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Tuesday
04/01/08
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Your Insurance News "Strategic
Relationship" |
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Read online at
www.insurancebroadcasting.com.
Read daily by
over 450,000 insurance industry
subscribers.
Walt Podgurski, CLU, CES, Publisher & Editor
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© Copyright Notice
- the information on this page is protected by the copyright
laws - all rights reserved.
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BENEFITS EDUCATION SERVICES You spend all
that energy putting the right benefit plan together for your employees - and all they give you is a blank stare. Are they confused? Intimidated?
Or do they just take it all for granted? At Unum, we tailor our
education and enrollment programs to reflect the culture and issues of
your company. Which not only makes our information easier to understand,
but your employees more satisfied at the end of the day. To learn more,
visit www.unum.com/education.
| © 2008 Unum Group. All rights
reserved. Unum is a registered trademark and marketing brand of
Unum Group and its insuring subsidiaries. Insurance products
underwritten and services offered by the subsidiaries of Unum.
NS08-117 (3-08) |
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Daily Quote:
"Boldness be my
friend." - - William Shakespeare
Auto &
Home @ The Workplace
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Are you offering
your employer clients the option to make auto and homeowners
insurance available to their employees via payroll deduction? If
not, you can meet with all of the major providers at one time at
Workplace Benefits Mania 2008. Here are the key agenda items you
want to attend.
Wednesday Morning - 07/30/08 -
9:30 a.m. -
11:30 a.m. - Auto & Home @
The Workplace - Learn how to implement a "turn-key" auto &
homeowners solution for your employer accounts. This could
generate a substantial ever-increasing revenue stream for your
agency and other than the initial approval, the enrollment and
case management is completely outsourced to billion-dollar
companies that understand this market.
(Also of interest)
Tuesday Afternoon - 07/29/08
- 2:10 p.m. - 2:50 p.m. -
National
Insurance & Brokerage Houses / Health Brokers & Workplace
Benefits - voluntary benefits have become an increasingly
important part of employer's benefit strategies. Ignoring this
revenue stream also leaves the door open for competition to become
one of the insurance advisers in your accounts. This session will
focus on building your strategy for introducing voluntary benefit
life & health solutions into your employer accounts.
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Workplace Benefits Mania
2008
July 28, 29 & 30 - Caesars Palace, Las Vegas, NV
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Industry "Movers & Shakers" Attendees |
90 Leading Industry Exhibitors |
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Field Proven Expert Speakers |
Special 4-hour "Influence" workshop
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Build your voluntary benefits revenue stream!
Workplace Benefits Association - 888-282-1765 -
www.workplacebenefits.org
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Mergers / Acquisitions / Earnings
/ Strategic Alliances / Capitalization |
Back To Top |
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Meetings /
Seminars / Conferences / Webinars |
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1.
State Insurance Overseers Slam Paulson Revamp Plan |
Mon Mar 31, 2008 3:03pm EDT Email
By Kevin Drawbaugh
WASHINGTON (Reuters) - In a sign of the rough road ahead for a
Bush administration proposal to overhaul financial regulation,
state insurance authorities on Monday criticized the plan's call
for a federal insurance regulator.
Calling the proposal "a solution in search of a problem," a
group that represents state insurance commissioners warned
Treasury Secretary Henry Paulson against trying to bring more
federal power to a regulatory system now run by the states.
"State regulators are glad that someone at the federal level is
finally paying attention to the financial crisis facing our
nation," said Sandy Praeger, who is president of the National
Association of Insurance Commissioners and the insurance
commissioner of Kansas. "However, any change should not put the
needs and convenience of Wall Street ahead of the cares and
concerns of Main Street."
Amid a widening housing market crisis and recession fears,
Paulson on Monday unveiled a package of proposals to overhaul
how Washington polices commercial and investment banks and the
financial markets. Several of Paulson's ideas have been kicking
around Washington for years.
One is his proposal to create an optional federal charter for
insurers, a long-standing goal of some of the largest
competitors among the nation's more than 6,000 insurers.
