Business Insurance articles from January 2006

Business Insurance archives from January 2006

The year of tranquility that wasn't.(First Word)
January 1, 2006... Byline: Rodd Zolkos Picking up a copy of the January 2005 issue of Industry Focus recently, I was struck by how difficult this business of forecasting the year ahead can be. The cover headline read "2005 Outlook Smooth Sailing...

Three Questions.(interview of Hemant Shah)(Interview)
January 1, 2006... Hemant Shah is president and chief executive officer of the Newark, Calif.-based catastrophe modeling firm Risk Management Solutions Inc. Mr. Shah recently talked to Industry Focus about the business of risk modeling and discussed the need for...

JobTarget will power AIA's online career listings.(Industry News)(Brief Article)
January 1, 2006... WASHINGTON-The American Insurance Assn. has entered into an agreement with JobTarget L.L.C., an Internet-based job board management company, under which JobTarget will power the AIA's online job board. The new job board was launched in...

Agents seek list of underfunded workers comp trusts.(Feature)(New York Workers' Compensation Board)
January 1, 2006... Byline: Peter Mantius ALBANY, N.Y.-The New York Workers' Compensation Board is facing growing dissatisfaction from an agents trade group and others with its policy of withholding detailed financial information on the state's 62 workers...

AIG first to gain license in Vietnam.(Industry News)(American International Group Inc.)(Brief Article)
January 1, 2006... NEW YORK-American International Underwriters Overseas Ltd., a subsidiary of New York-based American International Group Inc., has become the first U.S. insurance organization licensed by the government of Vietnam to operate a wholly owned...

S&P issues mixed report card on insurers.(Industry News)(Standard and Poor's Corp.)
January 1, 2006... NEW YORK-Standard & Poor's Corp. has published its latest report card on the North American insurance industry. Titled "Industry Report Card: North American Insurance Holding Companies Persevere Through Hurricanes and Other Challenges,''...

Modeling firm to offer cat modeling service to investment company.(Industry News)(Brief Article)
January 1, 2006... NEWARK, Calif.-An alternative investment management company has licensed catastrophe modeling software from Risk Management Solutions Inc. to help evaluate and manage its portfolio of insurance-linked securities. Newark, Calif.-based RMS...

Risk analyst recognized for promoting global standards.(Industry News)(Gene Feigel was the 2005 recipient of the Ronald H. Brown Standards Leadership Award)(Brief Article)
January 1, 2006... HARTFORD, Conn.-Gene Feigel, vp of engineering at The Hartford Steam Boiler Inspection & Insurance Co., was the 2005 recipient of the Ronald H. Brown Standards Leadership Award for his work to promote global standards. The award, presented...

Embracing technology grappling with security.(Tech Focus)
January 1, 2006... Byline: Rodd Zolkos While the insurance industry has long been accused of lagging other industries in moving to take advantage of opportunities offered by advances in information technology, it's clear that many in the industry have gotten...

CEO sees competition, mergers as `thinning the herd' of insurers.(Gatherings)
January 1, 2006... Byline: Rodd Zolkos LAS VEGAS-Fierce competition and a revolution in technology are driving changes across the insurance industry, changes that will inevitably leave some companies behind. But according to Frank J. Coyne, chairman,...

iiX to integrate agent and broker information on IBQ suite platform.(Industry News)(Brief Article)
January 1, 2006... COLLEGE STATION, Texas-The Insurance Information Exchange (iiX) unit of the Insurance Services Office Inc. has entered into a marketing agreement with application service producer IBQ Systems. Under the agreement, College Station,...

Ward launches advisory firm.(Industry News)(John L. Ward launches Ward Partners L.L.C., )(Brief Article)
January 1, 2006... CINCINNATI-Longtime insurance industry analyst and adviser John L. Ward has launched Ward Partners L.L.C., a Cincinnati-based insurance industry advisory firm. Ward Partners will work with senior management at a select group of insurance...

Tips from `The Crusty Old Claims Guy'.(Last Word)
January 1, 2006... Byline: George F. Berg After decades of toiling in the claims business, I've developed some ideas that I think have worked well for the Mutual Marine Office Inc. part of NYMAGIC Inc. Although our chairman refers to me as "The Crusty...

Property issues, asbestos on 2006 legislative agenda.(Cover Focus: Industry Forecast)
January 1, 2006... Byline: Rodd Zolkos At the federal level and across the states, the insurance industry once again has a number of legislative and regulatory priorities it will be promoting in 2006. Of course, with elections looming in November both in...

