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RISKbitz

RISKbitz is the universe's leading satirical news source for the insurance and reinsurance industry.

For more from the world's premier online risk displacement portal go to www.riskbitz.com

RISKbitz: Survey reveals risk managers' greatest fears    January 27 2012
The risks that keep the risk managers of corporate giants awake at night are revealed in a new survey from Swiss insurer Gnome Industrial Solutions.

RISKbitz: Reinsurance presidential race turns nasty    January 27 2012

The race to nominate the contender for president of the Congress of Reinsurance Actuarial Professionals is really starting to hot up after two candidates dramatically dropped out.

RISKbitz appointments latest    January 27 2012

Mega Broker appoints Norbert Pahmgrieser, Charles Badpenny joins Pariah Partners, and more!

RISKbitz's 2012 predictions    December 23 2011
Everyone knows what's happened in the past 12 months: what real enterprise risk professionals want to know is what is likely to happen in the coming 12 months. With that in mind, RISKbitz veteran industry commentators Bart Hogroy and Todd Gwynion [get on with it! Ed] have prepared an indispensable list of the events most likely to impact up your bottom line [for God's sake, Ed] So, without further ado, welcome to 2012! 


RISKbitz: Eurozone problems spell disaster for insurer CEOs    November 28 2011
The problems in the Eurozone and the potential collapse of the Euro itself could be “catastrophic” according to Sir Dudley “Dumbo” Duddleston, chief executive of Hoggwartz Global Insurance. 

RISKbitz: Rating agencies reject call for ban on ratings    November 28 2011
“I mean a downgrade on an already weakened company could be the last straw for them, especially around renewal time. Non?” said said Rip van Winkle, the EU minister in charge of regulating finance.

RISKbitz: Lloyd’s company invests in eyePads    November 28 2011
Lloyd’s company Luddite Underwriting Agencies has announced that it is to equip its underwriters with eyePads.

RISKbitz archives, 1913 – Downton Re Faces Ruin    November 28 2011
Lord Grantham, CEO and chairman of Downton Re, faces ruin after the sinking of the Titanic threatens the family firm, but the arrival of hedge fund CousinMatt secures the future of the aristocratic reinsurance company. 

RISKbitz: STOP PRESS    November 28 2011
Rumours are circulating the market that the former Italian premier Silvio Berlusconi is to join global broker Bunga Bunga Broka. 


Riskbitz: Robots to replace actuaries    October 21 2011
The London team behind the project is trying to understand how the human brain perceives faces, and then teach the actuary robots to recognise the emotions of people they interact with. 

Riskbitz: Rating agency spells out what you already know    October 21 2011
Added pressure is coming from the widespread panic and confusion created by cat model revisions. The new models revised property PMLs up by 4,500%.

Riskbitz: Insurance-linked reinsurance poised for growth    October 21 2011
Gnome Re, a pioneer in the development of the ILR sector, has underwritten both life and non-life risks.

Riskbitz: Dissant Re to initiate novel buy-back programme    October 21 2011
A spokeswoman for the company, Abby Downton, said that the reinsurer wished to buy back all the reinsurance cover it gave away for peanuts in the misplaced hope that 2011 would be a cat-free year and that investment returns would improve. 

RISKbitz goes to Monte Carlo Day 4    September 14 2011
Meg's Monte Carlo Horoscopes


RISKBitz goes to Monte Carlo Day 3: Bermuda company trials invisibility cloak and more    September 13 2011
An invisibility cloak that protects reinsurance underwriters from the unwanted attentions of brokers and journalists is being trialled at the Rendez-Vous this year. 

RISKbitz goes to Monte Carlo Day 2: A Guide to Rendez-Vous speak and more, and more    September 12 2011
The Monte Carlo Rendezvous attracts delegates from all over the known world, and inevitably there are language barriers to be overcome.

RISKbitz goes to Monte Carlo Day 1: Celebrity Big Broker is back, and more    September 11 2011
Cable channel WXY4001 is proud to announce the welcome return of Celebrity Big Broker, or the Reinsurance Rendez-Vous as it is sometimes known. 


