New IRMI Information in Your SilverPlume Library:
April 2007
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 April
2007 issue of The Risk Report, "Bring
Counsel to the Strategic Risk Management Table," is written by Jonathan Bennett.
In it, he examines the peripheral role counsel are often compelled to play and
the reasons why actively involving counsel in entity-wide strategic planning,
the analysis of risks, and the decision-making that flows from that process
may substantially enhance business success.
The April 2007 issue of Captive Insurance Company
Reports (CICR) leads with the second of three articles that discuss the type
of claim infrastructure a captive insurer should consider. "Healthcare
Providers and Captives" updates readers on changes in the medical malpractice
area, especially as it relates to captives insuring physicians in private practice.
Finally, "Employee
Benefits Update" relates several case studies from the recent World Captive
Forum.
Reference Manuals
Classification
Cross-Referencehas been updated to include recent changes in classification
codes and improved cross-referencing to NAICS codes.
Contractual Risk Transfer expands the
discussion of additional insured status under the CGL policy (section
XI.C) to address a number of coverage issues. The discussion of language
found in nonstandard additional insured endorsements is also expanded in this
supplement, providing additional
examples of "sole negligence of the named insured" requirements, including court
interpretations of such language, and discussing nonstandard
language that provides additional insureds with completed operations coverage.
Also added to this supplement are additional examples of "who is an insured" language in umbrella and excess liability policies.
D&O MAPS has been expanded to include
the following policies and analyses:
IRMI Workers Comp contains a complete
update of the sections relating to residual
markets, state
funds, and competitive
funds. Also included in this supplement are updated materials pertaining
to state-specific
workers compensation endorsements, experience
rating modifier premium qualification thresholds, state workers compensation benefit
summaries, and payroll
limitations for sole proprietors, partners, executive officers, and limited
liability company members.
Practical Risk Management updates two
topics (Topic
A-1 and Topic
A-2) about the risk management function, two topics about business continuity
management (Topic
D-18 and Topic
D-5), and coverage topics for auto liability; property in your care, custody,
or control; and the Longshore
and Harbor Workers Compensation Act. This issue of Risk Management Notes provides an overview
of pandemics and considerations for planning
for an influenza pandemic. It also looks at the new broker
compensation models announced by Chubb and Travelers, provides an update
on the Supreme Court review of the size
of punitive damage awards, and looks at new
requirements for e-discovery. "Marketplace
Musings" discusses the impact of 2006 results on insurance pricing in the
first quarter of 2007 and makes projections for the remainder of the year.
Risk Financing features updates to important
state information. First, the summaries in Appendix
C for each state's automobile liability self-insurance regulations are updated.
Appendix G's state-by-state
listing of the workers compensation charges due to boards, bureaus, and
taxes is updated as is its table displaying the workers
compensation residual market share by state.
Risk
Financing Perspectives features an update to the debate over broker
compensation. Several insurers now offer alternative compensation schemes that
promise greater transparency and fewer opportunities for abuse. Perspectives offers a summary of the current
practices of several insurers and brokers. Also in this month's Perspectives is our regular "Market
Corner," which reviews current property and casualty insurance market conditions.
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