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| Today's Headlines | June 21, 2021 |
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While ransomware was the hot topic at 2021 midyear insurance industry conferences, discussions of the broader topic of systemic risk—spurred on by recent hacks of SolarWinds and Microsoft Exchange—had underwriters talking about fixes beyond rate hikes. One session on cyber insurance trends at the Casualty Actuarial Society Seminar on Reinsurance in June, coincidentally, took place... read more | | |
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The enhanced ability to innovate is a principal motivator for Aon's proposed acquisition of Aon and Willis Towers Watson. It's a message that Aon CEO Greg Case has been emphasizing since the $30 billion deal was announced in March 2020. For the past three centuries, the insurance industry has essentially assessed risk in the rearview... read more | | |
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"It was the best of times, it was the worst of times." The introduction from Charles Dickens' "A Tale of Two Cities" may be an apt description of today's property insurance landscape. While numerous opportunities exist, insurers face a variety of challenges – some often unforeseen. read more | | |
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With cyber attacks and insurance claims on the rise, leading cyber insurers AIG, AXIS, Beazley, Chubb, The Hartford, Liberty Mutual Insurance and Travelers have formed a company to pool their data and expertise and take collective efforts to enhance cyber risk mitigation efforts across the insurance industry. The new entity, called CyberAcuView, will compile and... read more | | |
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Late last week, Lloyd's announced that the marketplace has secured a five-year £650 million (roughly $900 million) reinsurance cover for its Central Fund—a move should protect against severe tail risk and supports market growth. According to a media statement, the £650 million protection, structured and placed by Aon, is supported by a newly created cell... read more | | |
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A judge has ruled in favor of a group of hotels whose owners sued their insurance carriers over lost business during the coronavirus pandemic. Businessman Mark Stebbins of Schleicher & Stebbins Hotels, LLC, one of the plaintiffs, said the pandemic caused tens of millions of dollars in lost revenue for about two dozen hotels in... read more | | |
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Most Americans don't expect a return to normal travel until 2022, according to a new Generali survey, which mean smaller numbers will take a summer vacation this year than before COVID-19 hit. read more | | |
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Akur8, the Paris-based InsurtTech firm that automates insurance pricing, has closed a Series B funding round of $30 million, bringing its total funding to $42 million. This latest funding round will accelerate Akur8's international expansion, with a particular emphasis on furthering its U.S. footprint and establishing a presence in Asia Pacific in 2022. The funding... read more | | |
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| | For customer-focused insurers looking to expand into new markets, the ability ... read more | |
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| | Identity thieves are increasingly targeting non-financial accounts, including ... read more | |
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| | Against the backdrop of digital transformation and the pandemic, insurers can ... read more | |
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| | Your insurance brand needs people, and people need your brand, so how do you ... read more | |
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| | Striking the right balance between automation and the human touch is a top ... read more | |
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