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Bermuda, looking to jump-start its economy in light of the global financial crisis, has launched a new growth initiative--in part to counter negative publicity about the island's image as a tax haven for insurers and other firms.

Despite the economic crisis, insurance buyers can expect flat rates overall into the fourth quarter, according to the latest poll of risk managers.

U.S. companies are continuing to underestimate the impact of data breaches and have not disclosed what their exposure to such risk is, according to a new survey.

National Underwriter is seeking entries for its third annual "Award For Excellence In Workers' Compensation Risk Management," sponsored by the National Council on Compensation Insurance.

Facing the worst and most prolonged economic downturn since The Great Depression, employers in nearly all industries and of virtually every size are tightening their belts, and risk management departments are not being spared.

The dollar value of merger and acquisition activity for the U.S. property-casualty sector grew last year by $2.67 million, but worldwide for all insurers the monetary worth of mergers declined, a consulting firm reported.

Whether or not faulty enterprise risk management systems were responsible for failures in the financial sector is being hotly debated, but most in the risk management profession agree that with some tweaking, ERM is here to stay.

The workers' compensation industry experienced a 5.4 percent growth in total pharmacy spend per injured worker in 2008, according to a study by Tampa, Fla.-based comp insurance services firm PMSI.