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| Today's Headlines | October 1, 2021 |
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With the cyber risk hazard environment—ransomware, business interruption and aggregation—worsening significantly, "prospects for the U.S. cyber insurance market are grim," according to a report from AM Best. According to the global rating agency's analysts, insurers "urgently need to reassess all aspects of their cyber risk, including their appetite, risk controls, modeling, stress testing and pricing,... read more | | |
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The pandemic caused economic and insured losses from cyber attacks to skyrocket, which has heightened awareness of the risk and increased demand for cyber re/insurance, according to a report published by S&P Global Ratings. read more | | |
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Over the past two years, small and medium-sized businesses (SMBs) have faced unprecedented challenges and changes such as reduced workforce, supply chain interruptions due to COVID-19, and reduced or shifting revenue. In weathering these upheavals, SMBs have reevaluated how they do things from the top... read more | | |
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During a session of the Casualty Actuarial Society Seminar on Reinsurance in June, Alexander Podmore, AVP and cyber underwriter for Swiss Re, defined a growing problem for cyber insurers—ransomware—and shared some data to underscore just how bad things are getting. Ransomware is a form of malware that enters an insured's network causing an encryption of... read more | | |
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Loop, a managing general agency InsurTech focused on auto insurance, raised $21 million in new financing from multiple investors to help fuel ongoing expansion plans into additional states. read more | | |
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Shareholders at State Auto Group voted overwhelmingly to approve Liberty Mutual Holding Company's $1 billion plan to buy the company. read more | | |
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Britain's financial sector has called on the government to ease visa requirements on overseas staff who want to work up to six months in the country to maintain global competitiveness. read more | | |
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Allianz Suisse Life has agreed to transfer to Resolution Re a legacy portfolio of individual life products, which have a reserve volume of around 4 billion Swiss francs ($4.3 billion). read more | | |
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Amazon.com Inc and the U.S. National Labor Relations Board (NLRB) said on Wednesday the company had reached a settlement with two former employees who alleged they were fired last year for criticizing the working conditions at the e-commerce giant's warehouses. read more | | |
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| | Commercial underwriting executives share tips on their digital transformation ... read more | |
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| | Insurers are facing a moment of truth. How they respond today will lay the ... read more | |
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| | The arrival of new aerial imagery providers gives insurance carriers the ... read more | |
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| | Business email compromise, or BEC – defined as a fraud tactic using email to ... read more | |
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| | Want to add a direct-to-consumer distribution channel to your sales line-up? ... read more | |
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