Business Insurance articles from January 2002

Business Insurance archives from January 2002

Survey details Australians' expectations of a hard market in 2002; Insurance costs to go up Down Under.(Brief Article)
January 7, 2002... SYDNEY, Australia-Sharply higher rates and more-restrictive terms and conditions might prompt more Australian buyers to reconsider their risk financing programs and explore alternatives. That is the conclusion of a recent survey by J.P....

Timeline of events in risk management throughout 2001.
January 7, 2002... JANUARY Property/casualty insurance buyers see signs of market hardening in their renewals. Rates continue to rise during the year, and the hardening increases dramatically after Sept. 11. Lloyd's of London increases its premium...

Groups most open to nontraditional products identified; KPMG, ACLI survey finds that wealthier people tend to spend more new financial services.(KPMG L.L.P. and American Council of Life Insurers conducts, 21st Century Financial Services Consumer survey)(Brief Article)(Polling Data)(Statistical Data Included)
January 7, 2002... Affluent single individuals, both young and old, and empty nesters in their 50s or 60s are the most promising markets for life insurance companies looking to sell nontraditional products, a new study shows. The survey, conducted by KPMG...

Wider risk management urged; U.K.'s new crisis manager advocates meeting increasing uncertainty with a broader outlook.(Brief Article)
January 7, 2002... LONDON-The events of Sept. 11 show that companies and governments must adopt a broader and more-integrated approach to contingency planning and risk management, the U.K. government's top crisis manager says. Mike Grannatt was appointed...

Insurers left behind by modernization; Gramm-Leach-Bliley Act's main beneficiaries have been banks, observers say.(Industry Overview)
January 7, 2002... Enactment of the Gramm-Leach-Bliley Act was supposed to pave the way to true financial modernization by allowing banks, insurance companies and producers, and securities firms to enter each other's businesses. But now, a little more than...

Developments in 2001 relating to employee benefit programs.
January 7, 2002... JANUARY: With a record $10 billion in surplus, David Strauss, head of the Pension Benefit Guaranty Corp., recommends reducing the insurance premiums that the agency charges employers with fully funded pension plans. Final Internal...

Some insurance entities banking on diverse offerings; Agents, insurer groups see advantages in branching out in financial services.(Brief Article)
January 7, 2002... Although the convergence of financial services sectors has not occurred as widely as many had predicted, it is creating opportunities for some in the insurance industry to branch out of their traditional businesses. For example, even prior...

Insurance program covers incentive payout to coach who led team to Orange Bowl; U of Maryland scores a victory, even if team doesn't.(Brief Article)
January 7, 2002... COLLEGE PARK, Md.-Under a unique insurance program, the University of Maryland last year bet $13,000 that its rookie head football coach would lead the team to its first post-season bowl game since 1990. That bet paid out more than $300,000...

Health care access services for expats gain in popularity.(expatriot workers)
January 7, 2002... Keeping overseas workers and business travelers healthy and safe has become a high priority for multinational employers. Demand for services that provide overseas workers with access to health care and security information has risen sharply...

Some state privacy regulations rankle industry; Requirements imposing costly burdens, insurance companies and agents say.(Brief Article)
January 7, 2002... States generally are adopting privacy regulations that insurers and producers can live with, but there have been a couple of notable exceptions, and all eyes will be on California this year. Forty-four states and the District of Columbia...

Cell phone makers, liability insurers battle over coverage for injury claims.(Brief Article)
January 7, 2002... Consumer lawsuits demanding that cellular telephone companies take steps to reduce potential cell phone-related health risks have sparked coverage battles between policyholders and their commercial general liability insurers. Zurich...

Predictions for 2002.(insurance trends)(Brief Article)(Column)
January 7, 2002... IF THE EVENTS OF 2001 have taught the world anything, it's that some things are not predictable. At the start of 2001, no one could have foreseen the unprecedented losses from terrorist attacks on the United States and their widespread...

Sept. 11 attacks show value of planning for crisis.(Cantor Fitzgerald L.P. is used as example)(Brief Article)
January 7, 2002... PALO ALTO, Calif.-Cantor Fitzgerald L.P. lost nearly 700 of its 1,000 U.S. employees in the attack on the World Trade Center, yet the bond trading firm was ready for business just two days later. ``With proper crisis planning, your company...

