Loss Control

The catastrophe bond market is strengthening despite the fact Superstorm Sandy was the third most expensive hurricane in U.S. history.

Executives see risk management as a significant and desired role in an organization, but a study shows the role hasnt yet tapped into its full potential to grow enterprises and strengthen their bottom lines.

Aon Risk Solutions released its bi-annual 2013 Global Risk Management Survey, and found that, on average, reported loss of income from the top 10 reported risks has increased from 28 percent in 2011 to 42 in 2013, while reported risk readiness has dropped 7 percent.

Allstate, the largest publicly traded U.S home and auto insurer, has returned to the catastrophe bond market with a $250 million offering, five years after investors lost millions of dollars on a previous issue due to the collapse of Lehman Brothers.

Before Superstorm Sandy struck New Jersey and New York, the storm made a turn to the northwest toward land, rattling the ocean floor and setting off seismometers across the U.S., according to University of Utah researchers.

Before Superstorm Sandy struck New Jersey and New York, the storm made a turn to the northwest toward land, rattling the ocean floor and setting off seismometers across the U.S., according to University of Utah researchers.