Industry stakeholders continue to try to get a grasp of the implications from last week’s massive technology outage affecting motley industries around the world, but the theme of policy language is reoccurring for a cyber insurance industry not known for …
A new study from Aon on Representations and Warranties in transactions shows that compliance with laws has grown to become the third most significant driver of loss, behind only financial statements and material contracts. Aon released its Global Transaction Solutions …
Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024. Q1 natural disaster losses were driven by severe convective and …
More than half of insurance companies expect to increase staff in the next year, according to the latest labor market study from Aon and the Jacobson Group. Meanwhile, 77% of carriers expect to increase revenue in the next 12 months. …
Travelers Companies Inc. on Wednesday reported a fall in quarterly profit, but announced an additional $5 billion share buyback plan that sent the shares of the property and casualty insurer up 5%. The company has $1.61 billion left over from …
LONDON —Lloyd’s of London insurers and brokers are preparing to provide cover for grain shipments from Ukraine and are likely to announce their plans shortly, the commercial insurance market’s chairman said on Wednesday. Russia and Ukraine signed a deal on …
NYSIR Hires Senior VP for Claims The New York Schools Insurance Reciprocal, which provides property and casualty insurance for New York state school districts, appointed Michael T. Murdoch as senior vice president of claims. Murdoch has 38 years of experience …
LONDON–Climate change played a part in insured losses from natural catastrophes that totalled $130 billion globally in 2021, the fourth-highest on record, broker Aon said in a report on Tuesday. Economic losses–the combination of insured and uninsured losses–reached $343 billion, …
The number of malpractice claims filed against hospitals and physicians dropped 14% last year, even as premiums rose 22% on average, according to a report by the American Society for Health Care Risk Management and Aon. An analysis of Aon’s …
US property insurers are exposed to $12.5 billion in non-physical cyber losses that are not expected and not priced by underwriters, according to a report released Tuesday. CyberCube, AM Best and Aon teamed up to calculate the “silent cyber” exposure …