The costs from cyberattacks — from business interruption to ransomware payments and legal settlements — pose an increasing threat to company creditworthiness due to loss of customers, theft of intellectual property or a break in revenue flows, Moody’s Ratings said.
Tag: Moody’s
Moody’s Changes Outlook of Personal Lines Insurance Sector to Stable
Moody’s has changed the outlook for the US property & casualty (P&C) personal insurance sector to stable from negative, reflecting continued improvement in underwriting results.
Insured Losses from Maui Wildfires at Least $1 Billion: Moody’s
Moody’s Investors’ Service said on Tuesday that estimated insured losses from wildfires on Maui in Hawaii will be at least $1 billion.
Autonomous Vehicles Could Reduce Accident Frequency, Boost Insurer Profitability: Moody’s
According to a new Moody’s report, autonomous vehicles will initially boost auto insurance profitability while ultimately decreasing demand for traditional coverage – but the property/casualty insurance industry has time to evolve.
Moody’s RMS Estimates $5-7B in Economic Losses from California Flooding
Moody’s RMS® estimates total economic losses in the United States from the recent California flooding at $5-7 billion.
Moody’s: Russia’s Invasion of Ukraine Creates New Risks for Insurers
The economic consequences of Russia’s invasion of Ukraine, according to Moody’s, create new risks for global insurers and asset managers, with the severity of the crisis determining the impact. Moody’s created its own baseline scenario, which resulted in GDP growth in the G20 economies slowing to 3.6 percent in 2022, down from the company’s initial… Continue reading Moody’s: Russia’s Invasion of Ukraine Creates New Risks for Insurers
Reinsurance Rate Momentum to Continue into Jan 2022: Moody’s
Analysts at Moody’s have noted that the 2021 Atlantic hurricane season activity looks set to be “well above long-term historical averages,” which could result in continued pressure on reinsurance rates. According to forecasters, the combination of warmer than average sea surface temperatures in the tropical Atlantic Ocean and Caribbean Sea, weaker trade winds and an… Continue reading Reinsurance Rate Momentum to Continue into Jan 2022: Moody’s
COVID-19 to Weaken U.S. P&C Insurers’ Premiums, Investments: Moody’s
For US property and casualty insurers, Moody’s analysts expect the economic shock from coronavirus to cause a decline in premiums, higher claim costs in certain business lines, lower claim frequencies in others, more volatile investment results, and a deterioration in capital. For claim costs, the coronavirus is expected to have mixed effects, with lower frequencies… Continue reading COVID-19 to Weaken U.S. P&C Insurers’ Premiums, Investments: Moody’s
Moody’s Acquisition of Four Twenty Seven Signals New Approach to Climate Change in Financial Markets
The acquisition of California-based Four Twenty Seven, Inc., by Moody’s Corporation could signify the beginning of a major shift in how markets price risks related to climate change. Up until now, these risks largely have been absent from investors’ models, but if Moody’s, a major rating agency, starts using Four Twenty Seven’s methods in assigning… Continue reading Moody’s Acquisition of Four Twenty Seven Signals New Approach to Climate Change in Financial Markets
Moody’s, Israel’s Team8 to Create Cyber Risk Index for Businesses
Ratings agency Moody’s Corp and Israeli cyber group Team8 launched on Thursday a joint venture to assess how vulnerable businesses are to cyber attacks and create what they hope will become a global benchmark. Cyber attacks are in focus after a virus from Ukraine spread around the globe in 2017, crippling thousands of computers, disrupting… Continue reading Moody’s, Israel’s Team8 to Create Cyber Risk Index for Businesses