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Today's Feature
Risk Management Monitor (8/29/2019)
The first Atlantic hurricane of the season is rapidly approaching the mainland United States, with experts currently expecting Hurricane Dorian to make landfall in Florida on Sunday. For businesses both in the storm's path and beyond, it is important to take the opportunity to consider how to protect property from hurricane damage before and after storms.
Industry News
Property Casualty 360 (8/27/2019)
According to the Federal Aviation Administration, 2.85 million small drones could fill the sky by 2022, and 450,000 of them will be used for commercial purposes. With a multitude of market opportunities, drones are providing insurers with capabilities that were never before thought possible -- but in addition to the benefits, drones are also presenting insurers with a number of potential risks and exposures.
Insurance Journal (8/28/2019)
State biometrics laws, a new ransomware threat and the targeting of financial institutions are among the recent trends in cyber risks, according to insurer Chubb in a new report. The insurer cites a recent surge in lawsuits over biometric privacy.
Risk Management Monitor (8/28/2019)
This week, a judge in Oklahoma ordered pharmaceutical company Johnson & Johnson to pay $572 million for its role in the opioid crisis that has ravaged the country and killed more than 6,000 people in Oklahoma alone. The ruling is the first to hold a drug manufacturer responsible for the crisis, which was fueled by companies flooding the market with addictive painkillers and pushing doctors to overprescribe the drugs.
Channel Futures (8/27/2019)
Despite increasing cyberthreats, SMBs are expected to do more with less when it comes to IT security implementation, and many have less to spend this year than last year. That's according to Untangle's second-annual SMB IT Security Report, which examines the current state and trends of IT security of more than 300 SMBs globally, compiling data on budget and resource constraints, breaches, IT infrastructure, cloud adoption and more.
Canadian Underwriter (8/29/2019)
Forget everything you know about insurance. That's what the insurance product of the future will look like, says Tim Attia, CEO and co-founder of New York City-based Slice Labs. "Insurance will have to be like Spotify," Attia said, referring to the audio streaming service. "You just register and you're protected. You can't come to the table with standard insurance products."
Risk & Insurance Magazine (8/29/2019)
After a tragic accident or death, memories of the event can linger in the form of PTSD. Witnesses can be bombarded with nightmares that disrupt their sleep or flashbacks that leave them afraid to go near the site of the incident.
Insurance Business Magazine (8/30/2019)
Engineering and construction projects around the world have experienced significant growth spurts in recent years. Project sites are now much larger, more expensive and much more complex, meaning more is at stake if things go wrong. According to Allianz Global Corporate & Specialty (AGCS), there are several major trends driving large losses in engineering and construction projects worldwide. Rims Resources
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