Business Insurance articles from February 2009

Business Insurance archives from February 2009

Insurers, reinsurers must stay disciplined.(Opinion)(Financial report)(Brief article)
February 2, 2009... NOW IS A TERRIBLE time for insurance and reinsurance companies to report write-downs on investment portfolios, as Swiss Reinsurance Co. has learned recently. As we report on page 3, Swiss Re posted a net unrealized capital loss of 5.2...

Medical house calls aim to mend high ER costs.(News)
February 2, 2009... Byline: JOANNE WOJCIK EVERETT, Wash.-With emergency room utilization on the rise, some Seattle-area employers have begun offering their employees a lower-cost and more convenient alternative: medical house calls. Microsoft Corp. rolled...

Buffett book reveals the man, less clear on investment secrets; 'The Snowball' delves into life, work of Oracle of Omaha.(News)(Warren Buffett )
February 2, 2009... Byline: KRISTIN GUNDERSON HUNT The life and personality of investor Warren Buffett are portrayed clearly in a more-than-800-page, expansive and thorough biography, "The Snowball: Warren Buffett and the Business of Life.'' Mr. Buffett...

Financial crisis a 'call to action' for buyers.(News)
February 2, 2009... Byline: MARK A. HOFMANN NEW YORK-The 2008 financial crisis should serve as a "call to action'' for risk managers to demonstrate the value of enterprise risk management, the Risk & Insurance Management Society Inc. said in an executive...

Investor fears pressure Swiss Re's stock price; Warren Buffett seen as possible source of additional capital.(News)(Swiss Reinsurance Co.)
February 2, 2009... Byline: JUDY GREENWALD and MICHAEL BRADFORD ZURICH, Switzerland-A major plunge in the price of Swiss Reinsurance Co. stock in January reflects investor fear of additional fourth-quarter write-downs stemming from the reinsurer's investment...

Excess casualty MGA welcomed by buyers; Ironshore, C.V. Starr Bermuda venture adds needed capacity.(News)
February 2, 2009... Byline: SALLY ROBERTS HAMILTON, Bermuda-The joint venture managing general agency that was announced last week by Ironshore Inc. and C.V. Starr & Co. Inc. will be a welcome alternative for buyers in the excess casualty marketplace,...

High court ruling in asbestos case a big win for Wis. policyholders.(News)
February 2, 2009... Byline: SALLY ROBERTS MADISON, Wis.-A Wisconsin Supreme Court ruling that an insurer should pay damages for individual asbestos claimants as separate occurrences and should cover injuries suffered outside of a policy period is a big...

Opportunity, challenges ahead for P/C insurers.(News)(dialogue with Leigh Ann Pusey )(Interview)
February 2, 2009... Leigh Ann Pusey became president and chief executive officer of the Washington-based American Insurance Assn. on Feb. 1. Ms. Pusey, who joined AIA as senior vp-public affairs in 1996, most recently served as the insurer group's chief operating...

Mass. AG takes a bite out of crime spree.(End Page)(Brief article)
February 2, 2009... If it isn't exactly a case of a man biting off more than he could chew, the tale of Brookline, Mass., resident Tod Schaffer comes close to being so. According to the Massachusetts attorney general's office, Mr. Schaffer broke his tooth in...

Separation of church and state...of undress?(End Page)(Brief article)
February 2, 2009... An information technology employee for the Ohio Bureau of Workers' Compensation allegedly spent a majority of his work days viewing Internet pornography sites and conducting church business. According to an investigation report from the...

On the Web.(News)
February 2, 2009... BI Audio InSight podcasts: Buffett, City of Hope, AIA Warren Buffett biographer Alice Schroeder speaks to Business Insurance about the insights she gained into Mr. Buffett's business and investment strategy for insurance while writing...

Gen Re fraud judge lenient with Milton; Four-year sentence may signal short terms for other defendants.(News)
February 2, 2009... Byline: COLLEEN McCARTHY HARTFORD, Conn.-A federal judge's decision to impose a prison term far below federal sentencing guidelines for American International Group Inc.'s former vp of reinsurance Christian M. Milton last week demonstrates...

