Insurance Industry

Crypto Insurance Gap Reveals $3.31 Trillion Market Opportunity

With only 11% of cryptocurrency holders insured despite strong demand, insurers face both significant challenges and substantial opportunities, according to commentary from AM Best.

MGA Premiums Increase in 2024, Marking Fourth Consecutive Year of Double-Digit Growth: AM Best

Swiss Re’s Will Porter Discusses Promising International Program Business Opportunities

When Prayers Aren’t Enough: Why Insurers Are Turning to AI to Stop the Next Mass Shooting

Wall Street’s Next Crash Won’t Be Human-Induced: The Looming Threat of AI-Triggered Market Meltdowns

Recently in Insurance Industry

Captive Owners Ready to Make a Move Find a Sweet Spot in Vermont

A business-friendly environment attracts captives looking to redomicile.

Insurers and Marsh to Score Cyber Security Products: But Will That Make Us Any Safer?

Marsh announced the creation of a program that brings together leading cyber insurers to evaluate and identify the solutions they consider most effective in reducing cyber risk.

Here’s How Vermont Regulators Faced Down an Onerous Federal Tax Law

Vermont regulators came up with a creative way to save crucial dollars based on ceded risk.

We Always Talk About Diversity and Inclusion; Here’s 7 Ways to Make Those Words Actually Mean Something

The words diversity and inclusion hold subtle differences in definition that are important to understand.

8 People on the Move

Key executive appointments across various segments of the insurance industry.

Ohio Law Requires Insurers to Adopt NAIC Cyber Security Model; More States Expected to Follow

Ohio is the second state to adopt the Insurance Data Security Model Law from the NAIC. Rumor has it, other states are likely to follow.

15 Things You Must Know About Insuring Mega-Projects: The Core Insurance Instruments

A deeper look at the insurance options on construction mega-projects.

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Legal Roundup: Bayer’s Problematic Weedkiller, Facebook Gets Phished, Medical Fraudsters Dupe Roche

A look at some of the recent court cases and legal decisions that have an impact on the industry.

8 People on the Move

Chubb, Liberty Mutual, Hamilton Insurance Group and more see execs rising in their ranks in this edition of People on the Move.

Risky Social Media Posts Could Increase Life Insurance Costs; Who’s to Say Other Lines Can’t Follow Suit?

Guidelines introduced in New York outline how life insurers can look to social media to assess risk — and it likely won’t be long before similar strategies are applied to other types of insurance, too.

The Internet’s Broken, But Cyber Insurers Can Help Fix It

The inventor of the World Wide Web says we can do better with this connective platform. Insurance has an opportunity to do just that.

15 People on the Move

AmWINS, NJM Insurance, Baldwin Risk Partners and PerSE all add talent in this week’s edition of People on the Move.

Opioid Lawsuits Could Force Purdue Pharma Into Chapter 11; Are Prescribers, Pharmacies and PBMs Next?

News that Purdue is exploring filing for Chapter 11 bankruptcy suggests the company might be trying to avoid financial liability in opioid-related suits.

Data Regulations Are Increasing; It’s Time to Re-evaluate Your Cyber Defense Now

GDPR reinvented the way data is collected. Now, more robust covers are coming to market while companies engage their boards in cyber security.

4 Trends Attendees Will Be Talking About at RIMS 2019

Ahead of RIMS’ annual conference in late April, we sat down with industry executives to see what trends they’ll be keen to discuss at the show.

How These New ‘Secret-Gathering Portals’ Are a Boon to Risk Management  

College sports teams are employing companies to collect potentially damaging anonymous complaints, helping them stay ahead of risk.

Why Pressure Is Building on the Casualty Market

The casualty market is being squeezed by more liberal jurors, more litigation funding and more mega verdicts.

7 People on the Move

Texas Mutual Insurance Company appoints a new board member, an Insurtech company welcomes COO and the RIMS risk manager of the year is announced.

Exploring the Role of Risk Managers: How We’re Built With the Skills to Lead the Charge

Connecting discreet risk information throughout the business and making sense of it is a difficult task, but corporate insurance and risk management functions have innate skills to lead the charge.

‘Toxic Content’ Costs Google and Facebook Billions in GDPR Fines. What Does It Mean for the Rest of Us?

GDPR laws on privacy allow for fines of up to 4 percent of global revenue for data breaches, which could cost Facebook $2.2 billion and Google $5.4 billion.