Boston-based catastrophe modeling firm AIR WORLDWIDE released an enhanced typhoon model for the Northwest Pacific Basin. The model, which was released in Version 12.5 of AIR's CLASIC/2 and CATRADER software, features a comprehensive catalog of simulated storms to provide a view of typhoon risk affecting Japan, mainland China, the Philippines, Hong Kong, Taiwan and, with this latest release, South Korea.
METHODWARE released its ERA Kairos, a new governance, risk and compliance (GRC) software platform. This latest version gives users the power of personalization for all GRC functions, so data and workflows can appear exactly as required and be changed as needed.
ISO launched the ISO Casualty Index, a new service providing loss ratio and loss development trends for select lines of casualty insurance. The index is based on ISO's statistical data collected from more than 700 insurer groups throughout the United States and containing more than 15 billion transactional records.
The NATIONAL ALLIANCE FOR INSURANCE EDUCATION & RESEARCH announced that its first Certified Risk Managers International Online Classroom course will be open to all insurance and risk management professionals. The initial five-week offering will be Principles of Risk Management from August 22 to October 2, 2011, a blended learning course featuring a weekly webinar, readings, quizzes and discussion postings.
Marketing firm MCMURRY launched an iPhone app for insurance brokerage AON, which will allow users to personalize their access to and share valuable business-to-business content from One, a globally distributed magazine that McMurry produces for Aon.
USI AFFINITY released a white paper that discusses risk management in the legal community. Titled "The Importance of Taking a Pro-Active Approach to Risk Management in the LPL Marketplace," it highlights multiple methods of risk management and how to implement them at a legal practice.
The MICROINSURANCE CATASTROPHE RISK ORGANIZATION (MICRO) was launched by a syndicate of insurance stakeholders to empower Haiti's microentrepreneurs to protect themselves against severe natural catastrophes. Policies issued by MiCRO will provide microfinance clients with financial protection against destruction caused by specific natural catastrophes using an innovative settlement process through the use of parametric triggers.
CLUB MANAGERS ASSOCIATION OF AMERICA (CMAA) will have exclusive rights to distribute the ClubCover umbrella insurance product from VENTURE INSURANCE PROGRAMS to clubs managed by its members. ClubCover is a monoline umbrella liability coverage for golf and country clubs offering a $25 million limit and on an admitted basis through a risk purchasing group (RPG).
STARR AVIATION AGENCY INC. developed a small business unit within its workers' comp division that will offer guaranteed-cost workers' comp policies from the CHUBB GROUP OF INSURANCE COS. The target accounts include small airports, charter operations, fixed based operators, agricultural operations and industrial aid. The minimum premium threshold is $2,500 for accounts that have supporting aviation lines placed with Starr Aviation and $5,000 for monoline accounts.
April 5, 2011
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