According to IBM’s Cost of a Data Breach report, 2023 set an all-time high record with the global average data breach cost reaching $4.45 million, a 2.3% increase from 2022 and a 15.3% from 2020. The 2023 research, conducted independently …
The age-old question in insuring rentals and multi-unit housing is, “Who covers what?” Whether it’s owner-occupied housing or a landlord-tenant relationship, the changing landscape — from higher costs to the rise of short-term rentals — has demanded the market change …
Those in the insurance industry tend to view everything through a lens of risk and responsibility. Sure, that game/sport/amusement/party looks like a good time, but what horrible thing could happen? And who is going to pay for it when it …
Despite movement in limit and deductible levels, public directors & officers (D&O) pricing continues to drop for the fifth consecutive quarter. The pricing index from Aon Commercial Risk Solutions’ Financial Services Group decreased to 1.15 in the second quarter from …
How does the 2023 insurance market look so far? It depends on where you stand. Property is facing its most challenging market in 20 years. But D&O rates are down after spiking in 2020. Cyber is evolving to limit exposure. …
A new report from an insurer with a high concentration of general contractors in its commercial lines business recognizes the high-risk nature of the construction industry and offers insights that contractors and their risk advisors can use to help mitigate …
Technology has made it easier for consumers to explore and purchase insurance on their own. While some fear this ease of access could put agents out of work, Jim Dwane, CEO of insurtech bolt, a property/casualty insurance exchange, said putting …
A shortage of workers in the restaurant industry is leading to more expensive and complex claims in workers’ compensation even as claim frequency declines, according to a recent report and webinar. Marsh recently released its Restaurant Industry Practice 2022 Report …
Drivers are kicking the tires and trading up for new auto insurance policies. In the first quarter, new policy growth rate was up 17% over the same period in 2022, and a record-breaking shopping growth rate was up 10.2% compared …
Cybercrime is up, properties are underinsured, and the management liability market is softening. These are a few of the predictions and results revealed in the Risk Strategies 2023 State of the Market report, which examines the trends of 2022 and …