Electronic integration needed for medical records `right now'.(Cover Focus: Industry Forecast)
January 1, 2006... Byline: Roseanne White Geisel The need for a national electronic health information system is immediate, according to John Engler, president of the National Assn. of Manufacturers in Washington. "The initiative underway to have an...

Online Benefits offers Web-based tool for brokers.(Industry News)(Brief Article)
January 1, 2006... UNIONDALE, N.Y.-Online Benefits Inc. has added an electronically delivered monthly newsletter to its Web site's "Client Community'' portal. Employee benefit brokers can automatically send an agency-branded version of the newsletter to...

Plan executives push for engaged consumers.(Cover Focus: Industry Forecast)
January 1, 2006... Byline: Roseanne White Geisel Consumer-driven health plan providers this year will strive to build on their success by spurring more members to be true participants in their medical care. That objective will be met by zeroing in on the...

Reserve shortfalls not large enough to trigger ratings downgrade: Report.(Industry News)(Brief Article)
January 1, 2006... NEW YORK-In a recent report about the U.S. property/casualty insurance industry's reserve adequacy, Moody's Investors Service Inc. contends that, for the majority of U.S. P/C companies, reserve shortfalls outside of asbestos claims are no...

Foundation to award grants to disaster relief agencies.(Industry News)(Brief Article)
January 1, 2006... WASHINGTON-The Foundation for Agency Management Excellence, an insurance industry educational foundation of the Council of Insurance Agents & Brokers, will provide $125,000 in grants to three hurricane relief agencies in Louisiana and...

The next asbestos thing? Nanotech risks need large-scale assessment.(Gatherings)
January 1, 2006... Byline: Rodd Zolkos LAS VEGAS-The rise of nanotechnology offers a host of potential benefits for industries ranging from health care to construction to insurance. Yet for the insurance industry, the amazing opportunities offered by...

Industry, regulators at odds over NAIC disaster plan.(Feature)
January 1, 2006... Byline: Meg Fletcher CHICAGO-State insurance regulators who want to reduce homeowners' exposure to natural catastrophes are proposing a broad restructuring of the insurance mechanism, including mandatory all-perils coverage and a national...

The shape of things to come; Industry will feel effect of last year's hurricanes through 2006.(Cover Focus: Industry Forecast)
January 1, 2006... Byline: Rupal Parekh Record hurricane losses in 2005 will not only cause changes to market conditions for the year ahead but also will force revisions of certain underwriting methods and tools used by catastrophe insurers and reinsurers,...

Investors ask insurers, brokers to study climate change risks.(Cover Focus: Industry Forecast)
January 1, 2006... Byline: Rupal Parekh Concerned about future profitability in the wake of severe losses from natural catastrophes, a group of major U.S. institutional investors is asking leading insurers, reinsurers and brokers to detail their potential...

Bermuda's Class of 2005.(Cover Focus: Industry Forecast)
January 1, 2006... Class 4 insurers approved since Jan. 1, 2005 * AMLIN BERMUDA LTD. * ARIEL REINSURANCE COMPANY LTD. * ARROW CAPITAL REINSURANCE COMPANY, LIMITED * ASCENDANT REINSURANCE LTD. * CASTELLUM RE LTD. * FLAGSTONE REINSURANCE...

Beecher Carlson launches robust online program.(Tech Focus)(Brief Article)
January 1, 2006... Atlanta-based insurance brokerage and risk management consultants Beecher Carlson has launched NOVUS, a browser-based insurance program building system that accelerates the issuance of commercial insurance policies. NOVUS enables real-time...

KMG subsidiary first to use new compliance software.(Tech Focus)(Brief Article)
January 1, 2006... Minnetonka, Minn.-based employee benefits provider KMG America's Kanawha Insurance Co. subsidiary is the first company to implement InSystems' new InSystems Writer 1.1 document and compliance automation software system. InSystems Writer is...

THE QUOTE.(Industry News)
January 1, 2006... 'Building codes are huge. You can't change where a state's located. You can't change people's decisions to live near the coast. AIA is very supportive of building codes.' Tammy Velasquez VP, State Affairs American Insurance Assn.

Employers face bias rule for Internet job applications; Recruitment regulation could lead to increase in class action lawsuits.(News)
January 2, 2006... Byline: JUDY GREENWALD Employers with federal contracts that recruit job applicants through the Internet face more onerous record-keeping requirements under a federal rule that will take effect Feb. 6, and they risk giving ammunition to...

