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WELCOME to INsight 2010, an online information resource offering XL Insurance's perspectives on business and industry's most pressing risk management challenges.
"A moment's insight is sometimes worth a life's experience," Oliver Wendell Holmes once wrote. That is why I encourage you to take a moment to learn from XL Insurance's most valuable asset — the considerable experience of our underwriters, risk engineers and claims specialists. Through INsight, they will brief us on some very critical — often complex — risks that business and industry find themselves facing. More importantly though, they will provide their thoughts and guidance on how these risks can be effectively managed through insurance, loss prevention, claims management and other proven strategies.
Effective risk management and continuous learning go hand-in-hand. I hope you will learn from what we share through INsight. Additionally, we would like to learn about the risk management issues on your mind and welcome any comments or article suggestions to make INsight a more effective educational resource.
Dave Duclos,
Chief Executive, Insurance Operations
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| ARTICLES |
Managing Risk
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MORE THAN COVERAGE: ENVIRONMENTAL INSURANCE'S VALUE PROPOSITION
Environmental disasters remind businesses their operations have the potential to incur costly environmental liabilities. While few businesses will have to face the magnitude of a Deepwater Horizon incident, it's not out of the question to face millions of dollars in cleanup costs from unprotected environmental liabilities. XL's Mary Ann Susavidge discusses the value businesses are seeing in environmental insurance beyond the policy itself — the expertise of their carrier goes a long way in protecting profitability in a tough economy.
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ROLE MODELS: HOW FORMER MILITARY BASES ARE EFFECTIVELY ADDRESSING ENVIRONMENTAL LIABILITY TO TAKE ADVANTAGE OF REAL ESTATE OPPORTUNITIES
The closing of almost 200 military bases has provided communities with revitalized properties and in many cases created new jobs. Author Bob Hallenbeck discusses the obstacles of acquiring land with a polluted past and how environmental insurance turned redevelopment dreams into realities. He outlines the risk management strategies used in base redevelopments that can be applied to other real estate transactions to keep them on schedule and profitable.
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TAKING A WIDE ANGLE VIEW OF D&O EXPOSURES
Responsibility carries a heavy burden — especially for Directors & Officers tasked with guiding a company through the current weak economy. Author Bernard Horovitz talks about the professional liability trends he’s keeping a watchful eye on, noting that businesses can’t focus on only one area of professional liability exposure without running the risk of being blindsided by another.
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TIMELY NOTICE: PROCRASTINATION PROVES COSTLY IN CLAIMS
Time has a powerful influence on an insurer's ability to handle a claim, says James DiVirgilio. He cites 'late notice' and discusses the importance of timely notice to assure optimal claims handling results.
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OVERCOMING CHALLENGES TO REAP REWARDS
If it were easy, everyone would do it. Launching a global claims management system has its challenges. INsight interviews Paul Tuhy, head of Global Claims for XL Insurance, about those challenges and how they were overcome to launch a new global claims system.
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FEW DEGREES OF SEPARATION:
ARE YOU PROTECTED FROM AVIATION PRODUCTS LIABILITY?
As businesses doing business with other businesses, we are more involved with each other than we might think — especially when we find ourselves dealing with product liability issues. XL's Eric Donofrio explains how surprisingly wide the litigation net can spread when dealing with aviation incidents.
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KEEPING TECHNOLOGY RISKS IN CHECK
Businesses of all sizes and industries use technology, say Scott Schleicher and Steven Anderson and they need the right safeguards in place to keep costly cyber risks in check.
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STAYING AHEAD OF EMERGING CYBER RISKS
XL's Chief IT Security Officer Thomas Dunbar addresses keeping a wary on potential cyber risks and how he educates his XL colleagues to be technologically safe and savvy.
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READY FOR A RECALL
How safe is our food? Ed Mitchell and Steve Gruler review the legislative push behind improving food safety, advising food producers to step up their risk management efforts to prevent contamination and recalls.
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INsight is an XL Insurance publication. Copyright 2011. All rights reserved.
"XL Insurance" is the global brand used by XL Group plc’s (NYSE: XL) insurance companies. In the US, the XL Insurance companies are: Greenwich Insurance Company, Indian Harbor Insurance Company, XL Insurance America, Inc., XL Insurance Company of New York, Inc., XL Select Insurance Company, and XL Specialty Insurance Company. In Canada, coverages are underwritten by XL Insurance Company Limited-Canadian Branch. Not all of the insurers do business in all jurisdictions nor is coverage available in all jurisdictions.
If you have any feedback or suggestions on INsight, please contact Sarah German, Vice President, Marketing & Communications, Americas. Sarah.German@xlgroup.com. 505 Eagleview Blvd, PO Box 636, Exton, PA 19341 •
888-609-2518 • 800-327-1414 • www.xlinsurance.com
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