Globally, the largest financial losses stem from fires/explosions, aviation incidents, faulty workmanship/maintenance incidents, and storms, which collectively account for more than 50 percent of all claims by total value, according to Allianz Global Corporate & Specialty’s (AGCS) latest Global Claims …
LexisNexis Fire and Disaster Response Aids Insurers in Rating, Underwriting Fire Risk LexisNexis Risk Solutions announced a new data score that will enable insurers to more accurately rate and underwrite local fire responses using predictive analytics. The LexisNexis® Fire and …
QBE North America Offers Integrated Inland Marine Property Coverage for Construction Projects QBE North America, an integrated specialist insurer, announced the next step in its Inland Marine product expansion — the launch of The Solution for Builder’s Risk, a comprehensive …
Bush Tapped to Lead Personal Lines at The Hartford The Hartford announced that Stephanie Bush, who has led Small Commercial since July 2014, will expand her responsibilities to include oversight for Personal Lines. She replaces Ray Sprague, who is retiring …
A new report by Allianz Global Corporate & Specialty (AGCS) outlines how increasingly destructive storms and their extraordinary costs are becoming a “new normal” in the U.S. The average amount paid for extreme events, including windstorms, by insurers between 1980 …
Wolters Kluwer Governance, Risk & Compliance Appoints Paransky EVP and GM of ELM Solutions Wolters Kluwer Governance, Risk & Compliance, a provider of governance, risk and compliance products to legal and financial professionals, appointed Jonah Paransky to the position of …
Donavan to Lead AGCS Cyber Insurance Business Allianz Global Corporate & Specialty SE (AGCS) announced a change in its global cyber leadership team. Effective March 31, 2017, Emy R. Donavan will be promoted to hlobal head of Cyber reporting to …
As energy, transportation, telecommunication and manufacturing companies become more reliant on automation, robotics and connected networks, they are also increasingly vulnerable to cyberattacks. Rather than stealing data, cyberattacks on critical infrastructure and manufacturers are more likely to target industrial control …
The impact of disruptive events, fierce market competition and cyber incidents ranked as top concerns, according to the fifth annual survey on corporate risks published by Allianz Global Corporate & Specialty (AGCS), which surveyed over 800 risk managers and insurance …
The average large business interruption (BI) property insurance claim is now in excess of $2.4 million, 36 percent higher than the corresponding average property damage claim of just over $1.7 million, according to a new report from Allianz Global Corporate …