Business Insurance articles from January 2005

Business Insurance archives from January 2005

Nations grieve after deadly wave; Tsunami deaths exceed 100,000, but few claims are expected.(News)
January 3, 2005... Byline: MICHAEL BRADFORD A deadly tsunami late last month claimed more than 100,000 lives in several Asian and African countries and left a swath of destruction estimated in the billions of dollars, much of it uninsured. The economic...

Newsmakers command year's headlines.(Spotlight: Year in Review - Risk Management)
January 3, 2005... From his State of the Union address to the farthest stretches of the campaign trail, President George W. Bush made his commitment to tort reform quite clear. That was particularly true in regard to medical malpractice liability reform,...

Spitzer probe dominates list of year's developments.(Spotlight: Year in Review - Risk Management)
January 3, 2005... Byline: DAVE LENCKUS Many news stories other than the contingency commission scandal grabbed the attention of risk managers in 2004, but they all rank behind the investigation and charges leveled by the New York attorney general. ...

1. Contingent commissions investigated.(Spotlight: Year in Review - Risk Management)
January 3, 2005... Byline: Douglas McLeod New York Attorney General Eliot Spitzer's inquiry into broker compensation was no secret for much of last year, but the impact of his charges against Marsh & McLennan Cos. Inc. stunned the risk management and...

3. WTC litigation continues.(Spotlight: Year in Review - Risk Management)(World Trade Center)
January 3, 2005... Byline: Douglas McLeod After three years of largely fruitless struggle against most of the World Trade Center's property insurers, WTC leaseholder Larry Silverstein finally won one last month. A federal jury hearing the second phase of...

Unusual hurricane season drives record tornado activity.(News)(Brief Article)
January 3, 2005... Byline: MARK A. HOFMANN NORMAN, Okla.-The United States endured a record number of tornadoes in 2004, according to the federal government. In fact, last year's total of 1,717 twisters was almost 300 storms above the previous record of...

2. Florida takes a beating.(Spotlight: Year in Review - Risk Management)
January 3, 2005... Byline: Michael Bradford Florida property owners, normally used to the threat of hurricanes, were left battle-weary after four major storms slammed into the state during the 2004 hurricane season. Hurricanes Charley, Frances, Ivan and...

Future could look dim without TRIA.(Commentary)(Terrorism Risk Insurance Act)(Excerpt)
January 3, 2005... Byline: Mark A. Hofmann Excerpt from "Zips: An Economic History of the United States, 2001-2010,'' Hofmann and Hofmann, eds.; Washington, 2019... As the 109th Congress convened in early 2005, risk managers, commercial real estate...

4. Market softening seen.(Spotlight: Year in Review - Risk Management)
January 3, 2005... Byline: Judy Greenwald The property/casualty market may have peaked early in 2004, but pricing overall remained disciplined throughout the year even as rates softened. The downward trend in pricing is apparent in the data. A panel of...

5. TRIA extension effort fails.(Spotlight: Year in Review - Risk Management)(Terrorism Risk Insurance Act)
January 3, 2005... Byline: Mark A. Hofmann The year ended as it began, with uncertainty over the future of the Terrorism Risk Insurance Act, which is slated to expire on Dec. 31, 2005. That continuing uncertainty did not reflect a lack of trying by the...

Timeline of notable developments in risk management during 2004.(Spotlight: Year in Review - Risk Management)(Calendar)
January 3, 2005... JANUARY * The Alliance of American Insurers and the National Assn. of Independent Insurers complete their merger, forming the Property Casualty Insurers Assn. of America. NAII President Jack Ramirez is named president of the group. *...

Tort reform proponents foresee action in 2005; Bush expected to push for civil justice reform legislation.(News)(George W. Bush)
January 3, 2005... Byline: MARK A. HOFMANN WASHINGTON-Tort reform advocates say President Bush's recent call to Congress to put civil justice reform high on its legislative agenda may have given them the boost they need to turn long-stalled proposed...

