National Underwriter Property & Casualty-Risk & Benefits Management

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Articles in June, 2005 issue of National Underwriter Property & Casualty-Risk & Benefits Management

• Greenberg sued to rescind AIG stock transfer to wife.(SEE YOU IN COURT)(Maurice Greenberg)(American International Group)(Brief Article)
  by Ha, Michael
• ESOP's fables can make coverage risky: moral of the story is not to ignore exposures should employee stock tank.(employee stock ownership plans and fiduciary liability hazards, employment practices liability insurance)
  by Brodzinski, Carrie
• Rift re-emerges on optional federal charter.(LETTER SPARKS CLASH)
  by Postal, Arthur D.
• AIG 10-K reveals overstated income: five-year combined profit cut by $3.9 billion; $850 million A&E charge announced.(SOME UNCERTAINTY REMAINS)(American International Group Inc.)
  by Ha, Michael
• Sharing services helps insurers cut costs: concept helps achieve economies of scale; allows focus on core activities.(IT IS KEY EXAMPLE)
  by O'Neill, Sean
• Nursing home RRGs get rating relief: HUD accepts new rating service seal of approval for loan guarantee program.(Housing and Urban Development)(risk retention groups)
  by Cutts, Karen
• The ideal risk manager.(Richard Sarnie, risk manager at Engelhard Corp. )
  by Friedman, Sam
• New ADEA ruling huge for employers.(U.S. Supreme Court's age-bias ruling in Smith vs. City of Jackson)(Age Discrimination in Employment Act of 1967)
  by Maatman, Gerald L., Jr.
• Global insurance pond has midsize fish; brokers need to serve smaller firms with growing international presence.(MIDDLE-MARKET OPPORTUNITY?)
  by Demaret, Elizabeth Francy.
• NU award deadline extended.(CALLING ALL AGENTS)(Brief Article)
• Central Asian execs look to improve RM.(risk management)(Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan and Uzbekistan)
  by McDonald, Caroline
• Ex-Cologne Re executive pleads guilty: deal includes promise to testify against AIG; SEC suit targets Greenberg.(John Houldsworth, American International Group, Securities and Exchange Commission)
  by Hays, Daniel
• CGL ruling bails out firm with EPL exposure.(FC&S ON LINES)(commercial general liability)(employment practices liability)
  by Reitz, Diana
• Wausau automates mid-mkt. submissions; agents' interface expanded beyond personal and small-commercial markets.(TECH BOOSTS EFFICIENCY)(Wausau Insurance Companies)
  by Ha, Michael
• Despite scandal, buyers rate Marsh no. 1: risk managers see no boost in broker fees despite loss of contingency revenue.(NO HARD FELLINGS?)
  by McDonald, Caroline
• XBRL boosts disclosure effort.(STANDARDS HELP)(eXtensible Business Reporting Language)(financial reporting standards)
  by Ha, Michael
• Experts see volatile market ahead: bigger buyers in strongest position, but prices for most head downward.(State of The Market ROUNDTABLE)(Panel Discussion)
  by Friedman, Sam
• NAIC stands pat on broker disclosure: regulators also address finite re statements, claims history debate and receiverships.(MEETING RECAP)(National Association of Insurance Commissioners)
  by Tuckey, Steve
• Acordia keeping contingent fees.(AGAINST THE GRAIN)
  by Ruquet, Mark E.
• Texas okays comp reform.(MANAGED CARE WINS)(workers' compensation reform)(Brief Article)
  by Tuckey, Steve
• Risk managers must be fleet champions: loss control investments depend on selling top executives about their value.(Speed Bumps)
  by Dick, Stratford
• Despite criticism, is credit scoring here to stay? Insurers stand by rating criteria, while efforts to restrict OF ban practice fizzle.(BEATING THE ODDS)
  by Tuckey, Steven
• First-quarter income, combined ratio flat: RAA survey shows profitable underwriting, but falling net written premiums.(U.S. REINSURER UPDATE)(Reinsurance Association of America)
  by Ha, Michael
• Global broker networks can do the job for midsize firms; multinational firms aren't the only ones capable of service abroad.(HOW TO CHOOSE)(Brief Article)
  by Demaret, Elizabeth Francy
• Cutting-edge products: automation, processing targeted for carriers, agents, brokers.(INTRODUCED AT ACORD LOMA)
  by Trembly, Ara C.
