Ransomware attacks are up 95.41% globally in 2023 year over year, a trend showing no signs of slowing. The number of ransomware victims to date in 2023 (3,311) has already surpassed totals for the entirety of 2021 (3,048) or 2022 …
DBRS Morningstar experts anticipate increased reliance on government insurance programs as insurers exit catastrophe-prone states. New commentary from the credit ratings business said these departures could “eventually trigger declines in property valuations in the affected regions if alternative sources of …
Insurance broker Marsh said it is starting a global cyber practice at the start of 2024, led by Tom Reagan. Currently Marsh Specialty’s cyber practice leader, US and Canada, Reagan will become global specialty head of cyber. He will continue …
As lawmakers around the world weigh bans of cancer-linked “forever chemicals,” many manufacturers are pushing back, saying there often is no substitute for the compounds. Minnesota and Maine have passed legislation to effectively outlaw the use of per- and polyfluoroalkyl …
Arthur J. Gallagher & Co. today said it has signed a definitive agreement with Cadence Bank to acquire Cadence Insurance, Inc. for $904 million cash. Baton Rouge, Louisiana-headquartered Cadence Insurance, the second largest bank-affiliated insurance brokerage in the nation, offers …
Artificial intelligence companies and governments should allocate at least one third of their AI research and development funding to ensuring the safety and ethical use of the systems, top AI researchers said in a paper on Tuesday. The paper, issued …
The Hartford said Stephen Deane will return to the company as chief claims officer effective Nov. 6 after he spent the last three years at Liberty Mutual Insurance, where he served as executive vice president and chief claims officer, Global …
Compared to last year, more than twice as many startup founders reported talking to their investors and boards about cyber protection often or always, according to a new Embroker cyber risk index. That number reached 83% in 2023, a 42% …
Executive summary: Tony Buckle and John Carolin, co-founders of the boutique insurance consultancy UWX, analyze underwriter motivation during the soft phase of the market cycle. While average market prices are the hardest seen in years, some price softening has begun …
Third quarter net income at W.R. Berkley Corp. increased nearly 46% compared to the same period last year to about $334 million. The Greenwich, Connecticut-based insurer’s consolidated combined ratio for the quarter improved to 90.2 from 92.1 a year ago …
