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R&I One : Sept. 20, 2011
In this issue: Sports travel risk highlighted by Russian hockey team plane crash; Drillers try to understand coverage for natural gas fracking; Reinsurers at Monte Carlo gathering talked about higher rates; BP's poor decisions blamed for oil spill; Rogue trader exposes risk management failures; and more. R&I One®
To read this on the Web, click on http: http://www.riskandinsurance.com/story.jsp?storyId=533341547 ............................................................ Sponsor: ............................................................ ------------------------------------------------------------ NEWS & ANALYSIS ------------------------------------------------------------ Hockey Team Plane Crash Highlights Sports Travel Risks With all 44 members of a Russian professional hockey team killed in a recent plane crash, risk management in sports has come to the forefront. http://www.riskandinsurance.com/story.jsp?storyId=533341549 Liability, Claims Issues Surfacing Carriers, gas drillers and explorers try to determine where coverage in natural gas hydrofracking cases may lie. http://www.riskandinsurance.com/story.jsp?storyId=533341548 Reality Checks at Monte Carlo Reinsurers talk of higher rates, while brokers argue prices likely to move sideways or soften. http://www.riskandinsurance.com/story.jsp?storyId=533341459 More News & Analysis Stories »http://www.riskandinsurance.com/commentaryanalysissummary.jsp ............................................................ Sponsor: ............................................................ ------------------------------------------------------------ EDITOR'S CHOICE STORIES ------------------------------------------------------------ Poor Management Decisions by BP, Others Blamed for Gulf Oil Spill (Associated Press) http://www.riskandinsurance.com/story.jsp?storyId=533341542 UBS Case Latest Failure of Risk Management (CBC News) http://www.riskandinsurance.com/story.jsp?storyId=533341542 Insurers Report Record Claims from Texas Wildfires (Houston Chronicle) http://www.riskandinsurance.com/story.jsp?storyId=533341542 The Oddest Insured Things (Bloomberg Businessweek) http://www.riskandinsurance.com/story.jsp?storyId=533341542 Pirates Hijack a Fuel Tanker off West Africa (New York Times) http://www.riskandinsurance.com/story.jsp?storyId=533341542 More Editor's Choice Stories » http://www.riskandinsurance.com/editorschoicesummary.jsp ------------------------------------------------------------ UPCOMING EVENTS ------------------------------------------------------------ Insurance Education and Career Summit (Sept. 26-28) The Griffith Foundation will hold the Insurance Education and Career Summit, titled "A Collaborative Effort to Engage the Next Generation." This brainstorming session will address the critical need for new and young talent to enter the insurance industry. It will be held at the University of Georgia's Terry Executive Education Center in Atlanta. More information: The Griffith Foundation, http://riskcentral.com/event/insurance-education-and-career-summit-by-the-griffith-foundation.html California Workers' Compensation & Risk Conference (Sept. 26-28) Top risk professionals in the Golden State to share expertise and experience and participate in educational panel discussions and networking opportunities. The event, put on by the Risk Management Education Associates, will take place at the St. Regis, Dana Point, Calif. More information: Risk Management Education Associates, http://riskcentral.com/event/national-workers-compensation-and-disability-conference-expo-4d25d8c116430.html ------------------------------------------------------------ PEOPLE ON THE MOVE ------------------------------------------------------------ Brokers REBECCA E. STEEL has been named vice president of facultative reinsurance at Cooper Gay Re. She reports to Swett & Crawford executive vice president Ed Magliaro and will be based in New York. A veteran reinsurance executive with extensive experience both in the United States and in her native England, Steel most recently was vice president of facultative and reinsurance property for Mercator Risk Services. Other notable moves - PHILIP O'BRIEN - RICHARD S. MAXWELL - DARREN BLACK - ROBYN WELCH - BOBBI CURRY - KELI TOMACK Read More »http://www.riskandinsurance.com/story.jsp?storyId=533341543 Insurance AXIS Capital Holdings Limited announced that BRUNO KRENBOECK has joined AXIS Re as Marketing Director