States now regulate insurers, forcing companies with national
scope to comply with more than 50 different rulebooks. These
companies favor an optional federal charter, which would save
them money and centralize their lobbying efforts. Under the
Paulson plan, companies could continue answering to state
authorities if they chose.
Supporters of an optional federal charter include Allstate Corp
(ALL.N: ) and others.
Asked about Paulson's backing of an optional federal charter,
Senate Banking Committee Chairman Christopher Dodd on Monday
said: "That's a matter we're already talking about up here."
Legislation for such an approach is pending in the Senate and
the House of Representatives, but has gained little support
despite persistent lobbying by some of the industry's biggest
firms.
After Paulson's announcement, the American Insurance Association
praised the optional federal charter component of the plan.
"Providing insurers with the option of a single regulator for
insurance will benefit consumers and will be more efficient,
effective and rational," said Marc Racicot, president of the
group of large property-casualty insurers.
But the National Association of Mutual Insurance Companies,
another industry group, said it was "disappointed" because the
Paulson plan "recommends a shift in insurance regulatory
authority away from the states to the federal government."
The mutual association's president, Charles Chamness, said, "One
threat to effective insurance regulation is the creation of a
dual regulatory structure. The Treasury recommendation for an
oversight office and a federal guarantee system appears to be a
step toward dual and overlapping regulation."
Opponents of optional federal charter, such as insurance agents
and state regulators, tend to favor keeping a state-based
system, but improving it to make state rules and procedures more
uniform.
(Editing by Leslie Adler)
© Reuters 2008 All rights reserved
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2.
NAIC Reponse To
Treasury Report |
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Statement from NAIC President Sandy Praeger
ORLANDO, Fla. (March 31, 2008) — National Association of Insurance
Commissioners (NAIC) President and Kansas Insurance Commissioner Sandy
Praeger today issued the following statement in regard to the U.S.
Treasury Department’s Blueprint for Financial Regulatory Reform:
“State regulators are glad that someone at the federal level is finally
paying attention to the financial crisis facing our nation. In our
comments to the Treasury as this report was being developed, we noted
that better coordination and communication among federal and state
regulators is essential to effective oversight of the financial services
sector. However, any change should not put the needs and convenience of
Wall Street ahead of the cares and concerns of Main Street.
“Clearly, the current climate of less regulation and less
accountability has led to the turmoil affecting broad sectors of our
nation’s economy. We agree that federal action to look at system risk is
long overdue. We agree that the federal government needs to remodel
their financial regulatory house, but they need to leave the insurance
“room” alone!
“While we certainly support better coordinating and modernizing of
their oversight efforts, “Modern” does not mean “Federal.” State
insurance regulators are marginalized in this report and, frankly, for
our sector it looks more like a solution in search of a problem.
“State insurance regulators are accused of inefficiencies in oversight,
but we need look no farther than Hurricane Katrina to see how well
federal solutions serve the nation.
“State regulators challenge the proponents of a federal solution to
trace the origins of the current problems in the housing and bond
insurance markets … and they will find that the true failures lie with a
lack of coordinated federal oversight.
“This voluminous plan only seems to offer more preemption of state
oversight, not less. Not only does the plan not address the roots of the
problem, but the proposed “solution” is needlessly complex. While we
welcome a review of the federal failures, we strongly caution against
federal intervention in a state-based system that is working for
consumers and industry alike.” |
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3.
US Treasury Secretary's
regulatory remarks |
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Mon Mar 31, 2008 10:58am EDT
In
addition to standards, the MOC would provide important information to
the marketplace about the strength of state's mortgage compliance
standards. The MOC would evaluate, rate, and report on each state's
adequacy for licensing and regulation of participants in the mortgage
origination process.
These evaluations would grade the overall adequacy of a state system by
descriptive categories, indicating a system's strength or weakness.
