Business Insurance articles from September 2007

Business Insurance archives from September 2007

Three questions.(Zurich Financial Services' mergers and acquisitions unit )
September 1, 2007... Zurich Financial Services Inc. recently launched a mergers and acquisitions unit to help companies deal with risks associated with M&A transactions. The unit's New York-based office is up and running, expansion of the unit's services into...

Good governance from bad press.(First Word)(Sarbanes-Oxley Act of 2002)
September 1, 2007... Byline: Rodd Zolkos You may not have gone out of your way to mark the occasion, but a significant milestone passed for American business this summer, the fifth anniversary of the Sarbanes-Oxley Act. No doubt you remember the act, more...

Adjusters meet to address skills shortage.(Industry News)(Brief article)
September 1, 2007... MADISON, Wis.-Some 62 claims adjusters from 26 insurance companies participated in a recent casualty claims seminar intended to help address a projected shortage of experienced claims adjusters. Held this summer in Madison, Wis., the event...

Insurance industry drill to simulate flu pandemic.(Industry News)(Brief article)
September 1, 2007... WASHINGTON-Insurance industry businesses around the country are expected to join other financial services companies in participating in an exercise aimed at evaluating U.S. financial services companies' readiness to deal with the effects of a...

Most P/C insurers avoid subprime volatility: Moody's.(Industry News)(property and casualty )(Brief article)
September 1, 2007... NEW YORK-U.S. property/casualty insurers have only limited exposure to the troubled subprime mortgage sector, according to a report from Moody's Investors Service Inc. New York-based Moody's said the "vast majority'' of U.S. insurers have...

The song of solvency; The new regulatory regime of the E.U. is not meant to be Fortress Europe.(Cover Focus: Regulation & Compliance)
September 1, 2007... Byline: Rodd Zolkos The new regulatory regime of the E.U. is not meant to be Fortress Europe The Solvency II insurer risk-based capital regime being advanced in the European Union is being hailed by proponents as holding the potential...

On the move.(New York Life Insurance Co. appointed Theodore A. Mathas)(Property Casualty Insurers Association of America appointed David A. Sampson )(Scottish Re Group Ltd. appointed George Zippel )
September 1, 2007... Theodore A. Mathas has been named president of New York Life Insurance Co. Mr. Mathas will also continue in his prior capacity as chief operating officer of the New York-based company. As president, he replaces Frederick J. Sievert, who...

Serve and collect? Some cash-strapped cities are billing insurance companies for emergency services to provide new revenue.(Feature: Trends)
September 1, 2007... Byline: Meg Fletcher Missouri's adoption of a law banning local law enforcement agencies from charging fees for responding to motor vehicle accidents is a small step toward outlawing a controversial practice that is a growing concern for...

RMS, Insight forge services partnership.(Industry News)(Risk Management Solutions Inc.)(Insight Catastrophe Solutions L.L.C. )(Brief article)
September 1, 2007... NEWARK, Calif.-Property/casualty risk management and underwriting services firm Insight Catastrophe Solutions L.L.C. and risk modeling firm Risk Management Solutions Inc. have entered into a partnership to provide underwriting support to...

Allianz inks multiyear pact for tech support with IBM.(Industry News)(Allianz of America Corp.'s outsourcing agreement with International Business Machines Corp.)(Brief article)
September 1, 2007... NOVATO, Calif.-Allianz of America, the parent company of Fireman's Fund Insurance Co. and Allianz Life Insurance Co. of North America, has signed a multiyear outsourcing agreement with IBM Corp. The $330 million, 71/2-year deal is expected...

Risk management takes center stage in discussions of Solvency II.(Feature: Gatherings)
September 1, 2007... Byline: Rodd Zolkos BERLIN-With the European Union's Solvency II regulatory regime factoring heavily in many discussions during this year's annual International Insurance Society meeting, and companies' efforts to address risk being a key...