2005 will be tougher for P/C insurers to weather; Strong results of last year hard to sustain, Best predicts.(News)(property/casualty insurers)
January 3, 2005... Byline: JUDY GREENWALD U.S. property/casualty insurers reported strong financial results in the first nine months of 2004, but more challenging times lie ahead, according to a report by A.M. Best Co. Lingering issues that could hit...

Resolutions for risk managers.(Commentary)
January 3, 2005... Byline: Paul Winston The new year offers a chance to start over. Out with the old and in with the new. For some people, this means little more than purchasing a new calendar, while for others, Jan. 1 signifies an opportunity for them to...

Two PEOs must pay state fund in California comp fraud case.(News)(professional employer organizations)(Ideal Payroll Plus Ltd. and Ideal Management L.P. cases)
January 3, 2005... Byline: ROBERTO CENICEROS SAN BERNARDINO, Calif.-Two California professional employer organizations must pay $14.6 million to the State Compensation Insurance Fund for allegedly perpetuating a scheme to illegally reduce their workers...

What may be in store during 2005.(Opinions)(Pension Benefit Guaranty Corporation )
January 3, 2005... The end of the year is an opportune time to look ahead as well as back, and Business Insurance is continuing its tradition of predicting what we think will be "in'' and "out'' in risk management and employee benefits in 2005. Our record in...

Punitive interest payment to spur change; Latex allergy case may push U.K. employers to seek early settlements.(International)(United Kingdom, National Health Services)(Swansea National Health Service Hospital Trust and Alison Dugmore cases)
January 3, 2005... Byline: CAROLYN ALDRED SWANSEA, Wales-A significant punitive interest settlement negotiated earlier this month will likely encourage U.K. employers to seek earlier settlements for personal injury claims, some legal experts say. ...

Casino can compel female worker to wear makeup.(News)(Court of Appeals for the 9th Circuit's regulation for casino workers )
January 3, 2005... Byline: JUDY GREENWALD SAN FRANCISCO-A casino cannot be sued for sex discrimination for firing a female bartender over her refusal to wear makeup, says the 9th U.S. Circuit Court of Appeals. In its 2-1 ruling, a 9th Circuit panel in...

Region lacks warning system.(News)(tsunami)
January 3, 2005... Byline: Michael Bradford The death toll from the tsunami that devastated parts of Asia last week could have been lower had a tidal warning system been in place, but cost considerations and the rarity of tsunamis in the Indian Ocean meant...

Benefit planning's value rising: Study; Workers wary of cost shifting.(News)(MetLife Inc. survey)
January 3, 2005... Byline: RUPAL PAREKH As workers are increasingly expected to assume more of the cost of their health benefits, employers are being pressured to enhance benefits education efforts and be more flexible about plan offerings, according to a...

World Updates; U.K. pension deficits see little change: Study.(International)(Robin Ellison appointed as chairman of National Association of Pension Funds)(Reale Mutua Group acquires AEGON Seguros Generales)(Zurich Financial Services Group sells its securities to Sri Brothers Co. Ltd. and Pailuck Co. Ltd.)
January 3, 2005... The overall funding deficit of the pension plans of the United Kingdom's largest 100 public companies is almost unchanged compared with a year ago, according to a study by Watson Wyatt Worldwide. The research found that the aggregate deficit of...

Actuary regulation needs revamp; Self-regulation of U.K. actuaries 'weak, ambiguous, too limited': Report.(International)(United Kingdom)
January 3, 2005... Byline: SARAH VEYSEY LONDON-A government-backed report criticizing actuaries in the United Kingdom has proposed changing the current system of self-regulation. The Morris Review of the Actuarial Profession interim report was published...

Settlement won't end industry probe: Spitzer.(News)(Eliot L. Spitzer's investigations against insurancee industry)
January 3, 2005... Byline: DOUGLAS McLEOD NEW YORK-New York Attorney General Eliot Spitzer will pursue new cases in his insurance industry investigation in early 2005 but is also hoping to report "positive news'' about a "resolution'' of issues raised so far...

