Tag Archives: insurance

An employer’s guide to offering identity theft protection coverage to employees

Close up of a person entering login credentials on a cell phone

Identity theft protection (ID theft protection) is one of the fastest-growing benefits offered to employees today. But like many offerings that are relatively new to the market, employees may not fully understand how it works or what features such as … Continue reading →

Two key steps to help your organization mitigate the impact of a chemical attack

Woman in a white protective suit with a white cap, blue gloves and goggles dropping a liquid from a syringe into a test tube

We’re living in an era of unprecedented terrorist plots and attacks, where hazardous materials, including chemical agents, are now being used outside of warzones to harm civilians. The recent attacks in Dourma, Syria, and in Salisbury, U.K., serve as a … Continue reading →

What could the Prudential Regulation Authority’s proposal on managing climate change risk mean for insurers?

Men in headsets looking at a weather map with a computer monitor behind them

The launch of a consultation paper on the approaches to managing financial risks arising from climate change will transform the way that organizations do business. But how should insurers react – and what are the risks? The Prudential Regulation Authority … Continue reading →

Do D&O insurance policies cover claims for ‘damages’ brought by insolvency practitioners?

A judge talking to two lawyers in the hall of a marble building

With D&O policies becoming longer and more complex, an increase in claims activity and signs that the market may be hardening, the need to focus on the important stuff has never been greater. I have often blogged before about the … Continue reading →

Highlights from the 2018 ACORD Insurance Innovation Challenge (Semifinals)

Group of men and women who took part in the 2018 ACORD Insurance Innovation Challenge

This year’s ACORD InsurTech Innovation Challenge revealed that InsurTech companies are identifying efficiencies in the insurance industry through a variety of different methods. Both the sharing economy and artificial intelligence (AI) are predicted to become more important over the coming … Continue reading →

How risk appetite frameworks can be more than ‘tick-box’ exercises

Woman in a suite writing on a white board while a man in a suit and tie is reading the board

When we talk to board members of insurance companies, we often hear that risk appetite frameworks are too far removed from the day-to-day reality of conducting business and their only purpose is to satisfy regulatory or rating-agency requirements. But if … Continue reading →

IFRS17: More snakes than ladders for property & casualty insurers?

Close up of a hand, moving a pawn around the holes of a wooden Snakes and Ladders game board

On first sight, the requirements of the new IFRS17 global accounting standard that will come into effect on January 1, 2021, appeared none too daunting for property and casualty (P&C) insurers. In general, such insurers appeared pretty relaxed, even nonchalant, … Continue reading →

Three tips for senior managers seeking to avoid reputational damage

man in a suit leaning over a railing

A theme to which I often return is the extent to which there is scope for divergence of interest between individuals and their employers, especially in the context of regulatory investigations. For more, see my blog, Supreme Court victory for … Continue reading →

Don’t let your actuaries sit on the bench on IFRS17

Accountant adding figures on a calculator

IFRS17 may be an accounting standard, but getting ready for it requires serious actuarial input. The January 1, 2021 live date for the new international insurance accounting standard, IFRS17, is somewhat deceptive. The reality is that, due to the need … Continue reading →

Avoid these 4 pitfalls to favorably resolve challenging environmental claims

Environmental worker in a hazmat suit putting a soil sample into a bottle

From obtaining a carrier’s consent before incurring costs, to a straightforward late claims notice, making an environmental insurance claim can be fraught with hazards. All can be avoided with early, accurate information. The most important test of environmental insurance comes … Continue reading →