
February 4, 2002... HAMILTON, Bermuda-A busy year became much busier last fall for Bermuda's captive managers. Captive inquiries have poured into the domicile since Sept. 11 as insurance buyers search for alternatives to high rates in the commercial market....

Captive growth continues as market hardens in 2001.(Brief Article)(Statistical Data Included)
February 4, 2002... As the property/casualty insurance market hardened in 2001, captive industry observers expected the world's domiciles to continue to attract captives, and they were right. At the end of 2001, the 42 domiciles that Business Insurance tracks...

Guernsey count increases, despite housecleaning.(number of captives increase)(Statistical Data Included)
February 4, 2002... ST. PETER PORT, Guernsey-After losing five captives in the first quarter of 2001, Europe's largest captive domicile became uncharacteristically pessimistic about its prospects for the year. A combination of circumstances led to a turnaround...

Parliament criticizes insurers, manufacturers for delaying payments; U.K. faults asbestos claim fight.
February 4, 2002... LONDON-Manufacturers and insurers fighting in court over payment of asbestos claims ``are engaged in corporate gamesmanship on a massive scale to avoid their liabilities,'' a British member of Parliament charges. Speaking during a special...

Strong 2001 growth seen, with more in the pipeline.(Vermont could set record for captive formations in 2002)(Industry Overview)
February 4, 2002... MONTPELIER, Vt.-As insurance buyers respond to a hardening market, Vermont posted its third-best year in terms of new captive formations in 2001 and may well be poised for a record year in 2002. The state licensed 38 new captives last year....

Hawaii sees premiums rise as property risks added.
February 4, 2002... HONOLULU-Hawaii's captive industry continues to enjoy steady growth. Last year, Hawaii's captive roster increased by 13, bringing the number of licensed captives to 87. And captive premium volume soared, climbing to an estimated $430...

Market, regulatory changes likely to boost demand; Cayman captive managers poised for growth, particularly from buyers of medical malpractice insurance.(Industry Overview)
February 4, 2002... GRAND CAYMAN, B.W.I.-Buoyed by hardening property/casualty rates, the captive insurance market in the Cayman Islands was already experiencing impressive growth in 2001 prior to the events of Sept. 11. But as rate firming continued through...

Manx captive industry upbeat about its prospects.(Isle Of Man captive insurance companies)(Brief Article)(Industry Overview)
February 4, 2002... DOUGLAS, Isle of Man-Although the Isle of Man may be better known for its annual motorcycle racing championships than its insurance facilities, captive managers are revving up for an acceleration in captive growth on the island. Having...

BVI revamps its regulatory structures, reviews laws.(British Virgin Islands restructures laws regarding captive domiciles and parents)(Brief Article)(Statistical Data Included)
February 4, 2002... TORTOLA, British Virgin Islands-The British Virgin Islands again saw steady growth in captives in 2001, and the government has taken steps to make the domicile even more attractive to captive parents. The BVI government last month completed...

Products & Services: CitiStreet forms new unit.
February 4, 2002... QUINCY, Mass.-CitiStreet, the joint benefit outsourcing unit of Citigroup Inc. and State Street Corp., is forming a new unit to provide a full range of benefit consulting services to employers. CitiStreet Consulting Services will be based...

Taking Stock: Time for insurers to take charge of balance sheet.(Column)
February 4, 2002... We are again going through the fourth quarter and year-end ritual when insurers do their mea culpa. This time around, the housecleaning dynamics are being driven by the lingering effects of the Sept. 11 loss and the want and need of many...

Barbados tax issues holding back expansion.(Brief Article)(Statistical Data Included)
February 4, 2002... BRIDGETOWN, Barbados-Two tax-related issues continued to hold back captive growth in Barbados last year, though captive managers are hopeful both will be resolved this year. Barbados added only seven new exempt insurance companies in 2001,...

Increases in litigation, insurance costs prompt calls for Australian tort reform.(Brief Article)
February 4, 2002... SYDNEY, Australia-Risk managers, insurers and a government minister are calling for action to halt rising public liability insurance premiums and court awards in Australia. Risk managers and small-business owners are facing rocketing...