Monte Carlo jamboree to be slashed
The insurance and reinsurance satire news service reports cat losses are set to radically alter this year’s Monte Carlo Rendez-Vous 

New cat models could mean reinsurance losses
Sir Norbert “Nobby” Johnson, chairman and chief claret officer (CCO) of Mocha Re, said the new models showed that reinsurers could face losses from catastrophes. 

Reinsurers hire superheroes as part of soft market strategy
Reinsurers are increasingly turning to superheroes in a last-ditch effort to stand up to brokers and try to turn the underwriting cycle.

RISKbitz hacking scandal – an apology    August 08 2011
Cheer yourself up with the latest from RISKbitz. 


Reinsurers caught napping    10 June 2011
A doze in the afternoons used to be considered unproductive or lazy outside Mediterranean countries but now the habit is spreading throughout the business world as more companies pay heed to research that shows naps improve productivity and can lead to higher profits. More

Sir Nob sacked from “Insurance Got Talent”    10 June 2011
Sir Norbert “Nobby” Johnson, Mocha Re’s chairman and CEO, has been sensationally removed from the judging panel for this year’s “Insurance Got Talent” London awards competition organised by Global Rebore International magazine. More

News in tight briefs    10 June 2011
Then even more news in even tighter briefs More


RISKbitz: Super-injunction in place to protect CEO's identity    27 May 2011

The chairman and chief executive of a leading reinsurance company has taken out a super-injunction to prevent the media from revealing his identity, the identity of his mistress, and the fact that he is as useless in the sack as he is in business. More

RISKbitz: Mocha Re announces $8.45bn first-quarter loss    27 May 2011
Mocha Re has said that its first-quarter 2011 results reflect unprecedented catastrophic losses, but show that its balance sheet is more than capable of withstanding the hit. More

RISKbitz: PISS-UP 2011 – Roll on next year    27 May 2011
Delegates and exhibitors are returning bleary eyed to their offices across the US after participating in the biggest get-together on the risk management calendar, the Professional Insurance Society Seminar and Underwriting Programme. More

RISKbitz's 30th Anniversary    22 April 2011
It’s RISKbitz’s 30th Anniversary! Yes, incredible as it may seem, RISKbitz has been going for five decades. More

RISKbitz: From the movie archive    22 April 2011
Taking you back in time with classic insurance industry films from 1981. You rented them on betamax cassettes remember? More

RISKbitz: New biblical business insurance coverage launched    4 March 2011
An innovative biblical business interruption coverage has been launched by Exodus Re aimed at multinational businesses concerned about supply chain resilience. More

RISKbitz: Technology CEO freaks IT audience    4 March 2011
The CEO of a leading insurance IT company has offered to resign after admitting that he doesn’t know what his company actually does. More

RISKbitz's annual results round-up    4 March 2011
RISKbitz rounds up the results posted by Debaucher Re, Brokeback Broking Group, Gollum Re and Hoggwartz Global Insurance. More

RISKbitz: Tardis Re redomiciles to late-1980s Bermuda    1 February 2011
Tardis Re chief executive Dr Who has confirmed that the board of directors has agreed to relocate the reinsurer's holding company. More

RISKbitz: G4's latest risk report highlights danger of risks    1 February 2011
The Global Group of Global Groups (G4) has released its latest report, "Big, Scary Risks 2011", which identifies the biggest, scariest risks the world faces in the run-up to the annual meeting of world leaders at Daftos. More

RISKbitz: WikiReLeeks publishes embarrassing emails    1 February 2011
A series of embarrassing emails have been released by Swansea-based WikiReLeeks that appear to show a number of sensible comments by some of the leading lights in the re/insurance industry More

RISKbitz's insurance and reinsurance predictions for 2011    31 December 2011

RISKbitz asks what we can expect in the insurance and reinsurance industry next year. More

The RISKbitz guide to the Renewal Season - how was it for you?    5 November 2010
What do the January renewals hold for the insurance industry? RISKbitz finds out. More

RISKbitz: North Korea to be new regional reinsurance hub    5 November 2010
The North Korean insurance and reinsurance market could soon be opened up to foreign competition according to sources close to the Kim Jong-Un, heir apparent to Kim Jong-Il, the leader of the rogue communist state. More