• Auto insurers see gain, pain in new tech: automated cars of the future will cut claim frequency but be more expensive to fix.(technology trends)
  by Tuckey, Steven
• Employment practices liability insurance: directory of companies and brokers.(E&S/SPECIALTY LINES)
• Insurers, buyers brace for TRIA decision; fate of federal terrorism program may hinge on Treasury Dept. report due June 30.(WHITE HOUSE MUM)(Terrorism Risk Insurance Act )
  by Postal, Arthur D.
• HRH president quits in fee controversy: a second employee fired, a third suspended after internal investigation.(ANOTHER BROKER HIT)
  by Ruquet, Mark E.
• IT outsourcing benefits, difficulties seen: product complexity, agent reaction give some insurance companies pause.(COST-CUTTING STRATEGIES)
  by Ha, Michael
• Supply & demand trumps any negative M&A factors.(AGENCY BEST PRACTICES)
  by Reagan, Bobby
• Standards for RMs await implementation: buyers seek more accurate and efficient information exchange with partners.(risk managers, Agent-Company Organization for Research and Development's standards)
  by McDonald, Caroline
• Outsourcing: it's all about relationships.(TECH GURU)
  by Trembly, Ara C.
• RMs can help thwart kidnappers: war in Iraq, terrorism heightens exposure; insurers offer coverage, expertise.(risk managers)
  by Lattin, David
• Producers in slugfest over middle-market accounts: superior size helps, but doesn't guarantee knockout to win over buyers.(AGENT/BROKER TIPS)
  by Ruquet, Mark E.
• Asbestos bill doomed despite latest vote: insurers blast newest version for failing to provide exclusive claims remedy.(WASHINGTON UPDATE)
  by Postal, Arthur D.
• Fla. alters windstorm coverage system.(STORMY WEATHER)
  by Brady, Matt
• NRRA fights N.C. bill to curtail RRGs: North Carolina is latest state to set restrictions that might violate federal law.(National Risk Retention Association, North Carolina, risk retention groups)
  by McDonald, Caroline
• 'Rogue' underwriters extinct: soft cycle no longer fueled by irresponsible competition.(property and casualty insurance premiums)(Brief Article)
  by Ha, Michael
• WCRI clashes with labor over integrity: AFL-CIO blasts workers' comp research group as tool of insurance industry.(Workers Compensation Research Institute)
  by Hays, Daniel
• Ohio AG sues over WC Fund loss.(DEMS DEMAND EXPLANATION)(MDL Active Duration Fund Ltd.)(Bureau of Workers' Compensation)
  by Hays, Daniel
• NU agent award deadline extended.(ENTER BY JULY 25!)
• No quick action on asbestos bill, Sen. Frist warns.(asbestos litigation reform bill, Senator William Frist)(Brief Article)
  by Brady, Matt
• As EPL coverage comes of age, smaller firms get insurer attention: despite lack of HR departments, small firms might actually be better risks.(employment practices liability insurance, human resources)
  by Tuckey, Steve
• Calling all agents!(A VIEW FROM THE PRESS BOX)
  by Friedman, Sam
• Gen Re exec pleads in AIG reserve case.(EVIDENCE MOUNTING)(General Re Corp.)(American International Group Inc.)
  by Hays, Daniel
• IT laments tight budgets, lack of management support: insurer technology leaders asked to do more with less.(CIO PANEL)
  by Ha, Michael
• Governor Spitzer?(A VIEW FROM THE PRESS BOX)(Eliot L. Spitzer)
  by Friedman, Sam
• Basket approach limits EPL coverage: package policies have lower premiums but might offer weaker RM tools.(employment practices liability insurance)
  by Price, David J.
• Regulators face off over federal standards bill: NAIC maintains steadfast opposition, but former commissioners cut Congress some slack.(A SMART MOVE?)
  by Postal, Arthur D.
• TRIA worries crimp market, insurers say: looming expiration may force carriers to limit risk via price hikes market exits.(CLOCK IS TICKING)(Terrorism Risk Insurance Act)
  by Sclafane, Susanne
• Flexibility, adaptability critical in claims: reinsurance claims processing very different than systems for primary carriers.
  by Schindler, Rock J.