World Updates.
February 4, 2002... ABB doubles asbestos claims charge Swiss-Swedish engineering company ABB Asea Brown Boveri said that a surge in asbestos-related claims against a U.S. subsidiary has led to it make an additional charge of $470 million to 2001 earnings,...

HIH collapse may draw Australian applicants.(Australian insurer HIH Insurance)
February 4, 2002... SINGAPORE-The Singaporean government body responsible for regulating captives expects increased applications from Australian companies hoping to minimize the impact of the insurance fallout from the Sept. 11 terrorist attacks and the collapse...

911 dispatchers not immune to lawsuits: California court.(Brief Article)
February 4, 2002... SAN FRANCISCO-Government agencies can be held liable for the actions of their 911 emergency medical dispatchers and are not entitled to the limited immunity granted emergency rescue personnel such as firefighters, a California state appellate...

PBGC chief eyes strengths, threats; No premium hikes planned.(Pension Benefit Guaranty Corp. says it can handle recent and anticipated claims)(Brief Article)
February 4, 2002... WASHINGTON-The Pension Benefit Guaranty Corp. is financially strong enough to absorb rising losses-including what could be its biggest ever-without raising premiums, according to the agency's new head. Over the last year, the terminations...

Surety bond market reels; Big losses mean tighter market for buyers.(bankruptcy aspects)(Statistical Data Included)
February 4, 2002... The bankruptcy filings of Enron Corp. and Kmart Corp. in recent weeks will exacerbate the pricing and capacity problems that are already plaguing companies that rely on surety bonds to back their self-insurance arrangements, several brokers...

Turks & Caicos Islands adding captives, managers.(Brief Article)
February 4, 2002... PROVIDENCIALES, Turks & Caicos Islands-The are betting that the addition of new captive managers in the domicile will boost captive growth after a slow 2001. KPMG Insurance Managers Ltd., an affiliate of international accounting firm KPMG...

Limits on disability benefits and attorneys fees at issue; Workers comp payers, lawyers battling over Florida reforms.(Brief Article)
February 4, 2002... TALLAHASSEE, Fla.-Insurers and employers are squaring off against trial lawyers over proposed Florida workers compensation reforms that would limit the payment of disability benefits and attorneys fees. A coalition of insurance trade groups...

Editorial: Captive market flourishing.(Brief Article)(Editorial)(Statistical Data Included)
February 4, 2002... CAPTIVE INSURANCE is alive and well-and thriving. In fact, as this week's special report shows, interest in creating new captives and expanding the amount of coverage funded through captives is accelerating worldwide, fueled by hardening...

A groundhog at Ground Zero.(World Trade Center and Pentagon attacks cause insurance premium increases)(Brief Article)(Column)
February 4, 2002... As a burrowing rodent, I thought I would be immune from the conflicts and strife afflicting the wider world-the world above ground. I, Punxsutawney Phil, knew that I had various natural enemies in the animal kingdom, and I knew that a few...

Editorial: Congress seeks proof from insurers.(regarding lack of terrorism coverage effecting business)(Brief Article)(Editorial)
February 4, 2002... SOME FOLKS ON CAPITOL HILL must have learned something from the insurance industry. Just as an insurer demands proof of a loss before it pays a claim, lawmakers appear to be taking that practice a step further. They want specific evidence...

Greeting the new Chinese opportunities; WTO membership means greater accessibility, predictability.(World Trade Organization)(Statistical Data Included)
February 4, 2002... China's accession to the World Trade Organization is a landmark development for brokers, giving them greater access to a potentially enormous market and eliminating uncertainty about how they will be allowed to operate in the country. ...

Former health plan operator faces federal fraud indictment.(John B. Hyde)(Brief Article)(Statistical Data Included)
February 4, 2002... SAN FRANCISCO-A former health plan operator with a history of regulatory troubles has been indicted by a federal grand jury on charges of pocketing more than $1.2 million in premiums while running a bogus self-funded health insurance program...