Bush support for TRIA remains a lasting legacy.(News)
February 2, 2009... Byline: Mark A. Hofmann Presidential legacies are far from fixed in stone decades or even centuries after the incumbent hands over the keys to 1600 Pennsylvania Ave. to his successor and heads home. The reputations of some, like Dwight...

Ruling in drownings case may spark more occurrence disputes: Experts; Illinois high court rules against insurer on cause of deaths.(News)
February 2, 2009... Byline: SALLY ROBERTS SPRINGFIELD, Ill.-The accidental deaths of two boys who fell into an excavation pit that was not properly secured and maintained constitutes two occurrences under the landowner's commercial general liability policy,...

NEAL WOLIN.(News)
February 2, 2009... NEW JOB TITLE: Deputy counsel to President Barack Obama for economic policy and deputy assistant to the president. PREVIOUS POSITION: President and chief operating officer of property/casualty operations for Hartford, Conn.-based Hartford...

WellPoint program targets bipolar disorder.(Briefs)
February 2, 2009... INDIANAPOLIS-Indianapolis-based WellPoint Inc. has expanded its disease management program for members who suffer bipolar disorder. The Bipolar Condition Care Program aims to provide effective treatment and reduce medical costs by offering...

Extension provision unlikely to be in final legislation.(News)
February 2, 2009... Byline: Jerry Geisel WASHINGTON-When final agreement is reached on an economic stimulus package, a provision in the version cleared by the House of Representatives to extend COBRA eligibility for decades, in some cases, is unlikely to be...

Employers may see rush for COBRA cover; Proposed legislation would burden firms that laid off workers.(News)
February 2, 2009... Byline: JERRY GEISEL WASHINGTON-Millions of U.S. residents who have been laid off would be eligible for subsidized COBRA health care coverage under legislation racing through Congress, with employers having little time to comply with the...

States look to dissolve monopolies in workers compensation insurance; Private insurers would be allowed to compete for business.(News)
February 2, 2009... Byline: ROBERTO CENICEROS Debates are under way in Ohio and North Dakota whether to eliminate state-established workers compensation insurance monopolies by allowing private insurers to compete for employers' business. The two states...

401(k) investors need help to choose wisely.(Opinion)(Brief article)
February 2, 2009... WHAT IS HAPPENING to 401(k) plan participants' account balances is not good news. Last week, mutual fund provider and 401(k) plan administrator Fidelity Investments reported that the average account balance in 2008 dropped to $50,200, a...

Truck firms struggle to reverse sharp rise in cargo thefts; Insurers working with others to manage risks associated with thefts.(News)
February 2, 2009... Byline: ZACK PHILLIPS Truck cargo thefts, which cost the U.S. shipping industry tens of billions of dollars a year, have increased significantly in the past year, risk managers and insurers say. Shippers, trucking companies, insurers...

European storm losses could exceed $1 billion; Klaus destruction the worst since a trio of 1999 winter storms.(News)
February 2, 2009... Byline: SARAH VEYSEY Insured losses from winter storm Klaus, which ripped through parts of France and Spain late last month, could be in the billions of dollars, according to preliminary estimates. The strong extratropical cyclone came...

Court says cheer at your own risk.(End Page)(Brief article)
February 2, 2009... Cheerleading may seem to be a safe recreational activity, but in Wisconsin it's a contact sport-like hockey or football-that can cause serious injuries. The Wisconsin Supreme Court reached this conclusion in reviewing a 2006 lawsuit by a...

IN BRIEF: Obama signs Fair Pay Act.
February 2, 2009... President Obama last week signed the Lilly Ledbetter Fair Pay Act of 2009, which eases time limits on wage discrimination claims. The Ledbetter Act provides that every paycheck resulting from an earlier discriminatory pay decision constitutes a...

Insurance industry helps build City of Hope.(News)(dialogue with Jerry Sullivan )(Interview)
February 2, 2009... Jerry Sullivan is chairman of Gerald J. Sullivan & Associates, the lead company of the Los Angeles-based Sullivan Group of insurance-related companies that specialize in a variety of coverages, particularly surplus lines. For decades, he has...