United pilots' pension plan lands on PBGC.(News)(Pension Benefit Guaranty Corp.)
January 3, 2005... Byline: MATT SCROGGINS WASHINGTON-The Pension Benefit Guaranty Corp. will take over and terminate one of United Airlines' massively underfunded pension plans, saddling the federal agency with a roughly $1.4 billion loss, one of the biggest...

Foreign drugs pose health risks, HHS report says.(News)(Health and Human Services)
January 3, 2005... Byline: RUPAL PAREKH WASHINGTON-A long-awaited federal report has reignited the debate on prescription drug reimportation, contending that drugs from abroad now pose significant health risks, while a safer U.S. government-regulated...

Late News; Serio to step down as N.Y. top regulator.(New York Insurance Superintendent Gregory V. Serio )
January 3, 2005... New York Insurance Superintendent Gregory V. Serio will step down next month and is expected to be replaced by state Assemblyman Howard D. Mills III, R-97th Assembly District. Mr. Mills' nomination, announced last week by Gov. George E. Pataki,...

Top risk management stories in 2004.(Spotlight: Year in Review - Risk Management)
January 3, 2005... 1. Contingent commission scandal erupts 2. Back-to-back hurricanes rake Florida 3. Court rules in World Trade Center coverage controversy 4. Property/casualty market continues to soften 5. Congress fails to extend TRIA law ...

Hull rates drifting upward as market seeks profitability.(Spotlight: Property/Casualty Market Report)
January 10, 2005... Byline: PETA MILLER Marine insurance buyers saw little change in hull and cargo rates at Jan. 1 renewals as underwriters strived to increase the profitability of their business. And buyers are insuring vessels for higher values as they...

Airlines had safest year for passenger travel in 60 years: Airclaims.(International)
January 10, 2005... Byline: PETA MILLER Airlines enjoyed the safest year for passenger travel in almost 60 years in 2004 and incurred the lowest total hull and liability insured losses since 1990, a report states. But airlines should not expect insurance...

Containing health costs top priority: Benefit managers.(News)
January 10, 2005... Byline: RUPAL PAREKH In 2005, benefits managers' top priorities will revolve around containing the rising cost of employee health care, although the attraction and retention of talented employees will also be a leading concern, according...

Appellate court upholds denial of Chubb shareholders' class action.(News)
January 10, 2005... Byline: DAVE LENCKUS PHILADELPHIA-A group of Chubb Corp. shareholders cannot pursue securities fraud class action claims against the insurer because of faulty pleadings they continuously filed in the action, a federal appeals court has...

IRS gives employers more time to comply with rollover rules.(News)(Internal Revenue Service )
January 10, 2005... Byline: JERRY GEISEL WASHINGTON-Final Internal Revenue Service rules will give employers more time to comply with a soon-to-go-into-effect federal law that requires employers to transfer terminating employees' small pension distributions...

Liability coverage rates turn downward.(Spotlight: Property/Casualty Market Report)
January 10, 2005... Byline: MICHAEL BRADFORD It's beginning to look more like the old days for general liability insurance buyers. As rates have flattened over the past year, the marketplace has begun to more closely resemble its pre-Sept. 11, 2001 state,...

Between the Lines; Price hike clips gender mender.(News)(VGZ)
January 10, 2005... Byline: Compiled by Joanne Wojcik The doctor who is credited with transforming the town of Trinidad, Colo., into the "sex-change capital of the world'' has been forced to take down his shingle because he has not been able to find...

Rate cuts slow but continue for property risks.(Spotlight: Property/Casualty Market Report)
January 10, 2005... Byline: MARK A. HOFMANN It's still a buyer's market for attractive property risks. Rates are continuing to drop, although perhaps not as sharply as they did during the 2003 year-end renewal season, say insurers and brokers. And the...

