Cyber insurance experts say they don’t see uniformity coming to the underwriting process any time soon, but underwriting continues to become more sophisticated as cyber threats evolve. Those are two of the key takeaways from a recent panel discussion on cyber underwriting, as part of Advisen’s recent virtual Cyber Risk Insights Conference. Underwriting questions vary… Continue reading Advisen Panel: No Commonality in Cyber Underwriting Process Any Time Soon
Author: Farkas Laura
Administration Lays Out Broad Changes to Address Supply-Chain Shortfalls
The Biden administration on Thursday outlined dozens of measures the federal government can take to strengthen freight transportation and infrastructure following almost two years of supply-chain turmoil that has frustrated American businesses and helped fuel inflation. The recommendations from the U.S. Department of Transportation are included in one of seven reports published by government agencies… Continue reading Administration Lays Out Broad Changes to Address Supply-Chain Shortfalls
Truckers’ Premiums Keep Rising, Despite Safety Improvements, Coverage Changes
As with so many other goods and services, insurance for commercial trucks has become more costly since the pandemic – but a closer look at the numbers shows that this trend pre-dates COVID-19’s economic and supply-chain disruption. “Despite reductions in insurance coverage, rising deductibles, and improved safety, almost all motor carriers experienced substantial increases in… Continue reading Truckers’ Premiums Keep Rising, Despite Safety Improvements, Coverage Changes
Travelers Acquires Trōv Technology Assets
Trōv, one of the earliest and most widely recognized insurtechs, today announced that its technology has been acquired by The Travelers Companies, Inc., a leading provider of property casualty insurance for auto, home and business. Most members of Trōv’s team have also joined the company. Terms of the transaction were not disclosed. Trōv is credited… Continue reading Travelers Acquires Trōv Technology Assets
Applied Underwriters Acquires Catlin Specialty Insurance Company
Applied Underwriters has announced that it will acquire Catlin Specialty Insurance Company (‘A+’ rated) from the AXA XL group of companies, consolidating the company into the North American Casualty group of companies (‘A’ rated) in a move intended to bolster Applied’s operating capabilities in support of its strategic partners as the E&S market hardens. The… Continue reading Applied Underwriters Acquires Catlin Specialty Insurance Company
Only 3% of White Collar Workers Want to Return to the Office Full-Time
Just 3% of white collar workers want to return to the office five days a week, according to a poll by management consultancy Advanced Workplace Associates, which warned employees will quit if bosses force them back full-time. A full 86% of employees want to work from home at least two days a week, the consultancy… Continue reading Only 3% of White Collar Workers Want to Return to the Office Full-Time
Push to Relax Marijuana Laws Hits Roadblocks
Facing a tough midterm election and divisions in Congress, the Biden administration is sidestepping the politically sensitive issue of loosening marijuana laws even as the idea has gained support of most Americans. More than half of U.S. states have legalized cannabis use for some purposes. Lawmakers have proposed decriminalizing marijuana, which would entail reduced penalties… Continue reading Push to Relax Marijuana Laws Hits Roadblocks
California State Regulators Unveil Wildfire Safety Plan
California is implementing a three-pronged approach dubbed “Safer from Wildfires” to reduce the wildfire risk of older homes, including measures to harden homes, their immediate surroundings and the communities they are in. California has existing wildfire building standards for homes built after 2008. But as catastrophic megafires drive up the cost of insuring homes and… Continue reading California State Regulators Unveil Wildfire Safety Plan
Verisk Announces Sale of Its Financial Services Business to TransUnion
Verisk, a leading global data analytics provider, today announced that it has entered into a definitive agreement to sell Verisk Financial Services, its financial services business unit, to TransUnion, a global information and insights company, for $515 million in cash consideration paid at closing. Verisk Financial maintains the largest financial institution consortia to provide proprietary… Continue reading Verisk Announces Sale of Its Financial Services Business to TransUnion
Rise in Non-Covid-19 Deaths Hits Life Insurers
Last year, as expected, life insurers in the United States paid out a large number of Covid-19 death-benefit payouts. Surprisingly, many people saw an increase in other types of death claims as well. Many of the other fatalities, according to industry executives and actuaries, are linked to delays in medical care as a result of… Continue reading Rise in Non-Covid-19 Deaths Hits Life Insurers