Business Insurance articles from October 2007

Business Insurance archives from October 2007

Microsoft lures workers with high-end benefits; Despite initial costs, company sees savings from better care.(Microsoft Corp.)
October 1, 2007... Byline: ROBERTO CENICEROS SEATTLE-To attract and retain talent and to achieve greater cost savings, Microsoft Corp. has developed an innovative benefit program that includes a therapy program for children with autism and a "high-end''...

Surplus lines reform closer to passage; But several hurdles could hamper bill's progress.(political aspects of insurance law)
October 1, 2007... Byline: MARK A. HOFMANN This Congress could approve a measure that would streamline the regulation of surplus lines insurers, say supporters of the measure. In late June, the House of Representatives approved by voice vote the...

House panel passes mental health parity; Measure more expansive than Senate version.(Congress. House. Committee on Ways and Means)
October 1, 2007... Byline: MARK A. HOFMANN WASHINGTON-As far as employer groups are concerned, the House Ways and Means Committee did nothing to make a bad mental health parity bill any better when it approved the measure last week. Employers greatly...

Supreme Court shift favors employers; Bush appointees make pro-business rulings more likely in workplace rights cases.(analysis of labor law)
October 1, 2007... Byline: Gerald L. Maatman Jr. The Supreme Court's 2006/2007 term has enhanced expectations for employers and employment practices liability insurers looking for a leveling of the EPLI playing field. Plaintiffs took it on the chin in...

Intel clinics chip away worker health delusions; Expert advice used to boost employee wellness.(Intel Corp.)
October 1, 2007... Byline: ROBERTO CENICEROS SEATTLE-To help its employees better understand and maintain their health, Intel Corp. opened onsite clinics last year as part of a broadening of its health assessment and wellness efforts. The Santa Clara,...

Rehab, consulting services important for recall recovery.(Aon Corp.)(Brief article)
October 1, 2007... Byline: Dave Lenckus While the limits available from stand-alone product recall underwriters in the nonadmitted market far outstrips what is available from general liability underwriters, brokers talk more about the importance of product...

Stamping office data indicates slow growth.
October 1, 2007... Byline: ROBERTO CENICEROS Data from the 14 stamping offices across the United States shows growth during the first half of 2007 but at a slower rate than recent years. Under recent market conditions, premium generation has varied...

Wendy's finger food scammer tries to get sentence reduced.(cases of Wendy's International Inc.)(Brief article)
October 1, 2007... The woman who claimed she bit into a fingertip while eating a bowl of chili has received a largely thumbs-down ruling from a California appellate court. Anna Ayala gained "national notoriety,'' the Sixth District Court of Appeal stated,...

High court agrees to hear product liability dispute; Drugmaker claims constitutional protection.
October 1, 2007... Byline: DAVE LENCKUS WASHINGTON-When the U.S. Supreme Court hands down its decision in a product liability lawsuit against a pharmaceutical company that maintains it is constitutionally protected against such claims, all companies selling...

Assessments, response plans crucial for global supply chain exposures; Risk managers need to examine suppliers' planning.(analysis of product safety)
October 1, 2007... Byline: GLORIA GONZALEZ HALIFAX, Nova Scotia-The globalization of supply chains creates new exposures that risk managers should anticipate and for which they should build a response plan, experts say. Several North American companies...

Wholesalers diversify operations to grow during difficult market; Brokers try new lines, expand MGA business as rating levels fall.(growth of property and casualty insurance industry)
October 1, 2007... Byline: SALLY ROBERTS With the soft property/casualty insurance market stymieing growth opportunities among the nation's largest wholesale brokers, diversification has become a key strategy. After capitalizing on the difficult property...

Private equity moves to sidelines.(BISYS Group Inc. and JC Flowers & Company L.L.C.)
October 1, 2007... Byline: SALLY ROBERTS With the exception of J.C. Flowers & Co. L.L.C.'s acquisition of BISYS Group Inc.'s wholesale brokerage operations in May and resulting merger with Crump Insurance Group, the infusion of private equity capital into...

