Commercial Lines articles – Page 68
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NewsLloyd’s of London’s reserving for Ukraine crisis is a 'sensible reserve position’
Lloyd’s had arrived at its reserving figure for Ukraine-related claims via a ’probability weighted exposure reserving method’, says chief financial officer
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NewsClimate change discussion is ‘more urgent than ever before’ to gain independence from Russia
Reinsurer cites dual motivations as to why climate change and the transition to net zero carbon emissions needs to be pushed up global agendas
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NewsRussia’s sovereign internet could see cyber insurance implications – CyberCube
A sovereign Russian internet could lead to cybercriminal safe havens which could see implications for cyber insurance according to the latest report from CyberCube published today (12 September 2022).
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NewsNot all cloud downtime losses covered by cyber errors and omissions insurance – Parametrix
The limited coverage is characterised by low coverage limits, long waiting periods, narrow coverage triggers, significant deductibles and long claims processes
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IT InterviewJoshua Motta: The MGA hitting the UK with ‘reinvented’ cyber security insurance
It is now harder than ever to purchase cyber insurance in the UK, with capacity being pulled back, increasing exclusions and price increases – but Coalition aims to overhaul the market at a time when SMEs need it most
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AnalysisBriefing: Brokers fear professional indemnity market crunch will only worsen
Despite the industry’s attempts to mitigate construction PI risks, capacity is still being squeezed in this line of business
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AnalysisCost of living crisis drives greater fraud volume and frequency from non-traditional sources
Counter fraud experts explained that difficult economic conditions are leading to increased levels of fraud from non-traditional perpetrators, necessitating a rethink of existing anti-fraud models
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NewsSpecialist Risk Group completes motor trade broker buy
The intermediary plans to help its new purchase ‘fulfil the next stage of their growth plans’
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NewsFleets see 30% fewer claims by adopting telematics – Zego
As the cost of living crisis continues to squeeze finances, fleets can benefit from cost savings while meeting customer demand by leveraging telematics technology
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NewsSchools want more crime and risk guidance from brokers – Ecclesiastical
The results of the insurer’s survey highlight an opportunity for brokers to engage with education clients
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AnalysisEmerging Bazarcall ransomware attacks reinforce cyber risk to SMEs
A more ’robust and joined up approach’ is needed to combat the risks UK businesses are facing from cyber attacks, such as those distributed by bogus call centres, says director
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NewsIUA tackles high-rise fire safety risks with new model insurance clause
The representative body hopes that its new clause will provide underwriters with ‘greater confidence to offer effective insurance solutions’ to firms that are working to remove dangerous cladding from high-rise buildings
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NewsD&O insurance pricing down – Aon
Despite branding market conditions for the line as moderate, the broker noted that pricing fell, capacity was abundant and underwriting was more flexible
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NewsUK local councils hit by 2.3 million cyber attacks so far in 2022 – Gallagher
Only 23% of councils currently hold a cyber-insurance policy despite a rise in cyber attacks
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NewsDemand for trade credit cover will increase even as appetite reduces – Aon
Supply chain issues, inflationary pressures and geopolitical uncertainty contributed to the market’s challenges in Q2 2022
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NewsZego inks deal with QBE to expand telematics-based fleet insurance offering
The pair share a passion for innovation around risk, says insurtech’s chief executive
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NewsSompo International agrees sale of EAL to ‘withdraw’ from Lloyd’s
The move marks the culmination of the firm’s strategy to divest itself from Lloyd’s and focus on the London market
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AnalysisBrokers should prioritise ‘critical’ cloud security following largest ever DDoS attack
The attack on a Google Cloud Armor customer was equivalent in scale to receiving all of the web’s daily requests to Wikipedia in just 10 seconds
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NewsTaxi driver pays £12,500 in damages after staged three vehicle crash
The savings associated with preventing the fraudulent claim, including legal costs, amount to £175,000, according to law firm
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AnalysisBriefing: Russia-Ukraine conflict takes toll on insurers’ half-year results
Insurers are preparing for further losses as Russia continues to hold on to leased planes
