Risk
Market feedback from commercial brokers and risk managers indicates that insurance pricing has peaked in most non-personal lines, including the volatile directors’ and officers’ (D&O) coverage. In fact, brokers and risk managers lament that the current conditions of the insurance marketplace are deja vu of past dramatic cycle swings between a “hard” to a “soft” […]
August 31, 2004
4 min read
The organization representing North American commercial insurance buyers has not come out against broker contingent commissions, but is issuing strong words on the need for full disclosure of such arrangements. In its policy statement on compensation agreements, the Risk and Insurance Management Society (RIMS) says, “because of the complex nature of insurance transactions, a special […]
2 min read
The friends of Mike Yang are staging two events to raise funds for this industry veteran, who is recovering from a serious illness experienced last fall. Funds are needed to help Mike and his family modify their home and vehicle to accommodate his condition and recovery. The first reception is Thursday, September 23 from 5-7 […]
3 min read
The insurance market set risk managers on a roller coaster ride since the beginning of the millennium. A long and deep soft market was cut dramatically short by the events of 9/11, sending insurance prices skyward and leaving commercial buyers reeling. Not even three years later, successive quarterly surveys show clear signs of market softening, causing risk managers to wonder if the cyclical ride of the insurance market will ever end.
10 min read
As risk managers emerge from what has been one of the most severe hard markets in memory, much remains to be done in the way of mending relationships between commercial insurance buyers, brokers and insurers. These three groups will converge in Winnipeg, Manitoba for the annual RIMS Canada Conference in October, and organizers Mike Maida and John Rislahti hope "Portage 2004" will provide a forum for relationships to be restored and risk managers to be renewed in their quest for enterprise risk management.
6 min read
Insuring Canada's rapidly growing film and entertainment industry is a niche business fraught with perils of ego-driven cast members, property risks and copyright lawsuits. As a result, insurance coverage remains tight and expensive, with only a handful of insurers and brokers willing to take center-stage.
9 min read
Whew! Now that was a hard market. Thank God that it is over - now we can switch gears to neutral and coast for the next six or eight years. Right?...Hardly.
5 min read
"Every right implies a responsibility - every opportunity, an obligation... Every possession - a duty." - John Rockefeller. Is your employer-sponsored retirement plan safe? Are those you have entrusted with the responsibility to look after your retirement funds doing their duty?
7 min read
A company has no greater asset than the value it creates on behalf of its clients and stakeholders--but are companies enhancing that value by effectively addressing their business risks?
The property and casualty insurance industry is not renowned for its selling techniques - perhaps resigned to the fact that buyers see their product as a "necessary evil" and from a regulatory standpoint, particularly on certain classes of business such as auto, as being a "compulsorily purchase". However, insurers and brokers can achieve more business and boost customer satisfaction through applying proven, proactive selling techniques.
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