risk mitigation News

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 …

Canopius Group Appoints Lobo as Head of Upstream Oil & Gas Engineering

Zurich-headquartered Canopius Group AG announced the appointment of Francis Lobo as head of Upstream Oil and Gas Engineering, effective immediately. Lobo will report to Steve Warren, Group Head of Energy & Engineering, and will be working with the company’s team …

Zurich Canada Issues ‘White Paper’ on Drones & Risk Management

Zurich Canada has released a new white paper on unmanned aircraft systems (UAS), commonly referred to as drones at the Risk and Insurance Management Society (RIMS) Canada Conference in Qu├ębec City. Entitled, “Hovering Over Opportunities: Managing risk with drones, and …

UK’s Allianz Insurance Partners with Pentura to Provide Cyber Risk Services

Allianz Insurance has joined forces with cyber risk management company, Pentura, to provide commercial customers with help and guidance to improve cyber security. As part of the partnership, Pentura, which is based in Reading, England, will provide Allianz Commercial policyholders …

Number of Food Recalls and Their Costs Are Increasing: Swiss Re Report

“Food manufacturers operate in a vast, globalized supply chain, where one mislabeled product or contaminated ingredient can cause sickness, death, multi-million dollar losses and massive reputational damage for the affected companies,” says a new report – Swiss Re’s “Food Safety …

Swiss Re Corporate Solutions & IBM Offer Protection Against Cyber Attacks

Swiss Re Corporate Solutions joins forces with IBM Security to provide advanced cyber risk protection products and services to companies worldwide, aiming to help businesses defend themselves against increasingly sophisticated cyber attacks. The IBM-Swiss Re Corporate Solutions agreement combines IBM’s …

New York Requires State Agencies to Consider Extreme Weather

New York state agencies are required to consider the future likelihood of extreme weather in their decisions on public works projects, industrial and commercial permits and regulations, according to a new law signed Monday. For New York, those calculations include …

New York’s Staten Island Gets $56M to Control Future Flooding

New York officials say $33 million in federal Sandy relief will be going toward the purchase of about 24 acres on Staten Island to control future flooding. Sen. Charles Schumer and New York City Mayor Bill de Blasio announced the …

Willis’ Casualty Head Comments on Inflow of New Capital for Casualty Re Market

Capital is pouring into the casualty reinsurance market from both traditional property catastrophe reinsurers looking to offset rate reductions in their own sphere, and now also from the capital markets, according to Andrew Newman, Global Head of Casualty at Willis …

Long Island, N.Y., Residents Asked to Take Disaster Survey

A Long Island, N.Y., politician is asking residents to take an online survey to help officials update their plans for dealing with storms and other natural disasters. Huntington Town Supervisor Frank Petrone sent a request out Monday. Huntington is working …