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Risk management

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

    9/11 captive makes $657m settlement 12 March 2010

    The WTC Captive Insurance Company has announced a settlement with attorneys for more than 10,000 plaintiffs claiming injuries related to the rescue, recovery and debris removal operations following the September 11 2001 terrorist attacks.

  • Insurance buyers worried about Solvency II 12 March 2010

    The Federation of European Risk Management Associations (Ferma) has voiced concerns about the effect Solvency II and capital requirements put forward by the Committee of European Insurance and Occupational Pensions Supervisors will have.

  • Editor’s remarks: Contingent commissions - A level playing field but an ugly game 09 March 2010

    Marsh and Aon should be more vocal about whether they will accept contingent commissions now that their ban has been lifted.

  • INTERVIEW: Pat Gallagher on contingents 03 March 2010

    After the ban on contingent commissions was lifted for the world’s three biggest three brokers, Reactions spoke to Pat Gallagher, chairman, president and CEO of the fourth-largest US broker Arthur J Gallagher & Co to see what his opinion is on the controversial payments.

  • February 2010

    The future for contingent commissions 22 February 2010

    With Aon, Marsh and Willis now able to accept contingent commissions again, the market is abuzz with questions about which of them will accept the controversial payments, how much business this could bring and what buyers’ reaction will be.

  • Bermuda moves towards regulatory equivalence 19 February 2010

    Bermuda’s regulator is making strides towards its goal of achieving regulatory equivalence. It also revealed that the island’s insurance market’s assets grew by 7% last year.

  • Bermuda moves towards regulatory equivalence 19 February 2010

    Bermuda’s regulator is making strides towards its goal of achieving regulatory equivalence. It also revealed that the island’s insurance market’s assets grew by 7% last year.

  • MMC, Aon could receive $200m in contingents 17 February 2010

    The Spitzer-era ban on contingent commissions for the world’s biggest insurance brokers, Aon, Marsh and Willis, has been lifted. An equity analyst believes Aon and Marsh could now receive as much as $200m a year in contingent commissions.

  • Rims dismayed by removal of contingents ban 17 February 2010

    The Risk and Insurance Management Society today announced its dismay at a decision by the New York insurance department and attorney general to allow the big three brokers to resume taking contingent commissions.

  • Aon in compensation agreement with 3 states 16 February 2010

    US insurance broker Aon Corporation has today announced that it has reached an amended and restated agreement on the issue of compensation business practices with three states.

  • Willis allowed to take contingents, but won’t 16 February 2010

    Insurance broker Willis Group Holdings today entered into agreement with the attorney general and the superintendent of insurance of the state of New York to amend and restate its 2005 Assurance of Discontinuance and Stipulation (the AOD).

  • MMC’s Q4 hit by lawsuit settlement 10 February 2010

    MMC today reported a decline of net income to $38m in the fourth quarter of 2009, compared with net income of $80m in 2008. Marsh’s revenue for the quarter fell 4% while Guy Carpenter’s revenue for the year was up 23%.

  • ANALYSIS: Scaling back of Tripra will increase terrorism exposure 09 February 2010

    The Terrorism Risk Insurance Program Reauthorisation Act provides important solvency protection for property/casualty insurers in the event of catastrophic acts of terrorism and a scaling back of the programme will increase property/casualty insurers’ exposure to terrorism, says rating agency Moody’s.

  • Rims opposes two Obama budget proposals 02 February 2010

    The Risk and Insurance Management Society today expressed concerns with two Obama administration US budget proposals that it feels will be detrimental to commercial insurance consumers.

  • Torus appoints Groth as group CRO 01 February 2010

    Global specialty insurer Torus has appointed Carl Groth as group chief risk officer with immediate effect.

  • January 2010

    RMS launches industry index for US quake 21 January 2010

    Risk Management Solutions has launched a new parametric index for estimating insured industry losses from US earthquakes.

  • US hurricane models found wanting 20 January 2010

    Recent analysis of near-term US hurricane models has found that models for the cumulative seasons from 2006 to 2009 have greatly overestimated losses.

  • The December/January issue of Reactions 13 January 2010

    Read a selection of stories from the December 2009/January 2010 issue of Reactions.

  • Vermont nears 900 captive licensing milestone 07 January 2010

    The US state of Vermont licensed 39 new captive insurance companies in 2009, nearing it closer to a 900-licence milestone, according to data released by the Vermont Department of Banking, Insurance, Securities and Health Care Administration.

Poll

Do you believe efforts to set up a New York Insurance Exchange by the state's insurance department will succeed?

Yes, and it is a good idea
32%
Yes, but it is a bad idea
3%
No, but it is a good idea
41%
No, and it is a bad idea
21%
Not sure
3%