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
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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.
D&O Compass, an e-mail newsletter published by IRMI, covers developments
and trends in directors and officers liability and insurance. If
you are an agent, broker, wholesaler, risk manager, underwriter,
or attorney who works with directors and officers liability insurance,
you'll find this newsletter to be invaluable even though the subscription
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