Business Insurance articles from June 2004

Business Insurance archives from June 2004

London eyes changes to improve processing of claims.(Spotlight: London Market Report)
June 7, 2004... Byline: SARAH VEYSEY The past year has seen a raft of measures aimed at improving the claims-paying process in the London market, and additional claims-related changes are expected to be unveiled this month. In recent years, the London...

Storm warning activity increases; Gray, others offer early look at hurricane risk.(News)(William Gray)
June 7, 2004... Byline: MARK A. HOFMANN The importance of long-range hurricane forecasts can be considerably more psychological than practical. Forecasts such as those offered by William Gray, who heads a team of forecasters at Colorado State...

Consolidation reducing London market choices; But recent entrants from Bermuda, Lloyd's helping to meet multinationals' needs.(Spotlight: London Market Report)
June 7, 2004... Byline: CAROLYN ALDRED London's commercial insurance landscape has changed dramatically in recent years, but the London company market still fulfills a vital role for risk managers worldwide, brokers and insurers say. The London...

Lloyd's franchise system wins over some skeptics; Market execs say concerns largely allayed but that true test lies ahead.(Spotlight: London Market Report)
June 7, 2004... Byline: PETA MILLER Senior figures in the Lloyd's of London market generally approve of the new franchise system, though many were skeptical about the system's ability to promote underwriting discipline without stifling innovation. ...

Participants at Lloyd's mull plan to change capital rules.(Spotlight: London Market Report)
June 7, 2004... Byline: SARAH VEYSEY Managing agents and other players in the Lloyd's of London market are currently reviewing a consultation paper that proposes new assessments of the level of capital that syndicates should hold. In the paper, the...

Feds eying actuarial consultants for 'anticompetitive agreements'.(News)
June 7, 2004... Byline: VINEETA ANAND WASHINGTON - The U.S. Department of Justice has launched a broad investigation of actuarial consulting firms. A March 25 letter to the firms said the Justice Department's antitrust division is investigating...

Comings & Goings.(News)
June 7, 2004... Insurers: Napa, Calif.-based The Doctors Co., a physician-owned medical malpractice insurer, has named Robert D. Francis as chief operating officer. Previously, Mr. Francis was president of Red Mountain Casualty Insurance Co. Also at...

Delay on vote may improve class action bill's outlook.(News)
June 7, 2004... Byline: MARK A. HOFMANN WASHINGTON-Supporters of class action reform are hopeful that the Senate's delay in considering a major reform bill will actually help their case. Senate Majority Leader Bill Frist, R-Tenn., had initially...

Global warming chiller draws heat.(comments on the movie The Day After Tomorrow)(Editorial)
June 7, 2004... Byline: Douglas McLeod Some people will complain about anything. There's a lot of quibbling, for instance, over the scientific accuracy of the film "The Day After Tomorrow,'' in which global warming locks the Northern Hemisphere in a...

Insurer CEOs resolve to keep a tight rein after hard market ends.(News)
June 7, 2004... Byline: SALLY ROBERTS Although insurance company executives expect their companies' financial results to be better this year than last, most foresee the hard market enduring only through the end of 2004, according to an American Re Corp....

Delay aids class action bill.(Opinions)
June 7, 2004... WE'RE NORMALLY NOT big fans of delaying the consideration of important legislation. That's particularly true as Washington enters the long hot summer before national elections. Even the most reasonable bills can die of congressional inertia...

Cut California comp rates.(Opinions)(workers compensation insurance rates)(Brief Article)
June 7, 2004... After years of political wrangling and lobbying by business groups, the focus of efforts to cut California's almost out-of-control workers compensation insurance rates is finally resting on insurers. And they would do well to provide an...

Pay for performance of doctors still limited.(News)
June 7, 2004... Byline: JOANNE WOJCIK Health care pay-for-performance initiatives spearheaded by employers and insurers in various parts of the country are beginning to pay off. The programs, some of which were launched in response to a 2001 report...

United Educators CEO honored for commitment; APIW Insurance Woman of the Year.(News)(United Educators Insurance )(Association of Professional Insurance Women)
June 7, 2004... Byline: GLORIA GONZALEZ When Janice M. Abraham reflects on her career, the president and chief executive officer of United Educators Insurance appreciates just how far women have come in the business world in the past 20 years. ...

