Loss Control

Firefighters battled Monday to contain several large blazes that have burned hundreds of square miles of rural Texas and destroyed dozens of homes since last week.

While in Vancouver for the annual conference of the Risk and Insurance Management Society, it might be worthwhile to take some time out to explore the area known for its clear air, sparkling ocean and nearby Vancouver Island.

RIMS President Scott B. Clark has personal reasons for calling to action members of the Risk and Insurance Management Society, asking them to reach deep into their pockets to help survivors of Japan’s earthquake and deadly tsunami.

The term “bad faith” is one of the most disparaging terms risk managers can level against their insurers. Bad-faith allegations are made after a claim has been poorly handled in the eyes of the risk manager, with a lawsuit often following.

Considering that 73 percent of small and midsize companies have experienced a cyber attack—and that the costs of dealing with such a breach are substantial—corporate risk managers need to give serious thought to acquiring cyber-liability coverage.

The Insurance Institute for Business & Home Safety recently conducted the first-ever full-scale wildfire demonstration at its research center. Watch the destruction take place.

Insurance company shares were mixed Tuesday amid speculation that the industry might see premiums increase given the slate of recent natural disasters and uncertainty over the upcoming hurricane season.

Insurance company shares were mixed Tuesday amid speculation that the industry might see premiums increase given the slate of recent natural disasters and uncertainty over the upcoming hurricane season.