Business Insurance back issues from November 2008:
Online strategies greatest hits; Multichannel approach key to capitalizing on emerging opportunities.(Cover Focus: Online Strategies)
Nov 01, 2008; ... Byline: Meg Fletcher The turmoil in the financial markets is driving some agent/brokers and consumers to insurers' Web sites in search of ways to cope with the economic pressures. Those agent/brokers and consumers are seeking information about coverage ...
Online strategies changing channels; Meet expectations with tech tools.(Cover Focus: Online Strategies)
Nov 01, 2008; ... Byline: Meg Fletcher Technological changes are creating a workplace reality to which the insurance industry must respond or face losing both customers and future employees, a Microsoft Corp. executive says. Overall, the development of connected experiences is ...
The quote.(Industry News)
Nov 01, 2008 ... "I want to see an independent, nonprofit rating agency, only for the insurance industry.' -Michael ...
NAMIC to partner in study of P/C policy systems.(Industry News)(National Association of Mutual Insurance Companies)(Brief article)
Nov 01, 2008 ... INDIANAPOLIS-The National Assn. of Mutual Insurance Cos. will partner with management consulting, advisory and research firm Insurance Technology Group Inc. on a comprehensive survey of the business drivers influencing property/casualty insurers' policy administration practices and ...
Big I endorses Swiss Re Agency Shield Program.(Industry News)(The Independent Insurance Agents & Brokers of America)(Swiss Reinsurance Co.)(Brief article)
Nov 01, 2008 ... ALEXANDRIA, Va.-The Independent Insurance Agents & Brokers of America has endorsed the Agency Shield Program from Swiss Reinsurance Co. Ltd.'s Commercial Insurance Group for its agency errors and omissions policyholders. The Agency Shield Program is available to Big I member ...
FM Global to expand research campus, increase workforce.(Industry News)(Factory Mutual Insurance Co.)(Brief article)
Nov 01, 2008 ... WEST GLOCESTER, R.I.-Factory Mutual Insurance Co., which does business as FM Global, has announced a $38 million expansion of its 1,600-acre research campus in West Glocester, R.I. FM Global says the enhancements of the facility will ensure that it can keep pace with its ...
In focus.(Tech Focus)(Accenture Ltd.)(Affiliated Computer Services Inc.)(Computer Sciences Corp.)
Nov 01, 2008 ... As they look for the information technology power they need to do business effectively, many insurance industry companies often find it most efficient to look to outside partners rather than setting up systems in-house. Whether it's information processing, document storage or help with ...
Groups offer global regulatory principles.(Industry News)(Brief article)
Nov 01, 2008; ... Byline: Rodd Zolkos The Property Casualty Insurers Assn. of America joined other international trade associations last month in discussions focusing on the international financial crisis and related insurance supervision issues at the annual conference of the International Assn ....
CEO pay and bonuses flat or declining: Study.(Industry News)(Brief article)
Nov 01, 2008; ... Byline: Rodd Zolkos The current economic decline, uncertain financial markets and the crisis in the financial services industry will likely keep pressure on insurance industry executive compensation, according to Mercer L.L.C. The New York-based benefit and human ...
Three questions.(Industry News)(Andrew M. Appel of Aon Corp. )
Nov 01, 2008 ... Andrew M. Appel, chief executive officer of Chicago-based Aon Corp.'s Aon Re Global unit, expects this reinsurance renewal season to be a challenging one, as ceding companies look to protect themselves not just from traditional exposures but also from heightened share price volatility ....
Most insurers' capital levels adequate: S&P.(Industry News)(Standard & Poor's Corp.)(Brief article)
Nov 01, 2008; ... Byline: Rodd Zolkos Recent catastrophes and investment losses have combined with soft pricing conditions to create a challenging environment for commercial lines insurers, but rating agency Standard & Poor's Corp. considers most insurers' capital positions to be adequate for ...
