5. Speciality coverages
5.a Liberty International Underwriters
This devision of Liberty Mutual which focuses on global speciality lines insures a large variety of specialized risks through the independent broker system. From a demographic perspective this business field is divided in four core geographic areas which are the LIU Asia Pacific, LIU Canada, LIU US and LIU Latin America.
LIU Asia with its headquarter in Sydney follows the concept of an integrated risk approach. All major activities like underwriting, the risk management process and claims are specially tailored to the client to ensure that the maximum safety, security and value can be delivered to every policy.
LIU Canada developed rapidly beginning with its foundation in Toronto at 1993 having only 20 employees to the current financial situation of writing premiums worth $300 millions per year and employing more than 190 employees. In general, Liberty
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The performance and underwriting capacity of the surety business is limited by the federal Miller Act. This underwriting limitation is determined by financial measures such as a percentage of the paid-in-capital less deductions and symbolizes the company’s long term financial stability and performance. In the case of Liberty Surety, this limit was stated as $663 million in 2009. The surety business is divided in 5 regional groups which in common have 40 offices and offer surety bonds mainly to medium sized businesses or large contractors. Surety products are offered by both, the agency corporation of liberty mutual and insurance subsidiaries of liberty mutual. In what concerns the subsidiaries of liberty mutual the surety business is reinsured to a 100 percent degree quota-share by liberty
LaPierre, T. A. (2012). Comparing the Canadian and US Systems of Health Care in an Era of Health Care Reform. Journal of Health Care Finance, 38(4), 1-18.
Our group chose Canada because we feel that there are many similarities between our culture in the United States and the culture in Canada. Comparing the economies of these two nations shows that they are nearly identical. If combined, Canada’s and the United States’ economies would be the world’s largest economy; therefore, it would be advantageous to incorporate in both nations.
In her essay “We should relinquish some liberty in exchange for security,” Mona Charen, a columnist and political analyst, speaks on the issue of security in the United States of America. She uses many significant techniques in her essay to persuade her readers of her argument. However, I feel that her essay fails to make a great argument because she relies heavily on assumptions, misses opportunities to appeal to pathos and ethos, and overall uses a degrading tone.
An analysis of the US and Canada’s systems reveals advantages and drawbacks within each structure. While it is apparent that both countries could benefit from the adoption of portions of the others system, Canada’s healthcare system offers several benefits over the US system.
In 1982 the company began offering homeowner's insurance and this venture also proved to be financially successful for the company. The vast majority of the homes insured by 20th Century are located in the Valley cites and at one time the homeowner's insurance made up about 10% of the company's business, however, to date it onl...
Allstate insurance is the second largest property and casualty insurance company by premiums in the United States. Allstate insurance handles about 12% of the U.S home and auto insurance market. (Allstate, 2014). Many of Allstate’s customers fall under what one could refer to as a traditional selection of insurance for automobiles. Recently, Allstate has noticed a major shortcoming in lifestyle insurance, which includes coverage for motorcycles, boats, and other recreational vehicles, in comparison to its competitors. The motorcycle insurance sector is a 10.4 billion dollar industry and growing (PRWEB, 2012). The U.S. Department of Transportation website reports some astounding figures, including that 5,370,035 motorcycles were registered three years before the article, 7,138,476 motorcycles registered at the time of the article, and grew to 9,477,243 registered motorcycles at the end of 2012 (NHTSA, 2013). It is obvious as to why Allstate would identify motorcycle insurance as a worthy lifestyle product to devote marketing research dollars into in order to develop new strategies for cornering a share of the market.
Romanow, R. (n.d.). Building on Values: The Future of Health Care in Canada. Collections Canada. Retrieved from http://www.collectionscanada.gc.ca/webarchives/20071122004429/http://www.hc-sc.gc.ca/english/pdf/romanow/pdfs/hcc_final_report
Business Insurance News, Analysis & Articles. Web. The Web. The Web.
Two positive factors of the Asian/Pacific market came with the economic growth of Asian countries. Rising income per household gave way to a large customer base for ING and the various other insurance companies invested in the market. The life insurance market in particular gave way to large tax advantages which made Eastern Asian countries an ideal market to enter.
Rousmaniere, Peter. “Facing a tough situation.” Risk & Insurance 17.7 (June 2006): 24-25. Expanded Academic ASAP. Web. 23 March 2011.
Disappointment in financial risk management takes various structures, the greater part of which are exemplified in the present emergency. For instance, risk appraisals are regularly taking into account chronicled information, for example, changes in house costs after some time. Yet, fast financial advancement, including securitized subprime contracts, has made such information untrustworthy. Also, a few risks are missed on the grounds that they are covered up in excessively complex reports that leaders cannot get it (Stoian & Stoian, 2016).
Lisa’s insurance broker did not make sure she had the proper coverage to reduce her liability if something were to happen to the art gallery. Lisa’s insurance broker, Homer, broke his fiduciary duty to Lisa by not ensuring she had the proper coverage she needed; given that Lisa was responsible for the safekeeping of the artwork that was on consignment. Homer should have taken into consideration that nearly all her inventory, which was on consignment, would not be insured if a fire occurred. Nonetheless, Homer reassured Lisa that she was “well covered” with her policy when she should have had a policy where she would be covered for losses to artwork on consignment as well as fires that didn’t originate on her building
The insurance industry needed a vehicle to transfer billions of dollars of catastrophe risk to an entity capable enough to manage it. The only entity able to cope with these large risk...
After the financial crisis of the late 1990s, the demands for risk management tools have increased. The investors have been effectively utilizing such products as KOSPI 200 futures and options, 3-Year KTB futures and USD futures to meet their hedging needs.
After hours of independently researching the field of Actuarial Science, I contacted Mr. Michael Miller. Mr. Miller is the Director of Insurance Pricing at Catlin Inc., a private insurance company in Atlanta, Georgia. With a Masters of Science in Mathematics and classification as a Fellow of Casualty Actuarial Society, Mr. Miller has thrived in the field of Actuarial Science for twenty years. He has even achieved the position of President of the Casualty Actuarial Society of the Southeast.