Riff puts pop stars at odds with pioneer.(End Page)(Manu Dibango)(Brief article)
February 9, 2009... A French court is to decide later this month whether to allow Cameroonian singer and saxophone player Manu Dibango to be "Startin' Something.'' Mr. Dibango sued pop singers Michael Jackson and Rihanna in a Paris court, claiming they stole...

Employers offering ID theft protection as voluntary benefit; Legal service plans also becoming more common choices.(Benefits Management)(Survey)
February 9, 2009... Byline: KAREN PALLARITO Reacting to national crime statistics and marketplace demand, many group life insurers and legal service plans are offering identity theft protection as a voluntary employee benefit, experts say. ID theft...

BRITTON GLISSON; Up Close: Comings & Goings.(News)(Brief article)
February 9, 2009... NEW JOB TITLE: Chief administrative officer with Richmond, Va.-based specialty insurer Markel Corp. PREVIOUS POSITION: President and chief operating officer of Markel Insurance Co. VITAL STATISTICS: I was a CPA before coming to Markel...

Buffett cancels biographer's dinner Q&A.(End Page)(dialogue with Warren Buffett and Alice Schroeder)(Interview)(Brief article)
February 9, 2009... Guess who's not coming to dinner? Warren Buffett and Alice Schroeder, author of the Buffett biography "The Snowball: Warren Buffett and the Business of Life,'' is who. For years, Ms. Schroeder has hosted a dinner at Berkshire Hathaway...

Employers eyeing voluntary benefits in tough economy; Cut Deeper.(Benefits Management)
February 9, 2009... Byline: LOUISE ESOLA While laying off workers and freezing salaries is a common way that businesses facing a tough economy are trying to control costs, they also are critically evaluating the voluntary benefits they offer, experts say. ...

Market Moves: Citadel acquires runoff from Arthur J. Gallagher.(Briefs)(Citadel Risk Management Inc. acquired with Arthur J. Gallagher and Co.)(Allied World Assurance Co. Holdings Ltd. opens 2 California offices )(American Pinnacle Partners Inc. acquired with Commodore Insurance Services Inc. )
February 9, 2009... STAMFORD, Conn.-Citadel Risk Management Inc. said it has acquired substantially all of the reinsurance runoff processes from Itasca, Ill.-based broker Arthur J. Gallagher & Co. Citadel, an active and runoff insurance and reinsurance...

Moves to cut systemic risk may have wide reach; Effect on insurance regulation will depend on structure of efforts to tighten financial system.(News)
February 9, 2009... Byline: MARK A. HOFMANN WASHINGTON-Growing debate about how to regulate systemic risk in the financial system is certain to affect the insurance industry as well, observers say. The implications could be positive or negative, depending...

Buffett bolsters Swiss Re capital; Speculation grows about outright takeover.(News)
February 9, 2009... Byline: JUDY GREENWALD and MICHAEL BRADFORD ZURICH, Switzerland-Warren Buffett's planned capital infusion into Swiss Reinsurance Co. may ultimately lead to a full takeover of the European reinsurance giant by Mr. Buffett's Berkshire...

'Midas well go to jail,' says anti-fraud group.(End Page)(Brief article)
February 9, 2009... "Knuckleheaded swindlers'' are the latest inductees to the Insurance Fraud Hall of Shame, the Washington-based Coalition Against Insurance Fraud says. Among those the coalition says it "dishonored'' in 2008 was Houston physician Ira Klein,...

'Terminator Salvation' tirade sparked filming disruption worries.(End Page)(Brief article)
February 9, 2009... In the upcoming movie "Terminator Salvation,'' actor Christian Bale is trying to save the world, but it appears producer Warner Bros. at one point was concerned about saving the film itself. Reports of Mr. Bale's blowup at Photography...

High court expands bias protection for employees; Civil Rights Act protects witnesses in workplace probes.(News)
February 9, 2009... Byline: JUDY GREENWALD WASHINGTON-A U.S. Supreme Court ruling that says civil rights law also protects employees who merely cooperate with an internal investigation of race or gender discrimination could increase litigation against...

