Insurance News Net has posted an interview with Steve McElhiney, President of EWI and the New CPCU Society National President. Read Steve’s insightful comments with Insurance News, printed and re-posted here:
http___insurancenewsnet.com_print
-Authored by Steve McElhiney, President of EWI
EWI ended 2010 by posting a blog of its outlook for the reinsurance market in 2011. EWI was accurate in most of its predictions for the 2011 year. As for our 2012 forecast? In our view, the insurance risk markets and the capital markets (and macro economics) are highly inter-connected; thus, our forecasts are provided across a variety of fronts. We believe you simply can’t arrive at credible views of the reinsurance markets without first looking at these other factors. Please click “Outlook 2012″ for our 2012 forecast. Best wishes for the New Year!
Outlook 2012
Steve McElhiney took office as the National President & Chairman of the CPCU Society for 2011-2012. Learn more about Steve in a “Meet the President” article in CPCU News. CONGRATULATIONS STEVE!
Steve McElhiney, President of EWI, Takes Office
On August 29, 2011, Steve McElhiney, President of EWI and President-Elect of the CPCU Society, along with Toni Green, Vice President of Claims at EWI, visited the Texas Southern University Campus in Houston, Texas to offer advice and insight on insurance career opportunities to a Risk Management/Finance class on Health, Disability, and Long-Term Care Insurance. Students in the class are preparing to take the 556 CPCU exam as part of the class’s curriculum. This offers students a unique opportunity to get a jump on earning a CPCU designation.
Steve McElhiney presented in a webinar on Friday, April 8th, concerning the Japan Earthquake. Advisen picks up Steve’s comments in today’s Advisen post titled Many U.S. Businesses Lack Coverage for Earthquake Liabilities. See that Advisen post linked here Many US Businesses lack coverage for EQ liab
Second part of a three part series on enterprise risk management authored by Steve McElhiney, president of EWI Risk Services and vice president of CPCU Society. This second article focuses on risks within an ERM framework.
By Tomas Escamilla and Jorge Cardona, EWI Risk Services
Oil and gas companies are expanding their utilization of single parent captive insurance companies as a more cost effective tool to syndicate risks and achieve potentially broader coverages for potential liabilities.
The trends include:
• As a result of the Macondo well spill in the Gulf, companies engaged in offshore exploration and production are examining the captive concept as part of broader enterprise risk assessments to expand capacity and achieve tailored coverage via manuscripted policy forms with reinsurance support; to expand protection from such events.
• Domestic natural gas producers are embracing the captive concept due to potential higher environmental liabilities resulting from the use of hydraulic fracturing techniques and its effect on deep underground water reservoirs.
• Other companies including the majors are using their captives in more creative ways in order to offer environmental impairment property coverage as well as pollution liability, property, business interruption and workers compensation coverages. In the area of employee benefits they are using captives to offer enhanced group life, and long-term disability coverage to employees, and to capture superior experience from their employees compared to standard group rates in the fully insured benefit market.
In hard or soft insurance pricing markets, captives offer great leverage to influence positive behaviors due to the embedded unique relationship between insurer and insured as a long-term value accretion and risk management tool.
