Meridian is a highly dynamic specialized insurance consulting group and broker with offices in Boston, MA, Newport, RI and Brookfield, CT.  We are a hard-driving group with an entrepreneurial spirit who will work tirelessly for clients.  We specialize in risk management and risk transfer issues for clients. We are members of several business and industry associations  and the Professional Insurance Agents group (PIA.)

Our Mission is simple.   We seek to help our clients make the best risk and risk transfer decisions possible.  We bring market-leading service to the most creative solutions in the risk management field to ensure that each Meridian client achieves their risk objectives.

“The Gracechurch London Market 2010 Study’s main headline was that Brokers were “very positive” about doing business at Lloyd’s over the next three years but digging down into the details some interesting trends are emerging.

An emerging market trend that caught my eye was the prediction that the percentage of risks placed electronically would almost double by 2012.  Brokers anticipate more business being placed screen to screen over the next two years, maybe as much as 5% of the total.  However brokers remain solid on the need to have close physical proximity with the people they deal with; face to face trading being one of the unique selling points of the London Market.

As we approach the formal launch of the Endorsements Pilot on 1 October 2010 that will see all endorsements for direct marine hull, cargo and liability sent electronically using electronic messaging to support the face to face trade it seems that this forecast may prove to be correct.

Lloyd’s is currently undertaking a piece of research using the iPad. This work proposes replacing the broker’s slip case with a device that enables documents used in the face to face negotiation to be stored and read electronically. Brokers have responded to this proposal with great enthusiasm.

The combination of a ‘sexy’ gadget to support the trade and ACORD messaging to evidence contract certainty could help maintain the uniqueness of the London Market and may well mean that 2011 is the year when electronic support for the face to face placing process comes of age.”

For registration info paste the link:   http://www.asmeconferences.org/ES2010/

Meridian is a highly dynamic specialized insurance consulting group and broker with offices in Boston, MA, Newport, RI and Brookfield, CT. We specialize in risk management and risk transfer for companies interested in sustainable practice. We also promote sustainable practices and are members of the Sustainable Business Network and Slow Money Alliance. Our Mission is simple.  We seek to help our clients make the best risk and risk transfer decisions possible.

We bring market-leading service to the most creative solutions in the risk management field to ensure that each Meridian client achieves their risk objectives.

“The Friends of Slow Money fundraising event is over, but the Slow Money movement is just beginning! Here’s how you can help:

Become a member of the Slow Money Alliance and sign the Slow Money principles.

Friends of Slow Money chose the Slow Money Alliance because its founders and board have a proven track record of running successful, socially responsible businesses. If anyone is going to pave the way for a radical shift in our economy – from the ground up — it’s them.”

Read more about Friends of Slow Money – a grassroots movement to seed a new economy – at their link

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Meridian is a highly dynamic specialized insurance consulting group and broker with offices in Boston, MA, Newport, RI and Brookfield, CT. We specialize in risk management and risk transfer for companies interested in sustainable practice. We also promote sustainable practices and are members of the Sustainable Business Network and Slow Money Alliance. Our Mission is simple.  We seek to help our clients make the best risk and risk transfer decisions possible.

We bring market-leading service to the most creative solutions in the risk management field to ensure that each Meridian client achieves their risk objectives.

Stay tuned for more updates.

An excerpt notes “If all goes well, investors will see a modest 3% profit, maybe 6% over many years. But Mr. Tasch  the founder, has a broader balance sheet in mind. The real dividend, he says, is diversity: In an era of industrial agriculture, where millions of acres are planted with the same variety of corn and millions of pigs are bred to be genetically similar, small local farms are the ultimate hedge fund. They preserve heirloom seeds and quirky breeds; strengthen the soil with organic nutrients; create local markets that connect producer directly to consumer.”

For the full article see this link http://online.wsj.com/article/SB125305092106313571.html

We think it is a start and while it is not clear exactly where the alliance will go it is one to watch and to roll up sleeves and get involved if so inclined.

The Wall Street Journal noted on August 24th, that more energy companies are uninsured or underinsured as prices for coverage rise and as  infrastructure improves .

http://www.foxbusiness.com/story/markets/industries/energy/energy-companies-slash-insurance-levels-wsj/The focus of the article was primarily on offshore companies and their windstorm coverage decisions this year.

Brokers seemed to think these decisions are due to stiff rate increases while the energy companies attributed the changes to improved technology and more regulation reducing the likelihood of damage.

Particular approaches ranged from total wind self insurance to dropping cover on less valuable structures.

While we certainly have seen significant increases in offshore wind pricing post  Ivan, the risk transfer decisions made by these companies at this point are not just a factor of insurance product availability and pricing.  The 08-09 crash of prices and growth in inventories and its impact on company bottomlines in many cases threatened even company survival.   Those in the offshore world with the most stable contracts and utilization levels have weathered things well thus far thanks to the rebound that is occurring. By nature offshore exploration is more of a commitment in time and less vulnerable to the impacts felt in the land rig world.

In this context that companies are choosing to take on risk is not surprising. Tragically some of them may find themselves in a catastrophic loss at some point  for which they are totally unprepared.

Others may opt to go into captives or make some other arrangements as an alternative to traditional insurance products.

In many ways it is a tough loss for those of us who like to work with this industry to provide appropriate solutions.  But this takes  little creativity and unfortunately it’s not consistently present in the staid insurance industry.

We believe we can help with that.

http://www.imo.org/includes/blastDataOnly.asp/data_id%3D25980/138.pdf

Tom Bryant is a partner in Meridian Consulting. His 35 year work career began in a farming community in Alberta and encompasses years in the onshore/offshore oilfield industry, penitentiary and parole supervision of violent offenders in the Correctional Service of Canada, and more recently risk management for corporate clientele primarily in the energy industry.

The content included here will include case studies, general information on risk management principles, insightful commentary on current political, judicial, legislative, and social events that could affect the risk environment in which our clients operate, along with links to relevant information regarding the current state of the risk management industry.