Advisen offers a variety of sources to keep on top of the P&C Insurance News. Advisen journalists publish stories in Front Page News every week. Here are some of the latest stories.
NEW YORK — The cyber insurance industry has a long way to go toward offering the capacity and coverage the market needs, but the journey has begun, according to experts speaking during Advisen’s Cyber Risk Insights Conference in October. Dominic Casserley, current president and deputy CEO of Willis Towers Watson, told a packed room that […]
NEW YORK—Cyber underwriting has come a long way from the early years. “Back in 1999 and 2000 an account came in and you sent it off to a service provider, they did a report and you went to your X, Y grid of retentions and limits and came up with a price per million; that’s […]
Federal cybersecurity may seem like a costly endeavor, but a new report suggests that government agencies could save up to $5 billion annually if they focused on monitoring threats more effectively and automating responses to those threats. A new report from MeriTalk indicates that federal agencies can’t protect themselves quickly enough against attacks, nor can […]
Catastrophe modeler AIR Worldwide said insured losses will be between $762 million and $3.5 billion from the powerful South Island, New Zealand earthquake on November 14. The estimated cost translates locally to between NZD 1.15 billion and 5.3 billion. “More than 80,000 landslides and 2,600 aftershocks have been recorded following the massive earthquake that struck […]
Acknowledging the leadership role that should be played by the federal government in cybersecurity, the Center for Long-Term Cybersecurity at University of California at Berkeley recently outlined a few recommendations for the administration taking office in January. “In two months, a new President will take office. That President will face the most expansive cybersecurity agenda […]
The holiday shopping season may place additional stress on retailers but, after several years of high-profile retail data breaches, cybersecurity has become a year-round pursuit for them, according to a new report from Bay Dynamics. “IT and security professionals say they feel pressure year-round to secure their organizations, not just during the holidays, versus in […]
Small to mid-sized businesses in the US show more concern about cyber crime, including losing customer data.
Aon Risk Solutions this week launched one of the broadest cyber insurance offerings in the market in response to client demand for a single policy to address cyber-related property damage, bodily injury, product liability, vendor and supply chain risk, as well as privacy liability. According to Stephanie Snyder, cyber practice sales leader for Aon Risk […]
After nearly three years as chair of Lewis Brisbois’ data privacy and network security practice, John Mullen—and his entire team of attorneys—are leaving to start a new law firm dedicated to data privacy as addressed by the insurance industry. “We believe we are the first law firm ever with our breath of experience totally dedicated […]
The US P&C insurance industry saw a streak of net underwriting profitability come to an end when it recorded a loss of $1.5 billion in the first half of 2016, compared with a $3.5 billion underwriting profit in the first half 2015. The loss marked the industry’s first year-to-date net underwriting loss in more than […]