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Earthquake in Haiti

January 14, 2010 – 1:31 am

The catastrophic earthquake in Haiti this week is even more devastating because the country has little to no history of insurance or risk management. The country is identified as the poorest in the Western Hemisphere. Some multinational corporations have interests there, but beyond those companies, it is unlikely that a small, local, family businesses possesses any insurance to help in rebuilding.

An article in the Wall Street Journal this week notes that, as of Wednesday, only German reinsurer Hannover has stated it has any exposure. While this may be good news for the international insurance market, it points to a significant underlying problem in burgeoning economies: the absence of private insurance.

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Tips for Teamwork in the Workplace

January 13, 2010 – 11:13 am

As a manager, one of the most important parts of your job is fostering teamwork in the workplace. While certainly teamwork comes naturally to a great many people, it still pays to know how to bring it out. Also, there are some people who are not naturally inclined to use teamwork. Knowing how to get the best out of these people can mean the difference between a good and great job done. Here are some tips for teamwork in the workplace that any manager can use:

Teamwork in the workplace starts with getting your team to buy in to the idea. Showing them the benefits of using teamwork can be eye opening.

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Court sides with insurer in coverage exclusion case

January 13, 2010 – 10:32 am

Insurers and plaintiffs attorneys filed amicus briefs in the case of Tayarie Trayshaun Baker vs. National Interstate Insurance Co. et al. The case stems from an April 2001 bus collision that claimed the life of bus owner and driver La Shaun Clemmons.

In 2000, Ms. Clemmons purchased a bus from Four Winds Day Camp Inc., an Inglewood, Calif., bus company now called Four Winds Inc. Four Winds had coverage under a CGL policy issued by American National Fire Insurance Co. that included a widely used products and completed operations hazards exclusion, court records show.

Four Winds also contracted to inspect the bus it sold to Ms. Clemmons.

Following Ms.

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Geithner: Right to pay AIG counterparties at par

January 12, 2010 – 3:13 pm

“Absolutely,” Mr. Geithner replied to a question from a CNBC television interviewer, though he specified that he had not been involved in a New York Federal Reserve bank decision for AIG to make the payments at par.

“We had no effective legal means to step in and prevent default (of AIG) … without helping this firm meet all its legal obligations,” he added.

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For reprints of this story, please contact Lauren Melesio at 212-210-0707 or email lmelesio@crain.com

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Munich Re sees no big snow hit in Europe

January 9, 2010 – 12:57 pm

“The storms and snowfall forecast for the weekend are not likely to cause major insured losses,” the world’s largest reinsurer said in a statement.

“Although snow breakage and heavy icing are being predicted, record events …

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At Home Product Demonstrator Liability Insurance

January 8, 2010 – 11:58 pm

With a constantly evolving consumer retail sector as a result of technology and corporate marketing efforts, businesses are finding new ways to get consumers to buy, even in tough economic times. While many consumers are still shopping, most are just shopping less and saving more, which means that businesses need to get smarter about how they market their products. One of the best ways to engage potential customers is with a hands on product demonstration, which is why home demonstrations remain one of the most cost effective ways to market since there is no need for retail space and sales reps are driven by commission.

While this is a great way to make money, it also comes with a certain level of risk since as a home product demonstrator, you will be visiting other people’s homes without always knowing them very well. W

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