Ex-funeral director deceives the living.(Brief article)
October 1, 2007... A former funeral home director said he reported live people as dead to try to save his ailing business. Kent Kellogg, 51, pleaded guilty to four counts of insurance fraud for cashing in pre-needs insurance policies totaling an estimated...

Virginia Tech gets grant for threat assessment.(Virginia Polytechnic Institute and State University)(Brief article)
October 1, 2007... Byline: DAVE LENCKUS BLACKSBURG, Va.-Virginia Polytechnic Institute and State University-the scene of the nation's most deadly campus shooting-has been awarded a federal government grant of nearly $1 million to develop a model for...

District court orders Chubb unit to pay $24M to D&O policyholder.(Executive Risk Indemnity Inc. and AFC Enterprises Inc.)(Brief article)
October 1, 2007... Byline: JEFF CASALE ATLANTA-A judge has ordered Chubb Corp. unit Executive Risk Indemnity Inc. to pay $24 million to directors and officers liability policyholder AFC Enterprises Inc. over a claim related to AFC's settlement of shareholder...

Ignoring safety rules doesn't bar comp: Court.(analysis of safety regulations)(Brief article)
October 1, 2007... Byline: JEFF CASALE COLUMBUS, Ohio-The Supreme Court of Ohio has reversed its 2006 decision denying workers compensation benefits to a former fast-food worker who broke safety rules and caused his own injury. In a divided 5-2 opinion,...

Marsh executive revamp seeks 'focus and clarity'; Changes follow Brian Storms' recent departure.(Marsh Inc.)(Brief article)
October 1, 2007... Byline: SALLY ROBERTS NEW YORK-Philip Moyles, executive vp of Marsh Inc., has been named chief executive officer of the Americas in a realignment of Marsh's senior management following the departure last month of former CEO Brian Storms....

Court rules against former NFL player in disability case; Earlier decision on nature of injuries doesn't force rehearing.(Court of Appeals for the 9th Circuit)(Brief article)
October 1, 2007... Byline: JUDY GREENWALD SAN FRANCISCO-A former National Football League player cannot seek a rehearing of his disability benefits case even though he was unaware of case law that might have helped him obtain a better settlement during the...

ISCEBS draws 450 to Seattle.(ISCEBS Symposium)
October 1, 2007... Byline: Roberto Ceniceros SEATTLE-About 450 people attended the International Society of Certified Benefit Specialists' Employee Benefits Symposium 2007, which was held Sept. 16-19 in Seattle. Benefit managers and providers presented...

RIMS Canada draws 650 to Halifax.(RIMS Canada Conference)(Conference news)
October 1, 2007... Byline: Gloria Gonzalez HALIFAX, Nova Scotia-More than 650 people attended the 32nd RIMS Canada Conference Sept. 17-19 in Halifax, Nova Scotia. The conference, which was sponsored by the Canadian arm of the Risk & Insurance Management...

14 U.S. insurers decry Bermuda 'loophole'.(News)(taxation of insurance industry)
October 1, 2007... Byline: MARK A. HOFMANN WASHINGTON-The U.S. domestic insurance industry may be forced offshore unless the tax treatment of foreign-domiciled reinsurers changes, the head of a U.S. reinsurer told the Senate Finance Committee last Wednesday....

BI adds to staff in Chicago office.(News)(officials and employees of Business Insurance Corp.)(officials and employees of Interactive. )(Brief article)
October 1, 2007... CHICAGO-Business Insurance has added to its editorial staff in Chicago. Kristin Gunderson Hunt has joined the magazine as an associate editor. She previously was managing editor of the Journal of Property Management, which is a...

Computer crime losses double.(News)(reports of Computer Security Institute about computer crimes)
October 1, 2007... Byline: SUSAN KELLY Corporate losses from computer crime more than doubled last year, reversing a five-year declining trend. The Computer Security Institute's survey of 494 computer security professionals found that the average...

INTERNATIONAL DIPLOMA.(International News)
October 1, 2007... The International Diploma in Risk Management is made up of three levels. Level One consists of five core modules that must be taken by all students. Those modules are: * Principles of risk: an introduction to the concept of risk...

