Posts Tagged ‘Risk’
Northeast Still Faces High Risk of Major Hurricane Hit This Season
Posted by: incur on: September 25, 2010
The Atlantic region can expect one more major hurricane this autumn and the northeast U.S. coast still faces double the average risk of getting hit, Weather Services International (WSI) said Tuesday. The Massachusetts-based private forecaster predicted the six-month Atlantic-Caribbean storm season that ends Nov. 30 would see a total of six “major” hurricanes with winds [...]
Property catastrophe remains top risk, but others gain ground
Posted by: incur on: February 23, 2010
The risks confronting insurers appear to become more complex every day. Traditional risk, notably catastrophes, remains a core concern for underwriters. But newer risks, such as inflation and even advancing technology, must be taken into insurers’ risk management calculations as well, observers say. Property catastrophe risk ?is and continues to be the largest risk,? said [...]
Court OKs insurers’ high-risk exemption
Posted by: incur on: February 18, 2010
The state?s highest court yesterday upheld the Massachusetts Division of Insurance?s decision to temporarily exempt auto insurance companies that are new to the Bay State from having to cover high-risk motorists. The Supreme Judicial Court?s ruling was the result of a lawsuit filed by Arbella Mutual Insurance, a Quincy carrier that claimed Nonnie S. Burnes [...]
SEC Votes for Corporate Disclosure of Climate Change Risk
Posted by: incur on: February 8, 2010
WASHINGTON?Political feuding over global warming reached the Securities and Exchange Commission Wednesday when commissioners, divided on party lines, voted to encourage companies to disclose the effects of climate change on their business. SEC Chairman Mary Schapiro, an Obama administration appointee, said the agency wasn’t weighing in on the global-warming debate and wanted to ensure that [...]
Modeling Firm Now Sees Less Risk From Quakes
Posted by: incur on: August 16, 2009
Risk Management Solutions said its newest catastrophe models for earthquake risks in the United States will likely cut insured loss estimates 10 to 25 percent. RMS in Newark, Calif., said the changes would be most felt in California and the reduction applied to the average insurer across all lines of business, with more modest changes [...]
RIMS Says 2008 Cost Of Risk Dropped 9.4 Percent
Posted by: incur on: June 23, 2009
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The average total cost of risk, made up of insurance premiums retained losses and risk management administrative costs, fell 9.4 percent per $1,000 of revenue in 2008, according to a survey. The findings in the annual benchmark survey of Risk and Insurance Management Society came from a poll of over 1,300 U.S and Canadian risk [...]
Northeast U.S. cities at risk due to rising sea levels
Posted by: incur on: May 30, 2009
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WASHINGTON — Drip, drip, drip come the studies one after another, reinforcing the threat to the Northeast from rising sea levels along the U.S. and Canadian east coast. If Greenland’s ice melts at moderate to high rates, ocean circulation by 2100 could shift and cause sea levels off the Northeast coast of North America to [...]
Insurers Focus Now On Reallocation, Risk Management
Posted by: incur on: May 26, 2009
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Most property-casualty and life insurers find growing and keeping business their biggest challenge and are reacting to the recession by increasing cash allocation and strengthening risk management, a survey finds. The research was reported by the Louisville, Ky.-based Insurance Asset Outsourcing Exchange, which analyzes and aggregates confidential insurers’ data for exchange participants. Fifty-six percent of [...]
NAIC’s ‘Climate Risk’ Survey Uses Mandatory Disclosure to Promote Activist Groups’ Agenda, According to Paper Published by Washington Legal Foundation
Posted by: incur on: May 14, 2009
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INDIANAPOLIS – A set of rules adopted by the National Association of Insurance Commissioners (NAIC) that requires insurance companies to disclose information related to climate change serves mainly to promote the ideological objectives of global warming activists, according to a briefing paper published by the Washington Legal Foundation. The paper, “Mandated ‘Climate Risk’ Disclosure: Turning [...]
