Industry News
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 ...
Executives on the Move at Cowbell Cyber, Munich Re
Cowbell Cyber, an AI-powered cyber insurance provider for small-to-medium enterprises (SMEs), has appointed Kara Owens as its first chief insurance officer. She will oversee reinsurance partnerships, ...
Tech Bytes: New Partnerships at Swiss Re Corporate Solutions, Sensa, Shift Technology
Swiss Re Corporate Solutions and The Hartford entered into a strategic agreement that expands The Hartford's network of global partners, giving the company's multinational customers broader access to ...
Liberty Mutual Closes Deal for State Auto Group
Liberty Mutual Insurance said it completed the all-cash deal of about $1 billion for super-regional insurer State Auto Group. The transaction was originally announced in July 2021. Now that it gained ...