Игроки всегда ценят удобный и стабильный доступ к играм. Для этого идеально подходит зеркало Вавады, которое позволяет обходить любые ограничения, обеспечивая доступ ко всем бонусам и слотам.
Over at Risk Management, we have a new article on some of the considerations corporate officers must consider before blowing the whistle on their own companies. With the new SEC Whistleblower Program, there are some new nuances but the core advice remains the same as common sense would suggest: officers should first try to report the problem internally but if that isn’t possible (for example, because the violations are occurring at the very top or the officer fears retribution) then they should by all means inform the SEC.
Here is more from article authors Lawrence A. Hamermesh and Jordan A. Thomas.
It is when the internal reporting system breaks down that the most serious problem for officers arises: the officer reports misconduct through the appropriate channels, but the report is ignored or the response is otherwise inadequate.
In that situation – and also when the officer has a reasonable belief that reporting internally will be inappropriate or futile — the officer must determine whether to report the matter to an outside party, such as the SEC or another law enforcement authority. It is here that the officer’s fiduciary duty of loyalty intersects with the potential for an SEC whistleblower award.
Would the officer’s duty of loyalty prohibit him or her from reporting the misconduct to the SEC, where such reporting is at least partly motivated by the hope of receiving a monetary award?
For several reasons, the most likely answer is “no.”
The duty of loyalty does not prohibit self-interested conduct by officers; it simply prohibits such conduct if it unfairly affects the corporation. Yet, in at least some cases, external reporting will actually be in the best interest of the corporation: while a whistleblower submission could lead to an eventual enforcement action against the corporation, it might result in substantially smaller sanctions and related private settlements than if the officer remained silent and the illegal conduct was allowed to continue and grow larger.
Related to that, adverse effects on the corporation’s reputation might be minimized by limiting the reach of corporate misconduct.
The summer of 2012 has been one a farmer would love to forget and one that weathermen never will. Daily temperature records were regularly shattered throughout the United States and historic drought conditions, which remain ongoing in many areas, caused crop yields to suffer. By July 19, after weeks of “unrelenting heat and a lack of rain continued the downward spiral of drought conditions,” according to National Climate Data Scientist Richard Heim, nearly 64% of the nation had officially entered drought, the highest percentage since 1950s.
Worst of all, some fear that this is less of an anomaly and more a sign of what’s to come in a warmer future. If that is the case, farmers, states and the nation at large will have to find new ways to ensure expected results can still be met. Regardless, the summer of 2012 will be notable, either for its harsh conditions or as the first in a line or extreme summers.
So here, we look back at a memorable season.
June 23
Wildfires burned in many areas of the western United States this summer, but a blaze in Colorado set historic state records. At least six were killed and some 600 homes were destroyed by a wildfire that devastated the Waldo section of Colorado Springs. The property damage has been estimated north of $500 million, some $350 million of which is insured, but the human toll looms even larger. A local resident, C.J. Moore told NPR that the fire was so hot her driveway exploded and, in the blaze, she lost much more than possessions. “One of the things I thought about the other day was the flag that was over my late husband’s casket,” Moore told NPR. “And I’m going, ‘I can’t replace that.’ I mean, yeah, I can get another flag, but it wouldn’t have served the same purpose. And you [think about it], and then tears well up.”
June 28
As a relentless heat wave blankets much of the country, and cities throughout the United States set temperature records, the nation’s capital sets a historic mark. June 28 to July 8 marks an 11-day stretch of 95-degree-or-hotter days in Washington, D.C., breaking the previous record set in 1930. The 105 Fahrenheit reached on July 7th becomes the second-hottest day in the city’s history. (Chart above, and data, via the Washington Post.)
July 17
The U.S. Department of Agriculture reports that 38% of the U.S. corn crop is rated as poor to very poor. “That 38% represents the highest amount of U.S. corn rated poor to very poor since the end of the 1988 growing season,” said USDA Meteorologist Brad Rippey. “We now see in 13 of the 18 major production states in the U.S., at least one quarter of the corn crop rated poor to very poor.” In Kentucky, Missouri and Indiana, more than 70% of the corn crop is rated as poor.
July 18
A Milliman report estimates that a dozen major corn and soybean-producing states could tally underwriting losses of $2.8 billion. The 12 states included were Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin, and Milliman notes that “other states, including Arkansas and many western states, are also experiencing an intense drought and could see high crop insurance indemnities as well.”
July 20
The U.S. drought monitor releases shocking findings: due to “unrelenting heat and lack of rain,” 63.5% of the United States is now officially suffering from drought. Mark Svoboda, climatologist for the U.S. drought monitor notes that the summer heat, on top of a dry winter and a warm spring, “Our soil moistures are depleted.”
