Medical Professional Liability Strong But Long-Term Caution Emerges:
A panel of insurers and industry experts review state of the U.S.
medical professional liability insurance, including underwriting
results, trends, tort issues and what key factors could indicate
change ahead: http://www.ambest.com/v.asp?v=mpli514FSOC Report Highlights Life Concerns; Global Risk Roundup: A
new report from the Financial Stability Oversight Council focuses on
life insurers' use of captives and on investment strategies. Also,
recent risks affecting the global insurance industry: http://www.ambest.com/v.asp?v=fsoc514Optis: Market Improves for Insurance Agency M&A: Tim
Cunningham, one of the founders of Chicago-based Optis Partners,
reports that conditions have strengthened for those looking to sell
insurance agencies, though sellers will have to compete against a
growing pool of older owners who delayed during the market turndown: http://www.ambest.com/v.asp?v=optis414
OLDWICK, N.J.--(BUSINESS WIRE)--
In this episode of A.M. BestTV, insurance observers, including Aon
Benfield and AIR Worldwide, report that insurers should pay more
attention to possible catastrophic events that, while remote, have
affected the world and are likely to return. Typically, these unforeseen
and high-impact events have been called black swans, but Rade Musulin,
chief operating officer of Aon Benfield Analytics Asia-Pacific, said
that these so-called black swan events are happening more frequently and
need to be better recognized and managed. “We’re increasingly seeing a
number of events that have been incorrectly referred to as black swans.
These things invariably come as surprises to many risk managers, who
often incorrectly assume that just because a risk hasn’t been modeled,
the risk doesn’t exist,” said Musulin.
Sometimes referred to as “grey swans,” or “pear-shaped phenomena,” these
events, such as solar flares, pandemics, nuclear incidents and geologic
emissions, can be anticipated, according to Musulin. He said companies
need to develop more sophisticated approaches to risk analysis, and that
the insight can be used to supplement models so that risk managers can
make better decisions.
Click on http://www.ambest.com/v.asp?v=greyswans514
to view the episode, which also contains commentary from Andy Kao,
senior manager of business development at AIR Worldwide.
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