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R&I One®: Jan. 13, 2009
Dear Subscriber, Welcome to the first issue of the weekly R&I One e-newsletter, which starting today is the only e-newsletter we will send you. Readers told us that they don't want to get so much e-mail, so we have condensed all of our e-newsletters into this new format and added some great new features. As always, we appreciate your feedback so send us any and all about the R&I One.
------------------------------------------------------------ In this issue: Who won the inaugural brokerage contract, Ironshore on a hiring spree,AIG exec moves, more on reinsurance and insurance pricing, columns on poaching and expectations for 2009, and features on ADR clauses and supply chain management. ............................................................ Sponsor: Dempsey Partners We know what's on the line. ............................................................ ------------------------------------------------------------ COMMENTARY & ANALYSIS ------------------------------------------------------------ Marsh Inc. has been chosen to handle the insurance for the Jan. 20 inauguration of President-elect Barack Obama, according to insurance industry sources. ------------------------------------------------------------ A 2006 Bermuda startup takes advantage of hiring opportunities and poaches top executive talent from AIG. ------------------------------------------------------------ AIG Alone in Leading Price War? Will AIG's attempts to hold onto market share prolong the soft market? ------------------------------------------------------------ Down Market to Cost Reinsurance Buyers U.S.-based buyers of property programs can expect their January 2009 reinsurance renewals to go up by an average of about 11 percent in 2009. ............................................................ Sponsor: 2009 Risk & Insurance Power Brokers The nominations are in. The judges have decided. We have found the best. ............................................................ ------------------------------------------------------------ EDITOR'S CHOICE STORIES ------------------------------------------------------------ Risk managers remain bit players at banks (Financial Week) Insurers face bribery crackdown after Aon fine (Financial Times) Why did the SEC fail to spot the Madoff case? (Reuters) Blown Over: Galveston and Texas Gulf Coast Struggle After Hurricane Ike (Dallas Observer) Help in Hot Spots (New York Times) ............................................................ Sponsor: FM Global A Major Tornado. An Auto Race That Couldn't Be Stopped. Insurance Evolved.FM GLOBAL ............................................................ ------------------------------------------------------------ NEXT WEEK'S EVENTS ------------------------------------------------------------ The 2009 Winter Conference of the Group Underwriters Association of America will feature more than 20 workshops, a keynote speech by politico Amy Holmes, and ample opportunity to network and speak with exhibitors. The event will take place at the Renaissance Vinoy Resort and Golf Club in St. Petersburg, Fla. St. John's University 14th Annual Insurance Leader of the Year Award Dinner The "Insurance Leader of the Year Award," presented annually since 1995, recognizes the contributions of outstanding individuals whose leadership in the worldwide insurance and financial services industry sets them apart from their peers. This year, St. John's University's School of Risk Management plans to honor Gregory C. Case, president and CEO of Aon Corp. ------------------------------------------------------------ PEOPLE ON THE MOVE ------------------------------------------------------------ Brokers CLIFF SIMPSON joined Beecher Carlson as a senior managing director and national team leader for the firm's property practice. Prior to joining Beecher Carlson, Simpson served as executive vice president and national practice leader for Willis HRH's North American Property Practice. Prior to that, Simpson served as executive vice president of HRH's National Property Practice. Other notable moves ------------------------------------------------------------ Insurance JOE BOREN joined Ironshore Inc. as CEO of the company's newly established environmental insurance facility. Boren was formerly chairman and CEO of AIG Environmental, where he worked for the last 13 years. Prior to AIG, he worked for 25 years in the environmental industry. Other notable moves ------------------------------------------------------------ International ADAM GARRARD was appointed chief executive officer of Willis Continental Europe. He will assume responsibility for Willis' Continental Europe operations, covering 25 offices in Germany, the Netherlands, Switzerland, Austria and the Nordic countries. Garrard has been with Willis since 1994 and most recently served as chief executive officer of Willis Australasia for the last three years. Previously he was CEO of Asia. Other notable moves ------------------------------------------------------------ BROKER ACCOUNT WINS ------------------------------------------------------------ Marsh: Presidential Inauguration Wells Fargo Insurance Services: Golden Gate Bridge Highway & Transportation District Know of an account win? Please let us know. ------------------------------------------------------------ NEW PRODUCT ANNOUNCEMENTS ------------------------------------------------------------ - Great American Insurance Group: Builders' Risk Green Extension Endorsement - Zurich: Better Green property endorsement ------------------------------------------------------------ - Fireman's Fund: retailer payment card breach - Wausau Insurance/Creative Agency Group: National Club Insurpak policy - ASPN: grower/farmer product withdrawal and rejection ------------------------------------------------------------ - Lead360: insurance sales lead management - The Network Inc.: ReportLine 3.0 - The Hartford/Intuit Payroll: XactPAY Web - ISO: XactAnalysis/ClaimSearch ------------------------------------------------------------ COLUMNISTS ------------------------------------------------------------ THOMAS J. SLATTERY: Tearing up Your Script You can just tear up whatever script you may have imagined a few months ago for the property/casualty insurance business in the coming year. ------------------------------------------------------------ PHILIP G. KIRCHER: Bad Economy Spawns 'Poaching' Lawsuits Lawsuits over employees leaving with trade secrets and confidential information have become quite common. Our country's slumping economy has only increased the pace and intensity of what have become known as "poaching" lawsuits. ------------------------------------------------------------ FEATURES ------------------------------------------------------------ The Uneasy Relationship Between Liability Policies and ADR Clauses ADR clauses are meant to help when disputes arise among parties in construction and real-estate projects. Yet these good intentions could cost them their liability insurance proceeds?unless they know how to carefully draft and invoke the clauses. ------------------------------------------------------------ Managing Supply Chain Risk During a Recession It's not easy to keep global supply chains running smoothly even in the best of times. But now, as many of the world's economies sink into a recession and the financial crisis deepens, supply chains are likely to come under even greater stress. ------------------------------------------------------------ To unsubscribe, send an email to: unsubscribe-55786@elabs3.com with the address: mbrodsky@lrp.com in the subject line. January 13, 2009 Copyright 2009© LRP Publications |
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