Business Insurance articles from November 2008

Business Insurance archives from November 2008

Online strategies greatest hits; Multichannel approach key to capitalizing on emerging opportunities.(Cover Focus: Online Strategies)
November 1, 2008... Byline: Meg Fletcher The turmoil in the financial markets is driving some agent/brokers and consumers to insurers' Web sites in search of ways to cope with the economic pressures. Those agent/brokers and consumers are seeking...

Online strategies changing channels; Meet expectations with tech tools.(Cover Focus: Online Strategies)
November 1, 2008... Byline: Meg Fletcher Technological changes are creating a workplace reality to which the insurance industry must respond or face losing both customers and future employees, a Microsoft Corp. executive says. Overall, the development of...

The quote.(Industry News)
November 1, 2008... "I want to see an independent, nonprofit rating agency, only for the insurance industry.' -Michael McRaith, Director, Illinois Division of Insurance CAPTION(S): Michael McRaith

NAMIC to partner in study of P/C policy systems.(Industry News)(National Association of Mutual Insurance Companies)(Brief article)
November 1, 2008... INDIANAPOLIS-The National Assn. of Mutual Insurance Cos. will partner with management consulting, advisory and research firm Insurance Technology Group Inc. on a comprehensive survey of the business drivers influencing property/casualty...

Big I endorses Swiss Re Agency Shield Program.(Industry News)(The Independent Insurance Agents & Brokers of America)(Swiss Reinsurance Co.)(Brief article)
November 1, 2008... ALEXANDRIA, Va.-The Independent Insurance Agents & Brokers of America has endorsed the Agency Shield Program from Swiss Reinsurance Co. Ltd.'s Commercial Insurance Group for its agency errors and omissions policyholders. The Agency Shield...

FM Global to expand research campus, increase workforce.(Industry News)(Factory Mutual Insurance Co.)(Brief article)
November 1, 2008... WEST GLOCESTER, R.I.-Factory Mutual Insurance Co., which does business as FM Global, has announced a $38 million expansion of its 1,600-acre research campus in West Glocester, R.I. FM Global says the enhancements of the facility will ensure...

In focus.(Tech Focus)(Accenture Ltd.)(Affiliated Computer Services Inc.)(Computer Sciences Corp.)
November 1, 2008... As they look for the information technology power they need to do business effectively, many insurance industry companies often find it most efficient to look to outside partners rather than setting up systems in-house. Whether it's information...

Groups offer global regulatory principles.(Industry News)(Brief article)
November 1, 2008... Byline: Rodd Zolkos The Property Casualty Insurers Assn. of America joined other international trade associations last month in discussions focusing on the international financial crisis and related insurance supervision issues at the...

CEO pay and bonuses flat or declining: Study.(Industry News)(Brief article)
November 1, 2008... Byline: Rodd Zolkos The current economic decline, uncertain financial markets and the crisis in the financial services industry will likely keep pressure on insurance industry executive compensation, according to Mercer L.L.C. The New...

Three questions.(Industry News)(Andrew M. Appel of Aon Corp. )
November 1, 2008... Andrew M. Appel, chief executive officer of Chicago-based Aon Corp.'s Aon Re Global unit, expects this reinsurance renewal season to be a challenging one, as ceding companies look to protect themselves not just from traditional exposures but...

Most insurers' capital levels adequate: S&P.(Industry News)(Standard & Poor's Corp.)(Brief article)
November 1, 2008... Byline: Rodd Zolkos Recent catastrophes and investment losses have combined with soft pricing conditions to create a challenging environment for commercial lines insurers, but rating agency Standard & Poor's Corp. considers most insurers'...

On the move.(Industry News)(American International Group Inc. has appointed some people)(Ace USA Inc. has appointed some people)(Factory Mutual Insurance Co. has appointed Ruud Bosman )
November 1, 2008... New York-based American International Group Inc. has named Paula Rosput Reynolds vice chairman and chief restructuring officer. Ms. Reynolds previously was chairman, president and chief executive officer of Safeco Corp. AIG also named David L....

