Global economic losses could reach $5 trillion under a “plausible increase” in extreme weather events linked to climate change that cause crop failures and food and water shortages, insurance marketplace Lloyd’s of London said on Wednesday. Lloyd’s, which carried out …
The Cambridge Centre for Risk Studies (CCRS) at the University of Cambridge Judge Business School is launching a new research consortium that aims to find ways to protect society against future systemic risks. Funding will be provided by an international …
Lloyd’s has launched a new “first-of-its-kind” business interruption policy for small-and-medium-sized enterprises (SMEs), specifically designed to protect them against IT disruption or downtime. Parametrix Insurance offers simple and reliable coverage by removing the traditional indemnity trigger that most insurance policies …
Kovrr, a cyber risk modeling company, announced it has developed an easy-to-use open framework to measure and understand catastrophic cyber risk exposure. The CRA-Zones™ framework defines the minimal elements needed to provide a view of cyber risk aggregations, allows for …
Lloyd’s has launched an insurance policy to protect cryptocurrency held in online wallets against theft or other malicious hacks. The first of its kind liability policy, with flexible limits from as little as £1,000 (US$1,281), was created by Lloyd’s syndicate …
Lloyd’s has launched a new multi-million-pound space insurance policy for the emerging private spaceflight industry. The product is designed to cater to the distinct needs of a rapidly growing new space sector, which, according to Lloyd’s, could be the driving …
Praedicat, Inc., the Los Angeles-based liability risk analytics software company, announced it is developing a new insurance product designed to help global industrials secure coverage for innovative and essential products and chemicals that are typically excluded or under-insured in standard …
A group of Lloyd’s underwriters has launched a new facility with £53 million ($67.5 million) of capacity that is designed to speed up re/insurance product development for new and emerging risks. The Product Innovation Facility is led by senior underwriters …
Lloyd’s announced it is investing in Layr, a cloud-based commercial insurance platform for small businesses looking to purchase liability insurance. The investment follows Layr’s successful trial in the Lloyd’s Lab, which gives insurtech startups the opportunity to work with Lloyd’s …
Ascot and Beazley announced the launch of a Lloyd’s-based cargo consortium, which uses insurtech solutions to help manage risk and claims performance. Led by Ascot and Beazley, the consortium brings together a range of cargo carriers that will provide a …
