Risk Management Magazine (11/5/2024)
After several years of declining attacks, companies have started to see an increase in payment fraud, with fraudsters most commonly targeting checks and ACH debits. According to the 2024 Payments Fraud and Control Survey Report by the Association of Financial Professionals (AFP), the prevalence of attempted and actual payment fraud among organizations jumped to 80% in 2023 from 65% the year before, marking the end of a steady decline from a high of 82% in 2018.

Insurance Journal (12/6/2024)
Ransomware attacks rose by 70% in 2023 compared to the previous year, and as many small companies set their cybersecurity policy limits at $1 million, they are losing significant amounts of money.

Carrier Management (12/12/2024)
Losses caused by wildfires have exceeded $60 billion in the past decade, and Congress is considering bipartisan actions to combat their growing threat.

Business Insurance (12/10/2024)
The Intermediate Court of Appeals of West Virginia denied a workers compensation claim from a university hospital worker who wanted their initial claim to be expanded to include long-term health issues they said came from long COVID-19.

Reinsurance News (12/12/2024)
Experts predict that cyber risk will increase in 2025 as criminals adapt their tactics to penetrate better corporate cyber defences and make use of advances in artificial intelligence.

Risk & Insurance (12/10/2024)
Cowbell’s 2024 Cyber Roundup Report found that manufacturing companies and supply chains have the greatest exposure to cyber risk across all industries.

Insurance Business Magazine (12/6/2024)
Investors are increasingly performing environmental, social and governance due diligence to ensure that there are no liabilities or potential risks.

Canadian Underwriter (12/11/2024)
Environment and Climate Change Canada released its list of the most impactful weather events that occured in Canada in 2024, which includes the Jasper wildfire that caused $880 million in insured damages.

Strategic Risk (12/11/2024)
Artificial intelligence allows risk managers to analyze data and identify risks signficantly faster than before, and its impact will only continue to grow in the coming years.

RIMS President’s Message
From exceptionally well-attended conferences to the outstanding progress made with the RIMS-CRMP certification, RIMS President David Arick reflects on the successes of 2024 and thanks the RIMS community for diving in.

RIMS Virtual Workshop – December 17-18
Captives offer benefits such as stabilization of costs, ability to earn investment income, access to coverage not available in the market and improved claims handling and risk control, among others. This workshop dives deep into the opportunities and risks associated with captive formation and use, and how alternative risk financing can support your organization’s goals.

 

 

 

 

RIMS Executive Report, Sponsored by AuditBoard
Effective data security is not solely an internal matter; it extends to the policies and practices of third-party partners. AuditBoard’s new 2024 CyberRisk Alliance survey report highlights the critical importance of managing third-party risk in today’s enterprise IT landscape.