The current hardening insurance market is driving greater interest in self-insurance via a captive and leading to a cooling of relations between companies and their insurers. AMRAE president Oliver Wild told Intelligent Insurer why insurers need to have a rethink—and talk to risk managers.
In a time of unprecedented challenges for companies in the US, risk professionals need to plan ahead and get a seat at the table with the C-suite, according to RIMS president Laura Langone.
While insurers have welcomed the hardening market, it poses a challenge for insurance managers—who are increasingly looking at alternative risk transfer solutions, according to Scott Feltham, group insurance manager for Compass Group. He explains why the hardening market could be bad for insurers in the long run.
FERMA board member Laurent Nihoul has seen supply chain risk management tested by COVID-19 and as captives become a more attractive option in response to the hardening market, he told Intelligent Insurer why the regulations governing them should be proportional to their size.
COVID-19 is making organisations take a closer look at their risk management programmes. Speaking at Airmic Fest last week, Bradley Saunders, industry risk leader, Marsh Advisory, outlined the process for improvement.
The COVID-19 pandemic has created a specific set of challenges for risk and insurance managers. Dirk Wegener, president of FERMA, told Intelligent Insurer how the association is responding to their needs.
Timing of renewals is also a concern, says Skinner ahead of Airmic Fest.
The virtual Airmic Fest aims to offer the best qualities of a live event, but in an online format.
Lloyd’s always has a strong presence at Airmic’s annual conference and this year’s online Airmic Fest is no exception. Keith Stern, UK & Ireland regional manager at Lloyd’s, told Intelligent Insurer what lies in store.
Strong relationships with insurers are now more important than ever.