30 10, 2012

Two Steps Forward, One Step “Wayback”: Managing Information for Future Success

By |2012-10-30T08:55:38-05:00October 30, 2012|General Risk Management, Guest Blog|1 Comment

A guest blog by Carrie Cope of Schuyler, Roche & Crisham, P.C.: There are times when the unwelcome discovery of a regulatory violation, such as the inadvertent issuance of an insurance policy in a state where the company isn’t licensed, can put an insurer between that proverbial “rock and a hard place.” While disclosure to the governing regulatory agency may be the company’s preferred plan of action to resolve the problem, management may be concerned that voluntarily disclosing it may result in a fine or penalty or uncover more than hypothetical worms under that proverbial rock. As a result, it’s [...]

26 10, 2012

Lance Armstrong’s Troubles May Include the Tax Man

By |2012-10-26T08:45:41-05:00October 26, 2012|Current Events, FTTCF|1 Comment

Wherever you stand on the issue, Lance Armstrong's sudden and complete fall from grace seems like just about the worst thing that could happen to the man. Perhaps not, according to a recent article by Forbes. For illustrative purposes, let’s look to Armstrong’s most notable achievement: his consecutive Tour titles spanning from 1999 to 2005. During this run of dominance, Armstrong received bonuses from Tour officials for each stage win, each day he wore the leader’s yellow jersey, and of course, each overall victory. These payments are rumored to have totaled nearly $5 million over the seven-year period. Armstrong’s compensation [...]

25 10, 2012

What IS the standard of care for seismology predictions?

By |2012-10-25T09:49:16-05:00October 25, 2012|Current Events, E&O|0 Comments

Our bet is that few (if any) of you are writing E&O coverage for seismologist as, to our knowledge, such a market does not exist. Perhaps there is potential, however, given the recent Italian court ruling that holds six Italian government officials and seismologists criminally and monetarily responsible for inaccurate earthquake predictions. Given the difficulty in predicting these naturally-occurring events would anyone be willing to underwrite such an exposure? From the Washington Post: “In L’Aquila the trauma is still present and visible,” Italian GlobalVoices blogger Paola D’Orazio wrote in April. ”But stronger yet is the resentment of those families who will never see [...]

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