Surge in Management Liability Claims Driven by Harassment Highlights Latest Clements Worldwide Risk Index Findings
NGOs and international schools are the leading industries experiencing loss from this growing trend
Washington, DC, April 19, 2018 (GLOBE NEWSWIRE) -- The rise of professional and management liability due to global harassment and abuse claims is a leading cause of loss and risk among global organizations, according to the 2018 Clements Worldwide Risk Index, released today in Lagos, Nigeria in an event held in collaboration with the U.S. Embassy in Nigeria.
The survey, which is released annually, found that 17 percent of the organizations surveyed shared they were subject to a lawsuit or litigation within the last six months, with industries such as international schools (28 percent), government agencies (25 percent) and government contractors (29 percent) the most impacted by this loss. Twenty-seven percent of NGOs and UN agencies reported that they had suffered a significant loss from professional and management liability.
The focus on professional and management liability risks, which also includes gender pay gap and duty of care, by NGOs and international schools are new to the top featured losses and concerns of the survey, and threaten the quality of education and services provided to students and beneficiaries of their care. This coupled with emerging threats such as natural disasters, which cost the world $306 billion according to Swiss Re, nearly double the cost of 2016, and legislation posing greater challenges to program and school operations, data protection and infrastructure, make life challenging for these industries.
"Having worked in this business for over 30 years, I thought that nothing surprises me anymore, but we did not anticipate seeing such a surge in management liability claims and for it to be such a huge loss for our primary two segments - NGOs and international schools," said Dan Tuman, President, Clements Worldwide. "In today's social climate, these trends make a clear case for organizations and industries everywhere to take steps to adapt their policies accordingly and prepare for the unexpected as no one is immune to risk."
And while respondents have shifted their attention to other losses besides political violence, more than 35 percent of respondents still express worry over increased threats of political violence and disruptions from elections or political environment, up from 27 percent last year. More conflict seems likely given the existing civil wars in Syria and Yemen, Al Shabaab in East Africa and Al Qaeda in West Africa.
Furthermore, political violence and disruption may present challenges leading up to some of the important elections on the schedule this year, including the Pakistani general election, Mexican presidential election and South Sudan general election this summer; and the Thailand general election, The Democratic Republic of Congo election and United States midterm elections later this year.
Among other results reported, almost a third of respondents said that a disruption due to terrorism is likely to happen in the next six to 12 months, with 58 percent of government agencies reporting terrorism as a significant concern.
Additionally, legislation and regulatory risk remains a primary concern with nearly 37 percent believing there will be an increase in bureaucracy for business processes and specific industries like NGOs and UN organizations sharing that nearly one in four had experienced high losses from changes in regulation.
These facts reinforce that last year's global legislation and political leadership worries surrounding the rise of nationalism, trade barriers and fluctuating currencies have been replaced this year with the United States increasing tariffs on steel and aluminum, greater deregulation and protectionism by President Trump, Brexit and renewed fallout from elections; and it may get worse before it gets better.
However, the culmination of these critical risks has not deterred an overwhelming majority of respondents surveyed from expanding their international operations, with only 13 percent saying they would delay, down from 37 percent last year, which reinforces that organizations are taking the shifting geopolitical risks seriously and adapting accordingly.
The survey reports responses from more than 500 senior risk management executives in the international education, IT, manufacturing, construction, government, banking, transportation, non-government organizations (NGO), tourism, education and oil and gas sectors. In addition to today's Lagos, Nigeria event, the survey will be featured at a panel discussion next week in Amman, Jordan.
The full 2018 Clements Worldwide Risk Index, which was conducted online from January to February 2018, is now available at clements.com/riskindex.
Clements Worldwide is a leading insurance provider for expatriates and international organizations. Founded in 1947, Clements offers international car, property, term life, disability, health, specialty, and high-risk insurance in over 170 countries. With offices in Washington, D.C., London, and Dubai, Clements delivers comprehensive and customized coverage, superior customer service, and unparalleled claims response. For more information on the Clements Worldwide Risk Index and the methodology associated with the survey visit www.clements.com/riskindex. To learn more or receive a quote online, visit www.clements.com .
Patricia Loria Clements Worldwide 2028720060 firstname.lastname@example.org
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Clements Worldwide via Globenewswire
Följ NASDAQ OMX
Abonnera på våra pressmeddelanden.