CPCU Society opens meeting to nonmembers.(Industry News)(Brief article)
November 1, 2008... MALVERN, Pa.-Starting with its 2009 gathering in Denver, the CPCU Society will open registration to its annual meeting and seminars to nonmembers. Previously, the event was open only to members of the Malvern, Pa.-based CPCU Society and...

For-profit rating agencies, models examined at PCI.(Feature: Gatherings)(Property Casualty Insurers)
November 1, 2008... Byline: Meg Fletcher SCOTTSDALE, Ariz.-Illinois Insurance Director Michael McRaith discussed the role rating agencies have played in the current economic crisis with restraint, but his disapproval of rating agencies' "stealth regulation''...

The whole insurance world's watching.(First Word)(Personal account)
November 1, 2008... Byline: Rodd Zolkos I write this not too long after what by anyone's calculation has to be considered a pretty remarkable election, particularly remarkable, I think, if you happened to be here in Chicago. As a Chicagoan, much of what...

On the web.(News)(briefs)(Brief article)
November 3, 2008... QUESTIONS & ANSWERS See expanded interview with AIG chief Ed Liddy Business Insurance offers an expanded version of the interview with American International Group Inc. Chairman and CEO Edward Liddy, featured on page 29, online at...

VOTE in the BI Online Poll at www.businessinsurance.com; This week's results.(Opinions)(Survey)(Brief article)
November 3, 2008... Q. Can New York achieve insurance contract certainty in a year? Yes, within a year. - 19% Yes, but not in a year. - 31% No - 50% Next week's question: How will you adjust your contribution to a medical savings account for...

WRITE.(Opinions)
November 3, 2008... Business Insurance welcomes letters to the editor. The section is intended to be a forum for readers' opinions and comments. We reserve the right to edit letters for clarity or space. We will not publish unsigned letters. Please send your...

Comings & goings online.(Comings & Goings)
November 3, 2008... Visit www.businessinsurance.com/ComingsandGoings for a full list of this week's personnel moves and promotions. Check our Web site daily for additional postings. Sign-up online for the weekly Comings and Goings e-mail. To Submit Items ...

Benefits of risk management.(International News)(Survey)(Brief article)
November 3, 2008... Percentage of respondents that agreed with the following statements: * Risk management improves accountability, decisionmaking, transparency and visibility. 93% * Risk management protects reputation and stakeholder confidence. 93% ...

States pass comp rate reductions; Employers expected to benefit from decline in coverage costs.(News)(compensation)(Brief article)
November 3, 2008... Byline: ROBERTO CENICEROS Several states recently approved workers compensation rate reductions for next year. Florida Insurance Commissioner Kevin McCarty last Tuesday approved an 18.6% workers compensation rate reduction effective...

High court's rulings cut both ways.(Spotlight: Liability & Litigation)(dialogue with Robin S. Conrad of National Chamber Litigation Center Inc.)(Interview)
November 3, 2008... Byline: Mark A. Hofmann Robin S. Conrad was promoted in 2007 to executive vp of the National Chamber Litigation Center Inc., which handles lawsuits on behalf of the U.S. Chamber of Commerce in Washington. During her more than two decades...

Secretive nature of arbitration makes it difficult to evaluate; More research has been conducted on employment and securities cases than consumer and franchise disputes.(Spotlight: Liability & Litigation)
November 3, 2008... Byline: NICK WHITFIELD In the debate over predispute mandatory arbitration agreements, advocates for both sides cite empirical research to back their claims. But the data that is available has not been enough to clear the air-because...

Bills target mandatory arbitration; Legislation would curtail use in nursing homes, consumer agreements.(Spotlight: Liability & Litigation)
November 3, 2008... Byline: NICK WHITFIELD Federal legislation that would ban or greatly limit the use of mandatory arbitration to resolve certain contract disputes gained traction in the latest session of Congress and, some say, may win passage in the next...

