Risk Management News

A.M. Best Report: ‘Grey Swan’ Risks Can Affect Balance Sheets, Ratings

A new special report from A.M. Best discusses the need for non-life and life insurers to address threats called “grey swans,” the low-probability, high-severity events that have the potential to impair balance sheets and lower financial strength ratings. “Although some risks do …

Aon Report Identifies Key Risks for Financial Institutions in EMEA

Understanding and managing risk is increasingly a critical success factor for financial institutions, according to a report on financial institutions issued by Aon Risk Solutions, the risk management business of Aon plc. Entitled “2014 EMEA Financial Institutions Industry Report,” the …

Companies May Need to Disclose Fossil-Fuel Exposure: UK Energy Secretary

U.K. Energy Secretary Ed Davey called for a debate on forcing companies to disclose their exposure to fossil fuels so that investors know the risks they face as cleaner forms of energy are required. “There’s a case for making it …

Nationwide, Hartford Steam Boiler Offer Cyber Cover for Small Business Owners

As more than half of all U.S. small businesses have experienced a data breach, Nationwide has joined forces with Hartford Steam Boiler (HSB) to offer cyber insurance coverage for small business owners. The services and coverages help small businesses respond …

New Malware Called ‘Regin’ Targets Firms in at Least 10 Countries

An unidentified nation may have developed a “highly complex” surveillance tool that targeted companies and other victims in at least 10 countries including Russia and Mexico, Symantec Corp. researchers said. The tool, a malware dubbed “Regin,” has been been used …

ACE Report Urges Risk Managers to Reexamine Capabilities of Insurer Partners

ACE urged risk managers at multinational European companies to reexamine the capabilities of their global insurance partners as the international regulatory and business environment grows increasingly complex. The recommendation follows recent ACE research, which suggests that 70 percent of European …

Aon Hewitt’s CIO Named on Computerworld Premier 100 IT Leaders’ List

Aon plc, the provider of risk management and human resource consulting and outsourcing, announced that Matthew Heckler, chief information officer for Aon Hewitt, was named to IDG’s Computerworld Premier 100 IT Leaders’ list for 2015. The list spotlights 100 leaders from both the technology and business …

Eight P&C Insurers Get Top Marks for Climate Change Risk Management

Munich Re and ACE Ltd. are among insurers that are best prepared to manage risks related to climate change, a lobbying group said. The nine insurers that were found to be integrating climate change into underwriting and investments also included …

Guidance on EU Rules Created for Audit, Risk Committees

The Federation of European Risk Management Associations (FERMA) and the European Confederation of Institutes of Internal Auditing (ECIIA) have responded to increased EU requirements for more corporate transparency with a new joint guidance document on the 8th Company Law Directive. Audit …

LSU Flagship Campus Authorized to Buy Its Own Insurance

Lawmakers have given Louisiana State University (LSU) the authority to leave the state-run insurance program and buy its own coverage in a first-of-its-kind arrangement for a Louisiana public college. University System President F. King Alexander said the move could save …