COMMERCIAL RISK Corporate Risk Management/ERM P&C Specialty Lines The risks of the religious…and opportunities in assisted living & not-for-profits – Church Mutual CEO Richard Poirier is CEO of Church Mutual Insurance, which focuses primarily on the risks of faith-based ministries, as well as public schools, assisted living facilities, non-profits and secular and religious camps. Mr. Poirier points out some risks to physical plants of social service facilities, including workplace violence, active shooters, cyber security, and the unpredictable weather. According to Mr. Poirier, flood … Read More
WRIN.tv Newswire Cyber risk; silent threat underestimated by engineering insurance – IMIA THE INTERNATIONAL ASSOCIATIONS OF ENGINEERING INSURERS PRESS RELEASE Cyber risk; silent threat underestimated by engineering insurance Doha, Qatar – 4 October 2016 – The Internet of Things (IoT) and cloud computing have a direct influence on the engineering insurance risk landscape but are being underestimated by underwriters according to The International Association of Engineering Insurers (IMIA). A specialist working group … Read More
Data/Tech/Modeling EMERGING TRENDS Specialty Lines Record breaches, D&O risk, new regs… All part of Billion-dollar cyber insurance market. According to Symantec, a record-setting nine mega-breaches were reported in 2015, each compromising more than 10 million records. But cybercrime affects more than just large companies. Microsoft says 20 percent of small to midsized businesses have been victims of cybercrime as well.. Fitch estimates the 2015 cyber insurance market to be close to $1 billion in direct written premium, and estimates the … Read More
Corporate Risk Management/ERM Data/Tech/Modeling EMERGING TRENDS FEATURED P&C Recent Stories IoT Expanding; Cyber threats growing – insurers rResponding In this edition of WRIN.tv’s Cyber Report, a Gartner study forecasts that 6.4 billion things will be inter-connected worldwide in 2016, with spending on support for the Internet of Things (IoT) to hit $235 billion. A cyber-security guru described the Internet of Things as “The Internet of Threats”, as the U.S. Federal Government says the global Internet of Things will … Read More
INDUSTRY NEWS Legislation/Regulation Recent Stories Tom Leonardi on cyber risk regulation, unintended regulatory consequences and goals going forward Tom Leonardi, a Senior Advisor at Evercore and former Connecticut Insurance Commissioner, speaks with WRIN.tv during the recent IIS Global Insurance Forum at the United Nations. He addresses regulator focus on cyber security, regulations that are harming industry growth, and what he feels regulators should focus on. Regulators focus on cyber risk in the wake of Anthem/Premera Blue Cross breach … Read More
Data/Tech/Modeling INDUSTRY NEWS Legislation/Regulation Recent Stories ND Insurance Commissioner says “we need to step up our game” to address cyber threat. In the wake of the high-profile breach of the U.S. Federal Government, WRIN.tv speaks with Adam Hamm about recent developments in cyber risk and cyber security. He is the North Dakota Insurance Commissioner and Chair of the NAIC Cyber Security Task Force, and a speaker at the 31st Annual S&P Insurance Conference in New York. Mr. Hamm reminds us that there is … Read More
Agents/Brokers/Consultants Corporate Risk Management/ERM Data/Tech/Modeling EMERGING TRENDS FEATURED Recent Stories Cyber security starts with breaking down silos and communicating with all risk stakeholders – Marsh WRIN.tv spoke with Marsh’s Cyber Product Leader, Bob Parisi, during the recent RIMS Conference in New Orleans, about the pervasive nature of cyber threat and what risk managers can do to manage the risk. While it is hard to quantify the cyber threat to American businesses, Mr. Parisi says, “any company that touches and handles confidential information, … Read More
Accident/Disability COMMERCIAL RISK FEATURED P&C Recent Stories Working in Risk & Insurance “Lax” healthcare industry faces critical cyber risk issues A report published by ACE looked at the “critical risks facing the healthcare industry.” At the 2015 RIMS Conference, we spoke with Caroline Clouser, EVP – ACE Medical Risk Group, about the report, and what it means to healthcare risk managers. Ms. Clouser mentions several major issues facing the healthcare industry have been in the news lately, including emergency … Read More
Corporate Risk Management/ERM EMERGING TRENDS Recent Stories Small and medium sized companies are “soft underbelly of cyber security” Hi-profile cyber-attacks against large companies, such as Anthem and Sony, garner much of the attention in the media. However, small and medium sized companies (SMEs) are exposed to cyber risk as well. Rick Betterley, the editor of the Betterley Report, discusses how exposed small and medium sized companies are to cyber threats. According to Mr. Betterley, small to medium sized companies … Read More
Data/Tech/Modeling Legislation/Regulation Cyber Threat Intelligence Integration Center for public-private cybersecurity President Obama’s chief counter terrorism adviser announced the launch of a new federal agency to coordinate public and private-sector cybersecurity efforts. The Cyber Threat Intelligence Integration Center will be modeled after other federal programs intended to fight terrorism, such as the National Counterterrorism Center. Read More
Data/Tech/Modeling EMERGING TRENDS INDUSTRY NEWS Recent Stories Advanced Persistent Threats (APTs) exploit employees to beat cybersecurity In another edition of ACORD’s TechTalk, host Johnell Johnson welcomes Eric Qualkenbush, a Director with BLACKOPS Partners, who retired from the Central Intelligence Agency (CIA). He focuses on cybersecurity and the “insider threat.” Mr. Qualkenbush says most cyber security companies focus on technical solutions, and do not pay enough attention to the human element. In fact, he says, most cyber-attacks … Read More
Companies Homeowner/Renter/Auto INDUSTRY NEWS Legislation/Regulation People Recent Stories Monday Morning Headlines: February 2, 2015 WRIN.tv’s Monday Morning Headlines, compiled by SNL Insurance, is a video digest of the news you need to know about the U.S. Insurance industry. Today’s Monday Morning Headlines: NAIC to give IT guidance re: Cybersecurity for insurers Fla Governor gets advice from lobbyist re: new insurance commissioner PartnerRe/AXIS Capital merger to create 5th largest P&C reinsurer ACE CEO Greenberg: consolidation … Read More