IRM launches international diploma; Qualification encourages broad view of risk management discipline.(International News)(Institute of Risk Management)
October 1, 2007... Byline: TONY DOWDING HATFIELD, England-The London-based Institute of Risk Management has launched a new professional development qualification designed to reflect a much broader view of risk and risk management. Unveiling the new...

Many French retirees worked with asbestos; But small percentage of craftsmen suffered serious health problems.(International News)
October 1, 2007... Byline: RICK MITCHELL Half of retired French artisanal workers-craftsmen-have been exposed to asbestos during their careers, according to early results from a French government study. From September 2005 to February 2007, researchers...

Competition heats up among admitted, surplus lines insurers.(Spotlight: Surplus Lines)(prices and rates of insurance)
October 1, 2007... Byline: STEVEN TUCKEY As insurance rates continue to fall, more and more insurers in the admitted market are competing for business that they had left to surplus lines insurers in the hard market. Previously hard-to-place catastrophe...

Lloyd's reports first-half profits.(International News)(Lloyd's of London)(Financial report)(Brief article)
October 1, 2007... Byline: MATT SCROGGINS LONDON-Lloyd's of London posted a pretax profit of 1.81 billion pounds ($3.65 billion) for the first half of 2007, up 33.8% over its marketwide profit for the prior-year period. Lloyd's attributed the increase to...

Clinton reform plan shows softer touch.(Opinions)(political aspects of health care reform)(Brief article)
October 1, 2007... HAS HILLARY CLINTON CHANGED her tune on health care reform? That's an appropriate question to ask in the wake of the New York Democratic senator's release of a health care reform plan last month. Sen. Clinton's plan has attracted much...

D&O claims to increase in Canada after changes to securities laws; Frequency, severity expected to rise for many firms.(RIMS Canada Conference)
October 1, 2007... Byline: GLORIA GONZALEZ HALIFAX, Nova Scotia-Companies with shares traded only on Canadian stock exchanges face a rising number of directors and officers liability claims due to amended securities laws and investor losses, insurance...

Increase in D&O claims expected.(RIMS Canada Conference)(Imax Corp. faces class action lawsuits)
October 1, 2007... Byline: Gloria Gonzalez Directors and officers liability insurers in Canada are preparing for increased claims under Ontario's amended securities law amid the recent filing of several lawsuits. A sharp rise in securities claims was...

Few states shield drugs from liability.(News)(legal liability of pharmaceutical industry)(Brief article)
October 1, 2007... Byline: Dave Lenckus Aside from Michigan, states with pharmaceutical product liability shields are Arizona, New Jersey, Ohio, Oregon, Texas and Utah, according to corporate attorney Cary Silverman, an associate at Shook, Hardy & Bacon...

Tide turning for surplus lines: Market softens for hard-to-place exposures; Even catastrophe-prone property risks catch a break from insurers eager to write business.(Spotlight: Surplus Lines)
October 1, 2007... Byline: ROBERTO CENICEROS Surplus lines insurers say they expect moderate growth for the rest of 2007 as they introduce measures to maintain U.S. business despite softening prices. Even pricing for property coverage in...

GM puts brakes on retiree health benefits; Automaker, union embrace VEBA enabling GM to offload $50 billion in obligations.(News )(agreements between General Motors Corp. and United Auto Workers Federal Credit Union)
October 1, 2007... Byline: JERRY GEISEL DETROIT-A tentative contract agreement between General Motors Corp. and the United Auto Workers union that will allow GM to offload its more than $50 billion retiree health obligation is likely to increase the interest...

Weight-loss contest motivates workers to improve health; Spirit of fun, prizes used by employer to encourage wellness.(ISCEBS Symposium)(management of welness programs)
October 1, 2007... Byline: ROBERTO CENICEROS SEATTLE-BGF Industries Inc. employees who joined the company's weight loss contest called their teams the Jelly Bellies, Phat Chance, Pudgie Bunch, Transformers and other names. They picked the monikers in the...

