CREDIT,REINSURANCE,LAWS,CHAIRMAN,FOREIGN,INSURERS,TABLE OF CONTENTS,PHIL,DEMAND,COLLATERAL,ZIP CODE,FINANCIAL,HEALTH,HELPED,DRIVE,COSTS,RESTRICTED,CRITICAL,CAPACITY,THE CURRENT,RULES,DISTORT,THE OPERATION,THE U S,INSURANCE,MARKET,LEAVING,CUSTOMERS,LOSERS,LORD PETER,LLOYDS OF LONDON,LAST,MEETING,NEW YORK,LONDONS,SPOKE,THE DOWNTOWN,ASSOCIATION,INSURANCE BROKERS,ASSOCIATION OF,PRESENTATION,EMBRACED,GLOBAL,THE WAKE,HURRICANE KATRINA,NATURAL,CATASTROPHES,LORD LEVENE,ONCE AGAIN,RAISED,ISSUE,CAUSE CLBRE,MANY YEARS,COMPETITIVE,DISADVANTAGE,COMPETING,WITH U,LICENSED,LETS,EXAMINE,POSITION,GOOD CREDIT,RISKS,PERMIT,COMPANIES,SECURING,LIABILITIES,STRONG,CONTRAST,ALIEN,POST,EQUAL TO,GROSS,AREAS,MEDICAL MALPRACTICE,NEITHER,EFFECTIVE,EFFICIENT,CONSERVATIVE,ESTIMATES,THE ANNUAL,REQUIREMENTS,IN EXCESS,HALF,BILLION,DOLLARS,ALONE,THE PRICE,SYSTEM,STEP,WORLDS,LEADING,MARKETS,WHATEVER,VALUE,OBSOLETE,TODAY,THE EVENTS,OF 9,RECENTLY,KATRINA,UNDERSCORE,UNINTENDED CONSEQUENCES OF,IMMEDIATELY,TOP UP,FUNDS,FOR ANY,BUSINESS,MONEY,CLAIMS,PAYMENTS,RISE,SIMILAR,SITUATION,10 BILLION,CANNOT,EMPLOYED,ELSEWHERE,THE 21ST CENTURY,EUROPEAN,FIND,INTERPRET,ANYTHING,SHEER,PROTECTIONISM,EXPECT,DEFINITIVE,CHANGE,TOUGH,WORDS,INDEED,INSURANCE INDUSTRY,LESS,THE SITUATION,THE FACT OF THE MATTER,SAYS,PHILLIP,CARSON,SENIOR COUNSEL,FINANCIAL REPORTING,THE AMERICAN,MECHANISM,LEVEL PLAYING FIELD,FUNCTION,REGULATORS,CERTAIN,SOLVENT,SUBJECT TO,SCRUTINY,TERMS,FINANCIAL STATEMENTS,ORDER,RETAIN,LICENSES,OPTION,REGISTER,DEPARTMENTS,LICENSE,OPERATE,NECESSARY,DONT KNOW WHY,FOLLOW,COURSE,THEREFORE,MUST,MEANS,MIGHT NOT,WHETHER,LETTERS OF CREDIT,FUND,APPROACH,ESSENTIAL,JOBS,ANDREW,BARILE,PRESIDENT OF,CONSULTING,OFFERS,ANOTHER VIEW,THE NEED,EXPERT,VANTAGE,POINTS,PRIMARY,COLLECTING,CONTRACTS,POINT,TAKING,THE MARKET PLACE,TYING UP,SOLUTION,PROBLEM,GOING TO,CONTRACT,CLEAR,REFUSES,THESE DAYS,GOOD,DISPUTES,THE MONEY,DRAW,DOWN,DISPUTE,FRANK,AMERICA,FOREFRONT,TRYING,FOR SOME,THE LAWS,STAND,WRITE,COMPANY,THE PRESENT,LOOKING,STANDPOINT,BUYER,STEVEN,ADER,DIRECTOR,STANDARD POORS,SHOW,PURCHASES,BALANCE,SHEETS,BOUGHT,NO CREDIT,UNLESS,THE ALIEN,PUTS,LETTER OF CREDIT,FOR ALL,REASONS,APPEARS,FIGHTING,UPHILL BATTLE,CURRENT,FAIR,WANT TO,HERE,THE RELATIONSHIP BETWEEN,CHANGED,RECENT,ONCE,PARTNERSHIP,RELATIONSHIP,TRUST,CONTRACTUAL,INTERPRETATION,JOURNALIST,EXPERIENCE,EDITOR,THE JOURNAL OF COMMERCE,NUMBER,HANDLING,DOMESTIC,INTERNATIONAL,SUPPLE,ADDITION,LONDON PUBLICATIONS,CONTACT,