Business Insurance articles from May 2008

Business Insurance archives from May 2008

Taking comfort in separation.(First Word)(consequences of earthquake)(Viewpoint essay)
May 1, 2008... Byline: Rodd Zolkos I've known for years about the New Madrid fault, but before last month it was never something I really worried about. That changed a little while after I woke up April 18 to the news that there'd been a not...

Three questions.(Industry News)(opinions of Richard P. Siderko chief executive officer of Bankers Cooperative Group Inc.)
May 1, 2008... Founded by the New Jersey League of Community Bankers, the Cranford, N.J.-based Bankers Cooperative Group Inc. is an insurance management organization serving New Jersey financial institutions, financial services support companies and their...

Straight through; Streamlined processing promotes profitability.(Cover Focus: Information Technology)
May 1, 2008... Byline: Meg Fletcher The wide range of companies that have implemented their own versions of straight-through processing to better serve their individual customers may get new help from standards setting organizations. Straight-through...

On to the next level; While many have taken first steps toward ERM, IT obstacles may clutter the path forward.(Cover Focus: Information Technology)(Ernst & Young L.L.P.)
May 1, 2008... Byline: Rodd Zolkos For a variety of reasons, insurers and reinsurers seem eager to embrace enterprise risk management. While many have taken the first step on the path to ERM, the steps that follow likely will be more challenging,...

XL assembles team to develop new products.(Industry News)(XL Capital Ltd.)(Brief article)
May 1, 2008... HAMILTON, Bermuda-XL Insurance, the global insurance operation of Hamilton, Bermuda-based XL Capital Ltd., has formed a global product development team that the company says will better position it to address customers' risk management needs....

NAPSLO leader melds knowledge with humor.(Feature: Profile)(National Association of Professional Surplus Lines Offices Ltd.)
May 1, 2008... Byline: Meg Fletcher With law licenses in five states, three advanced degrees and one well-developed sense of humor, Dick Bouhan has been a major force in moving the excess and surplus lines industry from its "cowboy'' days to the...

NAPSLO's Dick Bouhan.(Feature: Profile)
May 1, 2008... Born in Junction City, Kan. Married Marie Elena Magnine in 1977. Father of three, ages 27, 25 and 16. Bouhan's Best Bets SPORTS TEAMS 1. Liberty (Mo.) High School Lady Jays soccer team on which his daughter plays 2....

Zurich launches spills cleanup service.(Industry News)(Spill Center)(Brief article)
May 1, 2008... SCHAUMBURG, Ill.-Through its Zurich Environmental unit, Zurich Financial Services Group has launched an online service to assist North American customers with cleaning up spills of hazardous materials, fuel or other regulated materials. ...

Lighthouse expands elder care cover.(Industry News)(Lighthouse Underwriters, LLC)(Brief article)
May 1, 2008... DALLAS-Lighthouse Underwriters has enhanced its coverage for facilities caring for the elderly with a new ElderCare Plus program for assisted living facilities, independent living facilities and continuing care retirement communities that...

Insurers turning to customer management.(Industry News)(Datamonitor P.L.C. )(Report)(Brief article)
May 1, 2008... LONDON-Heightened competition and more informed customers will lead insurers worldwide to look beyond their core competency of risk management to focus on customer management, according to a new report from London-based Datamonitor P.L.C. ...

Swiss Re plans consulting unit in China.(Industry News)(Swiss Reinsurance Co.)(Brief article)
May 1, 2008... BEIJING-Swiss Reinsurance Co. is establishing a consulting company in China to provide comprehensive third-party administrator and related services to hospitals, insurers, policyholders and employers. The new Swiss Re subsidiary, Beijing...

Understanding `enterprise' vital to industry survival.(Tech Focus)
May 1, 2008... Byline: Gregory A. Maciag Enterprise is a word that's become ubiquitous over the past few years, especially in the area of technology. But what does it really mean in today's world? That's something I was thinking about while working on my...

On the move.(Kristian P. Moor appointed as chief executive officer of AIG Property Casualty Group)(Kevin H. Kelley appointed as executive vp of AIG Property Casualty Group)(John Q. Doyle appointed as executive vp of AIG Property Casualty Group )
May 1, 2008... Kristian P. Moor has been named president and chief executive officer of AIG Property Casualty Group, the newly renamed Domestic General Insurance operations of New York-based American International Group Inc. Kevin H. Kelley, chairman and CEO...

