Since 2001, the business world has been rocked
by an unprecedented series of catastrophes, such
as the September 11 attacks, accounting scandals,
and Hurricane Katrina, to name just three.
A generation ago, Americans seldom changed
jobs and routinely retired with comfortable, reliable pensions.
But those days have become distant memories.
Washington Group International (NYSE: WNG), headquartered
in Boise, Idaho, is a global engineering, construction, and
management company with 25,000 employees worldwide
and more than $3 billion in annual revenue.
Americans just love to
buy foreign - Japanese
cars, Swiss watches,
Russian caviar, Swedish
vodka, Saudi oil,
Colombian coffee, New Zealand
lamb, French perfume, Italian
fashions, computer components
from Singapore, and lots of good
things from China. And when it comes to investing,
America's appetite for foreign
equities has also been growing.
Alternative Risk Transfer (ART) is the name given to forms
of insurance not so long ago considered alternative to the
traditional model. The ART label has stuck, even though
more than half of U.S. domestic insurance last year was
structured using "alternative" techniques. The dominant
vehicle in the arsenal of ART is the captive insurance
company.
Imagine a town where a trip for two to the movies costs $68, gas goes for $6.50 a gallon and dinner at a toprated restaurant will set you back more than $600. And suppose that, despite the town's outrageous prices, you decide to retire there. How much money would you need?
Slightly larger than Connecticut and Rhode Island combined, The Commonwealth of the Bahamas, with a population of 317,000, is a stable parliamentary democracy, independent since 1973, although it still pays homage to the British monarch as nominal head of state.
The scene was chilling. With several days' warning, government officials were quick to urge residents of coastal Texas to evacuate prior to the arrival of then-Category 5 Hurricane Rita.
How can Bermuda, an island the size of Manhattan,with just 65,000 people, have a consistently more vibrant insurance industry than the U.S. or London,the other market leaders?
Of all the types of personal insurance -- life, auto, home, dental, disability, liability, long-term care, and health care -- adequate health insurance coverage is one of the best ways to protect personal assets.
Corporate responsibility and transparency are essential new components of every business strategy. Together they mean that managements must be seen to have addressed all the obvious risks.
The Insurance Information Institute's (ILL) February 2005 industry forecast brought American businesses some much-needed good news on the insurance front.
Copyright 2005 - 2008, by The McGraw-Hill Companies Inc. All rights reserved.
