On January 17, 1995, an earthquake struck the Japanese port city of Kobe, killing 6,500 people and destroying $100 billion worth of property and capital. Five weeks later, Barings Bank was declared insolvent after admitting losses of $1.3 billion, twice the …
Continue reading →Bioterrorism: Unthinkable but Insurable
The bombings in Boston on April 15 re-kindled concern about a type of risk no one likes to think about: bioterrorism. Risk managers, however, must think about it and prepare to mitigate as much of the human, environmental and financial …
Continue reading →Pakistan’s Election Cycle and Collateral Violence
Elections in Pakistan mark an important milestone in the country’s democratic development. The completion of President Zardari’s term and transfer of power will be the country’s first full electoral cycle uninterrupted by military power brokers.
Continue reading →5 Financial News Stories You May Have Missed: Clawbacks and Jelly
The stories that mattered in finance this week: clawbacks settlements, Libor, and jelly…
Continue reading →Managing People Risk in Financial Times Special Report
Companies should look beyond the surface level to accurately quantify the risks associated with people and behaviour. That is according to Steve Saporito, Chief Executive for the Americas at Willis Global Solutions Consulting Group who was recently featured in a …
Continue reading →Delaware to Directors of Foreign Companies: You May Run But You Can’t Hide
Hot on the heels of its decision instructing directors of global organizations on how to meet their duties regarding their international operations, the respected Delaware Chancery Court has now addressed the potential personal liability of directors of U.S.-based global firms, …
Continue reading →A Gigantic Risk Management Entertainment System
As video gaming has become more and more sophisticated, and as the hardware to support those games has become capable of playing movies and other media, video game consoles have now become “Entertainment Systems”.
Continue reading →Medical Device and Pharmaceutical Product Recalls – What Role for Insurance?
Anybody who tracks medical device and pharmaceutical FDA recalls knows that these occur with some regularity and that some of the recalls are necessary to prevent serious life threatening injuries. A product recall can be potentially devastating for the product …
Continue reading →FINEX SURVEY: AIFMD Requirements Will Increase Operational Risks
A recent poll of financial institution insurers found that 65 percent believe that the Alternative Investment Fund Management Directive (AIFMD) will increase Alternative Asset Managers’ operational risks.
Continue reading →Video: Taking the Offensive Against Defensive Medicine
In a WillisTV interview from the floor of RIMS, I spoke to Colleen McCarthy about the progress many of us hope to see in addressing the problem of defensive medicine—and about the issues created by some of the solutions arising …
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