Airmic conference
Airmic 2011: New contract clause seeks to prevent claim avoidance
Inadvertent omissions in underwriting information will no longer allow insurers to walk away from claims. At least, that is the hope of corporate buyers preparing to insist on the inclusion of a new model clause in contracts unveiled on Tuesday at the…
Editor's coment: Restoring good faith
After more than a year in gestation, Airmic finally unveiled its new model clause on Tuesday at its annual conference in Bournemouth.
Airmic 2011: Risk blindness threat to company stability
Company boards' tendency to develop "risk blindness" in the pursuit of reward and opportunity can bring down otherwise successful entities overnight, according to new research by Cass Business School. The first findings of a two-stage study have…
Airmic 2011: Best practice guide to global compliance
Insurance buyers can now benefit from best practice advice to prevent them falling foul of the "labyrinth" of global insurance compliance rules. The guide, published this week, sets out key questions with which to road-test insurance programmes and help…
Interview - Paul Taylor: Relishing challenges
With a career that has spanned the globe, new Airmic chair Paul Taylor wants to push risk management up the agenda. He talks to Lynn Rouse about his upcoming tenure.
Airmic 2011: Firms underestimate true cost of major claims
A lack of understanding surrounding the range of uninsured costs and management time wasted means the true financial cost of major property claims are underestimated, says Heath Lambert.
Airmic 2011: Insurance market for cyber risks needs to come of age
In 2010 it is estimated that hostile cyber attacks on companies accounted for nearly one third of all UK data breaches – up from around 22% the year before – and these incidents are becoming increasingly expensive.
Airmic 2011: Study identifies underlying risks that can lead to corporate failure
Boards failing to see – or just choosing to ignore – underlying risks can result in events serious enough to bring down or severely damage otherwise successful companies, research has revealed.
Airmic 2011: Global insurance compliance is fastest-rising concern
The compliance of global insurance programmes is the fastest-rising concern amongst Airmic members, according to the result of the risk management association’s latest survey, ranking second only to reputational risk as their main worry.
Airmic 2011: Model-clause unveiled by Airmic
Airmic has published a model-clause aimed at reducing the possibility of firms having policies avoided by insurers as a result of inadvertent omissions in the underwriting information provided by purchasing organisations.
Airmic 2011: A guide to international compliance obligations
A guide to help members ensure their insurance programmes comply with international regulations and tax rules has been published by Airmic.
Airmic 2011: Property rates to remain static, says Willis
The cost of commercial property and business interruption cover remains at an historic low, the latest Airmic-Advisen benchmarking survey of 135 Airmic members has found.
Airmic 2011: It is not necessary to increase fleet insurance costs each year, says QBE
“Fleet insurance costs do not need to go up each year – there is another way”, says QBE’s Doug Jenkins.
Airmic 2011: Generation Y could hold the key to corporate response to emerging technologies
The use of technology as a central part of their lifestyle separates Generation Y (those under 30 years old) from Generation X (everyone else), but risk managers rarely consider the threat that this cultural chasm represents, the Airmic conference heard…
Airmic 2011: Managing global risks with the right knowledge
Delegates at Airmic were able to see a demonstration of ‘The Zurich Rick Room’ a tool designed by the insurer to help organisations plot their strategic direction in the face of a constantly changing risk landscape.
Large corporate risks - Global compliance: Could a central rules database help?
The global insurance compliance headache for large corporates operating in multiple jurisdictions is only intensifying. Veronica Cowan explores if and how a central rules database could help.
Lloyd's & London Market - Remuneration: War of the words
Lloyd's brokers are on the defensive after controversy surrounding commissions and fees re-emerged. But as underwriters demand clarity once and for all, are buyers happy as long as premiums stay low and their own charges stay transparent? Ralph Savage…
Mentoring - risk managers: Passing the torch
The process of mentoring, where experienced people give advice and encouragement to younger professionals, can be hugely beneficial and cost virtually nothing. Elaine Heyworth details a new scheme about to launch to assist up-and-coming risk managers.
Ferma raises concerns over capacity for 2014 World Cup
The Federation of European Risk Management Associations has welcomed as "a good first step" the response of the Brazilian government to complaints and concerns from corporate insurance buyers and national and international reinsurance markets about…
Large Corporate Risks - Claims: Network issues
In the wake of Cunningham Lindsey's international claims hub launch, Veronica Cowan looks at the pros and cons of claims centralisation and asks if some risks are more suited to it than others.
Comment - commercial insurance: Trouble brewing
In the wake of a damning report on the commercial lines insurance market, Roger Flaxman enters the debate and examines the clash between insurers' principle of utmost good faith and their fiduciary duty to shareholders.
News analysis: alarming revelations for commercial cover
The recent Mactavish-Pricewaterhouse Coopers report that declared commercial insurance 'not fit for purpose' is a wake-up call to the market. Insurers, brokers, company boards, government and the buying community should all take note, says John Hurrell.
Reinsurance sector braced for huge losses in Japan– Insurance News Now – 17 March 2011
Post reporter Amy Ellis outlines this week’s major general insurance stories which include the global reinsurance industry pulling together to absorb the impact of the 9.0 magnitude earthquake that struck Japan on 11 March.
Reinsurance sector braced for huge losses in Japan– Insurance News Now – 17 March 2011
Post reporter Amy Ellis outlines this week’s major general insurance stories which include the global reinsurance industry pulling together to absorb the impact of the 9.0 magnitude earthquake that struck Japan on 11 March.