Firms partner to help insurers share flood risk data
Global technology company Pitney Bowes and hazard-modeling specialist JBA Risk Management have announced a partnership to help global insurance industry benefit from extended, precise flood risk management. The collaboration will bring JBA’s datasets on areas at risk of flooding together with Pitney Bowes’ ability to create clear and detailed visual assessments of those areas.
ACE increases capacity for fine arts and specie
The London-based wholesale insurance division of ACE Group has announced improved capacity for investors in fine art and specie. ACE Global Markets says that there is increased demand for this type of insurance coverage and it is increasing capacity to $100 million. The division provides coverage for art, general specie (coins), cash in transit and jewelers block for clients worldwide. The firm has added another member to its team of underwriters.
Disaster-reduction inventors meet in Switzerland
Geneva, Switzerland was awash with inventors last week as attendees from 48 countries unveiled their innovative solutions for disaster reduction. Among the ideas were various ways to try to make buildings earthquake-proof including one involving hanging buildings on a multipoint suspension so that they are not actually constructed on foundations. There was also a design to shut off gas supplies in the event of a quake and various options for reducing vibrations from tremors. Many of the inventors were from Asian countries, many of which are most at risk from the changing climate and increased incidents of earthquakes and other natural disasters.
Actress joins with insurance commissioners for awareness campaign
TV and movie actress Kimberly Williams-Paisley is joining the National Association of Insurance Commissioners for a new campaign. The association’s InsureU campaign will benefit from the Nashville and Father of the Bride star’s own experience of unexpected family illness. The idea is to highlight the importance of insurance planning and Kimberly said: "That helpless feeling [after a diagnosis] is one our family knows all too well which is why I've partnered with the NAIC. Their free and unbiased resources would have been helpful for us as we navigated mom's illness, and I'm confident these resources will help the millions of American families facing similar situations."