City of Hope council awards Chubb COO Spirit of Life.(Industry News)(chief operating officer Thomas F. Motamed of Chubb Corp.)(City of Hope's National Insurance Industry Council)(Brief article)
September 1, 2007... LOS ANGELES-Thomas F. Motamed, Chubb Corp.'s vice chairman and chief operating officer, has been named the recipient of this year's Spirit of Life award by members of City of Hope's National Insurance Industry Council. Mr. Motamed will be...

Cyber risks often underinsured.(Last Word)
September 1, 2007... Byline: Inga Goddijn Computer hacking has gone global. American businesses are facing increased risks from computer system breaches that can come any time from any place in the world. The danger is not likely to let up because foreign...

Many benefits can be found by just thinking differently.(Tech Focus)(Viewpoint essay)
September 1, 2007... Byline: Wendy Gibson Do you have a favorite quote that you pull out when you are trying to solve a business problem or implement change? I do. It's Albert Einstein's, "You can't solve a problem from the same level of thinking that created...

20 years and counting; Liquidation drags on through 'Failed Promises' and lessons learned.(Cover Focus: Regulation & Compliance)
September 1, 2007... Byline: Meg Fletcher The 20-year saga of the Integrity Insurance Co. liquidation continues this fall when the New Jersey Supreme Court considers the legality of a distribution plan for policyholders with contingent claims. It will be...

BOTTOM LINE.(Cover Focus: Regulation & Compliance)(Integrity Insurance Company Inc.'s assets)(Brief article)
September 1, 2007... Integrity Insurance Co.'s liquidation involves hundreds of millions of dollars. Declared insolvent: 1987 Total estate assets, including investment income: $972 million Total assets recovered: $689.75 million Total unpaid valid...

THE MECHANICS OF MODERNIZATION.(Cover Focus: Regulation & Compliance)(insurance law)
September 1, 2007... Byline: Meg Fletcher Federal and state lawmakers are considering wide-ranging proposals that would change the marketplace for insurers and producers, industry experts say. "Insurance is becoming more and more relevant at the national...

Metal-enhanced hits banned in N.Y. schools.(Brief article)
September 3, 2007... If sports equipment manufacturers and high school baseball players didn't see this hit coming, perhaps the judge was swinging a metal gavel. A federal judge last week upheld a New York ordinance that bars metal bats in all high school...

Buyer wins fight over surge claim; Wind-driven water damage not excluded.(Factory Mutual Insurance Co. and Northrop Grumman Corp.)
September 3, 2007... Byline: ROBERTO CENICEROS LOS ANGELES-Wind-driven storm surge losses caused by Hurricane Katrina are covered under an excess property policy that Factory Mutual Insurance Co. sold to Northrop Grumman Corp., a federal court in Los Angeles...

Are still-fuzzy payments a return to status quo?
September 3, 2007... Byline: Regis Coccia The world's three largest brokers recently said they have reached agreements with regulators permitting them to accept payments from underwriters related to placing business. If brokers that agreed not to accept...

Louisiana develops waiver.(Federal Emergency Management Agency)
September 3, 2007... Byline: Dave Lenckus Risk managers in Louisiana may not have as big a problem in obtaining financial assistance after a flood from the Federal Emergency Management Agency as risk managers elsewhere in the United States. Because of the...

FEMA policy worries public entities, nonprofits; Lack of commercial flood coverage affects availability of aid.(Federal Emergency Management Agency)
September 3, 2007... Byline: DAVE LENCKUS WASHINGTON-Mixed signals that a federal official sent when rescinding a policy that would have drastically cut government financial aid to public entities and nonprofit organizations after natural catastrophes are...

Comings & goings.(Zurich Financial Services)(XL Capital Ltd.)(Hartford Financial Services Group Inc.)
September 3, 2007... INSURERS: Ann Haugh has been named chief operating officer of Zurich Financial Services Group's global corporate unit in North America. Ms. Haugh, who will be based in New York, most recently was executive vp of Zurich's mergers and...