for Latin America. He most recently served as a Director at Swiss Re and has over 17 years experience in the international insurance industry with specific expertise in marketing and underwriting businesses in Latin America. In his new role at AXIS, Bruno will be based in the Company's Zurich office, which now replaces Bermuda as the center of Latin American operations for AXIS Re. AXIS Re's Caribbean operations will continue to be run from Bermuda. Other notable moves - SUSAN KOSTRO - STEPHEN YOUNG - CHRISTOPHER SCHAPER - ANDREW A. McELWEE JR Read More »http://www.riskandinsurance.com/story.jsp?storyId=533341544 Specialists THERESA G. EDWARDS has been named national healthcare industry practice leader at Wells Fargo. In her role, she will lead business development for the healthcare segment, specifically focusing on property and casualty and employee benefits. As demand for streamlined and cost-efficient insurance solutions increases, Edwards will leverage cross-sell initiatives to serve the insurance needs of existing Wells Fargo customers. Wells Fargo Insurance Services has a strong focus on cross-selling to the bank's wide customer base. Today, 30 percent of new business comes from cross-sell, with goals to increase it to 50 percent in the next three years. Other notable moves - RONALD YOUNG - REID FRENCH - JAMES P. KELLNER Read More »http://www.riskandinsurance.com/story.jsp?storyId= 533341545 ------------------------------------------------------------ FEATURED WHITE PAPERS ------------------------------------------------------------ White Papers Provided by: Risk Central Find More White Papers ------------------------------------------------------------ NEW PRODUCT ANNOUNCEMENTS ------------------------------------------------------------ Coverages Momentous Insurance Brokerage: Announced the launch of their Nightlife Division, a dedicated insurance unit for nightlife entertainment. Victor O. Schinnerer & Co.: Announced that it's offering the state of California a group of policy enhancements to the Architects, Engineers & Consultants professional liability policy form. Resources Buildfax and DataVerify: Jointly announced that they are prepared to help lenders meet the property improvement validation requirements outlined in the Uniform Appraisal Dataset, offering a completely automated solution for validation of property improvements. Guy Carpenter & Co.: Released a report called Succeeding Under Solvency II ? A Guide to the New Industry Landscape, the newest update in the firm's series on Solvency II preparedness. Technology Philadelphia Insurance Companies: Now offers online quotes for Special Events insurance coverage. Trillium Software: Announced today an agreement with Air Worldwide to provide more precise geocoding through the integration of Trillium Software's geospatial capabilities with AIR's catastrophe modeling application. Read More »http://www.riskandinsurance.com/story.jsp?storyId= 533341546 ------------------------------------------------------------ COLUMNISTS ------------------------------------------------------------ Technology Patricia Vowinkel: Welcome to the 'Big Data' Era Vast amounts of data are created every day, resulting in a massive stockpile of valuable business intelligence that businesses would love nothing more than to be able to mine. MORE »http://www.riskandinsurance.com/story.jsp?storyId=533341310 Risk Innovation Christopher E. Mandel: Ratings, Risk and Ostriches The seven days of stock market trading after the Standard & Poor's downgrade of the United State's credit rating was made public was the most volatile in years. After weeks if not months of doomsday predictions of the downgrade's effect, it appears to be one with short-term impact. Or is it? MORE »http://www.riskandinsurance.com/story.jsp?storyId=533341311 ------------------------------------------------------------ FEATURES ------------------------------------------------------------ Creativity and Execution on Display Risk innovators deliver results with breadth and depth. MORE »http://www.riskandinsurance.com/story.jsp?storyId=533341313 A Shift in the Program? The largest for-profit colleges have D&O programs with $75 million to $100 million in limits over deductibles of $1 million to $5 million. Even if insurers shy away from writing primary layers, the market is competitive. http://www.riskandinsurance.com/story.jsp?storyId=533341406 September 20, 2011 Copyright 2011© LRP Publications |
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