David C. Farmer vs. Harmon - Witness Dean O'Hare

David C. Farmer, Successor-Trustee vs. Harmon

(Formerly Woo vs. Harmon & Nicholson vs. Harmon)

CV05-00030 DAE KSC

U.S. District Court For the District of Hawaii

Judges: David A. Ezra; Kevin S. Chang

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DEFENDANT’S WITNESS

DEAN R. O’HARE

Former President and CEO of The Chubb Corporation

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Chubb News Release

November 3, 2002

John Finnegan, Chairman of GMAC, Will Succeed Dean O’Hare As President and CEO of Chubb on December 1; Lead Director Joel Cohen Will Become Non-Executive Chairman

Thomas Motamed Is Promoted to Vice Chairman and COO;
John Degnan and Michael O‘Reilly Are Promoted to Vice Chairmen

Warren, New Jersey, November 3, 2002 – John D. Finnegan, Executive Vice President of General Motors Corporation [NYSE:GM] and Chairman and President of General Motors Acceptance Corporation [GMAC] has been elected President, CEO and a Director of The Chubb Corporation [NYSE:CB], effective December 1. Mr. Finnegan will succeed Dean R. O’Hare, who will retire as Chairman and CEO on November 30 after 39 years with Chubb, including 14 years as CEO.

In addition, Chubb’s Lead Director, Joel J. Cohen, has been elected non-executive Chairman of the Board. Executive Vice President and Chief Operations Officer Thomas F. Motamed has been promoted to Vice Chairman and Chief Operating Officer. President John Degnan and Executive Vice President Michael O’Reilly have been promoted to Vice Chairmen and will retain their current responsibilities. The three new Vice Chairmen will report to Mr. Finnegan. All of these changes will be effective December 1.

Born in Jersey City, New Jersey, Mr. Finnegan, 53, has a B.A. degree in political science from Princeton University, a law degree from Fordham University and an M.B.A. from Rutgers University. He joined the GMAC tax department in 1976. He held various positions in GM’s treasury department, including international banking, foreign exchange and benefits funding. In 1985 he returned to GMAC as director of strategic planning. In 1986 he became chief financial officer of GMAC Mortgage Corporation. Returning to GM in 1987, he served as assistant treasurer of worldwide benefits and compensation and in 1989 became assistant treasurer of international financing operations. He became Executive Vice President and Chief Financial Officer of GMAC in 1992, Vice President and Treasurer of GM in 1995, and President of GMAC in 1997. He assumed his current titles in 1999. GMAC offers several insurance products, including extended warranty protection, dealer inventory insurance and personal automobile insurance. Mr. Finnegan resides in Wyckoff, New Jersey with his wife, Kathleen, and two children.

GMAC is one of the world’s largest financial services companies, with 2001 revenue of $15 billion. GM’s revenues were $177 billion.

"John Finnegan is one of the world’s premier financial services executives," said Mr. Cohen. "Chubb already has excellent underwriting and claims talent. John brings world-class managerial and financial talent as well as outstanding qualities of leadership, intellect, sophistication and vision. We are confident he will lead Chubb to new levels of achievement for shareholders and customers."

The Board decided to separate the Chairman and CEO functions in accordance with best practices in corporate governance. "As Chubb’s senior outside director," said Mr. O’Hare, "Joel Cohen is thoroughly familiar with the company and its operations, and he will play a key role in orienting John with the company and the Board."

"I am excited to be joining a company of Chubb’s quality and reputation," said Mr. Finnegan. "I have always regarded Chubb as the class act in the industry. It has a well deserved reputation for maintaining financial integrity, settling claims with fairness and speed, providing superior service and products to customers and producers, and maintaining a progressive workplace for employees. With the help of my new colleagues at Chubb, I intend to get up to speed quickly on the company and the industry so that we can tackle the issues that face the company head-on."

"I couldn’t be more pleased with my successor," said Mr. O’Hare, who served on the search committee. "His values, style and personality are an excellent fit with Chubb, and he is an outstanding financial services executive, people manager and strategic thinker. I am confident he is the right person to lead Chubb into the future."