In brief.(News)(industry sales and revenue of property and casualty insurance industry)(reports of European Union. European Commission)(analysis of food safety)(Financial report)
October 1, 2007... P/C income rises but premiums flat The U.S. property/casualty insurers reported a 10.7% increase in profits, to $32.6 billion, for the first half of 2007, according to the Insurance Services Office Inc. and the Property Casualty Insurers...

Care quality, expenses key to reform efforts.(Commentary)(political aspects of health care reform)
October 1, 2007... Byline: Regis Coccia I'm no political strategist, but it doesn't take a genius to grasp that health care is going to be a defining issue of the 2008 presidential election. Other than withdrawing troops from Iraq, health care questions...

Products & services.(services of Darwin Professional Underwriters Inc.)(services of Hanover Insurance Co.)(services of drugstore.com Inc.)
October 1, 2007... Darwin introduces media liability coverage FARMINGTON, Conn.-Darwin Professional Underwriters Inc. has introduced new professional liability coverage for media entities. Darwin's media product incorporates features that include...

More workers get the e-boot as employers downsize.(End Page)(reports of employee layoffs)(Brief article)
October 1, 2007... Employees have a lot more to worry about than just spam when opening their work e-mail, according to a survey. About 10% of U.S. workers say their company has used e-mail as a virtual pink slip to fire or lay off employees, and 17% say...

Capacity not available for megacatastrophes.(RIMS Canada Conference)(influence of hurricanes on insurance industry)
October 1, 2007... Byline: GLORIA GONZALEZ HALIFAX, Nova Scotia-The insurance industry has withstood catastrophic events such as the hurricanes of 2004 and 2005, but it does not have sufficient capacity to withstand a megacatastrophe, such as a tsunami...

Overtime suit puts canine cop in the dog house.(End Page)(cases of detection dog)(Brief article)
October 1, 2007... Police in McAlester, Okla., undoubtedly will continue trying to sniff out illegal drugs, but officials have decided to do so without the aid of Bosco, the department's sole drug dog. Police Chief Jim Lyles suspended the department's canine...

Increased interest in recall coverage linked to recent high-profile events; Brokers see rise in demand, but most companies still go uncovered.(Spotlight: Surplus Lines)
October 1, 2007... Byline: DAVE LENCKUS A string of high-profile recalls of tainted and defective goods over the past year has heightened interest in product recall insurance but not to the extent that brokers see it as the next sure runaway success for the...

Don't let fight for taxes cloud Bermuda's value.(Opinions)(taxation of insurance industry)(Brief article)
October 1, 2007... SIX YEARS on from an attempt to close the so-called Bermuda tax loophole, several U.S. insurers are once again urging Congress to find a way to increase tax revenue from Bermuda-based insurers and reinsurers. Then, as now, the rhetoric used...

RICO charges against industry dismissed.(News)(Racketeer Influenced and Corrupt Organizations Act)
October 1, 2007... Byline: SALLY ROBERTS TRENTON, N.J.-A New Jersey federal judge on Friday threw out the remaining racketeering claims pending against several dozen insurers and brokers in a class action lawsuit stemming from industrywide investigations...

Forty years of BI.(Business Insurance Corp.)(International Business Machines Corp.)(reports of Department of the Treasury)(Brief article)
October 1, 2007... On Oct. 8, 2007, Business Insurance will celebrate its 40th anniversary of publication. Each week until then, BI will offer a peek at news we reported during the past four decades. Aug. 14, 2006: A federal appeals court ruling that IBM...

On the web.
October 1, 2007... ONLINE EXECUTIVE FORUM tm Comp webinar focuses on terrorism risk Business Insurance presents "Workers Compensation: Protecting People in the Age of Terrorism Risk," a live online discussion, at 11 a.m. EST Nov. 14. Join BI Senior...

Online Poll at www.businessinsurance.com.(Opinions)
October 1, 2007... What do you think will be the impact on your group health care plan costs if Congress passes legislation mandating that employers cover mental health care expenses the same as other medical expenses? 0%: Will lower costs 75%: Not much...