Liberty International enhances professional liability coverage.(Industry News)(Liberty International Underwriters partners with Business Risk Partners)(Brief article)
May 1, 2008... NEW YORK-Liberty International Underwriters, a division of Liberty Mutual Group, has expanded its insurance agents and brokers professional liability coverage through a partnership with Business Risk Partners. The coverage is provided on an...

Skywire Software releases ISO-based rating system.(Industry News)(Brief article)
May 1, 2008... FRISCO, Texas-Skywire Software has released Rating Xpress, a preloaded Insurance Services Office Inc. content application including loss costs and rating rules. Rating Xpress will be available to ISO subscribers using Skywire's Insbridge...

Hands off; Minimizing human error the aim of straight-through processing.(Feature: Perspective)
May 1, 2008... Byline: Keith Toney and Dorrie Pighetti How can an underwriter tell if a piece of business is a good risk? Traditionally, underwriters gathered available information about the business and then decided whether to accept it and how to price...

Making the most out of data warehousing.(Cover Focus: Information Technology)
May 1, 2008... Byline: Meg Fletcher Insurers and reinsurers that want to make the most efficient and effective use of their data often find themselves trying to optimize their data warehouse operations, experts say. Achieving the goal of quicker...

Food-borne ills pose sky-high peril.(Last Word)
May 1, 2008... Byline: Joseph F. Bermudez For North Americans, the year of eating dangerously continues. The food industry has been pummeled by contamination claims and recalls stemming from illnesses and deaths nationwide. The risks associated with...

Favorite tech tools.(In Focus)
May 1, 2008... Major information technology investments can be a key factor in a company's success in the insurance industry, but for many in the business, various personal technology devices are critical to getting the job done. Again this year, we've asked...

The quote.(Industry News)(Quotation)
May 1, 2008... "When you represent the surplus lines industry, the refrain: "I get no respect" resonates with you.' -Dick Bouhan, National Assn. of Surplus Lines Offices CAPTION(S): Dick Bouhan

Two warehouses that work.(Cover Focus: Information Technology)(case studies of Nationwide Mutual Insurance Co. and UK Life Branch of Munich Reinsurance Co.)
May 1, 2008... TWO CASE STUDIES offer a glimpse at the dividends paid by successful data warehousing initiatives at a property/casualty insurer, Nationwide Mutual Insurance Co., and a life reinsurer, the U.K. Life branch of Munich Re Group. Greater...

BI promotes staff.(News)(Michael Ambrosio appointed as promotion director, and Craig Bowman appointed as assistant circulation manager at Business Insurance Corp.)(Brief article)
May 5, 2008... NEW YORK-Business Insurance has promoted two members of its promotion and circulation departments. Michael Ambrosio has been named promotion director, and Craig Bowman has been named assistant circulation manager. Mr. Ambrosio joined...

Hostile workplace ruling could be influential; Person need not be specifically targeted: Court.(News)(C.H. Robinson Worldwide Inc.)
May 5, 2008... Byline: JUDY GREENWALD ATLANTA-Sexually explicit language in the workplace that is not directed at a particular person still can be the basis of a hostile work environment claim, according to a federal appeals court decision that observers...

Europe examines insurer pacts; Commission seeks evidence on benefits of competition law exemption.(International News)(European Union. European Commission)
May 5, 2008... Byline: SARAH VEYSEY BRUSSELS, Belgium-The European Commission has set a tight deadline for insurers and buyers to give tangible evidence to support the continued exemption of insurance industry practices from certain E.U. competition...

U.K. prepares for E.U. pollution law; Risk managers urged to review cover as liability exposures grow.(International News)
May 5, 2008... Byline: STUART COLLINS LONDON-Risk managers should consider the United Kingdom's proposed super environmental damage program-now slated for a December implementation-when renewing property and liability coverage, experts say. The...

Genetic bias legislation could help employers.(Opinions)(Genetic Information Nondiscrimination Act)(Brief article)
May 5, 2008... BEING FOREWARNED can mean being forearmed. That's the way we believe employers should approach the Genetic Information Nondiscrimination Act. Doing so could spare them a lot of headaches along the way. As we report on page 1, the act...

