Every year, financial crime becomes more sophisticated, new malware emerges and fraud losses rise. Top that problem up with continuously evolving regulations and hefty non-compliance penalties, and financial institutions are facing an increasingly complex risk landscape.

Lloyd’s of London has launched a new review of its insurance contracts, taking a new look at the way products are created and sold. The purpose is to develop simpler products in response to the COVID-19 pandemic.

The industry’s concern over carbon emissions, and their impact on climate change, raises the question of whether nuclear energy is better for the environment.

While 2020 has been a tumultuous year for risk managers domestically, California has seen more than its fair share of difficulties.

It started the same way. In March 2020, the headlines were overtaken by news of a killer virus, COVID-19. Soon after, we were advised to stay home, not to go to school or work and to stay apart.

Insurance and reinsurance marketplace Lloyd’s of London has launched a new business interruption policy for small and medium sized enterprises (SMEs) that uses a parametric trigger to protect against IT disruption or downtime.

While outsourcing is a common strategy for businesses, carriers seeking to outsource claims management services should evaluate their options carefully, said Mike Hessling, North American CEO of Gallagher Bassett.

In this age of disruption, all those organizations that spent many years and lots of cash to dig beautiful trenches for their useless Three Lines of Defense are being seriously damaged.

One of our biggest challenges in dealing with COVID-19 is adapting traditional methods of limiting liability and risk transfer to our new environment. Contracting parties have long looked to provisions such as force majeure, limitations of liability, and indemnification to help manage risk.

Diversity and inclusion (D&I) plays a critical role in business resilience, according to new research from Dive In, the global D&I festival for the insurance industry.

The crucial role that insurance plays in the resilience of societies, communities and countries has become clearer than ever during the COVID-19 pandemic.

Following several years of acquiring various insurance brands, American Family Insurance is consolidating all its claims departments into one — resulting in an undisclosed number of cut positions.

Wood building (including stick-build, tall timber, and mass timber) is increasing in prevalence and complexity, both in commercial and residential markets. With this boom comes a variety of claims, ranging from builder’s risk to construction defect, workers’ compensation to subcontractor default.

Nursing homes and managed care facilities across the country have been coronavirus hot spots, accounting for hundreds of thousands of cases. Often filled with elderly patients with underlying health conditions living in close quarters, these facilities have been a perfect breeding ground for the virus.

The economic fallout of the COVID-19 crisis has been an unprecedented challenge for the insurance industry, with its devastating effect on numerous businesses causing a surge in business interruptions.