Insurance Journal/Bloomberg (8/23/2019)
A newly created U.S. cybersecurity agency said Thursday that China represents the greatest strategic risk to the U.S., and as a result, the agency's top operational priority is reducing the risks from Chinese compromises to the global supply chain, including emerging 5G technology.

Risk Management Magazine (8/16/2019)
As a theory, combining governance, risk management and compliance seems to make perfect sense, especially given Open Compliance and Ethics Group's definition of GRC as "the integrated collection of capabilities that enables an organization to reliably achieve objectives, address uncertainty and act with integrity."

Risk & Insurance Magazine (8/26/2019)
The first illnesses started appearing in March 2018. A handful of people across the country checked themselves in to hospitals, sick from E. coli bacteria. At least 210 people in 36 states fell ill and five died. Investigators quickly identified romaine lettuce as the source of the outbreak but couldn't pinpoint the cause for months.

Property Casualty 360 (8/23/2019)
Real-world autonomous vehicles (AV) applications are arriving at our doorstep. Consider that Aptiv's self-driving BMWs are eclipsing more than 50,000 rides on the Lyft app in Las Vegas. What do these developments mean to driving risk and the future of the auto insurance industry?

Canadian Underwriter (8/28/2019)
Collision claims are approaching "a new era" of data collection, intensifying the debate between the insurance industry and vehicle manufacturers over who owns the data. Thanks to the advent of connected vehicles, data generated in these cars provide valuable information to insurance companies that must handle a claim -- including speed, traffic conditions, and passenger info.

Risk Management Magazine (8/1/2019)
Contract review and negotiation is a crucial risk management task, but sometimes we must accept terms we do not like for any number of ­reasons. Perhaps the client refuses to make changes to their form of agreement. Maybe the project is critical to your firm and your operations team is willing to take on the risk.

Property Casualty 360 (8/27/2019)
Much is written these days about "disruption in insurance" -- a welcome notion, indeed, in an industry that has stayed largely the same over the last 200 years. Insurance is definitely ripe for change. It's still essentially about capital placed against risk, and much of the pricing of insurance is still done based on historical data, which makes it challenging to provide pricing models for completely new products, like cybersecurity or other services.

Canadian Underwriter (8/28/2019)
A new strain of ransomware caught the attention of one cyber insurer after it experienced a surge in claims over the past few months. The Sodinokibi strain first came to the attention of specialist insurer CFC in April. Cyber criminals exploited a bug in Oracle WebLogic, a piece of software that servers use for running Java applications.

Insurance Journal (8/27/2019)
U.S. property/casualty insurers continue to face substantial underwriting losses on commercial automobile insurance and, following a statutory combined ratio of 108% in 2018, the segment is poised for a ninth consecutive year of underwriting losses in 2019, according to Fitch Ratings. Fitch said it anticipates only moderate results improvement this year.

Managing a claim means dealing with a loss that's already happened, so it makes sense that claims administration can be perceived as a reactive rather than proactive function. For that reason, the marketplace often treats third party administrators as a commodity. Third-party administrators (TPAs) can be seen as claim process workhorses. Give them a task, they get it done. For checking items off the to-do list, they are reliable partners. But is it possible to look to a TPA to be a consultative partner for long term change? Find out during this new webinar on September 19 with presenter Joel Raedeke, Senior Vice President at Broadspire US. This webinar is free for members and is sponsored by Broadspire, A Crawford Company.

Reservation of rights letters pose a significant challenge to an entity's ability to realize the full value of its insurance policies in covering its claims. While reservation of rights letters were developed in response to issues of "bad faith" in the conduct and coverage decisions made by insurers, interpretations in case law have refined the application and force of these documents. This report gives background of Reservation of Rights and discusses what to consider when deciding if, when and how to respond. It also includes examples of these notifications, response letters, while exploring claim limitations, communications strategies, litigation and conflicts of interest. Members can download this report for free from our Risk Knowledge library.