Risk, Re-/Insurance and Future Thinking
From the monthly archives:
While I hesitated for a second to put this into a blog ostensibly about reinsurance, insurance and the law, one of the things that has always appealed to me about the insurance world was its close connection with the intimate realities of the everyday world. We may all be dealing with high finance and [...]
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Interesting that Allianz have issued a flood bond, principally to bet against the chances of a huge flood washing away much of London’s financial and associated infrastructure along the Thames. This one is for $150m and would protect Allianz from the wave [sorry] of claims that it expects would hit it in the event of such [...]
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The Bar Council is proposing that less than competent barristers should be referred by colleagues and judges to a remedial panel to bring them [back] up to standard, according to the Times. I am not quite sure how it is envisaged that this would work and whether it is, in truth, any more than window-dressing to [...]
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Arbory Group Ltd v West Craven[1] Insurance Services. QBD (Leeds). 13 March 2007 A company that had been underinsured for business interruption as a result of an insurance broker’s negligent advice was entitled to recover a shortfall in payment and damages for loss of profits. The duty of the insurance broker, in the circumstances, was to [...]
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The Pacific Research Institute has just released a study of the US tort system and its huge costs, in a paper entitled Jackpot Justice: The true cost of America’s tort system. Some of their ’shocker’ findings are that: the total annual cost of the US tort system is USD 865.37 billion, which is the same as an 8% [...]
