Approach to risk has been challenged by 2011 catastrophes says Marsh

japan-tsunami-pa-photos

Marsh claims that the severity of casualty losses in 2011 has challenged established thinking on the nature of risk and that businesses need to re-examine their risk management strategies.

In a paper entitled Lessons Learned from the Catastrophes of 2011, Marsh identified five major risk and insurance topics arising from 2011: denial of access; strike, riot, civil commotion or terrorism; the differences between flood and storm damage; contingent business interruption; and 72-hour insurance notification clauses.

David Pigot, chairman of Marsh’s Global Claims Practice, commented: “While the risks associated with the events of 2011 were largely understood, their sheer scale and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

Register

Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: