AIR Expands Its Catastrophe Risk Engineering Solutions to Include Supply Chain Risk Quantification

Insurance News on catastrophe insurance losses

Insurance news… AIR Worldwide (AIR) announced today that it has expanded its suite of Catastrophe Risk Engineering (CRE) solutions to help quantify, mitigate, and manage the risk associated with the impact of catastrophes on supply chain networks. AIR’s new offering will help risk managers better assess and reduce their risk from catastrophic perils such as hurricanes, earthquakes, floods, tornadoes, and tsunamis. This includes risk not only from physical damage but also from direct and contingent business interruption losses across the entire supply chain network. “The catastrophe risk to supply chain networks…

Read More

More investment in nanotechnology research needed, says National Research Council

Scientists from the National Research Council in the U.S. are urging insurers to invest more money in studying nanotechnology. The technology has advanced significantly in the past decade and now holds major promise in medical applications and consumer products. Council scientists say that the potential health hazards of the technology are not yet fully understood and that an additional $24 million a year is required to fill in the knowledge shortfall. Without an intimate understand of the risks associated with nanotechnology, consumers could face unforeseen dangers that will have a…

Read More

Military veterans targeted by insurers for new job opportunities

The property/casualty insurance industry is ramping up efforts to find new talent and many companies are looking to military veterans to answer the call for new hires. The insurance industry has long been one of the friendliest sectors for those retiring from military service and looking for work in the private sector. Military experience translates well into insurance because veterans are often instilled with a sense that problems must be solved properly and as quickly as possible. Aon Corporation, one of the world’s largest reinsurance and risk management firms, has…

Read More

Allstate to drop homeowners if they do not get their auto insurance from the company

In an effort to rein in on risk in North Carolina, Allstate has begun dropping homeowner’s policies for those that refuse to also purchase their auto insurance from the company. The 45,000 homeowners Allstate currently provides coverage for in the state have been informed that they must switch their auto insurance policies over to Allstate by December 15 of this year or risk losing their home insurance policies entirely. The company cites risk management as the driving force behind the initiative. Those that lose their coverage from Allstate are not…

Read More

Chubb launches interactive Risk Conversation social resource

The Chubb Group of Insurance Companies has announced the launch of its Risk Conversation resource, which provides consumers with an interactive community that addresses struggles to risk management for individuals and businesses. The Risk Conversation resource is available at riskconversation.com, and provides information for prevention, risk assessment tools, and blogs that can help its users to pinpoint, understand, and manage a number of different risks to which they can be exposed in their professional and personal lives. Chubb’s public relations manager, Mark Schussel, said that risk is something that affects everyone…

Read More

A.M. Best to sponsor Annual Self-Insurance Institute of America’s National Education Conference and Expo

A.M. Best Company, a credit rating and financial data and services company operating in the insurance industry, will be sponsoring the 31st Annual Self-Insurance Institute of America’s National Education Conference and Expo. The conference will be held between October 9 and 11 of this year in Phoenix, Arizona. The annual event attempts to broaden the knowledge of self-insurance within the insurance industry as a whole. This year, the event will be focused around the future of self-insurance and how the marketplace is being shaped by new trends. Self-insurance is a…

Read More

Trillium Software helps insurers and reinsurers obtain more robust catastrophe modelling results

MONTE CARLO, Monaco & BILLERICA, MA – Sept. 13, 2011 – Trillium Software(r), a business of Harte-Hanks, Inc. (NYSE:HHS), and a leading enabler of Total Data Quality solutions, announced today an agreement with AIR Worldwide, the scientific leader and most respected provider of catastrophe risk modelling software, to provide more precise geocoding through the integration of Trillium Software’s geospatial capabilities with AIR’s catastrophe modelling application. The integrated software solution is expected to help AIR Worldwide’s clients improve risk geocoding and catastrophe risk analyses for perils such as wind, flood, and…

Read More