New IRMI Information in Your SilverPlume Library:

November 2006

Six reference manual updates as well as new issues of The Risk Report and Captive Insurance Company Reports (CICR) have been added to the IRMI infobases.

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Newsletters & Journals

In response to requests from subscribers, we are now making an Adobe Acrobat version (PDF file) of the current issue of each of our newsletters available each month. This will allow you to quickly and easily print an attractive copy to toss in your briefcase and read at your leisure.

The November 2006 issue of The Risk Report,"Managing Blog Risks," Kevin M. Quinley describes blogs (both personal and corporate), loss exposures arising from blogs, risk control for blogging exposures, and available insurance. In addition, employment law issues, personal liability, defamation risks, and IT perils are also discussed.

The November issue of Captive Insurance Company Reports (CICR), begins with "Reinsurance Outlook," a review of Moody's recent report on the financial outlook of the reinsurance industry. In it, the amounts of fresh capital raised since 2004 from existing insurers, start-up reinsurers, reinsurance sidecars, and catastrophe bonds are discussed. The industry's many strengths and opportunities are outlined, and its weaknesses and challenges are listed as well. The article also discusses the North American market along with issues pertaining to collateral, state-based versus federal regulation, Bermuda, and Europe. CICR concludes its 2006 series of articles on captives writing employee benefits with "A Role for Captives in Pension Financing," written by Mitch Cole of Towers Perrin. In "Terrorism and Captives Update," the issues pertaining to using a captive to write terrorism (should TRIA not be extended beyond 2007 as expected) are discussed. Hugh Rosenbaum continues his review of the recent Luxembourg Rendezvous, with a piece discussing the Solvency I, II, and IFRS standards in Europe. "Heard from Ireland," written by David O'Connor of Towers Perrin in Dublin, discusses how the Irish are implementing the EU reinsurance directives.

Reference Manuals

Classification Cross-Reference has been updated to include recent changes in classification codes.

Commercial Liability Insurance continues the substantial revision to section XI, The Umbrella Policy, that was begun in the last supplement. Also included in this supplement is an overview of nonstandard additional insured endorsements developed by individual insurers to broaden or (more frequently) narrow the coverage found in standard additional insured endorsements CG 20 10 or CG 20 33. The online Topical Index has been updated to reflect this new material.

D&O MAPS has been expanded to include the following policies and analyses.

Levine on California Workers Compensation presents the fall issue of the quarterly newsletter, California Workers Compensation Premium Reporter. This issue reports on a recent decision by the Workers Compensation Insurance Rating Bureau (WCIRB) to exclude data that had been submitted by AIG for use by WCIRB in its rate making process. The exclusion of the AIG data resulted in an additional 5 percent reduction in the rates proposed for use effective January 1, 2007. The issue also discusses whether or not judges understand the workers compensation premium system and provides information on the regulations proposed for deductible policies.

Pollution Coverage Issues benefits from a substantially revised section 5, which deals with coverage triggers. The nonenvironmental cases have been purged from section 5 and it now focuses exclusively on coverage trigger decisions in the environmental context. To that end, excerpts from 13 new pollution coverage trigger cases were added. In the enclosed new edition of the Environmental Insurance Newsletter, IRMI research analyst Rich Scislowski, JD, explores the potential reduction of environmental liability exposure after the Supreme Court's decision in Rapanos v. United States, 547 U.S. ___, 126 S. Ct. 2208, 165 L. Ed. 2d 159 (2006).

Professional Liability Insurance contains a newly revised managed care section. It consists of two separate discussions, one addressing the professional liability exposures to which managed care organizations (MCOs) are subject, and another analyzing the insurance policies that have been designed to cover these exposures. Also in the supplement is a revised hospital professional liability discussion, covering the complex issues related to this coverage. An updated Topical Index is included as well.

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