These evaluations could provide further information regarding whether
mortgages originated in a state should be viewed cautiously before being
securitized. This powerful Commission, coupled with the Federal
Reserve's strong regulatory proposal regarding the HOEPA rules, should
go a long way in preventing recent issues from recurring.
Intermediate
Term Recommendations
Payment and Settlement Systems
Merge SEC and CFTC
Optional Federal
Charter for Insurance
Insurance presents a clear need for regulatory
modernization. States have been the primary regulator for insurance for
over 135 years. While a completely state-based regulatory system for
insurance may have been appropriate at one time, insurance market
changes have put increasing strains on the system. A state-based
regulatory system is quite burdensome. It allows price controls to
create market distortions. It can hinder development of national
products and can directly impact the competitiveness of US insurers.
There have been numerous attempts to modernize the regulatory structure
for insurance.
At
this time, it seems clear that the way forward is to give insurers the
ability to elect for federal regulation.
Therefore, in the Blueprint we recommend the establishment of a federal
insurance regulatory structure to provide for the creation of an
Optional Federal Charter for insurance firms, similar to the current
dual-chartering system for banking. This system would be built on a
proven model and we recommend, as in the banking sector, that this
federal agency be housed within the Treasury Department. This is the
most effective way to address these issues and we outline the critical
elements to this legislation.
Revocation of the Federal Thrift Charter
Conclusion
We recognize that these ideas will generate some controversy
and healthy debate. This is not unlike the circumstances surrounding the
1991 "Green Book," which after a period of constructive discussion
resulted in the passage of the Gramm-Leach-Bliley Act, modernizing our
financial services industry. One of the most constant aspects of
American life is change and nowhere is it more evident than in our
financial markets. If private sector institutions don't change, they
become obsolete. Our regulatory structure also needs to change and
evolve to one which will stand the test of time. Once we are through
this period of market stress we need to begin the serious work of
modernizing and reforming the structure, which will require a great deal
of discussion and many years to complete. This will not be a small or
easy effort transformative efforts rarely are. But this is a subject we
must debate, and ultimately address, for our long-term economic growth
and prosperity." (Reporting by Lisa Lambert)
©
Reuters 2008 All rights reserved |
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4.
Friends rejects $7
billion JC Flowers takeover offer |
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Mon Mar 31, 2008 6:42am EDT
LONDON (Reuters) - British insurer Friends Provident (FP.L: ) rejected a 3.5 billion pound ($7 billion) cash
takeover proposal from U.S. private equity firm JC Flowers because it
"significantly undervalues" the firm, Friends said.
(Reporting by Chris Wills and Steve Slater; Editing by Quentin Bryar and
Quentin Webb)
($1=.5005 Pound)
©
Reuters 2008 All rights reserved |
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5.
Big “I” Opposes Blueprint Plan For Insurance |
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System needs reform, not wholesale replacement WASHINGTON, D.C., March 31, 2008— The Independent
Insurance Agents & Brokers of America (the Big “I”) expressed its
opposition to the insurance provisions contained in the Blueprint for
Regulatory Reform unveiled today by Treasury Secretary Henry Paulson.
In reference to the Optional Federal Charter (OFC) section, The Big “I”
notes that the Treasury Department has not recognized that the current
insurance regulatory system has functioned effectively to protect
consumers and the safety and soundness of the industry. State regulation
has a much better track record than federal regulation for achieving
meaningful results and assistance for consumers. A clear example of
federal regulation failing for financial services is the current
subprime mortgage mess, a problem that was created under the watch of
federal regulators.
"While there may be some merit in the role envisioned for the Fed to
identify and facilitate corrections of systemic problems in the
financial services industry, the OFC section of the blueprint is clearly
swimming upstream,” says Bob Rusbuldt, Big “I” President & CEO. “It’s
hard to see Congress supporting a proposal that calls for massive
deregulation of the industry and a huge new federal bureaucracy.”
Insurance, under its current regulatory structure, remains one of the
few stable sectors in the financial services industry. In fact, S&P just
released a report showing that insurer insolvencies are currently at a
10-year low. The Big “I” questions the value in overhauling regulation
for a sector of the financial services industry that has been a bright
spot of stability.
www.independentagent.com.
