A New Jersey law requiring residential and commercial landlords and sellers of real estate to disclose any flood history and potential flood risks to prospective renters and purchasers goes into effect Wednesday, March 20. Prior to the adoption of the …
A U.S. State Department-commissioned report asserts that advanced artificial intelligence is creating entirely new categories of weapons of mass destruction-like (WMD-like) and WMD-enabling catastrophic. The risks associated with these developments are global, have deeply technical origins and are quickly evolving, …
The Federal Emergency Management Agency in an effort to engage reinsurance markets to bolster the financial framework of the National Flood Insurance Program and promote private sector participation in flood-risk management has again obtained reinsurance coverage through insurance-linked securities reinsurance. …
Risk is the “new normal” for the global ocean shipping industry that handles 80% of global trade as pressure from geopolitical tensions, rising protectionism and climate change mounts. “There are going to be global tensions … and I think global …
As the best hedge fund strategy of 2023 becomes a magnet for mainstream investors, the risk models it relies on are getting a lot tougher to crack. The strategy in question is tied to insurance-linked securities, which are dominated by …
Underwriters who thought the growing cyber risk landscape of the past several years would level off soon might want to think again. Woodruff Sawyer’s annual survey of cyber insurance carriers found all underwriters surveyed believe cyber risk will increase in …
Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123 billion in 2023, the fourth consecutive year to exceed $100 billion, according to Gallagher Re’s annual Natural Catastrophe and Climate …
Career development, artificial intelligence, risk engineering, climate risk disclosure, and geopolitical risks are among the top issues businesses will be talking about in 2024, a new report shows. Sedgwick published its “Connect 2024,” which highlights industry trends and issues for …
Some ship insurers are starting to avoid covering US and UK merchant ships against war risks when they navigate the southern Red Sea, another sign of blowback since the two nations’ airstrikes on Yemen last week. Houthi militants have stepped …
BERLIN (AP) — Insurance companies that have long said they’ll cover anything, at the right price, are increasingly ruling out fossil fuel projects because of climate change — to cheers from environmental campaigners. More than a dozen groups that track …