October 2003/1

As long as average CEOs are paid as if they were superior CEOs, the issue of executive overcompensation won't go away. Where CEO pay is out of alignment with long-term corporate results, shareholders will not remain complacent. How, during the past two de

Mike Hammond the former chief executive of broker Marsh's UK operations is to join rival Jardine Lloyd Thompson, it was revealed last month. Staff at JLT were told of the move by senior management and the news ended months of speculation over Hammond's

Defunct Australian insurer HIH has won partial access to pleadings and legal information from AIG subsidiary Lexington Insurance Company to help advance possible fraud allegations against the broker JLT. HIH applied to the High Court following the Ju

Heath's has settled much of its film finance exposures following the opening submissions in a critical High Court trial this month. The so-called "Phoenix" trial promised to set a marker for a series of multi-million dollar disputes involving insurance ba

Quoted Lloyd's insurer SVB is considering a 2004 fund raising to capitalise a new FSA-authorised insurer that would lead its charge in writing D&O, medical malpractice and professional indemnity business - a model similar to UK start up PRI Ltd before its

The world's largest insurance broker Marsh is embroiled in an awkward $250mn policy wordings dispute with the London market over the placing of Financial Institutions insurance cover for its long-time banking associate JP Morgan. Despite renewing a ble

The militant Lloyds Names Association (LNA) will attempt to recover up to £100mn from the Central Fund for what it describes as Lloyd's failure to adequately regulate the market, The Insider has learned. The move follows this summer’s landmark judgment

Dick Grasso, who by most accounts did a good job of running the NYSE, was forced from his position because he was paid so much that it became an embarrassment to his organization and to the board of directors that paid him so much money. David D 'Aless

Followers of US tort reform developments were teased this month with the prospect of a real breakthrough, as Republican Senator Bill Frist stepped in to rescue stalling asbestos talks, negotiating a new deal between insurers and industrial defendants over

Silverstein and Swiss Re posturing continues but patience wears thin The war of words between parties in the World Trade Center (WTC) insurance dispute continues to rage, despite the growing clamour for resolution of costly legal proceedings that conti

$550mn start-up hit by breach of contract ruling The Quanta start-up story took a new turn last month when it emerged that Thomas F. Taylor, the former CNA executive vice president, who was to head up the E&O operation at Bermudian headquartered start

Personal accident specialist Jonathan Thomas is set to become the active underwriter of Creechurch's merged syndicates, if Lloyd's franchise performance director Rolf Tolle approves the move.