small and medium-sized enterprises (SMEs) News

Pool Re Takes Steps to Make Terrorism Cover More Accessible to U.K. Businesses

Pool Re, Britain’s leading terrorism reinsurer, announced it is taking steps to help reduce costs and improve the accessibility of terrorism insurance for businesses in the U.K., in part by expanding the definition of small and medium-sized enterprises (SME). The …

Arch Insurance (UK) Launches Cyber Product for Small and Medium Sized Businesses

Arch Insurance (UK) Ltd., the London-based subsidiary of Arch Insurance International, is set to enter the cyber insurance market with a new product focused on the needs of small and medium enterprise (SME) clients and their insurance brokers. The product …

Zurich, CoverWallet Launch Online Insurance Platform for Smaller Firms in Switzerland

Zurich Insurance Group’s investment in CoverWallet is bearing fruit, with Zurich now providing insurance for small and medium-sized businesses in Switzerland via CoverWallet’s online platform. CoverWallet uses analytics and state-of-the-art technology to simplify how small businesses buy insurance. Zurich acquired …

Financial, Reputational Costs of Cyber Attacks Can Ruin Small, Medium Firms: Chubb

The average price tag for a business to recover after a cyber attack is $400,000, which can be fatal for small-and-medium-sized enterprises (SMEs), according to a report published by Chubb. This hefty cost of repairing the business and its reputation …

Asia-Pacific SMEs Are Over-Confident About Their Cyber Preparedness: Chubb

A significant perception gap exists between the cyber awareness and cyber preparedness at small and medium enterprises in some Asia-Pacific countries, according to a Chubb survey titled “Too Small to Fail?” The Chubb survey of 1,000 SMEs across Singapore, Hong …

Most UK SMEs Don’t Understand Risks of Cyber Attacks, Data Loss: Aon Poll

A poll of small and medium-sized enterprises (SMEs) and micro businesses in the UK shows over half are confused by or even unaware of the rules around the EU’s General Data Protection Regulation (GDPR), while more than eight out of …

SME Law Firms in England & Wales May See Rise in Professional Indemnity Rates: Marsh

Some professional indemnity (PI) insurers are applying greater rigor, are being increasingly selective, or are repricing risks, for small and mid-sized law firms in England and Wales, warned Marsh in a market update. As Oct. 1 approaches – the most …

Advent Launches Political Violence Pricing & Placing Platform for SMEs in MENA

Lloyd’s insurer Advent announced the launch of its online pricing and placing tool, PVPlus. Developed in partnership with CFC Underwriting, this solution gives small and medium sized (SMEs) businesses in the Middle East and North Africa region access to low-ticket …

Tokio Marine Kiln Forms Strategic Agreement with Australian Insurtech Firm Evari

Tokio Marine Kiln (TMK), the specialist and corporate insurance business, announced it has formed a strategic agreement with Australian insurtech firm Evari. The agreement will allow TMK to access Evari’s digital insurance platform and on-demand products in the Australian market. …

Marsh Subsidiary Jelf to Acquire Scottish Insurance Broker Clark Thomson

Jelf, a consultant that specializes in insurance, risk management and employee benefits, announced it has reached an agreement to acquire Clark Thomson, Scotland’s largest independent insurance broker. The transaction is expected to close in the second quarter of 2018. Terms …