Insurers moving to weed out silent cyber

Insurers moving to weed out silent cyber

Insurers moving to weed out silent cyber

Following regulatory pressure and large losses, a number of insurers, most notably Allianz and AIG, are pressing ahead with plans to remove silent cyber coverage from traditional P&C policies, which will lead to significant changes in the way cyber risks are underwritten. Last year’s global malware attacks generated a number of large, unexpected cyber losses for property insurers. According to…

Ferma welcomes EC plans for AI ethics but concerned about use by insurers

Ferma welcomes EC plans for AI ethics but concerned about use by insurers

Ferma welcomes EC plans for AI ethics but concerned about use by insurers

Ferma has welcomed the fact that proposed EC guidelines on artificial intelligence (AI) ethics will be voluntary, but raised concerns that the use of such technology in the underwriting process could put buyers at a disadvantage and mean some might not be able to obtain cover…

Risk managers advised to check policies as not all UK insurers have created EU ops

Risk managers advised to check policies as not all UK insurers have created EU ops

Risk managers advised to check policies as not all UK insurers have created EU ops

French and other EU-based risk managers need not panic about the continuity of their coverage with UK and London market insurers, and ability to receive claims, post-Brexit, according to a panel of experts at the AMRAE conference in Deauville. But they are advised to check polices because not all UK insurers have created EU subsidiaries…

A practical overview of the IMO 2020 Sulphur Cap

A practical overview of the IMO 2020 Sulphur Cap

A practical overview of the IMO 2020 Sulphur Cap

With less than 18 months before Regulation 14.1.3 of Annex VI of the International Convention for the Prevention of Pollution from Ships (MARPOL) comes into effect, there are still numerous challenges surrounding compliance and enforcement, which have cast uncertainty over the effect that the regulation will have on the international maritime industry and on individual shipping companies. This three-part series…

IUMI president warns over state of marine market and Brexit

IUMI president warns over state of marine market and Brexit

IUMI president warns over state of marine market and Brexit

The president of the International Union of Marine Insurance (IUMI) has warned that the marine insurance sector is facing its “most significant challenge” for the last 25 years as it attempts to come to terms with unprofitability and heavy losses. He also said it remains far from clear if, and how, the London market will be able to serve companies…

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