Insurers need help with catastrophe losses

Article Abstract:

Huge insured property-casualty insurance losses generated by natural disasters have sapped the financial viability of many insurance companies. The insurance industry cannot cope with the financial crisis brought about by multi-billion losses created by earthquakes, hurricanes and storms without the intervention of the public sector. A national disaster insurance pool that caps the private sector insurance industry's liability is one answer to the crisis. Im addition, businesses and the public can reduce the industry's liability by adopting prudent policies that reduce risks.

Methods, Column, Risk management

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Underinsurance remains widespread problem

Article Abstract:

Property insurers need to ensure that properties are insured at full value. The Oakland, CA, fire revealed a serious underinsurance problem, and one national survey estimates that 67% of US homes are underinsured by an average of 35%. Rebuilding costs can be up to 40% higher than new construction costs, so market value of a home can be a misleading guide for estimating proper insurance levels.

Economic aspects, Underinsurance

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Watching over the Magic Kingdom

Article Abstract:

Disney Corp has contracted with Risk Management to keep the firm's exposure to liabilities low by overseeing Disney's Performance Excellence quality management program in the firm's hotels, resorts and theme parks. The risk exposure is divided into different areas, with Disneyland and Walt Disney World and other operations having their own all-risk management departments.

Amusement and Theme Parks, Amusement parks, Contracts, Personal injuries, Disney Corp., Risk Management Inc.

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