A year of unprecedented cyber-attacks, business interruption and supply chain disruption, along with natural catastrophe activity has pushed these three perils to the top of the list of global business risks in this year’s Allianz Risk Barometer. Cyber incidents top …
Canada’s total insured catastrophe losses were C$2.04 billion (US$1.63 billion) to date, landing the year in the top five loss years for the country, according to Catastrophe Indices and Quantification Inc. (CatIQ). Further, with 14 events incurring at least C$25 …
The cost of settling workplace class-action lawsuits reached a record high in 2021, defying expectations that the COVID-19 pandemic would decrease the size and reduce the number of payouts, according to a new report by the Seyfarth Shaw law firm …
“Cybersecurity failure” was identified as a critical short-and-medium-term threat to the world by respondents of the World Economic Forum’s Global Risks Perception Survey (GRPS). GRPS respondents rank cybersecurity failure among the top-10 risks that have worsened most since the start …
The trailing impacts of premium and loss trends on the books of property/casualty reinsurers makes the 2022 outlook for reinsurers rosier than the profit outlook for primary insurers, a Fitch Rating analyst said. Longer term, a prolonged period of inflation …
Thawing permafrost could put as much as 50% of Arctic infrastructure at high risk of damage by 2050, requiring tens of billions of dollars in maintenance and repairs, scientists warned on Tuesday. The world’s permafrost — land that remains frozen …
There’s little faith in the global economic recovery accelerating, with officials and business leaders citing climate change and rising social tensions, alongside the pandemic, among their top risks, the World Economic Forum found. Only one in six survey respondents from …
Natural disasters across the globe caused economic losses of US$280 billion in 2021, of which roughly US$120 billion were insured, according to a report from Munich Re, which noted that U.S. natural catastrophes represented an exceptionally high proportion of the …
The National Safety Council (NSC) released survey findings showing that employer vaccine requirements are driving higher vaccination rates among workers. According to the survey, employer vaccine requirement led to a 20% increase in worker vaccination uptake. About 95% of workers …
Global mergers and acquisitions activity attained historic highs in 2021 with 1047 deals valued more than $100 million, a significant increase from the previous year’s 674 deals, according to research completed by Willis Towers Watson. The 2021 total (for deals …
