By Nemo Perera

There are four essential steps required to secure insurance for unique/unconventional risks:

1. Frame a sound (yet unconventional) proposition as to why the risk can be insured;
2. Define and structure the optimal risk mitigation vehicle;
3. Educate the insurance market on the merits of the risk in a language that underwriters/actuaries are comfortable with;
4. Intelligently determine the optimal pricing for the risk while maintaining the economic value in transferring said risk.

There are also crucial human elements: a credible team of experienced insurance professionals who began their respective careers as insurance carrier executives, actuaries and underwriters. Equally important is a success-driven culture: an entrepreneurial team that can build the necessary actuarial models, write a compelling pitch book, and prepare a draft manuscripted policy – in language that will not only educate insurance markets, but encourage them to take on the risk.

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By Garnet Heraman

Krispy Kreme Doughnuts is a troubled company. Its accounting is under investigation by regulators, and it has not filed any financial statements since August. Bankers froze access to its credit lines.

And yet, with relative ease, Krispy Kreme obtained $225 million in new loans this week. The company was able to raise the money because it is paying high rates to attract hedge funds and other investors, who are increasingly willing to elbow aside banks when it comes to lending to riskier companies.

Hedge funds are particularly active buyers of a type of loan known as a second lien, which accounted for much of the money raised by Krispy Kreme. In the event of a bankruptcy, buyers of these loans get their money back only after other creditors - the first-lien lenders - are paid.

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Claude Leglise, a key executive at Intel Capital, will step down this Friday, in the second major departure from the venture unit in less than a month. His departure follows on the heels of the resignation of Intel Capital President John Miner, who announced on March 24 that his last day is June 1.

Two sources close to Leglise say that he plans to do something venture related apart from Intel. Leglise was not immediately available for comment because he is traveling in China today.

One Silicon Valley venture capitalist who has done deals with Intel Capital speculated that the departures of the two executives might stem from the fact that Paul Otellini is taking over as CEO of Intel from Craig Barrett in May and may want to shake things up.

Leglise is a vice president of Intel Capital and director its "International sector." He started his career at Intel in 1982 in the company’s Microprocessor Division "where he launched Intel’s first 32-bit microprocessor, the 386, and its successor the 486," according to a bio on Intel’s website. "During his tenure as director of marketing he pioneered the branding of microprocessors. He also served as general manager of the Supercomputer Components Operation."

The McKinsey Quarterly, Web exclusive, February 2005 Report says that “India, for some time now the focal point of the global trend toward strategic offshoring, has simultaneously become appealing as a market in its own right. With GDP growth more than double that of the United States and the United Kingdomduring the past decade, and with forecast continued real annual growth of almost 7 percent, India is one of the world’s most promising and fastest-growing economies, and multinational companies are eagerly investing there……”

April 4, 2005 - ChevronTexaco Corporation (NYSE:CVX) and Unocal Corporation (NYSE:UCL) announced  that ChevronTexaco would acquire Unocal in a stock and cash transaction valued at approximately $18 billion, including net debt. The acquisition, which is subject to approvals by Unocal shareholders and certain regulatory agencies, will significantly enhance ChevronTexaco’s position as a leading global energy provider.

ChevronTexaco expects oil-equivalent production from the combined portfolios during 2006 to average about 3 million barrels per day. Unocal’s 1.75 billion barrels of oil-equivalent proved reserves would increase ChevronTexaco’s reserve base as of the end of 2004 by about 15 percent

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