Business Insurance articles from March 2009

Business Insurance archives from March 2009

Insurer finds sailor's yarn full of holes.(End Page)(Brief article)
March 2, 2009... A Seattle man who reportedly deep-sixed his yacht has been accused of making a fraudulent insurance claim, according to the Seattle Post-Intelligencer. Brian A. Lewis was headed from Bainbridge Island, Wash., to Seattle in March 2008 when...

KEVIN TOTH.(Comings & Goings)(vice president at Harleysville Group Inc.)
March 2, 2009... NEW JOB TITLE: Harleysville, Pa.-based senior vp and chief underwriting officer for Harleysville Insurance Group Inc. PREVIOUS POSITION: Senior vp and chief claims officer for Harleysville. GOALS FOR NEW POSITION: One of the advantages...

Ailing economy may spur D&O class action suits: Advisen; Report cites various factors for array of securities litigation.(News)
March 2, 2009... Byline: MARK A. HOFMANN The legal landscape for directors and officers and their liability insurers could worsen this year, according to a report by New York-based Advisen Ltd. The report-"Securities Litigation in 2008: Implications...

Insurer wrestles with risky movie.(End Page)(Brief article)
March 2, 2009... "The Wrestler'' star Mickey Rourke may have lost his toehold for a best leading actor Oscar to "Milk'' star Sean Penn, but his performance did take one honor: riskiest film of those nominated for the 2009 Academy Awards. Mr. Rourke starred...

Bernanke warms to optional federal charter; Favorable comments by Fed chairman may help passage.(News)(Ben Bernanke)
March 2, 2009... Byline: MARK A. HOFMANN WASHINGTON-Federal Reserve Chairman Ben Bernanke's comment that establishing optional federal charters for insurers is a "useful idea'' could prove to be a useful argument for OFC proponents. OFC supporters say...

Landing on river, no problem but benefit cuts scare pilots.(End Page)(Chesley Sullenberger)(Brief article)
March 2, 2009... Some U.S. airline pilots are not getting the soft landing they deserve in retirement, says one lofty member of their ranks. Last month, Capt. Chesley Sullenberger glided the crippled US Airways jet he was piloting to a forced landing on New...

Allianz leads crash cover.(News)(Brief article)
March 2, 2009... Byline: Zack Phillips AMSTERDAM, Netherlands-Allianz S.E. leads the hull and liability coverage for the Turkish Airlines Boeing 737-800 that crashed while attempting to land near Amsterdam, Netherlands, market sources said. Turkish...

Marsh, Berkshire add Gulf capacity.(News)(Marsh and McLennan Companies Inc.)(Berkshire Hathaway Inc.)
March 2, 2009... Byline: ZACK PHILLIPS NEW YORK-Marsh & McLennan Cos. Inc. and Berkshire Hathaway Inc. have created a windstorm property insurance program with $500 million of aggregate annual capacity for energy companies operating in the Gulf of Mexico....

Judge rules AIG can continue with suit against NCCI Holdings.(News)(American International Group Inc.)
March 2, 2009... Byline: ROBERTO CENICEROS CHICAGO-American International Group Inc. can proceed with its retaliatory lawsuit alleging fraud against NCCI Holdings Inc. pool members, a federal judge ruled. The litigation stems from a lawsuit filed by...

On the Web.(Briefs)
March 2, 2009... BI VIDEO P/C Insights video discusses financials Experts from Standard & Poor's Corp. and the Beazley Group talk about the challenging environment, rating changes in the insurance industry and the part that enterprise risk management...

Worker productivity falls when depression goes untreated; Early intervention helps curb costs, experts advise.(News)
March 2, 2009... Byline: JOANNE WOJCIK LOS ANGELES-Early and effective treatment of employee depression can lower employers' health care costs and boost workers' productivity, research is finding. With more than one in 10 U.S. residents likely to be...

Interest growing in Bay State's health reform success; Massachusetts sees number of uninsured residents drop since '06.(Benefits Management)
March 2, 2009... Byline: JERRY GEISEL BOSTON-Many were skeptical when Rick Lord, president and chief executive officer of Boston-based Associated Industries of Massachusetts, spoke to out-of-state business groups soon after Massachusetts enacted its...

