Corporate Risk

Hurricane season is imminent, but one Florida developer can rest easy, knowing that his corporate tenants are well prepared for just about anything Mother Nature has to offer.

With new coverages evolving and the SEC setting its sights on increased enforcement activities, specialty insurance coverage for regulatory investigations is a hot topic among buyers and sellers of management liability insurance. Brokers assess the options and price trends.

Unlike last year’s flood of “pre-claim inquiry” offerings that focused on coverage for the investigation-response costs of individual executives and directors, Chartis’ new “Investigation Edge” offering, a standalone policy introduced in March, addresses corporate costs, including the massive expenses associated with producing documents required by the Securities & Exchange Commission.

For public companies navigating the continuing fallout from the global financial meltdown, dealing with regulatory investigations is about as inevitable as death and taxes. D&O insurance products are evolving to cover some of the costs.

A German insurance company says it organized an orgy with prostitutes in a renowned Hungarian spa to reward its best salesmen.

The National Oceanic and Atmospheric Administration says it expects 12-18 named storms during the 2011 Atlantic hurricane season, which begins in less than two weeks.

Organizations facing a growing number of global crises are wary of breaks in their supply chain, stockpiling critical items and commodities, and sometimes resorting to “panic buying,” according to a risk-management expert.

Hartford Financial Services Group Inc. said Tuesday that its chief risk officer will retire in the fourth quarter of this year and it is launching a search for a successor.