Specter pushes asbestos reform legislation; Tort reform proponents say action won't compromise broader measures.(News)(Arlen Specter)
January 10, 2005... Byline: MARK A. HOFMANN WASHINGTON-Tort reform advocates don't believe that a key senator's decision to push ahead with controversial asbestos reform legislation early in the new session will have a negative impact on a broader class...

Insurance industry contributes millions to tsunami relief effort.(News)
January 10, 2005... Byline: Michael Bradford Insurance industry businesses are contributing millions of dollars in relief to the tsunami-stricken regions of Asia and Africa. A number of companies have set up relief funds or are sending contributions from...

Tsunami losses mount in as relief efforts increase.(News)
January 10, 2005... Byline: MICHAEL BRADFORD and J. NILS WRIGHT As recovery efforts continue along the tsunami-stricken coasts of Asia and Africa, it has become clear that insurance will not play a big role in rebuilding the devastated region. The...

Equitas settles four big asbestos claims totaling $200 million.(International)(Equitas Holdings Ltd.)(Brief Article)
January 10, 2005... Byline: SARAH VEYSEY LONDON-Equitas Ltd. paid more than $200 million to settle with four major policyholders in the last few weeks of 2004, the latest in a series of large settlements to resolve the company's liabilities. Equitas, the...

Studies shed light on pension plan contributions.(International)
January 10, 2005... Byline: SARAH VEYSEY Two recent studies of large pension plans in the United Kingdom offer wide-ranging insights into their contribution management, accrual structures and debt funding. One study, by London-based research company...

Slow down, Sen. Specter.(Opinions)(Arlen Specter)(Brief Article)
January 10, 2005... SEN. ARLEN SPECTER deserves a great deal of credit for persistence in trying to solve the asbestos litigation mess. We just wish he would slow down a bit. The Pennsylvania Republican, who recently became chairman of the Senate...

World Updates; AIRMIC, CBI promote rehabilitation efforts.(International)(Association of Insurance and Risk Managers)(Confederation of British Industry)
January 10, 2005... The Assn. of Insurance & Risk Managers and the Confederation of British Industry plan to campaign jointly to promote the use of medical and vocational rehabilitation strategies by U.K. employers. The campaign will include the publication of a...

Clear communication necessary.(Opinions)
January 10, 2005... The year-end renewal season appears to have been stable and orderly, with a moderate decrease in prices across most lines of coverage, which is just what many risk mangers have sought. However, despite the pledges and calls for underwriting...

Comings & Goings.(News)(appointments )
January 10, 2005... Agents/brokers: Stuart Dobbie has been appointed chief executive officer of Dallas-based Maclean, Oddy & Associates, succeeding Roy B. Oddy, who held the title of chairman and CEO since the founding of the company in 1983. Mr. Dobbie will...

Goodyear settles cover dispute.(News)(Goodyear Tire & Rubber Co.)(Brief Article)
January 10, 2005... Byline: Dave Lenckus AKRON, Ohio-A group of general liability insurers has agreed to pay Goodyear Tire & Rubber Co. $159 million to settle an environmental coverage dispute with the company, Goodyear reported in a filing to securities...

BI adds online staff.(News)(Business Insurance )(Brief Article)
January 10, 2005... CHICAGO-Business Insurance magazine has added Katherine Downing to its editorial staff in the newly created position of online editor. In this capacity, Ms. Downing will compile and edit news stories for BI's online products, as well as...

NAIC disclosure rules earn praise, plaints.(News)(National Association of Insurance Commissioners)
January 10, 2005... Byline: MEG FLETCHER Now that the National Assn. of Insurance Commissioners has finished initial work on its model rules on broker commission disclosure, eyes are on how state lawmakers will address the question of what insurance producers...