Chartering bill introduced; Industry divided on federal proposal.(Brief Article)
January 7, 2002... WASHINGTON-The Senate could begin debating the controversial issue of optional federal chartering for insurers and producers later this year. Sen. Charles Schumer, D-N.Y., introduced a federal chartering proposal, the National Insurance...

Charting Change.(Brief Article)
January 7, 2002... 2001 ushered in significant changes for risk managers, employee benefit managers and the insurance industry. Months before the terrorist attacks on Sept. 11 changed many companies' perception of risk and precipitated a drastic hardening of...

Flight attendant sues airline, charging bias in benefit plan.(Martina Alexander, American Airlines Inc.)(Brief Article)
January 7, 2002... LOS ANGELES-American Airlines will fight a lawsuit filed by a flight attendant claiming discrimination because her health plan allegedly covers Viagra for men but not infertility treatment for women. The suit is one of only a few similar...

Study finds reporting of losses to reinsurers is faster than in past; Loss development accelerating: RAA.(Reinsurance Association of America)(Brief Article)
January 7, 2002... A recently released study by the Reinsurance Assn. of America shows a continuing reversal of what had been a persistent trend toward lengthening loss reporting patterns in casualty reinsurance lines. ``Generally, the loss development has...

Losses tallied in Australian fires.(Brief Article)(Statistical Data Included)
January 7, 2002... SYDNEY, Australia-Insurance claims stemming from the bush fires that have been raging around Sydney, Australia, will likely cost $70 million Australian ($35.8 million), according to the Insurance Disaster Response Organization. ``Several...

A few sausages remain unmade.(Congress non-action on legislation at the end of the year)(Brief Article)
January 7, 2002... The year ended with considerable frustration over Congress' failure to act on several important pieces of legislation. One obvious disappointment for the insurance industry was the inability of the House and the Senate to reach agreement on...

For the Record.(industry briefs)(Brief Article)(Statistical Data Included)
January 7, 2002... SINSER execs buy out operations in Bermuda SINSER Insurance Ltd.'s management team has acquired the Bermuda-based company, after Aon Corp. decided not to keep the operations as part of its acquisition of SINSER Holding A.B. Chicago-based...

Coke case expands ability of claimants to sue for fear of injury in Florida.(Linda Hagan, Coca-Cola Bottling Co. law suit)(Brief Article)
January 7, 2002... TALLAHASSEE, Fla.-A Florida Supreme Court decision in a case in which two women claimed they drank from a soft drink bottle they believed contained a used condom broadens a state law under which plaintiffs, in order to collect damages, must...

World Updates.(various news items)(Brief Article)
January 7, 2002... HSE faces suit over rail crash Thames Trains and its insurer are suing the U.K. Health and Safety Executive over the October 1999 Paddington rail crash. The suit says the HSE should not have allowed a complex track layout in the area and...

Employers face problems; 401(k) catch-ups hit state tax snag.(Brief Article)(Statistical Data Included)
January 7, 2002... WASHINGTON-Employers in more than a dozen states-including California-that want to add a ``catch-up'' feature to their 401(k) plans face a complication that could create a significant administrative burden and prove costly for employees. ...

Conflict escalating on WTC coverage.(developer Silverstein Properties Inc. involved in lawsuits with many insurers)(Statistical Data Included)
January 7, 2002... NEW YORK-The high-stakes legal battle over the World Trade Center's property insurance program is intensifying as WTC leaseholder Silverstein Properties Inc. and some of its insurers exchange new lawsuits over whether the twin towers'...

Products & Services.(Brief Article)
January 7, 2002... Tempest Re, HartRe offer workers comp reinsurance STAMFORD, Conn.-ACE Tempest Re USA Inc. and HartRe Co. L.L.C. are joining forces to offer $20 million in reinsurance limits for workers compensation risks. Each reinsurer will provide...

Terrorism exclusions widely approved.(by state insurance regulators)(Brief Article)
January 7, 2002... State insurance regulators in nearly all jurisdictions have either approved exclusions for terrorism in commercial lines policies or are taking steps to allow insurers to exclude such risks. The main focus of regulators in most...

Late News.(Brief Article)(Statistical Data Included)
January 7, 2002... ACE USA to join USAIG pool ACE USA has stopped underwriting corporate aviation risks independently and has joined the U.S. Aircraft Insurance Group aviation insurance pool. Effective Jan. 1, all of ACE USA's corporate aviation, noncritical...

Employers face problems; 401(k) catch-ups hit state tax snag.
January 7, 2002... WASHINGTON-Employers in more than a dozen states-including California-that want to add a ``catch-up'' feature to their 401(k) plans face a complication that could create a significant administrative burden and prove costly for employees. ...

