Best From Around The Web For April 6th, 2018

By: | April 9, 2018
Topics: R&I ONE

Mexico Earthquake Devastation Spurs California Cities to Action, Despite the Costs
//Los Angeles Times
Some cities may spend up to $1 million to identify their most vulnerable properties.

Coastal Flooding on the East Coast Is Worsening, Causing Roadways to Suffer, Report Says
//Boston Globe
Tidal flooding jeopardizes more than 7,500 miles of roads along the East Coast, including more than 400 miles of interstate highway.

Brutal Choice in Houston: Sell Home at a Loss or Face New Floods
//New York Times
As climate change increases the frequency and intensity of storms like Harvey, no neighborhood is immune from being flooded again.

Homeowners in US Virgin Islands Sue Insurance Companies
//Virgin Islands Daily News
Owners with so-called “force-placed insurance” are filing lawsuits against various insurers, claiming their efforts to receive hurricane damage payouts are being ignored.

FEMA: Flood insurance premiums to rise this year
//Philadelphia Inquirer
Rates may increase by up to 25 percent for vacation homes, commercial properties and homes with repeated flood losses.

Hard Choice for Cities Under Cyberattack: Whether to Pay Ransom
//New York Times
Local governments are seen as more vulnerable than private businesses, both in their technology and in their limited ability to tolerate system failures and down time.

Cryptojacking Skyrockets to the Top of the Attacker Toolkit
//Business Insider
Detected incidents of unauthorized cryptocurrency mining, known as cryptojacking, increased by 8,500 percent in 2017.

EU Data Laws Risk Aiding Cyber Criminals, Internet Body Warns
//The Telegraph
The EU’s General Data Protection Regulation (GDPR) could compromise or close crucial databases used to identify and shut down attacks.

California Judge Rules That Coffee Requires Cancer Warning
Such a warning would likely apply to all coffee products sold, because of the costs and challenges of creating California-only packaging.

Judge Allows 2,300 Women to Proceed with Gender Bias Lawsuit Against Goldman Sachs
//The Independent
The lawsuit is one of the highest-profile cases targeting Wall Street’s alleged unequal treatment of women, a claim raised in a variety of litigation against many banks for decades.

Vaping Leading to New Generation of Nicotine Addicts
//New York Times
The growing vaping industry is targeting a youth audience, which many consider predatory marketing.

Japan to Place Accident Liability on Self-Driving Car Owners
//Nikkei Asian Review
Japan plans to hold owners responsible for accidents involving self-driving cars, easing liability concerns among automakers and likely accelerating commercialization efforts.


The R&I Editorial Team can be reached at [email protected]

The Profession

Curt Gross

This director of risk management sees cyber, IP and reputation risks as evolving threats, but more formal education may make emerging risk professionals better prepared.
By: | June 1, 2018 • 4 min read

R&I: What was your first job?

My first non-professional job was working at Burger King in high school. I learned some valuable life lessons there.

R&I: How did you come to work in risk management?

After taking some accounting classes in high school, I originally thought I wanted to be an accountant. After working on a few Widgets Inc. projects in college, I figured out that wasn’t what I really wanted to do. Risk management found me. The rest is history. Looking back, I am pleased with how things worked out.

R&I: What is the risk management community doing right?


I think we do a nice job on post graduate education. I think the ARM and CPCU designations give credibility to the profession. Plus, formal college risk management degrees are becoming more popular these days. I know The University of Akron just launched a new risk management bachelor’s program in the fall of 2017 within the business school.

R&I: What could the risk management community be doing a better job of?

I think we could do a better job with streamlining certificates of insurance or, better yet, evaluating if they are even necessary. It just seems to me that there is a significant amount of time and expense around generating certificates. There has to be a more efficient way.

R&I: What was the best location and year for the RIMS conference and why?

Selfishly, I prefer a destination with a direct flight when possible. RIMS does a nice job of selecting various locations throughout the country. It is a big job to successfully pull off a conference of that size.

Curt Gross, Director of Risk Management, Parker Hannifin Corp.

R&I: What’s been the biggest change in the risk management and insurance industry since you’ve been in it?

Definitely the change in nontraditional property & casualty exposures such as intellectual property and reputational risk. Those exposures existed way back when but in different ways. As computer networks become more and more connected and news travels at a more rapid pace, it just amplifies these types of exposures. Sometimes we have to think like the perpetrator, which can be difficult to do.

R&I: What emerging commercial risk most concerns you?

I hate to sound cliché — it’s quite the buzz these days — but I would have to say cyber. It’s such a complex risk involving nontraditional players and motives. Definitely a challenging exposure to get your arms around. Unfortunately, I don’t think we’ll really know the true exposure until there is more claim development.

R&I: What insurance carrier do you have the highest opinion of?


Our captive insurance company. I’ve been fortunate to work for several companies with a captive, each one with a different operating objective. I view a captive as an essential tool for a successful risk management program.

R&I: Who is your mentor and why?

I can’t point to just one. I have and continue to be lucky to work for really good managers throughout my career. Each one has taken the time and interest to develop me as a professional. I certainly haven’t arrived yet and welcome feedback to continue to try to be the best I can be every day.

R&I: What have you accomplished that you are proudest of?

I would like to think I have and continue to bring meaningful value to my company. However, I would have to say my family is my proudest accomplishment.

R&I: What is your favorite book or movie?

Favorite movie is definitely “Good Will Hunting.”

R&I: What’s the best restaurant you’ve ever eaten at?

Tough question to narrow down. If my wife ran a restaurant, it would be hers. We try to have dinner as a family as much as possible. If I had to pick one restaurant though, I would say Fire Food & Drink in Cleveland, Ohio. Chef Katz is a culinary genius.

R&I: What is the most unusual/interesting place you have ever visited?

The Grand Canyon. It is just so vast. A close second is Stonehenge.

R&I: What is the riskiest activity you ever engaged in?


A few, actually. Up until a few years ago, I owned a sport bike (motorcycle). Of course, I wore the proper gear, took a safety course and read a motorcycle safety book. Also, I have taken a few laps in a NASCAR [race car] around Daytona International Speedway at 180 mph. Most recently, trying to ride my daughter’s skateboard.

R&I: If the world has a modern hero, who is it and why?

The Dalai Lama. A world full of compassion, tolerance and patience and free of discrimination, racism and violence, while perhaps idealistic, sounds like a wonderful place to me.

R&I: What about this work do you find the most fulfilling or rewarding?

I really enjoy the company I work for and my role, because I get the opportunity to work with various functions. For example, while mostly finance, I get to interact with legal, human resources, employee health and safety, to name a few.

R&I: What do your friends and family think you do?

I asked my son. He said, “Risk management and insurance.” (He’s had the benefit of bring-your-kid-to-work day.)

Katie Dwyer is an associate editor at Risk & Insurance®. She can be reached at [email protected]