 Insurance companies often use the words “tendering” a claim. They argue that policyholders must “tender a claim” by using exactly the right words in order to obtain coverage under the insurance policies. Specifically, they argue that until the claim is “tendered,” they do not have a duty to defend the policyholder. Until the 1990s, few business leaders thought of risk management as something broader than the procurement and administration of corporate insurance. In this article, we explore the origins of the new field known as Enterprise Risk Management (“ERM”) and the value of the traditional risk management community to ERM. David Gauntlett joins us for a conversation on the intersection of intellectual property, insurance and risk management. In Part I, David shares his background and learnings from working in this field since the early 1980s. Until the 1990s, few business leaders thought of risk management as something broader than the procurement and administration of corporate insurance. In this article, we explore how the corporate risk management function came about and the insights of some of the early voices that anticipated the rise of the new field that today is known as Enterprise Risk Management (“ERM”). Commercial insurance is sometimes fraught with tension arising from the competing interests of corporate policyholders and insurance companies. In part two of this two-part essay, Jim Leonard, our guest columnist and former insurance company executive, further describes the dynamics of the insurance business from his inside-out perspective.Risk: A Primer for Business Leaders – Part XII (Increasing Organizational Capacity to Manage Risk)8/12/2019  In an age of increasing uncertainty, the future belongs to those organizations who invest in the development of the skills and abilities of everyone to learn and collaborate in responding to risk, regardless of whether such risk is simple, complicated or complex. Commercial insurance is sometimes fraught with tension arising from the competing interests of corporate policyholders and insurance companies. In part one of this two-part essay, Jim Leonard, our guest columnist and former insurance company executive, describes how insurance companies operate and what drives their agenda. Insurers have aggressively argued the applicability of anti-assignment clauses in their policies as a basis to deny coverage to successor companies. For those companies involved in mergers and acquisitions, be aware of how the courts in various jurisdictions have addressed this issue to avoid losing coverage for claims. This two-part guest article continues our look at the nationwide effort by the plaintiffs’ bar to undermine and poke holes in workers compensation exclusivity laws. In Part II, Mark A. Prost and Tim P. Tryniecki look at how these issues are playing out in the battleground states of Missouri and Illinois. |
AuthorsLori Siwik and Mark Siwik are the founders of SandRun Risk. They apply the principles of vertical leadership and lean six sigma to the discipline of risk management. From time to time they share their blog with guest authors who write about important risk management principles. Categories
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