Risk
The sale of Gerling’s reinsurance operations is being halted by German regulators the parent company has confirmed to Reuters. The story comes as Standard & Poor’s says it is lowering the long-term counterparty credit and insurer financial strength ratings of parent Gerling-Konzern Allgemeine Versicherungs-AG (GKA) and Gerling-Konzern Lebensversicherungs-AG (GKL) to BB+ from BBB.”The downgrade reflects […]
By Canadian Underwriter | February 26, 2003
2 min read
The U.S. Terrorism Risk Insurance Act of 2002 (TRIA) is failing to address the long-term issue of terrorism risk, says a new study by Conning Research & Consulting Inc. The study speculates that not only does the act not address why terrorism is so difficult to underwrite, but insurers may also be distracted from finding […]
By Canadian Underwriter | February 24, 2003
The cost of risk, including insurance, is about US$2.45 for every US$1,000 of revenue, says a new study from Marsh Inc. The study of U.S. companies also found that this cost varies dramatically depending on the size of the business, with smaller companies paying as much as 11-times more than larger corporations.Among the risks accounted […]
By Canadian Underwriter | February 21, 2003
Yesterday’s federal budget brought some good news for insurers, says Paul Kovacs, chief economist for the Insurance Bureau of Canada. Three items are of particular interest: elimination of the federal capital tax; a boost to health care spending; and new funding for infrastructure.In his “legacy” budget, outgoing Prime Minister Jean Chretien increased spending in several […]
By Canadian Underwriter | February 19, 2003
Financial institutions are showing an increased understanding of the need for enterprise-wide risk management (EWRM), says a survey of financial institutions from The Risk Management Association (RMA) and First Manhattan Consulting Group.Among 30 U.S.-based financial institutions, the study found that those in the advanced stages of EWRM had much in common when it comes to […]
By Canadian Underwriter | February 18, 2003
1 min read
The insurance industry is being called on to stand up against “egregious” class action securities lawsuits to avoid erosion of the troubled directors and officers (D&O) market. Speaking to members of the U.S. Professional Liability Underwriting Society (PLUS), Chubb vice chairman John Degnan asked the industry to establish the “Institute for Securities Class Action Defense”, […]
By Canadian Underwriter | February 7, 2003
In a new survey by the U.S. Insurance Information Institute, Wall Street analysts predict that while the hard market will continue through 2003, its pace will slacken. Following up on its “Earlybird Forecast” late last year, the “Groundhog Forecast” suggests insurers are backing off of price increases too soon.Analysts predict net premiums written will rise […]
By Canadian Underwriter | February 4, 2003
Both economic and political turmoil worldwide make some countries a bad investment risk, says a new report from international broker Aon Corp. In introducing its Global Credit and Political Risk Map, Aon Trade Credit notes that Latin America and the Middle East have become poor risks, while Russia has improved its profile and become a […]
By Canadian Underwriter | February 3, 2003
In the wake of the collapse of energy-trading giant Enron, the role of financial rating agencies has been called into question. For those that monitor the property and casualty insurance sector, a rise in profile has brought a corresponding increase in questions about what the role of these agencies should be. With the current hard market, the flight to quality has placed added importance on company ratings. Are rating agencies up to the task or falling down on the job?
January 31, 2003
9 min read
As insurers struggle with diminishing returns and technology challenges, they can look to other industries for examples of the use of interactive technology to achieve efficiency. While "working together" on technology solutions may seem an unachievable panacea, industries as competitive as auto manufacturing have shown that collaborative success is possible.
5 min read
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