How to submit a Perspective article to Business Insurance.(Perspective)
October 1, 2007... Business Insurance accepts articles from experts in commercial insurance, risk management and employee benefits management for publication in its Perspectives section. The section is intended to be a forum for readers' opinions and a forum...

Regulatory fines at the heart of New Mexico corruption case.(cases of Joseph Ruiz)
October 1, 2007... Byline: Meg Fletcher ALBUQUERQUE, N.M.-Eleven insurance-related companies say they are cooperating with authorities in New Mexico to investigate and prosecute an alleged extortion scam involving a former state insurance department...

Data communication requires standards.
October 1, 2007... Byline: Gregory A. Maciag Think back to those great old Westerns with John Wayne or Gary Cooper and how dangerous it was to get the mail through. A Pony Express rider ran the risk of being killed by bandits trying to deliver a message. ...

Three questions.(officials and employees of Marsh USA Inc.)
October 1, 2007... As forces ranging from imminent baby boomer retirements to the Internet bring change to the insurance industry, one of the industry's premier professional organizations, the CPCU Society, is recognizing the need to change with it. During the...

ChoicePoint enhances fraud identification tool.(product introduction of ChoicePoint Inc.)(Brief article)
October 1, 2007... ALPHARETTA, Ga.-Through its Claims Solutions group, ChoicePoint Inc. has introduced FraudFocus INTERCEPT, a new version of the company's FraudFocus predictive modeling system based on standard industry claims submissions. Alpharetta,...

Chubb, Vietnamese insurer to offer specialty lines.(partnership between Chubb Corp. and Bao Minh)(Brief article)
October 1, 2007... WARREN, N.J.-Through its Federal Insurance Co. (Labuan) subsidiary, the Chubb Corp. is partnering with Vietnamese insurer Bao Minh to offer specialty liability insurance products. As Bao Minh looks to provide a variety of specialty...

Zurich's new offering aimed toward midsize technology companies.(Zurich North America Insurance Co.)(Brief article)
October 1, 2007... SCHAUMBURG, Ill.-Zurich North America is targeting the needs of technology customers with a range of coverage designed specifically for midsize businesses creating and building technology products. Zurich is offering new coverages that are...

Moody's Outlook finds Bermuda insurance market `generally robust'.(Brief article)
October 1, 2007... NEW YORK-The outlook for the Bermuda insurance market is stable, reflecting insurers' and reinsurers' "generally robust balance sheets, strong operating profits generated over the past 18 months and enhanced risk management practices,''...

Rebranded Mercer L.L.C. touts expanded range of services.(Mercer Human Resource Consulting L.L.C.)(Brief article)
October 1, 2007... NEW YORK-Mercer Human Resource Consulting will now operate under the simplified brand name of Mercer L.L.C. The New York-based subsidiary of Marsh & McLennan Cos. Inc. said the global brand initiative addresses the fact that-with the...

EQECAT updates storm modeling software.(product introduction of EQECAT Inc.)(Brief article)
October 1, 2007... OAKLAND, Calif.-Risk modeling firm EQECAT Inc. has released a new version of its EQECAT catastrophe management software that includes the firm's next-generation model for Atlantic basin hurricanes. The new 3.10 release provides optional...

In focus.(management of insurance industry)
October 1, 2007... When they need financial advice, help with a merger or acquisition or capital to fund business expansion, insurance industry companies frequently employ the services of investment bankers. With that in mind, a number of investment banks have...

Carvill and TFS Energy set up insurance derivatives brokerage.(Carvill Group Ltd. and Tradition Financial Services Energy L.L.C.)(Brief article)
October 1, 2007... STAMFORD, Conn.-Specialty reinsurance intermediary Carvill Group Ltd. has entered into an agreement with Tradition Financial Services Energy L.L.C. to form an insurance derivatives brokerage company. With offices around the world, TFS...

