Risk
Marsh & McLennan Companies Inc. earnings have recently been lowered in its insurance services and investment management divisions. In addition, the Company’s restructuring charges have reduced the second-quarter profit to 57%.In the April to June period, the Company’s net income totaled $166 million, $0.31/share and this represents a fall from $389 million, $0.73/share, at the […]
By Canadian Underwriter | August 3, 2005
2 min read
An overwhelming 77.78% of individuals associated to Canada’s insurance industry believe that insurers should not feel obliged to volunteer coverage for damages incurred to property as a result of catastrophic flooding. The Canadian Underwriter Web Poll for July 2005 asked “Should the onus be on insurers to volunteer monetary aid when catastrophic flooding occurs regardless […]
1 min read
The continuing flux posed by a stubborn soft market presents a puzzle that by now, risk managers have "solved" by predicting appropriate purchasing practices. But, playing with puzzles is put to the test as risk managers pick up the pieces of an industry fragmented by scandal. The picture perfect result is Enterprise Risk Management, a tool for the times.
July 31, 2005
9 min read
Risk managers are embarking upon a new, evolved level of operation - one which necessitates insight, advice and answers from the various perspectives and visions of broker and insurer alike. In order to succeed in this new area of strategic, corporate risks, communication and a broadened scope of the corporate insurance world at large are key. "Perspective 2005" is designed to embrace the newfound approaches to risk management such as enterprise risk management, while maintaining an equilibrium by dealing with issues at hand and visiting tried and true issues such as claims and crisis control.
7 min read
Some countries, such as the U.S. and Australia, have made headway on reforming tort systems that many perceive to be unfair, costly and inefficient. Joint and several liability, compensatory damages, collateral sources and vicarious liability have specifically been targeted for change. Has the time come for amendments to Canada's legal rules?
10 min read
Mother nature knows no bounds, no human force can control her electric character. Her lightning personality can strike anything, anywhere, anytime. And so it reasonably stands, "everyone complains about the weather, but no one does anything about it." However, in the world of business it is possible to commandeer calamity by controlling your company's globalization, outsourcing, plant consolidations, delivery, and cross-border supply relationships. But are you effectively managing the resulting negative effects, the new risks, that accompany increased productivity and efficiency?
5 min read
In March 2004 al-Qaeda released the seventh issue in a series of articles for “members” and other jihadis around the world entitled “The Targets Inside the Cities.” From its pages jump a basic explanation as to why cities are good targets, a prioritized list of targets (religious, economic and human) and a detailed compendium of […]
4 min read
The segmentation of products and markets has been quietly evolving in the insurance business over the past 30 years. Catalysts for change toward an increasingly segmented industry structure include competition, expense control and the specialization of business. As a direct result niche product markets were born, evolving into three unique categories - ancillary, affinity and surplus line products.
6 min read
Greater environmental awareness, tighter regulatory standards and pressure from banks and lending institutions on real estate transactions mean that risk managers and homeowners must pay close attention to oil spills, contamination and proper remediation. The alternatives can be financially disastrous.
Deep within the depths of the criminal mind lurks the premise behind how and why a crime is committed. It is within the recesses of the risk manger's mind that the job of staying one-step ahead of such criminals is invoked.
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