Best's Review articles from September 2005

Best's Review archives from September 2005

Finding a cure.(medical liability insurance)(physicians are organizing risk retention groups)(Editorial)
September 1, 2005... As medical-liability costs rise, insurers raise premiums, and observers pile blame all around, one thing is certain: Doctors have a problem. But they're not taking it lying down. From advocating for new legislation to forming risk retention...

No questions asked.(Comment)(Letter to the Editor)
September 1, 2005... While it is certainly important for the big brokers to rebuild relationships with their clients, they are only a small number of the insurance sales people operating in the insurance market. ("Restoring Trust," June 2005) The vast number of...

Basic disagreement.(Comment)(Letter to the Editor)
September 1, 2005... I just finished reading "Back to Basics" (July 2005). As a credentialing specialist for a multi-specialty 20-30 provider group, I couldn't disagree more. The "Physician Friendly" piece was particularly offensive. I know our group and...

Quote/unquote *.(Comment)(quotation from insurance industry)(Brief Article)
September 1, 2005... "There is no more glaring example today of what ails our society than the broken and deteriorating health-care system. It is being choked by rising costs that have little relation to the ability of employers and patients to pay. This system is...

Bombings in London underline insurer transit system liability.(Highlights From BestWeek)(terrorism insurance)
September 1, 2005... The July 7 bombings that killed more than 50 people on London's mass transit network underlined the vulnerability of systems that depend on open access in order to function. The great unknown in London, and major cities around the world, is...

London market committee sees threat of terror from piracy in key shipping lane.(Joint War Committee.)(marine insurance)
September 1, 2005... A spike in unusual pirate activity that could indicate a terror. ism risk prompted a key London market group to include a key international shipping lane on a list of war-risk areas. The Joint War Committee, which represents the marine...

A.M. Best Special Report: U.S.-domiciled captives reach level of stability.(By the Numbers)(insurance products)(Illustration)
September 1, 2005... Based on trends in premium volume, loss reserves and admitted assets, the captive industry has reached a level of stability as it absorbs the benefits of the recent hard market, according to A.M. Best's Special Report "Domestic Captives." ...

Meetings.(insurance industry)(Brief Article)(Calendar)
September 1, 2005... Sept. 12-14 Bermuda Captive Conference, The Fairmont Southampton, Southampton, Bermuda. Phone: (441) 236-9893 Web site: www.bermudacaptive.bm Sept. 17-21 Canada Risk and Insurance Management Society, 30th Annual RIMS...

Insurers pressured by rule, market changes.(life insurance market share)(meeting of the World Risk and Insurance Economics Congress)
September 1, 2005... Insurance executives are seeing unprecedented pressure to adjust products and business practices to a widening array of changes, from regulatory uncertainty to rising life expectancy to a volatile investment climate. A panel of insurance...

European insurers seeing advantages to reinsurance.(World Risk Congress)(Ruediger Reissaus and Achim Wambach reports)(Brief Article)
September 1, 2005... Ruediger Reissaus and Achim Wambach, economics professors at the University of Erlangen-Nuernberg in Germany, presented research on the demand for reinsurance in the German and European markets at the inaugural meeting of the World Risk and...

Expert sees Social Security, pension reform as unavoidable.(World Risk and Insurance Economics Congress meeting)(Peter A. Diamond opinions)(Brief Article)
September 1, 2005... The inability of publicly funded pension and retirement security systems to keep pace with claims is a growing problem that most advanced economies will have to deal with very soon, as costs begin to outrun revenue, according to an...

Demand for terror coverage continues to fall in Germany.(Extremus. terrorism insurance)(inaugural meeting of the World Risk and Insurance Economics Congress)(Brief Article)
September 1, 2005... An enduring mystery in the German insurance market is why German companies do not feel compelled to buy coverage for terrorism risks, despite major attacks in London this year and Madrid, Spain, last year. Speaking at the inaugural meeting...

