Risk

U.S. terror cover debate heats up

As the Canadian government waits to take its lead from the U.S. on a terrorism reinsurance solution, lobbying efforts south of the border are intensifying. Risk and Insurance Management Society (RIMS) president David Mair was on Capitol Hill this week, urging Congress, on behalf of commercial insurance buyers, to move forward on a plan.”Businesses have, […]

By Canadian Underwriter | March 1, 2002

2 min read

Risk Management Precarious Times

"The world was on September 9th a dangerous place, full of operational and financial risks. What changed was the address of terrorism. Terrorism was no longer simply on TV, it was and is now part of our real lives." So said David Mair, outgoing president of the Risk and Insurance Management Society following the September 11 terrorist attacks. Certainly the insurance world has been turned on it axis by those events. What was shaping up to be a hardening market was suddenly a market in chaos, and risk managers were left struggling to catch up with rapidly escalating rates, tightening terms and a severe lack of capacity. Added to this is the disappearance of terrorism coverage and the seeming ambivalence of North American governments to the plight of insurers and their commercial policyholders.

February 28, 2002

11 min read

The U.S. Marketplace Post September 11

Speakers at this year’s Joint Industry Forum — which recently took place in New York City — were bullish of the financial prospects of the North American property and casualty insurance industry in the post September 11 era. However, they, as well as the senior management audience in attendance, remained concerned with growing regulatory/political intervention […]

February 28, 2002

7 min read

Business Recovery Will Your Plan Work?

There should be fear coursing through the veins of chief information officers everywhere! A recent study released by the University of Houston showed that a mere 6% of businesses could survive following a catastrophic loss of data. "Sure", some business owners say, "we're okay because we have a plan". Chances are, their faith may be misguided.

February 28, 2002

4 min read