January 30, 2006The Insurance Journal"Property insurance rates increased sharply in the fourth quarter of 2005, according to the RIMS Benchmark Survey by the Risk and Inurance Management Society Inc..."
January 27, 2006The Insurance Journal"A lack of meaningful tort reform in Florida has added unnecessary expenses to the insurance and healthcare industries in Florida, CFO Tom Gallagher told the Coral Springs, Fla. Chamber of Commerce Board of Trustees. One of two Republican candidates running for governor, Gallagher unveiled a detailed tort reform plan he claimed will 'fix Florida's broken civil justice system.'..."
January 26, 2006The Insurance Journal"Directors and officers liability insurance average premium index dropped another 9 percent in 2005 after dropping 10 percent in 2004, while half of all public and private companies have received D&O inquiries from their board members, according to the D&O Liability 2005 Survey on Claims and Insurance Purchasing Trends conducted by the Tillinghast business of Towers Perrin..."
"Early Solutions sites affordable"January 27, 2006By Katie MerxDetroit Free Press"Delores Tackett felt ill Thursday morning, so she took a short break from work and popped into the new Early Solutions Clinic at the Meijer store in Taylor..."
Publication Date: January 27, 2006Advisen -- Risk ManagementSource: Birmingham Post (UK)"For the last 14 years PricewaterhouseCoopers has produced an annual survey on financial management in law firms..."
Publication Date: January 26, 2006Advisen -- Medical MalpracticeSource: Palm Beach Post, The (FL) (KRT)"Jan. 26--A 10-doctor orthopedic group has called off plans to stop working at Palms West Hospital in Loxahatchee at the end of the month after the medical center agreed to help the doctors recruit two additional orthopedic surgeons to help work in the emergency room, the hospital said Tuesday..."
Publication Date: January 27, 2006Advisen -- PropertySource: St. Petersburg Times (FL) (KRT)"Jan. 27--A state audit released Thursday blasted Citizens Property Insurance as being poorly managed and wholly unprepared to handle thousands of hurricane claims the past two years..."
January 25, 2006The Insurance Journal"New reinsurance regulations proposed by the California Department of Insurance (CDI) are "unnecessary, burdensome and anti-market competition," according to comments filed by insurance trade associations at CDI hearings in Los Angeles yesterday..."
Publication Date: January 25, 2006Advisen -- HealthcareSource: Dow Jones News Service (DJNS, "Broad Tape")By Lisa LacyOf DOW JONES NEWSWIRES"NEW YORK (Dow Jones)--After a long incubation period, venture-capital investments in health-care information technology increased in 2005, in part because of recent initiatives from the federal government..."
Publication Date: January 26, 2006Advisen -- PropertySource: The Wall Street Journal (full text)(From THE WALL STREET JOURNAL)By Michael Schroeder"WASHINGTON -- Amid massive claims from last year's Gulf Coast hurricanes, the Senate Banking Committee is preparing to overhaul the federal flood insurance program, resulting in much higher premiums for many homeowners and a likely taxpayer bailout..."
Publication Date: January 26, 2006Advisen -- Insurance MarketSource: Dow Jones International Newswires(This story was originally published Wednesday)By Goran MijukOf DOW JONES NEWSWIRES"ZURICH (Dow Jones)--Leading insurance executives used the World Economic Forum in Davos to spread some much-needed cheer in their recently battered sector, saying Wednesday they expected stronger growth in 2006 and that they were starting to considering possible acquisitions..."
January 25, 2006The Insurance Journal"The Independent Insurance Agents & Brokers of America is throwing its support behind a study of the need for long-term federal terrorism insurance. The association backs a bipartisan bill introduced in the House of Representatives toward that end..."
January 24, 2006The Insurance Journal"Although the overall commercial property/casualty marketplace has seen little impact from the severe 2005 hurricane season, coastal property is experiencing a sharp increase in prices for wind and flood coverage, according to the latest Commercial Insurance Market Index Survey by The Council of Insurance Agents & Brokers..."
