“There’s no claims adjustment process and the client gets the chance to pre-fund increased costs; they get to evaluate issues that aren’t traditionally covered under an insurance product.” Swiss Re’s Jamie Miller
1911 Lloyd’s Act moved the company from marine insurer to specialized risk market
Korn/Ferry Executive Quiz finds 62 percent of executives say responsibility for innovation lies with the CEO
When is it time to take away the driver’s license of an elderly parent?
B.C. drivers rate themselves B+ for being courteous on the road; rate other drivers C+
Six seismologists and one Italian government official face charges after the public says they failed to warn of earthquake risk
Visit ILSTV at the RIMS 2011 conference at Booth #1254.
On March 1, the European Court of Justice (ECJ) ruled that taking the gender of an insured individual into account as a risk factor in insurance contracts constitutes discrimination. The ECJ says insurers must provide unisex premiums and benefits as of December 21, 2012. The Association of British Insurers (ABI) says the Court’s ruling is [...]
Starting November 29, a new system will help keep uninsured drivers off Ontario’s roads by providing on-the-spot confirmation of insurance when drivers go to renew their license plate. In Ontario, it is mandatory for all vehicles to have valid insurance coverage. Currently, drivers are required to provide proof of insurance when renewing their vehicle’s license [...]
View the video here on your mobile device. Narrator: Ryan Pratt, a Senior Manager with Ernst & Young, talks about the importance of business continuity plans and common mistakes businesses make when putting them together. Ryan Pratt: When you consider a business continuity plan and what really should be in those, the first thing you [...]
On October 1, Aon Corporation announced that it has completed its merger of Hewitt Associates, Inc. with a subsidiary of Aon, creating Aon Hewitt, a human capital solutions firm. “The completion of this merger marks yet another important milestone in the history of Aon and is an industry-changing event that will create new standards in [...]
View the video here on your mobile device. Jason Trahan, a senior manager with Ernst & Young, discusses business interruption in today’s global corporate structure. Jason Trahan: I think what’s changing business interruption is really the complexities of businesses themselves. As they get more and more global their supply chain is stretched out across the globe and [...]
Banking titan Citigroup Inc. is paying US$75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007. The Securities and Exchange Commission announced the settlement with Citigroup on Thursday. It says the company repeatedly made misleading statements in calls with analysts and [...]
On Wednesday, July 28, an Airbus A321 jet crashed near the Pakistan capital of Islamabad. The jet, carrying 152 passengers and crew, was en route from Karachi, Pakistan to Islamabad. All on board were killed. Business Insurance magazine is reporting that Bermuda-based Catlin confirmed that it is the lead underwriter, but the source could not [...]
The Risk and Insurance Management Society, Inc. (RIMS) has issued a statement, commenting on Aon’s decision to accept various forms of compensation, which may include supplemental and/or contingent commissions in areas of the world where it is legally permissible. In it, RIMS maintains its opposition to the practice of collecting contingent commissions and says it [...]
New research identifying Haiti and Mozambique as the countries most vulnerable to economic losses from natural disasters also classifies a number of industrialized economies, including Italy, Japan, China, USA, Spain and France, as "high risk" environments for investors, insurers and business. The Natural Disasters Economic Losses Index (NDELI), released by risk intelligence and ratings company [...]
