INSURANCE BRIEFS

INSURANCE BRIEFS

GA. SENATOR PROPOSES

WORKERS COMP REFORM

ATLANTA - Sen. G.B. "Jake" Pollard of Appling, chairman of the Senate Insurance and Labor Committee, Thursday introduced what he hopes are fundamental changes in Georgia's workers compensation laws.

The legislation, S. 629, was introduced in anticipation of a workers compensation rate filing later this year that is expected to be in excess of 25 percent, Sen. Pollard said.

The measure will provide an increase in weekly benefits for the catastrophically injured employees and an increase in death benefits to $100,000.

The bill would provide for the employer to recover a portion of the cost when the injury to an employee is caused by a third party, the senator said.

This bill is designed to complement the recent fee schedules adopted by the Georgia State Board of Worker's Compensation, he added.

KEMPER TO COMBINE

2 INSURANCE UNITS

NEW YORK - Kemper Corp. plans to combine the assets and management of two insurance units in order to increase the companies' efficiency and competitiveness, the firm said Thursday.

Under the new structure, John Scott, chairman of Federal Kemper Life Assurance Co., will also become chairman of Kemper Investors Insurance Co.

The two companies reportedly have combined assets of $10 billion and stockholders equity of $800 million.

Federal Kemper is a direct subsidiary of Kemper Corp., while Kemper Investors is a subsidiary of Kemper Financial Cos., which is 90 percent owned by Kemper Corp. and which also holds Kemper Financial Services and Kemper Securities Group.

WHARTON SETS PROGRAM

FOR AGENCY MANAGERS

PHILADELPHIA - The Wortham Foundation of Houston contributed $25,000 to the Wharton School of the University of Pennsylvania to develop an executive education program for insurance agency managers with the National Association of Casualty and Surety Agents.

The joint venture will establish an executive training program geared toward mid-level, hands-on agency managers who are slated to assume leadership positions within their organizations.

The one-week course will help prepare managers to optimize agency resources, position the agency competitively and control agency expenses.

NEW AIA PANEL TO AID

GROUP'S EFFORTS ABROAD

WASHINGTON - The American Insurance Association formed an international committee to foster members' interests in the global insurance market.

The committee, comprised of member company representatives, also will address international public policy issues affecting insurance consumers, according to Robert E. Vagley, AIA president.

Among the AIA's members are foreign-owned insurance groups that write $13.2 billion in premiums annually, representing 22 percent of the AIA's premium volume, according to a report.

MARCH DECLARED ETHICS

AWARENESS MONTH

BRYN MAWR, Pa. - Ethics Awareness Month, a national educational program to increase awareness of the serious ethical issues facing the insurance and

financial services industry, will take place next month.

The nationwide event is sponsored by The American College, the American Institute for Chartered Property Casualty Underwriters, the American Society of CLU & ChFC, and the Society of CPCU.

S&P LOWERS RATING

OF GENERAL ACCIDENT

NEW YORK - Standard & Poor's lowered the claims-paying ability rating of British-based General Accident Fire & Life Assurance Corp. to AA-minus from AA.

S&P said the rating reflects recent operating losses and the agency's expectation of continued poor results through 1992.

According to S&P, the losses weakened the company's capital strength from its usual "excellent levels."

However, General Accident continues to maintain solid surplus adequacy and favorable market positions in its core British and United States operations, S&P said.