Crawford hopes to build on its presence at RIMS '08.(End Page)(Crawford and Co.)(Risk and Insurance Management Society Inc.)(Brief article)
May 5, 2008... While some exhibitors at last week's Risk & Insurance Management Society Inc. conference in San Diego might have felt as if they lived in their exhibit booth, one family actually may end up doing that. Atlanta-based Crawford & Co....

Diane Wolfson receives RIMS' Goodell award; Others honored for contributions to profession.(Spotlight: RIMS 2008)(Risk and Insurance Management Society Inc.)
May 5, 2008... Byline: JOANNE WOJCIK SAN DIEGO-Some of the best and brightest members of the risk management community received recognition during awards ceremonies at the Risk & Insurance Management Society Inc.'s 2008 annual conference. "It's the...

German D&O insurers brace for Siemens claim; Big covered losses from bribery charges could turn market.(News)(Siemens AG)
May 5, 2008... Byline: RICHARD MILLER MUNICH, Germany-Siemens A.G.'s intended claim against insurers that relates to a far-reaching bribery scandal could turn rates in the directors and officers insurance market, which is already braced for major losses...

Hungry for info?(End Page)(restaurants to post caloric information on menus )
May 5, 2008... Which has more calories: McDonald's Big Mac or Burger King's Whopper? Residents dining in certain New York restaurants soon will have such information at their fingertips thanks to a new health code provision that the city has put into...

Retiree health care options expand; HSAs, HRAs can be used to as alternative to expensive traditional plans.(News)
May 5, 2008... Byline: JERRY GEISEL WASHINGTON-Features that make it attractive for employers to offer health savings accounts and health reimbursement arrangements to employees also make them appealing as retiree health care funding vehicles, an expert...

E-discovery compliance starts with records management plan; Sloppy documentation retention practices can hurt a company's case.(Spotlight: RIMS 2008: Session Coverage)
May 5, 2008... Byline: ROBERTO CENICEROS SAN DIEGO-Companies should implement an "e-discovery'' record management plan as courts have penalized companies for failing to produce electronic records during discovery in litigation, experts say. In...

Communication is key to effective loss control program; Safety philosophy should be promoted companywide.(Spotlight: RIMS 2008: Session Coverage)
May 5, 2008... Byline: COLLEEN MCCARTHY SAN DIEGO-Communicating the importance of safety in the workplace is a critical component of any loss control strategy, risk managers say. While loss control strategies can reduce the frequency and severity of...

Products & services.(American International Group Inc. introduced AIG Passport for Pollution Legal Liability)(Lockton Cos. International Ltd. partners with Lloyd's of London )(Liberty Mutual Property introduces Green Select commercial property insurance )
May 5, 2008... AIG Passport available for environmental liability NEW YORK-American International Group Inc. has introduced AIG Passport for Pollution Legal Liability, which enables multinational companies to purchase locally admitted pollution legal...

RIMS plays key role in professional growth.(Opinions)(Risk and Insurance Management Society Inc.)(Brief article)
May 5, 2008... A THEME AT last week's RIMS 2008 Annual Conference & Exhibition was "Change the Way You Talk About Risk.'' That's a fitting theme, and a great deal of discussion did go on inside the San Diego Convention Center and out. From keynote...

Ballpark's name safe for now.(End Page)(Liberty Mutual Insurance Co. buys SAFECO Corp.)(Brief article)
May 5, 2008... The Seattle Mariners won't be playing baseball at Liberty Mutual Field anytime soon. Despite the Boston-based insurer's purchase of Safeco Corp. on April 23 for $6.2 billion, Liberty Mutual said it has no interest in renaming the ballpark...

Automatic-enrollment rules clarified; Labor Department protects employers' prior stable-value contributions.(News)(Department of Labor)(Brief article)
May 5, 2008... Byline: JERRY GEISEL WASHINGTON-New Labor Department guidance assures employers that they are protected from fiduciary liability for past contributions into so-called stable-value funds for employees enrolled automatically in 401(k) plans....