Insurance regulators struggle with change all over the world.(World Risk Congress)(meeting of the World Risk and Insurance Economics Congress)(Brief Article)
September 1, 2005... Insurance regulators throughout the world are wrestling with fast-changing expectations about capital adequacy, while trying to keep up with efforts by international organizations to harmonize the myriad regulatory systems in place in various...

Chinese insurers hurt by growth, absence of better solvency standards.(World Risk Congress)(Liu Xiaojun paper on the solvency of China's insurance companies)(Brief Article)
September 1, 2005... Chinese insurance companies are facing serious solvency issues, following rapid growth in both the nonlife and life insurance markets that was not supported by sufficient improvements in regulatory standards. Research presented at the...

Citing disclosure concerns, NASD issues guidance on equity-indexed annuity sales.(National Association of Securities Dealers)
September 1, 2005... Citing concerns about "marketing, supervision, disclosure and investor-protection issues," the National Association of Securities Dealers, in an expected move, has issued formal guidance to registered firms that sell equity-indexed annuities....

Toronto crash may cost insurers $200 million.(La Reunion Aerienne.)(Toronto's Pearson Airport could cost a pool of insurers)(crash of an Air France passenger jet)(Brief Article)
September 1, 2005... The crash of an Air France passenger jet upon landing at Toronto's Pearson Airport could cost a pool of insurers as much as $200 million, a low figure, given that none of the 309 people aboard was killed. In a catastrophe report on the...

Court decision on scoring may spur insurers to reconsider.(Court of Appeals for the 9th Circuit.)(Fair Credit Reporting Act)(to send adverse action notices to consumers )(Brief Article)
September 1, 2005... A decision by the U.S. Ninth Circuit Court of Appeals finds insurers using credit-based insurance scoring in underwriting must issue adverse action notices to customers much more frequently than they currently do. Under the federal Fair...

American International Group Inc.(Gordon Knight president of the sales and marketing division)(Charles E. Williamson president of the WorldSource division)(John T. O'Brien executive vice president and chief operating officer )(Brief Article)
September 1, 2005... The domestic brokerage group of AMERICAN INTERNATIONAL GROUP INC. has made several executive appointments. GORDON KNIGHT has been named president of the sales and marketing division. CHARLES E. WILLIAMSON, formerly senior vice...

Genworth Financial Inc.(William C. Goings as president)(Robert Brannock as president of the payment-protection business)(Brief Article)
September 1, 2005... GENWORTH FINANCIAL INC. has appointed WILLIAM C. GOINGS as president of its U.S.-based life insurance business. It also appointed ROBERT BRANNOCK as president of the payment-protection business based in the United Kingdom. These two businesses...

Axa Financial Inc.(Jamie Shepherdson appointment)(Brief Article)
September 1, 2005... AXA FINANCIAL INC. appointed JAMIE SHEPHERDSON executive vice president to head AXA Distributors LLC, the company's wholesale distribution division. Shepherdson's appointment marks his return to the company's wholesale division, which he...

Colorado's Pinnacol taps head of N.Y. workers' comp fund as CEO.(Pinnacol Assurance. hired Kenneth J. Ross)(Brief Article)
September 1, 2005... Pinnacol Assurance, Colorado's largest workers' compensation insurer, has hired the executive director of the New York State Insurance Fund as its new president and chief executive officer. Kenneth J. Ross, who spent 10 years in executive...

AXA Distributors.(James Bowman as senior vice president)(Brief Article)
September 1, 2005... AXA DISTRIBUTORS has named JAMES BOWMAN to lead its new life division as senior vice president. In addition to broadening life product sales in the broker/dealer channel, the life division will be responsible for marketing life products to...

OneBeacon Insurance.(Mike Miller replaces John Cavoores)(Brief Article)
September 1, 2005... Just three months after he was brought in to serve as new chief operating officer of ONEBEACON INSURANCE, MIKE MILLER has been appointed the Boston-based insurer's new president and chief executive officer. He replaces JOHN CAVOORES, who...

Ohio Casualty Insurance Co.(Ralph S. Michael III as president and chief operating officer)(Brief Article)
September 1, 2005... OHIO CASUALTY INSURANCE CO. has named RALPH S. MICHAEL III president and chief operating officer. Previously, Michael was executive vice president and manager of private asset management for U.S. Bank N.A. Michael also was a director on...