Financial crisis expected to fuel civil suits, criminal charges; 'Bonanza' predicted for plaintiff lawyers targeting companies.(Spotlight: Liability & Litigation)
November 3, 2008... Byline: MARK A. HOFMANN WASHINGTON-The current financial crisis likely will lead to what one attorney calls a "lawyerpalooza.'' There will be a "wave of private suits'' six to 18 months from now, Andrew J. Rossman, New York-based...

McCAIN VS. OBAMA; How the presidential contenders differ on health care reform.(News)(John McCain)(Barack Obama)(Brief article)
November 3, 2008... John McCain supports * Adding health premiums paid by employers to employees' taxable income. * Providing a refundable tax credit of $2,500 for individuals and $5,000 for families to pay health premiums. Unused credits could be...

Products & services.(Crump Insurance Services Inc.)(Lincoln National Corp.)(AIG Excess Casualty)
November 3, 2008... Crump, Ironshore offer construction program DENVER-Crump Insurance Services Inc., a division of Crump Group Inc., has partnered with Bermuda-based Ironshore Inc. to offer a general liability program for commercial and residential...

Employers recork holiday champagne.(End Page)
November 3, 2008... Byline: Contributing: Mike Tsikoudakis and Joanne Wojick. Employer-sponsored holiday parties are being scaled back in response to the nation's economic troubles, but spirits will still be flowing at many gatherings. In its annual...

Fallback on recipe for heart health.(End Page)(Brief article)
November 3, 2008... Turning back the clock over the weekend may have saved your life. A study in the New England Journal of Medicine suggests that heart attacks decrease by 5% on the Monday after daylight-saving time, possibly because of the extra hour of...

Business Insurance adds event planner; Risk management awards, other project among Rebecca Briggs' duties.(News)(Brief article)
November 3, 2008... NEW YORK-Rebecca Briggs has joined Business Insurance as event manager, responsible for all of the publication's events including the Women to Watch Luncheon, the Risk Manager of the Year Awards and other projects. Before joining Business...

Tort reform backers win some battles to reduce liability risks; 'Reinvigorated plaintiffs bar' requires ongoing vigilance.(Spotlight: Liability & Litigation)
November 3, 2008... Byline: MARK A. HOFMANN Tort reform has been losing traction at the federal level and is facing increasing challenges at the state level as well, say civil justice reform advocates. That doesn't mean that tort reformers have given up...

Tort law battlegrounds stretch from East to West coasts; Emotional damages in wrongful death case at issue in New Jersey; efforts to limit California class actions fall short.(Spotlight: Liability & Litigation)
November 3, 2008... Byline: MARK A. HOFMANN Even when playing defense in protecting hard-won gains in state legislatures, tort reform advocates constantly look for new opportunities to restore what they consider balance to the civil justice system. For...

Blame regulatory vacuum for subprime meltdown.(Commentary)
November 3, 2008... Byline: Douglas McLeod Enrico Fermi, working on the Manhattan Project in the New Mexico desert in 1945, famously took bets on whether the first atom bomb test would ignite the atmosphere. It's not known whether the math geniuses who...

Up close SHARON SCHEUERMANN.(Comings & Goings)(Scotch Plains has been appointed at Dubraski & Associates Insurance Services L.L.C)
November 3, 2008... NEW JOB TITLE: Scotch Plains, N.J., and New York-based senior associate with Dubraski & Associates Insurance Services L.L.C. PREVIOUS POSITION: New York-based senior vp with Marsh Inc. VITAL STATISTICS: I am a CPCU (Chartered Property &...

Insurance was source of Kafka's angst.(End Page)(Brief article)
November 3, 2008... Before Franz Kafka's metamorphosis into literature's lonely scribe of existential despair, he worked as a high-ranking lawyer for an insurance company. "Franz Kafka: The Office Writings,'' published this fall by Princeton University Press...

Some attribute drop in medical service use to rise in consumer-driven health plans.(News)
November 3, 2008... Byline: Joanne Wojcik Some health care experts attribute recent findings showing a decline in the use of medical services to the consumerism movement and hope the current economic downturn will persuade many employees to consider...