Banks see P/C insurance as incompatible business; Citigroup breaks its own mold.(property/casualty)
January 14, 2002... NEW YORK-Any financial supermarket of the future is unlikely to stock property/casualty underwriting on its shelves. Many observers say Citigroup Inc.'s 1998 acquisition of Travelers Insurance Group was a unique event unlikely to be copied...

Heroes' honors long overdue.(Brief Article)
January 14, 2002... Christian Adams, Lorraine Bay, Todd Beamer, Alan Beaven, Mark Bingham, Deora Bodley. Every day since Sept. 11, the media have covered some story relating to the terrorist acts. Meanwhile, Congress has wrangled over many pieces of...

Aviation, energy among hardest lines in London; Following Sept. 11 terrorist attacks, almost all lines seeing rate increases in market.
January 14, 2002... LONDON-For London in 2002, it's back to the basics of underwriting, brokering and risk management. Reduced capacity and increased rates, retentions and exclusions have replaced holiday festivities in London, resulting in a frenzied,...

Nonadmitted market seeing increase in business.
January 14, 2002... More business and higher prices. That's what has characterized the surplus lines market for the January 2002 renewal season. Policyholders are flocking to surplus lines as admitted insurers have backed away from certain types of property...

Insurers imposing rate hikes in every P/C line.(Property and casualty insurance)
January 14, 2002... The shadow of Sept. 11 stretches ever longer across the property/casualty insurance marketplace, insurers say. Prices for almost all lines of business had been firming for a year or more before the terrorist attacks, and the losses from the...

Brokers pressed to meet coverage needs.
January 14, 2002... As the Jan. 1 renewal period was drawing to a close, brokers had to work overtime to place many of their clients' programs in a difficult market. The post-Sept. 11 hard market has brought not only higher rates and shrinking capacity but an...

Risk managers placing blame on insurers for renewal woes.
January 14, 2002... If they had any choice, risk managers might just say they were mad as hell and weren't going to take it anymore. But in many cases, they are finding they must bite the bullet and pay skyrocketing premiums, or make the hard decision to take...

Reinsurance capacity still available-but at a price; Sept. 11 attacks accelerate rate increases, prompt use of terrorism exclusions.
January 14, 2002... Negotiations for reinsurance programs renewing Jan. 1 were tough and went long, but when all was said and done, most buyers could find the coverage they sought. That coverage, though, came at higher prices and typically with terrorism...

Argentina market uncertain; Economic crisis raises questions for risk managers, insurers.
January 14, 2002... BUENOS AIRES, Argentina-Buffeted by political and economic turmoil, Argentina's commercial property/casualty policyholders and their insurers face many uncertainties. Problems came to a head last month, when Argentina's government imposed...

Deadline nearing for directories.
January 14, 2002... Business Insurance will publish its annual directories of case management services providers and prescription benefit managers on Feb. 11. To be included in the case management services provider directory, your company must directly sell...

Asbestos accord survives challenge.
January 14, 2002... NEW ORLEANS-London underwriters are considering an appeal following a federal judge's refusal to void a longstanding asbestos claims agreement between the insurers and bankrupt engineering firm Babcock & Wilcox Co. In what some describe as...

Comings & Goings.(executive appointments)
January 14, 2002... Patrick J. Grannan has been elected president and chief executive officer of Milliman USA Inc., an international consulting and actuarial firm based in Seattle. Mr. Grannan, who previously served as chief operating officer, succeeds Robert L....

World Updates.(Brief Article)
January 14, 2002... CGNU, Groupama in talks over CGU Courtage U.K. multiline insurer CGNU P.L.C. said last week that it is in talks to sell CGU Courtage, its French property/casualty commercial lines unit, to Paris-based mutual Groupama-GAN S.A. No details...

Editorial: Keep up pressure on chartering.(Senator Charles Schumer introduces legislation that allows optional federal insurer chartering)(Brief Article)
January 14, 2002... We praise Sen. Charles Schumer's decision to introduce legislation that would allow optional federal chartering of insurers. The New York Democrat's bill, which is overdue, will advance the debate over the need of large multistate...

IRS rejects health plans aimed to cut payroll tax.(Brief Article)(Statistical Data Included)
January 14, 2002... WASHINGTON-Employers beware: an aggressively marketed health insurance plan designed to cut employers' payroll taxes doesn't pass muster with the Internal Revenue Service. Under the design, employers would restructure their health plans so...