UP CLOSE Frank Hernandez.(officials and employees of BMS Intermediaries Inc.)(Brief article)
September 3, 2007... NEW JOB TITLE: Senior vp, marine and energy team, at BMS Intermediaries Inc. in Philadelphia. START DATE: July 23 PREVIOUS POSITION: Executive vp, global marine and energy, at Towers Perrin. REASON FOR THE SWITCH: The BMS...

Brazil slowly opens the door to international reinsurers; Commercial insurance buyers may see improved pricing, broader array of products as competition enters the market.(Spotlight: Reinsurance: International Markets)
September 3, 2007... Byline: GAVIN SOUTER RIO DE JANEIRO, Brazil-With the long-awaited opening of the reinsurance market in Brazil expected next year, commercial insurance buyers in the country will see a more competitive primary market, observers say. ...

Reinsurers vow to maintain rates after catastrophes strike Europe; Further softening not justified despite first-half profits, executives say.(Spotlight: Reinsurance: International Markets)
September 3, 2007... Byline: ADRIAN LADBURY Healthy profits for large European reinsurers in the first half of 2007 may not translate in to broader and cheaper coverage for reinsurance buyers at year-end renewals, reinsurance executives say. Although...

False starts preceded opening of Brazilian reinsurance market.(Spotlight: Reinsurance: International Markets)
September 3, 2007... Byline: GAVIN SOUTER RIO DE JANEIRO, Brazil-Of all the qualities that international reinsurers interested in accessing the Brazilian market have had to show during the past 15 years, patience has perhaps been the most important. Since...

END OF A MONOPOLY.(laws and rules of insurance industry)(Brief article)
September 3, 2007... Brazil's Complementary Law No. 126, which was approved in January, outlines plans to open the nation's reinsurance market that has been controlled by monopoly reinsurer IRB-Brasil Resseguros S.A. since 1939. Some regulations clarifying how the...

World of capital; Europe's Solvency II expands resources to meet capital requirements.(Spotlight: Reinsurance: International Markets)
September 3, 2007... Byline: MICHAEL BRADFORD Europe's reworking of insurance regulations under the Solvency II framework directive has raised the profile of securitization as a risk mitigation tool, but that does not mean insurers will abandon traditional...

Catastrophe bonds could reach $6B; Sidecars, however, used far less often so far this year vs. last year.(Spotlight: Reinsurance: International Markets)
September 3, 2007... Byline: MICHAEL BRADFORD Soft reinsurance prices are not tempting enough to cool interest in insurance-linked securitizations, as this year already is a record-setter for catastrophe bonds. Insurers are expected to make 2007 a...

Conduct a thorough risk assessment; Holistic approach essential for insurers to judge profit potential and set sustainable rates.
September 3, 2007... Byline: John J. Kollar Insurance company risk managers are confronted today with the challenges of identifying, assessing, prioritizing, controlling, financing and monitoring risks across their enterprise. These include natural hazards,...

Insurers face wave of Katrina lawsuits; Plaintiffs rush to beat legal time bar.(News)
September 3, 2007... Byline: MARK A. HOFMANN NEW ORLEANS-Two years after Hurricane Katrina inundated New Orleans and much of the Gulf Coast, another flood-of insurance-related lawsuits-hit Louisiana last week. That's because Aug. 30 was the last day...

IRS plan would limit lump-sum payments in underfunded DB plans; Well-funded plans would be required to get an actuarial certification.(News)(United States. Internal Revenue Service)(defined benefit)
September 3, 2007... Byline: JUDY GREENWALD WASHINGTON-Plan sponsors with underfunded defined benefit plans will have limits on their lump-sum distributions under a measure included in a proposed regulation issued by the Internal Revenue Service last week. ...

KEY OBJECTIVES.(International News)(Confederation of Australian Motor Sport)(Brief article)
September 3, 2007... The Confederation of Australian Motor Sport said that its risk management effort has four key objectives. They are: * Providing a tool to reduce the likelihood of significant incidents. * Providing a demonstration of logical systematic...