EAP vendors report surge in number of help line calls.(News)(employee assistance programs)
November 3, 2008... Byline: JOANNE WOJCIK As employers increase benefit communications efforts to make employees aware of the availability of employee assistance programs, EAP vendors are reporting an unprecedented number of calls to help lines. Many of...

Reinsurers predict higher rates; Not all in Baden-Baden expect short-term end to soft market.(International News)
November 3, 2008... Byline: RICHARD MILLER BADEN-BADEN, Germany-Reinsurers expect that increased demand for reinsurance as a form of capital relief will allow them to increase rates by at least 10% or more in certain lines at Jan. 1, 2009 renewals. ...

U.K. sets standards for risk management; Framework a guide to principles, models.(International News)
November 3, 2008... Byline: SARAH VEYSEY LONDON-The British Standards Institution has launched its standard for risk management. The standard, BS 31100 Code of practice for risk management, went into effect Oct. 31. It is intended to be a guide to risk...

European insurers lead in ERM: Study.(International News)(Brief article)
November 3, 2008... Byline: SARAH VEYSEY European insurers and reinsurers are making progress in implementing enterprise risk management strategies and overall tend to lead their U.S. counterparts on ERM implementation, according to a study by Towers Perrin....

Want $10M? Easy! Just fix health care.(End Page)(X PRIZE Foundation )(Brief article)
November 3, 2008... Americans who don't like either of the two presidential candidates' health reform proposals now have a chance to try to fix the system themselves. Indianapolis-based health insurer WellPoint Inc. and the X PRIZE Foundation are offering $10...

Webinar eyes regulatory reform; Free online forum Nov. 12 features panel of industry experts.(News)(Brief article)(Conference notes)
November 3, 2008... Amid the global economic crisis, regulatory reform is a hotly debated topic. To explore this subject in depth and pose questions to industry experts, join Business Insurance supplement Industry Focus for a free Online Executive Forum...

Skimping on health care feared in tough times; Employers urged to caution workers against cutting corners by skipping doctor visits, prescriptions.(News)
November 3, 2008... Byline: JOANNE WOJCIK Concerned that some employees may be scrimping on essential health care during the current economic downturn, experts advise employers to step up benefit communications to emphasize the importance of getting...

Court allows RICO suit over comp claim denial; Claimants allege employer, TPA conspiracy.(News)
November 3, 2008... Byline: ROBERTO CENICEROS A federal appeals court decision allowing a racketeering lawsuit to proceed against an employer and its third-party administrator could drive increased litigation over denial of workers compensation claims, some...

Errors & Omissions.(Correction notice)
November 3, 2008... A story in the Oct. 20 issue, "Predictive Models Tackle Drivers of Workers Comp Claims,'' misstated the name of a third-party administrator. The correct name is Cambridge Integrated Services, not Cambridge International. A chart in the...

Victim of racial attack ineligible for comp.(News)(Brief article)
November 3, 2008... Byline: ROBERTO CENICEROS MONTGOMERY, Ala.-A Burger King restaurant manager sexually assaulted in a racially motivated attack as she arrived at work is not eligible for workers compensation benefits, the Alabama Supreme Court has ruled....

Shape of Congress will inform agenda; Regulatory changes expected, but extent unclear.(News)
November 3, 2008... Byline: MARK A. HOFMANN WASHINGTON-The ongoing financial markets crisis almost guarantees that insurance regulation will be on the next Congress' agenda, industry observers say. The nature of any new regulation could well depend on a...

P/C insurer groups unite in opposing federal capital aid; AIA, NAMIC and PCI say primary coverage providers are sufficiently capitalized and reserved to pay their claims.(News)
November 3, 2008... Byline: MARK A. HOFMANN WASHINGTON-The three major primary property/casualty insurer trade groups may not agree on everything, but they are united in their belief that P/C insurers should not participate in the federal government's capital...