Web recruitment needs more care.(News)
January 2, 2006... Byline: JUDY GREENWALD Employers that are federal contractors must take a new look at their Internet job applicant procedures in light of a federal rule that takes effect Feb. 6, say observers. This involves evaluating what they are...

Brokers settle charges over compensation practices; Restitution made to clients to end state officials' probes into steering.(Spotlight: Year in Review--Risk Management)
January 2, 2006... Byline: Sally Roberts For much of the first half of 2005, the question wasn't so much which of the world's largest brokerages would be next to settle investigations into its compensation practices but rather when each was going to settle....

Risk Management 2005.(Spotlight: Year in Review--Risk Management)(Calendar)
January 2, 2006... JANUARY * Continuing investigations into insurer and broker practices continue to shake the insurance industry as ACE USA President Susan Rivera resigns while ACE Ltd. conducts an internal inquiry in response to investigations by New York...

Just-in-time extension for terror coverage backstop.(Spotlight: Year in Review--Risk Management)
January 2, 2006... Byline: Mark A. Hofmann A report delivered at the last possible minute helped assure that the fate of the federal reinsurance backstop created by the Terrorism Risk Insurance Act wouldn't be determined until the last possible minute,...

2005's risk management newsmakers.(Spotlight: Year in Review--Risk Management)
January 2, 2006... While many may see the probe by Connecticut Attorney General Richard Blumenthal into insurance industry abuses as a me-too move following the 2004 investigations by New York Attorney General Eliot Spitzer, few will disagree that Mr. Blumenthal...

Hurricane losses leave scar on market in 2005; Contingent commission scandals take a back seat to Katrina, Rita and Wilma.(Spotlight: Year in Review--Risk Management)
January 2, 2006... Byline: MICHAEL BRADFORD While the contingent commission scandals may not be completely forgotten by risk managers, they have taken a back seat to a headline-grabbing storm season. As 2005 began, the investigations by New York Attorney...

Directors focus on insurance after costly settlements.(Spotlight: Year in Review--Risk Management)
January 2, 2006... Byline: Dave Lenckus Unusually costly settlements of class action securities lawsuits filed against the corporate directors who oversaw two of the most spectacular meltdowns in U.S. corporate history pushed directors and officers liability...

What to look forward to as the new year begins.(Editorial)
January 2, 2006... As the old year ends and a new year begins, Business Insurance continues its tradition of looking back at the predictions we made for 2005, and looks forward to what we think will be "in'' and "out'' in risk management and employee benefits in...

Canadian court ruling reduces D&O exposure on need for disclosure.(News)(directors and officers)
January 2, 2006... Byline: GLORIA GONZALEZ TORONTO-A recent decision by the Ontario Court of Appeal is seen as a big win for the directors and officers of Canadian companies and their insurers because it reversed a lower court ruling that could have led to a...

Court OKs manufacturer's restructuring plan to manage current, future asbestos claims.(World)
January 2, 2006... Byline: SARAH VEYSEY LONDON-Turner & Newall Ltd., a U.K. unit of Southfield, Mich.-based automotive parts manufacturer Federal Mogul Corp., may set up a so-called "company voluntary arrangement'' or a "scheme of arrangement'' to...

London market striving to meet deadlines for contract certainty.(World)
January 2, 2006... Byline: SARAH VEYSEY LONDON-London market insurers and brokers likely have met interim contract certainty targets for 30% of all business placed in December 2005 to be complete at coverage inception, but the market still has to overcome...

Central, Eastern Europe awash in flood losses.(World)
January 2, 2006... Byline: SARAH VEYSEY Total insured losses from flooding in Central and Eastern Europe last year reached more than e1.25 billion ($1.48 billion), according to a report by reinsurance brokerage Guy Carpenter & Co. Ltd. in London. Many...

The top ten reasons to make lists in 2005.(Commentary)
January 2, 2006... Byline: Rodd Zolkos, Senior Editor As each year ends-along with the holidays, gatherings of friends and family and assorted examples of overindulgence-comes a dramatic reminder of just how enamored we all are of lists. As one year...

Bermuda 'Class of 2005' awarded secure ratings.(News)
January 2, 2006... Byline: RUPAL PAREKH Any concerns over the swiftness of ratings being assigned to the so-called "Class of 2005'' Bermuda startups are largely unwarranted, rating agencies and reinsurance intermediaries say. Confidence can be drawn from...

