Risk, Re-/Insurance and Future Thinking
From the monthly archives:
Centennial Software have issued a report highlighting the dangers to business posed by USB memory sticks, iPods and other transferable, plug’n’play date storage devices. Apparently 60% of people using such devices have lost or mislaid a memory stick and, of those, 60% in turn contained business critical data. According to Matt Fisher, of Centennial: “This perception [...]
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Following Mother Nature’s rather ruthless toying with us last year, many carriers in the property field (and especially those with Gulf of Mexico exposures) have expressed a certain, er, lack of faith in their existing Cat models. Recalibrations are due out next month and it seems probable that this will have capital ramifications and [...]
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Phew! Monica was a raging Cat 5 monster yesterday, threatening to rip the lungs out of Darwin. Today she’s dwindled to a relatively meek and mild Cat 1. Pearl farmers, residents of Darwin and insurers are all no doubt breathing a sigh of relief.
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Sorry for the lack of activity recently, but I was away for a while on hols. Normal service will shortly be resumed. Fractured? I bust a rib in a ridiculous way (rolling down grassy slope with Daughter #1 at lightning speed). It only hurts when I laugh. And sleep.
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You will be pleased - or at least not surprised - to know that lawyers have a bit of a thing about words. So you may not be surprised to know that a Great Linguistic Debate raged in the office yesterday over a particular point of grammatical construction. I had written the phrase “the contract [...]
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A while back I noted that Max Re and Fairfax appeared to be having some difficulties. Fairfax are now facing a class action arising out alleged violations under the Securities Exchange Act of 1934, including failing to make proper disclosure in a flotation prospectus. One of the complaints in particular is about their supposed (5) failure to [...]
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An interesting piece in the FT today (subscription) that proffers no conclusions but alerted me to the scale of Chinese investment (and potential influence) in Latin America: Almost half of China’s direct foreign investment is going into Latin America, and Beijing has pledged it will reach $100bn (£57.7bn) in the next five years. Joint ventures have [...]
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David Rossmiller writes an encouraging piece over at Insurance Coverage Blog on the case of Buente -v- Allstate: Although a lot of stories made it seem like the case was the insurer’s Little Bighorn, the truth is the opinion looked pretty good for Allstate, to my reading, even though Allstate lost the motion to dismiss. The [...]
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We are getting better and better at understanding earthquakes and how and why - and most importantly - when they are likely to arise. The US Geological Survey “is releasing a new tool to help mitigate loss of life and property — a 3D computer model of the upper 20 miles of the Earth’s crust in [...]
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Lovely, slightly whimsical report from Inhabitat about an idea to rebuild New Orleans. Amidst all the talk of rebuilding the city people have only obliquely acknowledged the fact that New Orleans sits in a bowl and is almost inevitably going to get hit again. And again. And again. Sometimes it takes an outsider with a fresh [...]
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