Business Insurance articles from January 2007

Business Insurance archives from January 2007

An intolerable level of incompetence.(Commentary)
January 1, 2007... Byline: DAVE LENCKUS If tort reform ever returns to the national or local stage, it ought to exclude organizations that are truly irresponsible. For example: my former bank-and others like it. My ordeal began with a phone call from...

Top risk management newsmakers of 2006.(Spotlight: Year in Review: Risk Management)
January 1, 2007... Warren Buffett Billionaire financier Warren Buffett made many in the insurance industry happy in 2006 with deals to absorb the runoff liabilities of Converium Holding Ltd. and Equitas Ltd. Zug, Switzerland-based Converium announced in...

Stock Index.(Brief article)
January 1, 2007... Year End Stock Index: Yearly data for all 85 companies that comprise the BI Stock Index can be found at www.businessinsurance.com. Stock Index [12/26 - 12/29]: Up-to-the-minute data for all 85 companies that comprise the BI Stock Index can...

Sidecars to the rescue in boosting catastrophe capacity; Special vehicles join ILWs, cat bonds as sources of capital.
January 1, 2007... Byline: Judy Greenwald For reinsurers, 2006 could be called the year of the sidecar, as the market increasingly turned to this relatively new vehicle to provide much-needed catastrophe capacity. Sidecars, which often are capitalized by...

Finite reinsurance market survives, but in a diminished form; Probes of deals led to big settlements, exits by top executives.(Spotlight: Year in Review: Risk Management)
January 1, 2007... Byline: Judy Greenwald Call it the market that would not die. The finite market has survived, albeit in modified form, despite numerous regulatory investigations; indictments; restatements; resignations; shareholder lawsuits; and...

IRS to resume approving hybrid pension plan conversions; Reform law removed uncertainty that led to agency moratorium.(News)(Internal Revenue Service)
January 1, 2007... Byline: GLORIA GONZALEZ WASHINGTON-The Internal Revenue Service's decision to resume processing cash balance pension plan conversion applications may encourage more employers to offer cash balance and other hybrid pension plans, experts...

Errors & Omissions.(Corrections)(Correction notice)
January 1, 2007... Due to a production error, the final edition of 2006 published by Business Insurance listed an incorrect issue number. The Dec. 25, 2006, magazine was Vol. 40, No. 52, and was the final regular issue of the year. BI's 2007 Market Sourcebook,...

Insurers profiting from slow cat year; Underwriting income soars for P/C insurers in nine-month results.(News)(Financial report)
January 1, 2007... Byline: JOANNE WOJCIK JERSEY CITY, N.J.-Thanks to a much lighter year for catastrophes, U.S. property/casualty insurers are back on solid financial ground. Nine-month 2006 results announced last week by the Insurance Services Office...

Winds of change blown by politics, not nature; Lack of catastrophes, steady med mal rates are major 2006 factors.(Spotlight: Year in Review: Risk Management)
January 1, 2007... Byline: DAVE LENCKUS Risk managers in the new year are contemplating the potential good and bad fallout from what they consider to be last year's most important news stories: the 2006 midterm elections and the hurricane season that wasn't....

U.K. employers liability premiums expected to drop further in 2007; Despite improvements in safety, asbestos remains 'a big issue'.(International News)
January 1, 2007... Byline: STUART COLLINS Buyers in 2007 can expect a further fall in employers liability rates in the United Kingdom, a trend that plays against a background of improved safety, but rising concerns, about work-related illnesses, according to...

Insurer profits may hinder TRIA extension.(News)(Terrorism Risk Insurance Act)(Brief article)
January 1, 2007... Byline: Joanne Wojcik Property/casualty insurers' strong financial results in 2006 could hamper political discussions at the state and federal levels, said Greg Heidrich, senior vp of policy development and research for the Property...

Brokers make 2006 a blockbuster year for M&A activity; Also noteworthy was megadeal for M&M that didn't pan out.(mergers and acquisitions)
January 1, 2007... Byline: Sally Roberts Insurance brokers were busy wheeling and dealing in 2006 as new firms were formed, mergers were made, new owners were considered, merger talks were halted and a blockbuster acquisition offer was rejected. The year...

