Risk Management News

German Soccer Club Insured for Revenue Losses; Policy Led by Catlin, XL

Borussia Dortmund is using an unusual insurance policy to recover most of the income it is losing for failing to qualify for European soccer’s elite Champions League for the first time in five years, according to two people with knowledge of the …

Swiss Re Corporate Solutions & IBM Offer Protection Against Cyber Attacks

Swiss Re Corporate Solutions joins forces with IBM Security to provide advanced cyber risk protection products and services to companies worldwide, aiming to help businesses defend themselves against increasingly sophisticated cyber attacks. The IBM-Swiss Re Corporate Solutions agreement combines IBM’s …

Guy Carpenter Launches G-CAT® Canada Flood Model

Guy Carpenter launched its G-CAT® Canada Flood Model, which it describes as the first ever probabilistic flood model for Canada that enables insurers to assess their exposure to flood, Canada’s most frequently occurring natural hazard. Large areas of Canada experience …

5 Tips to Help Risk Managers Address the Sharp Drop in Oil Prices

Oil and gas companies, as well as service contractors, manufacturers, distributors, transportation companies and any entity that supports the energy complex including, local banks, construction firms and real estate markets in oil towns across the country, are in the midst …

RMS Releases Updated Europe Windstorm, North Atlantic Hurricane Models

RMS, the Newark, Calif.-based catastrophe risk management firm, has released updated RMS Europe windstorm models and North Atlantic hurricane models. The 15.0 RMS® Europe Windstorm Models’ hazard and vulnerability components have been updated to strengthen risk selection and portfolio management …

XL Launches Security Insight Platform to Identify Global Business Risks

XL Group’s kidnap & ransom underwriting team has announced the launch of its new Global Security Insight (GSI) platform. Created and frequently updated by Salamanca Group, the merchant banking and operational risk management business, the global platform provides XL Group’s …

Germanwings Crash Shows Need for Protections Against Suicidal Crew Members

The suspected intentional destruction of a Germanwings jet by a pilot shows the need for new protections against suicidal crew members, a threat emerging as one of the worst in modern aviation, accident investigators say. With French prosecutors saying the …

Shipping Losses Down in 2014 But New Threats Loom: Allianz

Shipping losses declined to 75 during 2014, a 32 percent drop from the previous year and well below the 10-year loss average of 127, according to Allianz Global Corporate & Specialty SE’s (AGCS) third annual Safety and Shipping Review 2015. …

UK Report Highlights Role of Insurance in Managing, Mitigating Cyber Risk

Last year 81 percent of large UK businesses and 60 percent of small companies suffered a cyber security breach. In response to this increasing threat, a report published by the UK government and Marsh, one of the UK’s leading insurance …

ACE Strengthens Casualty Offering for Multinational Activities of Canada Firms

ACE Group says it is strengthening its global primary casualty offering with an expanded service platform designed to protect the multinational business activities of Canadian companies. ACE Risk Management Global Casualty is providing a dedicated team of underwriting professionals and …