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Use Massmanns mug with FC&S, if possible

terrorism Regulations

Depending on state law, insurance companies are not required to make ter-rorism insurance available for all types of risk, including nuclear, biological or chemical events, according to interim guidance on the Terrorism Risk Insurance Act released last week by the Treasury Department…5

Terror Refunds?

The Consumer Federation of America believes businesses with current terror coverage should demand immediate refunds of 40-to-50 percent of their premiums, basing the recommendation on an actuarial analysis by CFA Director of Insurance J. Robert Hunter……5

Re Brokers

Reinsurance brokers, Benfield Group Limited and Towers Perrin Reinsurance are following new strategic paths, with Benfield planning an initial public of-fering and Towers Perrin acquiring Denis M. Clayton & Co..6

federal chartering

The House Financial Services Committee next year is likely to consider alternative approaches to insurance regulatory reform, such as federal minimum standards, before seriously examining optional federal chartering, industry representatives say..12

regulatory reform

In 2003, insurance industry groups will be focusing on a wide variety of regulatory issues, from implementing the federal terrorism reinsurance backstop legislation to beating back efforts to limit the use of credit history in underwriting.14

FC&S On Lines

Susan Massmann of the FC&S Bulletins looks at the implications of the new Terrorism Risk Insurance Act on insurer policy disputes. She warns that the law is far from clear about how coverage is to be interpreted. .18

litigation

Insureds and their brokers can minimize the potential for rescission of an insurance policy by simply exercising greater care to ascertain the accuracy of underwriting information and by providing all material information to insurers, one expert witness contends..21

risk management

Monitoring insurer financial strength is no longer an annual exercise for risk managers, “its constant,” warned one leading broker during a recent panel discussion on “The Slippery Slope of Rating Downgrades: Will the Insurers Writing Your Risks Today Be Around to Pay Your Claims Tomorrow?”..20

counterpoint

J. Robert Hunter of the Consumer Federation of America responds to two recent NU opinion pieces and a letter to the editor challenging his conclusions about the causes behind the medical malpractice insurance crisis24

Next week

National Underwriter presents a “Technology Trends” special report focusing on data storage issues, along with the annual “Events 2003″ supplement listing all the industrys major meetings.

Marketplace…22

Classifieds…23

Editorial..24

Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, December 8, 2002. Copyright 2002 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.