Mother Nature gives property owners and insurers a break; Even so, rate relief for cat-exposed risks extremely hard to find.(insured property damage)
January 1, 2007... Byline: Mark A. Hofmann The fierce winds of 2005's record hurricane season continued to batter the commercial property insurance market throughout 2006. Risk managers, particularly those with catastrophe-exposed properties along the...

2006 Timeline.(insurance industry)(Industry overview)
January 1, 2007... JANUARY Risk managers report mixed market conditions as 2006 begins. While rates for many liability lines drop, the hurricane-battered commercial property market hardens significantly as buyers face double-digit increases. Top...

Greenberg establishes charitable foundation; Starr International Foundation funded with AIG stock.(Maurice R. Greenberg, American International Group Inc.)
January 1, 2007... Byline: RUPAL PAREKH ZUG, Switzerland-It's the season for giving, and Maurice R. Greenberg has begun offering grants from a new charitable foundation supported by the Starr International Co. Ltd. Based in Zug, Switzerland, Starr...

Job qualifications at heart of ruling on hiring of locksmiths; Woman allowed to sue over hiring of unqualified men.(News)(cases)(Brief article)
January 1, 2007... Byline: JUDY GREENWALD PHILADELPHIA-A woman who does not meet the qualifications for a job may sue for sexual discrimination for being denied a promotion if the successful male applicant also does not meet the job's qualifications, a...

Quebec pension law requires employers to maintain reserve; Hedge against plans' underfunding puts squeeze on sponsors.(News)(insurance industry)
January 1, 2007... Byline: GLORIA GONZALEZ An amendment to Quebec's pension law imposes strict provisions regarding the funding and management of defined benefit plans and may be another justification for Canadian employers to consider terminating their...

Pre-Christmas storm lightly dusts insurers; Luck may not hold as second snowstorm strikes Denver area.(News)
January 1, 2007... Byline: SALLY ROBERTS DENVER-While the blizzard that blanketed parts of Colorado right before Christmas may have put a damper on people's holiday plans, it did not result in much insured damage, according to initial reports. But a...

Life insurers lead way to 'Triple X' captives; New facilities dwarf premium volume of traditional captives.(News)
January 1, 2007... Byline: ROBERTO CENICEROS Life insurers are driving a growing trend in forming U.S. reinsurance captives that easily dwarf the average premium volume written by property/casualty captives. The new so-called "Triple X'' facilities also...

Mississippi AG seeks settlement of Katrina suit; Offer to insurers follows move by federal judge to send case back to state court.(Mississippi Attorney General Jim Hood)
January 1, 2007... Byline: LOUISE ESOLA A federal judge tossed Mississippi Attorney General Jim Hood's lawsuit seeking to compel insurers to cover storm surge damage back to a state court, preceding Mr. Hood's announcement last week that he would like the...

Climate change seen boosting European winter storms, damage; Swiss Re analysis examines long-term effects through 2085.(International News)
January 1, 2007... Byline: RICHARD MILLER While the threat of severe winter storms in Europe is expected to be low this season, some experts believe that climate change will lead to more frequent and intense winter storms, causing increased damage in the...

Workplace fatalities drop: U.K. report.(International News)
January 1, 2007... Byline: Stuart Collins Since 1974, the lives of some 5,000 workers in the United Kingdom have been saved due to accident prevention measures, according to the Health and Safety Commission. This estimate takes into account the trend toward...

Lobsterman pinched in workers comp fraud.(End Page)(workers health insurance)(Brief article)
January 1, 2007... It wasn't a red flag so much as something that turns red when cooked-lobsters sold by a Lamoine, Maine, resident while he was collecting workers compensation benefits-that led investigators to set a trap of their own. William Fennelly...

California updates reinsurance rules after protracted talks with industry; In compromise, companies and state agree to monitor regs.(News)
January 1, 2007... Byline: JUDY GREENWALD SACRAMENTO, Calif.-New California reinsurance regulations-the result of extensive negotiations between the state Department of Insurance and the industry-go into effect today, but do not include sweeping changes, say...