ACE makes change at top of U.S. unit amid investigation.(News)(ACE Ltd.)(Ace INA Holdings Inc.)
January 10, 2005... Byline: DOUGLAS McLEOD HAMILTON, Bermuda-ACE Ltd. replaced the executive in charge of its U.S. operations last week as it widened an internal inquiry in response to investigations by New York Attorney General Eliot Spitzer and federal...

Beecher Carlson puts itself on map in D&O market; Broker hires five Marsh execs.(News)(Beecher Carlson Holdings Inc.)
January 10, 2005... Byline: DOUGLAS McLEOD NEW YORK-Broker Beecher Carlson Holdings Inc. has launched itself in the executive liability brokerage and consulting marketplace with some help from rival Marsh Inc. Beecher last week lured away five top...

Spitzer threatens more charges, wider probe.(News)(Eliot Spitzer)
January 10, 2005... Byline: RUPAL PAREKH and DOUGLAS McLEOD NEW YORK-New York Attorney General Eliot Spitzer said last week that his insurance industry probe is still widening, with new avenues of investigation and more criminal charges in the offing. Mr....

ACE's prospects debated following reserve boost.(News)(ACE Ltd.)
January 10, 2005... Byline: JUDY GREENWALD HAMILTON, Bermuda-Lingering questions remain about the adequacy of ACE Ltd.'s reserves despite the insurer's announcement that it would post a fourth-quarter reserve charge of $298 million for asbestos, environmental...

Late News; US Airways gets OK to dump pension plans.(US Airways Group Inc.)
January 10, 2005... Financially ailing US Airways Group Inc. can terminate three massively underfunded pension plans covering union-represented employees, a federal bankruptcy judge ruled last week. The three plans are underfunded by about $2.4 billion, nearly all...

D&O settlements get personal; Enron, WorldCom deals put directors on the hook.(News)(Directors and Officers)
January 10, 2005... Byline: DAVE LENCKUS Former directors at both Enron Corp. and WorldCom Inc. have agreed to fund class action securities lawsuit settlements with a combination of personal funds and directors and officers liability insurance. While...

Workers compensation competition heating up; More insurers seeking business means many policyholders seeing flat pricing, decreases.(Spotlight: Property/Casualty Market Report)
January 10, 2005... Byline: ROBERTO CENICEROS Some policyholders renewing workers compensation coverage are seeing premium decreases, while others are experiencing flat pricing or a deceleration in their rate increases as more insurers compete for their...

Possible TRIA sunset a wild card in renewal season; Insurance companies preparing for world without government backstop.(Spotlight: Property/Casualty Market Report)(Terrorism Risk Insurance Act.)
January 10, 2005... Byline: MARK A. HOFMANN A cloud is hanging over an otherwise buyer-friendly renewal season-and it's not likely to go away any time soon. Darkening the January renewal season is the cloud of uncertainty over the future of the Terrorism...

Treasury won't change FSA carryover regulations; Revision would impact other 'health care priorities'.(News)(Funding Standard Account )
January 10, 2005... Byline: JERRY GEISEL WASHINGTON-The Treasury Department is sticking with its "use-it-or-lose-it'' requirement for health care flexible spending accounts. Treasury Secretary John Snow has rejected a request by Senate Finance Committee...

Spate of hurricanes stems anticipated rate erosion.(Spotlight: Property/Casualty Market Report)
January 10, 2005... Byline: JUDY GREENWALD and SARAH VEYSEY The series of hurricanes and typhoons that hit the United States and Japan last year did little to shake reinsurers, leaving the reinsurance market disciplined despite some softening rates, say...

D&O insurers step up competition for business.(Spotlight: Property/Casualty Market Report)(Directors and Officers )
January 10, 2005... Byline: DOUGLAS McLEOD and RUPAL PAREKH Risk managers are continuing to benefit from a competitive market for directors and officers liability coverage, while the professional liability insurance marketplace is less competitive but stable,...

Retention to respond to rail crash losses.(News)
January 17, 2005... Byline: Michael Bradford GRANITEVILLE, S.C.-Norfolk Southern Railway Co. will rely on a large self-insured retention to absorb property and environmental liability claims from a deadly train crash and has excess coverage that can be tapped...