Saudi Arabian reforms may limit foreign role in insurance programs.(News)
June 7, 2004... Byline: PETA MILLER RIYADH, Saudi Arabia-International insurers and brokers this week will seek clarification from authorities in Saudi Arabia about recently introduced insurance regulations that they fear could limit the capacity...

Units of AIG, Aon dispute purchasing group cover.(News)(American International Group Inc.)(Aon Corp.)
June 7, 2004... Byline: DOUGLAS McLEOD BOSTON-Two American International Group Inc. units are seeking a court ruling that they are not liable to an Aon Corp. underwriting subsidiary for more than $35 million in losses under a commercial property owners...

Executive pay in the limelight.(News)
June 7, 2004... Byline: Paul Winston After several years in which corporate scandals and public downfalls became almost commonplace, and legislators and regulators worked to encourage more responsible corporate governance, some thought the worst was...

PBGC to close Enron plans to save assets from creditors.(News)(Pension Benefit Guaranty Corp.)(Brief Article)
June 7, 2004... Byline: JOANNE WOJCIK WASHINGTON-The Pension Benefit Guaranty Corp. is taking steps to preserve the benefits of participants in the underfunded pension plans of bankrupt Enron Corp. By filing a notice of determination to terminate four...

Australia to boost its regulation of foreign insurers.(International)
June 7, 2004... Byline: ELIZABETH FRY CANBERRA, Australia-Foreign insurers offering coverage in Australia will face tighter regulatory controls following the release late last month of the recommendations of an official review of offshore insurers. ...

Ireland introduces system to reduce litigation over workplace injuries.(International)(Personal Injuries Assessment Board)
June 7, 2004... Byline: SARAH VEYSEY DUBLIN, Ireland-A new system for resolving employee injury claims in Ireland is expected to reduce litigation and, ultimately, to lower companies' insurance costs. The Personal Injuries Assessment Board, which the...

Comp reform savings fail to impress all; California self-insurers likely to see benefits before insured employers.(News)
June 7, 2004... Byline: ROBERTO CENICEROS SACREMENTO, Calif.-Insured employers in California should expect average rate cuts of around 10% when workers compensation coverage renews as a result of reforms signed into law earlier this year, insurers and...

World Updates; Former Equitable CEO banned until 2010.(International)
June 7, 2004... The Financial Services Authority has banned Christopher Headdon, former chief executive of Equitable Life Assurance Society, from holding any management position at an FSA-regulated company until 2010. The U.K. regulator said the ban stemmed...

Report: Proposed U.K. wind farms a danger to ships.(International)(Brief Article)
June 7, 2004... Byline: PETA MILLER The U.K. government's planned locations of offshore wind farms would increase the risk of shipping accidents, a parliamentary report warns. The United Kingdom has committed to meeting 10% of its electricity needs...

Late News; Mississippi approves tort reform measure.
June 7, 2004... Mississippi Gov. Haley Barbour has said he will sign a comprehensive tort reform measure that won final legislative approval last week. Gov. Barbour, a Republican, had called the Legislature into special session last month to complete work on...

Urgent needs of health system may unite buyers, providers; Employee Benefits Leadership Forum.(News)
June 14, 2004... Byline: JERRY GEISEL WHITE SULPHUR SPRINGS, W.Va.-The growing instability of the health care system could ultimately lead buyers and providers to agree on a set of reforms to avert a system collapse, one health care reformer maintains. ...

Municipalities strive to quell violence on recreational playing fields.(Spotlight: Government Risk Management)
June 14, 2004... Byline: MICHAEL BRADFORD Municipalities are finding that there's an unpleasant side of recreation risks that needs just as much risk management attention as the fun and games. Increasingly, violence among fans, players and coaches has...

Lead contamination in water prompts call for overhaul; Delayed disclosure enrages lawmakers and consumers.(Spotlight: Government Risk Management)
June 14, 2004... Byline: MEG FLETCHER A furor over excessive levels of lead found in District of Columbia tap water has heightened public scrutiny about water quality nationwide. In addition, congressional testimony has emphasized the need for the...

Schools' comp costs spur risk management revamp; Los Angeles district using aggressive reforms to reduce litigation, boost return to work.(Spotlight: Government Risk Management)
June 14, 2004... Byline: ROBERTO CENICEROS The $176 million in workers compensation claims that the Los Angeles Unified School District is expected to pay this year could fund 4,250 new teacher salaries. Or, the millions spent annually on workers comp...

