Risk Management Magazine (7/20/2021)
Historically, risk was financed and transferred through guaranteed cost insurance. But within the last 40 or 50 years, the use of alternative risk transfer (ART) emerged as an option for businesses looking for different means of transferring as well as financing risk.

Insurance Journal (7/20/2021)
Noting that wildfire is a growing source of loss for both wind and solar power producers and insurers, one of the insurers is urging the U.S. solar industry to act to mitigate wildfire risk over the coming months or face the possibility of significant losses this summer.

Property Casualty 360 (7/20/2021)
Insurance-related fraud has impacted close to 30% of Americans, with younger generations more disproportionally affected by the fraud, a new report finds.

Commercial Risk Online (7/21/2021)
Sustainability is becoming a bigger and bigger topic for risk managers, particularly in Europe, who are increasingly factoring ESG behavior at insurers into buying decisions, Linda Freiner, group head of sustainability at Zurich Insurance, told Commercial Risk Europe.

Canadian Underwriter (7/20/2021)
Brokers can foresee cyber pricing doubling over the next year — and it could take up to two years after the pandemic is over before the market shows signs of softening again.

Asia Insurance Review (7/21/2021)
The Confederation of Indian Industry (CII) says that India needs to expedite the establishment of a pandemic pool to counter the economic impact of COVID-like situations in the future.

Commercial Risk Online (7/19/2021)
Marine rates have continued to harden in the first half of 2021, although hull and machinery underwriters seeking rises of 10% and higher are under pressure to settle for more modest rate increases on clean renewals, according to Gallagher’s latest sector report.

Insurance Journal (7/21/2021)
Insured losses from natural disasters hit a 10-year high of $42 billion in the first half of 2021, with the biggest loss related to extreme cold in the United States in February, insurance broker Aon said on Wednesday.

Canadian Underwriter (7/20/2021)
A property insurer can be stuck paying out on a claim even though the client made a “material omission” on their insurance application, but the industry can mitigate this risk by being especially careful when taking applications over the phone or online, a Vancouver insurance lawyer suggests.

RIMS-CRMP Stories
Orange County RIMS Chapter President Charles Vu already has amassed several achievements during his young risk career. One highlight was earning his RIMS-CRMP certification, which continues to bolster his professional profile and help him establish a presence as a leader.

 

RIMS Webinar
Attend this webinar on July 29 to learn about common challenges and opportunities to better manage/maintain high-quality data on your properties. Our presenters will examine why this data matters, both for risk management and risk transfer use cases; and how superior data can improve your insurance outcomes.