Risk, Re-/Insurance and Future Thinking
From the category archives:
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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Details are a little sketchy at present, and I have not read the report itself yet, but it seems that EU Competition Commissioner, Neelie Kroes, has it in for the EU insurance industry on two main grounds:
First, the report refers to long-standing and widespread industry practices in the reinsurance and coinsurance markets involving the alignment [...]
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Interesting article from the Long Now foundation (disclosure: I’m a charter member) about the the increase in range of things that can be bet on as risk measurement becomes more precise. They refer back to the Allianz-led cat bond on floods hitting London as a prime (and new) example of such risks and then [...]
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There’s an interesting account in a recent Economist (and also on their website (subscription)) about a recent cyber-warfare attack on Estonia’s infrastructure. This came amidst their recent spat with Russia over the re-siting of a statue commemorating the Glorious Motherland’s achievements in Estonia during the Great Patriotic War (aka WW2), which I read somewhere [...]
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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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Trawling some files the other day, I realized that I had not posted a copy of my talk on “Bad Software” since it was expunged, with all other records, from iNews. So here it is in original Keynote format, and in pdf format.
Aproveches.
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Accountancy Age reports today that KPMG is set to face a tribunal over its auditing of Independent Insurance after the Joint Disciplinary Scheme formally laid complaints today.
>The firm audited the group between 1986 and its collapse, and signed off Independent’s last company accounts in 2000. IIG collapsed in June 2000 with ‘unquantifiable losses’ arising from [...]
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Here’s a cheery article from the Telegraph about the effects on London of a 1m rise in water level. Apart from the rather obvious conclusion that it would be “very bad news” for London to have such a rise, the report quotes “a leading climate expert” as saying that:
>In some areas insurance cover might [...]
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As ever, Swiss Re’s sigma team produce interesting reading. They do an annual review of how the year has gone in different sectors, and this year’s on the international property field [no direct link, but click on the first of the 'News Releases'] is worth a read.
It’s been a very mild year for insurers [...]
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In something of a landmark decision the Court of Appeal have today decided in the case of Meadows -v- GMC that an expert can be subject to disciplinary action.
Sir Anthony Clarke, Master of the Rolls, said:
> It seems to me that the solution to particular problems in particular professions must be reached by discussion and, [...]
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