Data breaches up 39% in Q1 2017: Beazley

Data breaches up 39% in Q1 2017: Beazley

Data breaches up 39% in Q1 2017: Beazley

Beazley has recorded a 39% in the number of data breaches reported by its clients in the first three months of this year. The Beazley Breach Response Services (BBR) unit managed 641 data breaches in the first quarter of 2017, compared to 462 during the same period last year. BBR identified phishing scams as a growing risk for firms in…

Companies urged to better prepare travellers for malaria risk

Companies urged to better prepare travellers for malaria risk

Companies urged to better prepare travellers for malaria risk

Companies with a workforce in malaria-affected countries have been urged by International SOS to better control the risk of employees contracting the potentially fatal disease. Between 2014 and 2016, offshore malaria cases – such as on oil and gas rigs – tripled but International SOS found only 22% of firms offer pre-travel health assessments. Moreover, International SOS said only 36%…

Advertorial: What’s a steering wheel?

Advertorial: What’s a steering wheel?

Advertorial: What’s a steering wheel?

In the past few months: a self-driving pod developed by Oxbotica made its debut in Milton Keynes, England; a self-driving truck delivered a load of beer in Colorado; autonomous buses took to the streets in several cities including Lyon in France, Sion in Switzerland and Dubai; and self-driving taxis were introduced in Singapore. For many people, seeing or riding in…

Bermudian market records premiums of $92.3bn in 2016

Bermudian market records premiums of $92.3bn in 2016

Bermudian market records premiums of $92.3bn in 2016

Members of the Association of Bermuda Insurers and Reinsurers (ABIR) posted global net income of $10.2bn in 2016, with gross premium at $92.3bn on a capital and surplus base of $123.6bn. The results cover 21 of 23 ABIR’s members. The ABIR said direct comparisons with previous years could not be made as the association gained three new members during 2016…

FM Global to set up European hub in Luxembourg

FM Global to set up European hub in Luxembourg

FM Global to set up European hub in Luxembourg

FM Global has decided to set up a European hub in Luxembourg post-Brexit, to ensure full access to clients on the continent. The US firm’s executive vice-president in charge of European business, Chris Johnson, told Reuters that it will set up a subsidiary in Luxembourg, while also continuing to operate from its current European base in Windsor, London. Mr Johnson…

RIMS survey uncovers ‘unacceptable’ disruptive technology risk management

RIMS survey uncovers ‘unacceptable’ disruptive technology risk management

RIMS survey uncovers ‘unacceptable’ disruptive technology risk management

Risk managers need to increase their understanding of disruptive technologies and related threats, finds a joint survey by RIMS and Marsh. It reveals that the majority (55%) of risk managers do not conduct risk assessments for their company’s use of new technologies, or the potential for future use of robotics, the Internet of Things, telematics and smart buildings. “Given the…

Aon’s flagship survey reveals ‘worrisome’ fall in preparedness for leading risks

Aon’s flagship survey reveals ‘worrisome’ fall in preparedness for leading risks

Aon’s flagship survey reveals ‘worrisome’ fall in preparedness for leading risks

European companies’ preparedness for the top 10 risks they face has deteriorated and risk readiness of global firms is at an all time low, according to Aon’s 2017 Global Risk Management Survey. The biannual survey of risk decision-makers across the world named damage to reputation/brand as the number one global risk, followed by economic slowdown and increasing competition. Global preparedness…

Alternus brings alternative capital to primary market

Alternus brings alternative capital to primary market

Alternus brings alternative capital to primary market

The Schinnerer Group has brought the first dedicated commercial insurance solution backed by alternative capital to market for retail clients in the US. The Alternus solution, launched by The Schinnerer Group’s subsidiary Victor O Schinnerer & Company and offered exclusively through broker Marsh, is backed by a combination of traditional capacity from Allianz Global Corporate & Specialty (AGCS) and alternative…

Munich Re and Beazley launch $100m cyber risk transfer option

Munich Re and Beazley launch $100m cyber risk transfer option

Munich Re and Beazley launch $100m cyber risk transfer option

Munich Re and Beazley have launched a cyber risk transfer option that offers up to $100m of capacity to large global corporates for a range of first-party and third-party exposures. The two companies have been working together during the past year to address innovation and capacity issues in the cyber insurance market. Munich Re and Beazley said the market has…

Duperreault reportedly in running to become new AIG CEO

Duperreault reportedly in running to become new AIG CEO

Duperreault reportedly in running to become new AIG CEO

Former ACE chief Brian Duperreault is being considered as the new CEO of AIG, according to media reports. Citing sources close to AIG’s board, which is in the process of deciding who should replace outgoing CEO Peter Hancock, Bloomberg reported that Mr Duperreault is part of the discussions. Other candidates are still being weighed up, the sources said. Whoever replaces…

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