Risk Management – Page 65
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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
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NewsStrike action travel insurance cover sparse amid airline complications – Which?
Nearly half of travel insurance policies do not cover customers for strikes by airport or airline staff, the firm’s latest research reveals
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NewsBroker consolidation indicates ‘rosy future for the broking market’ – Accenture
Brokers must also move from ‘traditional risk indemnity into risk management mitigation’ to obtain ‘frequent customer engagement’, says senior managing director
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NewsPublic expects insurers to ‘lean into’ the challenges posed by systemic risks – James Dalton
The sector must ‘think carefully’ about how it can best respond to these types of risks, however
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NewsInsurers approximately £1.44bn out of pocket due to vehicle thefts – CMA
The ‘lack of data is disguising the true, frankly embarrassing, scale of the UK’s vehicle crime problem’, says managing director and former police detective
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NewsUK heatwave will cause increase in glass claims – Auto Windscreens
’Tracking weather and forecasting peaks and troughs is vital’ for insurers, says commercial and sales director
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News‘Evolving black swan events’ are making ‘the industry incredibly nervous’ – Accenture
Despite five possible black swan events on the horizon, past industry action has demonstrated that insurance companies take these risks ‘very much in their stride’, according to professional services firm
