Risk Management – Page 53
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AnalysisBriefing: FCA must focus next on customers’ expectation gap following dual pricing ban
Consumer group managing director calls expectation gap the ‘number one problem in insurance’, over and above ‘sideshow’ price walking that the FCA has been focused on
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NewsGeopolitical strife impacting shift in ransomware attacks – SonicWall
The cyber security firm discovered 59,259 cases of never before seen malware in March 2022 alone
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NewsTravel insurers must address ‘misunderstanding’ over coverage – Consumer Intelligence
A lack of consumer trust in the travel insurance sector should be addressed with greater clarity over policy exclusions, says senior insight analyst
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NewsACSO calls for mandatory insurance of e-scooters
The association has laid out a 10-step plan for the effective and safe legalisation of the micromobility vehicles in the UK
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AnalysisBriefing: Small comfort for insurance industry from FSB report
Sector faces stinging remarks from member organisation about not adequately supporting small businesses – this must be a blow for relationship-centric brokers
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NewsInsurers brace for ‘inevitable’ claims following forest fires
Greater cross-sector collaboration is needed to ’more accurately assess, map and manage the risks’ as wildfires are ’no longer just an issue for faraway countries’, says property loss expert
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AnalysisInsurers must be alert to the threat of physical damage from cyber attacks
Recent cyber attacks on a number of Iranian steel plants evidence the dangers these events can pose to physical infrastructure - this should serve as a warning to insurers
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NewsRSA launches new policy to support victims of domestic abuse
The Employers Initiative on Domestic Abuse (EIDA) and charity Women’s Aid have both helped the insurer with the policy’s launch
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NewsTFL cracking down on e-scooter riders who flout rules
Meanwhile, a panel of experts has called for mandatory insurance for e-scooters before the situation becomes ‘untenable’ for the MIB
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NewsCryptocurrency crisis leading to insurance policy wording amendments
Volatility in a market in its infancy is creating calls for regulation, says FCA chief executive
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AnalysisUptick in livestock disease claims leads to farmer losses and increased insurer costs
It is pivotal that brokers have meaningful conversations with agricultural clients to ensure they understand farming’s operational risks
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NewsInflation contributing to an increased number of aircraft being written off
Repairable vehicles are increasingly being scrapped as the cost of repairs approaches their total value, says aviation portfolio manager
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AnalysisInsurers must deploy capital ‘confidently’ to solve cyber cover supply and demand imbalance
Demand for cyber insurance has increased - but so has the price
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AnalysisBriefing: Brokers must help Rolex and Patek Philippe owners watch for HNW underinsurance
Some luxury watches have more than tripled in price – even for second-hand watches – meaning that brokers have to be on the ball if they are to help prevent underinsurance for HNW customers
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NewsOnly 26% of small businesses see cyber security as a ‘top priority’ – Direct Line
’It’s important that employees are trained to identify potential points of vulnerability,’ says product manager
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AnalysisAviation market braces for ‘potentially huge losses’ as Russian aircraft seizures bite
The aviation insurance market ’is burying its head in the sand’ when it comes to tackling the fallout from the Russia-Ukraine conflict
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NewsPoor management of climate risks could lead to D&O and E&O claims – Kennedys
Environmental and climate risks can impact ‘all types of insurance policies’ because they are ‘a constant, growing concern’, says law firm partner
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NewsBeazley warns of ‘increasingly complex’ cyber risks
It is essential that organisations understand cyber threats and resulting vulnerabilities, says global head of cyber services
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NewsEmerging BazarCall ransomware targeting small businesses, CFC warns
Most workplaces do not educate staff about social engineering attacks, says cyber threat analysis team leader
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IT InterviewInsurance sector – especially brokers – must lead ‘stewardship’ of net zero transitions
Although data forms the foundation of driving net zero transitions, brokers have an ‘elevated role’ to play when communicating propositions to clients, according to Accenture’s experts
