Risk Science: What You Need to Read Today
Explainer: Are Natural Disasters on the Rise?
The Conversation
Events we label “natural disasters” are occurring more frequently than in the past.
Lessons From Hurricane Sandy Aid Cyber War Games
Financial Times (sub may be required)
Financial regulators are drawing lessons from responses to natural disasters as they prepare for cyber war games that will simulate breaches at Wall Street and London banks.
Want an Affordable Earthquake Warning System? Use Animals, Scientists Say
Reuters
Scientists have long believed that animals can predict earthquakes, but have until now relied on anecdotal evidence of changes in animal behavior.
Life in the Philippines: Preparing for the Next Typhoon Haiyan
The Guardian
The Philippines is battered by some 20 typhoons a year – events that will get more severe with climate change.
Risk Business: What You Need to Read Today
Court Sides With PSEG in Sandy Storm Surge Coverage Battle
New Jersey Law Journal
A novel ruling affects insurance coverage for $500 million in losses claimed by New Jersey’s largest utility company as a result of Hurricane Sandy.
World Bank Significantly Expands Disaster Risk Management Product Offerings for Clients
World Bank
Previously, the Bank could only offer derivatives. Now, the range of instruments has been expanded to include insurance and re-insurance contracts.
Fitch: Hedge, Private Funds Are Greatest Systemic Risk to Investment Management
Pensions & Investments
Fitch Ratings said private funds are “lightly regulated,” and leverage constraints are looser than elsewhere in the financial markets.
Cyber-Insurance Still Too Expensive and Complex, Government Report Admits
Computerworld UK
The market held back by lack of data for pricing risk.
