Insurance Business (2/24/2020)
"Disruptions will not only be confined to the retail industry, with parties in the maritime sector already seeing the effects." Those were the words of Jonathan Moss, head of marine and trade at UK-headquartered law firm DWF, while shining a spotlight on the repercussions of COVID-19 on the shipping insurance industry.

Risk Management Magazine (2/3/2020)
As businesses know, a network failure can shut down operations for extended periods of time and data breaches can expose customer information to third parties, potentially subjecting the breached company to class action litigation and regulatory penalties.

Insurance Journal (2/26/2020)
The coronavirus has not only sickened tens of thousands of people, killed several hundred, and disrupted life for millions, but has also sharply impacted the second-largest economy in the world.

Property Casualty 360 (2/21/2020)
A recent Society of Actuaries survey found that climate change was the top emerging risk cited by respondents, and the most recent "Weather, Climate & Catastrophe Insight" report from Aon finds that natural disaster events resulted in economic damage of $232 billion in 2019, of which only $71 billion was covered by insurance.

Commerical Risk (2/26/2020)
Australian citizens and insurers are bracing themselves for another week of catastrophic losses as former Tropical Cyclone Esther tracks an unpredictable path across northern Australia and could re-intensify later in the week, according to the Bureau of Meteorology which described it as "a remarkable system."

Risk Management Magazine (2/12/2020)
Until about two or three decades ago, customer profiling in financial institutions primarily meant gathering details around identification, address verification and occupation of retail customers.

Property Casualty 360 (2/20/2020)
An increasingly volatile recipe of climate change and urbanization means that the past is no longer representative of the future when it comes to wildfire risk.

Canadian Underwriter (2/17/2020)
Rates for excess cyber insurance in Canada are on the rise. "In Canada, I would say what we are seeing is excess cyber insurers increasing rates," Brian Rosenbaum, national director of the legal and research practice at Aon Risk Solutions, said in an interview Thursday.

Commercial Risk (2/18/2020)
The oil, mining, metals and extractive industries continue to make up the largest proportion of demand for credit and political risk insurance (CPRI) coverage, according to BPL Global, a CPRI broker.

Bloomberg / Insurance Journal (2/26/2020)
Singapore has a reputation for planning ahead. When it comes to climate change, it’s planning for the worst. While governments around the world are struggling to meet the goals of the Paris agreement... Singapore is devising a S$100 billion ($72 billion) plan to safeguard the city against temperatures and floodwaters several times those levels.

Dr. Joseph Milan has been teaching and developing educational workshops for RIMS for more than ten years. He is an internationally recognized risk management professional with extensive experience in the design and implementation of enterprise risk management (ERM) programs. As principal of JA Milan and Associates, Joseph helps ERM clients with the design, implementation and continuous improvement of ERM programs. He will lead our upcoming Applying Enterprise Risk Management Theory workshop in Denver this May.

The RIMS Benchmark Survey tracks the year-over-year changes in the insurance marketplace. It provides the only independent, fact-based review of the cost of risk to insurance purchasers - unbiased by the brokers or insurers involved. The 2019 Survey collected data from 16,000+ insurance programs and represented more than $3.95 billion in premium. The Survey showed increased TCOR across several lines of coverage. What will 2020 show? Contribute your data to find out.