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Business email compromise (BEC), whereby hackers target senior executives via phishing emails, is a devastating but overlooked cyber threat, according to a report from broker Guy Carpenter and parent company Marsh McLennan’s Cyber Risk Intelligence Center. The report, Cyber’s Sleeper Threat: Business Email Compromise, is based on... For this and other #cyber & #technology insurance stories, see... https://lnkd.in/grBs95Jx #cyberthreat #cyberinsurance Marsh

Commercial property insurance market conditions in the US continued to moderate at mid-year renewals, with some policyholders seeing rate decreases and others only single-digit price hikes, depending on their location, loss experience and programme structure. After years of hardening market conditions, insurers are expanding catastrophe capacity, driving greater competition, brokers say. More here... https://ow.ly/R7ch50SyMer #USPropertyInsurance #USCommercialPropertyInsurance Aon

👀LOOK - NEW WEBINAR! The spectre of US-style litigation coming to Europe has long been a concern for corporates, especially when it comes to class actions. The sums involved can be huge, both in terms of damages and defence costs, not to mention the time and effort it takes to defend against such claims, and the impact not only on the company but also its directors and officers. BOOK HERE for your FREE space: https://ow.ly/2eKA50Sos4y This webinar will look at the US problem, how it may be expanding to Europe, will examine how its impact can be mitigated and managed, and will ask the following questions: 👉What is social inflation? What are the main drivers? What are the tactics used by US plaintiff attorneys and how can they be defended against? 👉What does all this mean for risk managers in Europe? 👉What lessons can be learned from the US market experience? 👉What measures and plans can be implemented to lessen the impact, in terms of safety management and processes. 👉Which areas are likely to see growth in litigation cases? Will ESG become a battleground, with issues such as equal pay, human rights abuses within supply chains, greenwashing and diversity and inclusion? ⭐️Join our experts⭐️ 👉Anthony Jefferys, Global Head of Liability Underwriting, Zurich Insurance Company 👉Allen Kirsh, Sr. Vice President – Head of Claims Judicial and Legislative Affairs, Zurich North America 👉John Shane, Global Head of Casualty Claims, Zurich Insurance Company BOOK HERE for your FREE space: https://ow.ly/2eKA50Sos4y Zurich InsuranceZurich North America#ComRiskEvents24 #RiskManagement

Insurance rates continue to rise slightly overall but mounting capacity, particularly in excess lines, is likely to make things more competitive as the second half progresses, Sierra Signorelli, CEO Commercial Insurance at Zurich, told Commercial Risk. “We continued to see... More here https://ow.ly/jvVn50SyLVl #Insurance #ZurichInsurance #InsuranceRates Zurich Insurance Zurich Commercial Insurance

New shipping regulations introduced by the International Maritime Organization (IMO) to reduce sulphate emissions from vessels could be the “culprit” for a rapid rise in global temperatures, which set new records for 12 consecutive months between June 2023 and May 2024, according to Moody’s. More here on this and other climate change insurance stories ... https://ow.ly/fBUz50Sy7Ib #ClimateChange #ShippingNews Moody's #ShippingRegulations

North Atlantic hurricane activity in 2024 will be hyper-active, according to the latest prediction from TSR (Tropical Storm Risk), with activity almost double the 1991-2020 climate norm. It is predicting an increased number of major hurricanes and named storms compared to its previous forecast released in April. More here... https://ow.ly/5lsQ50Sy7tp #NorthAmericanHurricanes #HurricaneInsurance #storminsurance #TropicalStormRisk

🌟REGISTRATION OPEN🌟 Construction Risk Management Asia conference | 17 October 2024 | Singapore The second edition of the Construction Risk Management Asia conference will bring together senior risk leaders from contractors and project owners, insurers, brokers and other service industry firms for a full day of debate and analysis. They will explore how firms are adapting their approach to risk, changes to risk strategies, the evolving role of risk leaders in the effort to manage and mitigate existing and new threats and the collaborative approach required between insurers and the industry in order to develop solutions that enable the transfer of risk. BOOK YOUR PLACE... https://ow.ly/amOm50S8HLi #ComRiskEvents #ConstructionRisk Aon #RiskManagement

Berenberg said it is not surprised by press reports that global insurers are “circling” Lloyd’s carrier Hiscox because it believes London-based specialty (re)insurers are currently underpriced. The note from the investment bank follows an... https://ow.ly/Jcrz50SxS9A #Insurance #InsuranceNews Berenberg

US commercial insurance rates increased 4.4% in the second quarter of this year, compared with 3.9% in Q1, according to MarketScout. Commercial auto coverage again increased the most, rising 8% compared with a 6.7% jump in the first quarter. Commercial property rates rose 7% in the second quarter, compared with ... More here... https://ow.ly/GQmo50Sxeke #USInsurance #USInsuranceRates #MarketScout

Firmer reinsurance rates and improved profitability have yet to see an influx of new entrants into the reinsurance market, bucking the trend of previous cycles, according to AM Best. “A class of startup reinsurers usually forms quickly to capitalise on the interruption in the reinsurance demand-supply equilibrium,” said Dan Hofmeister, associate director of AM Best. But while reinsurers are banking returns not seen for 30 years, the anticipated ‘Class of 2023’ failed to get going and the market is “noticeably devoid of new reinsurer formations”, he added. More... https://ow.ly/Tkt350Sxebb #rensurance #AMBest #reinsurers AM Best