At least three-quarters of Americans are worried about shopping with businesses that have suffered a data breach, a Generali Global Assistance survey has revealed. More than half of consumers believe shopping at physical stores is safer than online purchasing, although 75% say they will make some online purchases over the holiday period.
Manufacturers are making higher quality and more expensive mobile homes that many hurricane victims cannot afford. The uninsured losses for hurricanes Harvey and Irma are estimated at $57 billion, with about 1.8 million homes destroyed.
In the aftermath of a serious disaster, businesses face the risk of downtime due to damaged equipment and lost company and client data. Company data should always be backed up and stored on a secure server far from the business premises, and businesses need a plan for recovering downed systems and files as quickly as possible.
A US Navy plane has crashed in the Pacific Ocean off the coast of Okinotorishima, Japan, with three crew members still missing and eight recovered safely. The Navy has had a number of fatal accidents this year, including two collisions among ships sailing in Asian waters.
An EF1 tornado caused damage around the Allegheny and Westmoreland county borders in Pennsylvania on Sunday, including a flipped vehicle and downed power lines. The National Weather Service recorded tornado wind speeds of around 90 mph during the storm.
Office leasing volume hit a two-year high of 62.4 million square feet in the third quarter, according to a report from JLL. The report attributed the uptick in leasing to more new construction coming online, especially in markets with tight supply.
Congress has four weeks to reconsider the structure of the National Flood Insurance Program before its reauthorization due date, and many are calling for the program to be modernized. Although flood costs are rising, NFIP's rates often do not accurately reflect the risk; introducing private competition to the flood insurance market could improve the balance of risk and rates.
The American Academy of Actuaries warned Congress in a letter Tuesday that repealing the Affordable Care Act's individual mandate as part of tax legislation could result in higher premiums and cause insurers to leave the marketplace. "This could lead to severe market disruption and loss of coverage among individual market enrollees," the letter said.
A panel of state regulators is set to discuss accounting rules for variable annuities at a meeting of the National Association of Insurance Commissioners. The key issue is how accounting rules deal with measures that variable annuity providers take to hedge against interest rate risk.
In this interview with Forbes, Jacqueline Quintal, financial institutions practice leader at Aon Risk Solutions, discusses the increasingly complex demands of risk management and how they will be addressed in the future, including the changing role of chief risk officers.
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