READ: National health reform's implications for workers comp.(Opinions)(Brief article)
March 2, 2009... While legislation abounds in Congress to revamp the U.S. health care system, it is unlikely that any measure will specifically mention workers compensation, says Joseph Paduda, a principal of consultant Health Strategy Associates in Madison,...

Asset sale proves tough in constricted credit market.(News)(American International Group Inc. needs more federal help)
March 2, 2009... Byline: JUDY GREENWALD NEW YORK-Last week marked a period of increased turmoil for American International Group Inc., as reports of its need for additional federal help created even more questions about the company's future condition and...

Products & Services: Catastrophe models target Europe, Asia.(Benefits Management)(Assurex Global's online service)(Lockton Cos's risk management service)(Insurance Services Office Inc's Medicare reporting service )
March 2, 2009... ANDOVER, Mass.-Weather Services International Corp. has expanded its catastrophe models for Europe and launched a model for eastern Asia. WSI PreCat Forecast Europe will deliver forecasts on windstorm numbers and locations during the...

Sales of AIG units in past 3 months add up to $2 billion.(News)(American International Group Inc.)(Brief article)
March 2, 2009... Byline: Judy Greenwald American International Group Inc. has announced sales of nine units since late last year. Proceeds from the sales total $2 billion to $2.5 billion, depending on whether factors such as assumption of debt are...

Stimulus likely to raise demand for insurance; More construction projects will begin as result of ARRA.(News)(American Recovery and Reinvestment Act)
March 2, 2009... Byline: ROBERTO CENICEROS The economic stimulus package President Obama signed into law last month will spur some construction industry demand for insurance products, say brokers, insurers and consultants. The use of owner-controlled...

OFC gets a boost from Bernanke statement.(optional federal charters)(Ben Bernanke)(Viewpoint essay)(Brief article)
March 2, 2009... FEDERAL RESERVE CHAIRMEN often speak in oracular terms, as former Fed Chair Alan Greenspan demonstrated repeatedly. Fortunately, successor Ben Bernanke sounded a bit more straightforward last week when asked his opinion on optional federal...

ARRA likely to affect workers comp most.(News)(American Recovery and Reinvestment Act)
March 2, 2009... Byline: Roberto Ceniceros Money flowing to the property/casualty industry from the American Recovery and Reinvestment Act of 2009 will affect workers compensation insurance more than most other lines, an insurance economist predicts. ...

State regulation protects AIG's insurance subsidiaries.(News)(American International Group Inc.)(Brief article)
March 2, 2009... Byline: Sally Roberts Because American International Group Inc.'s insurance subsidiaries are regulated by states, they are not subject to the federal laws that would affect their noninsurance holding company parent should it file for...

Obama presses ahead with health reform agenda.(News)
March 2, 2009... Byline: JERRY GEISEL WASHINGTON-President Obama last week reaffirmed his commitment to comprehensive health care reform and revealed the first details about the cost of reform and how some of that cost would be met. In a presentation...

Obama emphasizes need for health reform; President's budget sets aside $630B to fund expansion of coverage.(Benefits Management)
March 2, 2009... Byline: JERRY GEISEL WASHINGTON-If there were any notions that the nation's massive economic problems would derail the Obama administration's commitment to reform the nation's health care system, President Obama last week tried to dismiss...

Economy forces states to shift focus on health reform; Measures that don't require state funding more likely to get OK.(Benefits Management)
March 2, 2009... Byline: JOANNE WOJCIK Mounting budget deficits during 2008 forced state lawmakers to shift their focus away from trying to achieve universal health insurance coverage toward more incremental reforms of the health care delivery system. ...

IRS rules on 401(k) will help some employers; Nondiscrimination tests not required for auto enroll feature.(News)(Internal Revenue Service)
March 2, 2009... Byline: JOANNE WOJCIK WASHINGTON-Final rules issued last week by the Internal Revenue Service will aid employers that want to add an automatic enrollment feature to their 401(k) plans without running nondiscrimination tests. However,...

