Global Casualty Insurance Programmes Benchmarking Report 2011

This is the second Airmic casualty survey and builds on the initial survey in 2010 which produced significant results and valuable insights into the casualty insurance market in 2010. The purpose of the survey is to create a benchmark that allows the risk management community, and casualty insurers, to track programme construction, administration and purchasing practices across businesses based in the UK.

The analysis of survey results enables risk managers to compare their own insurance practices and programmes against similar organisations. While in most cases there are no right or wrong answers about structures or casualty risk management practices, benchmarking nonetheless provides an objective basis for evaluating individual approaches and for stimulating ideas about alternative approaches.

The 2011 survey was conducted online by Airmic among its members in June 2011 and provides a more comprehensive discussion about existing and emerging risks. There can be little doubt that this year has been marked by a series of significant events; economic, political and natural disasters, which have highlighted how rapidly the world can change, and how swiftly businesses have to react to those changes. And yet, in many cases the research reveals that attitudes and responses have not altered significantly from last year – illustrating that reacting to complex and difficult changes can take much longer than expected.

It is very illustrative of the fact that navigating the global casualty insurance market has become more complex over time as risk managers struggle to meet their strategic objectives in a rapidly evolving global environment. As businesses expand their reach to foreign shores, the risks they face increase both in frequency and in magnitude. The constantly changing legal and regulatory environment that is reshaping the liability landscape adds another layer of complexity.