Governments' immunity to drug injury lawsuits questioned.(Spotlight: Government Risk Management)
June 14, 2004... Byline: GLORIA GONZALEZ Purchasing prescription drugs from Canada has become a popular cost-cutting measure for some local governments, but the practice has prompted questions about whether those governments could be liable for any...

Products & Services; ASSE publishes safety guide.(News)(American Society of Safety Engineers )
June 14, 2004... DES PLAINES, Ill.-The American Society of Safety Engineers has published a new book designed to help companies strengthen their workplace safety efforts. The book, "How Smart Managers Create World-Class Safety, Health, and Environmental...

Benefits forum sees growing attendance.(News)(Brief Article)
June 14, 2004... WHITE SULPHUR SPRINGS, W.Va.-Over three years ago, the Council of Insurance Agents & Brokers created an employee benefits unit and decided to hold an annual meeting on benefits issues at the Greenbrier resort in White Sulphur Springs, W.Va. ...

Employers advised to analyze plan designs in light of trends; CEBE Employee Benefits Leadership Forum.(News)(Council of Insurance Agents & Brokers)
June 14, 2004... Byline: JERRY GEISEL WHITE SULPHUR SPRINGS, W.Va.-Employers need to prepare for broad trends that could dramatically affect their employee benefit programs, a benefit expert says. While many parts of the crystal ball are clear, too...

Health care system changes in the offing: Gingrich; Employee Benefits Leadership Forum.(News)
June 14, 2004... Byline: JERRY GEISEL WHITE SULPHUR SPRINGS, W.Va.-Health care cost increases are likely to slow over time, predicts a former congressional leader. "Health care will be less expensive,'' said Newt Gingrich, a former speaker of the House...

PRIMA president to focus on serving membership; University risk manager to lead organization.(Spotlight: Government Risk Management)(Public Risk Management Association)
June 14, 2004... Byline: DAVE LENCKUS From ensuring that the national board is responsive, to helping local chapters provide professional development opportunities and recruit new leaders, the incoming president of the Public Risk Management Assn. is...

Property loss control directory deadline nears.(News)
June 14, 2004... Business Insurance will publish its online Directory of Property Loss Control Consultants in conjunction with the Aug. 9 issue. The issue will contain a Spotlight report on catastrophe management as well as a ranking of the top 10...

Between the Lines; Indicted drug dealer bought life insurance.(News)(meshed briefs)
June 14, 2004... Byline: Compiled by Joanne Wojcik An accused Maryland drug dealer probably thought she had an insurable interest when she allegedly purchased life insurance policies on the lives of some of her customers, paying for them with the money she...

Liberty Mutual unit seeking shutdown of state comp fund.(News)
June 14, 2004... Byline: ROBERTO CENICEROS PORTLAND, Ore.-A unit of Liberty Mutual Group Inc. is drawing criticism from several Oregon employers over efforts to abolish the state-owned workers compensation insurer. Liberty Northwest Insurance Corp. is...

Mississippi's tort reform success.(Opinions)
June 14, 2004... FOR ALL TOO MANY years, Mississippi enjoyed-if that's the right word-the dubious distinction of being a prime example of what can go wrong with a state's civil justice system. Rampant forum-shopping, generous jury awards and a not-always...

Mississippi tort reforms hailed; A cold day in state's 'judicial hellholes'?(News)
June 14, 2004... Byline: MARK A. HOFMANN JACKSON, Miss.-A state once cited by tort reform advocates as an example of a civil justice system run amok is now being hailed as an example of a successful tort reform campaign that other states should emulate....

Errors & omissions.(Corrections)(Correction Notice)
June 14, 2004... * A May 31 article on the California Public Employees Retirement System misspelled the surname of David Joyner, senior vp-network management at Blue Shield of California in San Francisco.

Lawsuits mount over marketing of epilepsy drug.(News)
June 14, 2004... Byline: DOUGLAS McLEOD NEWARK, N.J.-Pfizer Inc. is facing a barrage of lawsuits following the guilty plea of one of its subsidiaries to federal charges of illegally marketing the epilepsy drug Neurontin. Two health insurers, a pair of...

