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The Challenges of Hurricane Forecasting
The current “drought” of major hurricanes (Category 3 or higher) making landfall in the United States has been remarkable. The last major hurricane to affect the United States was Wilma in 2005,...
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Addressing Business Interruption Exposures
Despite news reports about natural disasters and man-made calamities that seemingly occur every week, many businesses have not considered the potential impact of these exposures. Consequently, they...
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Stormy Seas
While extreme weather events can affect all kinds of businesses, hurricanes and tropical storms are especially serious considerations for risk management professionals in the shipping and transport...
View ArticleReviewing Your Insurance Coverage in Advance of Hurricane Season
With weather patterns and storm severity growing less predictable, regions of the country that were traditionally thought to be immune from the most severe weather have learned they are not. Storm...
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Strategies for Funding Wildfire Mitigation
Droughts and wildfires have garnered a lot of attention in the past decade, and rightly so. Since 2006, about 70 significant droughts, wildfires and heat waves have occurred worldwide. Combined, these...
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Mitigating Evolving Water Threats
As concerns about climate change and its potential impact on business continue to mount, companies are increasingly left wondering what they can do to adapt. One of the most pressing challenges is...
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Heading for Disaster
With natural catastrophes increasing in frequency and severity, having adequate insurance coverage and effective business continuity plans in place has become ever more important for all...
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The Insurance Impact of the Fort McMurray Wildfires
On May 1, a wildfire started in the Fort McMurray, Alberta, Canada, area that quickly spread from forests to neighborhoods, displacing more than 80,000 people, causing two fatalities and outpacing...
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Building Resilience: Using Rating Systems to Mitigate Disaster Risk
Natural hazard risks to buildings, businesses and communities have become one of the paramount concerns of our time. Due to the enormous financial investment, daily utility and commerce conducted...
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Four Years After Sandy, Storm Resilience Lags
When Superstorm Sandy hit the eastern coastline of the United States in October 2012, it quickly became apparent how underprepared governments and businesses were for the effects of the storm surge....
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Insurers and Climate Change
While more U.S. insurers are improving their disclosure and management of climate risk, most are still giving it minimal attention, according to nonprofit sustainability group Ceres’ 2016 Insurer...
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Hurricane Matthew’s Destructive Path
As a Category 4 storm on Oct. 4, Hurricane Matthew decimated Haiti, causing more than 1,000 deaths before moving on to the southeast coast of the United States. There, downgraded to a Category 2, it...
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Year in Risk 2016
As businesses continually expand into new markets and develop strategies to win customers, the risks they are exposed to increase exponentially. Risk professionals, therefore, need to be prepared for...
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Steady Supply: The 2017 P/C Insurance Market Outlook
Risk managers can look forward to yet another year of competitive pricing among insurers, creating a favorable market with declining premium rates, as an abundant supply of capacity favors buyers. But...
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Notepad: Risk in Review – March
Trump Takes Aim at Dodd-Frank As part of an anticipated effort to scale back the regulations implemented in 2010 in response to the 2008 financial collapse, President Donald Trump signed an executive...
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Only Humans Can Prevent Wildfires
A study of wildfires in the United States over a 21-year period found that the number of blazes set by humans is much higher than previously believed. From 1992 to 2012, 84% of all wildfires were...
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Notepad: Risk in Review – April
Hackers Attack Stuffed Animals In yet another example of the pervasiveness of hacking and the risk of internet-connected products, a line of stuffed animals called CloudPets was recently targeted by...
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Oroville Dam Highlights Infrastructure Risks
The near-collapse of the Oroville Dam in northern California in February could have been catastrophic. Communities as far as 100 miles downstream from the dam were at risk of flooding that could have...
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Notepad: Risk in Review – May
North Carolina Repeals Bathroom Bill After a year of protest, economic fallout, and the ousting of the governor who signed it, North Carolina legislators repealed the controversial House Bill 2 (HB2),...
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The Importance of Financial Disaster Preparedness
Containment of financial loss, regardless of its cause, is a key goal of virtually every organization’s risk strategy, providing a compass for many of the actions taken to avoid, mitigate, transfer...
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