Pioneer Underwriters, (“Pioneer”), the underwriting services organization, today announces that it has agreed commercial terms for a transaction with specialty insurance services holding company, K2 Insurance Services LLC (“K2”). The transaction will be the first acquisition for K2 outside the US. Pioneer will form the cornerstone for a new international platform of K2. This will… Continue reading K2 Insurance Services to Acquire Pioneer Underwriters in First Transaction Outside the U.S.
Tag: financial institutions insurance
Chubb Report Spotlights Biometric Privacy Act, iEncrpyt and Cyber Risks Facing Financial Institutions
Chubb’s latest Cyber InFocus Report, “Know the Latest Trends in Cyber Risks,” outlines the newest cyber exposures that all institutions should have on their radar. The first of these new risks surrounds a recent surge in Biometrics Information Privacy Act (BIPA) lawsuits, which has created a growing need for organizations to better understand current and… Continue reading Chubb Report Spotlights Biometric Privacy Act, iEncrpyt and Cyber Risks Facing Financial Institutions
Willis Towers Watson Announces New Financial Institutions Team in Canada
Willis Towers Watson a leading global advisory, broking and solutions company, today announced a series of appointments across its Financial Institutions (FI) business in Canada, underscoring the company’s expansion into the market. The three new appointees will all be based in Toronto and report to Allison Barrett, global head of FINEX FI, and John Haas,… Continue reading Willis Towers Watson Announces New Financial Institutions Team in Canada
Hub International Acquires the Assets of Atlanta-based Insurtech Company In-Fi
Hub International Limited (Hub), a leading global insurance brokerage, announced today that it has acquired the assets of CBIS, LLC, d/b/a “In-Fi” (In-Fi). Terms of the transaction were not disclosed. Established in 2016, In-Fi developed a distribution platform for financial institutions, which utilizes technology and automation to monetize high volume, low premium insurance placements, and… Continue reading Hub International Acquires the Assets of Atlanta-based Insurtech Company In-Fi
Beazley Launches Coverage to Protect Financial Institutions Against Emerging and Interconnected Risks
Specialist insurer Beazley launched a suite of innovative insurance products to protect Canadian financial institutions from rapidly evolving risks in a complex business and regulatory environment. Beazley’s new solution offers a seamless set of policies from crime and professional liability (PL) to directors’ and officers’ (D&O) liability. It also includes Beazley’s pioneering data breach cover,… Continue reading Beazley Launches Coverage to Protect Financial Institutions Against Emerging and Interconnected Risks
Financial Firms Spend Up to $3,000 Per Employee on Cybersecurity
Big banks and other financial firms spend as much as $3,000 per employee to defend computer networks from cyber criminals, a survey found, as the industry remains the primary target of such attacks. That would translate to about $750 million annually for JPMorgan Chase & Co. and HSBC Holdings Plc each, based on their 2018… Continue reading Financial Firms Spend Up to $3,000 Per Employee on Cybersecurity
Beazley Launches Environmental Liability Cover for Lenders
Specialist insurer Beazley has launched site lender environmental asset protection (SLEAP) cover to protect banks and other lenders from pollution risks that could seriously impair the value of property used as collateral for commercial loans. In the event of both a loan default and the discovery of environmental contamination on a property, the policy will… Continue reading Beazley Launches Environmental Liability Cover for Lenders