Frontier Insurance suit to proceed.(News)
January 2, 2006... Byline: MICHAEL BRADFORD NEW YORK-A lawsuit charging directors and officers of Frontier Insurance Co. with, among other things, violating insurance laws and breaching fiduciary duties, will continue in its current form after defendants...

Transit union cedes ground on health care.(News)(Brief Article)
January 2, 2006... Byline: Gloria Gonzalez NEW YORK-The Metropolitan Transit Authority and the Transport Workers Union have reached a tentative agreement on a contract that includes employee contributions to health care costs but preserves current pension...

Error & Omissions.(Corrections)(Correction Notice)
January 2, 2006... A story in the Dec. 26, 2005, edition contained an out-of-date affiliation for Ellen Vinck. Ms Vinck works at BAE Systems Ship Repair.

Late News; WellPoint gets N.Y. access with WellChoice deal.(Brief Article)
January 2, 2006... Indianapolis-based WellPoint Inc. has completed its $6.5 billion acquisition of fellow for-profit Blues insurer WellChoice Inc. The acquisition will allow WellPoint to gain a foothold in the key New York market, where WellChoice has a major...

Products & Services; CCH offers online tool for 401(k) plan sponsors.(News)
January 2, 2006... RIVERWOODS, Ill.-CCH Inc., a provider of employment law and human resources information and software, is offering an online tool to assist plan sponsors who are responsible for 401(k) and 403(b) plans. CCH's offering, the Plan Investment...

Insured hurricane losses may hit $57.6 billion.(News)
January 2, 2006... Byline: MICHAEL BRADFORD Three major hurricanes that devastated the U.S. Gulf Coast in 2005 will cost insurers and reinsurers $57.6 billion, an analytics and research firm estimates. Advisen Ltd. based the pretax figures on losses from...

Record storm damages set scene for sharp rate hikes.(Spotlight: Year in Review--Risk Management)
January 2, 2006... Byline: David Lenckus They came early and often, and they hit hard. Very hard.So many inordinately powerful hurricanes and tropical storms formed in 2005 that the World Meteorological Organization ran out of names for them and had to...

Greenberg era ends at AIG amid finite investigations.(Spotlight: Year in Review--Risk Management)
January 2, 2006... Byline: Judy Greenwald "Tumultuous'' might be an understatement in describing the past year for New York-based American International Group Inc. and its former chairman and chief executive officer, Maurice R. Greenberg. And many...

AIA chief aims for consensus; Public understanding is key goal.(American Insurance Association)
January 2, 2006... Byline: MARK A. HOFMANN A life in public service isn't the worst preparation for taking the reins of a major insurance industry association, according to the new president of the American Insurance Assn. In fact, "it's very close to...

Risk managers see benefits of fees disclosure; But signing off may add to workload of buyers.(News)
January 2, 2006... Byline: SALLY ROBERTS Risk managers recently renewing their insurance programs got a taste of the new broker disclosure policies mandated under settlement agreements with state attorneys general and the world's largest brokerages last...

Updates; Benfield Group opens South Korean office.(World)(Broker Benfield Group Ltd)
January 2, 2006... Broker Benfield Group Ltd. has opened an office in Seoul, South Korea. Benfield Korea Ltd. has been licensed by the Financial Supervisory Service of Korea, London-based Benfield said in a statement. Choi Chiwan, formerly a senior executive at...

Risk managing your management risks.(Commentary)
January 2, 2006... Byline: Paul Winston, Editorial Director As 2006 begins, risk managers, employment attorneys and liability insurers can take heart that there continues to be a strong need for their services in keeping managers from making...

Potential avian flu pandemic raises insurance questions.(News)
January 2, 2006... Byline: MICHAEL BRADFORD An avian flu pandemic could leave employers with decimated workforces and a host of insurance coverage questions, while insurers could suffer billions of dollars in losses, experts contend. The H5N1 strain of...

Sedgwick CMS finds growth-oriented buyer; Diversification bid by title insurer will aid in cross-selling.(News)
January 2, 2006... Byline: RUPAL PAREKH MEMPHIS, Tenn.-Fidelity National Financial Inc.'s proposed $635 million purchase of claims administrator Sedgwick CMS Holdings Inc. will help the title insurer diversify and provide Sedgwick CMS with growth...