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6.
The Council Praises
Bush Administration OFC Proposal |
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WASHINGTON – Leaders
of The Council of Insurance Agents & Brokers Monday praised the Bush
Administration for its support of the Optional Federal Charter (OFC) for
insurance companies and producers, calling the move a turning point in
the decades of efforts to modernize insurance regulation.
The administration's
support for the OFC was announced Monday by Treasury Secretary Henry
Paulson as a part of a broader blueprint for international financial
regulatory modernization. For more than three years, the Treasury
Department has been engaged in an intensive dialogue with major
stakeholders impacted by the industry, and Paulson's announcement marks
the first-ever official endorsement of the OFC by any White House.
"Insurance is an increasingly global business, and inherently
interstate, but state-by-state insurance regulation has failed to keep
pace with convergence and consolidation," said Ken Crerar, president of
The Council, which represents the leading domestic and international
commercial insurance agents and brokers. "These reforms will increase
service and safety to consumers and lead to more innovations."
"We've supported the
OFC since the concept was introduced in the early 1990s, and we're
delighted Secretary Paulson has given this legislation a much-needed
lift," Crerar said. "Clearly, the secretary understands global markets
and the challenges of appropriate regulation that protects consumers and
facilitates competition. The fact that a conservative Republican
administration is now supporting this effort – which was first initiated
by a leading Democratic congressman, Michigan's John Dingell – speaks
volumes about the intellectual fire power behind this proposal."
For details on the
Paulson announcement and the proposal, click
here.
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7.
A Statement from Steve
Bartlett, President and CEO of The Financial Services Roundtable on the
Release of the Treasury's Blueprint |
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The Roundtable Applauds Treasury's Blueprint for Regulatory Reform
Stresses the Urgent Need for a More Effective Regulatory Structure
WASHINGTON, March 31 /PRNewswire/ -- The Financial Services Roundtable
welcomes the Treasury Department's blueprint to overhaul the nation's
financial regulatory system and applauds Secretary Henry M. Paulson, Jr.
for providing a foundation upon which Congress, the Administration and
the financial services industry can work together to address the serious
current market conditions. Many of the recommendations found in the
blueprint will ensure strong, competitive financial markets which are
vital to our economy, to consumers, and to job creation. |
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8.
AIA Applauds Treasury
Recommendation of 'OFC' in Blueprint |
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WASHINGTON, March 29 /PRNewswire-USNewswire/ -- Gov. Marc Racicot,
president of the American Insurance Association (AIA), today applauded
the recommendation of establishing an optional federal charter ("OFC")
for insurers as outlined by the Dept. of the Treasury's Regulatory
Blueprint of Financial Regulation.
Gov. Racicot's statement follows:
"The recent turmoil in financial markets has, in a dramatic way, called
attention to the stability and strength of America's interconnected
financial institutions, including the role non-bank financial
institutions and insurance play in today's global financial markets.
Treasury's blueprint accurately relies upon consumer protection, the
growth and stability of the broader economy, financial solvency, and
global competitiveness as the reasons for creating an integrated and
comprehensive financial sector regulation at the federal level.
"The inclusion of an 'Optional Federal Charter' for insurance, as
outlined in the Treasury blueprint, is a major milestone in that it
recognizes the important role that the insurance industry now plays in
this new financial world of integrated and interconnected markets.
"Providing insurers with the option of a single regulator for insurance
will benefit consumers and will be more efficient, effective and
rational given the 'increasing tension' a state-based regulatory system
creates. http://www.aiadc.org |
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9.
Treasury Releases
Financial Services Regulatory Blueprint; NAMIC Disappointed with Plan |
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WASHINGTON (March 29, 2008) – The Department of the Treasury is poised
to release its blueprint for reform of the regulatory structure of the
nation’s financial institutions. Release of the blueprint follows the
request for public comment in November 2007 and is designed to develop a
regulatory structure to “improve efficiency, reduce overlap, strengthen
consumer and investor protection, and ensure that financial institutions
have the ability to keep pace with evolving markets.”
