Industry News

Business Insurance

Businesses, non-profits and charities all purchase or consider the purchase of insurance as part of good management practices. In larger organizations, risk managers are continually evaluating various risks to the organization and implement programs to reduce and manage those risks, and purchase insurance to backstop remaining exposures. Smaller organizations may depend to a greater extent [...]

Controlling Costs with Risk Management

Risk, in insurance terms, is the possibility of a loss or other adverse event that has the potential to interfere with an organization’s ability to fulfill its mandate, and for which an insurance claim may be submitted.

Insurance Fraud in Prime Time

By Gordon Alexander IBM Canada Ltd
Is it just me or did you also notice the abundance of fraud news stories last year in insurance? It makes me wonder if there’s a TV show in the making; you know “Torn from today’s news stories, names changed to protect the parties” akin to Law & Order or [...]

Know Thy Enemy: Recognizing Fraudsters

By James McAuley and Rebecca Street | May 25
“Insurance fraud” is a term broadly used for illicit activity related to either buying or selling insurance. It comes in many forms: fabricated claims (property, life, health, and accident), staged auto accidents, arson, inaccurate declarations, and inflation of genuine claims, and can even [...]

What Will New Leadership Mean for AIG?

Ushering in new leaders at AIG won’t change the company’s fundamental problems, but it could bring long-term stability to the company.
Changes in the executive offices could actually serve AIG well, if they bring about a sense of permanence, says Joyce Sharaf, an analyst at A.M. Best. Edward Liddy, AIG’s chairman and CEO, announced May 21 [...]