More women win top jobs but more diversity needed.(Editorial)(Brief Article)
January 2, 2006... Will 2006 be the Year of the Woman for the insurance industry? A recent string of executive appointments suggests that women are finally advancing to the top echelons of large industry companies. In the past few weeks, SAFECO Corp. and...

At BusinessInsurance.com.(News)
January 2, 2006... New Online Poll: Will your captive insurance company take on more or less risk in 2006? Items in the Late News column originally appeared in BI's Daily News feature on www.businessinsurance.com. Visit the BI Web site to sign up to...

ULR pays $2 million to settle Spitzer suit.(Universal Life Resources)
January 9, 2006... Byline: Douglas McLeod NEW YORK-Defunct life and disability insurance broker Universal Life Resources and its chief executive officer, Douglas P. Cox, have paid $2 million to settle charges that ULR took undisclosed contingent commission...

Tort reform backers hope to stay on winning streak.
January 9, 2006... Byline: MARK A. HOFMANN Tort reform advocates hope to maintain the momentum they gained last year as they push their agendas in 2006. Last year began with enactment of the most comprehensive federal tort reform in recent memory, the...

IBM to freeze its DB plans to cut costs; IT giant will enhance 401(k) plan in 2008.(defined benefit)
January 9, 2006... Byline: JERRY GEISEL ARMONK, N.Y.-IBM Corp.'s decision to completely freeze its massive defined benefit plans could accelerate what is already a large-scale movement by big employers to close out their plans in favor of beefed-up 401(k)...

Acordia timeline.(Brief Article)
January 9, 2006... 1989: Indianapolis-based Anthem Inc. forms Acordia to serve as its health care administration and distribution arm. 1991: Acordia emerges on the insurance brokerage scene with its acquisition of Robinson-Connor Inc. 1991-97: Scores of...

Comp for miner deaths written by new insurer; Private company replaced state fund.(BrickStreet Mutual Insurance Co)
January 9, 2006... Byline: MEG FLETCHER TALLMANSVILLE, W. Va.-The owner of the West Virginia coal mine where twelve miners were killed last week is insured for its primary workers compensation exposure with a private insurer that assumed the business of the...

California lawmakers take aim at workers comp law reforms.(News)(workers compensation)
January 9, 2006... Byline: ROBERTO CENICEROS SACRAMENTO, Calif.-California legislators returned to work last week with key Democratic lawmakers vowing to revamp portions of the workers compensation reforms that have helped insured and self-insured employers...

Comings & Goings - Industry.Bradley Hamburger.(News)(Bradley Hamburger joins Foa & Son )(Alan Carnegie joins Heath Lambert National )(Steve Barton joins Cooper Gay Group )
January 9, 2006... Brokers Bradley Hamburger has joined New York-based Foa & Son as a senior vp. Previously, he was a vp for the Halland Cos. Heath Lambert National has appointed Alan Carnegie managing director of its operations in Aberdeen, Scotland....

Co-op, Arcadia to revamp pension plans; Unions oppose reduced benefits.
January 9, 2006... Byline: SARAH VEYSEY Two more well-known U.K. companies last week announced changes to their pension offerings designed to curb the costs associated with providing retirement benefits. Manchester, England-based retail company The...

Heinz catches up with growing trend of captive benefits.
January 9, 2006... Byline: JERRY GEISEL WASHINGTON-One of the nation's best-known consumer food products manufacturers is asking the Labor Department for permission to fund employee benefit risks through its Vermont captive, while the U.S. affiliates of a...

Hurricanes, other cats cost insurers $75 billion; Munich Re says 2005 losses double previous year's totals.
January 9, 2006... Byline: SARAH VEYSEY Insured losses from natural catastrophes totaled a record $75 billion in 2005, almost double the previous highest total set in 2004, according to estimates from Munich Reinsurance Co. Hurricane Katrina was the...

Late News; XL's Veghte named reinsurance chief.(James Veghte joins XL Capital Ltd.)(whistleblowers law )(Montpelier Re Holdings Ltd. launches retrocessional reinsurer )
January 9, 2006... XL Capital Ltd. has appointed James Veghte to the position of chief executive of reinsurance general operations. Mr. Veghte most recently served as chief operating officer of XL's reinsurance operations and president and chief executive officer...

Final regulations provide guidance on Roth 401(k)s.(News)
January 9, 2006... Byline: JERRY GEISEL WASHINGTON-The Internal Revenue Service is moving to clear the way for employers to offer a new type of tax-favored 401(k) plan, but plan adoption is likely to be slow. Named after William Roth, a former chairman...