In brief.(News)(American International Group Inc. executive Nestor Diaz Barriga arrested on April 25)(ING Group N.V. acquired CitiStreet L.L.C.)(governor Jon Corzine has signed a legislation which enables employees to take paid leaves)
May 5, 2008... AIG exec released from Mexican jail Mexican authorities last week released a jailed American International Group Inc. executive after the insurer settled a commercial policy coverage dispute with TV Azteca S.A. de C.V. In return for...

RIMS leaders focus on transparent relationships, legislation; Supplemental fees paid to some brokers remain an ongoing issue.(Spotlight: RIMS 2008)(Risk and Insurance Management Society Inc.)
May 5, 2008... Byline: JOANNE WOJCIK SAN DIEGO-Although insurers and brokers have been working to improve the quality of the services they provide, they still have "a long way to go'' before the risk management community is satisfied with their progress,...

RIMS prepares to launch professional growth tool.(Spotlight: RIMS 2008)(Risk and Insurance Management Society Inc.)
May 5, 2008... Byline: JOANNE WOJCIK SAN DIEGO-Although it remains a work in progress, the Risk Management Professional Growth Model unveiled at this year's Risk & Insurance Management Society Inc. conference will become a valuable resource to help risk...

Risk managers need to attain higher profile at companies.(Spotlight: RIMS 2008)(Brief article)
May 5, 2008... Byline: SALLY ROBERTS SAN DIEGO-Risk managers deserve a seat in the C-suite, according to one executive. Chief executives today are deeply concerned about determining the next unexpected risk that could damage their company, and "that...

Spencer raises funds to educate risk managers; Foundation names first development director.(Spotlight: RIMS 2008)(Spencer Educational Foundation Inc. )
May 5, 2008... Byline: SALLY ROBERTS SAN DIEGO-The Spencer Educational Foundation Inc. said last week that it will award approximately $266,000 in scholarships to 36 undergraduate, graduate and doctoral students studying risk management and insurance in...

Genetic bias bill wins approval; Limited short-term impact expected.(News)
May 5, 2008... Byline: MARK A. HOFMANN WASHINGTON-Legislation health insurance and employment decisions based on genetic information should not have a significant impact on employers for the time being, legal experts say. But some say the Genetic...

Wildfires put disaster recovery plans to the test.(Spotlight: RIMS 2008: Session Coverage)
May 5, 2008... Byline: KRISTIN GUNDERSON HUNT SAN DIEGO-Good disaster response plans helped two California companies mitigate their losses last year when wildfires devastated parts of California. In October 2007, the San Diego area sustained around...

Oil refinery shutdown won't hit energy market; Most business interruption losses uninsured.(International News)(Ineos Oxide Ltd. )
May 5, 2008... Byline: MICHAEL BRADFORD GRANGEMOUTH, Scotland-A dispute over pensions that shut down a refinery and pipeline that carries a major portion of the United Kingdom's oil has cost dependent companies significant business interruption losses...

First-quarter cat losses worst in 10 years: PCS; Virginia tornadoes cap active start for 2008.(News)(Insurance Services Office Inc.)(Financial report)
May 5, 2008... Byline: MARK A. HOFMANN JERSEY CITY, N.J.-Catastrophes caused an estimated $3.35 billion in insured property damage during the first three months of this year, the Insurance Services Office Inc.'s Property Claim Services unit reported. ...

Author to tell tale of two Spitzers.(End Page)(a book and film written on New York Gov. Eliot Spitzer)(Brief article)
May 5, 2008... The juicy bits-for better or worse-of Eliot Spitzer's rise and fall will be revealed in both book and film form. The story of the former New York governor, who cracked down on Wall Street fraud and misconduct within the commercial insurance...

High-deductible plans report rapid growth; Low premiums, tax breaks fuel wide interest.(News)
May 5, 2008... Byline: JERRY GEISEL Enrollment in high-deductible health insurance plans linked to health savings accounts continues to surge, with the plans rapidly becoming a mainstream benefit plan offering. As of Jan. 1, 6.1 million people were...

'Tis the season of runs, hits, errors & omissions.(Commentary)(industry forecasts of insurance industry)
May 5, 2008... Byline: Douglas McLeod It's spring again, the season of hope and renewal, when Chicago Cubs fans dream of October baseball, movie executives envision huge grosses for the next John Travolta film and property underwriters imagine a year...

