Manufacturers are Now Hackers' Favorite Targets
Manufacturing was the industry most targeted by hackers during 2021, accounting for 23.2% of incidents, according to IBM Security X-Force research. The sector edged out insurance and financial services by a slim margin.
Cyber Market Primed to Grow and Eclipse Property by 2040: Gallagher Re
Following a pause to stabilize the vessel, the cyber market is poised for a wave of growth that could make it larger than the property catastrophe market by 2040, said Gallagher Re.
Agency's Specialty Portfolio Often Fragmented by Working with Multiple Carriers
The Hanover Insurance Group recently released its State of Specialty Insurance Report, which highlights the risks of fragmentation in the marketplace.
Auto Insurance Shopping Sees Quarter-On-Quarter Decline
The final quarter of 2021 saw the rate of personal auto insurance shopping drop to minus 5.9% compared with minus 3.9% during Q3 2021, according to LexisNexis Risk Solutions Insurance Demand Meter.
Pet Benefits May be a Key to Retaining Talent
According to Nationwide, 70% of surveyed employees stated their employer does not currently offer pet-related benefits, and 30% said having pet benefits would convince them to stay with their current company or leave for a company that does offer them.
Only 3% of Employees Want to Return Full-Time to Their Offices
Just 3% of white collar workers want to return to the office five days a week, according to a poll by management consultancy Advanced Workplace Associates, which warned employees will quit if bosses force them back full-time.
Ford, State Farm Partner for Car Insurance Program
Ford has entered the insurance market through a collaboration with State Farm called 'Drive Safe & Save Connected Car' is the name of the insurance program.
Insurance Agency Networks in the U.S. Control $66B in Premium
Insurance Networks Alliance (INA) released its first-of-its-kind study examining the size and dynamics of the insurance networks business segment which revealed that Insurance agency networks in the U.S. control $66 billion in premium.
AIG to Move High Net Worth Homeowners to E&S
Peter Zaffino, CEO of American International Group (AIG), said the company's ongoing analysis of the increased frequency and severity of natural catastrophes has led to a decision to move the high-net worth homeowners business to excess and surplus lines in multiple states.
More Than a Conversation: Building Diversity Means Taking Action
The cybersecurity and insurance industries have been talking about prioritizing diversity, equity and inclusion for a while, but Larry Whiteside, co-founder and president of Cyversity, says conversations aren't enough.