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Discussions held during Management Center Europe's 26th International Insurance & Risk Management Conference in Barcelona, Spain revealed the evolution of risk management into a major factor in corporate planning. Various speakers discussed the role played by the risk management industry in the corporate world. These include the improvement in overall quality and the creation of value for the firm.

The participants to the 26th International Insurance and Risk Management in Barcelona, Spain have agreed on the importance of control in determining the success or failure of risk managers. DHL International Ltd.'s experience in managing industrial accidents revealed the need to highlight the important elements of risk management strategy. A similar strategy was successfully applied by IBM Europe.

Hermes Liberty International Pensions Ltd. is a joint venture between Liberty International Pensions Ltd. and Hermes Investment Management Ltd. which will focus on defined contribution programs rather than the traditional defined benefit plans. To meet changing pension demands of employers and trustees, Hermes Liberty will provide quality and pension services at competitive prices.

Aon Corp.'s purchase of Bain Hogg Group P.L.C., Inchcape P.L.C.'s retail brokerage unit, benefits all three firms. Aon offered to buy Bain Hogg for $253.3 million in cash shortly after Inchcape announced its plans to demerge Bain Hogg in anticipation of a public offering. The price was considered above the firm's expected market value. Aside from the benefits of receiving cash, the sale infused capital to a demerged Bain Hogg and enabled Inchcape to obtain tax loss in the calendar year.

London, England insurers and brokers welcome the introduction of an electronic revolution in the industry even as they attempt to get over their initial disappointment with the electronic point-of-sale system (EPS). The new market-wide system was designed to hasten and decrease the costs of insurance transactions. Its sponsors have decided not to ordain a schedule for its adoption as they urge London market participants to adopt it at their own pace. Although the London market still holds an uncertain view over EPS, the new system will eventually support streamlining.

NEWCASTLE UPON TYNE, England - Professionalism in the insurance industry, which has suffered public difficulties and a drought of educated new talent and research, is a concern both inside and [...]

LONDON - Bain Hogg Group P.L.C. has confirmed it will become independent of parent Inchcape P.L.C. by the end of November, as Inchcape had planned. Announcing the London-based broker's first-half [...]

Work-related stress is taking an increasing toll on managers in the United Kingdom, yet 70% of U.K. employers do not offer stress counseling or employee assistance programs, according to a [...]

Computer system and licenses may draw new members London prides itself on being the global marketplace for reinsurance - a claim inadvertently justified by the fact that of the top [...]

While all eyes have been closely watching the progression of Lloyd's of London's reconstruction and renewal plan, there has been a quiet shake-up of the market's on-going capital base. Over [...]

DUBLIN, Ireland - Risk managers who do not take steps to protect against increasing business interruption exposures do so at their peril, a property loss prevention expert warns. As industries [...]

Big-picture approach helpful amid changing conditions DUBLIN, Ireland - Risk management is facing moving targets, with change afoot and business as usual out the door, a leading risk manager says. [...]

Minet House, 66 Prescot St., London E1 8HG; 44-171-481-0707; fax: 44-171-488-9786 1114 Ave. of the Americas, New York, N.Y. 10036; 212-782-6000; fax: 212-782-6100 1995 1994 Premium volume $4.1 billion $3.84 [...]

LONDON - Support for Lloyd's of London's ambitious reconstruction and renewal plan is running high among its members, boding well for the success of the plan and the launch of [...]

Market cutting rates to keep good risks and attract new business to London London underwriters continue to offer rate reductions as the market continues to soften. Insurance buyers with good [...]

LONDON - Lloyd's of London's profits for the 1993 underwriting year will be higher than expected when released later this week, a Lloyd's analyst says. Names underwriting in 1993 will [...]

Insured losses from Manchester bomb to reach £100 million MANCHESTER, England - As Manchester tallies the losses from its bombed city center, U.K. companies are already feeling insurance repercussions due [...]

