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NewsLong-term governance failures caused Beirut blast
Governmental shortcomings were to blame for the explosion in Lebanon, according to risk experts, who say lessons can be learned from the incident
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Commercial insurance pricing up 19% in Q2
The increase is the largest since the index was launched in 2012 and reflects increased loss experience
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Insurers shine spotlight on container loss incidents
The extent and pace of growth in container volumes have put strains on a wide range of operational procedures
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Research predicts dramatic increase in wildfire risk
By 2030-2040 climate change will prolong wildfire seasons, adding a month in European countries including Spain, Portugal and Greece
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Beirut port disaster loss to impact global insurers
Observers are drawing comparisons with the 2015 explosion in the Chinese port of Tianjin, which highlighted accumulation exposures in ports - AM Best
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Beirut explosion, 5 years on from Tianjin
The large blast in Beirut, Lebanon is expected to result in a significant insurance event as the death toll and casualties from the explosion continue to rise.
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Hard market to prompt captive growth
Firming commercial insurance prices and impacts from COVID-19 could present opportunities for the captive insurance segment - AM Best
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Flood damage erodes companies’ long-term value
Stock price of damaged firms drops 5% in the year following major floods as investor confidence declines - research
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FERMA welcomes EIOPA pandemic resilience paper
EIOPA paper proposes options for public-private partnerships to be explored at national and European level
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COVID-19 litigation tracker identifies vulnerable industries
217 complaints have been filed in the US with 55% involving cruise ship passengers and nursing home residents and staff
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Study recommends new approach to supply chain risk
Researchers from UB School of Management say their framework would have benefitted organisations as the coronavirus pandemic hit
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Due diligence the key for third-party risks
Research from Refinitiv reveals 43% of third-party relationships are not subject to any form of due diligence checks
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Nat cats cost global economy $75 billion in 1H 2020
Insurers paid out $30+ billion due to natural catastrophes in the first six months of the year
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Strengthening business resilience after COVID-19
The speed with which the crisis unfolded meant companies had to improvise, because their crisis-response plans were too rigid and slow - Arthur D Little
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Emerging markets face “unparalleled” civil unrest
The outlook is also negative for the US, which is now the 48th riskiest jurisdiction globally - Verisk Maplecroft
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Using risk appetite to support decision-making: Gordon
In the last of our #changingrisk series, Sarah Gordon warns against vanilla risk appetite statements
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COVID-19: Construction insurance rates harden
In Europe, rate increases from previous months have been aggravated due to the consequences of COVID-19
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Twitter hack exposes potential for reputational harm
The confluence of COVID-19 and advanced social engineering techniques poses a growing threat - CyberCube
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COVID-19: Three quarters have experienced supply chain disruption
Two-thirds of organisations plan to source goods more locally post-pandemic, reducing reliance on the Far East - BCI report
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Shipping losses at record low
Consequences of coronavirus and a sustained economic downturn could however threaten long-term safety improvement
