National Underwriter P&C February-26, 2008
Cover Story
London Market In Great Shape, But Must Clear Internal, External Hurdles
The London insurance market has come a long way from the dark days of the early 1990s, when it was plagued by losses derived from asbestos, pollution and catastrophe claims, exacerbated by the
Opinion
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Another Bond Broken
As if the insurance industry didn't have enough of an image problem, the bad press generated by the boneheaded acceptance of subprime mortgage exposures by bond insurers has prompted devastating
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IRS Never Knew What Hit Them In Captive Tax Debate
The regulation--1.1502-13(e), proposed on Sept. 28, 2007--would have eliminated the tax deduction for reserves established by captives for insurance sold to affiliates, if the insureds and insurer
News
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Will Your Firm Be 2008's NU Agency Of The Year?
It's time once again for independent agencies that do an outstanding job selling insurance and providing risk management services to prepare their entries for the National Underwriter "Commercial
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Tech Just Isn't As Cool As It Used To Be
The latest figures indicate that the number of computer science degrees granted to college/university students is plummeting. While the reasons for this are many, NU's Ara Trembly points to a
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Are American Tech Pros Second Rate?
The March 17 issue of Computerworld reports that Microsoft Chairman Bill Gates asserted before Congress recently that U.S. companies may lose jobs if they can't bring in "world-class engineers" from
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Jury Convicts Five Gen Re, AIG Execs On 16 Counts For Fraudulent Finite Deal
Five former top insurance executives with General Reinsurance and American International Group were found guilty by a federal jury last week of all charges stemming from a bogus reinsurance deal that
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Judge Finds Ex-Marsh Officials Guilty On Bid-Rigging Charge
New York State Supreme Court Judge James A. Yates handed down his verdict on Feb. 22 in the nonjury trial against William Gilman, a former executive marketing director and managing director at Marsh,
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Private Equity Deals No Automatic Exit For Sellers Of Wholesale Brokerages
Private equity firms are paying high prices for well-managed wholesale brokerages and managing general agencies, but that doesn't mean they are a quick or easy way out of the business for retiring
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Retail Agents Give Wholesalers High Overall Marks, But Seek More Contact
NAPSLO is set to spend nearly half-a-million dollars communicating the value of wholesale brokers to their customers, but the process has to start in individual wholesalers' offices, with actions as
Market Report
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Lancashire Sees London, Bermuda As The Best Of Both Insurance Worlds
Globetrotting to find expansion opportunities may be the principal activity of many Bermuda executives these days, but Richard Brindle, chief executive officer of Lancashire Insurance Company, which
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Market Not In 'Meltdown,' Brindle Says
"Some people are just in denial, saying rates are only off 5 percent, which is frankly disingenuous," he noted. "Others are saying it's the end of the world. It's not that either. The market is not
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Lloyd's Considers Setting Up Internet-Based Messaging Hub
With more than 70 percent of premium transactions and 75 percent of claims now being processed electronically, Lloyd's is looking to streamline its risk placement process, according to Louise Shield,
Buyers Report
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Bermuda Captives Weathering Soft Market
Last year, 71 new captive insurers were incorporated, compared to 82 in 2006, noted Peter Willitts, president of the Bermuda Insurance Managers Association, as well as president of Liberty Mutual
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Cayman Captives Once Again Providing Rx For Med Mal Risks
At the end of September 2007, there were 49 new captives licensed in the 2006-2007 fiscal year, for a total of 756 active captives in the Cayman Islands. Annual premium written was in excess of $7.4
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CICA To Release Captive Best Practices
"We thought it was important that captives, as they continue to grow and develop, benchmark their performance to add value to their organization; to continue to evolve their captive operation; and to
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Leonard Crouse Leads Vermont To Captive Heights
When Leonard Crouse began regulating the Vermont captive industry 18 years ago, there were only a handful of domiciles in the United States. During his tenure, not only has Vermont seen a steady
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Medical Malpractice Problems Spur Surge Of Physician RRGs
In January, of the seven new RRGs added to RRR listings, six were organized to insure doctors. Four states were selected as domiciles: Arizona (two), Montana (two), South Carolina (two) and Vermont
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Risk Managers Have Different
With nearly 30 U.S. domiciles available, along with offshore options, risk managers looking to set up a captive have a virtual smorgasbord to choose from, with cost and geographic location being the
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Captives Fight Off Second IRS Threat
Latest victory on taxation of reserves echoes 1990s battle over 'insurance'
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ART Still Makes Sense In A Soft Market
Every soft insurance market raises the inevitable question for risk managers: Why do I need an alternative risk-transfer vehicle when I can easily get coverage in the standard market? But to even ask
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RIMS Press Panel Eyes Reputational Risk
Effectively getting an organization's position across during a crisis is a key aspect of enterprise risk management, as poor press relations can exacerbate an already catastrophic situation. How can
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NU To Award Risk Managers For Workers' Comp Excellence
A representative from the risk management departments of three company finalists will be flown to Orlando to attend the Workers' Compensation Educational Conference from Aug. 17-20, where the 2008