January 23, 2006The Insurance Journal"The Ohio Department of Insurance recently announced that years of escalating premiums for medical malpractice insurance for the state's doctors may be ending..."
January 23, 2006The Insurance Journal"New York State Superintendent of Insurance Howard Mills defended contingent commissions and reported progress in moving his regulatory agency toward risk-based market conduct reviews of insurers..."
Publication Date: January 23, 2006Advisen -- RegulationSource: Bestwire Service"OLDWICK, N.J. (BestWire) - A push by property/casualty insurers to loosen rate-approval regulation and the prospect of discussions in Washington about an optional federal charter have spurred more states to enact rate-modernization laws in recent years. This year is no exception..."
Publication Date: January 23, 2006Advisen -- PropertySource: Bestwire Service"LONDON (BestWire) - When pirates attacked the luxury cruise liner Seabourn Spirit off the coast of Somalia in November 2005, London insurers took note..."
Publication Date: January 23, 2006Advisen -- CasualtySource: Dow Jones News Service (DJNS, "Broad Tape")"ARMONK, N.Y.--(BUSINESS WIRE)--Jan. 23, 2006--"Today IBM announced the contents of its 2005 Global Business Security Index Report and provided an early look at potential security threats in 2006. Based on early indicators, IBM anticipates a fundamental shift, or evolution, in cybercrime from pervasive global outbreaks to smaller, stealthier attacks targeted at specific organizations for extortion purposes..."
January 23, 2006The Insurance Journal"Although the overall market trends in both pricing and terms and conditions will not be fully developed until the July 1, 2006, Florida renewals are complete, and Standard & Poor's says it is concerned that the improvements in pricing and coverage terms might not be as significant as previously anticipated..."
January 23, 2006The Insurance Journal"While most companies are well aware of the threats "cyber crime" poses to their computer systemsand data bases, many of them remain unaware of the availability of coverage to help deal with the damages caused by attacks after they've occurred..."
January 23, 2006The Insurance Journal"Florida is experiencing artificially suppressed markets and insurance rates, which is not a long-term solution for the insurance problems the state is encountering, according to Kevin McCarty, insurance commissioner..."
By Dave KaiserJanuary 23, 2006The Insurance Journal"Solving Citizens Property Insurance Corp.'s problems, encouraging new insurers to enter the Florida market and lowering property insurance rates were debated by candidates for governor of Florida during a Jan. 20 forum for candidates held during the Florida Association of Realtors mid-winter business meetings in Orlando, Fla..."
January 23, 2006The Insurance Journal"A patient safety group in Connecticut is pushing for a law that would require hospitals to track and publicly disclose cases of infections contracted in hospitals..."
Publication Date: January 21, 2006Advisen -- Insurance MarketSource: Risk Management"Recent court decisions broadly construing the 1993 Insurance Services Office (ISO) Additional Insured Endorsement--which extends coverage to an additional insured in situations where he or she was solely negligent--have prompted ISO to revise this endorsement to require at least partial fault on the part of the named insured. But how much has this revision really helped to control moral hazard? In the case of the construction industry, where moral hazard has contributed to an unusually high incidence of worker injuries, amending anti-indemnification statutes to close the additional insured loophole is the only viable way to control moral hazard..."
Publication Date: January 19, 2006Advisen -- Medical MalpracticeSource: New York Law JournalBy Mark Fass"A SPLIT state appeals panel has reinstated a case filed on behalf of a man who died from hepatitis C, holding that a doctor's allegedly misleading statements about how the man contracted the disease tolled the statute of limitations..."
Publication Date: January 19, 2006Advisen -- PropertySource: PR Newswire Europe (inc. UK Disclose)"MIAMI, Jan. 19 /PRNewswire/ -- James Lee Witt, former FEMA director and co-chair of ProtectingAmerica.org, today told the members of the Task Force on Long-Term Solutions for Florida's Hurricane Insurance Market that there is an urgent need for a comprehensive, national response mechanism for catastrophes that would include a national catastrophe fund..."