Workers comp success depends on quality analysis.(Opinion)
February 9, 2009... Byline: Rebecca A. Shafer Your workers compensation program requires a thorough and systematic assessment to avoid trying to implement solutions that are as misguided as the old joke of looking for a nickel where you didn't drop it, says...

Former RenaissanceRe chief Stanard fined $100K over Inter-Ocean deal.(News)(Brief article)
February 9, 2009... Byline: JUDY GREENWALD NEW YORK-A judge has imposed a $100,000 civil fine on former RenaissanceRe Holdings Ltd. Chairman and Chief Executive Officer James N. Stanard for his role in orchestrating a two-part sham reinsurance deal with...

Child health care law adds to employer costs; More enrollees, increased expenses expected.(News)
February 9, 2009... Byline: JERRY GEISEL WASHINGTON-Millions of additional children in lower-income families will be eligible for health insurance coverage under legislation signed last week by President Obama. But the new law will add new administrative...

Frequency, number of securities class action suits rises sharply; 2008 saw highest number of suits filed in five years: Study.(News)
February 9, 2009... Byline: JEFF CASALE WESTON, Fla.-If investors, insurers and banks were capable of predicting events like the Bernard Madoff scandal, toxic assets and a crumbling economy, they wouldn't need directors and officers coverage. But because...

Book on D&O, E&O insightful, humorous.(Commentary)
February 9, 2009... Byline: Regis Coccia Anyone who has spent time in or knows people working in the commercial insurance industry is aware that the industry employs many talented and interesting souls. Chronicling their achievements and adventures would...

Peanut firm's GL insurer seeks coverage ruling; Far-reaching recall may test programs of many companies.(News)(Peanut Corporation of America)(Hartford Casualty Insurance Co.)
February 9, 2009... Byline: MEG FLETCHER and JEFF CASALE LYNCHBURG, Va.-The insurer for the Georgia peanut processing plant at the heart of a nationwide salmonella outbreak has filed suit to limit its coverage for liability claims arising from the incident....

N.Y. transparency rule a start, not endgame.(Viewpoint essay)(Brief article)
February 9, 2009... We are encouraged but also somewhat disappointed by proposals from the New York Insurance Department that, if implemented, would require brokers in the state to disclose all compensation they receive for placing coverage with insurers. On...

In Brief: Daschle won't seek HHS secretary role.(Briefs)(Ironshore Inc. has got the A- rating from A.M. Best Co. Inc.)(American International Group Inc's bailout study by Government Accountability Office)(Delphi Corp. is seeking permission to terminate health and life insurance coverage for retirees)
February 9, 2009... Former Senate Majority Leader Thomas A. Daschle has withdrawn his name for consideration as secretary of Health and Human Services. Mr. Daschle's withdrawal followed criticism for his failure to pay more than $100,000 in taxes. He apologized...

Getting employees fit to work essential.(News)(return-to-work efforts )
February 9, 2009... Byline: Roberto Ceniceros Return-to-work efforts are vital even when layoffs mean employers don't have jobs for workers compensation claimants to return to, several observers said. Failure to help comp claimants get healthy enough to...

Willis moves to coordinate cover placements; Placement strategy gives global support to local brokers.(News)(Willis Group Holdings Ltd.)
February 9, 2009... Byline: SALLY ROBERTS LONDON-Following the lead of its two main rivals, Willis Group Holdings Ltd. last week said it launched a global insurance placement strategy in an effort to bring clients more value from the insurance markets. ...

Swiss exchange examines possible rules violation.(News)(Swiss Reinsurance Co.)(Brief article)
February 9, 2009... Byline: Michael Bradford ZURICH, Switzerland-SIX Swiss Exchange Ltd., a Zurich-based securities exchange, is investigating a possible violation of its rules by Swiss Reinsurance Co. The stock market said in a statement that the...

Communication is key when it comes to benefit plans; Employers working harder to inform workers about choices.(Benefits Management)
February 9, 2009... Byline: LOUISE KERTESZ More employers are communicating employer-paid and voluntary benefits as part of a total rewards package that meets a range of employee needs, consultants say. Employers taking the total benefits approach are...

