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Human Nature Reason Everyone Isn’t Fighting Climate Change

I’ll make a prediction, which is a hallmark of science: I do not think that anything substantial will happen to combat the effects of climate change for the next 10 to 20 years, because that is how long it will take for the public to care.
August 5, 2019 Catastrophe Risk Management

Jaw-Dropping Settlements Becoming The Norm In Retail Slip And Fall Claims

Jurors in Leon County, Florida, recently awarded nearly $2 million to Stephanie Jenkins, aged 47, who suffered serious injuries after slipping and falling inside a USA Grocers in Tallahassee.
August 1, 2019 Liability Litigation Risk Management

To Launch A Successful Claims Closure Initiative, The Key Is Changing Company Culture

Claims closure projects aren’t a simple matter, but they’re well worth the effort. By closing claims that are 20-30 years old, companies are often able to settle for less than the case reserve and save on any future incurred but not reported (IBNR) costs associated with a particular case.
July 30, 2019 Risk Management Workers' Compensation

The Time To Prepare Is Now, With One Hurricane Down And More To Come

Hurricane Barry has come and gone, and while the first hurricane to make landfall in the US this season didn’t wreak as much havoc as expected, there are still other storms slated to appear in the summer and fall.
July 24, 2019 Catastrophe Property Risk Management

5 Things People Get Wrong About Medical Marijuana In Workers’ Comp

There’s been lots of talk about medical marijuana as a safe alternative to opioids for the treatment of chronic pain, a common diagnosis among workers’ compensation patients.
July 23, 2019 Risk Management Workers' Compensation

How Dutch Stormwater Management Could Mitigate Damage From Hurricanes

Recent hurricane seasons have been vicious, last year’s killed more than a hundred people and inflicted more than $50 billion dollars in damages. The country is still deep in recovery and this year’s storm season is already underway.
July 22, 2019 Catastrophe Education & Training Property Risk Management

The Future Of Drones Is Up In The Air: Consider The Risks Carefully

Developments like Amazon’s recent announcement that it expects “within months” to begin delivering packages via drone, coupled with the anticipated impact of 5G wireless technology on drone use, have captured headlines. How drones ultimately will be used is uncertain, but it’s clear that increased use of unmanned aircraft will likely alter the risk landscape.
July 19, 2019 Liability Risk Management

Booming Scooter Service Challenges Risk Management Conventions

From a start of effectively zero in 2017, there were more than a million scooter rides in 2018, noted Jillian Slyfield, digital economy practice leader at Aon.
July 15, 2019 Liability Risk Management

Insurance Taskforce Seeks Federal Backstop For Catastrophic Cyber Loss

The cyber insurance industry has grown exponentially in the past decade. As more and more businesses — of all sizes and in every sector — purchase cyber policies, the cyber insurance industry gains stronger and more actionable data insights.
July 15, 2019 Excess & Surplus Lines Legislation & Regulation Risk Management Technology

Growing Risks From Malicious Drones

Recent drone attacks in Saudi Arabia dramatically illustrate several key issues relevant to terrorist and security risk assessment. This should be enough to cause private entities, governments and insurers to reassess their prior risk assessments and security planning around important infrastructure, iconic buildings and large scale events.
July 11, 2019 Risk Management

Fulfilling AI’s Promise In Workers’ Comp

The term “artificial intelligence” (AI) is weaving its way into the mainstream of insurance companies of all sizes. It’s a hot topic: Consider that at the recent Dig | In event in Austin, Texas, at least half a dozen exhibitors classified themselves as “AI” or “AI/Fraud” companies.
July 9, 2019 Risk Management Technology Workers' Compensation

California Wildfires: A Call For Best Practices From Insurers, Legislators

California’s insurance commissioner Ricardo Lara recently announced two new actions intended to help survivors of the state’s recent spate of catastrophic wildfires who are facing unavoidable delays in rebuilding.
July 1, 2019 Catastrophe Legislation & Regulation Property Risk Management California

Zurich Makes Commitment To UN Pledge To Take On Climate Change

Zurich Insurance Group has announced that it is the first insurer to commit to the UN Global Compact Business Ambition Pledge — an initiative that aims to limit global temperature rise to 1.5°C above pre-industrial levels.
July 1, 2019 Risk Management

Report Finds Mergers and Acquisitions Claims On The Rise, With $1 Trillion On The Line

The fourth annual edition of AIG’s M&A Claims Intelligence Series reveals increases in the severity and long-tail nature of M&A claims that, coupled with a competitive marketplace, declining rates and broadening terms and conditions, could mean serious challenges to profitability — and an increased likelihood of higher rates.
June 27, 2019 Excess & Surplus Lines Risk Management

Momentous Change And Mobile Devices

Technology is the foundation of the insurance industry: the means to solve or approximate answers to questions about the cost and availability of insurance, in addition to ways to reduce risk, improve service and expand coverage.
June 26, 2019 Risk Management Technology
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