Legal briefs: Refusal of service no trigger to wrongful eviction cover.(Perspectives)
January 17, 2005... Racial discrimination by refusing to serve patrons did not fall within the coverage of a restaurant's commercial general liability insurance policy, according to the Supreme Court of Delaware. In 2001, the Delaware Human Relations...

Private, government terror cover is possible.(Perspectives)
January 17, 2005... Byline: Ronald R. Robinson The Terrorism Risk Insurance Act of 2002 is a private financial markets/government insurance program designed specifically to cover only losses from foreign terrorist attacks on American soil, ships, aircraft and...

Advent of gay marriage alters Massachusetts partner benefits.(News)
January 17, 2005... Byline: JUDY GREENWALD Nine months after gay marriage became legal in Massachusetts, employers with operations in the state are still struggling to adjust their benefit plans. Some companies, particularly some that had domestic partner...

Not all health networks are created equal; Makeup of networks, number of providers as important as possible cost savings.(Perspectives)
January 17, 2005... Byline: Joseph Driscoll As national health care costs soar, businesses are straining under increasingly heavy financial burdens. One way that employers and self-funded groups are mitigating costs is by partnering with national health...

Buyers, beware these warnings.(Commentary)
January 17, 2005... Byline: Dave Lenckus It's one of my favorite times of the year-awards time. A couple of weeks ago, Michigan Lawsuit Abuse Watch announced the winners of the Wacky Warning Label Contest. For anyone who has been traveling abroad and...

Products & Services; Companies form health service provider.(News)
January 17, 2005... MARBLEHEAD, Mass.-Two companies, HCPro Inc., a provider of health care regulatory and management information based in Marblehead, Mass., and Stevens & Lee, a professional services company based in Reading, Pa., have launched the Healthcare Risk...

HIPAA requires employers to inform workers of rights.(Health Insurance Portability and Accountability Act of 1996)
January 17, 2005... Byline: JERRY GEISEL WASHINGTON-Employers soon will be required to provide workers who leave their employment with more comprehensive educational statements informing them of their rights under a 1996 federal law that curbs the ability of...

World Updates; Aussie P/C industry stable: Moody's.(Property and casualty insurance )
January 17, 2005... Moody's Investors Service said the outlook for the Australian property/casualty insurance industry remains stable. In a report, Moody's in Sydney, Australia, said rate decreases are being seen in renewals, but "prices are unlikely to hit the...

Storms damage Northern Europe.(International)
January 17, 2005... Byline: Sarah Veysey Severe storms that hit Northern Europe Jan. 8 and 9 have left several people dead and could cause sizable insurance losses. Although many sources said it was too early to tell the full extent of the insured loss...

Rx reimporters fear Canada plans to cut off U.S. drug supply.(News)
January 17, 2005... Byline: RUPAL PAREKH OTTAWA-Possible changes in Canadian regulations that would restrict the export of prescription drugs to the United States are prompting fears of increased health costs among U.S. cities and states that import drugs....

No coverage on tap? Lawsuits over beermakers' ads spark cover fights.(News)
January 17, 2005... Byline: DOUGLAS McLEOD NEW YORK-A series of proposed class action suits accusing beer and liquor producers of targeting underage drinkers has triggered battles between three of the nation's largest brewers and their liability insurers over...

California proposes HMO cover mandate for 'necessary' meds.(News)(Department of Managed Health Care of California for Health maintenance organizations)
January 17, 2005... Byline: JOANNE WOJCIK SACRAMENTO, Calif.-Draft regulations requiring health maintenance organizations in California to cover all "medically necessary'' medications could drive up HMO premiums in the state by making it more difficult for...

Firm barred from seeking damages in singer's death.
January 17, 2005... Byline: JUDY GREENWALD NEW YORK-Rhythm and blues singer Aaliyah was not a "property asset'' of her record company and the company cannot not seek compensation in connection with her death as a result of a 2001 plane crash, a New York...