Despite some R&R naysayers, most market watchers are hopeful LONDON - Some members and officials at Lloyd's of London are growing confident that they can see light at the end [...]

Pursuing litigation could topple ailing market, leader contends LONDON - U.S. members of Lloyd's of London should actively support the Lloyd's of London Reconstruction & Renewal plan to avoid a [...]

Strategy may be spark to rekindle captive growth DUBLIN, Ireland - Dublin regulators are actively pursuing continued growth for the captive domicile, focusing on expanding the ranks of insurance captives. [...]

Industry players view ideal alliances for improving risk management results NOTTINGHAM, England - The meaning of 'partnership' depends on which partner one asks, especially when the principals are professionals in [...]

New report backs R&R plan, but not all names back report LONDON - Just as Lloyd's of London is nearing the homestretch of its ambitious reconstruction and renewal plan, the [...]

LONDON - Legislation passed last month by the House of Lords could reduce administrative difficulties for pension managers by requiring that pension rights be treated like other assets and split [...]

Lloyd's must cut expenses to ensure its survival, analysts say LONDON - If Lloyd's doesn't take some basic cost-cutting steps to lower its operating expenses, Equitas - the market's proposed [...]

LONDON - Lloyd's of London is a step closer to a final settlement offer for members. The Council of Lloyd's published its decision last week on how to allocate the [...]

Initial estimates of insured damages up to $230 million LONDON - Reverberations from the bomb that shook London earlier this month will be felt for months to come. A week [...]

Benefit experts differ on the impact of changes to U.K. plans LONDON - Increasing regulation of employer-provided pensions may prompt some United Kingdom employers to drop their plans altogether, warns [...]

Sale of headquarters puts funds for R&R plan at less than 10% of target LONDON - Lloyd's of London has now raised £262.5 million ($403.5 million) for its reconstruction and [...]

Lloyd's would be unable to maintain solvency, DTI contends LONDON - Putting Lloyd's of London into runoff, an alternative a group of members has proposed, would create greater problems for [...]

The UK's Environment Act has been criticized for being far from being comprehensive in its scope. The blame for such a deficiency has been placed on politicians who are seen as less than willing to deal with the crucial question of environmental cleanup responsibility. Such a law, it is contended, may become as problematic as the US Superfund law.

Participants to the Risk Management Forum sponsored by both the Risk and Insurance Management Society Inc. and the European Assn. of Risk Managers agreed that the capability of managing risks involves much more than ergonomics. They believe that an improved workplace could best be generated after a thorough review of the physical and cultural milieu is undertaken.

Lloyd's of London's chief executive officer (CEO) Peter Middleton has resigned to join Salomon Bros. International Ltd. as CEO of its European operations. He will be replaced by Ron Sandler. Lloyd's was caught unaware of Middleton's resignation since he has been credited to be the builder of the company's renewal plan.

The traditional insurance industry is being threatened by increased competition from self-insurance and alternative risk financing. The difference between banking and insurance products will soon vanish. Risk management needs to bridge the communication gap among insurance, finance, health and safety, quality assurance and public policy.

The insurance industry in East Europe has benefited from the economic liberalization that accompanied the breakup of old communist regimes. The market has become competitive with the emergence of several private insurers replacing state insurance monopolies. However, differing conditions in each country in the region pose some problems to foreign insurance firms as does the incidence of fraudulent claims.

The Sturge Names Action Group issued a writ against London-based law firm Clyde and Co. for the latter's role in commuting two unlimited retrocessional policies for asbestos and pollution coverage to Lloyd's of London syndicate 210. Clyde and Co. was the adviser of Sturge Non-Marine Syndicate Management Ltd., which was running syndicate 210 when the commutation took place in 1991. Clyde and Co. is the first law firm to be implicated as a third party in the series of Lloyd's of London insurance lawsuits. Names groups have earlier begun to include syndicate auditors in their lawsuits.