Equitas' latest reserve boost seen as spur for settlements.(News)
June 14, 2004... Byline: SARAH VEYSEY LONDON-Equitas Ltd.'s announcement that it has again boosted its asbestos reserves-and seen its surplus fall-is expected to prompt more policyholders to pursue settlement deals with the runoff reinsurer. In...

Industry warms to climate effects; Climate change already affecting insurance business, report says.(International)
June 14, 2004... Byline: CAROLYN ALDRED While the world may not face disaster the day after tomorrow, the impact of climate change projections is already being felt by businesses and the insurance industry. "Climate change is not a remote issue for...

Pension deficits in Canada spur benefit cuts.(News)
June 14, 2004... Byline: GLORIA GONZALEZ Substantial pension funding deficits are forcing many Canadian companies to take drastic measures to limit their overall benefit costs, including changing the structure of their pension plans and eliminating or...

Aussie code aims to speed up service; Draft applies to commercial insurers.(International)
June 14, 2004... Byline: ELIZABETH FRY SYDNEY, Australia-Commercial insurers in Australia would be compelled to provide timely and efficient service to policyholders if the industry adopts a draft General Insurance Code of Practice published earlier this...

World Updates; Merrill Lynch faces $13 million bias claim.(International)(Merrill Lynch & Co. Inc.)
June 14, 2004... A former U.K. employee of investment bank Merrill Lynch & Co. Inc. is seeking compensation of around [pounds sterling]7 million ($12.9 million) in a claim alleging unfair dismissal and sexual discrimination. If the claim is successful, the...

Cable firm sues captive over claim.(International)(Brief Article)
June 14, 2004... Byline: PETA MILLER and SARAH VEYSEY LONDON-Australia Japan Cable Ltd. is suing a defunct Isle of Man-domiciled captive insurer, seeking payment of a $92.5 million claim for loss of revenues related to the delay of a construction project....

Supreme Court clarifies rules for early retirement benefits.(News)
June 14, 2004... Byline: MARK A. HOFMANN WASHINGTON-A pension plan cannot expand the categories of post-retirement employment that trigger suspension of early retirement benefits and then deny benefits already accrued, a unanimous Supreme Court ruled...

Military cover extension would benefit employers.(News)
June 14, 2004... Byline: JERRY GEISEL WASHINGTON-As more members of the National Guard and Reserve are called up for active military service, Congress is considering new proposals to ease health insurance burdens on those individuals and their employers....

Metrics improve safety through better statistics.(News)
June 14, 2004... Byline: MEG FLETCHER Increasing numbers of safety managers are striving to develop statistically-based systems to help prevent injuries and illnesses, rather than taking a reactive approach to safety analysis. In their work to assess...

Spitzer widens investigation of broker commission deals.(News)(Eliot Spitzer)(Brief Article)
June 14, 2004... Byline: Sally Roberts NEW YORK-New York Attorney General Eliot Spitzer's investigation into compensation arrangements between brokers and insurers continues to widen as at least four more insurers announced that they have been subpoenaed...

Keeping competition fair.(Opinions)(Brief Article)
June 14, 2004... COMPETITION AMONG insurers generally is a good thing for insurance buyers, and efforts to reduce market competition would potentially hurt consumers. That's why a proposed ballot initiative in Oregon creates a dilemma for employers in the...

Late News.(meshed briefs)
June 14, 2004... Lawmakers urge extension of TRIA A bipartisan group of more than 100 members of the U.S. House of Representatives is urging the Treasury Department to support extension of the Terrorism Risk Insurance Act. In a letter to Treasury Secretary...

A new candidate for tort reform.(News)
June 21, 2004... Byline: Paul Winston Joe Plumeri for president? That unusual proposal was made during a panel discussion among commercial insurance industry chief executive officers at the recent World Insurance Forum in Bermuda. The stimulus for the...

Fed's input sorely needed.(Opinions)
June 21, 2004... IT IS ENCOURAGING to see the National Assn. of Insurance Commissioners produce generally positive responses to congressional proposals for regulatory reform, but it is disheartening that state regulators remain unwilling to entertain even...

Australian regulators review reinsurance of Zurich subsidiary.(International)(Brief Article)
June 21, 2004... Byline: Elizabeth Fry SYDNEY, Australia-Australian regulators are investigating a series of reinsurance transactions for subsidiaries of Zurich Financial Services Group Inc. to determine whether they did not involve true risk transfer. ...