RISKbitz: Brokers trapped in underground wine bar could be there until Christmas, they hope    5 November 2010
A group of 33 reinsurance brokers have been found alive and well in a subterranean wine bar in the City of London. More

RISKbitz: Solvency II "a one-in-200 years event"    5 November 2010
Mega Broker, the reinsurance intermediary and capital advisor, has warned that Solvency II is a one-in-200 year event that could be catastrophic for the European re/insurance industry. More

RISKbitz: Brothers unite over leadership victory/defeat    21 October 2010
Mocha Re's chief executive and chairman, Sir Norbert "Nobby" Johnson, is said to be delighted at the election of his brother, Sir Egbert "Eggy" Johnson, to the position of president of The European Insurance and European Investment Organisation (EIEIO).

RISKbitz: "Opacity is the way forward" - brokers    21 October 2010
A survey of insurance brokers in Europe and in the US has revealed that the majority would prefer a full return to their old ways of doing business. 

RISKbitz: Sudden interest in Welsh International Financial Centre    21 October 2010
Wales' hopes of becoming a leading re/insurance domicile to rival Bermuda, Dublin and London took a boost recently with the arrival of 48,000 re/insurance executives at the beginning of October.

RISKbitz: Regulator brags of intent to destroy insurance industry    21 October 2010
EU commissioner Rip van Winkle has been caught on tape bragging to a fellow Brussels bureaucrat that he is intent on destroying the insurance industry because of a bad experience he once had.

RISKbitz: Calls for new reinsurance meeting 13 September 2010
Gollum Re's chief executive, Burl Juggernaut III, is leading calls for a new European reinsurance meeting to fill the gap between the Monte Carlo Rendez-Vous and the Baden-Baden meeting.


RISKbitz: Tech news latest 15 September 2010
Mega Broker Launches Total Fac-App for iPods, iPads, iPuds, iPhones and BlackBerrys

RISKbitz: At a cinema near you now! 13 September 2010
RISKbitz previews the insurance-related films hitting the big screen at the moment.

RISKbitz: Call for new, more "funky" hurricane names 13 September 2010
The Centre for Giving Names to Hurricanes, headquartered in San Jose, California, has announced a set of new hurricane names after the latest storms were described as "dull and uninspiring" by observers. 

RISKbitz: Steve Grabber's Monte Carlo diary Sunday 13 September 2010
Mega Broker's Steve Grabber emails home his exploits from Monte Carlo. 

RISKbitz: Steve Grabber's Monte Carlo diary Monday 13 September 2010
Mega Broker's Steve Grabber emails home his exploits from Monte Carlo. 

RISKbitz: Steve Grabber's Monte Carlo diary Tuesday 13 September 2010
Mega Broker's Steve Grabber emails home his exploits from Monte Carlo. 

RISKbitz: Steve Grabber's Monte Carlo diary Wednesday 15 September 2010
Mega Broker's Steve Grabber emails home his exploits from Monte Carlo.

RISKbitz: South African Forum marred by controversy 20 July 2010
The Global Insurance and Reinsurance Chief Executives' Forum, which took place in June and July in South Africa, saw lively debate, until controversy erupted over magic markers and French in-fighting.

RISKbitz: Reinsurers cap soft market leaks 20 July 2010
The International Association of Reinsurers and Insurers has finally succeeded in placing a temporary cap on stories about a continuing soft market.

RISKbitz: Domicile-hopping insurers escape scrutiny 20 July 2010
International insurance regulators have admitted that they are losing track of where insurance and reinsurance companies are headquartered.

RISKbitz: YouTube - Least popular 20 July 2010
RISKbitz reveals the insurance and reinsurance videos being ignored on YouTube.


RISKbitz: Every bad thing ever could happen

Mega Broker, the world's premier doomsayer, intermediary and capital adviser, has launched its report "We're All Going To Die and Our Stuff Destroyed to Hell.
.


RISKbitz: Luddite Agencies hires dolphin
A bottle-nosed dolphin has been appointed chief underwriting officer of Lloyd's Managing Agent Luddite Agencies Ltd.