July 25
In a summer full of them, the USDA extended yet another series of disaster proclamations for counties in several states, raising the number of counties where farmers were eligible for drought-related disaster assistance to 1,369. The department noted that this highlighted the need for Congressional action. “The urgency for Congress to pass a food, farm and jobs bill is greater than ever,” said Agriculture Secretary Tom Vilsack. “The hard-working Americans who produce our food and fiber, feed for livestock, and contribute to a home-grown energy policy—they need action now.” One week later, Agriculture Secretary Tom Vilsack would report that more than 50% of the nation’s counties were officially designated disaster zones, including more than three-quarters of U.S. cattle acreage. “It’s the most severe and expensive drought in 25 years,” said USDA economist Timothy Park.
August 2
The House of Representatives passes a $383 million drought-assistance package for farmers and livestock producers. The short-term care package is generally seen as a reasonable relief effort but also highlights Congress’s failure to pass a long-term farm bill. “My priority remains to get a five-year farm bill on the books and put those policies in place,” said House Agriculture Committee Chairman Frank Lucas (R-OK) in a statement, “but the most pressing business before us is to provide disaster assistance to those producers impacted by the drought conditions who are currently exposed.”
August 5
Outspoken NASA climate scientist James Hansen writes a Washington Post op-ed proclaiming that extreme weather such as the ongoing drought and recurring heat waves this summer are the direct result of man-made climate change. “Our analysis shows that it is no longer enough to say that global warming will increase the likelihood of extreme weather and to repeat the caveat that no individual weather event can be directly linked to climate change,” wrote Hansen. “To the contrary, our analysis shows that, for the extreme hot weather of the recent past, there is virtually no explanation other than climate change.”
The USDA updates its corn outlook to show that 51% of the corn in the 18 states that yield upwards of 90% of the U.S. crop yield are rated poor. 26% of that total is considered very poor. “This again shows that rains this week were too little, too late to stabilize the corn crop,” said DTN Analyst John Sanow.
I have paid close attention to two trends in recent years: the increase of piracy on the high seas and the decrease of formality in writing.
The first is self-explanatory and most everyone has now come to understand that the threat of pirates attacking commercial vessels, particularly off the coast of Somalia, is a major threat to both international cargo and those who ship it. The second has been a longer-running trend, in which letters that begin “Dear Sir” have been replace with emails led by “Hey Bob” or even less-formal messages — in texts, tweets and Facebook messages — that seem to start mid-sentence and contain no capital letters.
Rogues though they may be, these pirates in many cases are surprisingly well-organized, down to having their own packets of paperwork — on letterhead — for their victims.
Reuters obtained a copy of one such packet, presented to the owner of a hijacked oil tanker and the owner’s insurer after the ship was taken. Due to the commercial sensitivities, the names of the insurer and ship owner were redacted from the document, as was the size of the ransom request.
But what remains is colorful enough, and somewhat surprising. The cover sheet, in memo format, is addressed “To Whom It May Concern” with the subject line “Congratulations to the Company/Owner.”
“Having seen when my Pirate Action Group (P.A.G) had controlled over your valuable vessel we are saying to you Company/Owner welcome to Jamal’s Pirate Action Group (J.P.A.G) and you have to follow by our law to return back your vessel and crew safely,” the memo begins.
The tone of the memo belies the violent reality of the pirate’s actions. As of early August armed Somali pirates hold more than 170 hostages, according to the IMB, and were responsible for 35 deaths in 2011 alone.
“Do not imagine that we are making to you intimidation,” the memo says, before signing off with “Best regards” and the signature of Jamal Faahiye Culusow, the General Commander of the Group.
Lest there be any doubt about who Jamal is or what he does, his signature is accompanied by his seal — yes, Jamal has a stamped seal — depicting a skull and crossed swords with the name of the group.
The rest of the article discusses piracy insurance coverage and is worth reading.
In September, the leading UK insurance publication Insurance Insider will hold an event to honor the year’s best, brightest and most-innovative companies and professionals. Winners will be announced September 6 during a ceremony at the Royal Courts of Justice in London.
Young Underwriting Meteor of the year
Chris Baker, Chaucer
Simon Holt, Travelers
Victoria Paxton, Beazley
Young Broker Meteor of the year Nicola Golder, BMS
Kurt Cripps, Aon Benfield
Massimiliano Rovedo, Aon
Risk Carrier of the year
Allied World Lancashire
SCOR
Swiss Re
Initiative of the year Beazley
Catlin
CFC Underwriting
Launch of the year Aon Benfield for Non-Modelled Perils
Willis for WillPLACE
WR Berkley for Syndicate 1967
(Re)insurance Transaction of the year Aon Benfield for Zenkyoren renewal
Citizens Property Insurance Company for FHCF
QBE for multi-year reinsurance programme
M&A Transaction of the year Canopius/Omega
CNA/Hardy
Talanx/Warta
Transatlantic Re/Alleghany
Broker of the year Aon Benfield
Guy Carpenter
Howden
RK Harrison
The Cuthbert Heath Award (Claims & Losses) Charles Taylor Adjusting
Suncorp
Xchanging
CFO of the year Martin Bride, Beazley
Stuart Bridges, Hiscox
Oliver Corbett, Novae
Eric Fady, Hyperion
