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| RIMS.org | RM Magazine | Risk Knowledge Library | RIMScast | RISKWIRE Archive | ||||||
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Today's Feature
Insurance Business Magazine (3/11/2019)
The way we move today looks markedly different than it did a few years ago. It's not only the fact that cars are changing, with the implementation of sensors and autonomous capabilities, but also the way that people are using vehicles that's causing a shift in the understanding of risk, which in turn is keeping insurance professionals on their toes.
Industry News
Risk & Insurance Magazine (3/7/2019)
Employers are using fitness tracking devices like FitBits and Apple Watches to monitor employee health data, which, in turn, is fueling a boom in the amount of health information available to insurance companies and employers.
Insurance Journal (3/12/2019)
Democratic and Republican lawmakers on Tuesday pressed Wells Fargo & Co Chief Executive Tim Sloan for proof the bank has put a string of consumer abuse scandals behind it at a tense congressional hearing that saw Sloan firmly on the defensive. While Sloan struggled to convince skeptical lawmakers that Wells Fargo has transformed its culture, he managed to navigate a hostile committee without a major stumble that would have compounded doubts about his leadership.
Risk.net (3/12/2019)
Data compromise has topped Risk.net's annual Top 10 Op Risks survey for 2019, swapping places with last year's top risk, IT disruption. The former is now seen, albeit narrowly, as a bigger hazard by financial institutions wary of the combined threat of data loss, reputational damage and mega-fines from regulators under draconian new data protection laws.
Risk & Insurance Magazine (3/12/2019)
Tech companies like Facebook and Google could soon be facing billions of dollars in fines from the British government for having harmful content on their channels and failing to properly protect users. Business Insider got the scoop from the UK’s digital minister, Margot James.
The National Law Review (3/10/2019)
Is malware war? Are losses arising from malware excluded from your property insurance policy? These are questions businesses should consider. There are, of course, policies specifically written to cover cyber breaches and other data security incidents. But, these types of policies are, indeed, different from property policies. Even if both types of policies contain similarly named/titled terms, conditions, and exclusions, they intend to cover different risks and their language can be different.
American Banker (3/12/2019)
Over a seven-year period, a new industry has given rise to 3,300 new firms, increased their financing thirteenfold to $22 billion and increased their percentage of the personal loan market from 1% to 36%. The new entrant -- fintech. From marketplace lending, to person-to-person payments, to insurance, the financial services industry is undergoing an intense period of disruption and rapid, transformative change -- most of which can be good news for consumers and competition.
Business Insurance (3/12/2019)
Diagnostic errors were the leading type of claims against primary care physicians from 2013 through 2017, says medical liability insurer Coverys, in a report issued Tuesday. Other leading causes of malpractice claims include diagnostic allegations, medical treatment, medication and transitions in care, according to the report Red Signal Report, Claims Data Signals and Solutions to Reduce Risks and Improve Patient Safety, Patient Care... Rims Resources
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