(Bloomberg) ? A former Tyco International Ltd. executive testified that he used company time to obtain personal insurance policies to cover homes, artwork, and yachts owned by L. Dennis Kozlowski, who was then chief executive officer.

Gerald Goetz, who was in charge of risk management at Bermuda-based Tyco, told jurors at the fraud trial of Kozlowski and ex-Chief Financial Officer Mark Swartz that he spent about five percent of his time lining up personal insurance for the two men and other top executives.

?It was part of the job,? Goetz testified at the trial in state court in New York. ?They had senior posts in the organisation, and I wanted to help them.?

Goetz is the third witness to testify that he did personal work on company time for Kozlowski and Swartz, who are accused of raiding company loan programmes to steal $170 million and then using the money to buy homes, yachts, jewellery and artwork.

Earlier this month, Kathleen McRae told jurors she ran a three-person department at Tyco that managed the defendants? personal financial matters.

Former Tyco construction director John Taylor said the two men asked him to ?look in? on a number of building projects at houses they owned.

Kozlowski and Swartz are also accused of making $430 million from sales of Tyco stock whose price they allegedly manipulated by misleading investors.

Goetz said he arranged personal policies for Kozlowski, Swartz and five other Tyco employees, including former human resources director Patricia Prue; Barbara Jacques, who was an events planner for the company; and former treasurer Michael Robinson.

Goetz said he didn?t know who paid the premiums.

The bills were charged to Kozlowski and Swartz?s relocation loan accounts, he said.

Tyco would pay the bill and log it as a debt owed by the executive to the company, he said.

Prosecutors contend that the two men sometimes forgave the debts in loan accounts by granting themselves unauthorised bonus payments.

Goetz told jurors he obtained policies for homes and yachts owned by Kozlowski and Swartz and once arranged to get medical insurance for the crew of Kozlowski?s yacht, the Endeavour.

Goetz said Kozlowski asked him to make sure the crew?s health coverage was kept ?separately from any Tyco program?.

Goetz also said he was asked in December 2001 to insure almost $9 million worth of art Kozlowski had bought.

A $3.95 million painting by French impressionist Claude Monet was later added to the policy, he testified.

Goetz began getting appraisals and finding an underwriter with the understanding that the art belonged to Tyco, he said.

A few weeks later, he was told Kozlowski was the owner, Goetz testified.

Former Tyco director James Pasman, who served on Tyco?s board from 1997 to 2002, echoed the testimony of his former board colleagues in his testimony yesterday.

Pasman, the fourth former director to testify at the trial, told jurors that the bonuses that Kozlowski and Swartz gave themselves and other top executives were never approved by the board or its compensation committee.

Also yesterday, prosecutors asked State Supreme Court Justice Michael Obus to compel a reporter from Business Week magazine, William Symonds, to testify.

Symonds wrote Tyco-related articles in 1999 and 2000 that prosecutors want to question him about. Assistant District Attorney John Moscow told Obus that Kozlowski was quoted in the articles as making statements that are germane to the charges of stock fraud.

In one story, Kozlowski is quoted as saying: ?I would never sell a single share at these prices and have told my friends and family to buy.?

The request was opposed by an attorney for the magazine, Susan Buckley, who asked Obus to quash the subpoena issued to Symonds.

Buckley cited New York?s shield law, which protects reporters from having to reveal sources of information. Obus deferred a decision on the matter. Shares of Tyco fell 23 cents to $25.07 in New York Stock Exchange composite trading.