FirstBest, Valen joint venture aims to enhance accuracy of underwriting.(FirstBest Systems Inc. and Valen Technologies)(Brief article)
October 1, 2007... LEXINGTON, Mass.-Underwriting management systems provider FirstBest Systems Inc. has entered a strategic technology alliance with Valen Technologies, a Denver-based firm specializing in predictive analytics for the insurance industry. ...

Ethical practices are key to industry's success.(ethical aspects of CPCU Society)
October 1, 2007... Byline: Rodd Zolkos The CPCU Society held its annual meeting in Honolulu last month, drawing approximately 7,000 holders of the Chartered Property Casualty Underwriter designation. HONOLULU-With the insurance industry based on trust...

Plan now for successful perpetuation.
October 1, 2007... Byline: Curt Anderson Are you a baby boomer-someone who was born between 1946 and 1964? Then you need to begin thinking about the perpetuation of your independent agency right now. The aging of America's baby boomers means there will be...

Industry support needed for bills to pass Congress.(political aspects of insurance industry)
October 1, 2007... Byline: Mark A. Hofmann WASHINGTON-The insurance industry needs to "cherry pick'' among congressional initiatives impacting insurance if it wants to have any success on Capitol Hill this session, an Alabama state representative told a...

E-insurance makes a comeback.(Conference notes)
October 1, 2007... Byline: Rodd Zolkos It was almost as though you could hear the sound of a giant page turning for the insurance industry last month in Dallas. The event was the first eInsurance Symposium, and among the approximately 350 attendees...

On the move.(Benjamin Gentsch appointed as CEO of SCOR Global P&C)(Craig A. Merdian appointed as vice president and chief financial officer of New York Life Insurance Co.)(Michael Miller appointed as chief underwriting officer of Max Specialty Insurance Co)
October 1, 2007... Benjamin Gentsch, deputy chief executive officer of SCOR Global P&C, has been named to the additional post of CEO and chairman of the executive committee of SCOR Holding (Switzerland) Ltd., the former Converium Holding Ltd. operation. The move...

The quote.(Industry News)
October 1, 2007... "While standards bring a common foundation and understanding, we'll retain those things that make us unique.' -Gregory A. Maciag, President and CEO, ACORD

Private equity deals slow to a drip.
October 1, 2007... Byline: Meg Fletcher The feverish pace of private equity buyouts of U.S. insurance brokerages may be slowing due to a contraction of credit from this summer's subprime mortgage market meltdown, sources say. Among the first to feel the...

Risk appetite sets dealmaking table; M&A activity spurs increased use of transactional cover products.
October 1, 2007... Byline: Meg Fletcher Dealmakers seeking to optimize a corporation's value through a merger or acquisition often are sensitive to insurance-related issues and open to new solutions, insurers and brokers say. Specifically, the buyers and...

Beyond the vault; Banks use cross-selling opportunities to boost insurance business.
October 1, 2007... Byline: Rodd Zolkos For many banks and other financial services firms, insurance is increasingly recognized as business rich in potential returns. In insurance, many of those banks and financial service firms have found opportunities...

E.C. targets subscription market; Commission says arrangements might lead to insurer collusion.(European Union. European Commission)
October 8, 2007... Byline: SARAH VEYSEY BRUSSELS, Belgium-Findings by the European Commission that some subscription-based insurance arrangements might encourage collusion among insurers drew a wary reaction from European risk managers, insurers and brokers...

UAW health care deal good for all involved.(Opinions)(General Motors Corp.)(United Automobile Workers)(Brief article)
October 8, 2007... The United Auto Workers union's new contract with General Motors Corp. finally recognizes a problematic burden that many employers face. In our view, the most significant part of the agreement involves retiree health care benefits. Under...

BI has witnessed 40 years of an industry's evolution.(Business Insurance Corp.)
October 8, 2007... Byline: Regis J. Coccia In the 40 years since Business Insurance began publishing, we've devoted a lot of time and ink to chronicling change. How many issues have we produced since our first one in 1967? Give or take a few, I estimate...

Captive conference draws 400.(News)(Conference news)
October 8, 2007... Byline: Jerry Geisel SOUTHAMPTON, Bermuda-More than 400 people attended the 2007 Bermuda Captive Conference held Sept. 16-19 in Southampton, Bermuda. Topics covered during the various sessions included the role of captives in the soft...