USI, Ceridian in outsourcing pact.(USI Holdings Corp. alliance with Ceridian)(Brief Article)(Statistical Data Included)
January 14, 2002... SAN FRANCISCO-USI Holdings Corp. and Ceridian Corp. have taken a step toward providing one-stop shopping for middle-market clients. Minneapolis-based Ceridian, which offers payroll and human resources services, has formed an alliance with...

Pool Re facing questions on cover adequacy.(Pool Reinsurance Company Ltd)(Brief Article)(Statistical Data Included)
January 14, 2002... LONDON-Insurers and the U.K. government hope to reach an agreement by March 1 on the extent to which the government will act as a reinsurer of last resort for terrorism risks. The government has already agreed that any solution reached by...

London dismayed by capital flow; Lloyd's taken to task by corporate backer.(Lloyd's of London)(Brief Article)(Statistical Data Included)
January 14, 2002... LONDON-A leading corporate backer of Lloyd's of London has warned the market that it must make big changes in order to remain competitive and ensure its survival. And some other London market executives are expressing concerns that London is...

Pennsylvania focuses on St. Paul's own pessimistic assessment of chance of winning suit; Insurer refusal to settle ruled bad faith.(Brief Article)
January 14, 2002... HARRISBURG, Pa.-An insurer that refuses to settle a suit against its policyholder even though it doesn't believe there is a strong chance of winning the lawsuit can be liable for bad-faith damages, the Pennsylvania Supreme Court has ruled. ...

Editorial: Reforms needed to protect savings.(George W. Bush's call for retirement savings plan reform)(Brief Article)
January 14, 2002... PRESIDENT BUSH IS on target in calling for reforms to protect the retirement savings of 401(k) plan participants. The president has charged an interagency task force with recommending changes to pension law to reduce the likelihood that...

Court battle grows in film financier's coverage dispute with its insurers.(Brief Article)(Statistical Data Included)
January 14, 2002... NEW YORK-The legal war over disastrous insurance-backed film financing deals is flaring on both sides of the Atlantic, as JPMorgan Chase Bank and two insurers exchange new lawsuits over programs covering 12 Paramount Pictures films and as a...

Aviation market hit hard in 2001.(aviation insurers lose $5.8 billion in 2001)(Brief Article)(Statistical Data Included)
January 14, 2002... Aviation insurers face losses of $5.8 billion for 2001, making last year the worst ever for the aviation market, according to aviation analyst Airclaims Ltd. London-based Airclaims' estimate includes hull and liability claims arising from...

Late News.(insurance industry business)(Statistical Data Included)
January 14, 2002... Bush task force to review 401(k) safeguards In the wake of the loss of more than $1 billion by Enron Corp. 401(k) plan participants, the Bush administration will establish a multiagency task force to develop recommendations to prevent...

Directory deadline nears.(Business Insurance)(Brief Article)
January 21, 2002... Business Insurance will publish its online Directory of Risk Management Consultants in February. The Feb. 18 issue of Business Insurance will include a ranking of the top consultants and a Spotlight report on enterprise risk management. ...

California health plans to use premium increases to reward physicians for quality patient care.(Brief Article)
January 21, 2002... WALNUT CREEK, Calif.-A group of California health plans, medical groups and employers announced a statewide healthcare initiative last week that uses money from insurance premium increases to reward physicians for improving the quality of...

CIAB Market Index shows double-digit increases for risks of all sizes; Uncertainty adding impetus to rate hikes.(Council of Insurance Agents & Brokers)(Brief Article)(Statistical Data Included)
January 21, 2002... Continuing market uncertainty following the Sept. 11 terrorist attacks is pushing already-rising commercial insurance rates even higher, according to a new survey by the Council of Insurance Agents & Brokers. The CIAB's Commercial...

IRS rules cayenne a valid medical expense in some circumstances.(Brief Article)
January 21, 2002... WASHINGTON-A spicy tale? A recent Internal Revenue Service information letter says the cost of cayenne pepper recommended by a patient's naturopathic physician to treat Raynaud's disease, a circulatory problem affecting the blood vessels...

Staff relocated after WTC attack; Quick response helps keep insurer running.(Empire Blue Cross & Blue Shield relocates)(Brief Article)
January 21, 2002... NEW YORK-Like other insurers, Empire Blue Cross & Blue Shield had contingency plans. If the insurer's Web site crashed, there was a backup. If phones and computers went down in any one office, calls could be rerouted to others, so that the...