Lessons to be learned from hurricane claims.(Opinions)(Brief article)
September 3, 2007... HURRICANE CLAIM DISPUTES have been in the news a lot in the past two weeks, providing useful lessons about risk and recovery. Consider these items: Defense contractor Northrop Grumman Corp. won summary judgment in its coverage dispute over...

Ruling favors 'nonparty' reinsurers; Calif. upholds limits on pretrial discovery during settlement talks.(News)(Catholic Mutual Relief Society)(Brief article)
September 3, 2007... Byline: ROBERTO CENICEROS SAN FRANCISCO-Victims of alleged child abuse by priests cannot delve into the Catholic Mutual Relief Society's reinsurance arrangements during discovery as part of pretrial settlement negotiations, California's...

200 years of disaster aid.(News)(Brief article)
September 3, 2007... Byline: Dave Lenckus The Federal Emergency Management Agency and the financial assistance it provides can be traced back to 1803, when Congress passed what is thought to be the first federal disaster legislation. The act provided financial...

Ex-insurance official pleads not guilty; Allegations cite three years of fraud, extortion.(News)(Joseph Ruiz)
September 3, 2007... Byline: MEG FLETCHER ALBUQUERQUE, N.M.-Joseph Ruiz, a former deputy superintendent of insurance in New Mexico, pleaded not guilty at his arraignment last week to federal charges that he allegedly solicited charitable contributions from...

Judge orders trial for two former comp insurer execs.(News)(case against Workers Compensation Insurance's Sandy Blunt and Romi Leingang)
September 3, 2007... Byline: ROBERTO CENICEROS BISMARCK, N.D.-Prosecutors have enough evidence to put on trial two top officials at North Dakota's monopoly workers compensation insurer over charges in a conspiracy case, a judge ruled last week. Sandy...

Australia motor sports authority revamping risk management rules.(International News)(Confederation of Australian Motor Sport)(Brief article)
September 3, 2007... Byline: MICHAEL BRADFORD CAUFIELD EAST, Australia-Motor sports risk management is set for an overhaul in Australia. The Confederation of Australian Motor Sport said frustration over the organization's risk management requirements has...

IRS intractable on plan conversion issue.(Opinions)(Internal Revenue Service)(Brief article)
September 3, 2007... IT ISN'T OFTEN that business groups and labor organizations agree on an employee benefit issue. So when they do agree, as is the case now with a cash balance pension plan conversion issue, top federal officials should take note and...

Gridiron fantasies hurt employers.(End Page)(Brief article)
September 3, 2007... Corporate America is in fantasyland-literally-if employers believe their workers are keeping to their tasks for the entire workday-especially during football season, according to a new study. Chicago-based workplace consultant Challenger,...

Ohio sues Marsh, insurers over price fixing; State repeats several allegations outlined in long-settled Spitzer case against brokerage.(News)(Marsh and McLennan Companies Inc.)
September 3, 2007... Byline: RUPAL PAREKH CLEVELAND-More than two years after Marsh & McLennan Cos. Inc. reached an $850 million settlement of alleged anticompetitive practices, state officials are still going after the broker over those past practices. ...

Tourist finds convenience of iPhone comes with steep price.(End Page)(case against Apple Inc.)(Brief article)
September 3, 2007... A New York man who unexpectedly logged $2,000 in iPhone data roaming charges during a week in Mexico is suing the trendy phone's manufacturer. The man reportedly filed a lawsuit requesting class-action status and seeking to bar Apple Inc....

In brief.(News)(reinsurance industry earnings)(William S. Lerach is retiring from Coughlin Stoia Geller Rudman and Robbins L.L.P)(Accident Fund Co. is acquiring CWI Holdings Inc.)
September 3, 2007... Reinsurer results improve in first half U.S. reinsurers reported a 90% combined ratio for the first half of 2007, compared with 96.5% reported by a comparable group for the same period last year, according to the Reinsurance Assn. of...

