Terror and cyber attacks boost demand for crisis cover

Terror and cyber attacks boost demand for crisis cover

Terror and cyber attacks boost demand for crisis cover

Insurance buyers are increasingly turning to crisis management solutions from insurers as they seek to manage fast-evolving security and cyber threats, according to Arthur J Gallagher (AJG). The past two years have seen a number of attacks in Europe and elsewhere in which terrorists used vehicles, knives, guns and explosives, often acting as lone wolves or in marauding attacks, to…

Experts identify likely cyber terror targets

Experts identify likely cyber terror targets

Experts identify likely cyber terror targets

Transport and chemical plants are among the most attractive targets for cyber terrorists, although known terrorist groups are years away from launching sophisticated attacks, according to analysis from the Cambridge Centre for Risk Studies (CRS). CRS analysis found that chemical plants, commercial airliners, the Eurostar train and ordinance facilities are the most attractive targets for cyber terrorists that would have…

Asia Pacific continues to lead shipping losses but trend is positive: AGCS

Asia Pacific continues to lead shipping losses but trend is positive: AGCS

Asia Pacific continues to lead shipping losses but trend is positive: AGCS

The south China, Indochina, Indonesia and Philippines region continues to lead the world shipping losses table, according to the Allianz Safety & Shipping Review 2017. The insurer’s latest report reveals that 23 of the 85 total losses suffered in 2016 occurred in the region. The region also leads the longer-term table. From 2007 to 2016, it was a clear leader…

Marsh president: ‘Age of the Client’ or ‘Age of Risk or Disruption’?

Marsh president: ‘Age of the Client’ or ‘Age of Risk or Disruption’?

Marsh president: ‘Age of the Client’ or ‘Age of Risk or Disruption’?

The current environment is the ‘Age of the Client’ according to the president of Marsh, John Doyle. Speaking at the Marsh & McLennan Companies Young Professionals’ Global Forum 2017, he called upon delegates to take advantage of the multiple opportunities, pointing to the increasingly dynamic insurance arena, with the emergence of autonomous vehicles, new cyber risks and a constantly evolving…

Advertorial: Will you be giving your kids cryptocurrencies for pocket money?

Advertorial: Will you be giving your kids cryptocurrencies for pocket money?

Advertorial: Will you be giving your kids cryptocurrencies for pocket money?

First introduced in 2009, bitcoin has had a turbulent history that shows little sign of settling down. In spite of the drama that surrounds it, the cryptocurrency remains a topic for serious discussion. Graham Hawkins, XL Catlin’s head of fine art and specie, describes the unique characteristics of this “borderless currency”, and considers its viability for mainstream use. Aristotle was…

Cyber and new regulations push risk management up APAC insurers’ corporate agenda

Cyber and new regulations push risk management up APAC insurers’ corporate agenda

Cyber and new regulations push risk management up APAC insurers’ corporate agenda

New regulatory and reporting requirements along with a widening range of risks such as cyber are helping to expand the role of the CFO within the Asia-Pacific insurance sector. During AM Best’s recent 11th Asian CFO Summit in Hong Kong, a range of senior insurance market figures from the region told the credit rating agency that the rapid rise of…

Pool Re hire aimed at boosting SME take-up

Pool Re hire aimed at boosting SME take-up

Pool Re hire aimed at boosting SME take-up

Pool Re has appointed Howard Cheetham as head of distribution, tasked with increasing the uptake of terrorism insurance around the UK, especially among small and medium-sized businesses. He takes up his role with immediate effect and will report to Steve Coates, chief underwriting officer at Pool Re. Mr Cheetham brings more than three decades of experience to Pool Re. He…

Chubb increases terrorism, political violence and war insurance capacity

Chubb increases terrorism, political violence and war insurance capacity

Chubb increases terrorism, political violence and war insurance capacity

Chubb has increased its insurance capacity for terrorism, political violence and war risks to $150m/€150m from $100m/€100m. Chubb said the move is in response to evolving threats and increased demand from multinational clients. Chubb has increased its terrorism and political violence capacity per account by 300% in the past two years and now provides brokers and clients with comprehensive cover…

Terror attacks in France and Australia following London atrocity

Terror attacks in France and Australia following London atrocity

Terror attacks in France and Australia following London atrocity

Following the weekend’s terrorist attack in London, further suspected terrorist incidents have been reported in France and Australia. Political risk consultant Verisk Maplecroft has not raised the UK’s terrorism risk rating since the third attack in the country in recent months. The French authorities are investigating a suspected terror attack in Paris on Tuesday. A man, believed to be an…

Arma Underwriting opens for business in Dubai

Arma Underwriting opens for business in Dubai

Arma Underwriting opens for business in Dubai

Dubai-based Arma Underwriting, the recently formed Lloyd’s coverholder, has received full approval from all regulators and commenced operations. Arma, which is backed by Asta, the Lloyd’s third-party managing agent and specialist managing general agent investor, said it intends to develop close relationships with brokers and cedants in the Middle East and Africa markets, targeting individual risks as well as portfolio-driven…

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