Risk, Re-/Insurance and Future Thinking
From the monthly archives:
We don’t know exactly what impact climate change will have. But we do know that it presents society and the economy with an increasing level of uncertainty as it seeks to manage its risk. We believe that it is time for the insurance industry to take a more leading role in understanding and managing the impact [...]
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Most people focus on industry and transport as the main polluters and thus causes of GHG emissions (GreenHouse Gases). However, the service sector - i.e. you and me, O amis lecteurs - can also do their bit. Service-sector companies contribute to climate change through their electricity use, heating, cooling and travel. They have [...]
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Brilliant site here, featuring the Old Testament…in Lego. Highlights of the Law section: When to stone your children When to stone your whole family How long to hang somebody and more. Very South Park.
According to this article in the New Scientist A new study, by geophysicist Yuri Fialko of the University of California, San Diego, [shows that] deep within the Earth’s crust, the west side of the San Andreas fault has moved relative to the east by as much as 8 metres since the region’s last [...]
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So it’s not just Florida that’s feeling the pain. According to this report, rates for hurricane/meteorological risks will increase by up to 400% in Mexico this year. Many had simply not appreciated the exposures to such losses: Emily, Stan and Wilma caused USD 2.27bn of insured losses compared to the previous record year [...]
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The 2005 string of cats has effectively wiped out Olympus Re, the White Mountain sidecar that was effectively the first of its kind. Sidecars are usually privately-backed reinsurers that underwrite specific elements of a risk, most commonly the cat bits. They allow carriers access to external capital, often from hedge funds and private equity firms, [...]
I am up in Scotland this week for Benfields’ biennial Bond, Credit and Political Risk Conference. A full house, some excellent speakers and a top-drawer location by the sea (inc. good weather, at least at present) make for a good event. I’ll be blogging soon on some of the topics, but standouts yesterday (for me, [...]
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According to one of my partners, Tony Blair said yesterday that the Govt (yes the same one that took the case to the House of Lords) was looking at “ways to overturn Barker” and hoped to make a further announcement within the next two weeks. Hmm. Wonder what “ways” those will be…
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This said-to-be-true story (it’s in CNN so it must be…;-) ) demonstrates at once the heaven and hell of the US legal system: hell in the idiocy of the lawyers involved; heaven in the judge’s brilliantly appropriate solution: UNITED STATES DISTRICT COURT MIDDLE DISTRICT OF FLORIDA ORLANDO DIVISION AVISTA MANAGEMENT, INC., d/b/a Avista Plex, Inc., Plaintiff, -vs- WAUSAU UNDERWRITERS [...]
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From Saturday’s FT comes this: What we have here is the Greater Fool Theory. This says that even though you are perfectly aware a thing is overvalued… you keep buying it anyway. Why? Because the thing is still going up. When the time comes, you will find a Greater Fool to take it off your hands. [...]
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