It's time to reevaluate time element coverage
Article Abstract:
Insurers need to upgrade their business interruption risk coverage as companies become increasingly vulnerable to business interruption losses. The complexity of market and industrial processes in the 1990s requires that computer modeling tools be used by insurers to calculate business interruption values. Other industry standards, such as experienced-based rating mechanisms, and forms of coverage such as blanket limits also need to be amended to reflect the new realities of the contemporary workplace.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Underwriters expanding into alternative markets
Article Abstract:
Alternative risk coverage grew tremendously in the insurance industry from 1991 to 1996. Alternative risk financing methods such as captives, retention groups, pools and qualified self insurance grew from 35% to 44% of total capital insurance investments and totalled $104 billion in 1995. The profitability of these alternative insurance products is attributable to the elimination of transaction costs attached to annuity purchasing and the decline of risk costs in the early 1990s.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
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Uncover a gold mine by pursuing subrogation: at a time when insurers want to prove their value to commercial accounts, many bypass opportunity by not focusing on subrogation
Article Abstract:
Insurance companies do not always take advantage of their right to subrogate, or substitute, the parties involved in a legal claim and thus assert the rights of the insured to recover more money. Subrogation also provides greater financial protection for the insured, as it can reduce out-of-pocket expenses for business interruption or property losses. All losses should be examined closely in case subrogation is needed at a later date.
Publication Name: Best's Review Property-Casualty Insurance Edition
Subject: Insurance
ISSN: 0005-9714
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Mortal danger: between the burgeoning viatical settlements market and the tacit danger of beneficiaries tempted into harming insureds, insurers must find ways to safeguard the secondary markets for life insurance and annuities
- Abstracts: A growing headache: covering other insureds. Banks offer their own opportunities; banks want to make money in insurance, not supplant agents, some find
- Abstracts: Industry needs to improve electronic sales methods. Is the insurance industry selling "death" again?
- Abstracts: Surplus notes have a role in capital planning strategies. The never-ending spiral