Catastrophe risk modeling firm AIR Worldwide announced it has developed a probabilistic model for cyber risk, which is capable of accounting for security breach and cloud service provider downtime incidents for insurance portfolios worldwide. AIR’s probabilistic cyber model estimates the …
The London Market Group (LMG) announced that a contract has been signed with Sequel to deliver a faster and more efficient solution for approving and registering coverholders, and a new integrated tool for generating delegated authority binder contracts. This is …
Microsoft Corp. has helped develop a way to protect corporate buyers of clean power from electricity prices that go up and down with the weather. The company is using a risk-management tool called a volume-firming agreement for almost 500 megawatts …
Flood specialist JBA Risk Management has rolled out its high-resolution flood maps and associated pricing data for the continental United States starting with the State of Florida. These new maps are designed to enable (re)insurers and others with an interest …
Aon plc announced it has formed a new unit called New Ventures Group, which is designed to increase Aon’s investment in innovative new businesses. The global unit will identify, incubate and deliver new sources of value for clients, explained an …
AXA XL’s North America marine insurance business has expanded its coverage options for the marine insurance market with a new policy specifically designed and delivered to address workboat risks. AXA XL’s Workboat policy offers owners workboats standalone hull and liability …
International Marine Underwriters (IMU), a member of OneBeacon Insurance Group, has expanded its product offering with information risk coverage to address a broad range of cyber incidents including data breach, threat of intrusion or interference with computer systems, damage to …
The London market’s electronic placing platform, PPL Ltd., announced that the treaty reinsurance class of business went live on the platform today, completing its roll out of products. PPL said its focus will now be on continuous improvement of the …
Simplesurance founder and CEO Robin von Hein sat down last year with Insurance Journal’s sister publication, Carrier Management, to discuss the company’s strategy. Based on the edge of Berlin’s trendy Mitte district in bright, open offices, Simplesurance is yet another …
Theft of cryptocurrencies through hacking of exchanges and trading platforms soared to $927 million in the first nine months of the year, up nearly 250 percent from the level seen in 2017, according to a report from U.S.-based cyber security …