Publication Date: January 18, 2006Advisen -- ReinsuranceSource: Business Insurance"Market capitalization losses-a major impetus behind directors and officers liability claims-have been markedly lower in recent years and fell substantially in 2005, but that does not set the stage for an extended run of stability in D&O insurance rates, experts say..."
January 18, 2006The Insurance Journal"Dublin-based Research and Markets has announced the addition of a 'Global Insurance' study to their offering..."
January 18, 2006The Insurance Journal"Independent insurance agents approached the criticisms from New York Attorney General Eliot Spitzer and other officials with a measured game plan that has worked to preserve contingency commissions in agencies across the country..."
January 18, 2006The Insurance Journal"Insurers that write monoline farm policies and incidental professional liability coverage may face additional work to clarify coverage for their insureds under the federal terrorism reinsurance program..."
Publication Date: 01/17/2006Advisen -- ReinsuranceSource: Business Wire"LONDON--(BUSINESS WIRE)--Jan. 17, 2006--Last year's unprecedented catastrophe losses had an uneven impact on pricing and capacity at 2006 reinsurance renewals, according to a comprehensive report published today by Benfield, the world's leading independent reinsurance and risk intermediary..."
Publication Date: January 17, 2006Advisen -- Medical MalpracticeSource: Tampa Tribune (FL) (KRT)"Jan. 17--TAMPA -- Florida lawyers may have discovered a way to make more money on medical malpractice lawsuits..."
Publication Date: January 17, 2006Advisen -- Management LiabilitySource: BestWire Services"The lingering effects of corporate scandals in the United States are likely to create a positive bounce this year for directors and officers underwriters..."
January 17, 2006U.S. Newswire"To: Assignment Desk, Daybook Editor, Medical Reporter"Contact: Laddavanh Vannavong, 312-202-5329; or Debrah Greene, 312-202-5391; both of the American College of Surgeons, Web: http://www.facs.org"News Advisory:"The 1999 Institute of Medicine Report (IOM), 'To Err is Human: Building a Safer Health System,' indicated an even more pressing need for organized medicine to make patient safety its top priority in our health care delivery system. The report concluded that anywhere from 44,000 to 98,000 Americans die each year from medical errors. While patient safety has always been a primary concern for surgeons, this IOM report has provided strong impetus for a variety of new initiatives in the area of surgical patient safety since its release over six years ago. In fact, surgeons have been looking outside their profession for new ideas, and they have found an excellent source from a very well-recognized group of safety experts: airline pilots..."
Publication Date: January 16, 2006Advisen -- ReinsuranceSource: Bestwire Service"TALLAHASSEE, Fla. (BestWire) - Florida Insurance Commissioner Kevin McCarty has a lot on his plate."With southern Florida still sweeping up after Hurricane Wilma inflicted an estimated $6.1 billion of insured losses in October -- on top of the $19 billion in losses caused by hurricanes Charley, Frances, Ivan and Jeanne in 2004 -- it's no surprise to see weather-worn McCarty leading the pack of state regulators who seek a multilayered plan to insure homeowners against natural catastrophe risk...."
Publication Date: January 16, 2006Source: Advisen -- Insurers"(New York) - Lloyd’s of London unveiled its three-year strategy on Monday with the release of Building The Optimal Platform, a document which, according to Lloyd’s Franchise Board Chairman Peter Levene, 'sets out the key benefits and the work needed over the next three years to build the Optimal Platform' for the venerable insurance market. In the Introduction to the report, Lord Levene describes the 'Optimal Platform' as one that results in Lloyd’s being easy to do business with, financially stable, profitable, and competitive..."
"Factors such as reduced payments and insurance make recruiting difficult""Part two of a three-part series"By Helen Altonnhaltonn@starbulletin.comHonolulu Star Bulletin"Stan Berry, chief executive of the North Hawaii Community Hospital on the Big Island, said he shudders 'every time there's a rodeo in Waimea, a keiki bike event or an Ironman competition.'..."