Pension funding shortfalls still high, but easing: PBGC.(News)(Brief Article)
June 21, 2004... Byline: JERRY GEISEL WASHINGTON-Employers with large underfunded pension plans had an aggregate funding shortfall of nearly $280 billion last year, a slight improvement over 2002 but up dramatically from just a few years ago, the U.S....

Alaska reform aims to cool rising workers comp costs.(News)
June 21, 2004... Byline: ROBERTO CENICEROS ANCHORAGE, Alaska-Alaskan employers struggling with rising insurance costs say that enacting workers compensation reform legislation introduced by Gov. Frank Murkowski would increase predictability and reduce...

Sept. 11 compensation fund closes; fewer than 100 lawsuits to proceed.(News)
June 21, 2004... Byline: DOUGLAS McLEOD WASHINGTON-Fewer than 100 wrongful death lawsuits will go forward against the World Trade Center's owner, airlines and other defendants after the vast majority of those with claims stemming from the Sept. 11, 2001,...

Garamendi critical of Holocaust claim process.(News)(Brief Article)
June 21, 2004... Byline: MEG FLETCHER SAN FRANCISCO-The controversy over the pace and adequacy of Nazi-era insurance claims payment procedures continues between critic John Garamendi, the California insurance commissioner, and the International Commission...

Estimated liability of HIH claims fund jumps 27%: Report.(International)
June 21, 2004... Byline: ELIZABETH FRY SYDNEY, Australia-The estimated claims costs of the Australian government-backed compensation fund for policyholders of defunct insurer HIH Insurance Ltd. have surged 26.9% to $812 million Australian ($561.7 million)...

Crisis planning must include routine, extreme.(Perspectives)
June 21, 2004... Byline: Harry Nolan Businesspeople are optimists and dream about the art of the possible. Crisis planners must think about everything that could go wrong. That takes both imagination and discipline. Terrorist attacks in the United...

Legal Briefs: Accident at employer's home not compensable.(Perspectives)
June 21, 2004... An accident that occurred while an employee was performing odd jobs for his employer at the employer's home did not arise out of and in the course of his employment for workers compensation purposes, according to an Oklahoma appellate court....

Contingent fee deals debated by brokers, risk managers; World Insurance Forum.(News)
June 21, 2004... Byline: MICHAEL BRADFORD SOUTHAMPTON, Bermuda-A broker's simultaneous roles as an advocate for the insurance buyer and an intermediary paid by the insurer do not create a conflict and should not be changed, according to an executive with a...

E.U. emission rules likely to change policy wordings.(International)
June 21, 2004... Byline: CAROLYN ALDRED The introduction of carbon dioxide emission quotas across Europe next year likely will result in new environmental liability exposures for businesses and insurance policy wording changes, insurers and brokers agree....

Many parties to blame for market cycles, panel finds; World Insurance Forum.(News)
June 21, 2004... Byline: MICHAEL BRADFORD SOUTHAMPTON, Bermuda-Responsibility for breaking insurance cycles lies squarely at the top, according to an executive with a large insurer. All the parties involved in the insurance transaction-buyers,...

Tools aid reinsurance buyers; World Insurance Forum.(News)
June 21, 2004... Byline: RODD ZOLKOS SOUTHAMPTON, Bermuda-The question of whether reinsurance works varies with the buyer, but new tools and increased sophistication make it easier to evaluate reinsurance programs' success, according to a panel of experts....

Treasury Department pulls proposed cash balance rules.(News)
June 21, 2004... Byline: JERRY GEISEL WASHINGTON-The Treasury Department's announcement last week that it is formally withdrawing proposed cash balance pension plan regulations officially confirms the obvious: Treasury long ago had given up on the rules....

Experts see reduced severity in future market cycle turns; World Insurance Forum.(News)
June 21, 2004... Byline: RODD ZOLKOS SOUTHAMPTON, Bermuda-Several events from the past few years will likely have significant impact in shaping the future of the global risk market, according to a panel of insurance and reinsurance experts. "Looking...

Comings & Goings.(News)
June 21, 2004... Managed care: Lawrence J. Kissner has been named president and chief executive officer of United HealthCare of Kentucky Ltd. in Louisville. Previously, Mr. Kissner was national vp of distribution operations. Mark SantaCroce has been...

