Tropical cyclones cost global economy $4 billion in September
As Hurricane Matthew continues to cause devastation the economic impact of last month’s natural disasters has been assessed by
Aon Benfield’s catastrophe modeling team Impact Forecasting.
In North America, the category 1 Hurricane Hermione became the first hurricane to make landfall in Florida in more than a decade, claiming at least 3 lives and causing damage across 5 states. It caused economic losses above $800 million and insured losses of around $400 million.
“With the general increase in coastal populations, event preparedness is paramount, and in this regard the insurance industry and catastrophe modellers are well positioned to help residents understand their exposures,” commented Adam Podlaha, Global Head of Impact Forecasting.
The Soberanes Fire continued to burn in California’s Los Padres National Forest throughout September, after first igniting on July 22. The blaze became the most expense fire to fight in US history ($235 million) and burned a total of 132,092 acres.
There was also a rare earthquake event noted in Oklahoma (magnitude-5.8) and flooding events in Canada and the US.
MetLife workers prepare to help the hungry
Employees from MetLife will join with non-profit Stop Hunger Now this week to package meals for the world’s hungry.
Five hundred insurance professionals in Cary, NC; Greenville, SC; Scranton, PA; Warwick, RI; Denver, CO; Tampa, FL; Dayton, OH; and Whippany, NJ will package around 200,000 meals Thursday ahead of World Food Day on Oct. 16.
“This event is an opportunity to raise awareness and encourage people to join the movement to end hunger,” says Kate Day, Vice President of Workforce Enablement at MetLife and Board Chair for Stop Hunger Now. “I’m proud to work alongside our employees in their commitment to improving the lives of others around the world.”
Are your clients suffering from “security fatigue”?
Despite cybercrime increasing exponentially, it seems that many of us are already tiring of the task of keeping our personal and business information safe.
A study by the National Institute of Standards and Technology (NIST) reveals that many people are suffering from “security fatigue” where the constant reminders to keep safe online are actually leading to riskier behavior.
“The finding that the general public is suffering from security fatigue is important because it has implications in the workplace and in people’s everyday life,” cognitive psychologist and co-author Brian Stanton said.
The survey of a broad demographic asked about their online activity at home and work.
Remembering multiple passwords and being on constant alert were among the issues uncovered and the result is a feeling of being overwhelmed and not in control of cyber security.
The responses highlight the potential risk to business from employees suffering security fatigue and become less diligent.
