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All If News

  1. The clash between US and EU - an unresolved paradox

    07 November 2012
    Liability Newsletter 2/2012. Claims handling at If means working internationally, and we do our utmost to pass that knowledge on to our customers, to ensure that you as a company will be able to limit your financial risk, regardless of whether the risk is insurable or not.
  2. Heavy precipitation, a risk to be considered

    09 September 2012
    Lessons from Losses 4/2012. A cloudburst in Copenhagen in July 2011 caused extensive damage in the area. Events like this are becoming more frequent, and while authorities may provide improved infrastructure to address the issue, your own preparation for an extreme rain event may prove valuable sooner than you may wish to know.
  3. Human error risks in the delivery of raw materials

    17 June 2012
    Human error can result in significant losses. Hence, insurance companies must pay more and more attention to the human factor in loss events. For example, the processing industries may suffer important losses due to human errors in the delivery of their raw materials.
  4. Fatal accident on a heating plant

    06 May 2012
    Two workers, one for the heating plant and the other one a truck driver, were emptying a load of stumps into a sieve when they heard a loud bang coming from the hammer crusher. The worker of the heating plant shut down the crusher and went inside to check what had caused the sound.
  5. Frost and water damage in buildings

    19 February 2012
    Lesson from Losses 1/2012. Water can be both a blessing and a curse. We are completely dependent upon it, whether for drinking, cooking, cleaning, production purposes in business, or quite simply the operation of buildings. Losing access to water can create great challenges for both businesses and private individuals. Cleaning up water damage can take time, and in the worst cases can involve mould, fungus, rot, and vermin in structures as a result of water damage if clean-up is not carried out quickly enough, or in the right way.
  6. Travel insurance can literally save you

    07 December 2011
    Max, a German engineer, travelled to India on business – a trip, which almost proved fatal. Luckily, his Finnish employer had taken out worldwide If Business Travel insurance for all staff travelling on business.
  7. Dependencies and Business Interruption

    23 August 2011
    Lessons from Losses 6/2011. Property Insurance indemnifies the effects of a physical damage on insured property. However, for a business to secure its long-term survival, Business Interruption Insurance is invaluable.
  8. Plan, maintain and test your back up power system

    18 April 2011
    Lessons from Losses 3/2011. The purpose of backup power systems is to safeguard power supply in the event of cuts or failures in the power supply network. Fortunately, power failures in Finland are not caused by earthquakes of magnitude 9.0, but by snow or storms, for example. Power cuts are common, and even short power failures can cause extended production stoppages, loss of profit and even hazardous circumstances, unless the company has a reliable backup power system.
  9. The Revised Incoterms

    06 April 2011
    Marine Newsletter 1/2011. The Incoterms are used daily by many different operators – salespeople, purchasers, forwarders, agents, bankers, insurers, lawyers, and so on. The individual clauses are used to define the parties in a transaction who take on the costs, risks, and responsibilities involved.
  10. Product Liability RM methods of long supply chains

    06 March 2011
    Lessons from Losses 2/2011. Supply chain risk management has become one of the most discussed areas to rise due to globalization. The outsourcing of production and cost efficiency targets with lean supply chains has led companies to face new risks. These risks are usually seen as continuity issues and threats to business and earnings.
  11. The safe removal of snow and ice from roofs

    15 December 2010
    A roof structure is in danger of collapsing when the snow load on the roof is distributed unevenly. Snow builds up easily, e.g. between parallel gable roofs or arched roofs. A great amount of snow can also accumulate on flat roofs.
  12. Accidents with manlifts

    07 October 2010
    Lessons from Losses 7/2010. During the recent years, there have been quite a lot of fatal accidents with manlifts such as cherry pickers, scissor lifts and boom lifts. These accidents are due to negligence regarding safety measures and the improper use of lifts. This Lessons from losses describes some of these accidents and gives hints and instructions for the safe use of manlifts.
  13. Sprinkler installations

    09 June 2010
    Lessons from losses 5/2010. Sprinklers are automatic extinguishing systems that are reliable and have a good damage-limitation effect on fire. When the sprinkler head opens, water is released. From a statistical point of view, this provides a high degree of functional reliability.
  14. Breakdown of cold chain during pharmaceuticals transportation

    05 May 2010
    Lessons from Losses 4/2010. Transport of temperature-sensitive materials such as medical products and foodstuffs has always been linked to increased risk of damage during transport of either complete or partial consignments.
  15. Deliveries to exotic countries

    16 March 2010
    Marine Newsletter 2/2010. Business is done where business is, and to many of our customers that means remote places and exotic countries all around the globe. Transportation risks can however be covered just about anywhere in the world.
  16. Recourse from an industrial customer perspective

    02 February 2010
    Lessons from Losses 1/2010. ‘It’s not over till the fat lady sings’ is a phrase that could well express the aim of If’s recourse activities: a customer suffers damage, we pay out compensation in accordance with the insurance agreement. However, the financial result of the claim may not be established until we carry out a recourse process, ie that we have assessed the possibility of recovering the amount from someone who may have caused the damage or is otherwise responsible for compensation for the incident. Recourse is thus a natural part of our customer relations, and it is the final result which is significant when we – both insurance company and customer – add up our respective damage costs.
  17. If helps a successful industry put the wind beneath its wings

    13 January 2010
    Marine Newsletter 1/2010. The world’s leading manufacturer of wind-turbine blades is LM Glasfiber, which has supplied blades for more than a third of the wind turbines in the world, saving some 70 M tons of atmospheric CO2 by the production of green power.
  18. Institute Cargo Clauses 2009

    05 October 2009
    Marine Newsletter 3/2009. A brief comparison of the 1982 and 2009 Clauses. As a consequence of the way that world trade has developed and to some extent changed its character as a result of more modern transport technology, there is an increased demand from insured parties for up-to-date, clearer, and more advantageous terms of insurance. Additionally, the constantly changing threats from terrorism and piracy have affected the demand for and creation of new clauses. In 2006, an examination of existing cargo clauses was initiated, and, at the beginning of 2009, the revised ICC clauses became available to the insurance market. Besides the Civil Clauses ICC (A), (B) and (C), the updated clauses cover the ICC War and Strikes Clauses. ​
  19. Reducing crane fatalities

    27 August 2009
    Lessons from Losses 6/2009. Small steps to avoid fatal casualties.
  20. Electrical safety

    26 May 2009
    Lessons from Losses 4/2009. For professionals, electrical safety usually means the prevention of electric shock and electric arc accidents. However, electrical fires cause more deaths. Last year in Finland, one person died in an electrical accident but several people were killed in electric fires. Of those killed by construction fires, 20% died in fires caused by electricity.