Job-based health cover falls again as costs rise; Percentage of workers covered hits six year low.(News)
September 3, 2007... Byline: SALLY ROBERTS WASHINGTON-The percentage of U.S. residents covered by employment-based health insurance declined again last year as soaring health care costs continued to erode coverage, a U.S. Census Bureau report shows. In...

HURRICANE TOLL.(News)
September 3, 2007... The top two U.S. hurricanes in claims and losses: Katrina August 2005 1.7 million claims $40.60 billion in insured damage Andrew August 1992 790,000 claims $15.50 billion in insured damage Source:...

UnitedHealth deal faces more scrutiny in Nevada; Competition concerns prompt probe by A.G.(News)(UnitedHealth Group Inc.'s acquisition of Sierra Health Services Inc.)(attorney general)
September 3, 2007... Byline: GLORIA GONZALEZ CARSON CITY, Nev.-Nevada Gov. Jim Gibbons last week asked the state's attorney general to examine UnitedHealth Group Inc.'s proposed acquisition of Sierra Health Services Inc., a day after the transaction received...

Insurer confesses to spying on churchgoers.(End Page)(case against Progressive Northern Insurance Co. )(Brief article)
September 3, 2007... While troubled souls in Stockbridge, Ga., bared details about their personal lives, two participants in a Southside Christian Fellowship Church support group should have confessed that they were actually private investigators hired by an...

APRA bans former executive.(International News)(Australia. Prudential Regulation Authority)(Paul Williams)(Brief article)
September 3, 2007... Byline: SARAH VEYSEY SYDNEY, Australia-The Australian Prudential Regulation Authority has disqualified Paul Williams from being a director or senior manager of a general insurer. Mr. Williams was deputy managing director of New Cap...

Mandatory coverage aids Saudi market jump.(International News)(Brief article)
September 3, 2007... Byline: MICHAEL BRADFORD RIYADH, Saudi Arabia-Saudi Arabia's insurance market saw significant growth in 2006 as gross premiums surged 35% to 6.9 billion riyals ($1.84 billion). Favorable economic conditions, along with the introduction...

Transfers of pension obligations draw the interest of banks, insurers; Some see U.K. trend among plan sponsors spreading to U.S.(News)
September 3, 2007... Byline: SUSAN KELLY If market volatility is giving you a pension fund migraine, consider this option: Transfer the whole thing to a financial institution. That's what some U.K. companies have done in the past few years, and industry...

Lloyd's syndicates trim capacity in response to ongoing soft pricing; Property cat share falls as competition rises in Bermuda, Europe.(Spotlight: Reinsurance: International Markets)(Lloyd's of London)
September 3, 2007... Byline: STUART COLLINS Several Lloyd's of London managing agents are cutting back capacity on syndicates they manage as the reinsurance market continues to soften. Those moves are a sign of underwriting discipline at Lloyd's as well...

On the web.
September 3, 2007... New video interview with brokerage CEO Hilb Rogal & Hobbs Co. Chairman and CEO Martin L. Vaughan III discusses his company's core strengths and how it defines and delivers value for it clients in this new video offering added to the...

Forty years of BI.(Forty Year of BI)
September 3, 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. Oct. 9, 2000: Mobile phone maker Ericsson Telecom A.B....

Online Poll at www.businessinsurance.com.(Opinions)
September 3, 2007... When will Congress give its final approval to an extension of the terrorism insurance backstop? September: 2.9% October: 2.9% November: 22.8% December: 51.4% Congress won't extend the program before Dec. 31: 20.0% ...

How to submit an article for BI's Perspective section.(Perspective)
September 3, 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...

Products & services.
September 10, 2007... Securian Dental expands its PPO product offerings EAGAN, Minn.-Securian Dental has expanded into the Oklahoma marketplace with the introduction of its new line of preferred provider organization dental benefit products. The dental benefit...