Mr. Finnegan will also serve as Chairman of the Board and CEO of Federal Insurance Company, the largest of the Chubb group of insurance companies, and as Chairman and CEO of Chubb & Son, a division of Federal and the company’s principal operating arm. Mr. Motamed will serve as President and Chief Operating Officer of Federal and of Chubb & Son.

Founded in 1882, Chubb is one of the world’s premier property and casualty insurers, with 12,600 employees serving customer in 134 offices in North America, South America, Europe and Asia. Revenues in 2001 were $7.8 billion.

For further information contact:

Investors:
Glenn A. Montgomery
(908) 903-2365

Media:
Mark E. Greenberg
(908) 903-2682

CEOs of Chubb

Percy Chubb 1882 to 1911

Hendon Chubb 1911 to 1946

Percy Chubb II 1946 to 1970

William M. Rees 1970 to 1981

Henry U. Harder 1981 to 1988

Dean R. O'Hare 1988 to 2002

John D. Finnegan 2002 -

http://www.chubb.com/news/pr20021103.html

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Dean O'Hare, Former CEO of the Chubb Corporation, Elected to Chair SeaPass Board of Directors

Business Wire , Sept 29, 2004

NEW YORK -- Dean R. O'Hare, former chairman and chief executive officer of The Chubb Corporation, has been elected chairman of the board of directors for New York-based SeaPass Solutions, a leading developer of software for the insurance industry.

"I am delighted to head the SeaPass board because I am convinced that SeaPass has created a solution to what I thought for decades to be the most critical problem the insurance industry faces - real-time connectivity and communications," said Mr. O'Hare. "For years in the business, I have struggled with this issue and, frankly, thought it was impossible to resolve. Yet, from a single technology platform, the SeaPass solution literally enables easy, error-free data exchange and interaction among agents, carriers, brokers and wholesalers to get quotes and bind coverage in seconds. This solution is so critical to the future of the industry that I have given SeaPass my full support to help them succeed where existing systems currently have not."...

O'Hare retired as chairman and chief executive officer of The Chubb Corporation, one of the world's leading property and casualty insurance companies, at the end of 2002, capping more than 40 years of distinguished leadership in the industry. He served as a member of the President's Advisory Committee on Trade Policy and Negotiations. He was a member of The Business Roundtable and the Global Business Dialogue on E-commerce, and was a financial governor of the World Economic Forum (Davos). He served as a director of the American Insurance Association for 15 years and as chairman for 4 years. O'Hare is currently a director of Fluor Corporation and H.J. Heinz Company, chairman of the New Jersey Partnership and Chairman of the United States Council for International Business.

"We are extremely fortunate to have as our chairman a business statesman of Dean O'Hare's stature," said SeaPass President of U.S. Operations, Eric Gewirtzman. "His prominence in both the national and international insurance industry, along with his management insight and leadership will be a tremendous asset to our Board of Directors."

About SeaPass

SeaPass Solutions, founded in 2000, is headquartered in New York City. The company develops and markets solutions that enable insurance carriers, agents, brokers and wholesalers to transmit and receive data in real-time and leverage existing systems to automatically interact with one another, leading to reduced costs, better new business and successful transactions. Since mid-2001, SeaPass has been implementing its solutions at national insurance carriers, regional carriers, banks, large agencies and brokers.

SeaPass investors include, Hyperion, a world renowned merchant banking fund specializing in investments in financial-services related companies and pioneering technologies, and Platinum Neuron Ventures, a fund backed by global investors such as Bank of America.

For more information about SeaPass, please visit: www.seapass.com

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March 18, 2009

Judge rules against Merrill on keeping bonuses secret

Tags: Bank of America Commerce, Merrill Lynch, Wall Street

by Rudy Sutherland

(NEW YORK) A New York state judge ruled Wednesday afternoon that New York’s attorney general could disclose the names of Merrill Lynch executives who received 2008 bonuses as part of his investigation of the firm.

“The record does not support the intervenors’ claim that the employee compensation information is a trade secret,” Justice Bernard J. Fried of New York State Supreme Court wrote, referring to Merrill and its corporate parent, Bank of America.