On the move.(Industry News)(American International Group Inc. has appointed some people)(Ace USA Inc. has appointed some people)(Factory Mutual Insurance Co. has appointed Ruud Bosman )
Nov 01, 2008 ... New York-based American International Group Inc. has named Paula Rosput Reynolds vice chairman and chief restructuring officer. Ms. Reynolds previously was chairman, president and chief executive officer of Safeco Corp. AIG also named David L. Herzog executive vp and chief financial ...
CPCU Society opens meeting to nonmembers.(Industry News)(Brief article)
Nov 01, 2008 ... MALVERN, Pa.-Starting with its 2009 gathering in Denver, the CPCU Society will open registration to its annual meeting and seminars to nonmembers. Previously, the event was open only to members of the Malvern, Pa.-based CPCU Society and their guests. In announcing ...
For-profit rating agencies, models examined at PCI.(Feature: Gatherings)(Property Casualty Insurers)
Nov 01, 2008; ... Byline: Meg Fletcher SCOTTSDALE, Ariz.-Illinois Insurance Director Michael McRaith discussed the role rating agencies have played in the current economic crisis with restraint, but his disapproval of rating agencies' "stealth regulation'' was apparent. He predicted ...
The whole insurance world's watching.(First Word)(Personal account)
Nov 01, 2008; ... Byline: Rodd Zolkos I write this not too long after what by anyone's calculation has to be considered a pretty remarkable election, particularly remarkable, I think, if you happened to be here in Chicago. As a Chicagoan, much of what has occurred on the periphery of ...
On the web.(News)(briefs)(Brief article)
Nov 03, 2008 ... QUESTIONS & ANSWERS See expanded interview with AIG chief Ed Liddy Business Insurance offers an expanded version of the interview with American International Group Inc. Chairman and CEO Edward Liddy, featured on page 29, online at www.BusinessInsurance.com/QandA. ...
VOTE in the BI Online Poll at www.businessinsurance.com; This week's results.(Opinions)(Survey)(Brief article)
Nov 03, 2008 ... Q. Can New York achieve insurance contract certainty in a year? Yes, within a year. - 19% Yes, but not in a year. - 31% No - 50% ...
WRITE.(Opinions)
Nov 03, 2008 ... Business Insurance welcomes letters to the editor. The section is intended to be a forum for readers' opinions and comments. We reserve the right to edit letters for clarity or space. We will not publish unsigned letters. ...
Comings & goings online.(Comings & Goings)
Nov 03, 2008 ... Visit www.businessinsurance.com/ComingsandGoings for a full list of this week's personnel moves and promotions. Check our Web site daily for additional postings. Sign-up online for the weekly Comings and Goings e-mail. To Submit Items Business Insurance would like to ...
Benefits of risk management.(International News)(Survey)(Brief article)
Nov 03, 2008 ... Percentage of respondents that agreed with the following statements: * Risk management improves accountability, decisionmaking, transparency and visibility. 93% * Risk management protects reputation and stakeholder confidence. 93% * Risk management ...
States pass comp rate reductions; Employers expected to benefit from decline in coverage costs.(News)(compensation)(Brief article)
Nov 03, 2008; ... Byline: ROBERTO CENICEROS Several states recently approved workers compensation rate reductions for next year. Florida Insurance Commissioner Kevin McCarty last Tuesday approved an 18.6% workers compensation rate reduction effective Jan. 1.The reduction will produce ...
High court's rulings cut both ways.(Spotlight: Liability & Litigation)(dialogue with Robin S. Conrad of National Chamber Litigation Center Inc.)(Interview)
Nov 03, 2008; ... Byline: Mark A. Hofmann Robin S. Conrad was promoted in 2007 to executive vp of the National Chamber Litigation Center Inc., which handles lawsuits on behalf of the U.S. Chamber of Commerce in Washington. During her more than two decades with the NCLC, Ms. Conrad has played a ...
