RMs Closing In On Loss-Run Standard
A group working to establish a loss-run standard for riskmanagers claims its pilot application has been successful indemonstrating potential service enhancements, cost reductions andimproved process efficiencies. Participants conceded, however, thatthere is more work to be done before the standards can be put intowidespread practice.
The New York-based Risk and Insurance Management Society will beannouncing an update on the standards project, and will recognizeone insurer and one major brokerage that carried the successfulpilot data transmission, during the groups annual conference thisweek in New Orleans, according to Elizabeth Morrell, vice chair ofthe technology advisory council for the New York-based RIMS.
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