Comings & Goings.(insurance industry executive appointments)(Brief Article)
January 21, 2002... Insurers: David Lawless has been named senior vp and chief administrative officer of Public Service Mutual Insurance Co., a unit of the New York-based Magna Carta Cos. John Hill has been named senior vp of home office operations. ...

Employers' best offense against employee anxieties might be good self-defense.(security services)(Brief Article)
January 21, 2002... Instead of being in their office on the 79th floor of 1 World Trade Center on Sept. 11, directly in the path of the first hijacked airplane, John Vaughan and his 12 employees were either still at home or on their way to work. A changed meeting...

Vaughan starts one-year presidency; New NAIC head seeks more say for regulators.(Therese M. ``Terri'' Vaughan at National Assn. of Insurance Commissioners)(Brief Article)
January 21, 2002... Although uncertainty about coverage for terrorism losses remains a significant concern for the insurance industry, the new president of the National Assn. of Insurance Commissioners also wants the NAIC to remain focused on modernizing state...

Campaign seeks to remove stigma of mental illness.(Mid-America Coalition on Health Care )(Brief Article)
January 21, 2002... KANSAS CITY, Mo.-A Kansas City, Mo.-based employer coalition is embarking on an initiative to remove the stigma from depression so that more employees suffering from the disorder will come forward and seek treatment. But the objective of...

Cape uninsured for payouts; Mining company settling claims over asbestos.(Brief Article)
January 21, 2002... LONDON-Cape P.L.C. will pay L21 million ($30.1 million) to settle claims and limit its liability to thousands of South Africans who claim they contracted asbestos-related diseases from working at or living near a mine operated by the company....

Court sides with retirees; Employer ordered to keep its promise of lifetime benefits.(Brief Article)
January 21, 2002... NEW YORK-In what some attorneys are calling a troubling ruling for employers, a federal appeals court says employers may not reduce promised lifetime retiree benefits if they did not reserve that right when they made the promises. The Dec....

California judge bars attempt to mandate coverage of drug.(Brief Article)
January 21, 2002... SACRAMENTO, Calif.-A California superior court judge last week thwarted a regulator's attempt to force a health insurer to pay for a weight-loss drug that was excluded from its coverage but was deemed medically necessary by an independent...

World Updates.(Brief Article)
January 21, 2002... SCOR to exit program, health lines French reinsurer SCOR S.A. said last week it is withdrawing from program business in the United States, which includes the reinsurance of medical and professional liability risks, as well as exiting health...

New capital, old habits may bring early end to hard market: Panelists; Pricing discipline at risk?(property/casualty industry)(Brief Article)
January 21, 2002... NEW YORK-The property/casualty industry's chances of maintaining pricing discipline and prolonging the hard market may be diminishing, according to industry executives and analysts. That is in spite of looming exposures from terrorism and...

Losses lie ahead for Lloyd's market; Chatset projects multibillion-dollar losses for 1999, 2000, 2001 years.(Brief Article)
January 21, 2002... Lloyd's of London will record three consecutive years of loss for the open underwriting years 1999 to 2001, predicts Lloyd's analyst Chatset Ltd. In its January 2002 review, Chatset said that optimism about a return to profit in the 2001...

Arbitration dealt a blow; EEOC suits not barred: High court.(Equal Employment Opportunity Commission )(Brief Article)
January 21, 2002... WASHINGTON-Employers may find the use of arbitration to settle employment disputes less attractive in the aftermath of a Supreme Court decision holding that an arbitration agreement does not bar the Equal Employment Opportunity Commission...

Employers receive guidance on plan document filing rule.(Brief Article)
January 21, 2002... WASHINGTON-More than four years after Congress got rid of what many employers saw as a time- and money-wasting benefits plan filing requirement, employers have final rules to clarify compliance. Tucked into the Taxpayer Relief Act of 1997...

WTC mortgage lender suing over claim payouts.(World Trade Center's mortgage lender, GMAC Commercial Mortgage Corp., sues)(Brief Article)
January 21, 2002... NEW YORK-A new front is opening in the legal war over the World Trade Center's insurance coverage, as the WTC's mortgage lender, GMAC Commercial Mortgage Corp., sues to protect its interest in payouts under the $3.55 billion property program....