AIG FIGHTS FOR SURVIVAL AMID CRISIS; Clients weigh options as turmoil continues for insurance giant.(AIG in Crisis)(American International Group Inc.)
March 2, 2009... Byline: SALLY ROBERTS NEW YORK-While some American International Group Inc. policyholders are losing patience with the troubled insurer, many remain committed to AIG despite reports last week that it will report the largest quarterly loss...

Some smaller employers follow example of larger rivals with onsite medical care.(News)
March 2, 2009... Byline: JOANNE WOJCIK LOS ANGELES-Contrary to popular belief that worksite clinics are feasible only for large employers, small and midsize employers are finding that they, too, can turn to onsite clinics to help reduce health care costs....

Health & Productivity Forum draws 270.(News)(Integrated Benefits Institute and the National Business Coalition on Health)(Conference news)(Brief article)
March 2, 2009... Byline: Joanne Wojcik LOS ANGELES-A total of 270 members of the employee benefit community registered to attend the 2009 Health & Productivity Forum jointly sponsored by the Integrated Benefits Institute and the National Business Coalition...

Workers' ailing health problematic; 'Presenteeism' bigger problem in tough times, experts say.(News)
March 2, 2009... Byline: JOANNE WOJCIK LOS ANGELES-Employers need to enhance wellness and mental health services to ensure that employees who remain after workforce reductions are healthy and productive, experts say. As part of this effort, they also...

Phelps photo leads to bigger cloud of smoke.(Commentary)(medical marijuana transportation rules)
March 2, 2009... Byline: Roberto Ceniceros When a 23-year-old is caught smoking pot, the discussion usually stays in the home. But when he is the winner of eight Olympic gold medals, a national hero and a valuable branding commodity, the conversation goes...

Diner's claim not so nutty, court rules.(End Page)(Edith L. Freemon in cases with Logan's Roadhouse Inc.)(Brief article)
March 2, 2009... Do peanut shells on the floor of a theme restaurant threaten safety? The Tennessee Court of Appeals has answered with a resounding "perhaps'' in Edith L. Freemon vs. Logan's Roadhouse Inc. According to court papers, Ms. Freemon said...

Obama on right path to health care reform.(Opinions)(Brief article)
March 2, 2009... IT WOULD BE WRONG to dismiss President Obama's remarks last week on health care reform and the administration's budget plan discussing reform principles as long on rhetoric and short on detail. There is no denying that few new details came...

Best, S&P downgrade Hartford insurance units.(Briefs)
March 2, 2009... A.M. Best Co. Inc. and Standard & Poor's Corp. have both downgraded their financial strength ratings on Hartford Financial Services Group Inc.'s insurance operations. Best dropped the Hartford operations to A from A+, while S&P lowered its...

Senators questioning further bailout of AIG; Dodd seeks names of counterparties to AIG transactions.(News)(American International Group Inc.)
March 9, 2009... Byline: MARK A. HOFMANN WASHINGTON-Congressional resistance to further federal aid for American International Group Inc. may be growing. In fact, during a hearing on AIG before the Senate Banking, Housing and Urban Affairs Committee...

We need healthy debate on systemic risk rules.(Brief article)
March 9, 2009... CAPITOL HILL is abuzz with talk of regulating systemic risk. That's an understandable response to the events of the past few months, when several financial services giants like American International Group Inc. found themselves on the brink of...

On the Web.(Briefs)
March 9, 2009... captives 2009 Online maps highlight captive domiciles Accompanying Business Insurance's Captive Insurance Spotlight starting on page 9 of this issue, online interactive maps show details about captive domiciles based in North America,...

Greenberg sues AIG over $2B loss; Insurer says securities fraud lawsuit is without merit.(News)(Maurice R. Greenberg)(American International Group Inc.)
March 9, 2009... Byline: MARK A. HOFMANN NEW YORK-Former American International Group Inc. Chairman and Chief Executive Officer Maurice R. Greenberg has sued AIG and others, alleging that securities fraud cost him $2 billion as a result of AIG's...

