“Risk managers can never buy enough insurance” to cover human error WRIN.tv speaks with Catherine Duffy, an SVP with XL Insurance (Bermuda), during the IRMI Energy Risk and Insurance Conference about emerging risks in the oil and gas industry. According to Ms. Duffy, the greatest threats to oil and gas companies “stem from the decrease in oil prices…which is creating talent scarcity and talent retention issues.“ The energy industry is letting … Read More
Juries make unsympathetic audiences for insurers during litigation, according to Covington & Burling partner WRIN.tv speaks with David Goodwin, a partner at the law firm of Covington & Burling, about trends in insurance litigation, during the 2015 IRMI Energy Risk and Insurance Conference. Mr. Goodwin says insurance companies are afraid of litigation because juries do not like insurance companies “…when an insurance company is in front of a jury, they know that they are … Read More
Mixed Outlook for U.S. Property/Casualty Industry – A.M. Best There is a mixed outlook for the U.S. Property and Casualty industry according to A.M. Best. While the industry as a whole is on its second straight year to a strong performance competitive pressure and emerging risks could impact insurers bottom lines. Here, Group Vice President Anthony Diodato discusses the reasons for concern for the U.S. Property and Casualty Industry … Read More
National Insurance Crime Bureau on workers comp and medical fraud, cybercrime, vehicle and cargo theft World Risk and Insurance News speaks with Roger Morris from the National Insurance Crime Bureau about developments in workers camp fraud, cybercrime, auto theft and medical fraud. Among the hot topics he discusses: “Malingering” driving up workers comp fraud in the U.S. Insurance Industry wants NICB to get more involved in cybercrime Vehicle theft is down, though non-traditional theft is … Read More
A.M. Best explains “Negative” outlook for Commercial Lines In a recent edition of A.M. Best’s First Monday series, Andrew Colannino, Vice President of the Property/Casualty Ratings Division, discusses the rationale for the Commercial Lines segment received a negative rating. According to Mr. Colannino, “…there is a slight deficiency in terms of the loss reserves”…(and) with the low interest rate environment, inflationary loss costs, and increased competition, companies have … Read More
J.D. Power/RIMS study focuses on what makes risk managers satisfied J.D. Power and RIMS surveyed over 1,000 risk professionals from large commercial insurance customers to assess key performance indicators (KPIs) and best practices that have the biggest impact on customer satisfaction. Here, Tim Bebout, Commercial Insurance Practice Leader at J.D. Power, talks about the survey and its results. Mr. Bebout says this study is done “from the point of view … Read More
Issues D&O underwriters need to know when evaluating a life science company – EVP at RT ProExec In this edition of the D&O & Life Sciences series, sponsored by RT Specialty Group, host Michael Garofalo, SVP in the National Life Science Practice at RT Specialty, welcomes Kevin LaCroix, an Executive Vice President at RT ProExec, a division of RT Specialty. The topic is D&O issues for life science companies. “Life Science companies are vulnerable to securities litigation,” … Read More
Carnegie Mellon CyLab study on cyber governance among major corporations. A Carnegie Mellon CyLab study, sponsored by RSA, a leading security, risk and compliance management solutions firm, Read More