'Disinhibited' libido merits 3M pound award.(End Page)(Brief article)
January 1, 2007... A former U.K. warehouse employee who claimed that a work-related accident triggered his infidelity and wrecked his marriage has been awarded more than [pounds sterling]3 million (nearly $6 million) in damages by a London court. Stephen...

Dieters put good health before looks.(End Page)(Survey)(Brief article)
January 1, 2007... More than half of U.S. adults think they should lose some weight, so it should come as no surprise that a majority are resolving to shed pounds during the new year. According to a survey conducted for New York-based Weight Watchers...

Birthday 'bomb' failed to detonate.(Medco Health Solutions Inc.)(Brief article)
January 1, 2007... Sometimes, the best risk management strategy for a company is guarding against disgruntled employees, say federal prosecutors in Newark, N.J. Authorities last month arrested a systems administrator for Medco Health Solutions Inc. for...

Questions & Answers.(Howard Mills of Deloitte & Touche L.L.P. )(Interview)
January 1, 2007... Howard Mills is the newly appointed chief advisor, global insurance industry practice, of Deloitte & Touche L.L.P. and the outgoing New York superintendent of insurance. Mr. Mills spoke recently to Business Insurance Associate Editor Rupal...

What's ahead in 2007? BI offers 'ins' and 'outs'.(Opinions)(Business Insurance)
January 1, 2007... EACH NEW YEAR brings an opportunity to look back at the past year as well as ahead to what may be in store. Continuing a long tradition, Business Insurance offers our predictions on what will be "in'' and "out'' in risk management and employee...

Top Risk Management Stories of 2006.(Spotlight: Year in Review: Risk Management)(Brief article)
January 1, 2007... 1. More insurers and brokers settle bid-rigging charges 2. Property market tightens in storm-prone areas 3. Consolidations and startups among brokers 4. Sidecar growth explodes 5. Probes continue into the finite market 6....

In Brief.(News)(acquisitions)(Majestic Insurance Co.)(death of Keith L. Shroyer)(Obituary)
January 1, 2007... Gallagher settles suit on contingents Arthur J. Gallagher & Co. on Friday said it will pay nearly $37 million to end charges that it participated in an industrywide contingent commissions scheme. The allegations came as part of a federal...

Bid-rigging, finite re probes lead insurers to settlement table; States turn attention to sales of annuities and personal lines.(Spotlight: Year in Review: Risk Management)
January 1, 2007... Byline: Rupal Parekh The U.S. insurance industry settlement frenzy of 2005 showed no signs of letup in 2006. As authorities continued to aggressively pursue resolutions with insurers over bid-rigging charges and finite reinsurance...

Ex-Unum exec pleads guilty to fraud; Probe of sales commissions led to Tennessee charges, insurer says.(News)(UnumProvident Corp.)(James Michael Foley)(Brief article)
January 1, 2007... Byline: ROBERTO CENICEROS MEMPHIS, Tenn.-James Michael Foley, a vp of sales for UnumProvident Corp., recently pleaded guilty to fraud charges related to group product sales, according to the U.S. Attorney's office. Mr. Foley sold...

On the Web.(Brief article)
January 1, 2007... BI ONLINE EXECUTIVE FORUMTM Rx relief webinar now on demand How can employers reduce the high cost of prescription drug benefits? This was the subject of last monthAEs live Business Insurance Online Executive Forum: "Hard to Swallow:...

Online Poll at www.businessinsurance.com.(Opinions)(Survey)(Brief article)
January 1, 2007... Will the proposed easing of collateral requirements for non-U.S. reinsurers be beneficial for U.S. risk managers? No - 61.9% Yes - 38.1% Next weekAEs poll: How likely is consolidation among prescription benefit managers to help...

On the Web.(health insurance costs)
January 1, 2007... BI ONLINE EXECUTIVE FORUMTM Rx relief webinar now on demand How can employers reduce the high cost of prescription drug benefits? This was the subject of last month's live Business Insurance Online Executive Forum: "Hard to Swallow:...

