Public Sector Risk Management

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  Authorities Launch Criminal Investigation of West Fertilizer Explosion

  By Chad Hemenway, PropertyCasualty360.com  |  May 10, 2013

  A criminal investigation has been launched into the West, Texas fertilizer plant that exploded last month.

• Slate for World Risk Day Announced

  By Anya Khalamayzer, PropertyCasualty360.com  |  May 10, 2013

  World Risk Day, a virtual conference that invites risk leaders from around the world to present industry knowledge, has announced its speaker lineup.

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  Bill Introduced to Extend TRIA for 10 Years

  By Elizabeth D. Festa, PropertyCasualty360.com  |  May 10, 2013

  Legislation to extend the Terrorism Risk Insurance Act for a decade has been introduced in the House.

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  Copper Theft a Hard-Wired Risk for Insurers, Businesses, Homeowners

  By Anya Khalamayzer, PropertyCasualty360.com  |  May 2, 2013

  Copper was targeted in 96 percent of all metal thefts in the past three years, reports the National Insurance Crime Bureau (NICB), with criminals going after business owners and homeowners evenly.

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  Ace’s Greenberg: TRIA Renewal a ‘No-Brainer’

  By Mark E. Ruquet, PropertyCasualty360.com  |  April 23, 2013

  Ace Ltd. CEO Evan G. Greenberg says there would be little to no terrorism insurance in the market without TRIA.

• Aspen Re Forms Capital Markets Division

  By Staff Writer  |  April 17, 2013

  The reinsurance segment of Aspen Insurance Holdings Ltd. says it has formed a new division, Aspen Capital Markets.

• Munich Re Sells $500M Bond to Protect North Carolina

  By Sarah Mortimer, Reuters  |  April 17, 2013

  Munich Re has sold a $500 million catastrophe bond to protect two North Carolina underwriting associations against hurricane losses, as insurers increasingly choose to cover risks with bonds rather than buying traditional reinsurance.

• Boston Terror Attack 'Bound to Have Impact' on Event Cancellation Coverage

  By Chad Hemenway, PropertyCasualty360.com  |  April 16, 2013

  The bombing at the Boston Marathon—the first successful, high-profile terrorist attack in the U.S. since 9/11—could impact the terrorism insurance marketplace, specifically event cancellation coverage.

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  Boston Tragedy Indicative of 'New Reality' of Terror Attacks

  By Christina Bramlet, PropertyCasualty360.com  |  April 16, 2013

  The attacks at the 117th Boston Marathon point to disturbing uptick in the use of small explosives.

• AIR Worldwide Announces New Public Risk Services Group

  By Staff Writer  |  April 3, 2013

  Catastrophe modeling firm AIR Worldwide announces the availability of Public Risk Services, a new consulting service to support the needs of public sector institutions and stakeholders charged with managing catastrophe risk. John W. Rollins, vice president at AIR Worldwide, will head the new service group.

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  Video: Managing Risk in the City of Angels

  By Shawn Moynihan, PropertyCasualty360.com  |  April 2, 2013

  Victor Parker, risk management director for the City of Los Angeles, shares his mitigation strategies for some of the trickiest exposures in the U.S.

• Court Says City of Stockton, California May Proceed with Bankruptcy

  By Jonathan Weber, Reuters  |  April 2, 2013

  A U.S. federal judge on Monday approved the city of Stockton's petition for bankruptcy in a case that sets the stage for a lengthy battle between bondholders and the California pension system.

• TRIA Renewal an 'Uphill Climb,' Associations Warn

  By Arthur D. Postal, PropertyCasualty360.com  |  March 22, 2013

  The top staff official of the Property Casualty Insurers Association of America is warning the industry that reauthorization of the Terrorism Risk Insurance Act will be an “uphill climb” in this Congress.

• New York Considers Buying Up Flood-Prone Properties Damaged by Sandy

  By Mark E. Ruquet, PropertyCasualty360  |  February 6, 2013

  New York Gov. Andrew M. Cuomo is proposing to spend a chunk of Superstorm Sandy relief funds on buying out severely damaged homes and turning the properties into open space or flood plains, an idea that met with approval by industry interests.

• National Alliance Expands Education for School Risk Management

  By Anya Khalamayzer, PropertyCasualty360  |  January 24, 2013

  The National Alliance for Insurance Education & Research is adding classroom courses to its Certified School Risk Managers program in 2013.

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  Risk Management Student Sinks Half Court Shot, Nets $18k from State Farm

  By Melissa Hillebrand, PropertyCasualty360.com  |  January 21, 2013

  Kevin Schwartz, a Butler junior, connects on first attempt