Research and Trends News

Cyber Risk Management Fails to Measure Up to Escalating Cyber Risks: Marsh, Microsoft

Few organizations are highly confident in their ability to manage the risk of a cyber attack, despite viewing cyber security as a top risk management priority, according to a new global survey conducted by Marsh and Microsoft Corp. In the …

The High Cost of Cybercrime to Insurers and Banks

Cyberattacks cost financial-services firms more to address than any other industry and the rate of breaches in the industry has tripled over the past five years, according to a report from Accenture and the Ponemon Institute. However, while cyberattacks have …

Widespread Market Firming Unlikely Even as Property Rates Rise: WTW

Commercial property insurers are seeking double-digit rate hikes on catastrophe-exposed insurance programs following 2017’s record catastrophes; however, abundant capacity in the form of traditional and alternative capital is likely to depress widespread market firming, according to global advisor Willis Towers …

What to Expect in Workers’ Compensation Pricing in 2018

Workers’ compensation rates in 2018 will be mixed, with some programs seeing pricing flat to down and others seeing spikes, according to a market prediction from the broker USI. In other words, market trends should continue as they did in …

Marine P&I Clubs Face Intense Pricing Pressures in February Renewals: A.M. Best

While the balance sheets of clubs operating in the marine protection and indemnity (P&I) sector are generally strong, underwriting discipline will be tested over the February 2018 renewal period, according to a report by A.M. Best. Intense competition, exacerbated by a …

London Unprepared to Be Early Adopter of Autonomous Vehicles: Report

London is ill-prepared to become an early adopter of cutting-edge transport technology including driverless cars and retail deliveries by drone, according to the city’s lawmakers. While the U.K. government has predicted that connected and autonomous vehicles, or CAVs, will be …

Senate Report Links Drugmakers’ Donations to Opioid Crisis

Five opioid manufacturers including OxyContin maker Purdue Pharma LP have paid more than $10 million to advocacy groups and doctors tied to them, many of whom amplified industry messages supporting the use of the painkillers, a U.S. Senate report said …

How States Differ in Effect of Obesity on Health Care Costs

The prevalence of obesity has risen dramatically in the U.S., but there has been little information about the economic impact of this trend for individual states. Recent research by John Cawley, professor of policy analysis and management at Cornell University, …

Why Tax Cuts May Curb Insurers’ Municipal Bonds Appetite

Put on the Taylor Swift and pull out the Ben & Jerry’s ice cream: The municipal-bond market’s long relationship with property and casualty insurance companies may be breaking up. That’s because last year’s tax overhaul slashed corporate rates to 21 …

January Windstorms to Cost Europe’s Insurers More Than $2B: Aon

European windstorms Friederike, Eleanor and Carmen wreaked widespread damage in January, causing insured losses of more than $2 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. Of the Atlantic storm systems that hit …