Health savings accounts see strong early growth.(News)
January 17, 2005... Byline: JERRY GEISEL WASHINGTON-Health savings accounts linked to high-deductible insurance plans now occupy only a small sliver of the health insurance market but are off to a fast start, according to a survey. The survey, based on...

California faces PEO cover flap; Comp fund sues to name firm's clients as insureds.(professional employment organizations)(State Compensation Insurance Fund)
January 17, 2005... Byline: ROBERTO CENICEROS Sacramento, Calif.-Employee leasing firms in California are battling court challenges that could imperil one of their key attractions for employers: their ability to offer cost-effective workers compensation...

FSA obligates brokers to disclose pay.(Financial Services Authority)
January 17, 2005... Byline: SARAH VEYSEY and PETA MILLER LONDON-Risk managers are entitled to ask their brokers to provide details of the commissions they receive and brokers are obliged to respond under regulations that came into force last week. The...

Asbestos reform heads on but cost still unknown.(asbestos liability reform bill)
January 17, 2005... Byline: MARK A. HOFMANN WASHINGTON-Senate Judiciary Committee Chairman Arlen Specter, R-Pa., is sticking with his plan to send an asbestos liability reform bill to the Senate leadership within the next few weeks, even though the reform's...

Bill won't cure state's ailment.(medical malpractice reform bill turns out to be another tax bill)(Brief Article)
January 17, 2005... YOU HAVE TO WONDER what most members of the Maryland General Assembly were thinking when they voted to override Gov. Robert Ehrlich's veto of a medical malpractice "reform'' bill that is basically an exercise in robbing Peter to pay Paul. ...

Time to jumpstart pension reform.(Opinions)
January 17, 2005... Is the new Bush administration pension reform package the way to go in revamping the nation's badly outdated pension laws? Given the absence of complete detail in the package, that is a question we can't answer yet with a definitive yes or...

Reforms seek to shore up PBGC; Proposals include premium hikes, restrictions on bankrupt employers.(Pension Benefit Guaranty Corp.)
January 17, 2005... Byline: JERRY GEISEL WASHINGTON-Employers would pay higher federal insurance premiums but be allowed to contribute to their pension plans after their plans were fully funded, the Bush administration proposed last week. The pension...

German insurers object to unsolicited ratings by Fitch.(International)
January 17, 2005... Byline: PETA MILLER BERLIN-Fitch Ratings Ltd.'s plan to issue insurer financial strength ratings on European insurers has met with resistance from Germany's insurance industry. Fitch in December published a consultative document...

Making a case for tort reform.(Commentary)
January 17, 2005... Byline: Paul Winston If the cause of improving our civil justice system is ever to gain wider support, advocates need to update their tactics. The recent experience of two New York reformers may provide some inspiration. Last week, two...

D&O coverage won't be used for McKesson Corp. settlement.(News)(directors and officers liability )(Brief Article)
January 17, 2005... Byline: Dave Lenckus SAN FRANCISO-No directors and officers liability insurance will be used to pay plaintiffs $960 million to settle a securities class action lawsuit filed against McKesson Corp., a subsidiary and current and former...

Errors & omissions.(News)
January 17, 2005... Due to a production error, a photograph of Dr. Stanley Biber in the Jan. 10 Between the Lines column was not credited. The photo was provided courtesy of Trinidad Chronicle-News Staff reporter Marty Hackett.

Late News; Marsh, Spitzer close to settlement: Report.(Marsh and McLennan Companies Inc. is negotiating settlement with Eliot Spitzer)(Park Strategies L.L.C.)
January 17, 2005... Representatives of Marsh & McLennan Cos. Inc. and New York Attorney General Eliot Spitzer declined to comment on a report that they are nearing a settlement of Mr. Spitzer's fraud and antitrust charges against the brokerage. Citing sources...