Risk Management

News

Don't eat romaine lettuce, U.S. says, as E. coli outbreak widens

Craig Giammona and Megan Durisin | April 20, 2018

The outbreak has sickened 53 people in 16 states, including 31 who were hospitalized, according to the agency. The CDC said five victims have developed kidney failure.

News

Violent winds, flying debris: What happens when a plane ruptures

Alan Levin and Ryan Beene | April 20, 2018

There will no doubt be P&C insurance claims following this week's Southwest Airlines' passenger fatality. Liability, commercial business and worker's comp claims along with debates over causation and fault are sure to arise.

Analysis

Using proxy exposure units to measure commercial auto risk

Dheeraj Pandey | April 20, 2018

The use of data analytics is both necessary and inevitable for implementing successful lines of commercial auto insurance.

Expert Opinion

Here's what the latest New York cyber regulations mean for P&C insurers

Jaime Kahan | April 20, 2018

It's important to understand the far-reaching impact of the cybersecurity requirements adopted by the New York State Department of Financial Services.

News

Bipartisan bill would block consumer bureau from regulating insurance

Steven A. Meyerowitz, | April 20, 2018

U.S. Senators Tim Scott (R-S.C.), Mike Rounds (R-S.D.), Tammy Baldwin (D-Wis.), and Joe Manchin (D-W.Va.) have introduced legislation that would make it clear that the CFPB may not regulate insurance.

Best Practices

Tornado and severe weather insurance checklist

Jayleen R. Heft | April 20, 2018

Homeowners, renters and business and vehicle owners can find themselves in a financially challenging situation following a spring storm if they haven't checked their insurance coverage carefully.​

News

Key takeaways from Aon Risk Solution's Terrorism and Political Violence Risk Map

Denny Jacob | April 20, 2018

Drawn on insights from their partners, The Risk Advisory Group and Continuum Economics, the maps and their underlying analysis address some of the most pressing issues in the crisis management space.

Research

Wide support for driving impairment standards for marijuana

Victoria Prussen Spears | April 19, 2018

A new survey of U.S. adults conducted on behalf of the PCI, found that 70% think the government should establish driving impairment standards for marijuana, similar to the blood alcohol level standards set for drinking and driving.

Slideshow

Best of swag gear at RIMS 2018

Danielle Ling | April 19, 2018

Check out the best giveaways at RIMS 2018.

News

Spanish mayor offers to help Gibraltar insurers get around Brexit

Esteban Duarte | April 19, 2018

A small town mayor from southern Spain is offering Gibraltar-based insurers a way to retain access to the EU single market after Britain leaves the bloc next year.

News

NU's Risk manager choice awards: Who's talking?

Shawn Moynihan | April 19, 2018

Chalkboard: Here is a breakdown of the types of organizations surveyed about the 'top' P&C carriers. [infographic]

News

Class action targets CIBA Insurance as 'Ponzi scheme'

Greg Land | April 19, 2018

A putative class action filed in federal court accuses California-based CIBA Insurance of operating as an illegal 'Ponzi scheme' in collaboration with a number of insurance company partners, including co-defendant Great Lakes Insurance SE.

Commentary

Top tech mega-trends with big implications for insurance

Mark Breading | April 18, 2018

Taken as a whole, the change wrought by emerging technologies is likely to rock the insurance industry for the next decade.

News

NU bestows Risk Manager Choice Awards at RIMS 2018

Danielle Ling | April 17, 2018

Check out this year's winners of NU's Risk Manager Choice Awards.

News

Southwest jet engine blows out in flight, killing one passenger

Alan Levin and Thomas Black | April 17, 2018

One passenger was killed when an engine blew out on a Southwest jetliner carrying 148 people, marking the first fatality on a U.S.-registered airline in more than nine years.

News

University of Wisconsin-Madison wins 2018 Spencer-RIMS Risk Management Challenge

Denny Jacob | April 17, 2018

The student team consisted of Becky Cacioppo, Taryn Otto, Cassandra Ring and Cameron Rowe; Carl Berlett served as an academic advisor.