The Treasury blueprint recommends a shift in insurance regulatory
authority away from the states to the federal government. “NAMIC urged
Treasury to focus on the philosophy and execution of regulatory
objectives; however, the blueprint focuses more on consolidation of
regulatory authority,” said Charles M. Chamness, NAMIC's president and
CEO. “The inefficiencies in the insurance marketplace are less the
result of the current functional regulatory framework than the
philosophy and execution of the regulatory objectives.” |
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10.
Agents for Change
Strongly Supports Treasury’s Blueprint for Financial Regulatory Reform |
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March 31,
2008
Agents for
Change commends Treasury Secretary Henry Paulson for recognizing the
need for an optional federal charter (OFC) for producers and insurers in
the Department of the Treasury’s Blueprint for Financial Regulatory
Reform.
The current
regulatory framework for insurance was developed in the 19th century.
Over 135 years later insurance producers need a modern regulatory
structure to best serve their customers. Importantly, however, for
agents and brokers who choose to continue to be licensed at the state
level an OFC will leave the existing state system intact.
www.agents4change.net |
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11.
Optional Federal
Charter Coalition Launches New Web Site |
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Vital new resource for tracking OFC developments
WASHINGTON, March 28 - The Optional Federal Charter Coalition today
launched a new Web site,
www.OFCcoalition.com, that will provide information on how an
Optional Federal Charter benefits consumers and enhances the global
competitiveness of the American insurance industry. The site serves as a
valuable educational resource, providing real-time access to press
releases from the OFCC and member trade associations, up-to-date issue
briefs, legislative briefs, and a wealth of useful analysis and survey
information.
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12.
INSURANCE NEWSLINK
Articles |
|
Recent articles added to INSURANCE NEWSLINK, the worldwide, strategic
concise intelligence database of over 30,000 articles including
interviews, uniquely analysed by company, market, research, regulatory,
and IT topics.
Please click here for a content overview and a 15-day
free review.
THE TIME EFFECTIVE WAY TO STAY AHEAD
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JC
Flowers finally makes a new move for Friends Provident
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Perkins Slade to be acquired by Oval
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Aspen to form Lloyd's syndicate
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Pre-tax profit dips at Royal London but operating profit up
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Snapshots Hungarian non-Life Insurance 2008
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SCA to cut staff
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Montpelier Re deploys OneShield Dragon in US
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Allied World launch US reinsurance platform
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Equitable Life could see sale of remaining book this year
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Call for insurers to take the opportunity to understand impact of
Solvency II
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Vienna on the move
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Cooper Gay acquire in Canada
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Cobra has a good year
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CCV swoops in Wales
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New fire risk model from RMS
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UK
life insurers withstanding credit crunch... so far says Fitch
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AXA Chinese jv gets the green light for new branch
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Lloyd's looks to Poland
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Millea to be renamed Tokio Marine
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US
p & c net income dipped in 2007 says Fitch
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Net profits up at Baloise as future chief executive announced
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Swiss Life beats forecasts
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Canopius to open in Singapore
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Ecclesiastical into underwriting loss after UK floods
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Zurich US streamlines small commercial process
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FCCI deploys Guidewire Claimcenter
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Axis Insurance in production with AdminServer solution
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AIG sues Greenberg and other former directors
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13.
Bank Insurance News In
Brief - March 31, 2008 |
TODAY'S BANK INSURANCE
IN BRIEF" is provided each week courtesy of Michael White Associates @www.bankinsurance.com.
