Condos, 'big digs,' and other hazards of the building trades: the hardened insurance market hammered the construction industry and the building trades, leaving firms scrambling to find coverage and products insurers were once eager to sell. Because of the hardship, some firms may even leave the business.
Most of us have read the newspaper articles about the toll medical malpractice claims and rising insurance costs are taking on the medical profession, and the strident attempts at tort reform being made by legislatures at the national and state levels to counteract the problem. While architects...

The changing face of reinsurance relationships: the bonds among cedents, reinsurers and reinsurance brokers are changing as brokers become more like advisors and less like old-fashioned deal-makers.
It's not enough to just be a reinsurance broker anymore. The head of one of the largest reinsurance brokerage operations said that, as long as a decade ago, if a large firm had 150 brokers, then it might have about another 20 experts assisting with analytics and...

Renewal strategies in a changed insurance world: Four risk managers from diverse industries talk about the state of the insurance market and their strategies during the current renewal process. (Cover Story).
In interviews with four risk managers from diverse industries, the picture that emerged is one of flexibility, creativity, and patience. And, of a lot of negotiating. While insurers are reevaluating the costs of covering risks, companies are also reassessing how they define their risks. At...

Technology Companies Are Exposed to Security Breach Litigation.
Some Cyber Policies, By Themselves, Can Leave Gaps in Protection WARREN, N.J., Jan. 8 /PRNewswire/ -- Security breaches are becoming more frequent as businesses increasingly rely on technology to store and transfer assets and sensitive information, such as customer names and credit card numbers. With each security...

BUYING A HOME: Economics vs. Emotions.
"Falling in love with a particular house is wonderful, but not a good enough reason for buying it." The American dream of home ownership is alive and well. Owning a home, in fact, is the single item most often mentioned as necessary for the "good life," according...

Industry risk report diversified financial.
Diversification may protect shareholders by smoothing out earnings streams. But that doesn't make it any easier for risk executives who have to worry about what can affect a far-flung corporate empire, from credit risks to fluctuations in the demand for aircraft engines. Company Name Location CRO American...

On the trail of e-mail: carriers and brokers are tempted by registered e-mail services as a way of going paperless and managing the risks of standard e-mail.
Summary * Registered e-mail services give court litigants a leg to stand on. * Some electronic registered mail services are simple and easy to use. * In some cases, they have cut down on paper and mail costs by as much as 60...

The environmental audit.
The Environmental Audit The Wall Street rhetoric of the late 1980s concerned enhancing shareholder value. Little was said, however, about the mounting environmental liabilities being incurred by industry and how this might impact shareholder value. Moreover, the deal frenzy of the past five years overshadowed the ground swell taking...

Beware of order takers.
It's not clear if brokers have simply become nervous as a result of the war Eliot Spitzer is waging against the insurance industry, or if they have collectively attended one too many errors & omissions seminars. What is dear, however, is that some brokers are becoming increasingly dependent on...

ELECTRONIC B2B.
Small Business and the Web For a certain segment of the insurance industry, using the Internet for business-to-business transactions should become very profitable during the next few years. A recent report by Boston-based consulting and advisory firm Celent Communications describes how insurers and agents that...