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Risk management

Month: Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
  • September 2010

    Evacuations as weakened Earl nears North Carolina 02 September 2010

    Hurricane Earl weakened slightly to a Category 3 storm on Thursday as it approached the North Carolina Coast, reports Reuters.

  • Typhoon Kompasu hits South Korea 02 September 2010

    Typhoon Kompasu hit South Korea on Thursday morning, killing three people, reports CNN,

  • Losses from Earl between $50m and $150m 01 September 2010

    As Hurricane Earl approaches the east coast of the US, AIR Worldwide has estimated that already insured losses from Hurricane Earl’s passage near the northern Leeward Islands earlier this week are between $50m and $150m.

  • August 2010

    FEATURE: Coping with shocks to the system 31 August 2010

    Globalisation has opened up a dazzling amount of opportunity for the business world. But it has also produced an unprecedented level of risk for the insurance industry to deal with.

  • Hurricane Earl could clip US east coast 31 August 2010

    Hurricane Earl is moving up the eastern US seaboard. If its course follows the western most forecasts, Earl could make contact with the US coast this weekend, according to catastrophe modelling firm AIR Worldwide.

  • Cyclones and a typhoon approach Asia 30 August 2010

    The sixth, seventh, and eighth named storms of the northwest Pacific season are approaching the Asian mainland bringing high winds and expected heavy rains, according to catastrophe risk modelling firm AIR Worldwide.

  • Earl to intensify and pass by US east coast 30 August 2010

    Tropical Storm Earl became a hurricane over the weekend and is likely to become a category three hurricane later today, before heading north towards the US East Coast, reports the RMS/Reactions catastrophe centre.

  • Danielle now a hurricane, Earl to become one 27 August 2010

    Hurricane Danielle has reached major hurricane status, becoming the most intense storm of the 2010 season, while Tropical Storm Earl is likely to intensify to a hurricane in the next few days, according catastrophe modelling firm Risk Management Solutions.

  • Brokers remain solid despite challenges: Moody’s 23 August 2010

    The insurance brokerage industry remains financially solid despite the weak US economy and soft commercial property/causality insurance market, according to the Moody's Investors Service Industry Scorecard report.

  • Court ruling re-opens broker bid-rigging debate 19 August 2010

    A federal appeals court has decided to partly restore part of a nationwide class-action lawsuit that accused a large group of insurers and brokers of bid-rigging.

  • Nat cats could cost Caribbean 9% of GDP 19 August 2010

    Climate change could increase the risk of hurricanes and storms in the Caribbean and threaten future development in the region, according to a new study released by the Caribbean Catastrophe Risk Insurance Facility

  • Storm system in gulf reorganises 16 August 2010

    The remnants of Tropical Depression Five have reorganised after losing strength last week and the system has a 60% change of becoming a tropical cyclone in the next 48 hours, according to catastrophe risk modelling firm AIR Worldwide.

  • Tropical storm Dianmu approaches Japan 12 August 2010

    Tropical storm Dianmu is approaching the north of Japan, according to the Japan Meteorological Agency, Bloomberg reports.

  • Tower Group posts Q2 results 11 August 2010

    Tower Group has reported net income of $28.3m in the second quarter of 2010 as compared with $30.6m in the second quarter of 2009.

  • Captive net income doubled in 2009: AM Best 09 August 2010

    Net income doubled in 2009 over 2008 for a composite of 195 US captive insurers followed by rating agency AM Best, driven by the recovery of the industry’s investments.

  • NOAA lowers hurricane forecast, but still high 05 August 2010

    The National Oceanic and Atmospheric Administration has cut its forecast for hurricane activity in the Atlantic Basin this hurricane season, but is still expected to be very active.

  • FEATURE: Risk officers' increasing burden 03 August 2010

    Risk officers are a busy lot, what with having to cope with complying with new solvency regulation, cross border risk management and complex internal models.

  • July 2010

    Aon reports $153m Q2 income 30 July 2010

    Global insurance broker Aon Corporation has reported results net income for the second quarter of 2010 of $153m, compared with $149m for the same quarter last year.

  • Gallagher completes Oz broker acquisition 30 July 2010

    US insurance broker Arthur J Gallagher has acquired the remaining 60% equity interest in Specialised Broking Associates (SBA), headquartered in Perth, Western Australia.

  • GAO study of RRG regulation welcomed 28 July 2010

    A study by the Government Accountability Office into state regulation of risk retention groups has been welcomed by the National Risk Retention Association.

  • Swiss Re to provide Alabama state cat cover 27 July 2010

    Global reinsurer Swiss Re has announced a first-of-its-kind agreement with the Alabama State Insurance Fund, to provide a three-year parametric insurance cover for the state's primary catastrophic hurricane exposure.

  • Aon to take contingent commissions again 21 July 2010

    Insurance broker Aon Corporation has announced it will start receiving contingent commissions again. Rims is not happy with the decision.

  • Aon’s contingents stand "opaque": Willis 21 July 2010

    Willis Group Holdings, the global insurance broker, has responded to the announcement by Aon Corporation that it would resume accepting contingent commissions “where appropriate and legally permissible”.

  • Brokerage M&A trend to continue: Moody’s 19 July 2010

    The Aon/Hewitt transaction announced last week is the latest in a long run of acquisitions in the insurance brokerage market. This trend looks set to continue, according to rating agency Moody’s.

  • RMS terrorism model updated, losses reduced 19 July 2010

    RMS has updated its US Terrorism Risk Model to include places of worship, and the cities of Dallas in Texas and Jersey City in New Jersey have been upgraded in their threat. Overall, the expected annual insured loss in the US for 2010 was cut by 12%.

  • Neal bill debated before House subcommittee 14 July 2010

    The US House Ways and Means Select Revenue Measures Subcommittee has held a hearing on the taxation of reinsurance between affiliated entities.

  • Is Lindsay Lohan too risky to insure? 13 July 2010

    Underwriters face a big challenge assessing the risk to a film project that uses celebrities that have got into trouble.

  • Ace to join S&P 500 08 July 2010

    Standard & Poor’s has announced it will add the property/casualty insurer to its S&P 500 stock index after close of trading on July 14, reports Reuters.

  • Survey reveals risk managers are dissatisfied 06 July 2010

    US corporate risk managers are reporting a serious and growing detachment between themselves and their insurance brokers and carriers, according to strategy management research firm Greenwich Associates.

Poll

How big would insured catastrophe losses this hurricane season have to be to move reinsurance pricing up?

$0-15bn
7%
$15bn-$30bn
12%
$30bn-$50bn
37%
$50bn-$75bn
32%
$75bn-$100bn
7%
>$100bn
5%