To read these stories , visit
http://www.bankinsurance.com/editorial/news/default.htm
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MUTUAL FUND AND ANNUITY SALES AND SERVICING BRING BANKS $5.8 BILLION IN
2007
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SEC OK’S STREAMLINED APPROVAL PROCESS FOR SALES MATERIALS
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FINRA’S 2008 EVALUATIONS WILL ZERO IN ON VARIABLE ANNUITY SALES
PRACTICES AND SENIORS
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NEW DISCOVER WEBSITE OFFERS TERM LIFE, AUTO AND HOMEOWNERS INSURANCE
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FORMER REGIONS FINANCIAL CEO TAKES THE HELM OF MUTUAL OF OMAHA’S BANK
MARKET
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CITIGROUP SUB TO MARKET ALLIANZ LIFE’S VARIABLE ANNUITY PRODUCTS IN
JAPAN
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14.
John Hancock Led
Industry in New Long-Term Care Insurance Sales in 2007 |
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John Hancock is the #1 Long-Term Care Insurance carrier for new premium
sold in 2007
BOSTON, March 31 /PRNewswire-FirstCall/ -- John Hancock Life Insurance
Company sold more long-term care insurance (LTCI) than any other carrier
in 2007, according to recent year-end surveys of long-term care insurers
by LIMRA International (LIMRA)(1). John Hancock sold more than 100,000
policies/certificates, resulting in $197 million in total premium,
across its retail and group LTCI businesses. The company was one of few
carriers in the industry to experience double-digit growth in new
premium sold year over year, and was also the top carrier for number of
new lives sold.http://www.johnhancock.com |
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15.
Reduce Four Key Threats
to Your Financial Health at New Web Site |
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Wilmaanderson.com Builds “Bridge to Safety”
LITTLETON, Colo.—March 31, 2008—Key threats to your financial health
include critical illnesses, accidents, identity theft and lack of
retirement planning, and now there’s a resource that offers information
and solutions for all four:
www.wilmaanderson.com and
www.boomerretirementcoach.com.
“Creating a ‘bridge to safety’ can mean the difference between sleeping
peacefully at night, or wondering if you’ve protected yourself and your
family,” says Wilma Anderson, a Colorado financial advisor who counsels
people from average folks to sports celebrities.
Her site offer solutions for:
• Planning and investing for retirement. Steps include
creating a realistic investment strategy, planning for long-term care,
consolidating retirement accounts and possibly using life insurance and
annuities to supplement your IRA and 401(k).
• Identity theft protection. Take steps to thwart ID thieves
and consider low-cost insurance that helps you recover if you’re
victimized.
• Critical illness protection. If you were stricken with a
heart attack, a stroke, cancer Alzheimer’s or other major illness, you
may face a big financial loss, despite health or disability insurance.
Critical illness insurance pays a lump sum if you’re diagnosed with a
covered illness.
• Accident expense. A little ice on your walkway or bad luck
on the highway can mean you’ll run up medical bills and even miss work.
Accident-expense insurance can ease the financial pain.
Anderson formed Senior Care Associates, in Littleton, Colo., in
1987. Specializing in long-term-care planning, retirement investing,
life insurance, annuities, and mutual funds, she holds the Investment
Advisor Representative (IAR) and Registered Financial Consultant (RFC)
designations. She’s written dozens of articles for financial and
insurance magazines.
For more information, visit either
www.wilmaanderson.com or
www.boomerretirementcoach.com.
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17.
Southern California
Trio Arrested for International Auto Insurance Fraud; |
|
Two More Suspects Remain at Large
Alleged Conspiracy Includes Mother and Son…Husband and Wife…and a Car
Taken to Mexico
SACRAMENTO Insurance Commissioner Steve Poizner announced today the
arrests of three individuals allegedly involved in a five-person
conspiracy that resulted in a vehicle owned by one of the conspirators
driven to Mexico where it was "chopped" (i.e., taken apart so that its
parts can be used or sold separately).
Each felony insurance fraud charge is punishable by up to five years in
prison and/or a $50,000 fine. |
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|
18.
Wells Fargo Introduces
the Family Wealth Group |
|
SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo Bank, N.A. today introduced
the Family Wealth Group, a comprehensive multi-family office serving
ultra-wealthy families who manage their wealth across generations. The
Family Wealth Group, part of Wells Fargo Private Bank, combines superior
investment management and risk management capabilities with a broad view
of wealth management that includes family enterprise governance and
legacy planning.