Secretive nature of arbitration makes it difficult to evaluate; More research has been conducted on employment and securities cases than consumer and franchise disputes.(Spotlight: Liability & Litigation)
Nov 03, 2008; ... Byline: NICK WHITFIELD In the debate over predispute mandatory arbitration agreements, advocates for both sides cite empirical research to back their claims. But the data that is available has not been enough to clear the air-because arbitrated cases are not subject ...
Bills target mandatory arbitration; Legislation would curtail use in nursing homes, consumer agreements.(Spotlight: Liability & Litigation)
Nov 03, 2008; ... Byline: NICK WHITFIELD Federal legislation that would ban or greatly limit the use of mandatory arbitration to resolve certain contract disputes gained traction in the latest session of Congress and, some say, may win passage in the next Congress. Mandatory ...
Financial crisis expected to fuel civil suits, criminal charges; 'Bonanza' predicted for plaintiff lawyers targeting companies.(Spotlight: Liability & Litigation)
Nov 03, 2008; ... Byline: MARK A. HOFMANN WASHINGTON-The current financial crisis likely will lead to what one attorney calls a "lawyerpalooza.'' There will be a "wave of private suits'' six to 18 months from now, Andrew J. Rossman, New York-based co-head of the litigation group of ...
McCAIN VS. OBAMA; How the presidential contenders differ on health care reform.(News)(John McCain)(Barack Obama)(Brief article)
Nov 03, 2008 ... John McCain supports * Adding health premiums paid by employers to employees' taxable income. * Providing a refundable tax credit of $2,500 for individuals and $5,000 for families to pay health premiums. Unused credits could be deposited in HSAs. * With ...
Products & services.(Crump Insurance Services Inc.)(Lincoln National Corp.)(AIG Excess Casualty)
Nov 03, 2008 ... Crump, Ironshore offer construction program DENVER-Crump Insurance Services Inc., a division of Crump Group Inc., has partnered with Bermuda-based Ironshore Inc. to offer a general liability program for commercial and residential subcontractors with premiums starting at $2,000. ...
Employers recork holiday champagne.(End Page)
Nov 03, 2008; ... Byline: Contributing: Mike Tsikoudakis and Joanne Wojick. Employer-sponsored holiday parties are being scaled back in response to the nation's economic troubles, but spirits will still be flowing at many gatherings. In its annual survey, global outplacement consulting ...
Fallback on recipe for heart health.(End Page)(Brief article)
Nov 03, 2008 ... Turning back the clock over the weekend may have saved your life. A study in the New England Journal of Medicine suggests that heart attacks decrease by 5% on the Monday after daylight-saving time, possibly because of the extra hour of sleep. Dr. Imre Janszky of the ...
Business Insurance adds event planner; Risk management awards, other project among Rebecca Briggs' duties.(News)(Brief article)
Nov 03, 2008 ... NEW YORK-Rebecca Briggs has joined Business Insurance as event manager, responsible for all of the publication's events including the Women to Watch Luncheon, the Risk Manager of the Year Awards and other projects. Before joining Business Insurance in New York, Ms. Briggs worked ...
Tort reform backers win some battles to reduce liability risks; 'Reinvigorated plaintiffs bar' requires ongoing vigilance.(Spotlight: Liability & Litigation)
Nov 03, 2008; ... Byline: MARK A. HOFMANN Tort reform has been losing traction at the federal level and is facing increasing challenges at the state level as well, say civil justice reform advocates. That doesn't mean that tort reformers have given up trying to achieve their goals in ...
Tort law battlegrounds stretch from East to West coasts; Emotional damages in wrongful death case at issue in New Jersey; efforts to limit California class actions fall short.(Spotlight: Liability & Litigation)
Nov 03, 2008; ... Byline: MARK A. HOFMANN Even when playing defense in protecting hard-won gains in state legislatures, tort reform advocates constantly look for new opportunities to restore what they consider balance to the civil justice system. For example, they have stepped up ...
