According to Martin Wolf’s newest book, The Shifts and the Shocks: What We’ve Learned – and Still Have Time to Learn – From the Financial Crisis, probably not.
We caught up with Wolf at his most recent book tour event hosted by The Chicago Council on Global Affairs and Zurich at The Standard Club in Chicago, where he explained a little bit about how the world economy got to be where it is today, and what we could expect in the future.
On the heels of the United States’ first Ebola virus diagnosis this year, the healthcare industry has been faced with an interesting question: Are U.S. hospitals prepared to handle the Ebola virus?
It’s a valid query.
This post was contributed by Cindy Slubowski, Vice President, Head of Manufacturing at Zurich North America
Quickly scan news headlines and you’ll realize factory fires—despite being extremely preventable—are all but extinct.
In August, we were pleased to announce the creation of a private equity unit within the Global Corporate in North America (GCiNA) business entity.
We are now even more excited to announce that, leading that new group is Paul Schiavone, who joined the Underwriting Leadership Team on Aug. 1 as head of Private Equity, to emphasize a customer-centric focus for Zurich’s work with private equity and portfolio companies.
Schiavone has more than 13 years of experience within the financial lines and insurance industry, working previously for AIG and the American Wholesale Brokerage in San Francisco, New York, and Paris. Joining Zurich in 2006, Schiavone previously served as the general insurance global chief underwriting officer for special lines in the United Kingdom.
We are so pleased to have him in this new role. Congratulations, Paul!
The complexities of insuring some of businesses’ most complicated risks
This post was contributed by David Anderson, Senior Vice President, Global Business Development
Is it possible for risks to be uninsurable?
Earlier this month, our friends at Risk & Insurance answered yes. In their article, Top Five Uninsurable Risks, the top five — reputational risk, regulatory risk, trade secret risk, political risk, and pandemic risk, have complexities and nuances that, according to the article, make it impossible for risk managers to find total coverage.
This sparked an internal discussion at Zurich surrounding political risk.
By now, I’m sure we’ve all heard about the latest private celebrity photos to hit the internet.
This time, according to Gawker, the iCloud accounts of A-listers Jennifer Lawrence, Avril Lavigne, Kate Upton, Lea Michelle, and McKayla Maroney, among others, were allegedly hacked. Hackers allegedly stole hundreds of revealing photos from the stars’ iPhones and other personal Apple devices through the iCloud.
What the recent Ebola outbreak and other pandemics can teach us about protecting ourselves and our businesses
Since it was first discovered in early March, the Ebola outbreak in West Africa has reportedly taken 1,546 lives and infected about 3,052 others — a number that is likely to grow rapidly as affected countries (Guinea, Liberia, Nigeria and Sierra Leone) struggle to contain the disease, according to the World Health Organization’s website.
While the disease has moved to other countries (two U.S. cases, and others in the Middle East), the virus has mainly been contained to one continent.
But, this latest outbreak has raised some important questions for travelers, the healthcare industry, travel-related services, and any businesses with operations or workers in affected areas because of the potential for the disease to spread.
In August, the American Red Cross and Zurich teamed up to host the 5th Annual Disaster Preparedness Summit at Chicago’s Gleacher Center. This year’s goal: Discuss recovery and coordination.
The summit, which has taken place each year since 2012, focused on providing participants with disaster planning tools and resources to keep essential operations running and coordinate relief efforts following a disaster. In other words, to help keep communities and businesses up and running when a tornado, hurricane, or earthquake occurs.
Attendees included disaster teams from various major companies as well as police and fire teams, and representatives from FEMA, among others.
Mike Foley, a Zurich CEO, spoke about the importance of the summit in the opening address.
So many participants had great notes and tips to share this year that we felt the need to share them with you. Take a look at a few of our favorite tips from this year’s Disaster Preparedness Summit:
In July, Amazon announced the launch of an online store for 3-D printed items to allow consumers to customize and personalize over 200 items like dolls, jewelry, and cookie cutters, to name a few.
“The introduction of our 3-D printed products store suggests the beginnings of a shift in online retail that manufacturing can be more nimble to provide an immersive customer experience. Sellers, in alignment with designers and manufacturers, can offer more dynamic inventory for customer to personalize and truly make their own,” said Amazon’s Petra Schindler-Carter in a statement.
A shift indeed, has taken place. Not only is it allowing consumers to personalize products, it’s allowing them to create and sell them. Today, it has become possible for anyone to buy and use 3-D printing to create food, shoes, organs, almost anything. That, along with the added incentive to bring products to market in a fraction of the time, has become extremely attractive to the manufacturing industry.
Is this a new business opportunity for insurers?
Did you know that Fantasy Football participants can buy real insurance that provides coverage when players on their teams have season-ending injuries?
… Let that sink in for a second.
Fans across the nation rejoice!