Risk

Big Three automakers fighting to consolidate asbestos claims

Ford, DaimlerChrysler and General Motors are fighting to get thousands of personal injury asbestos lawsuits out of numerous state courts and consolidated in one federal court. So far they have not succeeded. The latest setback came early this month when the Supreme Court declined to review a 3rd U.S. Circuit Court of Appeals decision. The […]

By Canadian Underwriter | August 22, 2002

2 min read

U.S. government extends airline cover (August 19, 2002)

The U.S. government has yet again extended its offering of third party war-risk liability insurance to the country’s aviation industry. The program, put in place following the withdrawal of private insurers from the market after the September 11, 2001 terrorist attacks, will now last until October 16, another 60 days beyond the last deadline of […]

By Canadian Underwriter | August 19, 2002

1 min read

Q2 rate survey shows heightened distress in U.S. commercial market

Rates are up, capacity is down and alternative risk management mechanisms are increasingly being used, says the Council of Insurance Agents and Brokers (CIAB). In releasing its Commercial Market Index for the second quarter of 2002, which includes July 1 renewals, the CIAB notes that the market is increasingly distressed for commercial insurance buyers.”Our members […]

By Canadian Underwriter | August 1, 2002

2 min read

Risk Management: The Road Less Traveled

For risk managers facing January renewals on their insurance portfolios, 2002 was the year of sticker shock and worse. Along with dramatic price increases came new exclusions for mold, cyber risks and terrorism, reduced limits and a struggle to find capacity in the marketplace. But is the headache over? Risk managers expect that it is not, bracing themselves for an uncertain future and wondering when will the hard market end. And many are also looking seriously at options beyond insurance that may have held little appeal in the buyer's market, but are becoming increasingly attractive in the current seller's market. At the same time, there is recognition that captives, reciprocals, capital markets and more represent uncharted territory which many within the risk management profession find daunting.

July 31, 2002

12 min read