RISKbitz: Neanderthal brokers are among us
Many insurance industry people alive today still possess some Neanderthal broker ancestry, according to a landmark scientific study.




RISKbitz: Ash grounds industry
The entire insurance industry was closed down recently as the volcanic ash spewing from the Icelandic volcano Eyvhadaskinfull prevented executives from flying around the world.


RISKbitz: NYIE hopes new dress code will attract investors
Regulators and industry officials trying to start the New York Insurance Exchange are looking at a raft of incentives to enhance its appeal including cheerleaders and disco garb, according to insiders.


RISKbitz: (Another) risk manager survey about to drop
A wide-ranging, risk management benchmarking survey by the Federation of International Risk Management Associations (FIRMASS) is now in production.



 RISKbitz: South Africa is top insurance destination this summer
South Africa is one of the hottest emerging insurance markets, according to a recent poll carried out by RISKbitz. Insurers are rushing to get there this June. 




RISKbitz: PR bot recall down to restraint malfunction
The insurance industry has been thrown into confusion by the dramatic announcement from Bot Inc that it intends to recall all of its male and female PR bots.



RISKbitz: Sir Nob nabbed on the job
Sir Norbert "Nobby" Johnson has told the world's media that he regrets having had so many jobs at the same time as he was heading up Mocha Re.

RISKbitz: Boss Hogg brings back kickbacks shock
The Risk Underwriting Management Union (RUMUN) today expressed its dismay at a decision by the Hazzard County Attorney General, Boss Hogg, to force the county's top insurance brokerage firms to resume bid rigging and demanding bribes from insurers.


RISKbitz: Recovery down to executive swine flu plans
The World Reinsurance Association has declared itself pleased with the response of the reinsurance industry to the Swine Flu pandemic.


RISKbitz: Reinsurance doesn't need bankers, says Institute
The Global Institute of Reinsurance Thoughtleaders has warned that an influx of investment bankers is threatening the market's reputation as the second or indeed third choice of those wishing to work in the finance industry.


RISKbitz: Those Oscar Nominations in full
The insurance blockbusters that are up for awards this year.


RISKbitz: The definitive guide to the decade of the century
Depending on where you were in the world, this incredible decade was the hottest, warmest, driest, wettest, iciest, windiest, coldest, noisiest, scariest 10 years since records began.


RISKbitz: Forecasting for the, er, Tenties
If the Noughties was the decade of hurricanes, terrorism and financial meltdown, what will the next 10 years bring? RISKbitz asked a number of industry insiders for their predictions.



RISKbitz: Now that's what I call the bestest ever films in the world...ever
The World Insurance Institute (Wii) has announced the list of the all-time greatest films


RISKbitz: News in tight briefs
Global reinsurer Mega Re has unveiled its new brand image.


RISKbitz: Data ProLapsi launches childish IT solution
Italian software company Data ProLapsi has extended its FAC.IT suite of solutions with the addition of three new products.

RISKbitz: Orlando plans risk and insurance theme park
So many insurance, reinsurance and risk management related conferences are now held in the Florida city of Orlando that a risk theme park is to be built there.

RISKbitz: Even actuaries bored by renewal season
The upcoming renewal season is expected to be the most boring on record, thanks to the absence of expensive nat cats or the collapse of the global financial system, according to market observers.

RISKbitz: Insurer bemoans fall of Berlin Wall
Not everyone has enjoyed the 20th anniversary of the fall of the Berlin Wall.

RISKbitz: Broker kickbacks to be made legal again shock
20 October 2009
Impromptu street parties broke out in the world's financial centres as insurance brokers heard that they will soon be allowed to reinstate contingent commissions.


RISKbitz: Ireland to be new Bermuda
20 October 2009
An unexpected result of climate change in the US is that Ireland is set to become the new Bermuda, according to scientists. Rising temperatures in Washington means that Ireland is becoming more hospitable - while Bermuda could eventually become unhabitable.

RISKbitz: Baden-Baden factoids
20 October 2009
Little-known tidbits about the German spa town where reinsurers and their clients hang out each October.

