The Risk & Insurance Management Society Inc. said Tuesday it has amended the vaccination policy for its annual conference and exhibition next month in San Francisco to align with recent COVID-19 policy changes made by the city’s health department. The RISKWORLD conference is scheduled for April 10-13.

PBS News (2/27/2022)
Russian President Vladimir Putin’s implied threat to turn the Ukraine war into a broader nuclear conflict presents President Joe Biden with choices rarely contemplated in the atomic age, including whether to raise the alert level of U.S. nuclear forces.

Insurance Journal (2/28/2022)
Russia’s invasion of Ukraine could add to inflationary pressures and will likely have a substantial impact on the global insurance industry, said AM Best. The rating agency Friday said efforts by the global central banks and the U.S. Federal Reserve to contain inflation will be challenged. Plus, sanctions may have “severe knock-on effects” on oil and commodity prices as well as tourism and the economies of some of the world’s less resilient countries.

Commercial Risk (3/2/2022)
Russia’s invasion of Ukraine is already having a significant impact on global trade as the corporate world isolates Russia from the international business community. As Russian troops continue their advance, freight transport services to the Ukraine are at a virtual standstill. Experts warn that the costs of the conflict will impact countries from many parts of the world, even if they have no business in eastern Europe.

PropertyCasualty360 (3/2/2022)
Like many other industries today, the workers’ compensation industry is constantly evolving. As the world continues to adapt and change during the ongoing COVID-19 pandemic, several of the workers’ compensation trends seen over the past two years will continue to play a role throughout 2022.

PropertyCasulaty360 (3/1/2022)
Overall fund transfer fraud (FTF) losses increased 69% from 2020-2021, according to claims data from Coalition, Inc. The frequency of these cybercrimes grew 21% for companies with less than $25 million in annual revenue and 68% for those with $25 million-$100 million in revenue during the period.

Canadian Underwriter (3/2/2022)
Public auto insurer Saskatchewan Government Insurance (SGI) is the latest insurer to offer auto insurance clients the choice of no sex (blank) designations.The change will not affect SGI Canada customers in Saskatchewan, since gender or sex designation is not used as a rating factor for auto policies, Heather Hubic (Anderson), a media relations communications consultant for SGI tells Canadian Underwriter.

Asia Insurance Review (3/2/2022)
The Philippine insurance industry has paid a total of PHP16.7bn ($325m) on COVID-19-related claims in the period between the start of the pandemic in March 2020 and the end of 2021.

Canadian Underwriter (2/28/2022)
Data automation has created an emerging risk: AI can develop unintended biases within its own data that can yield unfair results and potentially harm a client’s business.

Forbes (2/28/2022)
The Covid-19 crisis put a lot of pressure on businesses and caused big disruptions in the global business sector. Because of the lockdowns and restrictions, businesses were faced with serious operational and financial challenges. As business leaders continue to navigate uncharted waters, I don't think it has ever been so crucial for businesses to cater to the needs of customers, clients and staff. 

RIMS Webinars
Attend this new webinar on March 10 to learn about emerging trends in solar, wind, and energy storage. Our presenters will also explore the dangers of the “rush to green,” how underwriters view renewable energy risks and more.

 

 

RIMS Mobile App
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