Focused on financials.(officials and employees of Frank Crystal & Co.)(Interview)
September 10, 2007... Sanford F. Crystal is executive vp at Frank Crystal & Co., a New York-based brokerage established more than 70 years ago to serve Wall Street clients. While the firm now has a wide variety of clients, risk management and insurance for financial...

Industry can't afford additional loss of trust.(cases of racketeering )(Brief article)
September 10, 2007... Insurance brokers and insurance companies should take little solace in a recent trial court ruling against plaintiffs that alleged leading industry companies violated the Sherman Antitrust Act. While the federal judge found that plaintiffs...

Risk management group forms in Czech Republic.
September 10, 2007... Byline: RICHARD MILLER PRAGUE, Czech Republic-A recently formed risk management association in the Czech Republic is getting off the ground. The Assn. of Insurance & Risk Management Experts of the Czech Republic o.s.-also known by the...

Despite widespread fires in Greece, insured commercial losses limited.(Brief article)
September 10, 2007... Byline: Michael Bradford ATHENS, Greece-Insurers are not likely to be scorched by the wildfires that have swept through parts of Greece, claiming more than 60 lives and destroying livestock, vineyards and property, much of it uninsured....

New York HMO quality report card adds New Jersey, hospital data; Local plans, facilities compared against national averages.
September 10, 2007... Byline: GLORIA GONZALEZ LAKE SUCCESS, N.Y.-New York health maintenance organizations provided equal or superior medical care to their members compared with the national average for quality performance, while their New Jersey counterparts...

Fraud ring exposed when numbers don't add up.(cases of fraud)(Brief article)
September 10, 2007... When staging a bus accident to make insurance claims for bogus injuries, it seems like a no-brainer that the number of passengers in the police report should match the number of passengers seeking medical care reimbursement. But brains...

LIST OF DEFENDANTS.(News)
September 10, 2007... Numerous insurers, reinsurers, brokerages and subsidiaries of those companies were named in a consolidated complaint that alleged antitrust violations and other claims. All Companies named, excluding various subsidiaries, were: ACE Ltd....

UnitedHealthcare, states settle claims probes.(investigation of UnitedHealth Group Inc.)
September 10, 2007... Byline: JOANNE WOJCIK MINNETONKA, Minn.-UnitedHealthcare will pay $12 million in penalties and overhaul its claims handling practices under a settlement announced last Thursday with 37 state insurance departments. Total penalties could...

Backstop could cost $8.4 billion: CBO.(Congressional Budget Office)(Congress. House. Committee on Financial Services)(Brief article)
September 10, 2007... Byline: MARK A. HOFMANN WASHINGTON-The Congressional Budget Office estimates that extending the federal terrorism insurance backstop could cost the government about $8.4 billion from 2008 through 2017, according to an estimate released...

N.J. officials arrested in insurance bribe sting.(Federal Bureau of Investigation)
September 10, 2007... Byline: DAVE LENCKUS NEWARK, N.J.-In a sting that involved setting up a bogus insurance brokerage, the FBI last Thursday arrested 11 public officials across New Jersey plus another official's top staffer for allegedly taking cash bribes to...

Class action granted against Unum.(News)
September 10, 2007... Byline: JOANNE WOJCIK CHATTANOOGA, Tenn.-A federal judge in Tennessee has granted class action status to a lawsuit that alleges Unum Group violated the Employee Retirement Income Security Act by illegally denying or terminating thousands...

In brief.(News)
September 10, 2007... CNA to pay $250M in reinsurance pact CNA Financial Corp. said it will report a $110 million aftertax loss, net of reinsurance, in connection with a settlement with Boston-based John Hancock Life Insurance Co. of a dispute involving the...

Improve risk identification by integrating swarm theory.
September 10, 2007... Byline: John J. Hampton The value of enterprise risk management rises dramatically when a central risk function coordinates the identification of risk. The coordination task is relatively simple: Create a high-tech knowledge warehouse and...

