Risk, Re-/Insurance and Future Thinking
From the monthly archives:
Accuweather have a good, non-alarmist - but alarming - piece on the likelihood of a major hurricane hitting the NE seaboard of the US. …insurance claims resulting from damage due to Hurricane Katrina have been estimated at $23 billion, making it the costliest storm in U.S. history. The density and value of developed property in the [...]
{ 0 comments }
I note that Max Re are having the auditors in: Bermuda-based Max Re Capital Ltd. announced that the “Audit and Risk Management Committee of its Board of Directors has initiated, with the assistance of outside advisors, a review of three finite risk retrocessional contracts written in 2001 and 2003 to determine whether the Company properly accounted [...]
{ 1 comment }
The World Cup is approaching and your wives and girlfriends will soon be pestering you about the finer points of footy (yeah, right). Here is a handy guide to the offside rule for girls: You’re in a shoe shop, second in the queue for the till. Behind the shop assistant on the till is a [...]
{ 0 comments }
In addition to moving to Docklands, perhaps, AON are also said to be contemplating the complete outsourcing of their claims operations. Or so a little bird told me yesterday. Anyone have more info? Don’t all rush at once. And what does this mean for the market more generally? An end in sight to the old [...]
{ 0 comments }
From time to time, friends, I’m going to post stuff here about how to make work easier. Little of any of it is mine (hah! chance would be a fine thing) but it is stuff that I have come across that makes the daily chores of organizing and staying on top of things a [...]
{ 1 comment }
David Giacalone, one of my favourite bloggers, combining as he does wizard legal comment with effortless haiku mastery, has a most amusing take on the hourly charge -v- value billing debate. A babysitter proposes that instead of a flat hourly fee for looking after 5 kids, aged 3-13, she charge by how much different [...]
{ 0 comments }
This has nothing to do with reinsurance. Or law. Or anything that this blog is normally about. But it caught my eye and I’d like to share it with you. Clive’s pet tortoise has died. There. Amazing, huh? [Patten's obviously lost the plot now, you think]. No. This is a very [...]
{ 0 comments }
There’s an infinite world-weariness about Mr Justice Langley’s opening words in the recent judgment in HIH -v- JLT: This is another film finance insurance dispute. Oh, and just so you know, JLT got off, because HIH failed on their causation arguments. However, the judge did say that, had he had to consider questions of contributory negligence, [...]
{ 0 comments }
There has been much talk of late about how Lloyd’s and the London Market are finished, there’s too much regulation, we’re not agile enough here etc etc. You’ve seen the articles and heard the talking heads. So it is rather engaging to see the boot on the other foot for once. PXRE is in deep trouble [...]
{ 0 comments }
The Royal Gazette, amongst others, reports on yet another new reinsurer in Bermuda, Castlepoint, which will provide QS cover for NY insurer, Tower: Under a quota-share agreement with the new reinsurer, Tower will cede, or pass on, between 25 percent and 45 percent of its insurance premium and losses. Tower, which is benefiting from market opportunities created [...]
{ 0 comments }