By Brad ShannonJanuary 14, 2006The Olympian"Two months after voters rejected a pair of high-powered medical malpractice initiatives, House lawmakers moved their lawyer-backed “Plan B” alternative out of committee Friday on a largely partisan vote...."
January 13, 2006The Insurance Journal"Urging residents to make disaster preparedness and insurance readiness a top priority, California Insurance Commissioner John Garamendi and FEMA officials cautioned Sacramento County residents, Friday, to take proactive steps to prepare for the next inevitable natural disaster..."
Publication Date: January 15, 2006Advisen - Medical MalpracticeSource: Associated Press Alert"PHOENIX_Attorneys and law firms are writing checks as large as $100,000 in anticipation of a possible election battle over medical malpractice lawsuit limits which Arizona doctors may try to put on the November ballot...."
Publication Date: January 12, 2006Advisen -- BrokersSource: PR Week UK"Britain's insurance brokers have called in fresh public affairs and PR support as the industry seeks to bolster its reputation among government and public..."
January 12, 2006The Insurance Journal"A paper issued Thursday by Americans for Insurance Reform (AIR) is 'untrue, irresponsible and reckless,' according to the American Insurance Association (AIA)..."
By Andrew G. Simpson, Jr.January 11, 2006The Insurance Journal"Political resistance to new government programs, a pullback in support from the Bush Administration, even some "blue" versus "red" politics were among the forces that got in the way of timely renewal of the federal terrorism reinsurance program, according to a leading insurance lobbyist in Washington..."
January 9, 2006The Insurance Journal"Usually saying 'I'm sorry' means good things for the person that says it. However when a physician says 'I'm sorry,' it could mean big trouble down the road in the court system..."
January 9, 2006The Insurance Journal"A 'Natural Catastrophe Risk Plan' drafted by the National Association of Insurance Commissioners has the potential to 'damage private insurance markets and exacerbate the very problems it seeks to correct,' warned the National Association of Mutual Insurance Companies in comments submitted to the NAIC over the weekend..."
Publication Date: January 9, 2006Advisen -- Insurance MarketSource: Business Wire
"OLDWICK, N.J.--(BUSINESS WIRE)--Jan. 9, 2006--Despite the solid results posted for the first half of 2005, the U.S. property/casualty industry recorded an underwriting loss of $2.8 billion through September 2005, down from the $13.3 billion profit the industry experienced in the first six-months of 2005, according to a recent study by A.M. Best Co. The underwriting loss is primarily due to third-quarter U.S.-insured catastrophe losses that contributed to an estimated total of $31.7 billion through the first nine months of 2005, the industry's worst nine-month period ever. This underwriting loss also represents a $6.2 billion change of direction when compared with the results reported during the comparable period of 2004, when the industry turned a $3.4 billion profit..."
Publication Date: January 6, 2006Source: Medical Malpractice Law & Strategy"Medical Malpractice Law & Strategy:Suits Against Health Care Employers""Negligent Hiring"By Michael Brophy"Liability claims against health care facilities, including hospitals and nursing homes, often include claims of negligent hiring, supervision and/or credentialing in addition to the "traditional" theories of medical malpractice litigation. For many years, state courts debated whether a hospital's alleged acts in credentialing physicians fell within the scope of the "treatment and care" of patients. While the majority of jurisdictions now appear to recognize private causes of action against a health care facility based upon alleged improper hiring, retention or credentialing of professional staff, there is no uniformly accepted standard of care nationwide. Accordingly, specialists and the occasional practitioner in this litigation field are equally well advised to monitor the developing common law of their jurisdiction in the litigation of cases presenting such claims..."
