Former presidential advisor to lead new global risk reduction initiatives
A new global reliance practice has been formed in order to support risk reduction and resilience initiatives.
Catastrophe modeling firm AIR Worldwide has appointed Dr Daniel Kaniewski to lead the new practice, bringing 20 years of experience to the role including serving as a senior advisor at the White House during major crises.
“I look forward to assisting organizations in applying catastrophe modeling to financing disaster risk and to expanding AIR’s already strong collaborations with the United Nations, the World Bank, the U.S. National Flood Insurance Program, insurance regulatory bodies across the globe, and distinguished research groups,” Dr Kaniewski enthused.
The global practice will have four key objectives: to develop solutions that aid society’s efforts to better prepare for catastrophes;to assist organizations in applying catastrophe modeling to disaster risk financing; to establish alliances with organizations to advance the science of modeling and help society better manage the risks from natural hazards;
and to strengthen relationships with regulatory bodies and rating agencies globally.
Insurer offers free coverage for Pokemon Go injuries
The latest gaming craze sweeping the world carries potential risk of injury to players but one insurer is seizing the opportunity to attract new customers, especially the hard-to-catch millennials.
Russia’s largest bank Sberbank is offering the equivalent of $800 of coverage for personal injury while playing Pokemon Go. Players simply need to enter their details (including their Pokemon Go nickname) online to receive the cover.
There have already been reports of injuries to players who have been distracted or disorientated while playing the game and Sberbank is hoping to gain from concerned players but there is a higher game in play by the insurer.
“It is also important for us that the project will improve financial literacy, as the younger generation will be able to learn about insurance instruments while playing the game,” Sberbank Life Insurance CEO Maksim Chernin to RT.com.
Chubb launches product for Canada’s private companies
Chubb Insurance has launched a suite of coverages designed specifically for privately held companies in Canada.
ForeFront Portfolio includes coverage for: professional, D&O, fiduciary, in-house counsel and employment liability; cyber; crime; kidnap & ransom; and workplace violence expense.
"Chubb's new policy offers a modular and flexible insurance solution that allows private Canadian companies the ability to select from nine coverages with shared or separate limits to build a tailored portfolio of protection to address today's complex risks," said Cameron Rose, Senior Vice President for Chubb Financial Lines, Canada.
The new product is available electronically to brokers.