Enron claims are latest factor to tighten E&O market; Auditors' E&O costs add up.(errors and omissions liability)(Statistical Data Included)
February 4, 2002... Professional liability insurance costs for accountants are set to soar in the wake of allegations that negligence by Arthur Andersen L.L.P. may have contributed to the collapse of Enron Corp. Claims against the auditor following the...

For the Record.(insurance industry business)(Brief Article)(Statistical Data Included)
February 4, 2002... U.K.'s FSA scrutinizing financial reinsurance The U.K. Financial Services Authority is increasing its scrutiny of financial reinsurance after two high-profile insurer failures. At the London-based Assn. of Insurance & Risk Managers' annual...

Winter Olympics organizers insured for terrorism risks; Insurance is in place; let the Games begin.(Salt Lake City 2002 Olympic Winter Games)(Brief Article)(Statistical Data Included)
February 4, 2002... SALT LAKE CITY-While businesses around the world are finding it increasingly difficult to obtain coverage against terrorist acts, the 2002 Olympic Winter Games crossed that finish line long ago. Much of the property/casualty coverage for...

Errors & omissions.
February 4, 2002... * The Dublin domicile profile on page 21 mistakenly refers to the Industrial Development Agency of Ireland. The IDA recently changed its name to the Investment and Development Agency. * A Jan. 28 chart illustrating the performance of the...

Employers seek modifications in 401(k) catch-up rules.(Brief Article)(Statistical Data Included)
February 4, 2002... WASHINGTON-Business groups are pressing the Internal Revenue Service for additional modifications to its proposed 401(k) plan catch-up contribution rules to ensure that employers are able to offer the feature to most of their employees. In...

Ecuadoran airline insured in London for crash.(Brief Article)(Statistical Data Included)
February 4, 2002... TULCAN, Ecuador-The Ecuador-based airline TAME has $300 million of liability insurance to cover losses from the crash last week of a Boeing 727-100 jet with 92 people on board near an extinct volcano on the Ecuador-Colombia border, according to...

California court says employer may be liable for 'affirmative contribution' to injury; Court opens workers comp loophole.(workers compensation, company negligent for contractor's accident on if affirmatively contributed)(Brief Article)
February 4, 2002... SAN FRANCISCO-Two rulings issued late last week by California's Supreme Court may create new uncertainty over whether employers can be sued for work-related injuries sustained by a contractor's employees. The high court, in the two...

Near North premium trust accounts under scrutiny ; CEO quits after fraud arrest.(Michael Segal resigns)(Statistical Data Included)
February 4, 2002... CHICAGO-While a major insurance broker rearranges its top leadership following the arrest of its chief executive on federal fraud charges, the issues behind the charges are raising questions about premium trust accounts and the matter of agents...

Late News.(insurance industry business)(Statistical Data Included)
February 4, 2002... Bush proposes 401(k) changes Responding swiftly to the Enron Corp. pension debacle, the Bush administration last week proposed a series of reforms to 401(k) plan regulations. Under the Bush proposal, employees could sell...

Captive managers directory available online at Businessinsurance.com.(Brief Article)
February 4, 2002... The 2002 Directory of Captive Management Companies will be the first Business Insurance directory to appear online in its entirety. Full directory listings for captive managers will be available in the Directories area of...

Directory of captive managers available on BI's Web site.(Brief Article)
February 4, 2002... The directory of captive management companies will be the first to appear entirely online. The full directory listings for captive managers will be available in the directories area of www.businessinsurance.com. The directory will be searchable...

Directory of world captive domiciles.(Brief Article)
February 4, 2002... The charts that follow were developed by Business Insurance to help risk managers track developments and regulatory requirements in captive insurance domiciles worldwide. The information is provided only for domiciles with specific...

Hard market fuels growth at largest captive domicile.
February 4, 2002... HAMILTON, Bermuda-A busy year became much busier last fall for Bermuda's captive managers. Captive inquiries have poured into the domicile since Sept. 11 as insurance buyers search for alternatives to high rates in the commercial market....

