Risk Management Making good risk decisions with the information at hand This past February some 200,000 people were warned to grab what they could and head for higher ground or risk being swept away by the collapse of the Oroville Dam, California’s second largest dam and the tallest in the United States. This catastrophe could have unleashed a 30-foot wall of water that would have swallowed up the towns and
ARTful MEASURES Agents and brokers can share this technique with their clients In today’s capital-rich financial environment, risk managers, corporate CFOs, and others in the C-suite are starting to scrutinize some of their earlier alternative risk transfer (ART) decisions. A number of these decisions surround merger and acquisition activities. These analyses have been occurring with increased frequency over the past dozen or so years. Many industry experts think these kinds
CICA SPECIAL SECTION Dennis Harwick reflects on the captive market prior to his retirement The 2017 Captive Insurance Companies Association (CICA) international conference will be held March 12-14 in San Diego. The annual event has become one of the most important and informative captive meetings of the year. This year’s conference will be no less impressive, although it may be somewhat bittersweet for CICA’s president, Dennis Harwick. He will be
ARTful Measures There’s a growing role for agents in identifying and managing reputation risk Corporate risk management has changed significantly over the past 10-plus years as companies have grown and matured. The most important change involves emerging risks. These risks are triggered by unexpected events, such as the volcanic eruption in Iceland, or familiar risks in unfamiliar conditions, such as the churning of mortgages that triggered the 2008 financial crisis.
ARTful Measures Is a single-state approach, like that of Indiana’s IPS, the future of RRGs? The introduction in 1981 of risk retention group (RRG) legislation—specifically the Product Liability Risk Retention Act of 1981—led to active federal involvement in the commercial insurance marketplace. Prior to this regulation, oversight of the insurance industry had been left to individual states. The Act was driven by a nationwide shortage of product liability and completed