Battle positions drawn on binding arbitration.(Opinions)(Brief article)
November 3, 2008... WHILE WE CAN'T predict the exact composition of the Congress that will be elected tomorrow, it's a safe bet that the assault on binding arbitration agreements that began in the last Congress will continue. In fact, it will likely gain strength....

AIG chief sees bright future despite current turmoil; Questions & answers.(News)(dialogue with Edward Liddy)(Interview)
November 3, 2008... Byline: Regis Coccia American International Group Inc. continues to borrow money under federal financing programs to meet obligations, but its underlying insurance operations are running smoothly, said Edward Liddy, chairman and chief...

Several states poised to get new insurance regulators.(News)
November 3, 2008... Byline: MEG FLETCHER Voters' choices in Tuesday's elections could affect top insurance regulators in as many as 10 states. Five states have elections to determine the top insurance regulator-Delaware, Montana, North Carolina, North...

CNA gets capital boost as losses hit 3Q results; Parent adds $1.25B as investments, cats take toll on insurer.(News)(CNA Financial Corp. financial news)(Financial report)
November 3, 2008... Byline: JUDY GREENWALD CHICAGO-Loews Corp.'s $1.25 billion capital infusion into its CNA Financial Corp. unit will help the insurer maintain its strength despite its $331 million third-quarter loss, observers say. The move also...

Greenberg to Liddy: Time is running out.(News)
November 3, 2008... Byline: JUDY GREENWALD NEW YORK-Time is running out for American International Group Inc., former Chairman and Chief Executive Officer Maurice R. Greenberg said in a letter to current Chairman and CEO Edward Liddy that calls for a...

New York seeks private takeover of runoff; Unusual tactic used in Midland liquidation.(News)
November 3, 2008... Byline: ZACK PHILLIPS EAST RUTHERFORD, N.J.-The New York Liquidation Bureau will solicit proposals from private runoff companies to take over the 22-year-old liquidation of Midland Insurance Co., a state official said. Mark G. Peters,...

Groups seek reprieve on pension funding; Drop in plans' funded status putting pressure on employers.(News)
November 3, 2008... Byline: JERRY GEISEL WASHINGTON-Business groups are urging federal legislators to temporarily suspend certain pension plan funding rules, warning of serious consequences if employers are required to replenish too quickly plans battered by...

Benefits paid in full well worth the risk.(Opinions)
November 3, 2008... IT IS UNDERSTANDABLE if federal legislators are skeptical about proposals by more than a dozen business groups to temporarily ease pension plan funding rules that Congress stiffened little more than two years ago. There is an historical...

Rivals snatch AIG staff as uncertainty lingers; Insurer says personnel defections manageable.(News)(American International Group Inc)
November 3, 2008... Byline: DAVE LENCKUS NEW YORK-Numerous senior underwriting executives have bolted from American International Group Inc. in recent weeks in an exodus that some departed executives and AIG's competitors expect to continue as many remaining...

In brief.(News)(Briefs)(Financial report)
November 3, 2008... Cat claims total $11.5B in quarter U.S. property/casualty insurers will pay $11.5 billion in catastrophe claims for the third quarter, estimates the Property Claim Services unit of the Insurance Services Office Inc. PCS said in a statement...

On the web.(News)(Brief article)
November 10, 2008... ELECTION 2008 Read complete election coverage online Business Insurance offers complete election coverage, including comprehensive coverage of the all issues affecting commercial insurance and employee benefits, plus the relevant...

WRITE.(Opinions)
November 10, 2008... Business Insurance welcomes letters to the editor. The section is intended to be a forum for readers' opinions and comments. We reserve the right to edit letters for clarity or space. We will not publish unsigned letters. Please send your...

VOTE in the BI Online Poll at www.businessinsurance.com; This week's results.(Opinions)(Survey)(Brief article)
November 10, 2008... Q. How will you adjust your contribution to a medical savings account for 2009? Increase: 48% Decrease: 17% No change: 21% Do not have an HSA, FSA or similar account: 14% Next week's question: How long will it take the...

