Risk, Re-/Insurance and Future Thinking
From the category archives:
Last week I was a speaker at the Financial Institutions Insurance conference in Munich, sharing the platform with Dr. Philipp Wassenburg, Global Head of Casualty Treaty Global Clients/North America, and Alexander Stampf,
Head of Financial Institutions, both of Munich Re.
Philipp and Alexander are both great guys and have that wonderful and particularly European sense of [...]
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This is what happens when you start meddling in the insurance markets for short-term political gain — the markets dry up and blow away. In the Gulf and southern states likely to be affected the situation is thus:
Primary capacity is down by an estimated 30-40%
Traditional RI capacity is down by about 10%
There have been [...]
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New York state insurance commissioner Eric Dinallo wants to found a New York Insurance Exchange.
Both state and city have suffered from the ravages of the downturn and losses to Wall Street, so the remaining dollars are looking for a new home. So a new RI exchange might seem like a good idea.
Well, [...]
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Citi analyst Joshua Shanker said reinsurers might get rate increases of as much as 10 percent for 1/1 renewals.
Shankar cited the following factors:
* investment losses,
* large storms,
* accumulated casualty loss trends and
* financial difficulties faced by several of the industry’s largest commercial insurers and reinsurers
as explaining the position, to which I would also add [...]
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As from 1/1 Amlin will be out of the credit insurance market (Source: FT).
While they only have less than 5% market share, it’s a further indication of difficulties in the sector, and perceived difficult times ahead for the wider economy.
CEO, Charles Phillips, said that while getting reinsurance for credit insurance was becoming more [...]
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In the recent (24.10.08) case of Markel –v- Gothaer Allgemeine & Kontinentale the Commercial Court considered the nature and role of an agent in a dispute over a Claims Co-operation Clause. It’s an oddly fact-specific case, but there are some wider issues in play.
This was a summary judgment application by reinsurers (Markel) to dismiss [...]
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In a rather vulgarly titled (“Obama presidency is good new for the legal profession“) article, law marketeer Larry Bodine points to some areas that might cause renewed legal problems in the States under the new regime.
In particular:
Tort reform has been so effective that there are hardly any trials any more. The National Center for [...]
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There’s a wryly amusing article from Garry Booth over at the Lloyd’s Risk blog on the difficulties facing the market as seen from Baden-Baden.
The three elephants in the room to which he refers are: capital market meltdown, falling share prices, and global economic recession.
Primary insurers who want to maintain their current business model (ie stay [...]
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