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…

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…

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…

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…

UK terror attack shows worrying sophistication, but risk level unchanged: analysts

UK terror attack shows worrying sophistication, but risk level unchanged: analysts

UK terror attack shows worrying sophistication, but risk level unchanged: analysts

Police investigations into Monday’s terrorist attack in Manchester are revealing a worrying level of sophistication, but analysts see little change in the underlying risk. Following the attack at the Manchester Arena, in which 22 people died and more than 60 were injured, details of a relatively sophisticated attack have emerged. On Tuesday, the UK Home Secretary, Amber Rudd, said it…

UK raises terror threat to critical

UK raises terror threat to critical

UK raises terror threat to critical

The UK government has raised the terror threat level from severe to critical, which is the highest of five possible categories and suggests another terrorist attack is expected imminently. The last time the threat level was critical was in 2007, after a terrorist attack at Glasgow airport. The change in the threat level came 24 hours after Monday night’s devastating…

Mass casualties from suspected terror attack in Manchester

Mass casualties from suspected terror attack in Manchester

Mass casualties from suspected terror attack in Manchester

At least 22 people were killed in a suspected terrorist attack in Manchester, England, last night. The explosion, which injured 59 people, targeted a concert by US singer Ariana Grande at the Manchester Arena. Many children are believed to have been killed. No terrorist group has yet claimed responsibility, but police and the government said they are working on that…

Pool Re remains hopeful of offering cyberterror cover

Pool Re remains hopeful of offering cyberterror cover

Pool Re remains hopeful of offering cyberterror cover

UK’s Pool Re remains hopeful that it will be able to extend cover to include cyberterrorism, but delays in obtaining government consent mean this is now not likely to happen until next year. Pool Re has been in talks with the UK’s HM Treasury to extend the terrorism cover it provides member insurance companies to include cyber. The reinsurance facility,…

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