By the numbers.(Industry News)(growth of Class action lawsuits across industries)(Brief article)
January 1, 2007... More companies face class actions One third of surveyed companies have at least one class action pending, compared with the 2005 survey, in which just 18% reported any class actions within the previous three years. Industries with the...

Three questions.(interview of Praetorian Financial Group's Rod Fox)(Interview)
January 1, 2007... Building a successful specialty commercial lines underwriting company takes skill, and that's the task before New York-based Praetorian Financial Group. Praetorian was formed in 2006 from operations run by Clarendon Insurance Co., a unit of...

Will success of '06 continue through '07?(Cover: Focus Industry Forecast 2007)
January 1, 2007... Byline: Meg Fletcher Property/casualty insurers are basking in a nearly catastrophe-free year and soaring profits in 2006, but they know that glow could fade soon. The key is whether they can maintain underwriting discipline in the...

There are also unknown unknowns.(First Word)
January 1, 2007... Byline: Rodd Zolkos, As I write this, rain is pounding the Chicago streets below our offices-strange weather for Chicago in January, though today's 50-degree high temperature was a little off kilter as well. And, as the rain falls, I,...

Businesses in no rush to adopt Windows Vista OS.(Tech Focus)
January 1, 2007... Byline: Rodd Zolkos One of the most long-awaited developments on the IT scene came late last year with the release of Microsoft Corp.'s Windows Vista operating system. But, anticipation aside, it seems unlikely that businesses will rush to...

Sapiens introduces INSIGHT for Billing.(Tech Focus)(Sapiens International Corp. N.V)(Brief article)
January 1, 2007... CARY, N.C.-Sapiens International Corp. N.V. has released its billing module for property/casualty insurers in North America. Sapiens INSIGHT for Billing is part of Sapiens' INSIGHT suite of insurance solutions. The company says its billing...

Best industry practices back PEO certification.(Feature: Perspective)(professional employer organization)
January 1, 2007... Byline: Edie Clark The $51 billion U.S. professional employer organization industry has worked hard to develop independent performance certification and accreditation programs to provide greater assurance to the marketplace, including...

Gallagher acquires employee benefits broker.(Industry News)(Arthur J. Gallagher & Co)(Mid America Group Inc)(Brief article)
January 1, 2007... ITASCA, Ill.-Arthur J. Gallagher & Co. has acquired Philadelphia-based employee benefits consultant and broker Mid America Group Inc. Terms of the transaction were not disclosed. Established in 1970, Mid America Group offers a wide range of...

RMS launches cat model for quakes in India.(News)(Risk Management Solutions Inc.)(Brief article)
January 1, 2007... NEWARK, Calif.-Risk modeling firm Risk Management Solutions Inc. has released the RMS India Earthquake Model. The new model was developed for use in the RMS RiskLink catastrophe modeling system, and was built in partnership with Aon Re Asia...

Insurance executive driven by the spirit of innovation.(Industry News)(Brief article)
January 1, 2007... Byline: Meg Fletcher WOODLAND HILLS, Calif.-Whether selling property/casualty coverage to small commercial clients or removing staples, Erwin Cheldin tries to find a better way. That spirit drove Mr. Cheldin, who founded Cheldin...

Schinnerer launches E&O cover program.(News)(Victor O. Schinnerer & Co. Inc.)(Brief article)
January 1, 2007... CHEVY CHASE, Md.-Victor O. Schinnerer & Co. Inc. is offering a new insurance agents and brokers errors and omissions program. The program targets small to midsize property/casualty agents and brokers, and can accommodate agencies with up to...

Unsettling business; `Stranger-oriented life insurance' a growing but worrisome trend.(Cover: Focus Industry Forecast)
January 1, 2007... Byline: Rodd Zolkos Among the insurance industry trends that seem likely in 2007, two appear to be inevitably linked: continued growth in the life insurance settlement business and continued efforts by life insurance companies and...

`Spontaneous combustion' is a long time in the making.(Last Word)
January 1, 2007... Byline: Frank Keating In a burst of consensus, 28 states have agreed in little more than two years to cede sovereign authority for life insurance product approval to a new Interstate Insurance Product Regulation Commission. Seemingly...

The quote.(News)
January 1, 2007... `This is a dream time for the property/casualty insurance industry.' -Sean Mooney, Chief Economist, Guy Carpenter & Co. Inc

On the Move.(Appointment)
January 1, 2007... Hamilton, Bermuda-based Max Re Capital Ltd. has named W. Marston Becker chairman and chief executive officer. Mr. Becker, who previously served as chairman and CEO of Trenwick Group Ltd., had been acting chairman and CEO after Max Re founder...

Ironshore to write worldwide cat book.(Industry News)(Ironshore Inc.)(Brief article)
January 1, 2007... HAMILTON, Bermuda-Having raised more than $1 billion through a private placement of equity securities, a new Bermuda-based catastrophe insurer plans to use the capital to write a worldwide book of property catastrophe business. Through its...

Horbelt honored for runoff efforts.(Industry News)(Centre Solutions (Bermuda) Ltd.'s Oliver J. Horbelt)(Association of Insurance and Reinsurance Run-Off Companies)(Brief article)
January 1, 2007... Byline: Rupal Parekh EAST RUTHERFORD, New Jersey-Oliver J. Horbelt, president and chief executive officer of Centre Solutions (Bermuda) Ltd., has been recognized for his contributions to the runoff insurance industry with the Association...

Off-the-shelf tech solutions offer maximum flexibility.(Feature: Gatherings)(OneBeacon Insurance Group's Arne Herenstein)(Conference news)
January 1, 2007... Byline: Rodd Zolkos KISSIMMEE, Fla.-In approaching major information technology projects, companies must recognize that "there's no sustainable advantage in technology,'' according to one insurance company IT executive who oversaw...

CEOs find common concern in TRIA.(Feature: Gatherings)(Terrorism Risk Insurance Act of 2002 )(Conference news)
January 1, 2007... Byline: Meg Fletcher SEATTLE-A group of insurer chief executive officers readily agreed about the need for a federal terrorism insurance backstop and improved privacy controls, but other consensus was harder to come by at the Property...

Compact holds promise of standardized regulation.(Cover: Focus Industry Forecast)
January 1, 2007... Byline: Meg Fletcher Insurers' long-sought goal of modernizing the regulatory system overseeing rates and form filings is poised to become a reality for certain product lines in the majority of states later this year. Company...

Ohio Casualty chooses Guidewire claims support.(Tech Focus)(Ohio Casualty Insurance Co.)(Guidewire Software Inc.)(Guidewire ClaimCenter system)(Brief article)
January 1, 2007... FAIRFIELD, Ohio-The Ohio Casualty Insurance Co. has selected Guidewire Software Inc.'s ClaimCenter system to support the Fairfield, Ohio-based insurer's end-to-end claims process for personal and commercial lines of business. The system...

Worker who ignored warnings not entitled to benefits; Ohio Supreme Court sides with employer in pressure cooker blowup.(David Gross accused KFC Corp. for accident liability)
January 8, 2007... Byline: JUDY GREENWALD COLUMBUS, Ohio-A 16-year-old fast-food restaurant worker, who was seriously injured when he ignored directions about cleaning a pressure cooker and later was fired, is not entitled to workers compensation benefits,...

More concrete change expected as industry continues to face issues.(Perspective)(Column)
January 8, 2007... Byline: Howard Mills The past two years as superintendent of the New York State Insurance Department have afforded me both a valuable education and a rare perspective into the issues facing our industry and the path that lies ahead. ...

Comings & Goings.(Integro Ltd. appointed Lynn Ambrose)(Assurance Agency Ltd. appointed Mike Mann)(isability Management Employer Coalition appointed Marcia Carruthers )(Brief article)
January 8, 2007... Agents/brokers: Integro Ltd. has named Lynn Ambrose as a principal in the management risk practice in the Chicago office. She joins Integro from Marsh, where she served as a senior vp and national employment practices liability co-practice...

