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Dividing coverage allows Harrah's to get capacity; Unusual step allays excess comp insurers' concentration concerns.

Publication: Business Insurance
Publication Date: 30-APR-07 		Format: Online
Delivery: Immediate Online Access
Full Article Title: Dividing coverage allows Harrah's to get capacity; Unusual step allays excess comp insurers' concentration concerns.(Risk Manager of the Year)(Harrah's Entertainment Inc.; ACE Ltd.; Zurich Financial Services)

Article Excerpt
Byline: ROBERTO CENICEROS

When Harrah's Entertainment Inc. had trouble getting sufficient excess workers compensation capacity, the company took an unusual step-it divided its coverage purchase among two insurers to allay their risk concentration concerns.

The manuscript policy arrangements also helped the gaming and entertainment company win favorable pricing and obtain an unusual per-occurrence deductible for communicable disease, said Bradley Darr, senior client executive for Beecher Carlson in Brentwood, Tenn.

Since the Sept. 11, 2001, terrorist attacks, insurers have ceased to provide unlimited, statutory workers compensation coverage limits for certain employers with large concentrations of employees in locations that underwriters consider particularly risky, Mr. Darr said.

More recently, potentially large...

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