Topics No. 23 – Summary
Issue: September 2014 |
L/H General Industry,
P/C General Industry,
By Ross Campbell, Life/Health Chief Underwriter, Research & Development, London
Alexander Eistert, Property/Casualty Senior Underwriting Specialist, Cologne
Frank Wang, Head of Property & Casualty, China, Shanghai
In this issue of Topics No. 23 you can read about:
E-Cigarettes – Here Comes Some Science
by Ross Campbell
Electronic nicotine delivery systems (ENDS) first became popular 10 years ago. They represent an alternative that reduces the health hazards associated with the toxic chemicals found in tobacco smoke. ENDS may turn out to be much less harmful than smoking tobacco, but to date there is insufficient scientific evidence to support the notion that they are effective smoking cessation devices. This article discusses the informative value of the studies that have been carried out so far, as well as how different countries regulate and control e-cigarettes.
From Floating Pigs to Peking Duck – Recent Developments in Chinese Food Safety and Their Implications for Liability Insurers
by Frank Wang
China’s food safety record has become a source of international concern since the turn of the century. The range of issues is vast, and the Chinese government has recognised the necessity to improve food safety standards. This article summarises some of the key developments in food safety law and in the food safety supervision system, and explains their importance to liability insurers.
Risk Strategies for Liability Insurance
by Achim Bosch
This article addresses some of the significant challenges faced by the European insurance industry. In addition to exploring premium pressures, changes in the regulatory landscape and catastrophic losses reaching several hundreds of millions of euros that are on the rise, it discusses success factors for liability insurers and how risk transfer can help coping with the volatility of the business.
Current Developments in Recall Insurance
by Alexander Eistert
Recalls have been constantly rising in recent years. This article looks at the role both producers and consumers play in this increase and gives a short overview of European alert systems. Insurance solutions currently available in Germany are also discussed.
Case Study: Solving InSure's Reinsurance Crisis by Combining Proportional and Non-Proportional Reinsurance
by Oscar Edelsvärd
Primary insurers often prefer a reinsurance structure that is either proportional or non-proportional. Using the example of the company InSure our author explains how using non-proportional facultative in combination with an existing proportional treaty structure can be beneficial – provided there is transparency between the primary insurer and all participating reinsurers.
Australian Group Disability Business – Will We Ever Learn?
by Eddy Fabrizio
Losses extending to hundreds of millions of Australian dollars have hit several companies with heavy exposure to the Australian risk market. This article gives a brief overview of the group disability market in Australia and discusses the factors driving many of the losses experienced to date.