Cyber insurance and the return of profitability and investment Introduction: Ryan Griffin, a partner in the cyber team at McGill and Partners in Chicago, discusses the evolving landscape of cyber insurance. Griffin sees a return to profitability in the cyber insurance market due to changes in ransom victim behavior, tighter coverage, and higher … Read more
“The future is here; it’s just uneven.” Introduction: Bill Pieroni, CEO of the Association for Cooperative Operations Research and Development (ACORD), discusses the vital role of risk managers in the ever-changing insurance industry. Pieroni emphasizes the significance of understanding the customer’s role and digital maturity in shaping the industry. The Role of Risk … Read more
“It’s a relatively complex web.” Introduction: Alex Toews, Director at Fusion Risk Management, discusses the evolving landscape of operational risk and its significance for financial resilience. Toews emphasizes the interconnectedness of financial and non-financial risks in the current risk landscape. Impact of Fee-Based Activities on Operational Risk: Toews believes that recent re-lensing around … Read more
Learning is more than half the battle – climate head’s perspective on the insurance gap. Introduction: Ernst Rauch, Chief Climate and Geo Scientist at Munich Re discusses the challenges and strategies for addressing the insurance protection gap in the face of climate change. Rauch emphasizes the importance of data analysis and public-private partnerships … Read more
Behind the climate risk-driven insurer retreat and how it could spread to Asia Introduction: State Farm’s exit from insuring new homeowners in California due to wildfires, climate risks, and inflation may signal a trend of insurer retreats in response to climate change. Research by Cody Dong, a senior associate at MSCI ESG and … Read more
ESG data and risk managers – the problem and the solution Introduction: Environmental, Social, and Governance (ESG) standards have become a top-tier risk for companies, with high-profile legal challenges and mandatory exposures on the horizon. Many risk managers are aware of ESG exposures but face challenges in starting their ESG reporting journey. Challenges … Read more
“There is a lot they can do besides just exiting markets.” Introduction: Recent insurer retreats due to climate change-related risks have highlighted the precarious nature of the industry. These retreats result in pricier premiums, coverage uncertainty, and, in extreme cases, market exits. However, the uninsured market created by such retreats presents opportunities for … Read more
RSA taps new specialist underwriter for A&H segment Introduction RSA Insurance has made a significant appointment by bringing Michael Jensen as a senior specialist underwriter for the Accident & Health (A&H) division. Jensen’s role is pivotal in driving the growth of A&H in the regions, and he will be based in Manchester. He … Read more
Global cyber weapon market to see significant growth Introduction Highlight the report from Research and Markets discussing the expected substantial expansion of the global cyber weapons market. Emphasize that the growth is driven by increasing cybersecurity threats projected to emerge between 2021 and 2031. Understanding Cyber Weapons Define cyber weapons as various types … Read more
Ardonagh Advisory announces double swoop. Introduction Announce the official addition of two significant businesses, Stanhope Cooper and Renovation Underwriting, to the Ardonagh Advisory group. Mention that Ardonagh had previously agreed to acquire a majority stake in these businesses. Highlight the acquisition of a shareholding in N&W Investments, the parent company of the mentioned … Read more