IRMI Update—Issue #105
An E-mail Newsletter for Risk and Insurance Professionals
ISSN: 1530-7948
January 25, 2005
In This Issue
Colleague,
Is a soft insurance market on the horizon?
My contacts tell me that this 1/1 renewal season was far less stressful than
the last four. At least for those accounts with superior risk management programs—particularly
risk control—premium reductions were achievable in many coverage lines. However,
underwriters are maintaining discipline in their work. They are requiring sufficient
data to truly evaluate risks and being selective on the accounts for which they
will be competitive. Thus, the pendulum may have begun to swing back in the
other direction, but we are far from a soft market. Only time will tell just
how far the pendulum will swing.
What was the 1/1 renewal season like for you? In which lines of insurance
did you see competition return, and what were the average decreases? What lines
of insurance are still tough? Do you agree that, even though some competition
is back, underwriters are making logical, well thought out decisions? Please submit your comments.
On another topic, I'm pleased to announce that Amit Yoran will be sharing
the podium with Mike Rossi at our upcoming Tech-eRisk 2005 seminars. Who better
to explain the latest trends in cyber threats than the man who coordinated the
U.S. cyber security efforts for the Department of Homeland Security last year?
I continue to worry that we are underestimating and undermanaging the risks
presented by our reliance on technology. These two gentlemen will open your
eyes on the risks and how to identify, contractually transfer, and insure them.
For more information see the seminars section.
Thank you for subscribing to IRMI Update.
Jack
Jack P. Gibson
President
IRMI
Where Is It?—Unfortunately, we don't have a
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There are now 623 risk management and insurance articles on IRMI.com. Below
you'll find summaries of some recent additions with links to the articles.
Mark your calendar for the 25th IRMI Construction Risk Conference to be held
November 7–10, 2005, at the MGM Grand in Las Vegas. If you have a topic you'd
like to see, are or know of a good speaker, or otherwise want to provide input
on this year's Conference, please send us your suggestions. Just follow the
instructions on our Conference
web page.
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