Comings & Goings online.(Comings & Goings)(Brief article)
November 10, 2008... Visit www.businessinsurance.com/ComingsandGoings for a full list of this week's personnel moves and promotions. Check our Web site daily for additional postings. Sign up online for our new weekly Comings & Goings e-mail alert. To Submit...

Errors & Omissions.(Correction notice)
November 10, 2008... An item in the Nov. 3 issue misstated Hartford Financial Services Group Inc.'s 2008 nine-month result as a $1.94 million loss; the loss for the period was $1.94 billion.

Court backs prior-litigation exclusion; Appeals panel rules against ex-HealthSouth execs accused in lease deal.(News)
November 10, 2008... Byline: DOUGLAS McLEOD ATLANTA-A company controlled by former top officers of HealthSouth Corp. is not entitled to liability coverage in a lawsuit charging that the company improperly siphoned money away from HealthSouth, a federal appeals...

Pandemic plans still important; READ: Perspectives and expert analysis online at www.businessinsurance.com/knowledgecenter.(Opinions)
November 10, 2008... Byline: Mike McGuire With the global financial crisis affecting many businesses, it may be tough for risk managers to get C-suite attention and support in preparing a pandemic plan, says Mike McGuire, vp of anti-infectives at F. Hoffman La...

Health care reform requires consensus.(Opinions)(Barack Obama)(Brief article)
November 10, 2008... WHEN BILL CLINTON won the presidency 16 years ago, hopes were high that the new administration would lead a successful drive to enact sweeping health care reform legislation. As is well-known, that effort failed, in large part due to the...

Insurers building a floor for construction market; Tight credit, building slowdown hurt stability.(News)
November 10, 2008... Byline: JEFF CASALE LAS VEGAS-While financial institutions bore the brunt of October's financial crisis, the ripple effect is making its way to the construction industry, where risk managers, contractors, brokers, insurers and underwriters...

Credit crunch seen as boost for premium financing firms; Interest rates rising but remain generally lower than banks.(News)
November 10, 2008... Byline: ZACK PHILLIPS Businesses looking to finance their insurance premiums already are seeing higher rates from premium finance companies as a result of tightening credit markets, according to finance firms and observers. Still,...

Virtual RIMS meeting on real-world risks.(End Page)(Risk & Insurance Management Society Inc)(Brief article)(Conference notes)
November 10, 2008... Byline: Contributing: Jeff Casale, Roberto Ceniceros and Mark A. Hofmann When science fiction giant William Gibson coined the term "cyberspace'' back in 1982, it's unlikely he envisioned that realm as a place for risk management meetings....

Star pays for watch mix up.(End Page)(Charlize Theron)(Brief article)
November 10, 2008... Time is money, as the saying goes. For actress Charlize Theron, settling a lawsuit before it went to trial saved her at least one of those. Ms. Theron last week reportedly settled a suit brought by Swiss watch maker Raymond Weil S.A. While...

Roth 401(k)s expected to join the mainstream; Number of employers offering plans grows more than 10% in 2007.(Benefits Management)
November 10, 2008... Byline: ZACK PHILLIPS Employers are adopting Roth 401(k) savings plans faster than employees are embracing them, but many observers expect the plans to join the mainstream of employer-sponsored retirement packages in the coming years. ...

Health reform gets new hope; Plan's shape, cost remain big questions.(News)
November 10, 2008... Byline: JERRY GEISEL WASHINGTON-The election of Barack Obama as president will change the health care legislative landscape dramatically when the Illinois Democrat takes office in January. For the first time since Bill Clinton assumed...

Cash balance plans making a comeback.(Benefits Management)
November 10, 2008... Byline: JERRY GEISEL The combination of the financial market crisis, recent legislative changes and court rulings may renew the appeal of converting defined benefit pension plans to cash balance plans, experts say. While few major...

