Risk Management News

Gas Leak at LG Chem Plant in India Kills at Least 7, Forcing Evacuation of Thousands

An overnight gas leak at an LG Chem Ltd. polymer plant in southern India has killed at least seven people and forced the evacuation of thousands in the city of Visakhapatnam after the company tried to restart operations following the …

Many Japan Firms Resist Telecommuting, Raising COVID-19 Risk for Call Center Staff

Almost a month after Tokyo declared a state of emergency, dozens of call center employees for telecom KDDI Corp still commute into their crowded office, where the fear of coronavirus infection has taken a back seat to data security. Call …

AXA XL Launches Virtual Risk Assessment Service Called ‘Remote Risk Dialogue’

AXA XL Risk Consulting has launched a new risk assessment service, Remote Risk Dialogue, to continue evaluating loss prevention across business lines amid COVID-19 restrictions. Using data captured from telephone calls, web tools and existing reports, Remote Risk Dialogue enables …

6 Ways Insurance Brokers Can Be a Resource to Clients During COVID-19 Crisis

Risk managers at companies of all kinds have been forced to rapidly evaluate how the coronavirus pandemic is affecting their businesses. They’ve had to react quickly with limited information while trying to forecast future developments. At the same time, they …

Pandemic Crisis Story: Moving 1000-Plus Employees in 7 Countries in Just 2 Weeks

Amit Tiwari, chief operating officer at Xceedance, the Boston-based insurance consulting, managed services, and insurtech company, explains the challenges of enabling business continuity plans in the face of a global pandemic and moving an international workforce of well over a …

European Risk Mgmt Group FERMA Supports National Backstops for Future Pandemics

The Federation of European Risk Management Associations (FERMA) support the development of government backstops to increase financial resilience against future pandemic risks – similar to what already exists in many countries for terrorism and natural catastrophes. While many European businesses …

Australia’s Westpac Expects $578M Fine for Money Laundering Linked to Child Abuse

Australia’s Westpac Banking Corp said it expects a A$900 million ($578 million) fine over accusations it enabled millions of illegal payments including between known child sex offenders, the first time it has put a price on the scandal. The country’s …

Van Gogh Theft Focuses Attention on Empty Museums’ Security During COVID-19 Crisis

The break-in lasted just minutes. At 3 a.m. on Monday, a thief — or thieves — forced open the glass doors of the Singer Laren museum in the Netherlands and headed straight for its prize exhibit: a Van Gogh oil …

Stresses of COVID-19 Hit Businesses, Their Insurers, so Partnership Is Needed: FERMA

The Federation of European Risk Management Associations (FERMA) has called for enhanced understanding of the insurance needs of European businesses to help them get through the pandemic and recover afterwards. “Many companies are under great pressure as a result of …

Uber Drivers Take Backseat in Clash Between Safety and Customer Privacy

Margaret Bordelon can still feel the hands of the drunk man who tried to pull her in for a kiss at the end of his Uber ride last September in Lafayette, Louisiana. An Uber driver for only a few months, …