A new report asserts the impact of business email compromise incidents on U.S. companies is likely underestimated and misunderstood—and it shows that multifactor authentication and cybersecurity awareness programs may be the top two risk management controls to prevent BEC attacks. …
Multiple companies in the U.S. and Canada experienced a record number of cyber extortion events in 2023 and unprecedented demands, a new report from Marsh shows. The report, Ransomware: A persistent challenge in cyber insurance claims, also showed an increasing …
Despite a drop in the total number of global mergers and acquisitions, demand for transactional risk insurance “remained resilient” in 2023, Marsh announced in its annual transactional risk report. Data from the Institute for Mergers, Acquisitions & Alliances showed 39,603 …
More than 60 elections will be held worldwide in 2024, and the outcomes will likely affect international relationships, drive policy uncertainty and disrupt markets, Marsh Specialty leaders said in a new political risk report. “The outcomes of the elections taking …
Broker Marsh said the composite rate change at renewal for U.S. commercial lines was up 3% in the fourth quarter 2023, led by an 11% increase in property rates. The Marsh Global Insurance Market Index said it was the 25th …
Ukraine’s government is in talks with insurers to start a new program to cover ships hauling grain through some of the riskiest parts of the Black Sea. The service could start as soon as early September, though a precise framework …
PORT FOURCHON, Louisiana — On Louisiana’s south coast, in a key port servicing the U.S. offshore oil industry, a huge shipyard sits idle and in tatters. Where parts of the nine-bay terminal’s roof once hung, only a tangle of twisted …
The COVID-19 pandemic is causing a sharp increase in the price of materials and labor and driving increases in property claim costs, experts said during a webinar hosted by ATI Restoration on Tuesday. “We’ve never seen lumber move this drastically …
The hacks came one right after another, sowing chaos at hospitals, idling America’s biggest gasoline pipeline, crippling a huge meat supplier and devastating hundreds of companies over the July 4 weekend. Now, insurers are reassessing the cyber business. With cyberattacks …
CAMERON, La. (AP) — Scores of people in coastal Louisiana are still living in campers on dirt mounds or next to cement slabs where their houses once stood. Unresolved insurance claims and a shortage of supply and labor are stymieing …