Deal cut without insurer consent warrants zero coverage; Court rules against Jacksonville, Fla., in $75 million settlement.(News)(Continental Casualty Co. and Transportation Insurance Co.)
May 5, 2008... Byline: DOUGLAS McLEOD ATLANTA-A liability insurer for Jacksonville, Fla., has no obligation to cover a $75 million pollution settlement because the city kept the insurer in the dark about settlement talks and agreed to the deal without...

Risk managers urged to advance prospects; Professional growth key for career development.(Spotlight: RIMS 2008)
May 5, 2008... Byline: SALLY ROBERTS SAN DIEGO-Risk management is growing in importance not only in corporate America but also globally, and risk managers must be prepared to broaden their skills as their roles expand, said Janice Ochenkowski, president...

Port Authority liable in '93 WTC bombing; Agency's security lax in 1993 attack, appeals court says.(News)(Port Authority of New York and New Jersey)
May 5, 2008... Byline: DOUGLAS McLEOD NEW YORK-A New York appeals court has affirmed a jury's verdict that the Port Authority of New York and New Jersey is liable for damages from the 1993 terrorist bombing at the World Trade Center that killed six...

Extended cover laws burden employers; Adult dependent mandates create headaches.(News)
May 5, 2008... Byline: JUDY GREENWALD Employers are coping with a growing number of laws that extend the age to which insured plans must offer coverage to employees' adult dependent children. While there is variation in these laws-which now have been...

On the web.
May 5, 2008... RIMS 2008 Online package features video, photos In-depth coverage of the Risk & Insurance Management Society Inc.'s 2008 conference in San Diego, from sessions to events, as well as video interviews with leading risk managers, is...

Online Poll at www.businessinsurance.com.(Opinions)
May 5, 2008... Should risk retention groups be allowed to cover property risks?? Yes: 71% No: 29% Next week's poll: Is federal legislation banning employment discrimination on the basis of genetic information necessary? BI Online Poll tool...

Alternative response plan necessary for unexpected events; Relationships are key to moving ahead with Plan B.(Spotlight: RIMS 2008: Trends)
May 12, 2008... Byline: GLORIA GONZALEZ SAN DIEGO-Advance preparation is crucial to the proper management of a crisis, but risk managers need to be ready to adapt their response to unexpected events, risk managers say. Calpine Corp. experienced an...

California comp reforms prove effective; Minor improvements in administration remain necessary.(Spotlight: RIMS 2008: Trends)
May 12, 2008... Byline: ROBERTO CENICEROS SAN DIEGO-California's workers compensation reforms continue to produce positive results, although minor improvements remain necessary, said employers, insurers and state regulators who attended the Risk &...

Errors & Omissions.(Correction notice)
May 12, 2008... * A May 1 e-mail alert on the most-viewed stories in April at www. BusinessInsurance.com contained an error. The top story was the jailing of an American International Group Inc. executive in Mexico. The executive, Norberto Luis Ferrara Perini,...

Market moves.(WellPoint Inc. acquires Resolution Health Inc.)(AmWINS Group Inc. acquires Beacon Risk Strategies)(Burns and Wilcox Ltd. opens a new office in Manroe)
May 12, 2008... WellPoint acquires data analytics company COLUMBIA, Md.-Indianapolis-based managed health care provider WellPoint Inc. has acquired Resolution Health Inc., a data analytics-driven personal health care guidance company in Columbia, Md. ...

Ohio A.G. vows to stay despite revelations.(End Page)(linvestigations of Attorney General Marc Dann for sexual harassment)(Brief article)
May 12, 2008... Ohio Attorney General Marc Dann and former New York Attorney General Eliot Spitzer have more in common than challenging insurance brokers' business practices. Nearly two months after Mr. Spitzer resigned as New York's governor after he was...

Few covered for product recalls; Quality control efforts redoubled; some weigh 'process change protocols'.(Spotlight: RIMS 2008: Trends)
May 12, 2008... Byline: DAVE LENCKUS Despite the U.S. government's monthly posting of numerous products that have been recalled for one defect or another, risk management experts say quality control overall is good and getting better-but not without some...

