Advisen is now tracking 282 subprime lawsuits and other actions related to the overall credit crisis and yesteray's v7.0 of Advisen enables on-demand charting which I hope readers will find helpful. The above is a distribution by industry sector.
Wednesday, 14 May 2008
The Price of Apples
Amazing how many good D&O stories I missed on vacation last week from the Siemens claim to Aspen hiring away quality D&O underwriters from Lloyd's Managing Agent Novae, to D&O legend James Weatherstone taking the helm for Arch Europe.
Catching up with a Lloyd's broker yesterday who brings in US risk to London, D&O price volatility is up. In the Financial Institution market for D&O and E&O, the underwriting markets are shrinking their lines, and in one case flat-out non-renewing a policy. In general corporate D&O the impact is less profound but the tide will turn.
I'm also happy to report that the AIRMIC Benchmark Survey is well underway with the majority of respondents coming from Financial Institutions who want to get a good sense of where the D&O market is.
Catching up with a Lloyd's broker yesterday who brings in US risk to London, D&O price volatility is up. In the Financial Institution market for D&O and E&O, the underwriting markets are shrinking their lines, and in one case flat-out non-renewing a policy. In general corporate D&O the impact is less profound but the tide will turn.
I'm also happy to report that the AIRMIC Benchmark Survey is well underway with the majority of respondents coming from Financial Institutions who want to get a good sense of where the D&O market is.
Thursday, 1 May 2008
Don't forget us little people
I want to congratulate our friends at Exari on building a business from scratch and finding the right investment partner to get them to the next level.
Exari is document assembly software and while it was initially designed by lawyers for use by other lawyers who build the same legal documents repeatedly, the software is well-suited to the commercial lines insurance industry. Guy Carpenter have found a great way of using it and Marsh is working it into their systems now.
I share offices with Geoff Maskell and Martin Kett who opened up Exari Europe and launched it into banking and insurance companies and if you read the press release about the private equity firm's investment (here), you'll see how they are now big shot VPs and Board Members. I just hope that when they return from the RIMS Conference, that they remember us little people.
Congrats also to Exari founder Jamie Wodetzki, whose Breakfast Blog is among my favorite reads.
Exari is document assembly software and while it was initially designed by lawyers for use by other lawyers who build the same legal documents repeatedly, the software is well-suited to the commercial lines insurance industry. Guy Carpenter have found a great way of using it and Marsh is working it into their systems now.
I share offices with Geoff Maskell and Martin Kett who opened up Exari Europe and launched it into banking and insurance companies and if you read the press release about the private equity firm's investment (here), you'll see how they are now big shot VPs and Board Members. I just hope that when they return from the RIMS Conference, that they remember us little people.
Congrats also to Exari founder Jamie Wodetzki, whose Breakfast Blog is among my favorite reads.
Benchmarking comes to the UK
Yesterday Advisen and AIRMIC announced the launch of a Benchmark Survey similar to the one Advisen has produced for RIMS for 6 years.
Picking up on my theme of how empirical data is superior to anecdotal data (see post here) AIRMIC Benchmark Survey is the only one of its kind in the UK where data is collected directly from risk managers, thereby providing the most accurate tracking of buying trends for all major coverage lines across a wide array of commercial insurance buyers.
For more information on participating or getting results, please e-mail airmic@advisen.com.
The survey results will provide AIRMIC members and other subscribers with benchmarking charts using relevant peer group comparisons. The data will make risk managers and other industry professionals more informed in considering the structure and expected cost of their insurance programmes. The service will answer questions such as “How much coverage do my peers buy?” or “Am I paying too much for my insurance?”
Risk managers who are not currently AIRMIC members are welcome to participate and/or to use the results of the survey in making more informed decisions about their insurance programs.
AIRMIC chief executive John Hurrell said,
Picking up on my theme of how empirical data is superior to anecdotal data (see post here) AIRMIC Benchmark Survey is the only one of its kind in the UK where data is collected directly from risk managers, thereby providing the most accurate tracking of buying trends for all major coverage lines across a wide array of commercial insurance buyers.
For more information on participating or getting results, please e-mail airmic@advisen.com.
The survey results will provide AIRMIC members and other subscribers with benchmarking charts using relevant peer group comparisons. The data will make risk managers and other industry professionals more informed in considering the structure and expected cost of their insurance programmes. The service will answer questions such as “How much coverage do my peers buy?” or “Am I paying too much for my insurance?”
Risk managers who are not currently AIRMIC members are welcome to participate and/or to use the results of the survey in making more informed decisions about their insurance programs.
AIRMIC chief executive John Hurrell said,
“We have long admired the RIMS Benchmark Survey and are delighted to work
with Advisen on producing something similar.”
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