Lucky Chubb workers hit $216 million lotto jackpot.(End Page)
March 9, 2009... With the financial market crumbling, layoffs mounting and employee morale in the dumps, playing the lottery is one way to hedge your bets. This is especially true if you win. According to news reports, 10 co-workers from Chubb Corp....

Up Close: DR. TERESA BARTLETT.(Comings & Goings)(Sedgwick Claims Management Services Inc.)(Interview)
March 9, 2009... NEW JOB TITLE: Senior vp and medical director in Troy, Mich., for Memphis, Tenn.-based Sedgwick Claims Management Services Inc. PREVIOUS POSITION: Senior manager for integrated health care and disability medical programs for Chrysler L.L.C....

AIG realigns P/C units in bid to keep clients; Company separates insurance operations from troubled parent.(News)(American International Group Inc.)(property and casualty insurance)
March 9, 2009... Byline: JUDY GREENWALD NEW YORK-American International Group Inc. will likely continue to lose business and employees as it pursues its plan to spin off its property/casualty units into a separate holding company, observers say. But...

READ: Keeping health care cost down during recession.(Viewpoint essay)(Brief article)
March 9, 2009... Byline: Michael J. Thompson and Benjamin Isgur In the past six recessions, medical prices have tended to rise while most other prices fall, say Michael J. Thompson, principal of global human resources at PricewaterhouseCoopers L.L.P in New...

Making the world a better place in '24' hours or less.(End Page)
March 9, 2009... While Agent Jack Bauer is trying to save the world from terrorists, the producers of the action-packed show "24'' are trying to save the planet. 20th Century Fox television network announced last week that "24'' is going green, becoming...

Third Gen Re trial exec receives light sentence.(News)(General Re Corp.)(Christopher P. Garand )
March 9, 2009... Byline: COLLEEN McCARTHY HARTFORD, Conn.-The one-year prison sentence imposed on former General Re Corp. executive Christopher P. Garand for his role in a sham reinsurance deal was the lightest sentence handed down so far in the case,...

Interest increasing in using captives to fund benefits.(Spotlight: Captive Insurance)
March 9, 2009... Byline: JERRY GEISEL As companies seek new ways to cut costs during the deepening recession, corporate interest in funding employee benefit risks through captive insurers will likely accelerate, experts say. Funding benefits through...

D'oh! Simpsons' lives dangerous without insurance.(End Page)
March 9, 2009... Homer Simpson is no stranger to hazards, thanks to his job as a safety inspector at the Springfield Nuclear Power Plant. But on a recent episode of "The Simpsons,'' Homer must turn full-fledged risk manager after forgetting to mail his...

N.Y. offers sale of Midland Insurance.(News)(Midland Insurance Co.)
March 9, 2009... Byline: ZACK PHILLIPS NEW YORK-The New York Liquidation Bureau last week released a draft request for proposals from private investors to buy the assets and considerable liabilities of Midland Insurance Co., which has been in liquidation...

Sale of ailing life unit could aid Hartford: Analysts.(News)(Hartford Financial Services Group Inc.)(Financial report)
March 9, 2009... Byline: JUDY GREENWALD HARTFORD, Conn.-As Hartford Financial Services Group Inc. struggles with large losses at its life insurance operations, rumored efforts to sell those operations make sense as a way to remove a major drag on the...

Guy Carpenter expands with Collins purchase; Acquisition will create world's second largest reinsurance brokerage.(News)(Guy Carpenter and Company Inc.)(John B. Collins Associates Inc.)(Aon Corp.)(Benfield Group Ltd.)
March 9, 2009... Byline: SALLY ROBERTS NEW YORK-Guy Carpenter & Co. L.L.C.'s acquisition of John B. Collins Associates Inc. gives the New York-based reinsurance broker more scale in the United States and allows it to play "catch-up'' to a much larger...

Buyers criticize guaranty fund plan.(News)(National Association of Insurance Commissioners)(Risk and Insurance Management Society Inc.)(Conference news)
March 9, 2009... Byline: MEG FLETCHER KANSAS CITY, Mo.-Revisions to a guaranty fund model act that the National Assn. of Insurance Commissioners is slated to adopt next week have raised concerns among insurance buyers. The New York-based Risk &...

