Risk Management

The clout of risk managers within insurance organizations is growing, a new survey shows, with the majority of chief risk officers now reporting directly to either the CEO or CFO.

Insurers across all sectors are acknowledging the impact of climate change on their business, but they are failing to engage in discussions about how to stay ahead of the potential threats, a new preparedness study says.

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., extols the value of sticking ones neck out, and proudly discusses the program innovations introduced under his watch that saved millions and generate revenue.

Whatever insurers may think about the presence or causes of climate change, one thing is certain: The business climate is changing rapidly.

American International Group Inc. is the top choice among insurance buyers in the 2013 Risk Manager Choice Awards as the best overall commercial-insurance provider.

The impact of newer, actuarially sound National Flood Insurance Program rates will mostly be felt by lower- and moderate-income homeowners, and the new rates will not pay off the programs debts, a FEMA official said today.

President Barack Obama's top healthcare adviser acknowledged on Tuesday that costs could rise in the individual health insurance market, particularly for men and younger people, because of the landmark 2010 healthcare restructuring due to take effect next year.

This year could see fewer tropical systems gaining hurricane strength than in 2012, but a greater number of storms might intensify to Category 3 or higher, according to a recent forecast.