Industry News
Russian Cyber Attacks May Test Insurer War Exclusion Policy Language
The Russian invasion of Ukraine has increased the risk of cyber attacks and potential claim costs for property/casualty insurers globally that offer cyber coverage, the majority of which is ...
‘Essential’ MGAs, Other DUAEs Face Inflation, Staffing Pressures: AM Best
Taking a deep dive into the world of managing general agents and other delegated underwriting authority enterprises, AM Best reports that premiums generated by DUAEs are climbing, and interest in MGA ...
Executives on the Move at Lloyd’s, Sandbox, Sure
Lloyd's of London has appointed Sara Gomez as chief people officer (CPO). She will focus on developing Lloyd's talent, leadership and inclusion strategy. She brings experience as a CPO from a career ...
Funds Transfer Fraud Skyrockets in 2021; Small Businesses Hit Hard
Cyber claims from small and midsize businesses saw a "material uptick" in 2021, with funds transfer fraud a main culprit, according to cyber insurance and security firm Coalition. According to its ...
Analysis: Russian Ransomware Attacks on Ukraine Muted by Leaks, Insurance Exclusion
Warnings that pro-Russian ransomware gangs would snarl networks in Ukraine and its allies have so far failed to materialize amid disarray among the criminal underworld often behind such attacks and ...
Insured Losses From February’s Windstorms in Europe Could Reach $5B: RMS
Insured losses from February's windstorms Dudley and Eunice will likely fall between $3.4 and $5.1 billion (3.0 and 4.5 billion euro), with Germany accounting for around 40 percent of the total loss, ...
James River Reserve Charge, ‘Strategic Actions’ Won’t Damage AM Best Rating
AM Best announced on Tuesday that the rating agency won't change the A- (Excellent) financial strength ratings for the operating subsidiaries of James River Group Holdings, Ltd., a day after the ...
D&O Loss Ratios Unchanged by Rate Hikes: Supply Disruption to Fuel Suits
Directors and officers liability insurance premium rate hikes have not had the anticipated impacts on loss ratios that carriers had hoped for, AM Best reported Monday, citing the impact of social ...