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Vol. 1 No. 3, April 2004
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Those of you who receive Digital DNA may notice that it is now personalized. It may not seem like a significant detail, but it's a step towards providing you with timely and personally relevant content. If we don’t have it just right, please tell us by replying to digitaldna@darwinpro.com so it can be corrected immediately.
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Our Listening Ears Are On
We’ve had multiple requests for “deeper” information about Alleghany Corporation and its insurance operations through Alleghany Insurance Holdings, Darwin’s parent. Hopefully, we’ve quenched your thirst for Alleghany info by greatly expanding the Alleghany Offspring section of Darwin’s web site. Check it out at www.darwinpro.com/alleghany.html. A hardcopy of Alleghany’s 2003 annual report is also available. To request a copy, please send a quick email request to Drake at dmanning@darwinpro.com and include your mailing address.
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We’ve also heard several requests to offer continuity to health care D&O accounts and back date prior and pending litigation. We recognize this is an important issue and we have developed solutions that our underwriters are prepared to discuss with you on an account-by-account basis.
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Also receiving attention based on the market’s feedback is Darwin’s move to establish liability products for individual physicians. This is an issue we’ll continue to move along, and I expect that by July 1, 2004 we’ll begin offering coverage in this segment.
Please keep sharing your feedback and suggestions. We take all of it seriously.
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Fiduciary Focus
In this post-Enron era of the specialty liability insurance market, the impact of corporate accounting scandals and resulting focus on directors, officers, and corporate governance is well known. What may be lesser known, and of growing importance, is the impact on fiduciary exposures. The exposures are real—and significant. Last month, Global Crossing announced a $325 million settlement of certain class actions. $80 million was attributable to the ERISA class actions.
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Darwin is now an active market to respond to this growing fiduciary liability exposure. Our focus extends to both publicly traded commercial accounts and health care accounts. For more info, check out the Fiduciary Focus section of this issue.
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Meet Us at AAMGA
A few of us from Darwin will be attending the AAMGA annual convention in Arizona next month. Our calendars are filling up fast. If you’re interested in arranging for a meeting with a Darwin representative at AAMGA, please email Nicole Haggerty at nhaggerty@darwinpro.com.
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Issues Update
In past editions of Digital DNA I’ve provided some information about Darwin’s activities in the marketplace. We have some key developments to share with you on some of these activities. Check out the Issues Update section for more info.
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And, finally, a quick reminder on your submissions—for the best possible service and turnaround time, please direct all submissions to submissions@darwinpro.com.
Keep your feedback coming.
Sincerely,
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P.S. If you are new to Digital DNA, past editions can be accessed from Darwin’s web site at www.darwinpro.com/evolution.html.
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LEGAL NOTICE: Darwin Professional Underwriters, Inc. (Darwin) recognizes that electronic and Internet communications are an important element in transacting business and strengthening business relationships with our producers, partners, and policyholders. The “CAN-SPAM Act of 2003” requires, among other things, that commercial electronic mail messages, the primary purpose of which is the commercial advertisement or promotion of a commercial product or service, comply with certain requirements. The requirements include identifying these messages as solicitations and giving the recipient the opportunity to “unsubscribe.”
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Darwin uses electronic communications for various purposes, including educational, transactional, informational, and promotional, and to facilitate or solicit business. Until the “primary purpose” language of the “CAN-SPAM Act of 2003” is clarified, Darwin is taking a conservative view and advising that all our email and electronic communications could be viewed as an advertisement or solicitation. If you wish to unsubscribe, please follow the unsubscribe links provided in this message.
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