Ransomware attacks ‘skyrocket’ in 2019 as large firms targeted, warns Beazley

Ransomware attacks ‘skyrocket’ in 2019 as large firms targeted, warns Beazley

Ransomware attacks ‘skyrocket’ in 2019 as large firms targeted, warns Beazley

Ransomware attacks “skyrocketed” by 105% in the first quarter of 2019, according to notifications collated by insurer Beazley’s Breach Response Services team. Beazley said there was also a change in style of ransomware attack, with perpetrators targeting larger organisations and demanding higher ransomware payments to unlock systems. Banking trojans have been “increasingly problematic” for companies in the first quarter of…

AGCS expands environmental response support

AGCS expands environmental response support

AGCS expands environmental response support

Allianz Global Specialty Services (AGCS) has expanded its environmental impairment liability cover to boost emergency response to pollution and contamination events worldwide. In partnership with loss adjuster and consultant GM Consultant, AGCS said the cover will offer global clients immediate support on a 24/7 basis as well as claims investigation services. HETI will continue to provide emergency response for clients…

HDI Global Specialty appoints new head of aviation

HDI Global Specialty appoints new head of aviation

HDI Global Specialty appoints new head of aviation

HDI Global Specialty has appointed Martin Jackson as head of aviation and space. Replacing Tim Slade, Mr Jackson joins the London office from Neon Underwriting, where he worked as class underwriter for marine and transport, including aviation. With more than 30 years’ experience in aviation underwriting, Mr Jackson has also worked at Aspen, where he oversaw the expansion of its…

AXIS rolls out new branding

AXIS rolls out new branding

AXIS rolls out new branding

AXIS Capital Holdings has kickstarted a brand awareness campaign as it launches a new logo and website. AXIS said the refreshed branding is “dynamic and forward-looking”, and reflects the steps it is taking to be a “future-ready company”. “Our new visual identity builds on our storied history and strengths, but breaks out to reflect AXIS’s bold actions and future,” said…

Bermuda removed from EU tax blacklist, but remains on ‘grey’ list

Bermuda removed from EU tax blacklist, but remains on ‘grey’ list

Bermuda removed from EU tax blacklist, but remains on ‘grey’ list

Bermuda’s (re)insurance and risk community breathed a collective sigh of relief after the country was removed from the European Union’s tax blacklist, but it remains on a ‘grey’ list until concerns are fully addressed. On Friday, the EU’s Economic & Financial Affairs Council (ECOFIN) said Bermuda, along with Aruba and Barbados, will be removed from a list of non-cooperative tax…

Marsh index reports growing global and European commercial insurance price increases

Marsh index reports growing global and European commercial insurance price increases

Marsh index reports growing global and European commercial insurance price increases

Average global commercial insurance prices increased 3% in the first quarter of 2019, with prices up 2% in continental Europe and 2.9% in the UK, according to Marsh’s Global Insurance Market Index. It is the largest global increase since the index began in 2012 and the sixth consecutive quarter of rising prices. The index reveals that composite pricing in the first…

BIBA’s new head of general insurance on state of market, terrorism and Brexit

BIBA’s new head of general insurance on state of market, terrorism and Brexit

BIBA’s new head of general insurance on state of market, terrorism and Brexit

Last month, the British Insurance Brokers’ Association (BIBA) appointed Alastair Blundell, formerly head of distribution at Tokio Marine Kiln, to the newly created position of head of general insurance. We caught up with him at BIBA’s annual conference to discuss his priorities and some of the other big issues in the marketplace. What will be the big areas of focus…

BIBA defends London and UK cyber market but plans SME guide

BIBA defends London and UK cyber market but plans SME guide

BIBA defends London and UK cyber market but plans SME guide

The British Insurance Brokers’ Association (BIBA) has defended the London and UK cyber market, stating that although there is room for improvement, decent cover is available, particularly for larger firms. However, the association is working on guidance to help its members support SMEs to understand their cyber risk better and improve cyber protection.

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