Attorney General Andrew M. Cuomo has been demanding the names of Merrill’s 200 most highly paid employees, as part of an investigation into Bank of America’s acquisition of the firm, which was completed at the beginning of the year. The names could be released as early as Thursday.

Lawyers for Merrill and Bank of America argued last Friday that the names should not be disclosed publicly, since they were as much a trade secret as the recipe for Carvel ice cream.

“I conclude there is no legal basis for the proposed petitions to quash, fix conditions or modify subpoena and for a protective order,” Judge Fried said in his ruling.

“Today’s decision in the Bank of America case is a victory for taxpayers,” Mr. Cuomo said in a statement. “Let the sun shine in. Justice Fried’s decision will now lift the shroud of secrecy surrounding the $3.6 billion in premature bonuses Merrill Lynch rushed out in early December. Taxpayers demand and deserve transparency and now they will finally get it.”

Merrill employees were collectively given billions of dollars in bonuses shortly before its sale to Bank of America closed. Around the same time, Bank of America learned that Merrill’s fourth-quarter loss would be much larger than expected, and the shortfall forced Bank of America’s to go to the government to seek more financial aid.

Among other things, Mr. Cuomo has alleged that Merrill misled Congress about the timing of the bonuses.

As part of his investigation, Mr. Cuomo’s office has interviewed Kenneth D. Lewis, Bank of America’s chief executive; John Finnegan, the chief executive of Chubb, who headed Merrill’s compensation committee; and John A. Thain, Merrill’s former chief executive.

Bank of America has tried to prevent the names from being made public, arguing that it would cause the company “grave harm,” making it easier for rivals to poach employees and invading workers’ privacy.

Wordpress.com

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Bobby N. Harmon, CPCU, ARM

Las Vegas, NV 89118-2070

May 4, 2005

VIA fax @ 808-586-2806

Mr. J.P. Schmidt

Insurance Commissioner, State of Hawaii
335 Merchant St., Rm 213
Honolulu, Hawaii 96813

RE: Complaint Against Marsh & McLennan - Unfair Competition

First Reported on January 19, 2005

Dear Commissioner Schmidt:

This is to advise you that I have not received a response from your office to my Complaint dated January 19, 2005 regarding acts of unfair competition by Marsh & McLennan. However, I have just received a letter dated April 22, 2005 from State Senator Suzanne N.J. Chun Oakland (copy attached), in which she states:

“I am writing in response to receiving a copy of your complaint to the State of Hawaii Insurance Commissioner dated January 19, 2005 regarding unfair competition by Marsh & McLennan. Thank you for bringing this matter to my attention. My staff has read through information on your website and discussed your complaints with Amberlee Masuda, Branch Chief of the State of Hawaii Office of the Insurance Commissioner. According to Amberlee, their office does not have your January 19, 2005 complaint on file, nor are they aware of the particular issues raised in that complaint.

“While I appreciate you keeping me informed of this situation, I believe the appropriate forum for your concerns is to file a formal complaint with the State of Hawaii Office of the Insurance Commissioner. They are better suited to address your specific claims and concerns.”

As it appears your office may have misplaced my Complaint dated January 19, 2005, which would explain why I have not received a response, I am hereby transmitting to you another copy of that letter and request that your office immediately acknowledge receipt of this copy.

May I also suggest that it would be helpful in tracking this Complaint if a File Number can be assigned so that I can reference that number in future correspondence.

A copy of my Complaint dated January 19, 2005 can also be found on the internet at the following address:

www.kycbs.net/Claim-HI-Ins-Comm-1-19-5.htm

In the event your file is missing other of my Complaint letters, these may be found at:

www.kycbs.net/Claims-Branch-Commissioners.htm

Your prompt response in investigating this Complaint will be greatly appreciated.

Very truly yours,

Bobby N. Harmon, CPCU, ARM

attachment

cc: National Association of Insurance Commissioners
(via Email: www.naic.org)

Michael G. Cherkasky, President and Chief Executive Officer

Marsh & McLennan Companies, Inc. (via fax @ 212-345-4838)

John D. Finnegan, President and Chief Executive Officer