Saudi risks shopping for terrorism insurance.(News)
June 21, 2004... Byline: PETA MILLER RIYADH, Saudi Arabia-Many companies in Saudi Arabia are seeking terrorism insurance coverage following the recent escalation in violence against Western business interests. Companies involved in bank-financed...

Bermuda hosts forum after delay from 2003 hurricane.(News)(World Insurance Forum gathering)(Brief Article)
June 21, 2004... SOUTHAMPTON, Bermuda-The World Insurance Forum gathered a few months later than planned but with a full slate of activities for the three days of meetings earlier this month. The forum, held June 7-9, was postponed from February because the...

Writing cash balance rules is Congress' job.(Opinions)
June 21, 2004... SHOULD EMPLOYERS TURN to Congress to establish, once and for all, that cash balance pension plans do not discriminate against older workers? In the wake of a favorable and common-sense ruling by a federal judge this month that the plans do...

Cash balance plans not age biased: Court; Decision runs counter to IBM case.(International Business Machines Corp.)
June 21, 2004... Byline: JERRY GEISEL BALTIMORE-The design of cash balance pension plans does not discriminate against older employees, a federal judge ruled this month, in a decision that runs counter to a controversial 2003 decision. Judge Catherine...

Offshore risks need accounting; Outsourcing raises banks' exposures.(News)
June 21, 2004... Byline: RUPAL PAREKH U.S. banks and financial institutions have heightened their liability and political risks by outsourcing functions overseas, according to a report by the Federal Deposit Insurance Corp. Already, 80% of the world's...

Buyers, beware polluted ideas.(bankruptcies in insurance industry, risk management, related regulations)
June 21, 2004... Byline: Dave Lenckus What do risk managers at organizations that have large-deductible insurance policies and those that are potentially responsible parties under the Superfund law have in common? Both are at the center of...

Court upholds employer defense; Supreme Court rejects strict liability for sexual harassment claim.(News)
June 21, 2004... Byline: MARK A. HOFMANN WASHINGTON-Employers are applauding last week's Supreme Court ruling that allows an employee who voluntarily quit over alleged sexual harassment by supervisors to pursue an action against her former employer. ...

World Updates; European reinsurer upgrades unlikely: Best.(International)
June 21, 2004... While the financial strength of European reinsurers has benefited from hard market conditions in recent years, the market is unlikely to see a broad return to higher ratings, according to A.M. Best Europe in London. Between April 2002 and April...

NAIC says states making progress in modernization effort; Federal regulatory role opposed.(News)(National Association of Insurance Commissioners)
June 21, 2004... Byline: MEG FLETCHER State insurance regulators welcome increased cooperation with federal authorities over certain elements of insurance regulation, but they oppose any increase in direct federal involvement in insurance regulation. ...

U.S. businesses increasing terrorism coverage purchases.(News)(Brief Article)
June 21, 2004... Byline: MARK A. HOFMANN U.S. businesses' appetite for terrorism risk insurance is still on the upswing, according to a study released last week by Marsh Inc. New York-based Marsh found about 44% of the more than 600 public and private...

Exult acquisition to expand Hewitt's outsourcing services.(News)
June 21, 2004... Byline: SALLY ROBERTS LINCOLNSHIRE, Ill.-In a move that will further expand its human resources outsourcing capabilities, Hewitt Associates Inc., one of the world's largest benefit outsourcing and consulting firms, is buying Irvine,...

Late News; Treasury extends TRIA `make available' rule.(Terrorism Risk Insurance Act)
June 21, 2004... The Treasury Department will extend the "make available'' provision of the Terrorism Risk Insurance Act through the end of 2005. That provision requires commercial property/casualty insurers that participate in the federal terrorism insurance...

Seeking the young, extraordinary; BI solicits nominations for 40 under 40 roundup.(News)
June 21, 2004... CHICAGO-Business Insurance is seeking nominations for its "40 Under 40: People to Watch" feature, a roundup of men and women who are doing extraordinary work in the commercial insurance industry before celebrating a 40th birthday. Anyone...

WTC case shows importance of documenting negotiations.(Perspective)
June 21, 2004... Byline: Akos Swierkiewicz Had the terrorist attacks of Sept. 11, 2001, not occurred, we would never have learned about the negligence, mistakes, errors and omissions, inconsistencies and confusion that plagued the placement and negotiation...