Hiscox PLC.(establishing new insurance industry in united states)(Brief Article)
September 1, 2005... British insurer HISCOX PLC is establishing an office in the United States and has made the following appointments: ED DONNELLY has been named to the newly created position of president of Hiscox USA, based in Armonk, N.Y. He will lead the...

Ace European Group.(Micael Furgueson appointment)(Carl Bach resignation)(Brief Article)
September 1, 2005... ACE EUROPEAN GROUP has named MICHAEL FURGUESON to lead its business operations in the United Kingdom and Ireland. Furgueson, who currently serves as president and chief operating officer of Ace Europe, will oversee Ace's strategic expansion...

Ace Ina.(Bruce L. Kessler as executive vice president and chief underwriting officer)(Brief Article)
September 1, 2005... ACE INA has appointed BRUCE L. KESSLER executive vice president and chief underwriting officer, serving as the senior underwriting officer for Ace in the United States and Canada. A 25-year veteran of the insurance industry, Kessler was...

Ace Temptest Reinsurance Ltd.(Guy Swayne as chief underwriting officer)(Brief Article)
September 1, 2005... ACE TEMPEST REINSURANCE LTD. has named GUY SWAYNE as chief underwriting officer for the company's international business. Swayne will be responsible for the day-today management of Ace Tempest Re's international catastrophe business....

Arch Capital Group Ltd.(Donald Watson appointment)(Brief Article)
September 1, 2005... ARCH CAPITAL GROUP LTD. has named DONALD WATSON executive vice president of the financial services division of Arch Capital Services Inc. Watson will be responsible for capital management and allocation, in addition to handling investor...

Drivers team with AccuQuote.(Insurance Marketing)(AccuQuote.com)(Jason Jarrett and Billy Venturini advising to buy life insurance)(Brief Article)
September 1, 2005... ARCA RE/MAX Series race-car drivers Jason Jarrett and Billy Venturini are ACCUQUOTE.COM'S official spokesmen during September's Life Insurance Awareness Month. AccuQuote.com is a life insurance broker and quoting firm. Both drivers are...

And the winners are....(Insurance Marketing Communications Association's 2005 Showcase Awards)(State Farm Mutual Automobile Insurance Co.)(Liberty Mutual Insurance Co.)(A.M. Best Company Inc.)(Best of Show category )(Brief Article)
September 1, 2005... STATE FARM, LIBERTY MUTUAL, SAFECO, ALLSTATE AND A.M. BEST CO. won Best of Show awards at the Insurance Marketing Communications Association's 2005 Showcase Awards, held in June in San Antonio. IMCA received a record 355 entries and presented a...

The American Council of Life Insurers.(ad campaign featuring Frank Keating.)(Brief Article)
September 1, 2005... THE AMERICAN COUNCIL OF LIFE INSURERS is trying to catch Congress's attention with its new ad campaign featuring ACLI Chief Executive Officer and President Frank Keating. In the commercial Keating extols the benefits of the life insurance...

IVAs outpaced by rider.(income variable annuities)(Lincoln Financial Group's i4Life Advantage)(Brief Article)
September 1, 2005... Lincoln Financial Group's i4Life Advantage is attracting lots of money as an alternative to traditional immediate variable annuities. Investors elected the patented optional feature, which Lincoln markets as a retirement income solution, on...

Travel insurance sales top $1 billion.(property/casualty)(Brief Article)
September 1, 2005... More than 17 million Americans chose last year to protect their travel investment to the tune of more than $1 billion, according to the first Travel Insurance Market Survey, which was conducted on behalf of the U.S. Travel Insurance...

New D&O product for independents.(Property/Casualty)(Brief Article)
September 1, 2005... Hartford Financial has introduced "Priority Protection--IDL" a product that provides liability protection for independent directors. The coverage is triggered when a company is prevented by law from indemnifying its directors, fails or refuses...

