Risk Management Magazine (10/19/2022)
As the Russia-Ukraine war continues, many businesses have had to make adjustments based on the stakes they have in either or both of these countries. Risk managers at these organizations must assess the magnitude and quality of what could potentially go wrong if conditions persist, and create scenarios and mitigation plans for these risks.

Insurance Journal (10/19/2022)
“You don’t need a massive data collection to know that climate related losses have been increasing in recent years,” said Jimi Grande, senior vice president of federal and political affairs for the National Association of Mutual Insurance Companies (NAMIC). “What we need is effective public policy to better protect and prepare Americans for the next disaster.”

Reuters (10/20/2022)
Insurance for workers, journalists, and others heading to Ukraine is now more expensive than during the Iraq war. “Principally, it's a more active war zone rather than an insurgency situation. Instability caused by Ukrainian gains and the subsequent retaliatory actions of the Russian forces will have a further dramatic impact on costs," says Alexis Fehler, accident and health underwriter at OneAdvent.

Reinsurance News (10/21/2022)
The Governor of Florida, Ron DeSantis, has announced that he is planning to call a Special Session in December to address solutions to stabilize the state’s property insurance market following Hurricane Ian. DeSantis says he is working with the Legislature to introduce more competition and policies that will aim to lower prices for consumers.

PropertyCasualty360 (10/18/2022)
Valued policy laws are designed to protect insureds from an insurer’s claim of underinsurance after a loss. They generally apply only to buildings and structures, and only to losses due to perils specified in the law. These laws vary by state, and it is important for insurers to be aware of how the law can affect them. 

Forbes (10/21/2022)
In our digital-first world, where every aspect of our lives is digitized, cyber insurance has become a necessity. According to the National Association of Insurance Commissioners, direct-written premiums for cyber insurance collected by U.S. insurance carriers in 2021 grew by 92% year over year. With an increasing number of high profile attacks and greater demand for cyber insurance, the landscape is changing.

Insurance Journal (10/21/2022)
Global natural disaster events to the end of Q3 2022 caused total economic losses estimated minimally at $227 billion, of which $99 billion was covered by public and private insurers. Insured losses will now top $100 billion for the third year in a row. This represents an insurance protection gap of 56%, according to a recent report from Aon.

PropertyCasualty360 (10/20/2022)
Higher claims costs driven by inflation coupled with more frequent claims driven by climate change have had a toll on reinsurers. Since reinsurance rates affect P&C policy, as reinsurers struggle with waning profitability, their struggles promise to play an even bigger role in the cost of nearly every policy in the near- to medium-term.

RIMScast
Dr. Hardy knows how to tell a good story. She produced the Emmy Award-winning 2018 documentary, A New Leash On Life: The K9s for Warriors Story, and is a strategic advisor and founder of the Flip this Risk^® book series, podcast, and academy. In this conversation, Dr. Hardy discusses her career in ERM, valuable lessons she has learned, and practical advice for other risk professionals.

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