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Technical Report: Claims - Rising to the challenge.
(From Reinsurance)
Byline: David Fanning.
The results for the first half of 2003 have added to the good performances during 2002 of many reinsurers, and most long-established reinsurers have bounced back from difficult conditions. Others, however, have left the market, unable or unwilling to face the challenges of daunting liabilities arising from past underwriting.
"Many reinsurers are facing the legacy of the past - the skeletons in the closet," says Paul Walther of Florida-based Reinsurance Directions.
While the change in current fortunes is welcome, there are growing concerns over 'reinsurance recoverables' - the reinsurers' ...
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