Strong direct writing model attracts European captives.(Dublin is attractive for insurance companies)(Brief Article)
February 4, 2002... DUBLIN, Ireland-Despite a slight dip in the number of captives registered there, Dublin's ability to provide direct-writing captives and fronting facilities, coupled with hardening insurance rates and Ireland's membership of the European Union,...

Winter Olympics organizers insured for terrorism risks; Insurance is in place; let the Games begin.(Brief Article)
February 4, 2002... SALT LAKE CITY-While businesses around the world are finding it increasingly difficult to obtain coverage against terrorist acts, the 2002 Olympic Winter Games crossed that finish line long ago. Much of the property/casualty coverage for...

Comings & Goings.
February 11, 2002... Brokers: Construction Insurance Partners, a new insurance brokerage in St. Louis specializing in controlled insurance programs, has made four senior executive appointments: * John J. Campbell, formerly executive vp and national wrap-up...

Report forecasts E.U. pension spending.(Brief Article)(Statistical Data Included)
February 11, 2002... LONDON-Most European Union countries need to better address growing pension problems brought on by demographic changes, according to a recent report. The report, issued by the European Union's Economic Policy Committee, shows that most...

Health plan ruling criticized; High court narrows right to recovery.
February 11, 2002... WASHINGTON-A U.S. Supreme Court ruling that restricts health plans' recovery rights against plan participants who obtain third-party damages to cover medical costs could drive up plan costs and lead to long benefit delays and coverage...

ACE, XL near deal on WTC; Their cover of Silverstein defined occurrence.(Brief Article)
February 11, 2002... NEW YORK-ACE Ltd. and XL Capital Ltd. are close to a settlement with World Trade Center leaseholder Silverstein Properties Inc. in which they would pay single occurrence limits totaling $366 million for the WTC's destruction. Silverstein...

Court allows bias lawsuit to proceed.(Federal appellate court in California)(Brief Article)
February 11, 2002... SAN FRANCISCO-A federal appellate court in California has ruled that an arbitration clause that last year was upheld by the U.S. Supreme Court violates California law and is invalid. Last March, the Supreme Court ruled unanimously in...

Wal-Mart offers employees health premium option.(Brief Article)
February 11, 2002... BENTONVILLE, Ark.-Wal-Mart Corp. is giving its employees the option of using part of the company's annual contribution to their 401(k) plan benefits to pay for increases in health plan premiums. In the company's benefits handbook for 2002,...

Unlikely allies agree that asbestos cases must be viewed objectively ; Asbestos coalition proposes legislation.
February 11, 2002... WASHINGTON-An unusual coalition hopes the time has arrived to persuade Congress to change the way that claims for asbestos-related illnesses are handled. The group, known as the Asbestos Alliance, consists of expected reform proponents,...

Enron hearings show broad legislative support for plan changes; 401(k) reform targeted.
February 11, 2002... WASHINGTON-Enron Corp.'s bankruptcy and the resulting devastation of the energy giant's 401(k) plan are almost certain to lead to sweeping federal reform legislation. While it is too early to say exactly what the post-Enron reforms will...

Sulzer Medica agrees to pay $1 billion to claimants.(Brief Article)(Statistical Data Included)
February 11, 2002... ZURICH, Switzerland-Swiss medical company Sulzer Medica has reached a $1 billion settlement with thousands of American claimants who say they received defective hip and knee implants from Sulzer Orthopedics Inc., a Sulzer Medica subsidiary in...

Large health insurers entering market with products of their own; Employers' consumer-driven plan choices growing.(Industry Overview)
February 11, 2002... As demand for consumer-driven health plans grows, supply is growing to meet it. In the past few months, some of the largest U.S. health insurers have introduced their own consumer-driven health plans, directly competing with the existing...

Non-U.S. companies facing steep hikes on D&O policies covering U.S. exposures.
February 11, 2002... Non-U.S. companies with exposure to securities claims in the United States are facing large rate increases and tougher terms and conditions for their directors and officers liability insurance as underwriters reassess their risks. Brokers...

For the Record.(various news items)
February 11, 2002... Former Chubb managers join OneBeacon unit A team of former Chubb Specialty Insurance managers is joining Boston-based OneBeacon Insurance Group to start a new directors and officers liability and professional liability underwriting unit....

