Public Sector Risk Management

• 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

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  Mitigating Loss From the Next 'Sandy'

  By Michael A. Costonis  |  January 4, 2013

  The real claims lessons from Sandy are about insurers' preparation (not response) to disaster.

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  U.S. Top Court: Government May Be Liable for Flood Damage

  By Terry Baynes, Reuters, Jonathan Stempel, Reuters  |  December 6, 2012

  The U.S. Supreme Court ruled on Tuesday that the federal government may be required to pay damages when it releases water from a dam that causes temporary flooding for a property owner downstream.

• National Alliance Releases Profiles in Risk Management

  By Anya Khalamayzer, PropertyCasualty360.com  |  December 5, 2012

  The diverse experiences, career paths and responsibilities of nearly 500 risk specialists has been captured in one place giving the first profile of the risk management profession courtesy of The National Alliance Research Academy’s risk and insurance studies division.

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  Terrorist Attacks Up, but Deaths Down from 2007 Peak

  By Peter Apps, Reuters  |  December 4, 2012

  The number of terrorist attacks each year has more than quadrupled in the decade since September 11, 2001, a study released on Tuesday said, with Iraq, Pakistan and Afghanistan the most affected.

• New York, New Jersey Put $71B Price Tag on Sandy

  By Hilary Russ, Reuters  |  November 27, 2012

  New York state and New Jersey need at least $71.3 billion to recover from the devastation wrought by Superstorm Sandy and prevent similar damage from future storms, according to their latest estimates.

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  NRC: U.S. Energy Grid Increasingly Susceptible to Terror Attack

  By Anya Khalamayzer, PropertyCasualty360.com  |  November 16, 2012

  The East Coast electric grid’s slow recovery from Hurricane Sandy highlights the shortcomings of the overburdened utility system and its susceptibility to damage from a different kind of surprise threat: terrorist attacks, especially hackers, notes one risk manager.

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  S&P: Sandy Would Need to Be $50B Event to Erode Reinsurers' Capital Base

  By Phil Gusman, PropertyCasualty360.com  |  November 14, 2012

  S&P believes reinsurers can withstand losses well outside the range of current estimates, but says some market participants believe loss amounts could be 30-50 percent higher than estimated due to the hurricane-deductible debate in some states.

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  Terrorism Risk After Obama's Victory

  By Gordon Woo  |  November 7, 2012

  Obama's counterterrorism track record from the man who figured out how to model terrorism risk.

• American Hospital Association Chooses Chubb as Cyber Insurance Provider

  By Anya Khalamayzer, PropertyCasualty360.com  |  October 3, 2012

  American Hospital Association’s subsidiary, AHA Solutions, Inc., has chosen Chubb Group as the lead provider of cyber liability insurance for its members.

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  Nobel Laureate: More Evidence Links Extreme Weather To Global Warming

  By Christina Bramlet, PropertyCasualty360.com  |  August 21, 2012

  As temperatures spike and crops wither, the debate about climate change heats up. Nobel Prize-winning chemist, NOAA weigh in.

• Buffett Cuts $16 Billion U.S. Municipal Credit Bet in Half

  By Karen Brettell, Reuters  |  August 21, 2012

  Berkshire Hathaway Inc. will terminate half of its bullish $16 billion bet on the credit quality of U.S. states, cities and towns, and has also cut its exposure to high yield corporate debt, it said in a regulatory filing this month.

• Four Million U.S. Residences at Risk to Storm Surge

  By Anya Khalamayzer, PropertyCasualty360.com  |  August 17, 2012

  More than four million U.S. residences along the Atlantic and Gulf Coasts are at risk of hurricane-driven storm-surge damage, totaling $710 billion in property exposure, says the 2012 CoreLogic Storm Surge Report.

• IAIS Head Urges Regulators to Think Internationally, and Beyond Insurance

  By Mark E. Ruquet, PropertyCasualty360.com  |  August 13, 2012

  Globalization has reached the insurance industry, making it increasingly important for regulators from around the world to communicate with one another to preserve markets and protect consumers, says the chairman of the International Association of Insurance Supervisors.