On the Web.(News)
February 9, 2009... BI photo gallery Audio slide show features City of Hope Business Insurance features an audio slide show that demonstrates how the National Insurance Industry Council is helping the City of Hope raise funds to fight cancer. Go to...

N.Y. plans to mandate broker pay disclosure.(News)
February 9, 2009... Byline: SALLY ROBERTS NEW YORK-Regulations proposed by the New York Insurance Department that would require insurance agents and brokers to disclose to clients all compensation drew mixed reactions from the industry last week. New York...

General plan gets cautiously optimistic reaction; details of the transaction awaited.(News)(impact of Berkshire Hathaway Inc. investment on Swiss Reinsurance Co.)
February 9, 2009... Byline: Judy Greenwald and Michael Bradford ZURICH, Switzerland-Market observers generally are cautiously optimistic about Swiss Reinsurance Co.'s prospects after Warren Buffett's decision to make a major investment in the reinsurer. ...

Woman's struggle with ID theft aided by plan.(Benefits Management)(KPMG L.L.P new identity theft protection plan to benefit women)
February 9, 2009... Byline: Karen Pallarito Vicki Long's struggle to clear her blemished credit record began shortly after a box of checks went missing from her mailbox in September 2004. Later that year, the bank informed her that someone was using the...

Comp concerns rise with unemployment rates.(News)
February 9, 2009... Byline: ROBERTO CENICEROS Job reports released last week underscore a growing challenge risk managers face: managing workers compensation losses in the midst of layoffs that can exacerbate claim frequency and severity. Employees off...

325 attend Florida conference; 2010 heads to Naples.(News)(Brief article)
February 9, 2009... The American Bankers Assn. Insurance Risk Management Conference was held Jan. 25-28 at the Hyatt Regency Bonaventure in Weston, Fla. Approximately 325 attended the conference, including bank risk managers, brokers and insurers. Sessions...

Insurance bill smartly sets debate framework.(Opinion)(Brief article)
February 16, 2009... WE DON'T YET KNOW the details of the insurance regulatory reform bill that Reps. Melissa Bean, D-Ill., and Ed Royce, R-Calif., plan to introduce, but we nonetheless welcome the fact that they're going to drop it in the hopper sooner rather than...

Speed of COBRA plan a model not to follow.(Opinion)(Consolidated Omnibus Budget Reconciliation Act of 1985)(Brief article)
February 16, 2009... WE HAVE MIXED FEELINGS about COBRA provisions that are part of the huge economic stimulus bill that was expected to receive final approval by Congress last week. On the positive side, Congress provided quick and appropriate help to...

Industry associations applaud surplus lines bill.(News)
February 16, 2009... Byline: Mark A. Hofmann WASHINGTON-Two lawmakers say they will reintroduce legislation soon to streamline regulation of surplus lines insurers. The Nonadmitted and Reinsurance Reform Act won House approval twice before but never...

Wells Fargo completes addition of ABD, turns to Wachovia; Brokerage reworks structure, exec teams in integration effort.(News)(ABD Insurance & Financial Services Inc.)(Wells Fargo Insurance Services Inc.)(Wachovia Insurance Services Inc.)
February 16, 2009... Byline: SALLY ROBERTS CHICAGO-After taking more than 15 months to integrate Redwood City, Calif.-based ABD Insurance & Financial Services Inc., Wells Fargo Insurance Services Inc. now is facing the task of integrating much larger Wachovia...

Obama's changed, but is it enough?(End Page)(Barack Obama)(Brief article)
February 16, 2009... Was Shepard Fairey's abstract rendering of Barack Obama fair use of a photographer's work or merely a purloined pic? The Los Angeles visual artist, known for his cultural iconography, is suing the New York-based Associated Press to maintain...

On the Web.(News)
February 16, 2009... BI AUDIO Expanded Greg Case Q&A in online podcast Greg Case, president and chief executive officer of Chicago-based Aon Corp., received St. John's University's Insurance Leader of the Year award in January. An expanded version of his...