Editorial: Time to change brokers' handling of premiums.(Brief Article)(Editorial)
February 11, 2002... In today's hardening market, insurance buyers should question whether it still makes sense to pay their premiums to brokers instead of sending them directly to insurers. While the practice originated as a way for insurers to reward their...

California passes comp measure; Bill to increase benefits will raise costs, employers fear.(workers compensation rules change)
February 11, 2002... SACRAMENTO-California employers renewing their policies at midyear could see the first premium hikes stemming from a workers compensation benefits increase approved last week by state legislators. Under A.B. 749, which cleared both chambers...

Errors & omissions.
February 11, 2002... * A story on page T14 of the Benefits Management Take-Out Section in this issue reports that CIGNA HealthCare plans to launch a consumer-driven health care plan. CIGNA unveiled its plan last week, after the section went to press. * Due to...

Airlines plan RRG to cover war risks.(risk retention group to provide insurance)(Brief Article)
February 11, 2002... WASHINGTON-Major U.S. airlines are developing plans for a Vermont-domiciled risk retention group to provide war risk liability coverage, which was drastically cut back by commercial aviation insurers in the wake of the Sept. 11 terrorist...

Late News.(various news items)
February 11, 2002... Two insurers may rescind Enron D&O cover Two Enron Corp. directors and officers liability insurers are asking a bankruptcy judge's permission to notify the company that they may rescind coverage for ``material misrepresentation'' of...

Plans making an investment in quality ; Financial incentives seek to encourage provider adoption of standards.(Industry Overview)
February 11, 2002... Some employers are taking an unusual approach to rising costs- they're agreeing to pay more. In several programs started in recent months, employers and health plans have begun paying doctors and hospitals more money if they meet...

Strategies changing; Employers shifting drug cost burden.
February 11, 2002... As prescription drug costs continue to skyrocket, employers are taking steps to shift more of the costs on to employees and to make their health plan participants more aware of how costly prescription drugs can be. Three-tiered...

Taking cost control to another level; More HMOs offering tiered health plan options.(health maintenance organizations)
February 11, 2002... In response to rising health care costs, a growing number of health maintenance organizations are introducing so-called ``network-within-a-network'' plans that give enrollees financial incentives to use lower-cost hospitals and providers. ...

Bioterror has huge impact on insurance industry ; Symposium on terrorism.(Brief Article)
February 11, 2002... CHICAGO-The handful of anthrax-tainted letters that contaminated a congressional office building, several post offices and two media offices late last year have had a far greater impact on the insurance industry than that small number of...

Regulator, insurer cooperation key to Sept. 11 response: Serio.(New York Insurance Superintendent Gregory V. Serio)(Brief Article)
February 11, 2002... CHICAGO-The worst terrorist attacks in U.S. history spurred unprecedented cooperation between insurance regulators and insurers, while at the same time raising significant issues that are now affecting claims handling and underwriting...

States urged to use hospital bioterror funds wisely.(Brief Article)
February 11, 2002... WASHINGTON-The federal government is sending states $125 million to help hospitals prepare for bioterrorism, though state health departments will have the final say on how most of the money will be used by hospitals. ``I think there is...

Self-insurer not bound by insurer statute: Court.(California appellate court ruling)(Brief Article)
February 11, 2002... SANTA ANA, Calif.-The self-insured University of California is not an insurer, which means it does not have to get a doctor's approval before settling a malpractice claim involving one of its medical facilities, says a state appellate court....

World Updates.(various insurance companies, the latest news)(Brief Article)(Statistical Data Included)
February 11, 2002... Syndicates making cash call on investors Lloyd's of London syndicates are making a $795 million cash call on investors, chiefly to pay losses arising between 1998 and 2001. About half of the total-$395 million-will be used for losses from...

Two directories to be available online.(directories of Prescription Benefit Managers and Case Management Providers)(Brief Article)
February 11, 2002... The directories of Prescription Benefit Managers and Case Management Providers will soon be available online in the directories area of www.businessinsurance.com. The Prescription Benefit Managers directory will be searchable by company...