Automatic enrollment becoming the norm; More than half of large employers use system.(Benefits Management)
November 10, 2008... Byline: KRISTIN GUNDERSON HUNT More employers are adding automatic enrollment to their 401(k) plans as they strive to get and keep their employees saving for retirement in what has become many employers' primary savings plan vehicle. ...

403(b) plan sponsors face tougher IRS rules; Nonprofit employers seen reducing choices to ensure compliance.(Benefits Management)
November 10, 2008... Byline: JERRY GEISEL Many nonprofit employers that offer 403(b) defined contribution pensions are scrambling to bring their plans into compliance with Internal Revenue Service rules that take effect next year. Those regulations, which...

Europe considers future of insurers' antitrust exemption; Commission asks for more evidence that block exemption from competition laws for industry is still necessary.(International News)(Brief article)
November 10, 2008... Byline: SARAH VEYSEY LONDON-The European Commission is still investigating whether the insurance industry's block exemption to certain European competition laws should be maintained when it expires in 2010, but the Commission needs to see...

Market moves.(News)(Willis HRH partnering with DAVID Corp. to provide a new underwriting and policy administration system)(HMS Insurance Associates Inc. merging with Warfield-Dorsey Co)(Ironshore Insurance Ltd licensing tool from Risk Management Solutions Inc)
November 10, 2008... Willis HRH, DAVID team up; broker backs quake model SAN FRANCISCO-New York-based brokerage Willis HRH, a unit of Willis Group Holdings Ltd., said it will partner with DAVID Corp. to provide a new underwriting and policy administration...

Nightmare on Pine St. T-shirts available.(End Page)(Brief article)
November 10, 2008... Hong Kong-based retailer Giordano International Ltd. is exploiting the frightening condition of American International Group Inc. and other U.S. financial firms in a line of Halloween-themed T-shirts. Giordano, an apparel retailer with...

Reinsurance market reels; But renewals will remain flat, rise slightly.(News)
November 10, 2008... Byline: JUDY GREENWALD SCOTTSDALE, Ariz.-Reinsurance rates at the upcoming January renewals will either level off or rise slightly, particularly for property lines, many reinsurance officials say. However, some observers expect the...

Long jail terms possible in Gen Re finite fraud; Judge rules phony reinsurance deal caused more than $500 million in losses to AIG shareholders.(News)
November 10, 2008... Byline: DOUGLAS McLEOD HARTFORD, Conn.-Five former reinsurance executives face an increased risk of long prison terms following a federal judge's ruling that a fraudulent 2000 reinsurance deal caused more than $500 million in losses to...

Crisis won't halt startups: Panel; Future catastrophe still expected to trigger wave of new companies.(International News)
November 10, 2008... Byline: SIMON CHALLIS LONDON-A wave of new capital is likely to flood into the insurance industry after the next mega-catastrophe, despite the credit crisis. And much of that new cash may go into London as well as Bermuda, a panel of...

Charges put MMC into red for third quarter; Marsh Inc. ordered to pay $48.5M settlement.(News)(Marsh & McLennan Companies Inc.)
November 10, 2008... Byline: SALLY ROBERTS NEW YORK-Marsh & McLennan Cos. Inc. last week recorded a $33 million third-quarter charge to increase its professional liability reserves after its brokerage unit was ordered to pay $48.5 million to a client for a...

Suit filed to overturn Calif. gay marriage ban.(News)(Brief article)
November 10, 2008... Byline: JOANNE WOJCIK SAN FRANCISCO-Even before all of Tuesday's votes had been tallied, opponents of a California ballot measure that would end same-sex marriage filed a lawsuit asking the state Supreme Court to invalidate the proposed...

Investments, cat losses hit results at Swiss Re.(International News)(Swiss Reinsurance Co.)(Financial report)(Brief article)
November 10, 2008... Byline: JUDY GREENWALD ZURICH, Switzerland-Investment losses and catastrophes hit Swiss Reinsurance Co.'s nine-month results, dropping the reinsurer's net income for the period by 77.9% to 884 million Swiss francs ($756.8 million). ...