Cyclone Friederike insured loss estimate rises: Perils
Cyclone Friederike, which swept through central Europe in January, caused an estimated €1.63 billion ($2.01 billion) in insured property losses, catastrophe insurance market consultant Perils A.G. said Tuesday. Friederike, also known as David, hit the British Isles, Belgium, the Netherlands and Germany on Jan. 17-18, Zurich-based Perils said in a statement. The storm caused at […]
Monkey business in court: Copyright dispute over macaque selfie
A federal appeals court in California threw a monkey wrench into a copyright dispute recently by refusing to dismiss the case of Naruto, the selfie-taking simian.
US drug agency proposes rules to rein in opioid manufacturing
(Reuters) — The U.S. Drug Enforcement Administration on Tuesday unveiled plans to rein in the amount of opioids that can be manufactured by drugmakers in a given year in an effort to combat the deadly opioid epidemic in the United States. The DEA’s proposed changes to its regulations over addictive drug manufacturing quotas were formally […]
Tech firms vow not to aid government cyber attacks
(Reuters) Microsoft Corp., Facebook Inc. and more than 30 other global technology companies on Tuesday announced a joint pledge not to assist any government in offensive cyber attacks.
Pioneer pilot shows mitigated risk brings substantial rewards
An aviators life is all about risk and risk management, and Vernice FlyGirl Armour, Americas first African-American female pilot in the U.S. Marine Corps discussed the risks inherent in her work as a combat pilot at RIMS.
Flood cover debate set to heat up as expiration nears
The National Flood Insurance Program will be the subject of a major showdown in Congress as it approaches its scheduled expiration on July 31, according to legislative experts.
Des assureurs croates rachetés par Sava Re
L'assureur et réassureur slovène Pozavarovalnica Sava d.d. a indiqué que sa filiale Zavarovalnica Sava d.d. avait racheté les assureurs croates Ergo Osiguranje d.d. et Ergo Zivotno Osiguranje d.d., selon Reuters. Les assureurs seront achetés à Ergo Austria International A. G. et sa filiale Ergo Versicherung Aktiengesellschaft. Lire la suite
La Russie enquête sur un réassureur
La Russie enquête sur les relations entre la Russian National Reinsurance Company et les courtiers de réassurance Aon P.L.C., Willis Towers Watson P.L.C. et Marsh & McLennan Cos. Inc. L'enquête cherche à établir si le réassureur a pu utiliser ses relations avec les courtiers pour éviter les restrictions imposées par l'état sur le retrait de […]
Changements de direction chez Marsh pour le Royaume-Uni et le Canada
Marsh a nommé Chris Lay PDG de sa région Royaume-Uni et Irlande et PDG de Marsh Ltd., alors que Sarah Robson succédera à M. Lay au poste de président et PDG de Marsh Canada Ltd. M. Lay succède à Mark Weil, qui quitte Marsh pour occuper un poste de haut niveau en dehors du secteur […]
Insurance industry veteran Fred Donner joins FTI Consulting
FTI Consulting Inc. said Tuesday that Fred R. Donner, most recently executive vice president of enterprise risk management for Travelers Cos. Inc., has been appointed senior managing director in its global insurance services practice.
Sedgwick going global with Cunningham Lindsey acquisition
Sedgwick Claims Management Services Inc. is going to be a global brand following its acquisition of London-based loss adjuster and claims management firm Cunningham Lindsey Group Ltd. and its subsidiaries and will rebrand most of its various divisions under the Sedgwick banner, Sedgwick President and CEO Dave North said on Tuesday.
Ohio roofer cited for exposing workers to falls, other hazards
U.S. workplace safety regulators have cited an Ohio roofing contractor for exposing employees to falls and other safety hazards and have proposed penalties totaling $138,394.
Q&A: Sanjay Godhwani, Berkshire Hathaway Specialty Insurance
Sanjay Godhwani, executive vice president at Berkshire Hathaway Specialty Insurance Co., discusses the effect of last years catastrophes on the market.
Collaboration, communication keys to claims success
Collaboration among employers, attorneys and claims adjusters is critical in helping to better manage workers compensation claims and keeping litigation costs down, say those in the trenches of closing injured-worker claims.
Private-equity firm buys majority stake in insurtech company
Private equity firm DFW Capital Partners Inc. has taken a majority stake in ReSource Pro L.L.C., the New-York-based insurtech company said Tuesday. Terms of the transaction were not disclosed. DFW Capital Partner’s stake was acquired from Distinguished Programs Group L.L.C., which no longer owns an interest in the business, ResourcePro CEO Dan Epstein told Business […]
Risk managers face up to tech advances
The acceleration of technological change in business is outpacing the risk management communitys response to the exposures and challenges created by that change, according to the Marsh L.L.C. Excellence in Risk Management report.
Generali boosts international casualty services
Generali Global Corporate & Commercial, part of Italian insurer Assicurazioni Generali S.p.A., on Tuesday said it is releasing an enhanced version of its Centurion international casualty coverage for multinational corporate and commercial organizations. The latest iteration of Centurion, which originally launched in 2015, adds features such as benefits for accidental injuries resulting in paralysis, tragic […]
Marijuana insurers in holding pattern after Sessions memo
Some insurers have left the marijuana insurance market after a warning memo sent by Attorney General Jeff Sessions earlier this year, but others are staying and even planning to increase their involvement in the sector.
Keynote builds winning nonprofit on foundation of keeping promises
All societies have the importance of keeping promises in common, said the opening keynote speaker during RIMSs annual conference in San Antonio on Monday.
Plastics maker cited for exposing workers to safety, health hazards
A New Jersey plastics manufacturer is facing proposed fines totaling $435,679 after being cited by federal workplace safety regulators for exposing employees to safety and health hazards.