Lawmakers ready regulatory changes; Bill would create national guaranty fund.(News)(National Insurance Consumer Protection and Regulatory Modernization Act )
February 16, 2009... Byline: MARK A. HOFMANN WASHINGTON-Supporters of an optional federal charter for insurers are praising the latest proposal for a system of federal regulation, but detractors are saying the "optional'' has been removed. Reps. Melissa...

Few cover losses from dropped endorsements.(News)
February 16, 2009... Byline: ROBERTO CENICEROS Few corporations insure against the risk that sports stars and entertainers endorsing their brands could misbehave and disgrace an advertising campaign built around the celebrity's image. The coverage is...

Fla. officials worried about cat fund; State's hurricane fund faces possible shortfall of $18B, governor says.(News)(Florida Hurricane Catastrophe Fund )
February 16, 2009... Byline: COLLEEN McCARTHY TALLAHASSEE, Fla.-Florida officials lobbied at the state and federal levels last week to shore up the Florida Hurricane Catastrophe Fund amid concerns about its ability to pay claims should there be a severe...

President should light the smoke-free path.(Commentary)(Viewpoint essay)
February 16, 2009... Byline: Joanne Wojcik It's hard for me to admit, but I'm prejudiced against a certain class of people: Smokers. If I am seated beside one on an airplane, I will ask to change seats to get away from their smell. When I'm stopped at...

Insurance plays starring role in management of stunt risks; Movie producers negotiate over scenes to lower cover costs.(Spotlight: Specialty Risks)
February 16, 2009... Byline: LOUISE ESOLA When it comes to insuring Hollywood's action-packed films, the bigger the boom, the higher the jump, the braver the stunt, the more expensive and detailed the insurance policy. "Insurers are all over films when...

Citi banks on pawned image for funds.(End Page)(cases of Citigroup Inc. with All Citi Pawn Inc. )(Brief article)
February 16, 2009... Citigroup Inc. ought to know something about being in hock. After all, the New York-based financial services giant has accepted billions from the federal government's Troubled Asset Relief Program to help stay afloat. So maybe it should...

Losing Altitude; Coverage rates for corporate aircraft continue to fall, but some see a firmer market ahead despite recession.(Spotlight: Specialty Risks)
February 16, 2009... Byline: ZACK PHILLIPS Corporate jets, which have been a hot issue for financially ailing companies, have one advantage when it comes to costs: insurance rates that are the lowest in decades. However, some observers say recession in the...

Cash-in-transit market holds steady But underwriters are preparing for change in unstable economic times.(Spotlight: Specialty Risks)
February 16, 2009... Byline: JEFF CASALE The cash-in-transit market has experienced less volatility than other lines of insurance, experts say, but underwriters are bracing for that to change given worldwide economic instability. A niche market also known...

CEO makes Aon's case.(News)(dialogue with Greg Case )(Interview)
February 16, 2009... After nearly four years as president and chief executive officer of Chicago-based Aon Corp., Greg Case last month was honored by St. John's University as Insurance Leader of the Year. The award recognized his leadership in streamlining Aon's...

XL reports huge loss, but outlook brightens; Analysts say insurer getting back on track after trying period.(News)(XL Capital Ltd.)(Financial report)
February 16, 2009... Byline: JUDY GREENWALD HAMILTON, Bermuda-XL Capital Ltd. reported big losses for 2008's fourth quarter and the full year, but analysts say its property/casualty operations remain strong, and they point to signs that XL may have put its...

P&I clubs cite claims, losses for hiking rates.(News)
February 16, 2009... Byline: ZACK PHILLIPS Protection and indemnity club renewals are dragging out slightly longer than usual this year as clubs ask ship owners for sizable rate increases to combat investment losses and high claims in recent years. A half...

Rating agencies downgrade CNA, Hartford after '08 losses; insurers' outlooks revised.(News)(CNA Financial Corp.)(Hartford Financial Services Group Inc.)(Financial report)
February 16, 2009... Byline: JUDY GREENWALD Rating agencies have voiced concerns over the financial outlook for CNA Financial Corp. and Hartford Financial Services Group, after both companies reported losses for 2008. But despite downgrades and revised...