Product-related coverage tested.(Spotlight: RIMS 2008: Trends)
May 12, 2008... Byline: DAVE LENCKUS Insurers and risk managers are testing two ideas to insure product liability and product recall risks, and both concepts borrow heavily from coverages for other types of risks. One concept, which Northfield,...

'Pants judge' sues city for stripping him of job.(End Page)(cases of judge Roy Pearson )(Brief article)
May 12, 2008... The District of Columbia's so-called "pants judge'' has struck again. Former Administrative Law Judge Roy Pearson made global headlines last year as he pursued a $54 million lawsuit against a local dry cleaner for allegedly losing a pair...

Experts to discuss buying process; Hines Symposium to focus on relationships.(News)
May 12, 2008... CHICAGO-The 2008 Harold H. Hines Jr. Memorial Symposium in Chicago on May 15 will feature an expert panel discussing the business relationships among risk managers, brokers and underwriters. In a discussion titled "Odd Couples or Strange...

So much to 'say' about Super Duper vs. Mattel.(Commentary)(Mattel Inc. and Super Duper Publications)
May 12, 2008... Byline: Regis Coccia Trademark infringement litigation doesn't usually set my heart racing, but I was intrigued recently by a case pitting a mail-order publication house against the world's largest toy manufacturer that hit close to home....

Catastrophe commission is sound public policy.(Opinions)(political activity of Christopher Dodd chairman of United States Senate Committee on Banking, Housing, and Urban Affairs )(Brief article)
May 12, 2008... SENATE BANKING, HOUSING and Urban Affairs Committee Chairman Christopher Dodd, D-Conn., deserves high praise for turning a bill designed to extend the National Flood Insurance Program into a vehicle for broader inquiry into natural catastrophe...

MBIA sues D&O insurers to recover costs for finite-related class action; Financial guarantee insurers say Chubb, ACE should pay for defense.(News)
May 12, 2008... Byline: DAVE LENCKUS NEW YORK-MBIA Inc. is suing two directors and officers insurers for refusing to cover the financial guarantee insurer's costs to fight regulatory investigations and shareholder lawsuits related to its efforts to...

Employers: Proposals could undo gains.(Spotlight: RIMS 2008: Trends)
May 12, 2008... Byline: Roberto Ceniceros SAN DIEGO-While California's workers compensation insurance system continues to deliver the improvements that employers sought from a series of reforms beginning in 2002, legislative challenges are an ongoing...

Review of U.K. safety law sought; Consultants faulted for overzealous implementation of workplace rules.(International News)
May 12, 2008... Byline: TONY DOWDING LONDON-U.K. employers can be overcautious in their interpretation of workplace health and safety law, according to report from a House of Commons Select Committee, a multiparty body that reviews the performance of...

Security plan should address violence; Forming an incident response team can aid crisis management plan.(Spotlight: RIMS 2008: Trends)
May 12, 2008... Byline: KRISTIN GUNDERSON HUNT SAN DIEGO-The potential for violence in workplaces and schools should have risk managers contemplating their organizations' security and crisis management plans, a panel of experts said at the Risk &...

Risks to a company's reputation emanate from many sources; Damaged standing takes years to repair, may be irreparable.(Spotlight: RIMS 2008: Trends)
May 12, 2008... Byline: KRISTIN GUNDERSON HUNT SAN DIEGO-Managing reputational risks has become increasingly significant in recent years, as organizations have become more dependent on their solid reputations to maintain or grow their market share, a...

Deadly cyclone losses uninsured; Tens of thousands killed as storm devastates large areas of Myanmar.(International News)(Brief article)
May 12, 2008... Byline: MARK A. HOFMANN YANGON, Myanmar-Cyclone Nargis, which ravaged Myanmar earlier this month, is unlikely to have a significant impact on the international insurance market, according to modeling firm Risk Management Solutions. The...

Memorabilia sale riles 'Joe Cool'.(End Page)(Joe Montana files a cases against ex-wife Kim Moses )(Brief article)
May 12, 2008... Former San Francisco 49ers quarterback Joe Montana is better known for his passing skills than for writing love letters. Last week, Mr. Montana filed a lawsuit against ex-wife Kim Moses and a Texas memorabilia firm after learning that Ms....

