Market News
Insider Threats Growing as a Factor in Cyber-Attack Incidents
Insider threats are rising to new levels as a percentage of cyber incidents, perhaps as a function of a highly fluid labor market and economic uncertainty. According to Kroll, LLC, this year's third quarter saw insider threats reach their highest quarterly level to date. Read More
Report Suggests Hurricane Ian Ended Decelerating Property Rate Trend
Hurricane Ian "effectively ended" the decelerating rate trend seen in the commercial property insurance market during the first half of this year, according to a third-quarter market analysis from broker Woodruff Sawyer. The commercial casualty segment was largely unchanged in the third quarter from the prior 3 months. Read More
AXA XL Adds Cyber Insurance Option to Lawyers Errors and Omissions
AXA XL has added Cyber Suite, a cyber-and-security-insurance coverage, as an option to its lawyers'’ errors and omissions (E&O) insurance program. A number of coverages are available under AXA XL's Cyber Suite to help law firms that are victims of data breaches or other cyber crimes. Read More
Captives May Play an Important Part in Meeting Parents' ESG Goals
Captive insurance companies' potential role in addressing environmental, social, and governance (ESG) issues is an untapped opportunity, a new report suggests. The Aon report, "Using a Captive Insurance Company To Drive Positive ESG Outcomes," suggests that captives are a "natural nexus" between global financial systems and the broader economy. Read More
Inflation, Worsening Driving Behaviors Increase Auto Insurer Losses
Inflation and continuing deterioration in driving behaviors are combining to pressure auto insurers, according to the American Property Casualty Insurance Association (APCIA). The highest inflation in 40 years has contributed to insurance claim costs rising faster than the underlying consumer price index, outpacing increases in premiums, the APCIA said. Read More