Latest Risk Management Headlines

Risk Management Solutions Warns of Costly Repeat of 1998 Ice Storm

Jan 14 2008 // Risk Management Solutions (RMS) has released a 10-year retrospective report on the 1998 Ice Storm that devastated the Canadian provinces of Ontario and Quebec, as well as portions of the northeastern U.S., in January 1998....

Risk Management Solutions Comments on French Windstorm Securitization

Jan 14 2008 // Risk Management Solutions gave details of the recent analysis it conducted for a securitization of windstorm risk in France. The securities were issued through Green Valley Ltd., a special purpose vehicle (SPV), and...

Los Angeles Controller: City Should Take a New Look at Managing Risk

Jan 14 2008 // The city of Los Angeles spent millions of dollars settling lawsuits that could have been avoided if effective risk management programs had been in place, according to an audit. City Controller Laura Chick said the city...

People

Jan 13 2008 // ACE USA, the U.S.-based retail operating division of the ACE Group of Companies, appointed John Nilson senior vice president, western region for ACE Risk Management. Nilson will be based in Los Angeles and oversee ARM...

IRISK Solutions Targets Risk Management Services to Middle Market

Jan 3 2008 // IRISK Solutions is a new independent risk management consulting firm, targeting small to middle market companies with annual gross premiums from $50,000 to $1 million. IRISK uses an Enterprise Risk Management approach to...

Dyadem’s Houston Office to Focus on Energy Risk Management

Dec 28 2007 // Risk Management Solutions Provider Dyadem recently opened its U.S. headquarters in Houston, Texas. Dyadem’s Houston office will address the needs of its existing and rapidly growing U.S. customer base, particularly...

Willis Report Tackles Global Warming Impact on Risk Management

Dec 27 2007 // “Climate change is one of the foremost concerns of our time,” states a bulletin from Willis. “In a relatively short time, the focus has shifted from debate over the reality of global warming to a general...

People

Dec 23 2007 // Members of the National Association of Insurance Commissioners (NAIC) elected 2008 officers during their meeting in Houston. The newly elected officers, who will assume their duties following the completion of the NAIC...

Edgewood Partners Makes Two Appointments

Dec 20 2007 // San Mateo, Calif.-based Edgewood Partners Insurance Center has hired Jim Halbleib as a principal and executive vice president for the San Mateo office. Halbleib will produce and manage regional, national and global...

Midwest Insurance Education Groups Announce Merger

Dec 19 2007 // Two insurance education organizations, the Insurance Education Institute (IEI) of Indianapolis, Ind., and The Griffith Foundation for Insurance Education of Columbus, Ohio, recently signed an agreement to merge effective...

Lockton Expands St. Louis Risk Management Team

Dec 17 2007 // Mo.-based Lockton recently announced that it has expanded its St. Louis brokerage team with the addition of Linda Liston as vice president-Account Executive, and Debra Bunce and Diane Fischer as account executives, and...

RMS Estimates High Level of Hurricane Activity for 2008-2012

Dec 7 2007 // Risk Management Solutions has confirmed its modeled hurricane activity rates for 2008 to 2012, following “an elicitation with a group of the world’s leading hurricane researchers.” The forecast concludes...

Coastal Flood Peril Study: $3 Trillion Today – $35 Trillion by 2070

Dec 6 2007 // An exhaustive study of the threat posed by coastal flooding warns that “as many as 150 million people in the world’s major cities could be reliant on flood defenses by 2070 – more than three times the 40...

XL Insurance Completes Purchase of GAPS

Dec 4 2007 // XL Insurance said it has completed the purchase of Global Asset Protection Services (GAPS) from Swiss Re. The financial terms of the deal, which was first announced on Nov. 16, have not been released. XL is the global...

Watson Wyatt: Property/Casualty Insurance Market to Remain Soft in 2008

Dec 2 2007 // The market for property and casualty insurance will stay soft in 2008, as premiums are expected to either decline or remain flat, according to actuarial and risk management experts at global consulting firm, Watson Wyatt...

Nov 18 2007 // People Lockton Companies LLC appointed Frank Scardino as president of the company’s Dallas property and casualty operation. In his new position, Scardino is responsible for setting the vision and long-term strategies...

New Players Enter the E&O Market … But Some Agents May Not See Rates Decline

Nov 18 2007 // Despite a rosier outlook in the agents’ errors and omissions (E&O) insurance market compared with years past, many insurance agents still faced rate increases in their E&O coverage in 2007 and anticipate...

Looking for Profits at Marsh

Nov 18 2007 // MMC’s CEO Cherkasky searches for more insurance commissions The Marsh & McLennan Companies, or MMC, has seen its once dominant position atop the brokerage world assailed by changing conditions, Eliot Spitzer,...

Watson Wyatt: P/C Market to Remain Soft in 2008

Nov 16 2007 // The market for property and casualty insurance will stay soft in 2008, as premiums are expected to either decline or remain flat, according to actuarial and risk management experts at global consulting firm, Watson Wyatt...

Integro Names Three Practice Leaders

Nov 14 2007 // Integro Insurance Brokers appointed three national specialty practice leaders, effective immediately: Private Equity — Nick Conca is a managing principal and leader of Integro’s New York Management Risk team....