D&O rates softening amid stable capacity; Terms and conditions improvements focus on Side A coverage.(directors' and officers' liability insurance)
January 8, 2007... Byline: DAVE LENCKUS Many risk managers are negotiating cheaper and broader directors and officers liability coverage, despite unfavorable severity results for underwriters, and the prospect of further market softening is strong, market...

Hank gets ready to set down his life story.(Maurice R. Greenberg's memoir)(Brief article)
January 8, 2007... Maurice R. "Hank'' Greenberg has spent his share of time being interviewed by writers, but now the tables are turned. Mr. Greenberg, former chairman of American International Group Inc., is interviewing candidates to help him write his...

STEPS TO LIMIT LIABILITY.(insurance industry regulations for information disclosure)(Brief article)
January 8, 2007... Canadian companies can take steps to limit their liability under provincial laws that introduce new requirements for corporate disclosures: Assume the new legislation creates liability for any public disclosure. Establish and...

Marine renewals stable; Exposures, loss history key factors in setting rates for coverage.(marine insurance)
January 8, 2007... Byline: RUPAL PAREKH Ample capacity and heightened competition among marine market players resulted in mainly stable to softening hikes at year-end renewals, and 2007 may be even more of a buyer's market, marine brokers and underwriters...

D.C. agenda taking form.(terrorism insurance regulations )(Brief article)(Column)
January 8, 2007... The shape of the new Congress' risk management agenda has become clearer during the two months since the election. As we hoped, the new chairmen of the Senate Banking, Housing and Urban Affairs and the House Financial Services committees...

All cash balance plans deserve green light.(pension plans regulations)(Brief article)(Column)
January 8, 2007... With Congress passing comprehensive pension plan funding reform last year, as well as legislation enhancing the appeal of health savings accounts, there may be a temptation to say that federal legislators should take a break this year and put...

Varying market dynamics influence renewals; Toughest rates reserved for cat-prone areas.(terrorism insurance prices and regulations)
January 8, 2007... Byline: MARK A. HOFMANN The calendar might say it's a new year, but 2007 is the same old market as 2006 for commercial property insurance. That means that catastrophe-exposed accounts renewing during the year-end renewal period...

Experts say start early.(risk managers forecasting property and casualty insurance)(Brief article)
January 8, 2007... Byline: Mark A. Hofmann Regardless of the nature of an account's property exposures, risk managers should make sure that underwriters receive as much information as early as possible in the renewal process, observers say. "Data is...

Despite quiet 2006, cat-prone energy risks face tough market; Business interruption, windstorm coverage difficult to place.(Spotlight: Property/Casualty Market Report)
January 8, 2007... Byline: RUPAL PAREKH When it comes to energy market risks, it's still all about location. Despite a quiet 2006 storm season, renewals in catastrophe-exposed regions continue to be subject to large rate increases and restricted...

III's Hartwig ready to take on challenges of industry spokesman; Institute president renowned for talent to distill complexity.(Insurance Information Institute's Robert Hartwig beliefs )
January 8, 2007... Byline: LOUISE ESOLA With record insurance industry profits in 2006, but no major dip in premiums expected any time soon, the tough questions are inevitable: Chief executive officers at major corporations will want to know why their...

MEMBERSHIP RATES.(St. John's University's School of Risk Management's Kathryn & Shelby Cullom Davis Library's membership )(Brief article)
January 8, 2007... Current membership rates for The Kathryn & Shelby Cullom Davis Library at St. John's University's School of Risk Management in New York * Faculty and students of St. John's University, as well as any other accredited university: Free ...

Workers compensation rates generally flat to slightly lower; Strong insurer profits, less-frequent claims contribute to trend.(Spotlight: Property/Casualty Market Report)
January 8, 2007... Byline: ROBERTO CENICEROS Renewal rates for primary workers compensation coverage range from nearly flat to a 10% decrease with most buyers seeing reductions in the 5% range, observers say. The U.S. market's underlying fundamentals,...

