Travelex Ransomware Attack Part of Growing Trend in Cyber Crime: CyberCube January 9, 2020 By L.S. Howard The ransomware attack against U.K. foreign exchange firm Travelex is just a taste of what’s to come with cyber crime,...
Beazley and RenaissanceRe Launch Cyber Catastrophe Cover Backed by Capital Markets January 9, 2020 Specialist insurer Beazley and reinsurer RenaissanceRe have jointly launched a product that provides Beazley with additional catastrophe cover for cyber...
Parametric Insurance Fills Gaps Where Traditional Insurance Falls Short January 9, 2020 By Daniel Brettler and Timothy Gosnear Although parametric solutions have been generally available since the late 1990s, they have more recently found their way into corporate...
Tensions Between U.S. and Iran Hamper Probe of Boeing 737-800 Crash near Tehran January 8, 2020 By Christopher Jasper As investigators sift through the charred wreckage of a jetliner that crashed shortly after takeoff from Tehran, contradictory reports have...
Generali Completes Acquisition of Portugal Insurer Seguradoras Unidas from Apollo January 8, 2020 Generali finalized the acquisition in Portugal of the insurer Seguradoras Unidas and the health services company AdvanceCare from Apollo Global...
Natural Catastrophes Cost $150B in 2019, with Insurers Paying $52B: Munich Re January 8, 2020 By L.S. Howard Natural catastrophes caused overall losses of US$150 billion during 2019, including insured losses of about US$52 billion, which matches the...
Update: U.K.-Based Foreign Exchange Firm, Travelex, Crippled by Ransomware Attack January 8, 2020 By Noor Zainab Hussain and Kirstin Ridley Staff at foreign exchange firm Travelex are using pen and paper to serve thousands of customers after the company said...
Starr Insurance Names Swiss Re’s O’Ryan as Canadian Manager, General Aviation January 8, 2020 Starr Insurance Cos. has appointed Paul O’Ryan as Canadian territory manager, general aviation, effective Jan. 6. O’Ryan joins Starr from...
British Regulator Warns Insurance Industry to Stamp Out Bad Behavior – or Else January 8, 2020 Britain’s markets watchdog has told the bosses of commercial insurance companies to stamp out bad behavior in the industry and...
Insurance Industry Calls for Action to Mitigate Climate Risk as Australia Bushfires Widen January 8, 2020 By Emily Cadman As the devastation from Australia’s bushfires widens, the insurance industry is calling for concerted action to mitigate the impact of...