Far from 'flawed,' HSAs fill a huge gap.(Opinions)(management of health savings accounts)(Brief article)
May 12, 2008... WHEN IT COMES to health savings accounts, it's clear that Rep. Pete Stark, D-Calif., needs an education. Rep. Stark, who chairs the House Ways and Means Health subcommittee, last week described HSAs, and the high-deductible health...

In brief.(News)(Property/casualty insurance rates dropped by an average of 12% compared with the same period last year)(lawsuit against Sprint Nextel Corp. alleging mismanagement of employee pension benefits)(tax break law for health savings accounts )
May 12, 2008... P/C rates fall in April: Survey Property/casualty insurance rates dropped by an average of 12% in April compared with the same period last year, MarketScout reported. The electronic insurance exchange found that general liability rates...

Costco rings up sales as latest place to buy commercial cover.(End Page )(Costco Wholesale Corp. partnering with SAFECO Corp.to provide business insurance service to customers)(Brief article)
May 12, 2008... While stocking up on vats of peanut butter, reams of printing paper or mountains of toilet paper, Costco members also can purchase something else: business insurance. Issaquah, Wash.-based Costco Wholesale Corp. has teamed with...

Project wrap-up insurance helps ensure comprehensive cover; Care needed in formulating programs to ensure adequate limits in place, long-tail liability exposures protected.(Spotlight: RIMS 2008: Trends)
May 12, 2008... Byline: DAVE LENCKUS SAN DIEGO-A deadly and destructive construction crane accident in New York demonstrates the value of wrap-up insurance programs, but several coverage factors distinguish wrap-up programs from one another, according to...

When the policy arrives, read it very carefully; Frequent changes in terms warrant scrutiny.(Spotlight: RIMS 2008: Trends)
May 12, 2008... Byline: GLORIA GONZALEZ SAN DIEGO-Property insurance policies evolve constantly, so risk managers need to examine their policies for exclusions that may undermine their coverage, experts say. Risk managers encounter numerous challenges...

Communication efforts critical to advance goals.(Spotlight: RIMS 2008: Trends)
May 12, 2008... Byline: GLORIA GONZALEZ SAN DIEGO-Managing relationships, particularly with the boss, is a critical element of professional development for risk managers. To advance their goals, risk managers must provide constant and thorough...

Senate rejects attempt to widen flood program; Bill sought to add wind losses to federal cover.(News)
May 12, 2008... Byline: MARK A. HOFMANN WASHINGTON-The Senate's overwhelming rejection of an amendment to expand the National Flood Insurance Program to also cover windstorm damage likely dooms the expansion in this Congress, even though the House...

Marsh cuts jobs, looks to sell parts of Kroll; First steps in Duperreault's plan to improve results at broker still recovering from 2004 crisis.(News)
May 12, 2008... Byline: SALLY ROBERTS NEW YORK-Marsh & McLennan Cos. Inc.'s top executive said MMC plans to divest some of the underperforming assets of Kroll Inc. and lay off more than 450 employees in efforts to restore profitability at the company. ...

Maine employers fight health plan bailout; Pioneering program to get tax-based infusion.(News)
May 12, 2008... Byline: JERRY GEISEL AUGUSTA, Maine-Business groups have formed a coalition to fight recent tax increases designed to shore up Maine's struggling program to provide state-subsidized health insurance coverage. The coalition, Fed Up with...

AIG seeks to rebound from $7.8 billion loss; Insurer announces plan to raise more capital.(News)(American International Group Inc.)(Financial report)
May 12, 2008... Byline: JUDY GREENWALD NEW YORK-Despite American International Group Inc.'s record $7.81 billion first-quarter loss, observers say it will remain a financial powerhouse. AIG President and Chief Executive Officer Martin J. Sullivan's...

Professional development helps risk managers move forward; Continuing job-related education, broadening general financial knowledge, gaining 'soft' skills viewed as vital.(Spotlight: RIMS 2008: Trends)
May 12, 2008... Byline: GLORIA GONZALEZ SAN DIEGO-Continuing education is a key component of professional development, but attaining the intangible skills that allow risk managers to perform their jobs effectively is equally critical, risk managers say....