IN BRIEF: O'Hara leaving board of XL.(Briefs)(XL Capital Ltd.)(Survey)
March 9, 2009... Brian M. O'Hara, chairman of the board of directors and former president and chief executive officer at XL Capital Ltd., said he will not stand for re-election in April. John T. Thornton, a member of XL's board since 1988, also decided he will...

Finding a 'good front' grows more challenging; Many insurers seeking increased collateral and some raise rates.(Spotlight: Captive Insurance)
March 9, 2009... Byline: MICHAEL BRADFORD and RODD ZOLKOS The perennial quest by captive insurers to find reliable fronting companies that charge reasonable prices has not become easier in the global financial downturn. "Fronting is one of the biggest...

Captive insurance industry not immune to bad economy; Credit concerns, cost, capital supply taking their toll on captives.(Spotlight: Captive Insurance)
March 9, 2009... Byline: RODD ZOLKOS and MICHAEL BRADFORD No different from virtually any other business sector, the captive insurance industry is feeling the effects of the economic downturn and the crisis in the financial services industry. The high...

Market Moves: Eight indie brokers join Willis Networks.(Briefs)(Willis Group Holdings Ltd.)(Kapnick Insurance)(Ufer & Co.)(United States Retirement Partners)
March 9, 2009... LONDON-Eight independent U.K.-based insurance brokers have joined Willis Networks, a broker association owned by London-based Willis Group Holdings Ltd. Willis Networks includes Willis N2, which is for local brokers placing about $4...

iPod listener 'burnin' down the house'.(End Page)(Brief article)
March 9, 2009... Perhaps iPods should be added to the list of potential fire hazards. Not that the iPod itself has a tendency to burst into flame, but rather that it can so distract its listeners that they don't realize that other things are happening,...

IPC, Max deal creates more diverse reinsurer.(News)(Max Capital Group Ltd.)(IPC Holdings Ltd.)
March 9, 2009... Byline: COLLEEN McCARTHY HAMILTON, Bermuda-The merger of IPC Holdings Ltd. with rival Max Capital Group Ltd. will result in a financially stronger, more diverse company that's positioned to compete with larger peers, observers say. ...

Drugmaker loses labeling case; Supreme Court rules FDA approval doesn't pre-empt state action.(News)(Wyeth vs. Diana Levine)(Case overview)
March 9, 2009... Byline: MARK A. HOFMANN WASHINGTON-The U.S. Supreme Court's ruling circumscribing the theory of implied pre-emption of state law by federal rules concerning prescription drugs could reach beyond the pharmaceutical industry, according to...

Latest move helps allay buyer fears.(News)(American International Group Inc.)
March 9, 2009... Byline: SALLY ROBERTS NEW YORK-American International Group Inc.'s decision last week to spin off its property/casualty operations into a separate holding company was welcomed by several risk managers, but some remained concerned about...

In time of budget cuts, some events worth trip.(Commentary)(Risk and Insurance Management Society Inc.)(Conference news)
March 9, 2009... Byline: Regis Coccia For every one of the 16 years I've been at Business Insurance, the editorial calendar has revolved around certain industry events. Chief among them is the Risk & Insurance Management Society Inc. annual conference and...

Health care picks show commitment to reform; Kathleen Sebelius' diverse experience seen as advantageous.(News)(Nancy-Ann DeParle)
March 9, 2009... Byline: JOANNE WOJCIK WASHINGTON-The choice of Kansas Gov. Kathleen Sebelius as Health and Human Services secretary-designate and Nancy-Ann DeParle as director of the White House Office for Health Reform, followed by last week's health...

AIG's P/C operations set to turn a corner.(American International Group Inc.)(Troubled Asset Relief Program)(Report)(Brief article)
March 9, 2009... RECENT NEWS has featured American International Group Inc. prominently, with positive and negative implications. AIG last Monday reported the largest quarterly loss in corporate history, more than $60 billion. But the company also announced...

