Cyber Market Hampered by Insurability Challenges: Geneva Assoc. Report December 9, 2016 By L.S. Howard While insurance against cyber risk represents a tremendous new business for the insurance industry, numerous problems with the insurability currently...
ThyssenKrupp’s Trade Secrets Targeted in ‘Massive’ Cyber Attack December 8, 2016 By Eric Auchard and Tom Käckenhoff Technical trade secrets were stolen from the steel production and manufacturing plant design divisions of ThyssenKrupp AG in cyber attacks...
New Zealand Quake’s Insured Losses Estimated at $705M-$3.5B: Aon Cat Report December 8, 2016 Insurance losses from last month’s magnitude 7.8 earthquake in New Zealand are likely to range between NZ$1.0 to 5.0 billion...
Indonesia’s M6.5 Quake Kills Nearly 100 with Low Insurance Losses Expected: AIR December 8, 2016 An M6.5 earthquake jolted the northernmost area of Sumatra, Indonesia, on Dec. 7 at 5:03 a.m. local time, with nearly...
Wilson to Succeed Cloutier as Brit Ltd.’s Group CEO December 8, 2016 Brit Ltd., the London-based specialty insurer, announced the appointment of Matthew Wilson as group chief executive officer, effective Jan. 1,...
Efma & Accenture Invite Entries for 2nd Annual Innovation in Insurance Awards December 8, 2016 Efma and Accenture have issued a joint call for entries for the second annual Innovation in Insurance Awards, with insurance...
TPA Gallagher Bassett Names McNamara as Managing Director, Australia December 7, 2016 Third party administrator Gallagher Bassett (GB)* has appointed John McNamara to the position of managing director – Australia, effective Jan....
Insured Losses from Italy’s October Earthquakes Estimated at $33.3M: PERILS December 7, 2016 The initial estimate of the property insurance market loss from the series of earthquakes that hit central Italy in October...
Credit Guarantee & Investment Facility Signs Inaugural Treaty Led by Munich Re December 7, 2016 The Credit Guarantee and Investment Facility (CGIF)* announced it has executed its inaugural reinsurance treaty, with a panel of market...
Rising Risks Could Cost Global Cities $1.17 Trillion of GDP in 2017: Cambridge Study December 6, 2016 By L.S. Howard The costs of major shocks to the global economy from natural and manmade threats could put at risk $1.17 trillion...