The Insurance Industry’s Imperative Neccesity

One of the very first things you learn when you enter the insurance industry and begin basic industry training is that the insurance business is, and has been since its inception, characterized as a business of “Utmost Good Faith”.  This premise for all dealings within the industry is it’s “Imperative Necessity”.  This means that the […]

Workers’ Comp Underwriting Philosophy as Partnership

An underwriting philosophy is the logical analysis of the principles and processes underlying the conduct, thought and knowledge used in selecting and assuming the risk of another party. Philosophy attempts to draw unity from diversity. It attempts to deduce conclusions (leading to unity) based on overall observations, both direct and indirect (diversity). The unity we […]

Captive Insurance Use By Life Insurance Companies

In June 2013, the New York Department of Financial Services through its Superintendent, Benjamin M. Lawsky published the results of an examination they had conducted over the previous year, by the name “Shining a Light on Shadow Insurance: A Little-Known Loophole That Puts Insurance Policyholders and Taxpayers at Greater Risk”. The Lawsky Report does bring […]

Cyber Risk & Insurance

INTRODUCTION This article examines the issue of cyber risk and exposures to loss, including recent legal and legislative developments. It reviews and discusses the options for cyber insurance coverage and the coverage limitations of such policies and endorsements. The article also explains the first and third party exposures to loss that cyber insurance covers as […]