Why are Americans so divided? There is a villain here that never gets discussed. It’s called Section 230 of the Communications Decency Act. This was the provision that shielded internet providers, and later social media networks, from liability for the content of users. Why is this so important? It means Continue Reading
Should US Casualty Switch To Claims Made?
No. How’s that for a short post? But I suppose I should explain my answer. For those that didn’t see, Chubb and Zurich are trying to push the US casualty market to change from occurrence to claims made. I don’t think they will succeed and I don’t think they should. Continue Reading
Predicting the Everest Reserve Charge
One of the big stories to watch for year end earnings will be how many companies will confess that their casualty reserves are still woefully short. There doesn’t seem to be a whole lot of angst about this, even after the large Swiss Re charge last quarter. Just because management Continue Reading
The Evolving Terror Liability Risk
While it may be too soon to talk about the insurance impact of tragic events, that is what we do in the insurance industry. So, hopefully you will understand my attempt to be clinical here and make some observations about the recent terrorist attacks. The recent spate of car based Continue Reading
The Dangers Lurking In Excess Casualty
Most of you reading this are likely aware of the pressure on casualty loss trends due to rising social inflation and aggressive litigation tactics. However, unless you work in casualty excess or reinsurance, you may not be aware of how destructive rising casualty inflation can be. There is a significant Continue Reading