RISKbitz: Insurers feign dismay over Solvency II
September 20 2009
European insurance companies have reacted angrily to new proposals contained in Solvency II, the European directive due to be implemented in 2012.

RISKbitz: Call for pre-Rendez-Vous Rendez-Vous
September 20 2009
The reinsurance market is calling for a new annual meeting after concerns were raised over the way that the Rendez-Vous has changed its focus in recent years. The market wants a new meeting to be held in late August in either Las Vegas or Ibiza.

RISKbitz Monte Carlo factoids
September 20 2009
 People think they know what happens in Monte Carlo - but RISKbitz is pleased to reveal some of the lesser known "factoids" to do with it.

RISKbitz: Broker breaks out of 27-year coma     September 11 2009
Doctors are baffled by the sudden recovery of a reinsurance broker who has been in a coma since the early 1980s.


RISKbitz science news: What really prompts the actuary's "guilty look"? 
September 11 2009
What senior insurance company manager has not come into the office to find a guilty-looking actuary slouching around his desk? But is that guilty look on the actuary's face
real or imagined?

RISKbitz: Broker advises everyone on what to do about latest scary thing
September 11 2009
Mega Broker, the world's leading insurance broker and risk adviser, has issued a generic press release following the latest incident/outbreak/event.


RISKbitz: New Fluency II ruling to hit flacks' use of stock phrases
August 03 2009
Corporate communication directors are reeling from the news that EC media regulators are planning a clampdown on the use of certain words and phrases by insurance PR bots in their press releases.

RISKbitz: Latest appointments
August 03 2009
Graham Potbelly has been put in charge of client relations at the international loss adjusting firm Doublit & Counting (D&C).

RISKBITZ: Insurance factoids - fancy that
August 03 2009
Some amazing factoids from around the global insurance industry.

RISKbitz: Offshore centres to come onshore
15 June 2009
Tax havens are hatching extravagant and increasingly desperate strategies to counter the threat to their existence posed by President Barack Obama's plan to outlaw US businesses from using offshore tax havens.

RISKbitz: Media news from our man in the funny glasses
15 Jun 2009
The UK composite insurer OoArYoo has claimed that its decision to simultaneously rebrand and sack its entire workforce was a big public relations coup.

RISKbitz: Insurance Monopoly board game launched
15 June 2009
An insurance industry version of the popular board game Monopoly is to be released.

RISKbitz: Brokers welcome swine flu pandemic threat
06 May 2009

RISKbitz: Landmark legal decision made about something or other
06 May 2009

RISKbitz: New species of broker discovered
06 May 2009

RISKbitz: G20 anarchists destroy complacency at Mocha Re
01 April 2009

RISKbitz: Thyme of Texas releases annual letter
01 April 2009

RISKbitz: Sir Nobby to keep pension and everything else
01 April 2009

RISKbitz: Insurance Ponzi scheme uncovered
16 March 2009

RISKbitz: BIG names guy who will turn lights off
16 March 2009

RISKbitz: "Yes we can," network provider promises
16 March 2009

RISKbitz: Broker emissions must be cut
12 February 2009

RISKbitz: Survey points to more or less volatility ahead
12 February 2009

RISKbitz: London longs for return of hard market
12 February 2009

RISKbitz: Actuaries can feel emotions too, tests show
01 January 2009

RISKbitz: Obama gets wary welcome
01 January 2009

RISKbitz: Gitmo to be new captive domicile
01 January 2009

RISKbitz: Rating agency downgrades itself
01 January 2009

Stories from 2008

Stories from 2007


 

For more catastrophe reports, data and news, click through to the RMS/Reactions Catastrophe Centre.

Poll

Catastrophe bond issuance was $4.3bn in 2011. How much new issuance will there be in 2012?

Less than $3bn
0%
$3bn-$4bn
36%
$4bn-$5bn
27%
$5bn-$6bn
9%
$6bn-$7bn
18%
More than $7bn
9%

Quote

If last year was the year of the cat, then this year could be the year of the debt crisis.

Mike Van Slooten, head of international market analysis at Aon Benfield