News

3 key takeaways from Morgan Stanley's 2017 Reserve Analysis

Denny Jacob | April 17, 2018

As we near the halfway point of 2018, it's important to look back at the previous year and see how the insurance industry is doing financially.

The rise of CAT claims

Christine G. Barlow | April 17, 2018

Following a year of catastrophic wildfire and weather-related claims, insurers are addressing some of the challenges arising from these losses.

Slideshow

Highlights from day one of RIMS 2018

Danielle Ling | April 16, 2018

See what you missed from day one of RIMS 2018.

News

Risk management's top honors help launch RIMS 2018

PC360 Staff | April 16, 2018

Here are the cream of the crop among the thousands of risk management and insurance professionals gathered in San Antonio for the RIMS 2018.

News

Risk Management Hall of Fame announces newest inductee

Jayleen R. Heft | April 16, 2018

RIMS and AIG have announced Berry Griffin, Jr. — the force behind the industry's first Cost of Risk Survey — as the 2018 inductee into the Risk Management Hall of Fame.

News

Salmonella outbreak forces recall of 207 million eggs

Megan Durisin | April 16, 2018

The recall is equivalent to about 90 days production at the farm, which produces 2.3 million eggs a day.

News

RIMS/Marsh survey: Risk management isn't keeping up with technology risks

Denny Jacob | April 16, 2018

Overall, survey respondents did not feel that they have enough knowledge about these disruptive technologies to contribute to discussions about them at a "strategic advisor" level.

Commentary

Career longevity advice from a 'risk manager for life'

C. Nahua Maunakea | April 16, 2018

Hope springs eternal from this 35-year risk management veteran.

Analysis

Staying sharp: Cutting through new restaurant workplace injury trends

John Logan | April 16, 2018

According to Marsh’s 2017 Restaurant Loss Cost Trends Report, nearly one-quarter (24%) of all restaurant workers’ compensation claims in 2016 were from cuts, punctures and scrapes.

News

How businesses can prepare for active shooters

Kathleen M. Bonczyk, Esq. | April 16, 2018

Personal and business stresses are just some of the triggers for business-related shootings. Recognizing the signs early can be the difference between life and death.

Commentary

Some claims just aren't fair...but settlement practices should be

Ken Brownlee, CPCU | April 13, 2018

Fairness is claims means investigating and paying them in a timely manner.

Expert Opinion

After the driverless fatality, insurance and litigation will be forever changed

Randy Maniloff | April 13, 2018

Unlike an inconsequential glitch with your office computer, in the case of driverless cars it's control, alt and someone’s life is deleted.

Commentary

Why underwriting isn't dead

Nicole Mongillo | April 13, 2018

There have been murmurs about a shift away from the underwriter, with technology driving the change. But underwriters continue to be the backbone of insurance.

News

Uber's 2016 breach affected more than 20 million U.S. users

Todd Shields and Eric Newcomer | April 12, 2018

Uber could be subject to civil penalties if it fails to notify the FTC of future incidents, and it must submit audits of its data security.

News

Killers Harvey, Irma, Maria, Nate retired as hurricane names

Brian K. Sullivan | April 12, 2018

The names of hurricanes that killed hundreds of people in 2017 and helped cause more than $215 billion in damage have been retired, never to be used again for the Atlantic.

Analysis

Is car-sharing the next 'gig' thing?

Christine G. Barlow | April 12, 2018

While ridesharing got all the attention and took off rapidly, car-sharing, which is getting more popular, developed without a lot of press.

News

Weather CSI: Verifying the impact of wind, rain & storm surge

Megan D. Walker-Radtke, CCM | April 12, 2018

Like the crime scene investigators on popular television shows, insurers are using forensic meteorology to verify the real source of hurricane-related claims.

