Global Malware Attack Could Cost Insurers $27 Billion

Article 0 Comments A coordinated global cyber attack, spread through malicious email, could cause economic damages anywhere between $85 billion and $193 billion, a hypothetical scenario developed as a stress test for risk management showed. Insurance claims after such an attack would range from business interruption and cyber extortion to […]

Businesses View Cyber, Business Interruption as Bigger Risks Than Catastrophes

Article 0 Comments Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes supply chain disruption) is the major risk for companies for the seventh year in a row, […]

Cyber Joins Business Interruption as Top Global Business Risks: Allianz Survey

Article 0 Comments Cyber incidents join business interruption as the top risks facing global businesses, according to a survey conducted by Allianz Global Corporate & Specialty (AGCS). The impact of business interruption (which includes supply chain disruption) is the major risk for companies for the seventh year in a row, […]

Swiss Re Corporate Solutions Launches Parametric Water-Level Insurance in Europe

Article 0 Comments Swiss Re Corporate Solutions announced it is launching parametric water-level insurance called “FLOW.” This new index-based product is designed to protect companies in Europe from the financial impact of high or low river water levels, such as lost revenue due to business interruption or increased costs due […]

Derailment of BHP Iron Ore Train Exposes Australia’s Reliance on Private Railways

Article 0 Comments A network of private railroads more than three times the length of the New York subway system is the key lifeline for Australia’s A$61.3 billion ($44.5 billion) iron ore export industry. So when there’s a derailment in the biggest shipper — global markets, as well as the […]

BHP Expects Interruption to Australia Iron Ore Exports After Train Derailment

Article 0 Comments Mining giant BHP Billiton expects some interruption to its Australian iron ore exports after a nearly 3-km-long train loaded with the commodity was forcibly derailed this week after running away en route to a key shipping hub. BHP said in a statement on Wednesday that its reserves […]

BHP’s Western Australia Iron Ore Train Derailment Will Take Week to Recover

Article 0 Comments BHP Billiton Ltd. expects to take about a week to recover from the derailment of one of its iron ore trains that’s halted its rail operations in Western Australia, potentially bolstering prices of the steelmaking raw material. The company was forced Monday to derail the train that […]

Amid Floods and Closures, Wisconsin’s Bowling Industry Suffers

Article 0 Comments Bowling pins topple, teeter, spin and fly. But this summer in Wisconsin, they’ve also been charred by flames and soaked with floodwater, while others are headed into retirement. In July, fire destroyed the Friendship Bar & Bowl in Adams County. Meanwhile, in Sheboygan County, JB’s Entertainment Center […]

Small Businesses Hampered by Uninsured Damage After 2017 Hurricanes: Fed Reserve

Article 0 Comments Small businesses in the United States struggled with uninsured damages and lost revenue following a record-breaking year of hurricanes and wildfires, according to a Federal Reserve survey published on Tuesday. The report by the Dallas, New York, Richmond, and San Francisco Fed banks examined 1,800 businesses with […]