Publication Date: January 6, 2006Advisen -- Medical MalpracticeSource: Medical Malpractice Law & StrategyMedical Malpractice Law & Strategy"In the Aftermath of Katrina:Overview of Good Samaritan Law in Louisiana and Mississippi"By Lawrie Demorest and Josh Becker"In the aftermath of Hurricane Katrina, people from all walks of life and from all corners of the world want to reach out to do what they can to help the victims of this unfathomable disaster. Schoolchildren are raising pennies to help those in need while relief organizations send supplies from all regions of the country. On the ground where this disaster struck in Louisiana and Mississippi, however, thousands of caring individuals have been providing emergency first aid and medical care to their neighbors in need. When licensed health care workers respond to the urgent needs of the hurricane's victims, what kinds of liability might they be opening themselves up to? ..."
Publication Date: January 6, 2006Advisen -- Medical MalpracticeSource: Associated Press Alert"INDIANAPOLIS_A state legislator said his bill to prevent apologies or statements of sympathy from being used in lawsuits stems from reports of doctors being afraid to say much to their patients for fear they might get sued..."
January 5, 2006The Insurance Journal"Record catastrophe losses will weigh heavily on 2005's underwriting results, pushing what would have been the industry's largest underwriting profit ever into a loss situation, according to the Insurance Information Institute's recent Earlybird Forecast Survey..."
January 5, 2006The Insurance Journal"A survey, commissioned by the General Insurance Market Association (GIMRA), which queried 500 small and medium-sized businesses (SME's), has determined that they continue to have confidence in traditional insurance brokers..."
January 5, 2006The Insurance Journal"A leading U.K. intelligence expert and a specialist in terrorist underwriting at Hiscox Plc have warned that the threat of terrorism will not diminish in the year ahead with the continued potential for attacks around the world..."
January 4, 2006The Insurance Journal"The Treasury Department issued interim guidance to assist the insurance industry in meeting new requirements for the Terrorism Risk Insurance Program..."
Publication Date: January 4, 2006Advisen -- Management LiabilitySource: Ascribe Newswire"CHICAGO, Jan. 4 (AScribe Newswire) -- The Sarbanes-Oxley corporate governance law is adding up to more work for accounting firms -- and more college students majoring in accountancy to fill the demand for accountants..."
Publication Date: January 4, 2006Source: Advisen -- Insurance Market"Risk Burden for Insurance Industry Has Increased but TRIA Continues to Provide Vital Protection Against Extreme Losses""Newark, Calif. - January 4, 2006 - Risk Management Solutions (RMS) recently performed a number of analyses for the Congressional Budget Office (CBO) to assess the absolute risk of terrorism and quantify how the terms of the December 2005 renewal of the Terrorism Risk Insurance Act (TRIA) would shift the relative share of the risk from the government to the insurance industry..."
January 4, 2006The Insurance Journal"A bulletin on the Lloyd's Website (www.lloyds.com) reminds companies of the importance of having sufficient coverage in force to handle potential recalls of the consumer products they sell..."
January 3, 2006The Insurance Journal"The U.S. Department of Homeland Security's Federal Emergency Management Agency (FEMA) this week authorized the use of federal funds from the Nation's Disaster Relief Fund to help Texas, Oklahoma and New Mexico fight 17 fires burning in those three states..."
January 3, 2006The Insurance Journal"Five years after the latest medical malpractice insurance "crisis'' began to roil Pennsylvania and other parts of the nation, some say a balance has returned to the system here..."
January 3, 2006The Insurance Journal"At least six states are likely to advance rate modernization initiatives this year, a legislative preview prepared by the National Association of Mutual Insurance Companies (NAMIC) reveals..."
January 3, 2006The Insurance Journal"Insurers including those writing farm and crime coverages that use programs developed by the American Association of Insurance Services will require no immediate changes to existing endorsements and other materials to comply with the recent extension of the federal terrorism reinsurance backstop..."
Publication Date: January 3, 2006Advisen -- Medical MalpracticeSource: Bestwire Service"WASHINGTON (BestWire) - Insurers have until Jan. 31 to offer terrorism insurance to those policyholders whose coverage was scheduled to lapse in connection with the anticipated Jan. 1 expiration of the federal Terrorism Risk Insurance Act, according to interim guidance provided by the U.S. Department of the Treasury..."
