Risk Management Magazine (8/1/2022)
Earlier this year, the U.S. Securities and Exchange Commission (SEC) proposed rules for publicly traded companies governing the disclosure of climate-related risks. The proposal would require publicly traded companies to disclose their organization’s greenhouse gas (GHG) emissions and the GHG emissions related to the energy and electricity they purchase.

Business Insurance (7/12/2022)
In the 30 years since Hurricane Andrew ripped through southern Florida in 1992, the U.S. has endured multiple storms that caused more damage than Andrew, but it was the earlier storm that alerted insurers and businesses to the potential for such large losses and transformed property underwriting and risk management.

Reuters (8/4/2022)
According to a new report from Gallagher Re, global investment in insurance technology firms totaled $2.41 billion in the second quarter, down 50% from a year prior. However, insurtech investment picked up slightly from the first quarter, gaining 8%, the report showed.

Insurance Journal (8/04/2022)
The London insurance sector is preparing to cover Ukrainian grains and fertilizer shipments through a secure corridor. According to industry sources, these voyages may need up to $50 million of insurance cover per cargo. London’s marine insurance market has placed the Black Sea region on its high-risk list and insurance costs have soared.

Carrier Management (7/28/2022)
Reinsurer SCOR reported a first-half loss attributed to the war in Ukraine, natural catastrophes and the severe drought in Brazil. The H1 loss of $242.6 million, compares with net income $385.8 million reported during the same period in 2021.

Insurance Journal (8/03/2022)
Independent agency sale transactions are continuing at a strong pace in 2022. Some agency principals are preparing to sell their firm either to an outside or an inside buyer. Agency principals may perceive an outside sale as more lucrative than a perpetuation, but is an internal offer really worth less than an external?

Reuters (7/29/2022)
In a new advisory, the Federal Deposit Insurance Corporation (FDIC) is urging banks dealing with cryptocurrency companies to make sure customers know which of their funds will be insured by the government in case of collapse, and which have no safety net. The push comes as broad turmoil in the crypto market has led to the collapse of some high-profile firms.

Insurance Business Magazine (8/04/2022)
Hockey Canada has come under criticism across Canada over its use of a “sex abuse fund” part paid for by membership fees, throwing self-insurance under the spotlight. After assault allegations were made against former players in May, the organization has faced criticism from Prime Minister Justin Trudeau and had its federal funding frozen.

PropertyCasualty360 (7/29/2022)
Successful property fraud prosecutions have increased 148% in Florida in the past 12 months. The increase comes as a result of two property insurance fraud investigation squads that were established by the Florida legislature in 2021, which have also led to a 55% increase in arrests and a 129% increase in successful property fraud prosecutions across the state.

RIMS Webinar
As your program evolves, the need to simplify the risk assessment process becomes unavoidable. In this webinar on August 11, we’ll review risk assessment best practices through the lens of modern-day technology that can help alleviate the manual and subjective nature of risk assessments. This webinar is sponsored by OneTrust.

RIMS Virtual Workshops
Advance your risk management expertise and learn with your peers in an interactive, virtual environment. Whether you want to improve your enterprise risk management strategy, develop a risk appetite framework, or improve your understanding of captives, our virtual workshops will help you successfully reach your goals.