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| related topics |
| {financial, litigation, operation} |
| {operation, international, foreign} |
| {competitive, industry, competition} |
| {regulation, government, change} |
| {personnel, key, retain} |
| {debt, indebtedness, cash} |
|
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Risks Relating to our Business and the Insurance Industry
Premiums and Commissions We do not control the premiums on which our commissions are based, and volatility or declines in premiums may seriously undermine our profitability.
Regulation We are subject to insurance industry regulation worldwide. If we fail to comply with regulatory requirements, we may not be able to conduct our business.
Regulation We are subject to a number of investigations and legal proceedings concerning contingent compensation, other industry practices and certain conduct, which, if determined unfavorably to us, could adversely affect our financial results.
Claims, Lawsuits and Other Proceedings Our business, results of operations, financial condition or liquidity may be materially adversely affected by errors and omissions and the outcome of certain actual and potential claims, lawsuits and proceedings.
Put and Call Arrangements We have entered into significant put and call arrangements which may require us to pay substantial amounts to purchase shares in one of our associates. Those payments would reduce our liquidity and short-term cash flow.
Competition Competition in our industry is intense, and if we are unable to compete effectively, we may lose market share and our business may be materially adversely affected.
Dependence on Key Personnel The loss of our Chairman and Chief Executive Officer or a number of our senior management or a significant number of our brokers could significantly impede our financial plans, growth, marketing and other objectives.
International Operations Our significant non-US operations, particularly those in the United Kingdom, expose us to exchange rate fluctuations and various risks that could impact our business.
Full 10-K form ▸
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