Morgan O'Rourke

1 month ago | rmmagazine.com | Morgan O'Rourke

A recent Swiss Re Institute study found that natural habitats can significantly reduce coastal flood losses. Researchers examined more than a decade of National Flood Insurance Program claims data cross-referenced with geospatial information about U.S. coastal areas.

Jan 16, 2025 | rmmagazine.com | Morgan O'Rourke

Whether due to natural disasters, extreme weather, disease epidemics, or geopolitical and economic instability, the risk landscape has rarely felt more chaotic. In fact, according to International SOS’s Risk Outlook 2025, 65% of senior risk professionals surveyed perceive that risks have increased in the past year. This volatility is taking a toll on people’s health and wellbeing.

Sep 11, 2024 | rmmagazine.com | Morgan O'Rourke

According to IBM’s latest Cost of a Data Breach Report, the global average cost of a data breach increased to $4.88 million in 2024, a 10% jump over the previous year. The increase was primarily driven by rising business disruption costs like system downtime, lost customers and reputation damage, and post-breach response expenses such as call center staffing, regulatory fines and credit monitoring services for customers.

Jun 24, 2024 | rmmagazine.com | Morgan O'Rourke

In a study by cybersecurity software provider CYE, 80% of insured companies that suffered a data breach reported they did not have adequate coverage to offset the losses incurred. In fact, the average coverage gap was 350%, meaning that more than 75% of the costs from an incident were uninsured, amounting to an average uncovered loss of $27.5 million and an estimated 2.9% of company revenue. In some cases, the maximum coverage gap reached as high as 3,000%.

Nov 30, 2023 | rmmagazine.com | Morgan O'Rourke |Hilary Tuttle

Businesses around the world faced no shortage of risks in 2023, whether it was from natural disasters and climate impacts, cybersecurity and artificial intelligence threats, or regulatory and compliance concerns. Here is a review of some of the year’s most notable risk events, highlighting top challenges risk professionals had to address in 2023 and some that will shape the risk landscape moving forward into 2024.