Lincoln Benefit Life offers 8% GMWB.(guaranteed withdrawal benefit)(Lincoln Benefit Life Co.)(Brief Article)
September 1, 2005... Lincoln Benefit Life Co., part of the Allstate group, has updated its Consultant Solutions Flexible Premium Deferred Variable Annuity Product Suite. Among improvements is the SureIncome Withdrawal Benefit Option, which allows contract owners to...

Product's goal: protect HSA cash.(health savings account)(Colonial Life & Accident Insurance Co. introduced H.I. Secure, a hospital confinement indemnity product)(Brief Article)
September 1, 2005... Colonial Life & Accident Insurance Co., a part of the UnumProvident Corp., has developed H.I. Secure, a hospital confinement indemnity product to help employees conserve funds in their health savings accounts when the HSA's high-deductible...

Regions with highest nursing home costs.(SNAPSHOT)(Brief Article)(Illustration)
September 1, 2005... Regions With Highest Nursing Home Costs Alaska $550 NY-New York City $366 NY/NJ (Newark Edison, not NYC) $317 CT-Bridgeport $315 MA-Boston $294 CA- San Francisco $292 CT-...

Best's rating changes.(insurance industry)(Illustration)
September 1, 2005... This edition of Best's Rating Changes reflects all rating changes--assignments, changes or placed under review--that occurred for life, health and property/casualty insurers domiciled in North America, as well as international insurance...

Doctors' orders: physicians have wielded their clout to bring about medical-liability reform, but what lies beyond caps on damages?(Medical Malpractice)(Cover Story)
September 1, 2005... I'm early 2002, the medical-legal framework in Texas was strained to the limit. On one side were personal injury lawyers advertising heavily and juries returning awards in medical-malpractice lawsuits that ranged into the millions of dollars....

Top of their game: CIOs who make it to top management must create strategy and execute it.(E-Fusion 2005)(Rich Agar of GE Insurance Solutions Corp.)
September 1, 2005... When Rich Agar stepped into the position of chief information officer for GE Insurance Solutions, the biggest skill set he had to learn was how to be a more effective global communicator. That's because the position reported to the chief...

E-Distributing: WellPoint uses technology to enhance the online experience for consumers and help agents move business to the Internet.(E-Fusion 2005)(WellPoint Inc.)
September 1, 2005... Health plans can use technology in critical ways to build stronger relationships with distribution partners, according to Alan Katz, senior vice president of strategic distribution for WellPoint Inc. Katz will address several of these methods...

Targeted transformation: Piyush Singh led a makeover of RLI Corp.'s IT environment that focused on easy-to-use solutions in the areas of greatest need.(E-Fusion 2005)
September 1, 2005... When RLI Corp. set out a few years ago to better align its corporate computing capabilities with the marketplace and current technology, it found itself tied to a core vendor that wasn't as progressive as the insurer would have liked. Faced...

E-Fusion highlights 2005.(E-Fusion 2005)(technology application of insurers)(Bill Pieroni chief informative officer of Aon Corp.)(Cheat to Win biik by Robert W. MacDonald)
September 1, 2005... Monday's keynote slot features the first major appearance by Bill Pieroni in his new post as Aon's chief information officer. Pieroni formerly was IBM's point man on insurance. Winners Never Cheat... Or Do They? Robert W. MacDonald,...

Coming soon: return-of-premium term life: new rating classes and level premiums helped term life insurance grow over a decade. Return-of-premium term may be the next big advance.(Return-of-Premium Term)
September 1, 2005... For those buyers who hate the idea of paying premiums for 20 or more years on their term life-insurance products and then outliving the term, the life industry is making a new proposition: Get all of your money back. Return-of-premium term...

Term life in force, top life writers, United States--2004.(leading Writers of insurance industry)(Illustration)
September 1, 2005... Term Life In Force, Top Life Writers, United States--2004 Term life insurance provides protection for a specified period of time. It pays a benefit only if the insured's death occurs during the coverage period. ($Thousands) ...

