Risk Management News

California Earthquake Risk: New Science is Transforming the Way Earthquake Risk is Managed

This post is part of a series sponsored by CoreLogic.  Recent changes in earthquake hazard science in California are transforming the way we think about managing earthquake risk. The Uniform California Earthquake Rupture Forecast (UCERF) is a multi-year project by …

Aon Launches Cyber Risk Mgmt Solution in Response to EU Data Protection Law

Aon plc has launched a risk management solution designed to help organizations prepare for a new data protection law due to come into force on May 25, 2018. The law, known as the EU General Data Protection Regulation, or GDPR, …

Corporations Have ‘Alarmingly High’ Failure Rate with Their Cyber Defenses: Accenture

About one-third of targeted attempts to breach corporations’ cyber defenses succeed but three-quarters of executives remain unaccountably confident in their security strategies, Accenture Plc. reported Wednesday in a survey of 2,000 security officers representing large enterprises worldwide. The “alarmingly high” …

Insurance Industry Urged to Weigh Shift to Intangible Risks

Panelists at a recent New York event hosted yesterday by Lloyd’s, the world’s specialist insurance market, and the American Security Project, a nonpartisan national security think-tank, urged the insurance industry to plan ahead and work to better understand how to …

International Shipping Lanes Could Be at Risk from Escalating Yemen Conflict

Missile attacks from Yemen on Western military craft risk spilling over into nearby busy sea lanes which could disrupt oil supplies and also other vital goods passing through the tense area, shipping and insurance sources say. While shipping companies have yet to …

Business Interruption Tops List of Risks Facing Global Organizations: Survey

Business interruption, property damage and general liability are the top three risks faced by businesses, non-governmental organizations and governmental agencies operating outside the U.S., according to the Summer/Fall edition of “Clements Worldwide Risk Index.” In fact, business interruption and property …

Hanover Stone Partners Adds 3 to Midwest Risk Management Team

Risk management services firm Hanover Stone Partners has appointed Katherine Smith Dedrick, William M. Goddard, and David A. Seibert as senior risk advisors in the Central United States. Based in Chicago, Dedrick is an accomplished insurance attorney and risk consultant. …

Goodwin Joins MJ Insurance in Indiana

MJ Insurance has added Ryan Goodwin to its risk management and commercial insurance team in Indiana. Goodwin joins MJ from Morgan Insurance Group in Martinsville where he worked for the past five years. Previously, Goodwin served as a police officer …

Good Risk Management Is Just Good Business: Steel, Former CRO of AXIS Capital

Companies originally created the role of the chief risk officer because they “recognized that good risk management is really good business,” according to Michael Steel, former CRO at AXIS Capital. The role of CRO is a relatively new one for …

Mid-Market Firms Fall Short on Natural Catastrophe Risk Management: Assurex Global

Middle market businesses in all parts of the world view their exposures to natural catastrophes as increasing but some fall short when managing these risks effectively, according to a new survey of senior executives at more than 80 independent insurance brokers. The survey …