Families with $50 million or more in assets are the fastest growing
wealth segment today. Wells Fargo has developed capabilities for
managing the current and future impacts of wealth on all aspects of
family life, in response to the changing needs of these families.
|
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|
19.
BestWeek: Signs Point
to Greater Competition Between Auto Insurers in Mass. |
|
OLDWICK, N.J.--(BUSINESS WIRE)--Average Massachusetts automobile
premiums are among the highest in the United States, but on April 1,
2008, Insurance Commissioner Nonnie Burnes will transform the
Commonwealth's private passenger automobile insurance industry by
reversing a 30-year history of state-regulated rates. The state's
so-called “fixed-and-established” system of setting private passenger
automobile insurance rates will end and the industry will begin the
transition to “managed competition.”
Automobile insurers will be relatively free to determine their own
rates, subject to regulatory oversight. But they will be prohibited from
using socioeconomic factors for rating or underwriting, and credit
scoring is banned at least for the initial year. A new A.M. Best Special
Report looks at how this change may affect the marketplace.
In
an excerpt published in Best Week U.S./Canada, A.M. Best anticipates
that competition will accelerate, as well-capitalized regional or
national writers follow Progressive's move into the state, as a result
of the new system. |
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20.
INSURANCE NEWSCAST "Pictures Of The Day" -- Sponsored By:
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President George W. Bush throws out the
ceremonial first pitch at Nationals Park in Washington March 30, 2008.
The Washington Nationals baseball team played their first regular season
game at their new home, Nationals Park, against the Atlanta Braves on
Sunday. REUTERS/Jason Reed |
 |
White storks stand on their nests
near Caceres in the Spanish region of Extremadura March 30, 2008. The
storks have been building their nests on poles placed by bird
enthusiasts to help them breed. REUTERS/Nacho Doce |
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Angola's Jose Marcos Barrica, head
of the Southern African Development Community (SADC), addresses a news
conference on the recent Zimbabwean elections in Harare March 30, 2008.
Barrica told reporters through an interpreter the election "has been a
peaceful and credible _expression_ of the will of the people of Zimbabwe."
REUTERS/Mike Hutchings |
 |
Britain's Prince William arrives to
talk with members of the "Cycle of Life" team at Clarence House in
London March 31, 2008, before they set off for their 5000 mile ride
across rural Africa in aid of charity "Tusk Trust". REUTERS/Stephen Hird
(BRITAIN) |
 |
Jewgenij Kuschnow of Austria poses
for photographers while he sets a World Record in doing the splits
between two cars for 36.48 seconds along during the Impossibility
Challenger in Dachau, about 15 kilometres north of Munich March 30,
2008. The fourteenth annual Impossibility Challenge, where competitors
attempt to break or make new World Records in unconventional and unusual
disciplines, was held on Sunday. REUTERS/Michaela Rehle (GERMANY) |
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Men are caught in a dust storm while
playing cricket at a playground in Kabul March 31, 2008. REUTERS/Ahmad
Masood (AFGHANISTAN) |
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U.S. Treasury Secretary Henry
Paulson speaks at the Treasury Department in Washington March 31, 2008.
Paulson revealed sweeping new plans on Monday for streamlining a
hodgepodge of regulation faulted for permitting the U.S. mortgage crisis
to balloon into a full-blown economic threat. REUTERS/Jason Reed (UNITED
STATES) |
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A Chinese Opera performer waits
during the "Welcome Ceremony for the Olympic Flame and the Launching
Ceremony of the Beijing 2008 Olympic Torch Relay" at Tiananmen Square in
Beijing, March 31, 2008. China's president and the country's top athlete
launched the Beijing Olympics torch relay on Monday amid cheering,
dancing and tight security, marking the symbolic start to a Games
overshadowed by activism and unrest in Tibet. REUTERS/Claro Cortes IV
(CHINA) |
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