Risk Management
Oric records 2014 operational loss events cost £301m
Members of operational risk group Oric International submitted 884 loss events during 2014 with a total value of £301m.
Reserving certainty a fillip for insurers in Enterprise Bill amendment
A proposed amendment to the Enterprise Bill under consideration by the House of Lords is being championed as giving insurers more certainty around reserving for damages relating to late claim payments.
Cyber and economy increasing concerns in financial system risk
Economic downturn, cyber attack and geopolitical risk pose the most concern for the UK’s financial system, according to the Bank of England’s biannual systemic risk survey.
Quiz of the week - 27 November
Test your knowledge of the week's insurance news, with the Post insurance quiz of the week.
Analysis: The explosive risks of mis-declared cargo
The explosions at China's Tianjin Port on 12 August brought home the fatal consequences of improperly storing dangerous cargo.
Expertise from A-Z: Safe as houses
Overseas investment in London has meant high and stable property prices. How can insurers stay in touch in such a competitive arena?
Tornadoes: Whirling havoc
Widespread media coverage may give the impression tornadoes only occur in the US. This is not the case, with the high-speed weather phenomenon threatening destruction around the world
Blog: Corporate travel insurance needs joined-up perspective to mitigate risk
In a climate of growing global volatility, it's no secret that travel risks have increased, nor that the travel market is under unprecedented pressure to mitigate these risks. But what's also becoming apparent is the industry's appetite for answers to…
Australasia's risk management institute appoints Ventura as president
The Risk Management Institution of Australasia has appointed vice-president Anthony Ventura as its new president.
Pool Re insurers to take higher retention after terror attack
Pool Re members will take a greater retention in the event of a terrorism loss, shifting from £100m to £135m at any one event.
Blog: Tiny tech - but how big are the risks?
Insurers need to monitor nanotechnology developments as the miniaturisation trend could pose new, unsuspected risks.
Chemical or nuclear terrorism covered by Pool Re
Pool Re CEO Julian Enoizi said the government-backed terrorism reinsurance scheme would be ready to respond to biological or chemical attacks, after French prime minister Manuel Valls raised concerns about such incidents on French soil.
In Series: Windstorms: Hindcast is a wonderful thing
Use of the right meteorological data is vital for insurers.
Crowded places initiative take-up positive for UK resilience in light of Paris attacks
Promising early take-up of the government’s crowded places initiative has been “positive for building the resilience of British infrastructure” if faced with a similar attack to that witnessed in Paris last week, according to Pool Re CEO Julian Enoizi.
Space support for planned subsidence mapping tool
A UK-based service to assess the risk of subsidence using satellite observations and property data is a step closer following a study.
Paris attacks to cost French economy up to $12bn
The deadly attacks in Paris on Friday night will cost the French economy between $9bn and $12bn over the next nine months, predicts Andrew Coburn, from the Cambridge Centre for Risk Studies.
Risk mapping software for underwriters launched by Business Insight
Business Insight has launched a new risk mapping software for insurers.
London remains key market for energy buyers
London is still the number one market for many energy buyers with the concentration and experience of the market leading to a more efficient buying process, a risk expert told the London Power Forum this month.
FCA paves way for insurers to take advantage of cloud services
The Financial Conduct Authority says there is no "fundamental reason" why cloud computing cannot be used by financial services companies in a manner that complies with its rules.
Innovation Broking attracts £2m VC investment
Venture capital investor Albion Ventures is to invest £2m in commercial broker Innovation Broking.
Talk Talk reveals cyber attack cost but stays on track for financial targets
Talk Talk is aiming to hit its fiscal targets for 2016, set before last month’s cyber attack on the telecoms company.
LMA starts new committee to focus on CROs
The Lloyd’s Market Association has set up a new committee of chief risk officers to examine best practice and promote high technical standards among CROs.
Travel: Winter Sports: Prang on the piste
Snowflakes have barely started falling in the Alps but already the media is asking how well our travel insurance policies will protect holidaymakers if their trip is hit by cancellation or calamity
Increased city populations to spur flood exposure in Asia, says JBA study
According to catastrophe modeling company JBA Risk Management population increases in four major Asia cities will lead to a large rise in flood risk exposure.