loss prevention News

Reuters: Rite Aid Deployed China-Linked Facial Recognition in Poor Neighborhoods

Over about eight years, the American drugstore chain Rite Aid Corp quietly added facial recognition systems to 200 stores across the United States, in one of the largest rollouts of such technology among retailers in the country, a Reuters investigation …

Arizona Flood Control Project Receives Federal Funding

Flagstaff, Ariz.’s mayor hailed a federal agency’s commitment of $52 million for a major flood control project, saying it will protect the northern Arizona city from potentially catastrophic effects of flooding from storm runoff while promoting economic development of currently …

The Lowdown: What Heat Can Show Us

According to the U.S. Fire Administration, over 22% of non-residential fires are caused by electrical malfunction, heating or other equipment malfunctions. There are a number of reasons for this, including deferred maintenance, poor installation, unintended overload, corrosion and age. As …

Every $1 Spent in Hurricane Protection Lowers Property Loss Exposure by $105

Every $1 a business spends on hurricane protection reduces loss exposure by an average of $105. That’s based on an analysis by global commercial and industrial property insurer firm FM Global, which reviewed loss and mitigation information from thousands of …

Safety National Introduces Safety First Grant Program

Safety National Casualty Corp., a provider of excess workers’ compensation and large casualty offerings, has introduced the Safety First Grant Program. This dollar-for-dollar matching grant will reimburse one policyholder up to $10,000 for a creative program designed to reduce the …

Hill Named VP of Loss Prevention at Texas Mutual Insurance

Austin-based workers’ compensation insurance provider, Texas Mutual Insurance Co., has named Woody Hill its vice president of loss prevention. Hill will oversee the company’s ongoing initiative to deliver strategic workplace safety services that meet each of its 57,000 policyholders’ unique …

Europe 9 Month Nat Cat Losses $23 Billion+; Trending Upwards: Munich Re

A report from Munich Re estimates that losses due to natural catastrophes totaled €17 billion [$23.24 billion] in Europe in the first nine months of 2013, “dominated by flood losses, which accounted for a share of 75 percent.” The world’s …

Chubb to Provide Loss Prevention Guide for Directors Dealing with M&A Litigation

The Chubb Group of Insurance Cos. has created a new loss prevention guide aimed at assisting directors and officers in preparing for litigation if their firm engages in a merger or acquisition. “Merger and acquisition activity is up, and many …

XL Insurance Combines Property, Asset Protection; 6 Engineering Heads Named

XL Group plc’s Insurance segment has combined its Property Underwriting and XL Global Asset Protection Services (XL GAPS) engineers to form one unified team, which consists of “nearly 200 risk engineers worldwide.” XL said its goal is to “efficiently direct …

Steamship Mutual to Launch ‘Piracy Menace’ Loss Prevention DVD

London-based Steamship Mutual, a leading P&I Club, announced the imminent launch of its latest Loss Prevention DVD entitled “PIRACY – The Menace at Sea”. The Club described the current piracy situation as a “wholly unacceptable threat to merchant shipping and …