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.

Insurance, Business interruption insurance, Business losses

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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.

Finance

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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.

Property & Liability Insurance, Methods, Analysis, Property and casualty insurance, Risk management, Subrogation

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