Risk Management Magazine (8/11/2022)
Russia’s invasion of the Ukraine has become a humanitarian crisis as millions of civilians flee the violence and thousands have been injured or killed. The invasion does not only have humanitarian implications, however—the impact has also been economic. The conflict has affected business in many ways, with more than 750 firms in North American and Europe suspending operations in Russia altogether.

Reinsurance News (8/26/2022)
According to RMS, Florida’s insurance market could struggle to respond to another Category 5 hurricane due to significant exposure growth, the impact of social inflation, and climate change complications. An event like Hurricane Andrew would bring insured loss for wind and surge in the range of $80 billion (GR) and $90 billion (GU), in which other non-modelled losses and social inflation could lead to a $100 billion event.

Associated Press (8/31/2022)
Record-breaking floods in Pakistan have killed more than 1,160 people since mid-June. On Tuesday, the United Nations and Pakistan issued an appeal $160 million in emergency funding to help the millions affected by the catastrophe. The U.S. government said it would provide $30 million in assistance to help victims of the flood.

Insurance Journal (8/31/2022)
According to experts at McKinsey & Company, inflation pushed loss costs for property/casualty insurers up an estimate of $30 billion last year, with nearly three-quarters of that figure coming through personal lines. Insurance executives play a role in planning for inflation’s effects on profitability and should orchestrate actions across pricing, underwriting, claims and other functions that will respond appropriately to different inflation scenarios.

PropertyCasualty360 (8/30/2994)
In their latest Global Threat Briefing, CyberCube identified companies utilizing Single Points of Failure (SPoF) tech in the Forbes 1000 group who are known targets of Russian state-sponsored APTs. SPoF are hot targets for attackers because once they have gained access to these points, they are then able to gain access to interconnected entities, creating a compromised infrastructure that allows for further cyberattacks, including espionage.

Insurance Journal (8/30/2022)
Psychosocial factors can predict delayed recovery and other adverse outcomes in patients with work-related injuries. In a recent white paper, the Workers Compensation Research Institute (WCRI) examines the correlations between a worker’s mental health and the time it takes to recover from a physical workforce injury.

Reuters (8/25/2022)
South Africa has the largest and most advanced insurance market in Africa, and is home to companies that account for over two-thirds of total premiums collected across the continent by insurers. Last week South Africa's competition watchdog said it had raided the country's top insurers over suspicions of potential price collusion on their products.

PropertyCasualty360 (8/31/2022)
When multiple lawsuits are filed and policy limits will be insufficient to settle all the claims or pay for all potential judgments, unique questions arise. While courts generally hold that insurers must act reasonably and in good faith when deciding to settle claims, how to best handle these scenarios depends on a variety of factors.

Reinsurance News (8/31/2022)
In a new report, the S&P Global Ratings say that while the demand for cyber risk protection is growing, the capacity for reinsurance in cybersecurity sector is not growing to meet the demands. At the same time, the conditions for insurance-linked securities (ILS) investors are improving after several difficult years due to a growing number of natural catastrophes.

RIMS Webinar
In this second installment of the Supply Chain Risk Management series on September 7, experts will explain production risk management issues that manufacturers face due to supply chain disruption in the current post-COVID global trade and legal environment.

RIMS Career Center
The RIMS Career Center enables employers to post jobs and offers an extensive resume database with user-friendly searching capabilities to help find the right candidates. Our Career Center also enables job seekers to find risk management job opportunities and plan your next career move. Your JobBank account is separate from your primary RIMS account and requires a separate login.