Markets/Coverages News

CFC Partners With Cyber Security Ratings Firm to Evaluate Insureds’ Cyber Risk

Specialist lines underwriting agency CFC has formed a partnership with cyber security ratings agency, BitSight Technologies. CFC will use BitSight’s ratings tool to provide insight into the cyber threats that their clients face. Ratings are calculated on a daily basis …

San Andreas Movie: Facts Within Fiction

Released in late spring 2015, the movie San Andreas tells the story of massive earthquakes devastating California as a helicopter pilot and his (formerly estranged) wife try to find and rescue their daughter. Having defeated the likes of genetically engineered …

Crowdsourcing Pollutant Detection: A Look at the Promise & Perils of Citizen Science

Far from being a new idea of the 21st century, scientific research conducted by amateur or non-professional scientists has a long and distinguished history. (Think Benjamin Franklin or Charles Darwin, for example.) What is new, however, is the wide array …

U.S. Power Grid Attack Could Cause $70 Billion in Insurance Losses: Lloyd’s Report

A cyber attack on the U.S. power grid in the Northeast would have far-reaching implications including the loss of lives, economic losses of as much as a trillion dollars, the disruption of water supplies and transportation, and potentially more than …

Commercial Insurance Prices Remain Static for Fourth Month: MarketScout

Commercial insurance rates have barely budged at all over the last four months, according to the MarketScout report for June. Only the business interruption line saw rates go down in June from the previous month and those were only down …

Analysis of Chubb’s Future Position in P/C Product Lines

Just a little over six months ago, ACE announced a deal to acquire the high-net-worth personal lines business of Fireman’s Fund from Allianz, competing against Chubb, which holds the leading position in the space. The announcement that ACE will buy …

Expanding Your Sales Portfolio? Give LTCI a Second Look

If you don’t offer your clients long term care insurance (LTCI), you may be missing out. This rapidly-evolving product is more attractive than ever. LTCI is more versatile than you may remember, thanks to recent product development innovations. The need …

New Regulatory Guidance Affects Insurers, Producers

Producers, brokers and insurers are all targeted by cyber attackers looking for personal identifiable information (PII) that can be used to open fraudulent credit cards. To protect PII, in April the Cybersecurity (EX) Task Force of the National Association of …

What Insurers Want to Know When Considering Wearable Devices

In a recent blog on the subject, Mark Breading, a partner at SMA, weighed whether wearables would hurt or benefit insurers. He provided some key questions insurers should consider in developing wearables strategy. They include: • Will data derived from …

GEICO Expands Ridesharing Coverage to Georgia

GEICO has continued the expansion of its new auto insurance product for drivers of transportation network companies (TNC) with the addition of Georgia. GEICO offers ridesharing coverage through GEICO Commercial for less than taxi and commercial rates. GEICO first introduced …