risk News

Small Businesses See Stable Business Climate; Cite Cybersecurity as Top Threat

The first quarter Small Business Index, which measures small business owner confidence, is 62.3—similar to last quarter’s score of 61.3—reflecting a stable business climate. More small businesses see an improving economy, which drove the headline score up one point. One …

Texas Among Several States Facing New Fire Risks: Weather Watch

More than 2.5 million people in the US face critical fire weather conditions on Monday as dry winds sweep parts of New Mexico, Colorado, Kansas, Oklahoma and Texas, which had the largest fire in the state’s history earlier this year. …

US Wildfires Are Getting Bigger and More Complex, Prompting Changes in Firefighting

It’s shaping up to be a long wildfire season, with Texas already seeing its largest blaze in recorded history and firefighters becoming overwhelmed with recent blazes in Virginia. Just in the first three months of the year, more than 2,669 …

Viewpoint: Striking Risk-Reward Balance for Shipping Lithium-Ion Batteries

Executive Summary: While the advancement of technology in electric vehicles and other lithium-ion powered goods facilitates energy transition from fossil fuels, the fire risks associated with such products need proactive management, writes Dr. William Moore, global loss prevention director, The …

US, Britain Announce Formal Partnership on Artificial Intelligence Safety

The United States and Britain announced a new partnership on the science of artificial intelligence safety, amid growing concerns about upcoming next-generation versions. Commerce Secretary Gina Raimondo and British Technology Secretary Michelle Donelan signed a memorandum of understanding in Washington …

Study: Homes in Idaho, Florida, Nevada Gained Most Value in the Last Decade

Idaho topped the list of states where homes gained the most value over a decade, a study using Zillow data shows. Idaho, with an average 171.03% increase in average value from $159,567 in 2013 to $432,476 in 2023, was followed …

States Across the US Midwest Are on Alert for Tornadoes: Weather Watch

Storms and tornadoes are in the forecast for states across the Midwest in the US, with further weather warnings and advisories stretching further east. There is a moderate risk of severe thunderstorms — which could bring hail, tornadoes, and straight-line …

New Jersey Property Flood Risk Disclosure Law Going Into Effect

A New Jersey law requiring residential and commercial landlords and sellers of real estate to disclose any flood history and potential flood risks to prospective renters and purchasers goes into effect Wednesday, March 20. Prior to the adoption of the …

Government Commissioned Report: AI is Creating New Categories of Weapons of Mass Destruction

A U.S. State Department-commissioned report asserts that advanced artificial intelligence is creating entirely new categories of weapons of mass destruction-like (WMD-like) and WMD-enabling catastrophic. The risks associated with these developments are global, have deeply technical origins and are quickly evolving, …

FEMA Expands Reinsurance Program by Transferring $575M in Flood Risk to Capital Markets

The Federal Emergency Management Agency in an effort to engage reinsurance markets to bolster the financial framework of the National Flood Insurance Program and promote private sector participation in flood-risk management has again obtained reinsurance coverage through insurance-linked securities reinsurance. …