Understanding Catastrophes
Power Lines: More Than Just an Eye Sore?
Two Mega D&O Lawsuits Pending in Japan
Recent natural and man-made catastrophes are mandating that business recalibrate risk. This is because ‘worst cases’ are being exceeded all around us. ... Continue reading →
Are any of the properties that you own, operate, lease or manage near power lines? Substations? Transformers? How close is too close? With third party lawsuits and legal defense associated with "p... Continue reading →
Officials and Judges at the Tokyo District Court are likely to be working overtime in the coming weeks and months. Two of the largest claims to have been made in Japan are likely to commence at vi... Continue reading →
Employers, insurance carriers and brokers in the US have been struggling the last few years to prepare for the requirements of a new law pertaining to state-funded medical aids, namely Medicare, Medicaid & State Children’s Health Insurance Program (SCHIP) Extension Act (MMSEA) Section 111 Reporting.
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In the largest joint federal and state settlement of all time, five of the largest mortgage servicing companies agreed to a $25 billion settlement. The agreement will end past mortgage servicing–related litigation from state Attorneys General around the country and the U.S. Attorney General as well as bank regulators. The gang of five includes Bank of America, Wells Fargo, Citibank, JP MorganChase and Ally Bank. Where does the money go?
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Chinese Embassy representatives sign handover papers to receive the body of a Chinese worker killed during a kidnapping in Sudan, February 7, 2012. PHOTO CREDIT: Mohamed Nureldin Abdallah / Reuters
On 28 January 2011, militants affiliated to the Sudan People’s Liberation Movement/Army (SPLM-N) kidnapped 29 Chinese workers from a company compound between El Abbassiya and Rashad (South Kordofan state). 18 other workers escaped during the raid and one victim was killed.
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As the battle against spiralling directors’ bonuses continues unabated in the UK, I came across this interesting and topical snippet from accountants BKL on the perils of renouncing directors’ bonuses.
In my last blog, I referred to the number of losses suffered by the mining industry over the past five or so years. I noted that losses originated from a plethora of causes including natural catastrophes and operational shock losses.
Interest in Insurance Loss Warranties (ILWs) is at the highest level it has been since 2007, with a report from Willis Re anticipating that prices this year will equal those reached in the post hard re/insurance market which followed Hurricanes Katrina, Rita and Wilma.
Destruction caused by 6.3 earthquake in Christchurch, New Zealand, February 22, 2011.
Today is ‘Waitangi Day’ in New Zealand; it’s mid-summertime and many New Zealanders will be grabbing their “togs,” slipping on their “jandals” and with a bit of a “slip, slop, slap and wrap” will be preparing to enjoy a day off by hitting the beach with family or friends…
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If financial institutions had any doubts about whether the new Consumer Financial Protection Bureau (CFPB) will have any serious impact on their business, the credit card company Discover has resolved the question and the answer is one hundred million yeses.
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It costs about $10 million to secure a city for the Super Bowl, the NFL estimates. Indianapolis has reportedly spent $7 million and pulled in 3,000 additional law enforcement personnel to keep the influx of 150,000 people safe for Super Bowl XLVI this Sunday. With stakes this high, risk managers need to bring their A-games to events like these, just as much as the players do.
Ok sports fans. The Super Bowl is Sunday, and along with all the hype about the teams, the stats, the odds, and the rematch from four years ago, you’re pretty much guaranteed to see or hear about the crazy fan or fans who paint themselves blue and silver, tailgate the entire week before the game, and drive a car with hundreds of Giants or Patriots flags dangling from every opening.
