Making the right choice

Article Abstract:

Selecting arbitrators to settle reinsurance disputes remains an imperfect science. Parties selected as arbitrators should be impartial, unbiased and former executive officers of insurance or reinsurance companies or underwriters at Lloyds. Once each side has selected an arbitrator, the next step is the selection of an umpire. Although the methodology for selecting an umpire is present in the contract's arbitration clause, the ability to ferret out biased arbitrators is not. Industry executives are recommending that arbitrators should be supervised by an administrative agency.

Methods, Appointments, resignations and dismissals, Conflict management, Arbitration (Administrative law), Administrative arbitration, Arbitrators

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Good times ahead

Article Abstract:

Professional liability, or malpractice, insurers face considerable challenges because of the recession, increased marketplace competition and changing regulations. Liability insurers must work with and not against regulators to ensure the continuation of liability markets. Additionally, professional liability insurers must become more specialized and predict industry trends to remain competitive. Insurers can make themselves more marketable, for instance, by specializing in error and omission coverage, which is not offered by many competitors.

Contracts, Liability insurance, Insurance policies

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Buyouts don't always spell financial relief

Article Abstract:

Limited Assignment Distribution (LAD) arrangements could be costly to insurers seeking surplus relief. Usage of an LAD program only gives the appearance of surplus relief, but add the costs of buyout fees, which can range from 20% to over 40%, and the lost income derived from sources such as investment and installment charges and insurers could experience surplus depletion.

Other Direct Insurance (except Life, Health, and Medical) Carriers, Excess Insurance, Surplus lines (Insurance)

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