Risk Management News

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 …

Natural Disasters Could Cost $750 Billion Annually in 15 Years: AIR Study  

Economic losses from global natural catastrophes likely will triple over the next 15 years, unless steps are taken to reduce bad development choices, according to preliminary results of a catastrophe modeling study presented at the third UN World Conference on …

Canada Transport Watchdog to Introduce New Tank Cars Ahead of Schedule

Canada’s transportation watchdog said that recent fiery derailments of trains hauling crude oil mean a new generation of stronger tanker wagons should be introduced ahead of schedule. The Transportation Safety Board (TSB) is probing two accidents within the last month …

ACE Launches Mobile App for Europe-Based Business Travel Clients

ACE Group has launched ACE Travel Smart, a new mobile app, as part of its business travel insurance proposition for Europe-based businesses with international exposures. According to ACE research, 86 percent of European businesses say their reliance on business travel …

ACE Promotes Sedov as Head of Property Risk Engineering for Eurasia & Africa

ACE has promoted Andrey Sedov to the newly created position of head of property risk engineering for Eurasia and Africa, as the company continues to build its risk management capability for clients across its newest regional business and around the …

Canada Proposes Tough New Oil Tank Car Standards

Canada proposed tough new oil tank car standards on Wednesday and said even improved tank cars coming into service now would have to be off the rails by 2025 at the latest. The announcement comes after a rash of fiery …

RMS Study Shows Significant Tsunami Risk in Caribbean, Mediterranean

RMS, the catastrophe risk management firm, has released a global tsunami risk study that identifies more than 20 subduction zones worldwide capable of generating a giant earthquake and tsunami – similar in scale to the March 11, 2011, Tohoku, Japan …