Risk

The Human Element

Web portals have simplified brokers' lives when it comes to communicating data to carriers. But have they minimized the chances of making errors during the data-entry phase? More importantly, have they over-commoditized the product, separating the client from the broker's advice?

January 31, 2008

7 min read

Two Sides of Same Coin

Underwriting does not simply equate to policy administration, and so it's not safe to assume that systems supporting underwriting activity are the same as those that support policy administration

January 31, 2008

6 min read

Reaching Maturity

Commercial brokers' data communications with carriers are poised to reach the next level: a two-way data exchange -- that is, both uploading and downloading capability -- between commercial brokers and carriers

January 31, 2008

6 min read

Enhancing Auto Statistics

IBC's introduction of new tech for the collection of auto insurance data will have a number of other, ancillary benefits

January 31, 2008

3 min read

Making a Big ‘FUS’ With GIS

Using a fire underwriting survey (FUS) in conjunction with geographic information systems (GIS) gives underwriters far greater detail for their risk analyses

January 31, 2008

4 min read

Moves (February 01, 2008)

Keal Technology and ING Insurance Company of Canada announced a “commercial integration relationship,” in which Keal’s commercial management system (CMS), comXP, will exchange data with the ING Insurance broker application SaversCL. Using CSIO XML standards, data can be exchanged between broker and insurer using CMS applications like Keal’s comXP, a Keal release says. The integration […]

January 31, 2008

7 min read

Decorative pattern

1998 Ice Storm would cost twice as much in 2008

Today, a recurrence of the 1998 Ice Storm in eastern Ontario and Quebec would result in total insured losses of between US$1 billion and US$3 billion — potentially twice the US$1.3-billion cost incurred in 1998, according to a retrospective report by Risk Management Solutions (RMS). RMS released the report on the 10th anniversary of the […]

January 31, 2008

1 min read

Decorative pattern

CCIR wants to start dialogue on risk-based regulation

The Canadian Council of Insurance Regulators (CCIR) is looking to foster dialogue between regulators and stakeholders on the basic approaches to risk-based market conduct regulation (RbMCR) in Canada. RbMCR means directing regulatory efforts to the most significant issues that either have the greatest potential for consumer harm or that could weaken public confidence if left […]

January 31, 2008

1 min read

Decorative pattern

Reinsurers’ market discipline starting to “dwindle”: Benfield

Another year of comparatively mild losses for the reinsurance market in 2007 means “any remaining post-loss caution from previous years is rapidly dwindling,” according to the report Changing the Game, published by Benfield, an independent reinsurance and risk intermediary. The report finds property catastrophe rates at the January 2008 renewals are continuing to decline. “Risk-adjusted […]

January 31, 2008

1 min read

Decorative pattern

Multinationals face elevated political and economic risk levels in 2008

Multinational organizations face elevated political and economic risks in 25 of the 50 largest global economies, according to an analysis released by Aon Trade Credit Global. Such risks include business interruption caused by war, terror attacks and political interference, Aon reports. Political and economic risk is highest in the oil-rich nations of Iran, Nigeria and […]

January 31, 2008

1 min read

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