Novelist goes to court to fight over rewrite rights for movie.(Clive Cussler accused Crusader Entertainment for breaching the contract)(Brief article)
January 8, 2007... "Sahara'' may have been a bust at the box office, but the author of the 1992 Dirk Pitt adventure novel on which the 2005 movie was based is plotting to be a winner in the courtroom. A lawsuit filed by novelist Clive Cussler against Crusader...

Most buyers find favorable general liability insurance market; Softening market sees lower rates, strong competition.(Spotlight: Property/Casualty Market Report)
January 8, 2007... Byline: SALLY ROBERTS There were no lumps of coal in most general liability insurance buyers' Christmas stockings this renewal season. Instead, some buyers saw their primary general liability rates fall as much as 30% and their excess...

On the Web.(Business Insurance introduced online services)(reducing the cost of prescription drug plans)(Business Insurance's wireless services)
January 8, 2007... BI PREMIUM CONTENT Premium content online free for BI subscribers Subscribers to Business Insurance can access all the premium online content of BusinessInsurance.com for no charge. To gain online access to rankings, the current issue...

Class actions fall in '06, but settlements rise; Federal oversight, strong stock market curb court filings.(News)
January 8, 2007... Byline: ROBERTO CENICEROS Despite the emergence of options backdating scandals last year, the number of securities fraud class action filings dropped dramatically during 2006, according to two reports released last week. But the...

Historic library adjacent to Ground Zero revamped; Insurance industry treasures range from books to fire marks.(News)
January 8, 2007... Byline: RUPAL PAREKH NEW YORK-An original life insurance policy for a 30-year-old American slave, the sole copy of a 19th century insurance catalog and a record of funded annuities from 1775 that lists Marie Antoinette are among the...

New Bermuda insurer adds to cat capacity; Clements' venture attracts $1 billion in initial capital.(Robert Clements of Ironshore Ltd. )
January 8, 2007... Byline: JUDY GREENWALD HAMILTON, Bermuda-New Bermuda-based property insurer Ironshore Ltd. and its $1 billion in capital will find a warm welcome in today's capacity-constricted catastrophe market, say observers. "It's just good news,...

Reinsurance renewals 'very orderly' compared to past renewal periods; Property cat faces rate increases, other areas remain stable.(Spotlight: Property/Casualty Market Report)
January 8, 2007... Byline: JUDY GREENWALD This year's January reinsurance renewal period has been relatively smooth in contrast to just a year ago, observers say. "Boring is the word that actually comes to mind,'' said John Ehinger, president and chief...

Bad bosses bother workers.(End Page)(Brief article)
January 8, 2007... Often a theme of lunchtime conversation and e-mails among colleagues, a new Florida State University study finds that 39% of managers reportedly fail to keep promises they make to subordinates-among a laundry list of gripes made by workers. ...

Who needs insurance when there's Las Vegas?(insurance industry in Indiana being investigated)(Brief article)
January 8, 2007... Insurance is always a bit of a gamble-even when you're in the process of transferring your risk to someone else. That's what the clients of a South Bend, Ind., insurance agency learned late last year. According to investigators from the...

Rate softening accelerates across E&O liability market; Most risks experience decreasing renewal rates, new capacity.(errors and omissions liability insurance)
January 8, 2007... Byline: DAVE LENCKUS As many professional risks renew their errors and omissions liability coverage at expiring to 10% lower rates, and evidence suggests an accelerated softening is underway, a growing number of underwriters also are...

MetLife, Spitzer settle compensation charges; Insurer agrees to pay $19 million, admits no wrongdoing.(Metropolitan Life Insurance Co., Eliot Spitzer)
January 8, 2007... Byline: DOUGLAS MCLEOD NEW YORK-Metropolitan Life Insurance Co. has become the latest life insurer to settle charges of deceptive broker compensation practices, reaching a $19 million agreement with New York. Without admitting or...

Keeping pace with ever-changing times.(Commentary)
January 8, 2007... Byline: Paul The changing nature of how people access information is big news these days. Google, itself a phenomenon of this new information age, recently paid $1.65 billion to acquire YouTube.com, a popular video-sharing site. Time...