The Stena Challenger, a multipurpose ferry owned by Stena Sealink, ran aground on Sep. 19, 1995, as it tried to approach the harbor in Calais, France, in high wind conditions. The ferry was carrying 172 passengers, 61 freight vehicles, 30 cars and 73 crew members. Following an established emergency management plan, a core group of Stena officials quickly assembled in Stena's offices in Ashford, England, to coordinate rescue operations. The emergency plan prevented the loss of lives and property during the incident. The hiring of tugboats and provision of food, accommodation and other services to stranded passengers were the major expense items in the rescue effort.

Johnson and Johnson Higgins Ltd. will introduce a new commercial package policy called RUSPAC on Sep. 26, 1995. RUSPAC will provide multinationals with a new scheme of insuring Russian ventures. It provides all-risks property/contents coverage up to a limit of $500,000 combined with $1 million in general liability coverage. The package policy is underwritten by Russian American Insurance Co.

Zurich Insurance Co.'s Sep. 1995 international symposium focused on the need for quality in insurance services. In response to customer demands for quality, Zurich plans to improve existing products and services as well as develop new ones for their customers' future needs. Tom Peters Partners consultant Nigel Barrow also says that businesses are five times more likely to lose customers due to poor service rather than poor products.

London-based Emsworth Insurance Agency Ltd. is being investigated by the UK police for sending invoices for 'EU-breakout' insurance policies to companies in the Netherlands, Belgium and Germany that deny having requested them. The 'EU-breakout' policy supposedly provides protection to companies in case the European Union collapses, but it may not actually provide any coverage. Emsworth is said to be serving as agent for another firm, EU Insurance Ltd.

Lloyds of London's corporate members will be required to contribute part of their underwriting profits to the company's reconstruction and renewal plan. The levy requirement covers all of Lloyd's syndicate members between 1993 and 1995 and includes both traditional unlimited liability names and limited liability corporate capital vehicles. Lloyd's corporate members had a total capital worth 1.6 billion pounds sterling in 1994.

Equitas Ltd. is widely regarded as the most crucial element of Lloyd's of London's ambitious 'reconstruction and renewal plan.' Under the restructuring scheme, Equitas will assume all of Lloyd's outstanding liabilities up to and including the 1992 year of account. Lloyd's officials had originally wanted Equitas to reinsure only the company's pre-1986 liabilities. With the adoption of the reconstruction plan, however, market leaders saw it fit to expand the reinsurer's mission.

Foreign insurance companies are becoming the dominant players in the UK insurance market, according to a report issued by the Assn. of British Insurers, the Institute of London Underwriters and the London Insurance and Reinsurance Market Assn. The report revealed that insurance firms with foreign backers account for 28% of all insurance coverage written in the market. It also disclosed that 227 of insurance firms authorized to operate in the new general insurance market are foreign or foreign-owned.

Challenged by the question--'What would an 'O store' look like that strictly features eyewear and accessories?'--Foothill Ranch, Calif.-based Oakley Inc. set out to bring its newest concept store to life. [...]

A T-SHIRT Vastex Intl. Inc. printed at ISS Atlantic City to help support the WWP. Vastex Intl. Inc., Mlentown, Pa., contributed $1,590 to the Wounded Warrior Project (WWP) by matching [...]

SanMar Corp., Issaquah, Wash., recently restructured its District Threads division as two separate brands--District and District Made. District is designed to meet the needs of the expanding juniors and young [...]

To celebrate its brand new, state-of-the-art, high-tech Graphic Communications & Printing Facility, Venice High School's (VHS), Venice, Calif., Super Shop 9 hosted an open house on April 13-14, which was [...]

Olive oil, a ubiquitous ingredient with countless varietals and applications, has found a new home in Toronto. The most recent TA-ZE store location opened in late-October 2011, offering a unique [...]

For all intents and purposes, Venice High School's (VHS), Los Angeles, Super Shop 9 has struck it rich. Home to VHS's graphic communications program since its inception in 1956, Super [...]