Blame regulatory vacuum for subprime meltdown.(Commentary)
Nov 03, 2008; ... Byline: Douglas McLeod Enrico Fermi, working on the Manhattan Project in the New Mexico desert in 1945, famously took bets on whether the first atom bomb test would ignite the atmosphere. It's not known whether the math geniuses who perfected mortgage-backed ...
Up close SHARON SCHEUERMANN.(Comings & Goings)(Scotch Plains has been appointed at Dubraski & Associates Insurance Services L.L.C)
Nov 03, 2008 ... NEW JOB TITLE: Scotch Plains, N.J., and New York-based senior associate with Dubraski & Associates Insurance Services L.L.C. PREVIOUS POSITION: New York-based senior vp with Marsh Inc. VITAL STATISTICS: I am a CPCU (Chartered Property & Casualty Underwriter). ...
Insurance was source of Kafka's angst.(End Page)(Brief article)
Nov 03, 2008 ... Before Franz Kafka's metamorphosis into literature's lonely scribe of existential despair, he worked as a high-ranking lawyer for an insurance company. "Franz Kafka: The Office Writings,'' published this fall by Princeton University Press and edited by Stanley Corngold, Jack ...
Some attribute drop in medical service use to rise in consumer-driven health plans.(News)
Nov 03, 2008; ... Byline: Joanne Wojcik Some health care experts attribute recent findings showing a decline in the use of medical services to the consumerism movement and hope the current economic downturn will persuade many employees to consider lower-cost health care options. The ...
EAP vendors report surge in number of help line calls.(News)(employee assistance programs)
Nov 03, 2008; ... Byline: JOANNE WOJCIK As employers increase benefit communications efforts to make employees aware of the availability of employee assistance programs, EAP vendors are reporting an unprecedented number of calls to help lines. Many of the employees calling EAPs are ...
Reinsurers predict higher rates; Not all in Baden-Baden expect short-term end to soft market.(International News)
Nov 03, 2008; ... Byline: RICHARD MILLER BADEN-BADEN, Germany-Reinsurers expect that increased demand for reinsurance as a form of capital relief will allow them to increase rates by at least 10% or more in certain lines at Jan. 1, 2009 renewals. Long-tail liability lines and ...
U.K. sets standards for risk management; Framework a guide to principles, models.(International News)
Nov 03, 2008 ... Byline: SARAH VEYSEY LONDON-The British Standards Institution has launched its standard for risk management. The standard, BS 31100 Code of practice for risk management, went into effect Oct. 31. It is intended to be a guide to risk management principles, models, ...
European insurers lead in ERM: Study.(International News)(Brief article)
Nov 03, 2008; ... Byline: SARAH VEYSEY European insurers and reinsurers are making progress in implementing enterprise risk management strategies and overall tend to lead their U.S. counterparts on ERM implementation, according to a study by Towers Perrin. Towers Perrin surveyed 359 ...
Want $10M? Easy! Just fix health care.(End Page)(X PRIZE Foundation )(Brief article)
Nov 03, 2008 ... Americans who don't like either of the two presidential candidates' health reform proposals now have a chance to try to fix the system themselves. Indianapolis-based health insurer WellPoint Inc. and the X PRIZE Foundation are offering $10 million to any person or group of ...
Webinar eyes regulatory reform; Free online forum Nov. 12 features panel of industry experts.(News)(Brief article)(Conference notes)
Nov 03, 2008 ... Amid the global economic crisis, regulatory reform is a hotly debated topic. To explore this subject in depth and pose questions to industry experts, join Business Insurance supplement Industry Focus for a free Online Executive Forum Wednesday, Nov. 12, at 2 p.m. Eastern ...