Defined benefit plans on the ropes, but show signs of small comeback; After years of uncertainty, cash balance design growing in popularity.(Dow Chemical Co. )
October 8, 2007... Byline: JERRY GEISEL Dow Chemical Co. bucked a trend in July when it announced that new employees would be enrolled in a cash balance pension plan instead of a final average pay plan starting next year. As recently as 25 years ago, a...

Ravens of recession: Flying here?(Incurred but not Reported)(Column)
October 8, 2007... Byline: Gordon Stewart This issue marks the first column of Gordon Stewart, former president of the Insurance Information Institute. Mr. Stewart will write a periodic column in Business Insurance about the intersection of the insurance...

Consumer-driven health care debated; Employer, insurer adoption rates of CDHPs fall short of expectations.(News)(consumer-driven health care program)
October 8, 2007... Byline: JOANNE WOJCIK WASHINGTON-Is consumer-driven health care just getting started or is it already on its way out? The answer depends on whom you ask. Both perspectives were presented last month at the National Consumer Driven...

iPhone price cut makes N.Y. woman iRate.(End Page)(Apple Inc.)(Brief article)
October 8, 2007... Looks like someone else is trying to take a bite out of the big Apple. Apple Inc., that is. A New York woman is now suing the makers of the iPhone after the company lowered the price of their latest gadget by $200 within two months of the...

Risk retention groups criticize overzealous states; Some back penalties for violating the Liability Risk Retention Act while others favor creating a federal regulator.(News)
October 8, 2007... Byline: MARK A. HOFMANN WASHINGTON-The Liability Risk Retention Act should be amended to punish states that ignore it by subjecting risk retention groups to abusive and illegal regulation, according to some state regulators. Under...

Summit draws 300.(News)
October 8, 2007... Byline: Joanne Wojcik WASHINGTON-Rep. Pete Stark, D-Calif., chairman of the House Ways and Means Health Subcommittee, was among featured speakers at the National Consumer Driven Healthcare Summit, at the Hyatt Regency Capitol Hill in...

WellPoint separates commercial, consumer; Revamp extends to the executive ranks.(News)
October 8, 2007... Byline: GLORIA GONZALEZ INDIANAPOLIS-WellPoint Inc.'s decision to realign its business operations and make numerous executive-level changes is not a cause for concern for employers, analysts say. The Indianapolis-based health insurer...

Market moves.(Rockhill Holding Co.)(Hanover Insurance Group Inc.)
October 8, 2007... Rockhill to pay $67.6M for RTW in merger MINNEAPOLIS-Kansas City, Mo.-based Rockhill Holding Co. and Minneapolis-based RTW Inc. have agreed to merge in a deal under which Rockhill is to pay $67.6 million in cash for all outstanding RTW...

Kanjorski to continue insurance hearings.(News)(Paul Kanjorski)
October 8, 2007... Byline: MARK A. HOFMANN WASHINGTON-The head of the House panel charged with insurance matters intends to continue a series of hearings on insurance regulatory matters throughout the current Congress. Rep. Paul Kanjorski, D-Pa.-the...

Building on a vision of a broker; Founder's belief in value of intermediaries shapes development of industry giant.(Forty Years of BI)(Company overview)
October 8, 2007... Byline: REGIS COCCIA When people speak of Aon Corp. founder Patrick G. Ryan, a word many use is "vision.'' Aon's remarkable growth from a tiny managing general agency in 1964 into a global professional services company reflects Mr....

The enduring house that 'Hank' built; Despite bitter breakup, visionary chairman made AIG into a global powerhouse.(Forty Years of BI)(American International Group Inc.)(Company overview)
October 8, 2007... Byline: DOUGLAS McLEOD Maurice R. Greenberg's 2005 departure from American International Group Inc. may have tarnished his reputation, but it has not obscured his achievements in nearly 40 years at the insurer's helm. Mr. Greenberg,...