Senaste pressmeddelandena från NASDAQ OMX
YouGov poll reveals UK adults are seeking innovative, digital payment experiences from their banks16.7.2018 01:04 | Pressmeddelande
New research showcases a list of innovative ways we'd like better protection against fraud and a more active role in controlling our payment cards· Switching cards on and off for better fraud controls, quickly reactivating blocked cards and mobile app based self-service is the future London, UK, July 16, 2018 (GLOBE NEWSWIRE) -- UK adults are ready for real-time interaction with their banks. The results of a recent YouGov survey, on behalf of Ondot, revealed today that online security and fraud prevention comes top in what Brits think banks should guarantee, with 60% wanting 'peace of mind' when using cards online. The survey also discovered that consumers are keen to play a much more proactive role in managing their personal finances. New ways of managing their card services before, during and after a payment; how, when and where cards are used and the ability switch your card 'on' and 'off' to create extra vigilance against fraud - are all important to today's card user. The omnibus
Brookfield Asset Management 2018 Second Quarter Results Conference Call And Webcast13.7.2018 16:04 | Pressmeddelande
Date: Thursday, August 9, 2018 Time: 11:00 a.m. (Eastern Time) TORONTO, July 13, 2018 (GLOBE NEWSWIRE) -- Second Quarter Conference Call You are invited to participate in Brookfield Asset Management's 2018 Second Quarter Conference Call & Webcast on Thursday, August 9, 2018 at 11:00 a.m. (Eastern Time) to discuss with members of senior management our results and current business initiatives. These results will be released on August 9th before 7:00 a.m. (Eastern Time) and will be available following the release on our website at www.brookfield.com "News - Press Releases." The Conference Call will also be Webcast live on our website, where it will be archived for future reference. To participate in the Conference Call, please dial (877) 255-3077 toll free in North America, or for overseas calls please dial (647) 252-4453 at approximately 10:50 a.m. The Conference Call will also be Webcast live at https://event.on24.com/wcc/r/1795914/64490BD29FBE43FAF176E3AF02943920. For those unable to p
NP3 och Diös gör bytesaffär i Gävle13.7.2018 12:15 | Pressmeddelande
NP3 och Diös gör en bytesaffär i Gävle. Syftet är att ytterligare stärka närvaron i respektive geografiska fokusområden. Diös köper 5 centrala samhällsfastigheter av NP3 och NP3 köper 13 industri- och bygghandelsfastigheter av Diös. Tillträde sker per den 3 september 2018. De 13 industri- och handelsfastigheter som NP3 förvärvar motsvarar en uthyrningsbar yta om cirka 80 000 kvadratmeter i områdena Näringen och Sörby Urfjäll. De största hyresgästerna är Ahlsells, Trelleborg och Swedol. Fastighetsvärdet uppgår till 345 mkr. De 5 samhällsfastigheterna Diös förvärvar motsvarar en total uthyrningsbar yta om 17 000 kvadratmeter, där den största fastigheten är en projektfastighet i närheten av Alderholmen, vilken kommer inrymma ett nytt kontor för Trafikverket. Tillträdet avseende den fastigheten sker under kvartal 1 2019. Övriga hyresgäster är Migrationsverket och två friskolor. Fastighetsvärdet uppgår till 300 mkr. Transaktionerna sker i bolagsform och kommer att redovisas under tredje kva
Squirrels Research Labs Announces Acorn Cryptocurrency Acceleration Hardware12.7.2018 21:04 | Pressmeddelande
NORTH CANTON, Ohio, July 12, 2018 (GLOBE NEWSWIRE) -- Squirrels Research Labs today announced Acorn, a new hardware component that improves efficiency and effectiveness of cryptocurrency mining. "We developed a piece of hardware called Acorn that increases the effectiveness of existing GPU mining operations without adding a significant cost," Squirrels president David Stanfill said. "This is a brand new concept that's never been done before." Acorn works in sync with GPUs to offload work that typically creates bottlenecks in mining. It performs the work much faster, resulting in an increase in overall mining efficiency. Initially three models will be available: CLE-101, CLE-215 and CLE-215+. Each model uses high-performance FPGA chips from Xilinx Inc. (NASDAQ:XLNX) in an M.2 slot to perform the least GPU-efficient parts of cryptocurrency mining. All Acorn models work with memory-intensive algorithms like Ethash and CryptoNight V1. The 215 and 215+ models work with both memory-intensive
NRT & Sightline Secure Multi-Year Exclusive Agreement with Ocean Resort Casino12.7.2018 19:30 | Pressmeddelande
Atlantic City's newest resort casino opens with a seamless customer experience for omni-channel solutions LAS VEGAS, July 12, 2018 (GLOBE NEWSWIRE) -- NRT Technology Corp. and Sightline Payments, LLC (together "NRT Sightline") today announced that Ocean Resort Casino in Atlantic City, N.J. opened its doors with the full suite of NRT Sightline solutions, including Play+, QJ self-serve kiosks, Cash+ ATM, credit and debit advances, VisuaLimits table signs and analytics, and the full suite of NCC credit and compliance solutions. "NRT Sightline has invested in cutting-edge technology that gives us a competitive advantage, and we look forward to our long-term partnership with this world-class technology leader," said Alan Greenstein, Chief Financial Officer of Ocean Resort Casino. "Ocean Resort Casino is Atlantic City's showcase property for a truly omni-channel guest experience. As the lines that separate cash and cashless commerce converge in gaming, our solutions remove friction from the
VeriTransfer(TM) Unveils the First Known Proof-of-Concept for a Blockchain Enabled Firearms Licence Verification and Ownership Transfer12.7.2018 17:43 | Pressmeddelande
Blockchain Enabled Firearms Solution Ensures Instant Verification of Ownership and Safe Transfer While Maintaining Data Privacy TORONTO, July 12, 2018 (GLOBE NEWSWIRE) -- VeriTransfer(TM) today announced the completion of its Proof-of-Concept ("POC") of the first publicly announced Blockchain enabled solution that decentralizes the process of storing the ownership rights and transfer of firearms. VeriTransfer(TM) is also pleased to announce that it will donate a percentage of all future revenues or the proceeds from any future sale of the company towards foundations whose mission is to end gun violence and build safer communities. The Gun Epidemic & The Economic Impact The United States hosts 4.4% of the world's population, but almost 50% of the 644 million civilian-owned guns globally are located in the U.S. Disturbingly, more American citizens have died as a result of gunshots in the U.S. since 1968 than on the battlefield of all the wars in American history from 1175 to 2015. In add
I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt pressrum