News

Global insured losses from disasters in 2017 were highest ever, Swiss Re finds

Jayleen R. Heft | April 12, 2018

The main driver of the high insured losses was an active hurricane season in the North Atlantic. In addition, the combined insurance losses from all wildfires worldwide were $14 billion, the highest ever in a single year.

Case Study

Law firm softball game injury not work-related, judge rules

Tom McParland | April 12, 2018

An employer does not have to pay a paralegal's workers' compensation claims for an injury he suffered while rounding the bases during a softball game played by employees, a Delaware Superior Court judge has ruled.

Research

Daydreaming tops fatal distracted driving behaviors, Erie Insurance finds

Jayleen R. Heft | April 12, 2018

Police report that 61% of distracted drivers were daydreaming at the time of a fatal crash, compared with 14% of drivers who were distracted by cell phone use.

News

5 tips to prevent and mitigate the effects of identity theft

Denny Jacob | April 12, 2018

Data breaches have become more common, and as a result, consumers are left to wonder how much of their sensitive information has been exposed.

Analysis

Who pays the claims costs if the natural disaster never comes?

Michael Brown | April 11, 2018

A business can still suffer monetary damage when forced to close shop to comply with orders from civil authorities.

Research

State laws mandating interlocks for all DUI offenders save lives, study finds

Steven A. Meyerowitz | April 11, 2018

Laws requiring all impaired-driving offenders to install alcohol interlocks reduce the number of impaired drivers in fatal crashes by 16%, a new study by the Insurance Institute for Highway Safety has found.

Best Practices

D&O policy elements, exclusions risk managers need to know

Karen Sorrell | April 11, 2018

Decentralized, fragmented policy responsibilities and exposures can complicate a company's D&O risk management efforts.

News

In a shared economy, who should bear the risks that come with it?

Denny Jacob | April 10, 2018

The sharing economy model requires a different approach to risk management based on understanding the behavioral economics of consumer preferences and attitudes during risk.

News

Attorneys seek to transfer federal flood lawsuits to South Florida

Samantha Joseph | April 10, 2018

Lawsuits stem from the 2017 hurricanes and affected policyholders in Florida, Puerto Rico and the U.S. Virgin Islands.

Commentary

Technology is not an insurance industry villain

Simon White | April 10, 2018

For agents and brokers these days, in order to move forward, there's no looking back. Here are four recommendations for insurers.

Video

Seven months after Hurricane Maria, Puerto Rico struggles to rebuild (Video)

Danielle Ling | April 09, 2018

By 2020, “aging and unreliable” infrastructure will cost U.S. businesses $1.2 trillion, the American Society of Civil Engineers estimates.

News

Top 10 most common medical conditions for cats

Denny Jacob | April 09, 2018

For current and future cat owners, knowing the costs for common medical conditions can help them be prepared for when the unexpected occurs.

News

How do you rank? NU's 2018 Risk Manager Compensation Survey

Shawn Moynihan | April 09, 2018

Find out how your salary and total comp compete with those of your risk-mitigation peers.

Analysis

Here's what risk managers need to know about the EU's GDPR

Emy R. Donavan | April 09, 2018

Companies of all sizes need to get a clear understanding of the personal data they are processing: How much? What information? Where is it stored, and with whom?

News

New York's nor'easters join list of 2018 $1 billion disasters

Brian K. Sullivan | April 06, 2018

From 1980 to 2018 there have been 230 $1 billion-plus events, with a total cost exceeding $1.5 trillion. Last year had the most, with 16 disasters costing more than $300 billion.

News

Chubb CEO worried about U.S. nationalism, instability in letter

Brian Louis | April 06, 2018

Evan Greenberg, chairman and chief executive officer of insurer Chubb Ltd., said he worries about the effect of U.S. nationalism on trade and that the country is missing a chance to lead.

News

Liability questions loom in Delta vendor data breach

Gabrielle Orum Hernández | April 06, 2018

In the event of a third-party breach, multinational corporations such as Delta potentially face breach notification requirements in multiple states.