Ordinary life average policy size and lapse ratio, top life writers, United States--2004.(leading Writers)(Illustration)
September 1, 2005... Ordinary Life Average Policy Size and Lapse Ratio, Top Life Writers, United States--2004 Rank is based on the amount of total ordinary life issued in 2004. Issued in 2004 Rank ...

Term life issued, top life writers, United States--2004.(leading Writers of insurance industry)(Illustration)
September 1, 2005... Term Life Issued, Top Life Writers, United States--2004 Term life insurance provides protection for a specified period of time. It pays a benefit only if the insured's death occurs during the coverage period. ($ Thousands) ...

Top life writers.(insurance industry)(Illustration)
September 1, 2005... Top Life Writers Group Life In Force--2004 ($ Thousands) Metropolitan Life $1,915,978,891 Prudential of America Group $1,086,139,212 UnumProvident Group $634,920,516 Hartford Life Group ...

Group life in force, top life writers, United States--2004.(Leading Writers)(Illustration)
September 1, 2005... Group Life In Force, Top Life Writers, United States--2004 Group life insurance most often is issued to a group of employees, but it may be issued to any group, provided that it is not formed for the purpose of buying insurance. ...

Group life issued, top life writers, United States--2004.(Leading Writers)(Illustration)
September 1, 2005... Group Life Issued, Top Life Writers, United States--2004 Group life insurance most often is issued to a group of employees, but it might be issued to any group, provided that it is not formed for the purpose of buying insurance. ...

Credit life in force, top life writers, United States--2004.(insurance industry )(Illustration)
September 1, 2005... Credit Life In Force, Top Life Writers, United States--2004 Credit life insurance is a group or individual life insurance contract whereby a creditor is protected if the insured dies before the indebtedness is paid in full. ($...

Credit life issued, top life writers, United States--2004.(Leading Writers)(insurance industry)(Illustration)
September 1, 2005... Credit Life Issued, Top Life Writers, United States--2004 Credit life insurance is a group or individual life insurance contract whereby a creditor is protected if the insured dies before the indebtedness is paid in full. ($...

Ordinary life in force, top life writers--2004.(insurance industry)(Illustration)
September 1, 2005... Ordinary Life In Force, Top Life Writers--2004 Ordinary life insurance may be kept in force for a person's whole life and pays a benefit upon the person's death. Premiums for the policy are paid continuously as long as the insured...

Ordinary life issued, top life writers, United States--2004.(insurance industry)(Illustration)
September 1, 2005... Ordinary Life Issued, Top Life Writers, United States--2004 Ordinary life insurance may be kept in force for a person's whole life and pays a benefit upon the person's death. Premiums for the policy are paid continuously as long as...

Total life in force, top life writers, United States--2004.(insurance industry)(Illustration)
September 1, 2005... Total Life In Force, Top Life Writers, United States--2004 Total life insurance includes ordinary life, group life, credit life and industrial life. ($ Thousands) ...

Total life issued, top life writers, United States--2004.(Leading Writers)(insurance industry)(Illustration)
September 1, 2005... Total Life Issued, Top Life Writers, United States--2004 Total life insurance includes ordinary life, group life, credit life and industrial life. ($ Thousands) ...

Emerging opportunities: since the fall of communism and rise of the World Trade Organization, small countries are showing the greatest growth in insurance markets.(Emerging Markets)
September 1, 2005... Multinational insurers have always had to make difficult decisions in their perennial quest for new markets. These days, the toughest part of that quest may be choosing from a few dozen markets that simply didn't exist five or 10 years ago. ...

New direction for disability: disability insurers are reaching out to the untapped lower-income and blue-collar sectors by educating them about the need and affordability of coverage.(Disability)
September 1, 2005... A common misconception about disability insurance is that the coverage is too expensive for widespread distribution. Disability plans are actually more affordable than most people realize, so why are so many lower-income individuals and...

HSAs and retirement plans: employers should tailor their contributions to health savings accounts and qualified retirement plans to ensure they complement rather than cannibalize each other.(Underwriting Insight)
September 1, 2005... Health savings accounts are tax-advantaged accounts designed to pay for qualified medical expenses. While many use their HSA to pay medical expenses as they occur, others are looking to the accounts as a retirement tool. This is not...

