January 22, 2025
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The industry vertical is bucking a trend in the cyber market overall, which remains soft. -
The executive’s departure comes amid a wave of cyber reshuffling in the industry.
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The MGA is looking to drive its commercial strategy across the globe.
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Patent and copyright infringement were the top AI-related legal claims.
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The biggest riser in this year’s Allianz Risk Barometer was AI.
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Markel said Paul Melone will oversee Botticelli's responsibilities in the interim.
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The industry needs to step up in educating clients and understanding their vulnerabilities.
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The state is drought-ridden, hail threatened and potentially making major changes this year as a result.
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Specialty was the busiest segment but still recorded a YoY drop of seven points.
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Lower rates, more favorable policies and improved public cyber infrastructure are all contributing to the trend.
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A memo to staff said the executive will be “pursuing new opportunities outside of our company”.
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London-based Tristram Prior will transfer to Bermuda to lead the line of business.
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Trump’s shadow loomed over the beachside sessions.
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Global insurance premiums reached an all-time high of $15.3bn by year end 2024.
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The CEO said that new funding will be used to expand its underwriting capabilities.
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The company has been growing rapidly since the summer, with at least 300 currently employed.
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The MGA said payments to affected customers began shortly after the event.
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The executive was previously the cyber practice lead for Ryan Financial.
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The city said it was self-insured at the time of the attack.
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Building electrical capacity quickly requires carriers to do due diligence on who’s behind the new power plants.
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The tech error, now resolved, halted traffic to sites like X and ChatGPT.
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The executive joined the company from Zurich last year.
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The executive most recently served as the company’s chief broking officer.
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CFO Vogt added that the vehicle’s impact from earned premiums should ramp up from 2026 through 2029.
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A canvassing of the cyber market suggests the impact will be negligible.
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The range allows “for information that could emerge beyond what is known today”.
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The appointments are aimed at offering a clearer team structure.
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Property insurance rates declined by 9%, the same as in the prior quarter.
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WTW’s Jessica Klipphahn will take over as head of North America mid-market.
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Property pricing fell by 8%, while casualty rate increases tapered to 3%.
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AWS suffered a large-scale service disruption originating in northern Virginia.
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Christopher Reynolds and AJ Jones have been hired as business development directors.
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Property, cyber and workers’ comp rates were all down mid-single digits, offsetting casualty hardening.
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An average of 81% of property accounts renewed flat or down.
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Growth concerns were top of mind at this year’s conference.
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Insurers continue to compete on price, especially in the SME sector.
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