Market News
Almost Four Times More Budget Is Being Spent On Property-Related Risks vs. Cyber-Risk
Organizations now believe that their cyber-assets are more valuable than plant, property, and equipment assets, even though they are spending four times more budget on insurance protecting the latter risks, according to the "2017 Cyber Risk Transfer Comparison Global Report" from Ponemon Institute. Read More
New Vermont Captive Insurance Legislation Signed into Law
New legislation making improvements in Vermont's captive law has been signed by the governor. The new legislation adds agency captives to the list of captive types allowed in the US domicile. Other important changes include allowing broader accounting systems, expanding dormant captives, and clarifying risk retention group governance standards. Read More
Risk Professionals Must Increase Their Understanding of Disruptive Technology and Its Risks
A disturbing percentage of risk managers are unaware of the prevalence of disruptive technologies in their organizations and the impact of those technologies on their organizations' risk profiles, according to a report published jointly by Marsh and RIMS. Risk professionals need to close this substantial knowledge gap to manage rapidly advancing disruptive technology risks. Read More
Cyber-Espionage and Ransomware Attacks Are on the Increase
Cyber-espionage is the most common type of attack seen in manufacturing, the public sector, and now education, warns the Verizon "2017 Data Breach Investigations Report." Much of this is due to the proliferation of proprietary research, prototypes, and confidential personal data, which are hot-ticket items for cyber-criminals. In addition, organized criminal groups escalated their use of ransomware to extort money from victims. Read More
Georgia To Amend Its Captive Insurance Company Act
Senate Bill 173 to the state of Georgia Captive Insurance Company Act was sent to the governor to sign. The bill incorporated revisions to certain provisions and definitions that clarify the Captive Insurance Company Act, impose minimum requirements for articles of incorporation, allow captives to be formed as limited liability companies rather than stock companies, place restrictions on agency captives, and provide for certain powers and requirements by the commissioner of insurance. Read More