U.S. reinsurers' results expected to decline amid softening market; Combined ratio better but premiums fall in first half: RAA.(Financial report)
September 10, 2007... Byline: JUDY GREENWALD U.S. reinsurers reported strong underwriting results in the first half of 2007, but that is not expected to continue as rates remain weak, observers say. Widespread softening in property/casualty pricing...

Famous rockers are shooting stars.(reports about death of rock stars)(Brief article)
September 10, 2007... Rock and pop stars are far more likely to climb the stairway to heaven earlier than their less-famous counterparts, according to a study in the Journal of Epidemiology and Community Health. Researchers at Liverpool John Moores University...

Safety workers try exercise on virtual training ground.(Department of Energy and Department of Energy. Sandia National Laboratories)(Brief article)
September 10, 2007... Could today's video-game playing couch potato become tomorrow's crackerjack first responder? If a project undertaken by researchers at the Department of Energy's Sandia National Laboratories and the University of Southern California's...

Measure would prohibit sexual orientation bias; Bill's vague language concerns some employers.(News)
September 10, 2007... Byline: MARK A. HOFMANN WASHINGTON-Business groups are concerned that a bill designed to prevent workplace discrimination based on sexual orientation and "gender identity'' could have unintended consequences for employers. A top...

ENDA'S OBJECTIVES.(News)(Employment Non-Discrimination Act of 2007)(Brief article)
September 10, 2007... Purposes of the Employment Non- Discrimination Act of 2007: * To provide a comprehensive federal prohibition of employment discrimination on the basis of sexual orientation or gender identity. * To provide meaningful and effective...

Facultative reinsurance is misperceived.(Viewpoint essay)
September 10, 2007... Byline: William Donnell Facultative reinsurance, by its very name, implies flexibility. One is not required to buy or offer it, and it is adaptable to different conditions and different needs. Many underwriters, however, don't take...

Perception of risk tends to be irrational.(business insurance)(Viewpoint essay)
September 10, 2007... Byline: Donald J. Riggin I think it is safe to say that every major corporation in the world purchases excess insurance limits worth hundreds of millions of dollars each year. The rituals of insurance procurement adhere to the, "If we can...

Cafe owner changes habits after cycle ride.(End Page)(CIGNA Corp.'s health awareness tour)(Brief article)
September 10, 2007... A band of bicyclists peddling cross-country stopped at Walt's Cafe in Huntingdon, Pa., in 2005, convincing owner Walt DeArmitt that is was time to go on a diet. "I weighed 424 pounds,'' he recalled. Since then, he's lost nearly 200...

Pension reform law spurs sponsors to implement automatic enrollment; Changes have had significant impact in first year: Experts.(News)
September 10, 2007... Byline: JENNA GOTTLIEB After just a year on the books, the Pension Protection Act of 2006 has changed life for defined contribution plan executives. The number of defined contribution plans that have-in remarkably short order-adopted...

Center offers risk guidance.(Emerging Risk Strategies)(Marsh Center for Risk Insights )
September 10, 2007... Byline: Sally Roberts The recently launched Marsh Center for Risk Insights is a working forum of global risk experts whose mission is to help businesses better understand the risks they face today and explain the threats looming on the...

'Gender identity' demands clarification.(Opinions)(employment discrimination law)(Brief article)
September 10, 2007... Few employers Could argue with the idea that employment decisions should be made on the basis of an individual's qualifications and experience and not on factors that have no bearing on job performance. Increasingly, employers view sexual...

Low insured losses seen from latest hurricanes.(News)(Brief article)
September 10, 2007... Insured losses from Hurricane Felix are likely to be less than $200 million, according to Newark, Calif.-based Risk Management Solutions Inc. The Category 5 hurricane last week struck a sparsely populated area along the border of Honduras and...

Buyout funds running dry? Credit crunch may dampen private equity broker deals.(News)
September 10, 2007... Byline: ROBERTO CENICEROS The rash of private equity buyouts of insurance brokerage firms may slow as a result of the credit crunch driven by the subprime mortgage crisis-particularly highly leveraged deals-some observers say. And...