The Risk Management Blog
From the monthly archives:
Travel often? Airport food may not be as safe as you thought it was. “A USA TODAY review of inspection records for nearly 800 restaurants at 10 airports found items such as tuna salad and turkey sandwiches stored at dangerously warm temperatures, raw meat contaminating ready-to-eat foods, rat droppings and kitchens lacking soap for workers [...]
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Travelers has set up a new catastrophe bond, named Longpoint Re II. The new “Cayman Islands special purpose vehicle” will provide $250 million of reinsurance from losses resulting from certain hurricane events in the northeastern United States. “The reinsurance purchased from Longpoint Re II is intended to work in conjunction with Travelers’ traditional reinsurance to [...]
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Ernst & Young was fined $8.5 million for violating securities laws while auditing Bally’s Fitness. “In 2002, worried about growing financial scandals, the audit firm of Ernst & Young set out to identify its riskiest clients and force them to comply with accounting rules. The effort backfired.” On the violations, SEC enforcement division director Robert [...]
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Despite President Obama’s plea to the Copenhagen climate summit (“While the science of climate change is not in doubt, I think our ability to take collective action is in doubt right now, and it hangs in the balance”), it is looking more and more like the philosophical differences and logistical squabbles between the developed and [...]
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