Chris Boggs News

Solvency II Staggers Towards Finish Line: a Retrospective Analysis

It’s been a long process, but, according to Paul Fisher, deputy head of the Bank of England’s Prudential Regulation Authority (PRA), who supervises insurance and regulatory risk, the introduction of the EU’s Solvency II regulations is nearing completion. In his …

Second Injury Funds: Are They Still Necessary or Just a Drain On the System?

Second (or subsequent) injury funds (SIFs) have been abolished in 20 states. Alabama and Maine began this movement in 1992, with South Carolina being the most recent convert; each ending its respective program in 2013. Further, the American Insurance Association …

Benefits Provided Under Workers’ Compensation Laws

Injuries or illnesses established as compensable under applicable workers’ compensation law require prescribed benefits be paid to the injured employee. Benefit limits and duration vary by jurisdiction but each state provides essentially the same three “classes” of benefits: Medical benefits; …

Understanding Commercial Property Underwriting and ‘COPE’

Construction, Occupancy, Protection and Exposure (COPE) are the same four basic elements of underwriting data that real property underwriters have used for nearly 300 years. So what are these time-honored elements? The following paragraphs briefly explain each element of COPE. …

How to Read Any Insurance Policy: 12 Rules

Rarely do any insurance practitioners, even hard core ones, undertake to read an entire policy. Generally, they are seeking a specific answer or researching a problem, undertakings that require them to review only individual parts of the coverage form and/or …

Coverage Analysis: Sandy and Contingent Business Income Losses

Insureds joined in a mutually beneficial (or even exclusively beneficial) relationship with another business entity rely on the continued operational viability of that “non-related” entity. Their dependence on the goods, services, or mere presence of these external businesses leaves the …