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Caroline McDonald
Because there is no single process appropriate for every board and every company, it is the joint responsibility of the independent board leader and the chief executive officer to involve the board in the ongoing processes of strategic planning and risk management, according to the Canadian Institute of Chartered Accountants’...
Mark E. Ruquet
Technology companies now are starting to develop “social business” platforms specifically designed for the office and loaded with applications aimed at aiding the bottom line. One of the first insurance companies to embrace a social-business platform is Warren, N.J.-based Chubb.
Ioana Dima, Tim Doggett
Because damaging winds are rarer far inland, the hurricane risk to the interior of the U.S. can be easy to overlook. But storms can travel hundreds of miles after landfall, and there is plenty of historical evidence for storms causing billions of dollars of damages in interior states.
Chad Hemenway
While convincing collectors that they need to insure their art can be a challenge, those who crack the coverage code can find they’ve gained access to extremely desirable clients.
Mark E. Ruquet, Phil Gusman
The property and casualty insurance industry’s earnings are expected to be modest for the first half of this year after insurers were hit by a series of weather-related losses, according to a financial analyst’s report.
Robert Regis Hyle
A tornado roared through the northern part of Alabama on April 27, claiming 243 lives and causing more than $2 billion in insured damage.
Phil Gusman
A spike in the number of agent and broker jobs added in May drove an overall net gain of 900 jobs industry-wide for the month compared to April, according to an Insurance Information Institute (I.I.I.) analysis of U.S. Labor Department’s Bureau of Labor Statistics figures.
Susanne Sclafane
Commercial prices continued to fall in the first-quarter of 2011, according to a pricing index based on reports from risk managers, but overall pricing remains 15 percent higher than levels recorded at year-end 2000.
Michael Callan, Susan Leonard, Mark Lynch, Patricia Gergen
Procedures to unwind troubled insurance companies can be complicated by unforeseen tax issues, blindsiding stakeholders—regulators, creditors, owners of troubled companies, and even healthy ones included in consolidated returns—at a time when none of these parties is focusing on the Internal Revenue Service.
Chad Hemenway
Producers who know the ins and outs of securing coverage for an art collection, expensive wine cellar or million-dollar foreign sports car may find that this expertise gets their foot in the door with some highly desirable clients.
Chad Hemenway
Insurers continue to file lawsuits against large investment banks over losses taken during the housing market collapse, as Liberty Mutual Insurance Co. filed suit against Goldman Sachs; and Allstate announced a lawsuit against Morgan Stanley.
Diana B. Reitz, CPCU
One of the most common policy-endorsement requests is to add an additional insured to a commercial general liability (CGL) policy. Parties who add others as additional insureds are sharing their liability insurance with that other entity and may have to pay an additional premium in order to do so. These...
Phil Gusman
Moody’s says a recent outline put forth by the International Association of Insurance Supervisors (IAIS) regarding a regulatory framework to monitor international insurers’ group-wide activities is credit positive.
Christina Bramlet, Mark E. Ruquet
Global catastrophes in the first half of the year have already made 2011 the costliest year on record with respect to economic losses.
Chad Hemenway
Two reports on distracted driving show some successes with laws passed banning cell-phone use and texting while driving, but also demonstrate that more research needs to be done to truly gauge the laws’ effectiveness.
Arthur D. Postal
Whether the insurance industry will have certainty about the National Flood Insurance Program (NFIP) is now in the hands of the U.S. Senate.
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