In Brief: U.K. agency to investigate AIG Financial Products.(Briefs)
February 16, 2009... The U.K.'s Serious Fraud Office said it has launched a preliminary inquiry into the operations of AIG Financial Products Corp., a subsidiary of American International Group Inc., to determine whether there has been criminal conduct. The SFO...

Mom finds multiple uses for comp cash.(End Page)(Brief article)
February 16, 2009... People do some strange things with workers comp pay, but using the funds to have eight children through in vitro fertilization to add to an existing brood of six is probably one of the more unusual cases. But that's what one mental hospital...

SCOTT BEEBER.(News)
February 16, 2009... NEW JOB TITLE: Managing director for business development with San Rafael, Calif.-based Craford Benefit Consultants. PREVIOUS POSITION: San Francisco-based senior consultant of client development with Watson Wyatt Worldwide Inc. GOALS...

Museums cut corners on coverage to reduce costs in difficult times.(Spotlight: Specialty Risks)
February 16, 2009... Byline: MEG FLETCHER Taking a cue from their environment, many museum risk managers are responding creatively to the challenges they face at a time of global economic turmoil. Many museums are asking for larger deductibles as well as...

XL posts $1.42B loss for 4th quarter.(News)(XL Capital Ltd. financial news)(Financial report)(Brief article)
February 16, 2009... Byline: Judy Greenwald HAMILTON, Bermuda-For 2008's fourth quarter, XL Capital Ltd. reported a $1.42 billion loss compared with a $1.21 billion loss in the prior-year period. The company said the 2008 quarterly loss was driven in part...

Chubb revises EPL endorsements.(Products & Services)(Torus Insurance Holdings Ltd.)
February 16, 2009... WARREN, N.J.-Chubb Corp. has given policyholders more time to notify the insurer about workplace discrimination charges with an endorsement to its employment practices liability coverage. Chubb said its early claim incentive endorsement now...

Ohio drops lead paint cleanup lawsuit; New attorney general ends effort to compel paint makers to pay.(News)
February 16, 2009... Byline: MARK A. HOFMANN COLUMBUS, Ohio-Business groups are praising Ohio's decision to drop a suit that it brought against lead paint manufacturers in an effort to force them to pay for the abatement of lead paint statewide. Attorney...

Frequently asked COBRA questions answered.(News)(Consolidated Omnibus Budget Reconciliation Act of 1985)
February 16, 2009... Byline: Jerry Geisel COBRA provisions in the massive economic stimulus bill are by far the biggest expansion in the 23-year history of the COBRA health care law. While the enactment of COBRA in 1986 caught many employers by surprise, most...

Employers prepare for surge in COBRA enrollees.(News)
February 16, 2009... Byline: JERRY GEISEL WASHINGTON-Employers will have to scramble to comply with federal legislation providing a federal subsidy of COBRA health insurance premiums to laid-off employees. Employees who were laid off from Sept. 1, 2008,...

Swiss Re replaces CEO after loss, capital boost; New chief Lippe seen aiding return to business basics.(News)
February 16, 2009... Byline: MICHAEL BRADFORD ZURICH, Switzerland-As the new chief executive officer of Swiss Reinsurance Co. takes over, his key challenge will be steering the reinsurer closer to its traditional business model while maintaining its image as...

Continental plane crash adds pressure to rates; Aviation market started firming last year: Brokers.(News)
February 23, 2009... Byline: ZACK PHILLIPS The crash of a regional turboprop near Buffalo, N.Y., could accelerate an already firming aviation insurance market, brokers and other experts say. Continental Connection Flight 3407 crashed Feb. 12 in suburban...

Financial institution rates jump in Europe; Current split in D&O pricing seen moving to general price hikes.(Spotlight: Directors and Officers Risks)
February 23, 2009... Byline: STUART COLLINS European buyers of directors and officers insurance have faced more insurer scrutiny during their latest renewals, with rates, terms and conditions that are largely unchanged. However, rising costs for insurers...