TPA listing deadline nears.
February 11, 2002... Business Insurance will publish its online Directory of Third Party Administrators on March 4. That week's issue of Business Insurance will include a ranking of the top TPAs and a Spotlight report on Claims Management. The directory, which...

Employer interest in disease management growing; Programs seek to reduce costs associated with chronic medical conditions.
February 11, 2002... Fewer than one in 10 employers currently use disease management programs, but the popularity of disease management is likely to grow significantly as employers look for new ways to hold down rapidly rising health costs. Employers...

New attitudes may affect industry most.(forecast of insurance industry, effects of September 11 attacks)(Brief Article)
February 11, 2002... The Sept. 11, 2001, terrorist attacks hastened the hardening of the insurance market and the resulting reduced capacity, increased prices and tightened coverage terms have become more severe since the Jan. 1, 2002 insurance and reinsurance...

Ruling raises bar on stress claims; Court stresses action.(Brief Article)(Statistical Data Included)
February 11, 2002... LONDON-A recent U.K. Court of Appeal ruling will make it more difficult for employees to bring work-related stress claims. The Feb. 5 ruling stripped two teachers and a factory worker of awards for occupational stress totaling about...

Request to fund benefits in captive may spur other employers to follow; ADM sows seeds of trend.(Archer Daniels Midland Co., U.S. Department of Labor)(Brief Article)
February 11, 2002... WASHINGTON-In a move that could have broad implications for other employers seeking new uses for their captive insurance companies, agribusiness giant Archer Daniels Midland Co. is asking the U.S. Department of Labor for approval to use its...

Legal Briefs: Converted individual policy not subject to ERISA.(includes several articles, Employee Retirement Income Security Act)(Brief Article)
February 11, 2002... An individual insurance policy that was converted from an earlier group policy is not governed by the federal Employee Retirement Income Security Act, according to the 9th U.S. Circuit Court of Appeals in San Francisco. Thus, a policyholder's...

Losses from explosion in Nigeria estimated to total $84 million.(military armory explosion)(Brief Article)
February 11, 2002... LAGOS, Nigeria-The Nigerian Insurers Assn. estimates that recent explosions at a military armory in Lagos would result in insured property losses of ``several billions of naira.'' Prince Omosanya Akinyemi, chairman of the NIA, said that no...

An eye-opening visit to Lloyd's.(history of Lloyd's of London)(Brief Article)
February 11, 2002... ``You've got to make a pilgrimage to Lloyd's at least once if you're going to work in this business,'' said the man seated next to me. I was at one of the many insurance conferences I attend each year as a reporter for Business Insurance....

More policy changes needed to limit terrorism losses: ISO.(Brief Article)
February 11, 2002... Risk managers with commercial property in the 30 jurisdictions using standard fire policies can take comfort from the fact that most direct fire-related losses from terrorism are generally still insured under their basic policies-at least for...

Interest growing in DFA's usefulness; Dynamic financial analysis sheds light on range of what-ifs.
February 18, 2002... Dynamic financial analysis may be among the most useful tools in the risk manager's enterprise risk tool chest. DFA, whose roots are in post-World War II scenario planning developed by the Rand Corp., is a systematic approach to financial...

Industry suing to stop Vermont privacy regulation.(Brief Article)
February 18, 2002... A group of national insurance trade associations has filed suit over Vermont's insurance privacy regulation that took effect this month. The suit, filed in Washington County Superior Court in Montpelier, Vt., seeks to invalidate the rule,...

Insurers subject to money laundering law.(Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001)
February 18, 2002... A new law adopted following the terrorist attacks on the United States last September puts new responsibilities on the insurance industry and other financial service companies in the battle against global money laundering. As part of the...

Industry backs trade promotion authority measure; Legislation seen as key to eliminating barriers overseas.(Brief Article)
February 18, 2002... The terrorist attacks on the United States and the country's subsequent global war on terrorism have not dimmed many insurance companies' interest in overseas business opportunities. With that in mind, many are looking to Congress'...