Products & Services: Valiant offers D&O policy for public companies.(Briefs)(Valiant Insurance Group)
March 16, 2009... NEW YORK-Valiant Insurance Group Inc., a wholly owned subsidiary of Ariel Holdings Ltd., has introduced a primary directors and officers policy for public companies with $1 billion or less in revenues. The Safeguard management liability...

Securities class action settlements plunged in 2008; But financial crisis expected to trigger surge in litigation.(News)(Report)
March 16, 2009... Byline: JEFF CASALE BOSTON-The average securities class action settlement fell 50% to $31.2 million in 2008, according to a report released by Cornerstone Research last week, but authors of the report note this trend may not continue. ...

Employers urged to help develop health reform; Baucus sees play-or-pay as key component.(News)(National Business Group on Health)(Max Baucus)
March 16, 2009... Byline: JERRY GEISEL WASHINGTON-The chairman of the Senate Finance Committee wants the business community to help him draft a workable play-or-pay system as part of comprehensive legislation to move the United States close to universal...

Judge throws out suit against Marsh Inc.(News)(Tiara Condominium Association Inc)(Brief article)
March 16, 2009... Byline: SALLY ROBERTS WEST PALM BEACH, Fla.-A federal district court judge has dismissed a breach-of-contract lawsuit against Marsh Inc. brought by a Florida client that said the broker failed to obtain the correct windstorm coverage. ...

Private equity-backed purchases fall; S&P: Economies of scale driving buyouts of brokers.(News)(Report)(Brief article)
March 16, 2009... Byline: JEFF CASALE The private equity-funded acquisitions of brokerages of recent years are coming to a halt, which is opening the door to deals by global insurance brokers, according to a report by Standard & Poor's Corp. In its...

Participation needed in health care debate.(Viewpoint essay)(Brief article)
March 16, 2009... Should employers heed the call made last week by Senate Finance Committee Chairman Max Baucus, D-Mont., and help him craft an employer play-or-pay mandate as part of comprehensive health care reform legislation? This is a tough issue for...

Truth not an absolute defense in libel: Court; Nonmedia companies may face exposure to Massachusetts law, observers say.(News)
March 16, 2009... Byline: JUDY GREENWALD BOSTON-Dozens of media firms are questioning a federal appeals court ruling that concluded truth is not an absolute defense against libel in a case concerning an e-mail sent in the firing of an office products...

IN BRIEF: Swiss Re taps ex-CEO Kielholz as chairman.(News)(Swiss Reinsurance Company Ltd. appoints Walter B. Kielholz)
March 16, 2009... Swiss Reinsurance Co. Ltd. has made another top management change, naming Walter B. Kielholz to replace Peter Forstmoser as chairman of its board, effective May 1. Mr. Kielholz, who is vice chairman of Swiss Re, was its chief executive officer...

Could there be a silver lining in bad economy?(Commentary)
March 16, 2009... Byline: Rodd Zolkos Much of the discussion of the economic downturn has rightfully focused on just how widespread it's proven to be, affecting seemingly every industry and every region. Still, even the worst of conditions seem to offer...

Energy capacity fears drive early renewals Investment, cat losses lead to firmer market for risks in Gulf.(News)(Report)
March 16, 2009... Byline: ZACK PHILLIPS Some risk managers for energy companies operating in the Gulf of Mexico this year are coming to market earlier than usual amid tightening capacity, brokers and observers say. "The amount of activity...has...

Data breach threats growing within; Tools still evolving to thwart insider thefts of company info.(News)(Report)
March 16, 2009... Byline: JEFF CASALE Insurance and cyber security experts say a computer-savvy employee who thinks his or her job may be in jeopardy may be more inclined to tap the organization's database for information that may be useful in a new job...

Court won't review S.F. health care mandate; Controversial case may be headed to Supreme Court.(News)(Case overview)
March 16, 2009... Byline: JERRY GEISEL SAN FRANCISCO-The 9th U.S. Circuit Court of Appeals' decision last week not to review a 2008 appeals panel ruling upholding a San Francisco health care spending law brings one step closer a potential U.S. Supreme Court...

