Market News
Rating Agency Cites Negative Impact of Growing Ransomware Threat
The frequency, severity, and sophistication of ransomware attacks in the United States rose dramatically in 2021 from a year earlier, according to Fitch Ratings. That trend is likely to continue as long as the profit incentives remain high for cyber criminals and outweigh the perceived risk of prosecution. Read More
May "CICR" Looks at Cyber Risk and Possible Solutions
Don't miss the May issue of "Captive Insurance Company Reports" ("CICR"), in which Dr. Marcus Schmalbach, CEO of RYSKEX GmbH, explores systemic cyber risk and potential solutions. Read More
No Time Like the Present: Loss of Key Employee Insurance
The experience of the COVID-19 pandemic has given many businesses an opportunity to recognize the potential business impacts of losing key employees. Recognition of this trend is one more reason for businesses to reassess and develop effective risk mitigation strategies to counteract the loss of key employees. Read More
Strategic Risk Solutions Adds Second Luxembourg Office
Independent insurance company manager Strategic Risk Solutions (SRS) is continuing its expansion in Europe with the opening of a second Luxembourg office. SRS has a 5-year strategy plan to expand in Europe, and the appointment of key executives over the past 2 years and opening the additional office in Luxembourg are part of that plan. Read More
Insurers' Reserve Strength Offsets Near-Term Inflation Concerns
US property-casualty insurers' loss reserves mitigate near-term inflation concerns, though prolonged inflation could significantly increase the risks of significant pricing errors and reserve deficiencies, according to Fitch Ratings. The rating agency said the US property-casualty industry's statutory loss reserves remained adequate at the end of 2021. Read More