Editor’s comment – Risk managers’ Xmas list for Santa
Top of the list will be a global compliance database. AIRMIC, dressed as Santa, will be doing its best to deliver, but probably not before 2014. Also on the list for Santa will be friendly regulators, but again, that will stay on the wish list until next year. On the contrary, regulators are likely to continue to be tough on global programmes. So there’s not much chance of anything getting easier on the compliance front – in fact, it is likely to get much more difficult and expensive (with lots of countries now looking at IPT).
Still, it’s not all bad news on the Santa front. Every year, risk managers put the same thing on their Xmas list, and every year Santa delivers – a continuing soft market. And sure enough, it looks as though Santa will yet again be able to deliver on that. This is because 2012 was relatively benign (certainly compared to 2011) in terms of natural catastrophes, even given the devastation caused by Hurricane Sandy.
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As for New Year’s Resolutions, the best we can offer is:
- Eat less
- Drink less
- Exercise more
- Ensure that you have a fully compliant, cost effective, fully integrated multinational insurance programme that adds value and provides all the required protections
- Ask for a pay rise
See, that was easy.
And finally, may you have a Happy Christmas with all the expectation and anticipation that the season brings. We at IPN hope that the New Year will be a profitable and rewarding one for you and your loved ones, and we wish you a very Merry Xmas.
NOTE: This Christmas message contains, and Insurance Programme News may from time to time make, written or oral “forward-looking statements” within the meaning of the US federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements rely on a number of assumptions concerning future events such as Christmas or New Year and are subject to a number of uncertainties and other factors, many of which are outside IPN’s control, that could cause the actual Christmas experience to differ materially from such statements. In particular, statements using words such as “may,” “expectation,” “anticipation,” “wish,” “hope,” or words of similar import generally involve forward-looking statements. Important events and uncertainties that could cause the actual Christmas or New Year to differ include, but are not necessarily limited to: the possibility of severe or unanticipated losses from natural or man-made catastrophes…
