Cyber incidents connected to state and non-state actors, sanctions, supply chain vulnerabilities, and operational technology are being considered alongside traditional war, marine, and political risk exposures. Charlie Hutcherson, insurance analyst at GlobalData, said: “Geopolitical flashpoints are increasingly being priced not just through marine war-risk and political risk lines, but through expectations of cyber escalation. GlobalData’s poll shows cyber insurance is viewed as the commercial product most likely to see rising demand, as businesses anticipate a higher probability of disruptive cyber events alongside physical disruption to trade routes.”
Author: Awais
Industry figure remembered for guiding the commercial property insurer through expansion, research investment and the COVID-19 crisis
Risk Placement Services Inc. acquired Agoura Hills, California-based S Philips Surety & Insurance Services Inc. The S Philips team will remain in its current location under the direction of Jeremy Crawford, head of RPS’s surety bond operations. S Philips provides surety bonds to agents and brokers on the West Coast. RPS is the U.S. wholesale brokerage, binding authority and programs division of Arthur J. Gallagher & Co. Arthur J. Gallagher is a global insurance brokerage, risk management and consulting services firm headquartered in Rolling Meadows, Illinois. Topics Mergers & Acquisitions California A.J. Gallagher Was this article valuable? Yes No Here…
Amazon’s robotaxi unit Zoox is expanding testing to Dallas and Phoenix and launching a command hub for fleet operations in Arizona, as it looks to widen its footprint in the U.S.’s increasingly competitive autonomous taxi market. The move will expand testing operations to 10 markets across the country, Zoox said on Monday, adding the two Sun Belt cities to existing sites including Las Vegas, the San Francisco Bay Area, Seattle, Austin, Miami, Los Angeles, Atlanta and Washington, D.C. Related: Waymo’s San Francisco Outage Raises Doubts Over Robotaxi Readiness During Crises While Alphabet’s Waymo has been leading commercial deployments in the…
A high school teacher in Gainesville, Georgia, was killed Friday when a group of students, engaged in “rolling” his yard with toilet paper, accidentally ran over the man. News sites reported that Jason Hughes, 40, knew the traditional prank was coming and was attempting to surprise the students. But he slipped and fell on rain-slickened ground just as one of the cars pulled away, the Associated Press and New York Times reported. The students attempted to administer first aid at the scene, but Hughes was pronounced dead at a local hospital. The driver, an 18-year-old, has been charged with vehicular…
Insurance Journal’s Risky Future series is hosting the “AI Tools for MGAs” Demo Day, a series of free AI tool demonstrations designed exclusively for managing general agencies. The latest online event offers MGAs an opportunity to evaluate innovative and practical AI-powered products that promise to drive efficiency and modernization in the wholesale, program manager, and the delegated underwriter authority space. In partnership with Insurance Journal, Risky Future’s AI Tools for MGAs Demo Day will be held on Wednesday, March 11. Beginning at 1pm ET, AI technology experts will present and demo their products to attendees. Information shared during the event…
Poor grades assigned by the nonprofit watchdog to the Tenet hospitals in Florida were based on methodology that “has no scientific basis” and “misrepresents hospital safety,” a federal judge ruled.
US primary property and casualty insurer The Hartford clearly sees the catastrophe bond market as a valuable source of efficient protection, that over the last few years has helped the company meaningfully raise the top of its occurrence catastrophe reinsurance tower.Two year’s ago, after the January 2024 reinsurance renewals, The Hartford’s executives explained that sponsorship of the $200 million Foundation Re IV Ltd. (Series 2023-1) catastrophe bond in December 2023 helped to raise the top of its reinsurance tower. For 2024, the Foundation Re IV 2023-1 catastrophe bond provided the company 66.67% coverage across a $300 million layer that attached…
Aon plc said it promoted Anne Corona to North America CEO. She takes over for Lori Goltermann, who was elevated to the role of vice chair of Aon. The roles will begin March 31. Anne Corona Corona has had a 25-year career with Aon, most recently as CEO of Enterprise Clients and global chief commercial officer, leading Aon’s Enterprise Client Group and regional chief commercial officers. Corona has also served as CEO of Asia Pacific and president of Aon’s Financial Services Group. As CEO of North America, Corona will build on the firm’s momentum in the region delivering actionable insights,…
Marsh said Nick Studer will become president and CEO of Marsh Risk, succeeding Martin South, who will become chief client officer of Marsh and work closely with the leaders of the company’s businesses. Nick Studer Studer has been the CEO of Marsh’s Oliver Wyman for the last five years. He has been with Oliver Wyman for about 30 years, and has held senior consulting roles across its consumer, industrial, and financial services practices. Studer’s “experience advising corporate and public sector leaders on risk and transformation makes Nick the ideal executive to continue Marsh Risk’s market leadership and further its trajectory…
The 2022 KFF Women’s Health Survey found that one-third (33%) of female hormonal contraceptive users have missed taking their birth control because they were not able to get their next supply on time. Furthermore, it is estimated that more than 19 million women of reproductive age in need of publicly-funded contraception live in an area considered to be a contraceptive desert, meaning there is limited access to a publicly-funded provider who offers contraception. Research also points to the impacts of state and federal policies on the shrinking number of family planning providers that offer the full scope of contraceptive methods…
In 2019 Florida lawmakers, after a hard-fought legislative effort, provided benefits—outside the workers’ compensation system—for firefighters diagnosed with 21 types of cancer. On Monday, the Florida House of Representatives gave final passage to Senate Bill 984, which would speed up the benefits for survivors and would extend one-time payments to former firefighters diagnosed with cancer. “Firefighters across Florida put their lives and long-term health on the line every day for our communities. This bill ensures that when those risks lead to cancer, our laws are clear, fair and compassionate,” Rep. Demi Busatta, R-Miami, said on the House floor. The House…
“Our vision is to make Marsh the most impactful professional services firm in the world,” Doyle said in a statement. “These appointments will help us accelerate growth, increase our agility, unlock additional value for our clients, and realise our vision.”
“Our vision is to make Marsh the most impactful professional services firm in the world,” Doyle said in a statement. “These appointments will help us accelerate growth, increase our agility, unlock additional value for our clients, and realise our vision.”