Risk, Re-/Insurance and Future Thinking
From the category archives:
I am staggered by this. According to the British Lung Federation:
* Less than a third of tradespeople are aware asbestos exposure can cause cancer
* Only 12% of tradespeople know asbestos exposure can kill them
* Nearly a third (30%) wrongly believe most asbestos has been removed from UK buildings
* Three quarters (74%) have had no [...]
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As news emerges that Merrill Lynch is posting a loss of almost $8bn for the latest quarter (which seems like rather a lot), my eye was caught by this lovely little throw-away snippet in the FT (subs. required):
>Robert Law, banks analyst at Lehman Brothers, said: “One of the biggest issues with the sector has been [...]
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UPDATE: Brighty got 7 years. Hope he serves at least 8 of them. [24/10/2007]
And so farewell, Mr Bright. You were too Independent for your own good–and for many others’ good too, it seems.
Brighty is behind bars today, awaiting sentencing, for his part in the downfall of Independent Insurance 6 years ago. He [...]
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The ever-excellent OutLaw reports on this case where some 16-year-old girl in Texas had her picture uploaded to flickr by her youth counsellor, a Mr Wong. Virgin used it in an ad, allegedly without permission from either Wong or the girl.
Wong apparently changed the Creative Commons licence–which defaults on flickr to ‘no use by [...]
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National Geographic have published a list of the ten most polluted sites in the world. China, India and the former Soviet Union seem to be over-represented.
Places you wouldn’t want to live. Or insure.
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In his ever-interesting blog Lars Toomre writes of big lay-offs in the Wall St structured finance departments.
>On the afternoon of Wednesday August 29th 2007, rumors of pending layoffs in the structured finance areas are being reported in the media. CNBC and The Wall Street Journal are reporting that major layoffs are going to be announced [...]
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I’ve just skim-read the judgment in Equitas v. Horace Holman [2007] EWHC 903. It runs to 108 paragraphs and is the culmination of proceedings that lasted 5 years. The finding?
>I conclude that Equitas’ money claim succeeds in the sums of US$ 34,614.01 and £3,018.57. I shall hear further submissions if Equitas wish 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
* [...]
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Ah, how nice to know that it’s all a storm in a teacup. And this from a Qualified Expert.
> Chrysler’s chief economist Van Jolissaint has launched a fierce attack on “quasi-hysterical Europeans” and their “Chicken Little” attitudes to global warming.
And according to Mr Jolissaint, “global warming [is] a far-off risk whose magnitude [is] uncertain”.
Now [...]
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I was having a chat with a client of mine the other day. He looked a bit glum, and when I asked him about the state of the market it was a chance for him to let rip.
> You know, Jolyon, the thing about the insurance and reinsurance game is that it’s not really [...]
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