Industry News
Munich Re: Supply Chain, Ransomware Threats Top 2023 Cyber Risks
Global costs of cyber crime are expected to surge within the next five years, rising from an estimated $11 trillion in 2023 to nearly $24 trillion by 2027, according to the latest cyber insurance ...
What to Expect: WTW Spring Commercial Insurance Forecasts Mixed
In striking contrast to last year's double-digit rate hikes for public directors and officers liability insurance and 100-200 percent jumps for cyber coverage, some buyers renewing those coverages ...
MGAs, DUAEs Sparked Double-Digit Growth in ’22 U.S. Premiums: AM Best
Direct premium written through the Delegated Underwriting Authority Enterprises (DUAE) market in the United States continued its significant growth rate in 2022, increasing by 13.8 percent to $67.6 ...
Fed Report on SVB Collapse Could Buoy Shareholder Lawsuits
A scathing Federal Reserve report on the collapse of Silicon Valley Bank released on Friday could be a boon to shareholders suing the defunct lender's executives for allegedly hiding risks that led ...
34% of Workplace Injuries Occur in First Year on the Job: Travelers
More than a third of workplace injuries occur during employees' first year on the job, regardless of age or industry experience, according to a new report from Travelers. In fact, an employee's time ...
AIG, Stone Point Finalize Deal to Start MGA for High-Net-Worth Business
American International Group said it has finalized an agreement with private equity firm Stone Point Capital to form Private Client Select (PCS) Insurance Services. PCS will be an independent ...
Q1 Net Income Up 21% at The Hartford but Personal Lines Unprofitable
The Hartford reported first-quarter 2023 net income of $535 million, nearly a 21 percent increase over $443 million a year ago. In the company's property/casualty segments, results were carried by ...
Survey: Economic and Cyber Risks Lead Global D&O Concerns
At the top of increasing concerns for directors and officers around the globe are economic, geopolitical and cyber risks, according to the latest Directors and Officers Liability 2023 Survey released ...