Munich insurer wrote ice rink liability.(Versicherungskammer Bayern Konzern)(Brief Article)
January 9, 2006... Byline: Barbara Cockburn BAD REICHENHALL, Germany-Liability insurance for the ice skating rink that sustained a collapsed roof last week in southern Germany killing 15 people, was written by municipal insurer Versicherungskammer Bayern...

New Acordia CEO Wissinger banking on strength of integrated Wells Fargo units.(chief executive officer)
January 9, 2006... Byline: SALLY ROBERTS CHICAGO-Wells Fargo & Co. has some lofty goals when it comes to the insurance industry-namely becoming the world's largest insurance brokerage. To do this, the banking giant last month said it was integrating all...

Buyers resist rate hikes as higher reinsurance costs loom.
January 9, 2006... Byline: CAROLYN ALDRED Marine renewals were chaotic at year-end 2005, as insurers anticipated higher reinsurance costs but failed to push through large increases for primary coverage. Several underwriters expected that the magnitude of...

Senate passage of LARA would keep tort reform rolling.(Lawsuit Abuse Reduction Act)
January 9, 2006... LAST YEAR WAS among the most rewarding that tort reform advocates have experienced in a long time. We certainly hope they can build on that success this year. In 2005 Congress passed and President Bush signed the most comprehensive federal...

Storms bring tough times for property cover buyers.
January 9, 2006... Byline: SALLY ROBERTS and MARK A. HOFMANN If property underwriters had played Santa Claus this holiday renewal season, many risk managers probably would have found lumps of coal in their stockings. Last year's unprecedented hurricane...

E&O rates flat or lower as capacity remains plentiful.(Errors + Omissions Insurance )
January 9, 2006... Byline: GLORIA GONZALEZ Most buyers of errors and omissions liability insurance encountered a stable market in 2005. Pricing for the majority of E&O risks was flat to as much as 10% lower-a welcome change after years of double-digit...

Appeals court rejects AWI's plan to resolve asbestos liabilities.(Armstrong World Industries)
January 9, 2006... Byline: DOUGLAS MCLEOD PHILADELPHIA-A federal appellate court has upheld a ruling rejecting a Chapter 11 reorganization plan aimed at resolving Armstrong World Industries Inc.'s massive asbestos liabilities. A panel of the 3rd U.S....

Caribbean nation changing outlook on disaster preparation; Dominican risk management gets international aid.
January 9, 2006... Byline: MICHAEL BRADFORD SANTO DOMINGO, Dominican Republic-The Dominican Republic is changing its approach to disaster risk management by preparing for calamities rather than emphasizing recovery efforts after hurricanes, floods,...

Insurers compete in stable workers comp markets.
January 9, 2006... Byline: ROBERTO CENICEROS Buyers with January renewal dates for workers compensation policies are facing a stable market with nearly flat rates, although some accounts have seen decreases of as much as 10%. On average, rates nationwide...

Liability rates slip as most buyers enjoy easy renewals.
January 9, 2006... Byline: MICHAEL BRADFORD A quiet year in the general liability market is a good year for insurance buyers. Rates didn't rise in 2005 for many policyholders, and some are seeing reductions at current renewals. And, unless reinsurers...

Think twice before ending defined benefits plans.(Editorial)
January 9, 2006... If additional evidence is needed to show how rapidly the nation's defined benefit plan system is eroding, last week's announcement by IBM Corp. that it is freezing its plans should provide it. IBM, after all, isn't just some employer. It...

Rate increases for reinsurance prove narrower than expected.
January 9, 2006... Byline: JUDY GREENWALD and SARAH VEYSEY Reinsurance rates increased significantly during the January renewals for property catastrophe accounts that had losses in 2005, but the across-the-board increases many expected never materialized,...

Undercutting not seen among new reinsurers; Latecomers' added capacity moderates prices.
January 9, 2006... Byline: Judy Greenwald and Sarah Veysey New Bermuda catastrophe reinsurers quietly entered the January renewal reinsurance market, providing additional capacity while simultaneously conducting their underwriting prudently and cautiously,...

Updates; JLT forms reinsurance unit.(Jardine Lloyd Thompson)
January 9, 2006... Jardine Lloyd Thompson Group P.L.C. has launched a wholly owned reinsurance subsidiary, JLT Reinsurance Brokers Ltd. headed by Alan Griffin as chairman and chief executive officer. JLT Re will handle much of the reinsurance business previously...