Electronic evolution: electronic records are on the way, and payors need to watch the process closely.(Selling Insight)(adopting health information technology)
September 1, 2005... For a decade or more, health policymakers have argued that the nation's health system needs to digitize its records. Yet even as most American businesses have digitized their processes to cut costs and boost efficiency, a great deal of the...

Leaving a legacy: what happens to independent insurance agencies after their owners leave depends on how well the owners have planned.(Valley Insurance Services.)(Leavitt Group.)
September 1, 2005... Harold J. Borak Sr. had owned and run an independent insurance agency in California since 1970. It wasn't until three years ago, however, that he gave any serious thought to selling his business. Effective Jan. 1, he sold his major share of...

Managing costs: a survey shows concern for the soft market as well as high salaries and rising health-care premiums.(Selling Insight)(survey by Business Management Group)(national compensation and benefit surveys)
September 1, 2005... Business Management Group has been conducting national compensation and benefit surveys for agencies since 1990, and our most recent survey reveals agents carefully managing costs while expanding services. The survey details 46 different...

Stopping the loss: a surprising mix of insurers and reinsurers are working behind the scenes to improve health care and reduce catastrophic medical claims.(Medical Stop-Loss)
September 1, 2005... Chris Brown still vividly remembers the day, 15 years ago, when the first premature baby medical claim topped $100,000. "We sat around the table wondering how we could handle claims that large," said Brown, vice president of stop-loss...

Weighing the uncertainty: with the number of bariatric surgeries rising, medical-malpractice writers are scrutinizing the procedure's risks.(Medical-Malpractice)
September 1, 2005... With the number of bariatric surgeries increasing, the impact of the procedures on the health-care system and health insurance is currently the subject of considerable debate. The spurt of bariatric procedures also is creating uncertainty for...

The outside and inside view: Terry Walker, Hartford Life's new CIO, sets his sights on enhancing the company's micro-enterprise model, strengthening its IT talent pool and using technology to help increase the company's international presence.(Hartford Life Insurance Co.)
September 1, 2005... Hartford Life Insurance Co.'s new chief information officer says his nontraditional career path will help him lead the insurer's technology advancements and its micro-enterprise model. In June, Terry Walker succeeded Vic Severino, who had...

Blue Cross Blue Shield of Nebraska.(selected HealthTrio connect to provide e-health services )(Brief Article)
September 1, 2005... Blue Cross Blue Shield of Nebraska recently selected HealthTrio connect as its single, online platform for providing e-health services to its health-care community. HealthTrio connect is a fully integrated e-health solution enabling two-way...

Prudential Retirement.(Prudential Retirement Services.)(Brief Article)
September 1, 2005... Prudential Retirement launched Signature Online, a Web-based education center that brings together resources of Prudential and the Cigna retirement business, acquired in 2004, to offer retirement plan participants an online experience designed...

St. Paul Travelers.(St. Paul Travelers Cos.)(online course provided by the Independent Insurance Agents & Brokers of America Inc.)(Brief Article)
September 1, 2005... St. Paul Travelers announced that Fair Access to Insurance, its course in insurance ethics, is now available to agents and brokers through the Big "I" Virtual University, provided by the Independent Insurance Agents & Brokers of America Inc....

Unum Provident.(UnumProvident Corp. developing web based platform called plane.biz)(Brief Article)
September 1, 2005... Unum Provident announced it's developing a new Web-based platform that will facilitate enrollment of most of the company's products in nearly any business environment. The user-friendly solution, plane.biz, will be the first truly complete...

InsuranceNoodle celebrates five-year anniversary.(InsuranceNoodle Inc.)
September 1, 2005... Insurance e-broker InsuranceNoodle has a lot to celebrate. After five years in the business, the company has received more than 116,000 requests for quotes and 33,000 written policies--making it what it says is the leading Internet-based...

