Business interruption insurance policies are designed to return companies to the position they were in before a loss. While that sounds quite simple, there are wide-ranging and complex factors that can undermine the effectiveness of a BI policy – and increase the risk of underinsurance, writes Lisa Williams, head of commercial property and casualty at Zurich Insurance.
The European Central Bank has said that it potentially lost data in a cyber-attack, in which hackers breached one of its sites using malware.
Brokers have warned policies may include exclusions for strikes, riots and civil commotion, as insurer risk appetites in the region wane amid continued protests in Hong Kong.
The Whaley Bridge incident has once again thrown the spotlight on insurers, their disaster plans and capacity issues. Alex Dalyac, founder and CEO, Tractable comments that while feet on the ground will never be totally replaced, the industry could be smarter in the future at dealing with these events using artifical intelligence.
In the latest in his series of Insurtechs to Watch, Post content director Jonathan Swift casts an eye over six more start-ups looking to make a splash in the UK insurance sector.
Homeserve Lab’s Leakbot is currently live and working with a wide range of insurers in the UK, Europe and the US. Post spoke to the company’s non-executive chair, former Axa UK CEO and Prudential UK and Europe CEO Mark Wood, to hear about its plans for Leakbot and what drew him to the business.
The London insurance market is facing a huge skills shortage as insurance firms struggle to compete for talent. While a huge number of baby boomers are retiring from the sector and taking those long-held skills with them, there is also a distinct lack of millennials filling the void from the bottom up writes Cameron Gallagher, strategic client director at Manpower Group.
The insurance industry has woken up to the growing criminal threat. However, Dennis Toomey, global director of counter fraud analytics and operations at BAE Systems, highlights that much investment in this area has focused on the external threat.
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We are excited to announce that @SFoodbanks and the Sunday morning initiative team will be joining us at this years @WDragonboat ! The team will have their collection van so bring any food donations you can for local foodbanks #HungerDoesntWearClubColours #CharityTuesday pic.twitter.com/UT9Diup11C— Carpenters Group (@CarpentersGroup) August 20, 2019
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