Research & Rankings: Risk management technology survey
The average annual expenditure on risk management information systems technology is $157,240, according to the 2021 Business Insurance online survey on risk management technology.
Alternative options can fill gaps in traditional policies
Parametric insurance is being investigated by some to address nonphysical damage business interruption risks.
Buoyant insurance M&A market rolls on amid abundant capital, hardening rates
Mergers and acquisitions activity in the insurance sector was strong in 2020 despite COVID-19 and is expected to remain robust in 2021 as rising commercial insurance rates bolster earnings, making insurers attractive targets, and deployable capital remains abundant, analysts and others say.
States introduce changes to promote legacy deals for insurance sector
Mergers and acquisitions among ongoing insurance sector companies are triggering more interest in runoff transactions to seal off old liabilities, and the trend has been boosted by legislation in various states seeking to simplify the process.
Parametric risk transfer takes off as buyers seek catastrophe capacity
Sharp increases in insurance pricing are driving more interest in alternative coverage, including insurance products for which claims triggers are based on data points, such as climatic data, usually provided by an independent, verifiable third party.
Reinsurance rates up at April 1 renewals
April 1 reinsurance renewals saw property rate increases largely in the single and low double digits as capacity remained mainly adequate, bolstered by insurance-linked securities, according to a report Thursday from Willis Re, the reinsurance unit of Willis Towers Watson PLC.
Technology helps reduce railroad risks
The general implementation of positive train control, technology intended to stop trains before accidents can occur, will significantly reduce railroads liability but is not a cure-all, experts warn.
Daunting views come with sky-high risks
The growing number of extraordinarily tall, or supertall, buildings that have shot up around the globe can present significant risk management concerns in construction and maintenance.
Suicides remain tough problem
Suicide is a tough, and in some respects intractable, risk management issue facing railroads.
Climate change shines light on risk management
Bizarre weather, green transition, more regulation create perfect storm of increased business exposures
Climate exposures placed on boardroom agenda
As regulators increasingly focus on climate-related disclosures and environmental, social and governance issues, public company boards should review their operations and U.S. Securities and Exchange Commission filings, industry experts say.
View from the top: Mike Kerner, Munich Re Specialty Insurance
Mike Kerner joined Munich Reinsurance America Inc. in December 2018 as CEO of its specialty commercial insurance unit, Munich Re Specialty Insurance in New York.
Mosaic snags former Willis reps and warranties leader
Bermuda start-up insurer Mosaic Insurance Holdings Ltd. has recruited former Willis Towers Watson PLC transactional risk leader William Monat.
Meatpackers suit against OSHA dismissed
A federal judge in Pennsylvania on Tuesday dismissed a lawsuit by meat plant workers against the Occupational Health and Safety Administration, claiming the agency failed to protect them from COVID-19.
Employers wrestle with pandemic fatigue
Widespread vaccinations and states easing of pandemic mandates have sent the message that the country could resume normal activities soon a message that has trickled down to the workforce, leaving employers grappling with expectations versus reality.
OSHA sharpens focus of COVID-19 safety efforts
Employers nationwide and those managing workplace safety have had their eyes on the U.S. Occupational Safety and Health Administration, which in accordance with directives from the Biden administration has been making guidance and enforcement changes to better protect workers from COVID-19.
OSHA misses deadline on national safety standard for COVID-19
The March 15 deadline passed without the U.S. Occupational Safety and Health Administration delivering details of an expected emergency temporary standard for COVID-19 workplace safety, as it had been directed to do under an executive order.
Technology addresses climate risk
Improved data and rapidly developing technology are helping companies better manage climate-related risks, with satellite imagery, internet of things sensors and machine learning being deployed.
Viewpoint: Innovation steps up in crisis
If theres an upside to the pandemic its that the use of technology and digital assets has accelerated and expanded at a rapid pace.
Gallagher Bassett makes acquisition
Gallagher Bassett Services Inc., the claims management unit of Arthur J. Gallagher & Co., has acquired Pleasantville, New York-based Terrier Claims Services Inc. and its affiliate MT Investigations LLC.