Skimping on health care feared in tough times; Employers urged to caution workers against cutting corners by skipping doctor visits, prescriptions.(News)
Nov 03, 2008; ... Byline: JOANNE WOJCIK Concerned that some employees may be scrimping on essential health care during the current economic downturn, experts advise employers to step up benefit communications to emphasize the importance of getting preventive screenings and taking prescription ...
Court allows RICO suit over comp claim denial; Claimants allege employer, TPA conspiracy.(News)
Nov 03, 2008 ... Byline: ROBERTO CENICEROS A federal appeals court decision allowing a racketeering lawsuit to proceed against an employer and its third-party administrator could drive increased litigation over denial of workers compensation claims, some attorneys say. The Oct. 23 ...
Errors & Omissions.(Correction notice)
Nov 03, 2008 ... A story in the Oct. 20 issue, "Predictive Models Tackle Drivers of Workers Comp Claims,'' misstated the name of a third-party administrator. The correct name is Cambridge Integrated Services, not Cambridge International. ...
Victim of racial attack ineligible for comp.(News)(Brief article)
Nov 03, 2008; ... Byline: ROBERTO CENICEROS MONTGOMERY, Ala.-A Burger King restaurant manager sexually assaulted in a racially motivated attack as she arrived at work is not eligible for workers compensation benefits, the Alabama Supreme Court has ruled. The state high court agreed ...
Shape of Congress will inform agenda; Regulatory changes expected, but extent unclear.(News)
Nov 03, 2008; ... Byline: MARK A. HOFMANN WASHINGTON-The ongoing financial markets crisis almost guarantees that insurance regulation will be on the next Congress' agenda, industry observers say. The nature of any new regulation could well depend on a handful of congressional ...
P/C insurer groups unite in opposing federal capital aid; AIA, NAMIC and PCI say primary coverage providers are sufficiently capitalized and reserved to pay their claims.(News)
Nov 03, 2008; ... Byline: MARK A. HOFMANN WASHINGTON-The three major primary property/casualty insurer trade groups may not agree on everything, but they are united in their belief that P/C insurers should not participate in the federal government's capital purchase program. The ...
Battle positions drawn on binding arbitration.(Opinions)(Brief article)
Nov 03, 2008 ... WHILE WE CAN'T predict the exact composition of the Congress that will be elected tomorrow, it's a safe bet that the assault on binding arbitration agreements that began in the last Congress will continue. In fact, it will likely gain strength. And as far as we're concerned, ...
AIG chief sees bright future despite current turmoil; Questions & answers.(News)(dialogue with Edward Liddy)(Interview)
Nov 03, 2008; ... Byline: Regis Coccia American International Group Inc. continues to borrow money under federal financing programs to meet obligations, but its underlying insurance operations are running smoothly, said Edward Liddy, chairman and chief executive officer. Mr. Liddy spoke with ...
Several states poised to get new insurance regulators.(News)
Nov 03, 2008; ... Byline: MEG FLETCHER Voters' choices in Tuesday's elections could affect top insurance regulators in as many as 10 states. Five states have elections to determine the top insurance regulator-Delaware, Montana, North Carolina, North Dakota and Washington. Change is ...
CNA gets capital boost as losses hit 3Q results; Parent adds $1.25B as investments, cats take toll on insurer.(News)(CNA Financial Corp. financial news)(Financial report)
Nov 03, 2008 ... Byline: JUDY GREENWALD CHICAGO-Loews Corp.'s $1.25 billion capital infusion into its CNA Financial Corp. unit will help the insurer maintain its strength despite its $331 million third-quarter loss, observers say. The move also continues Loews' practice of injecting ...
Greenberg to Liddy: Time is running out.(News)
Nov 03, 2008; ... Byline: JUDY GREENWALD NEW YORK-Time is running out for American International Group Inc., former Chairman and Chief Executive Officer Maurice R. Greenberg said in a letter to current Chairman and CEO Edward Liddy that calls for a different approach to the insurer's government ...
