Cyber
Changing nature of cyber threat leads to ‘brittle’ risk landscape
Beazley’s group chief underwriting officer, Paul Bantick, has said the cyber pricing environment is at a “pivotal stage”, describing it as “brittle” due to the changing threat landscape.
LMA chief calls for international collaboration to cover large losses
Sheila Cameron, CEO of the Lloyd’s Market Association, has called for the industry and global government bodies to collaborate more in order to fill the protection gap currently present for large, catastrophic risks.
A giant leap forward for bancassurance
What steps banks and insurance companies are taking today to offer cover in fresh ways, plus the giant leaps being taken to reshape bancassurance sooner rather than later, is investigated by Emma Ann Hughes.
Google warns cyber attackers are targeting insurers
Google’s Threat Intelligence Group has warned “the insurance industry should be on high alert” after analysts spotted several US insurers are being targeted using Scattered Spider tactics.
Marsh launches €1bn data centre construction facility
Marsh has launched Nimbus, an insurance facility which covers the construction of large-scale data centres across the UK and Europe.
Retail attacks lay bare everyday cyber security challenges
While headlines about recent cyber attacks suffered by UK retailers, such as M&S, may renew interest in cyber insurance, the attacks are not a departure from the threat landscape companies already faced, market experts have told Post.
Weightman’s AI tool; Markel’s insurtech product; NFL player promoted
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
M&S attack proves public-private cyber risk pool is required
Editor’s View: The cyber attack against M&S shows insurance alone can’t swoop in to save the day when cyber criminals attack major retailers, so the government must partner with providers now to ensure national resilience, argues Emma Ann Hughes.
Aon using AI to identify insurer breaking points
Aon UK CEO Jane Kielty has revealed the broker is using artificial intelligence to identify points in the negotiation process where it may be able to extract more favourable terms from insurers.
Cyber events halt 1 in 7 businesses for at least a day
One in seven businesses have lost a day or more to a cyber event in the last 12 months, according to global research for commercial insurer QBE.
Ransomware ban could lead to higher claim costs
The government’s proposed ban on ransomware payments is “well intentioned” but lacks “nuance”, according to Tom Egglestone, head of international claims at Resilience.
Diary of an Insurer: Markel’s Nick Line
Nick Line, chief underwriting officer of Markel, empowers underwriters, put his coffee order in first thing through the Markel app on his phone, identifies pressing issues as chair of Inclusion at Lloyd’s and reads about developments in cosmology and…
Markel’s Lowther on the risks of AI adoption for SMEs
As artificial intelligence adoption among SMEs accelerates in pursuit of greater efficiency, growth and competitive edge, Mark Lowther, head of technology for Markel in the UK, says businesses must also confront the growing legal, ethical and…
AI audio redaction to unlock insurer information sharing
Artificial-intelligence powered redaction is set to unlock increased information sharing and collaboration for insurers, according to Pimloc CEO Simon Randall.
ABI’s updated salvage code; CFC’s cyber masterclass; Gallagher’s property MD
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
What lessons should the industry learn from retail cyber attacks?
Following several high-profile cyber attacks against retail businesses in recent months, figures throughout the insurance industry have highlighted the importance of comprehensive risk management, alongside robust cyber cover.
Professional indemnity insurance for lawyers and accountants
Danny Seaman, professional indemnity specialist at Miller, Peter Stephens, head of PI at Westfield Specialty, and Matthew Harvey, account director of ProFin at the Clear Group, reveal what is behind the softening of the professional indemnity insurance…
Could aviation insurance be about to skyrocket?
David Worsfold examines how an increasing number of claims and capacity issues are changing conditions in the airline insurance market.
How insurers should tackle the luxury watch theft crisis
Rob McCarthy, non-executive director at insurtech Embri, outlines how the insurance industry can take a proactive role in tackling high-value item crime.
Markel’s Galjaard outlines plan to double the UK business
Markel’s UK managing director Neil Galjaard shared the business has just signed off a growth strategy that aims to double the size of the business by 2030.
Aviva and CyberCube track cyber attackers’ behaviour
Aviva and CyberCube are using artificial intelligence to map the behaviour of cyber threat actors and identify what businesses could soon be attacked.
Ardonagh’s rebrand; Google Cloud’s expansion; Insure Your Paws’ product
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
What Tiernan will find in the Lloyd’s CEO in-tray
Editor’s View: As Patrick Tiernan prepares to succeed John Neal as CEO of Lloyd’s at the start of June, Emma Ann Hughes reflects on what is in his in-tray, plus what is in his toolkit, to consider how he could transform and leave a lasting mark of the…
Hiscox warns how tech insurance bubble could burst
Hiscox’s head of technology, Adam Atkins, has warned that the influx of new competition into the market could lead to another event which would see many exits in the sector.