National Underwriter P&C December-07, 2009
Cover Story
EPLI Cover Needed Now More Than Ever
When David Letterman recently revealed that he had engaged in sexual relations with members of his staff, it was at once funny--with his deadpan delivery--and yet disturbing to the live audience and the viewing public.
Opinion
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AIG Back On Defensive
The last thing American International Group needs during this crucial renewal season is any hint that reserves for its property and casualty insurance carriers might be inadequate.
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One-Size-Fits-All Regs Ill-Suited For Insurance
It is no coincidence that when free markets encounter turbulence, stability in the regulatory environment suffers as a result.
News
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AIG's Reserve Adequacy Challenged By Analyst Citing $11 Billion Deficiency
News about AIG broke fast and furiously last week, with questions raised about its reserve adequacy, deals closed to reduce its government debt, and an announcement that it had buried the hatchet with former CEO Maurice Greenberg.
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AIG, Ex-CEO Greenberg Settle Outstanding Disputes
AIG and former CEO Maurice R. "Hank" Greenberg have agreed to settle all outstanding disagreements, ending a bitter battle that ensued after Mr. Greenberg left the company in 2005 following an accounting scandal.
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Revamped U.S. Insurance Office Bill Clears House Hurdle, Draws Industry Praise
Thanks to changes supported by carriers and agents, most industry groups are now satisfied with legislation creating a Federal Insurance Office within the Treasury Department that was passed last week.
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Blow To Insurers Softened In Latest Systemic Risk Bill
Legislation giving the federal government broad authority to deal with troubled financial institutions--including insurers--passed the House Financial Services Committee last week on a tight 31-27 vote.
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Primary Insurer Rate Hikes Likely For 2010
Primary property and casualty insurers will need to increase rates in 2010 as they will continue to see poor returns on their investments next year, Swiss Re's top economist predicts.
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U.S. Reinsurers See Less Premium, But More Profits
U.S. reinsurers saw a slight decline in net premiums written during the first three quarters of 2009, but the business they wrote was far more profitable, a Reinsurance Association of America survey has revealed.
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Fed Flaws Cited In AIG Bailout Activity
Federal Reserve officials woefully underestimated the potential cost of bailing out American International Group, according to a report issued by the Office of the Special Inspector General for the Troubled Asset Relief Program.
Market Report
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Ponzi Scheme Cases On Deck After Recent Plaintiff Score On 401(k) Fee Case
Last month's $16.5 million settlement in an employee benefits plan case may open the floodgates to suits alleging excessive 401(k) fees, and fiduciary liability suits related to Ponzi schemes are poised to climb as well.
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Recession-Generated Layoffs Create EPL Hazards, Risk Managers Warned
Demand has been rising for employment practices liability insurance protection as layoff activity has sparked increased employee claims, an insurance brokerage expert warned.
Buyers Report
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Nanotechnology May Be Tiny, But Exposures Could Be Huge
Will nanotechnology be the next asbestos? Will it cause a similar flood of litigation and liabilities that have collectively cost companies hundreds of billions of dollars and driven many of them into bankruptcy?
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Emerging Nanotech Risks Challenging Insurers To Help Set Standards, Regulations
Nanotechnology is an emerging field with tremendous promise for producing new and innovative products that are safer, smarter and cleaner now and in the future.
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Newly Emboldened EEOC Makes Life Tougher For RMs On Employment Risks
Legal compliance is vitally important to organizations today, and "getting it right" from an employment law perspective is a business imperative.
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'Red Flags Rule' Looms On Identity Theft
As identity thieves continue to evolve their malicious craft, professionals in the risk management field are preparing for the implementation of the "Red Flags Rule."
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