Conning study finds P/C rates not rising quickly enough to offset high losses.(Brief Article)
January 21, 2002... Property/casualty rates may be rising fast, but not fast enough to offset growing deficiencies in industrywide loss reserves, a study by Conning & Co. concludes. Loss experience in most casualty lines has been deteriorating since 1997, and...

Self-funding's star rising; Tightening market piquing interest in ART.(alternative risk transfer)
January 21, 2002... If there is one idea that has crossed the mind of nearly every risk manager in the past few months, it's self-insurance. Already-rising rates that began to soar after the Sept. 11 terrorist attacks have prompted many buyers to consider...

European buyers seeking capacity options.(Brief Article)
January 21, 2002... Facing difficulties in obtaining capacity in the traditional insurance market, some European companies are considering alternative risk transfer options. The French risk management association announced last week that it is moving ahead...

Pretzel exclusions show twisted logic.
January 21, 2002... President Bush was doing well and back at work Monday after fainting briefly in the White House residence while choking down a pretzel a day earlier....In medical terms it is called vasovagal syncope. The body sends a signal to the heart via...

For the Record.(Brief Article)
January 21, 2002... High court to hear ADA punitives case The Supreme Court has agreed to decide whether government entities can be required to pay punitive damages for violations of the Americans with Disabilities Act. Kay Barnes et al. vs. Jeffrey Gorman...

Employers seeing benefits in reform; Employers seeing benefits in reform of Germany's pension system.(Brief Article)
January 21, 2002... BERLIN-German employers and insurers are guardedly welcoming pension reforms that took effect Jan. 1, calling them a step in the right direction but not a complete solution to pension problems. Known as the Riester Reforms-named after...

Late News.(multiple brief articles)(Brief Article)
January 21, 2002... Lloyd's market to consider reforms Lloyd's of London market participants will review radical reforms of Lloyd's operations over the next few months. The Council of Lloyd's last week cleared for consultation the proposed reforms, drawn up...

Insurance entities see advantages in branching out.
January 21, 2002... Although the convergence of financial services sectors has not occurred as widely as many had predicted, it is creating opportunities for some in the insurance industry to branch out of their traditional businesses. For example, even prior...

Book Review: Book on junk science offers risk assessment lessons.(Junk Science Judo)(Brief Article)
January 21, 2002... ``Junk Science Judo'' By Steven J. Milloy Cato Institute, 1000 Massachusetts Ave., Washington, D.C. 20001; 202-842-0200; fax: 202-842-0779; www.cato.org $18.95. A few years ago, Steven J. Milloy and co-author Michael Gough...

Insurers slow to move on convergence; Gramm-Leach-Bliley's main beneficiaries have been banks, observers say.(Brief Article)
January 21, 2002... Enactment of the Gramm-Leach-Bliley Act was supposed to pave the way to true financial modernization by allowing banks, insurance companies and producers, and securities firms to enter each other's businesses. But now, a little more than...

Some state privacy laws rankle industry; Requirements imposing burdens, companies and agents say.(m-Leach-Bliley Financial Services Modernization Act)(Government Activity)(Brief Article)
January 21, 2002... States generally are adopting privacy regulations that insurers and producers can live with, but there have been a couple of notable exceptions, and all eyes will be on California this year. Forty-four states and the District of Columbia...

Consider breadth of interruption cover.(Sept. 11 terrorist attacks highlights need for business interruption coverage)(Brief Article)
January 21, 2002... After the Sept. 11 terrorist attacks, many businesses that were located in and near the World Trade Center have attempted the seemingly impossible task of recovering. For these companies, making use of the protection afforded by business...

Comings & Goings.(executive appointments)(Brief Article)
January 21, 2002... Insurers: David Lawless has been named senior vp and chief administrative officer of Public Service Mutual Insurance Co., a unit of the New York-based Magna Carta Cos. John Hill has been named senior vp of home office operations. ...

Brands used to bargain in EPL suits; Companies may settle to avoid bad publicity.(companies often eager to settle employment practices liability so corporate name/brand won't get bad publicity)
January 28, 2002... Brand protection and employment practices liability have become entwined as plaintiffs attorneys target image-conscious large corporations that are eager to avoid negative publicity. More than in the past-before brand image became a...

Fiduciary liability market constricting.(insurers see market to cover fiduciary responsibility for pension funds)
January 28, 2002... The bear market for securities, which is triggering an increasing number of fiduciary liability suits against employers, is providing a bullish opportunity for insurers. Underwriters assert they must increase premiums and reduce capacity...