Marsh News

Insurers Are Rethinking How They Cover Hacks With Cyberattacks on the Rise

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 …

Louisiana Coast Still Hurting From Storms, Bracing for More

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 …

Insurers, Drugmakers Sail into Unknown With Covid Vaccine Rollout

LONDON — Speedy global delivery of COVID-19 vaccines by air and sea in ultra cold conditions will lead to a jump in cargo insurance rates and spur demand for new areas of coverage, leaving underwriters on high alert. Pharmaceutical companies …

NCCI Says 2% of COVID-19 Work Comp Claims May Result in Permanent Disability

If COVID-19 behaves like other workers’ compensation lung and disease claims, about two out of 100 cases may result in some degree of permanent partial disability and one out of 2,000 may result in permanent total disability, according to a …

$215M in BP Oil Spill Money to Restore Louisiana Marshes

BATON ROUGE, La. — Louisiana will get nearly $215 million in BP oil spill money for two projects planned to restore more than 4,600 acres of marsh and other habitat in the New Orleans area, Gov. John Bel Edwards said. …

Directors’ Liability Insurance Rates Surge on Virus Litigation Fears

LONDON — Premiums for directors’ and officers’ liability insurance surged in the second quarter, broker Marsh said on Monday, as insurance underwriters fear the coronavirus pandemic will lead to hefty litigation claims. Premiums for directors’ liability insurance, known as D&O, …

Measuring the Moment: How Will George Floyd’s Death Matter to Insurance Industry?

The marches and protests across the globe sparked by the death of George Floyd by Minneapolis police are presenting the country with opportunities to confront the racism and inequality that African-Americans confront every day. As executive director of the National …

Business News: Liberty Mutual and Duck Creek, Marsh, Cognizant and One Inc.

Liberty Mutual Selects Duck Creek for Comp Claims Liberty Mutual has contracted with Duck Creek Technologies to merge two legacy systems into a single fully-integrated workers’ compensation management system. The Boston-based carrier said Duck Creek will lead a multi-year effort …

Business News: Davies Group, Marsh, Travelers and Hover, Purkeys

London-Based Davies Buys US Claims Shop Davies Group, an international consulting firm based in London, has acquired Frontier Adjusters, a multi-line independent claims adjusting shop headquartered in Independence, Ohio. The purchase marks Davies’ first claims deal in the United States. …

Working Through Allocation Issues When Multiple Storms Happen

A nuanced approach is necessary to work through claims involving multiple perils, according to Bob O’Brien, managing director of Marsh’s National Property Claims Practice and Paul McVey, managing director and Marsh’s National chief property claims officer. A recent blog post …