More than a third (36%) of companies that paid a ransom were later targeted by cyber criminals a second time.
Author: Annie George
Home Insurance Trends Reflect Steady Rise in Loss Cost and Severity Across All Perils
This year’s U.S. Home Trends Report, based on property exposures and losses from 2015 to 2021, reveals that, while loss cost and frequency decreased across all perils in 2021, the seven-year trend shows a steady increase over time.
Tropical Storm Nicole Strengthens as It Makes Its Way to Florida, Evacuations Issued
Weather will deteriorate along Florida’s southeast coast as Tropical Storm Nicole approaches the state and becomes a hurricane by the time it reaches land.
Verisk to Help Insurers Respond to Changing Wildfire Regulatory Environment in CA
Verisk is ready to assist the industry in navigating new wildfire regulatory requirements in California.
NYS Department of Financial Services Proposes Updated Cybersecurity Regulation
The New York State Department of Financial Services (DFS) has proposed updated cybersecurity regulation.
Carriers Face Challenging Reinsurance Market
Insurers are currently in negotiations with reinsurers, who are attempting to raise rates by 10% to 30%.
SageSure and Goosehead Partner to Launch Elevate for Preferred Coastal Property Risks
SageSure and Goosehead today announced the launch of the new reciprocal exchange Elevate to protect homeowners in coastal states.
Tropical Storm Nicole Heading for Florida as Category 1 Hurricane
Tropical Storm Nicole is expected to strengthen as it approaches Florida on Tuesday and Wednesday.
Munich Re Posts 3Q Profit Despite Hurricane Ian Losses
Munich Re reported profits for the third quarter despite an increase in major losses in P&C reinsurance due to Hurricane Ian.
Convelo Insurance Group Launches New Management Liability Program for Nonprofits with Fortegra
MGA Convelo Insurance Group has launched new management liability insurance program for nonprofits with Fortegra.