Loss Control

Staying abreast of new scientific data about nanomaterial risks and regulatory developments will help ensure appropriate underwriting decisions and loss mitigation.

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.

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.

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.

Insurance broker Aon says the political-risk-exposure rating in its 2013 Aon Political Risk Map has improved for 13 countries over the past year, a notable upgrade over last years report, when only two nations had been upgraded. Click to read the highs and lows of Aons ratings and trends.

Superstorm Sandy will likely become the third-costliest hurricane in U.S. insurance history, but when examining historical storms using todays dollars and exposures, Sandy would fall to the 12th costliest storm, says the Insurance Information Institute.