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Vol. 1 No. 4, May 2004
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There's more to Darwin than just great underwriting talent. We understand that the specialty insurance needs of each policyholder are best met with a mix of expertise across many disciplines. Darwin's integration of talent across underwriting, actuarial, claims, and risk management/loss control disciplines brings a complete package of coverage and services that helps your clients avoid exposure and mitigate losses.
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The World of Risk Management
While all of these disciplines are certainly important, this edition of Digital DNA provides a glimpse into the world of risk management at Darwin. Risk management is a core element of Darwin's approach to specialty insurance. We believe that an effective risk management/loss control program works to identify potential problems and provide additional insight during the underwriting process, thus providing insureds with the tools to avoid or mitigate losses during the coverage term and beyond.
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This approach has been so successful for our health care and other E&O lines that we are in the process of enhancing our capabilities across all E&O lines and in the commercial D&O segment. Click here for more about Darwin’s policyholder risk management programs, services, and philosophies.
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Expert Insight
The United States Sentencing Commission has put corporate directors and officers on notice that their responsibilities go far beyond having knowledge that their organization has a written compliance plan. Directors and officers not only must know and understand their organization's compliance plan and policies but also must act to ensure that it is followed and effective.
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We're pleased to share with you some expert insight on this topic from our colleagues at Post & Schell. Ron Levine, practice group chair of Post & Schell's White Collar Defense, Compliance and Risk Management Group, offers timely insight on the Commission's guidelines and provides action items for boards to follow when analyzing a compliance plan. Directors and officers are well-advised to perform at least annual reviews of the plan which include adequacy of resources, an assessment of the plan's effectiveness, and updates on the law and regulations by legal counsel to ensure full compliance.
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The article, entitled Compliance Responsibilities (and Exposures) of Board and Officers Heightened by Recent Government Action, is available as a pdf download by clicking here.
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A Bigger Gene Pool
In the past month we've filled a few key positions in our health care underwriting, risk management, technology, and distribution management areas. Darwin is pleased to welcome:
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Rick Barr as vice president, distribution. Rick was formerly with Willis as senior vice president, distribution for Willis program business. He has more than 25 years of experience in distribution management and marketing, and his talents will support Darwin's distribution and production strategies.
Lisa Calafiore as risk management resource coordinator. Lisa brings an important clinical background to our health care risk management division. She previously worked as a licensed physical therapist for ten years.
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Andrew Charron as assistant vice president, health care underwriting. Andrew joins Darwin with 13 years of experience underwriting medical malpractice insurance. He was previously the Northeast regional leader for GE Medical Protective and held similar positions with PHICO and AIG. His talents will extend Darwin's med mal underwriting capabilities.
Jeff Dehner as senior business analyst. Jeff brings 10 years of experience as a business/technology analyst and IT consultant. Most recently, he was with Chubb as a senior systems analyst, lending his expertise to the development of underwriting, rating, and reporting systems.
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Issues Update and Future Developments
Last month we announced our plans to provide hospital professional liability insurance on an admitted basis in Oklahoma. Darwin is pleased to report that on May 10, 2004 the Oklahoma Department of Insurance approved Platte River Insurance Company for hospital professional liability coverage on an admitted basis. Click here for more information.
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As I referenced above, Andrew has joined Darwin to extend our med mal underwriting capabilities and reach into other medical segments. With Andrew's expertise, our health care team is currently developing coverage opportunities for several new classes of miscellaneous medical risks.
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For those of you with medical clients, this is a great time to contact Andrew about specific coverage and support you need but may not be getting from other markets. Darwin is currently accepting applications for the following miscellaneous medical risks—surgery centers, imaging centers, laboratories, rehab facilities, and home health agencies.
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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