READ: Enhanced readiness pays dividends.(Opinions)(Brief article)
March 16, 2009... Risk managers and business continuity professionals may see themselves warning top management about a potential events that could jeopardize the business, but top managers see them as whistling into the wind about something that has only a...

Libel ruling a concern for more than media.(Brief article)(Case overview)
March 16, 2009... A Massachusetts appeals court ruling that the truth is not always a valid defense in libel actions should be a concern for many corporations, not just media companies. As we report on page 3, the ruling holds that, even if it is true, a...

Guaranty funds not guaranteed for self-insured comp claims; Not all states agree on use of backup funds for recovering from failed excess insurers.(Spotlight Report: Claims Management)
March 16, 2009... Byline: MEG FLETCHER What happens to self-insured companies if their excess property/casualty insurer is unable to pay workers compensation claims? The answer depends on the state, experts say. Many states have laws that allow a...

On the Web.(Briefs)
March 16, 2009... CAPTIVES 2009 Business Insurance is your captive resource Business Insurance provides in-depth information on 165 captive managers and 45 captive domiciles in its 2009 World's Captive Domiciles and Captive Managers directories....

Tough economic times tend to boost insurance claims; Insurers examining all claims more closely, mindful that some policyholders try to stretch the truth.(Spotlight Report: Claims Management)
March 16, 2009... Byline: MICHAEL BRADFORD Hard times are expected to breed more insurance claims as policyholders look for cash in every corner and, in some cases, stretch the truth when reporting losses, experts say. At the same time, insurers are...

Ways to track down an old insurance policy.(News)
March 16, 2009... Byline: NICK WHITFIELD If a business cannot locate its original insurance policy documents, there still are options to win a policy dispute. Courts place the burden of proving a policy's existence on the policyholder, meaning a...

Make sure D&O cover can withstand 'storm'.(News)(directors and officers)(Professional Liability Underwriting Society )(Conference news)
March 16, 2009... Byline: Zack Phillips NEW YORK-Risk managers need to ensure that their directors and officers liability insurance policies are adequate now, because a rash of bankruptcies and stepped-up enforcement by the Securities and Exchange...

1,200 attend PLUS' D&O Symposium.(News)(Professional Liability Underwriting Society)(directors and officers)(Conference news)(Brief article)
March 16, 2009... NEW YORK-About 1,200 people attended the Professional Liability Underwriting Society's D&O Symposium in New York on Feb. 25-26. The event included sessions on securities litigation, bankruptcies, the D&O claims process and coverage for...

Test your insurance IQ.(End Page)(Survey)(Brief article)
March 16, 2009... What you don't know can hurt you. Judging from the results of a recent survey commissioned by the National Assn. of Insurance Commissioners, most U.S. residents don't know all that much about insurance. In fact, 1,000 adults surveyed...

Up Close: BRUCE MacDOUGALL; Comings & Goings.(News)
March 16, 2009... NEW JOB TITLE: Senior vp for Boston-based William Gallagher Associates Insurance Brokers Inc. PREVIOUS POSITION: Executive vp at Wakefield, Mass.-based Mazonson L.L.C. GOALS FOR NEW POSITION: I'd like to make a concerted effort to...

Coffee taster's tongue insured.(End Page)(Costa Coffee)(Brief article)
March 16, 2009... A matter of taste has led U.K.-based Costa Coffee to the organization that brewed up coverage of unconventional risks at a London coffeehouse. The London-based company said it's taken out a [pounds sterling]10 million ($14.2 million)...

Missing Xbox leads to $1M lawsuit filing.(End Page)
March 16, 2009... What's a missing Xbox worth? Would you believe $1 million? According to cincinnati.com, Yale University junior Jesse Maiman had packed an Xbox in his checked baggage on a December flight from New Haven, Conn., to Cincinnati/Northern...

Calif. pollution ruling expands CGL coverage State high court rules insurers must pay when causes unclear.(News)
March 16, 2009... Byline: SALLY ROBERTS SAN FRANCISCO-California policyholders are more likely to recover insurance for pollution cleanups as a result of a California Supreme Court ruling last week that shifts the burden of allocation onto insurers in...