New York seeks private takeover of runoff; Unusual tactic used in Midland liquidation.(News)
Nov 03, 2008; ... Byline: ZACK PHILLIPS EAST RUTHERFORD, N.J.-The New York Liquidation Bureau will solicit proposals from private runoff companies to take over the 22-year-old liquidation of Midland Insurance Co., a state official said. Mark G. Peters, special deputy superintendent in ...
Groups seek reprieve on pension funding; Drop in plans' funded status putting pressure on employers.(News)
Nov 03, 2008; ... Byline: JERRY GEISEL WASHINGTON-Business groups are urging federal legislators to temporarily suspend certain pension plan funding rules, warning of serious consequences if employers are required to replenish too quickly plans battered by the plummeting equities markets. ...
Benefits paid in full well worth the risk.(Opinions)
Nov 03, 2008 ... IT IS UNDERSTANDABLE if federal legislators are skeptical about proposals by more than a dozen business groups to temporarily ease pension plan funding rules that Congress stiffened little more than two years ago. There is an historical basis for skepticism. In the mid-1980s, ...
Rivals snatch AIG staff as uncertainty lingers; Insurer says personnel defections manageable.(News)(American International Group Inc)
Nov 03, 2008; ... Byline: DAVE LENCKUS NEW YORK-Numerous senior underwriting executives have bolted from American International Group Inc. in recent weeks in an exodus that some departed executives and AIG's competitors expect to continue as many remaining AIG personnel circulate their resumes. ...
In brief.(News)(Briefs)(Financial report)
Nov 03, 2008 ... Cat claims total $11.5B in quarter U.S. property/casualty insurers will pay $11.5 billion in catastrophe claims for the third quarter, estimates the Property Claim Services unit of the Insurance Services Office Inc. PCS said in a statement that 11 catastrophes in 22 states ...
On the web.(News)(Brief article)
Nov 10, 2008 ... ELECTION 2008 Read complete election coverage online Business Insurance offers complete election coverage, including comprehensive coverage of the all issues affecting commercial insurance and employee benefits, plus the relevant original documents, at ...
WRITE.(Opinions)
Nov 10, 2008 ... Business Insurance welcomes letters to the editor. The section is intended to be a forum for readers' opinions and comments. We reserve the right to edit letters for clarity or space. We will not publish unsigned letters. ...
VOTE in the BI Online Poll at www.businessinsurance.com; This week's results.(Opinions)(Survey)(Brief article)
Nov 10, 2008 ... Q. How will you adjust your contribution to a medical savings account for 2009? Increase: 48% Decrease: 17% No change: 21% Do not have an HSA, FSA ...
Comings & Goings online.(Comings & Goings)(Brief article)
Nov 10, 2008 ... Visit www.businessinsurance.com/ComingsandGoings for a full list of this week's personnel moves and promotions. Check our Web site daily for additional postings. Sign up online for our new weekly Comings & Goings e-mail alert. To Submit Items Business Insurance would ...
Errors & Omissions.(Correction notice)
Nov 10, 2008 ... An item in the Nov. 3 issue misstated Hartford Financial Services Group Inc.'s 2008 ...
Court backs prior-litigation exclusion; Appeals panel rules against ex-HealthSouth execs accused in lease deal.(News)
Nov 10, 2008; ... Byline: DOUGLAS McLEOD ATLANTA-A company controlled by former top officers of HealthSouth Corp. is not entitled to liability coverage in a lawsuit charging that the company improperly siphoned money away from HealthSouth, a federal appeals court has ruled. A panel of ...
Pandemic plans still important; READ: Perspectives and expert analysis online at www.businessinsurance.com/knowledgecenter.(Opinions)
Nov 10, 2008; ... Byline: Mike McGuire With the global financial crisis affecting many businesses, it may be tough for risk managers to get C-suite attention and support in preparing a pandemic plan, says Mike McGuire, vp of anti-infectives at F. Hoffman La Roche Inc. That is why it is as ...