Categories ArchivesNews and Analysis

Startups Like Loop Insurance Have Something to Teach Traditional Insurers About Equity standard

Using demographic information as a proxy for assessing risk, traditional underwriting models have created unequal access to insurance. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights Historically, models used by insurance companies in the U.S. have adversely affected the ability of poor and non-white individuals to obtain adequate coverage. Using zip codes, home ownership status, credit scores, and other demographic information as a proxy for assessing risk, traditional underwriting models have created unequal access to insurance as a financial safeguard, and consequently reduced some families’ ability to build generational wealth. Longstanding bias in traditional insurance pricing models There are laws against discrimination in underwriting, including some, like the ...

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In Summary – As Global Tensions Continue to Rise, How Will Supply Chains Fare? standard

Disruptions to the global supply chain, made vulnerable by COVID and destabilized by war, could be exacerbated by Russian sanctions. Below is a summary. Additional details are outlined in the full article, published by Risk & Insurance. Read Full Article As the conflict in Ukraine continues to unfold and the world anxiously awaits a peaceful resolution, the effects of Russia’s aggressions are reverberating around the globe. Key takeaways: Impacts of Sanctions & Shortages | With billions of dollars removed from the Russian economy by sanctions, shipping embargoes, and the voluntary closure of corporate operations, limited production of critical resources the region is adding to the current economic pressures. Revisiting Political Risk Insurance | Firms have been too complacent in terms ...

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In Summary – Check the Temperature, the Work Climate is Changing standard

How can employers support the paradigm shift in how employees feel about work, while maintaining standards of service and productivity?   Below is a summary. Additional details are outlined in the full article, published by Risk & Insurance.    Read Full Article The Great Resignation, where roughly 33 million Americans have left their jobs in the past year, has caused employers to change how they structure the work environment to improve employee satisfaction in their work and life. Key takeaways: Work from Home | Even as WFH has become the norm, some employees are opting to live an international lifestyle while working remotely. Employers who embrace flexible schedules and telework will be more competitive in this job market. Empowerment is ...

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In Summary – An Uptick in Health Care M&As is Just What the Doctor Ordered. Here’s One Risk Expert’s Prescription. standard

Expanding their value proposition, Anthem is the most recent health insurance provider to rebrand and reposition their role for consumers.   Below is a summary. Additional details are outlined in the full article, published by Risk & Insurance. Read Full Article Anthem BCBS is diversifying its positioning in the marketplace by rebranding itself as ElevanceHealth Inc.  But, a quick inspection of the healthcare industry shows that Anthem is not alone in the quest to broaden its value proposition via technology. Key takeaways: Whole-Health Approach | Anthem has undertaken several acquisitions recently in order to address health drivers beyond traditional treatment models. Follow the Leader | This announcement follows the example of previous mergers and acquisitions in the healthcare space that have ...

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RC Quick Takes – Mitigating Political Risk as Russian Markets Turn Cold standard

The ongoing Russian aggression in Ukraine has highlighted the resolve of the Ukrainian people and the highly volatile nature of our geopolitical landscape. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights While tensions with Russia have flared in the past, Putin’s invasion of Ukraine has raised the stakes for conflict between Russia and Western allies. Corporate leaders have started confronting this new reality, both in terms of demonstrating solidarity with Ukraine as well as increasing sanctions against Russia. Companies like Shell, Exxon, and even shipping giants like Maersk have shut down business operations and dealings with Russia. What was once viewed as a promising new market has quickly ...

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In Summary – Housing Safety | How Risk Management and Insurance Can Derive Solutions standard

Recent, tragic residential building fires in NYC and Philadelphia are a wake up call for housing safety reform. Below is a summary. Additional details are outlined in the full article, published by Risk & Insurance.    Read Full Article One may assume government owned and operated affordable housing would meet basic standards for safety. Yet, in two iconic American cities, two deadly fires devastated vulnerable citizens. However, two promising solutions were inspired by Washington, D.C., a city with their fair share of urban challenges. Key takeaways: Lack of Safety | In both the New York and Philadelphia fires, basic safety precautions, such as working smoke detectors, fire extinguishers and fire doors, were either not present or not operational. Like the ...

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RC Quick Takes – Who Will Be First? The Race for a Single Payer Healthcare Plan in the U.S. standard

Though “Medicare for All” was backed by many federal lawmakers, the legislation never came to pass despite reaching a fever pitch in 2019. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights In January, the California legislature nearly voted to eliminate most private insurance in favor of CalCare, which would have been the first single-payer healthcare system in the country. When lawmakers concluded there wasn’t enough support, the legislation was pulled from consideration. However, California is just the most recent state attempting to expand healthcare at the state level. In recent years, many states, including New Mexico, Maine, Nevada, Delaware, Oregon, Connecticut, Wisconsin, Michigan, Illinois, and Massachusetts, have explored ...

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In Summary – 2021’s Top Risks in Review and How We Can Anticipate the Ones to Come in 2022 standard

Recalling our 2021 predictions, we take stock of the lessons-learned in the past year in order to help build resiliency for the coming year.   Below is a summary. Additional details are outlined in the full article published by Risk & Insurance.    Read Full Article With the year coming to a close, hopes are shifting to the new beginnings that 2022 may bring. To help prepare for what lies ahead we must also review what has transpired over the past year – and notably, if actual events aligned with the risks we predicted. Four risks are summarized below, based on how they were assessed in January of 2021 and then again in January of 2022. Prolonged Recovery and Economic Strain ...

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RC Quick Takes – 4 Challenges to Pandemic Recovery in 2022 standard

As the world closes the chapter on the second year of the pandemic, the risks created by the novel coronavirus continue to impact humanity.  Our 2022 predictions include four key challenges. Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights As of early December, the World Health Organization (WHO) reported that over 5.2 million deaths were attributed to COVID-19 since the start of the pandemic in 2020.  Approximately 45% of this death toll can be attributed to The Americas Region, comprising North, Central, and South America.  The United States holds the dubious distinction of leading all countries globally with over 783,000 deaths, while Brazil is in second place with ...

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RC Quick Takes – Might Cyber Risk Expose Gaps in Malpractice Insurance? standard

When cyber attacks on hospitals threaten effective medical care, which party is responsible for patients’ outcomes? Stay informed. Our Insights Newsletter highlights the latest news and analysis on global strategy, policy and risk.  Subscribe to Insights As the number of cyber breaches continues to skyrocket, impacting companies of all sizes and across industries, hospitals – providing mission-critical medical care and with access to protected health information (PHI) – have proven to be a prized target. In 2019 an unthinkable incident occurred that still sends shockwaves through the medical community.  Springhill Medical Center, located in Alabama, suffered a ransomware attack that rendered critical medical equipment useless. As a direct result of networks and monitoring equipment being offline, a baby born in ...

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