Although event cancellation insurance represents a very small percentage of overall property/casualty premium, the losses for carriers that write this line of business amid the COVID-19 outbreak still could be significant, according to a new AM Best commentary. Losses on …
Imagine your company having a Halloween party: Employees show up wearing costumes mocking your customers, says the chief executive of a New York commercial insurance brokerage we recently interviewed. “Now imagine what happens when pictures of the party go public.” …
I keep seeing agencies that need dramatic improvements to their accounting practices. Many such agencies are small, but not all. Many are new agencies, although some larger agencies have had shoddy accounting practices for 50 years. Most of the time …
The share of businesses buying cyber insurance continued to increase in 2019, driven by growing recognition of cyber threats as a critical business risk, says a new report. Marsh’s 2019 Cyber Insurance Purchasing Trends Report found that 42% of the …
Truckers Physical Damage Market Detail: Rocklake Insurance Group (www.rocklakeig.com) offers multiple carriers for physical damage needs. It offers broad and limited forms with flexible options to choose which coverage fits the insureds’ needs. Producers can quote up to $2 million …
What may be the first U.S. securities lawsuits alleging misdeeds related to coronavirus were filed in late March — one against a cruise line and another against a pharmaceutical company that claimed to have developed a vaccine for COVID-19. There …
The number of ransomware attack notifications against insurance clients increased by 131% in 2019 and the funds demanded by the attackers surged along with the counts. A new report from specialty insurer Beazley’s Breach Response (BBR) Services, cybercriminals have been …
The insurance industry has been working to educate policyholders about the cyber risks their businesses face for many years, but the increasing frequency of ransomware attacks on businesses and municipalities is elevating this ever-changing risk to a new level that …
One of the most interesting and rapidly-growing technologies emerging for small business owners is the use of unmanned aerial vehicles, commonly known as drones. In 2019 alone, there were nearly 1.3 million registered drones in the United States and more …
National Mark Friedlander and Kris Maccini have been appointed to senior communications positions at the Insurance Information Institute (III) to broaden the organization’s traditional and social media operations. As III’s Florida communications consultant since July 2019, Friedlander is now its …