Right service, right time: data warehousing breakthrough 'supersizes' the business value of event detection for insurance providers.(Technology Insight)
September 1, 2005... A man arrives at his local pharmacy, part of a large retail chain, to fill his pain prescription for one of the COX-2 specific inhibitors. When the pharmacist enters the prescription into a computer, safety data pops up with a reminder that...

Secret agents in administration: if program administrators are involved in activities related to selling insurance products, they could be required to comply with new compensation disclosure requirements.(Compensation Disclosure)
September 1, 2005... Defining a program administrator can be a slippery task. Many describe themselves as wholesalers, general agents, managing general agents or surplus line producers. Still others act as captive managers, employee-benefit program administrators...

Before the fact: a ruling says carriers cannot "read back" a pre-existing condition that went undiagnosed in the look-back period.(group disability insurance)
September 1, 2005... Most group disability policies include a provision that excludes coverage for illness or physical conditions that existed before the policy took effect. These pre-existing condition exclusions typically preclude coverage for disabilities that...

Under cover: the 2012 Olympic Games offer large demand for terrorism insurance.(Terrorism)
September 1, 2005... After a hard-fought selection process, London was chosen as the site of the 2012 Olympics, as organizers announced July 6 that the British capital had beaten Paris, New York, Moscow and Madrid. But with the events of July 7--when London's...

Market repair: headed for a dead-end street, Massachusetts looks to change its auto insurance system.(Auto Insurance)
September 1, 2005... On June 1, Massachusetts Gov. Mitt Romney took the stage at the castle-like Larz Anderson Auto Museum in Brookline, Mass. to announce a bill aimed at fixing the state's auto-insurance market, which Romney describes as "Soviet style." ...

Join the game: 'My Ex-Broker' offers risk managers a tongue-in-cheek way to kiss their worries good-bye.(Loss/Risk Management Insight)
September 1, 2005... It seems as if there is a new recreational game among some insurance buyers. It is called "Broker...You're Fired." I do realize that this industry-wide game has been going on for years but it seems to have reached a pinnacle as of late. I...

Risk managers' role grows along with theft threats.(consumer data security management)
September 1, 2005... A string of high-profile, highly publicized thefts of consumer data this year has put more pressure on risk managers to protect their companies' data and reputation. Over the past year and a half, risk managers have been taking a larger...

Traffic safety study: speeders are higher risks.(traffic accidents due to speed and drunken drivers)(Brief Article)
September 1, 2005... The U.S. National Highway Traffic Safety Administration's study on speeding confirms what the insurance industry has known for a long time: Those at higher risk for accidents include people who drive too fast, male teens and drunken drivers....

Winning moves: successful life insurers have market agility--the ability to drive products to market faster and ahead of the competition.(Marketing)
September 1, 2005... In 2000, Allianz Life Insurance Company of North America's variable annuity business was barely notable, reporting sales of just $200 million. By the end of 2005, Allianz Life is projected to sell more than $4 billion of variable annuities....

Hub to acquire Chubb's personal lines brokerage.(Hub International)(Chubb Corp.)(Brief Article)
September 1, 2005... Hub International says it will acquire Chubb Corp.'s personal lines insurance brokerage business for an undisclosed amount. The acquisition will boost Hub's personal lines business by approximately 20% of consolidated revenue, and make it...

Harleysville to restructure field offices, cut work force.(Harleysville Group Inc.)(Brief Article)
September 1, 2005... Property/casualty insurer Harleysville Group Inc. said it would eliminate 5% of its work force as it makes some changes to how its field offices operate. During a second-quarter earnings conference call, Michael Browne, president and chief...

Safeco withdrawing from Florida homeowners market.(Companies)(Brief Article)
September 1, 2005... Property/casualty insurer Safeco Corp. is withdrawing from the homeowners and other personal property insurance markets in Florida, but policyholders are safe through this year's hurricane season. Safeco said it would stop renewing...

Australia's AMP sells stake in India joint venture.(AMP Ltd)(Brief Article)
September 1, 2005... Australian financial services group AMP Ltd. said it sold its interest in a joint venture insurer in India as part of AMP's strategy of focusing on its wealth management businesses in Australia and New Zealand. AMP said its AMP Life unit...