Singapore Amends Cybersecurity Law to Bolster National Security MeasuresOn 7 May 2024, the Singaporean parliament passed the Cybersecurity Bill expanding the cybersecurity authority’s supervision. The new law allows oversight over any computer system considered critical to national interests and at high risk of cyberattacks. The new law includes temporary systems set up for important operations […]
Embroker Announces New Consultants Insurance Program
Embroker Announces New Consultants Insurance ProgramEmbroker is thrilled to announce the launch of our newest vertical insurance program, designed specifically to meet the unique needs and risks faced by consultants. This comprehensive coverage program is now available on our ONE platform, offering a streamlined and transparent insurance buying experience for consulting professionals. Consultants play a […]
Professional Liability Insurance for Consultants
Professional Liability Insurance for ConsultantsConsultants do a lot of different work for a lot of different industries. However, most consultants do share one thing: They’re their own boss. That’s why, as you’ll see, professional liability insurance for consultants is essential to keeping themselves, and their clients, protected. At the end of the work day, consultants […]
Hard Market Challenges Spur Opportunities for Independent Agents: Study
Hard Market Challenges Spur Opportunities for Independent Agents: StudyThe insurance industry is facing its toughest market conditions in a generation, with rising rates and stricter underwriting creating headaches for agents in the form of difficult renewal conversations and challenges placing new business. The 2024 Agent-Customer Connection Study, conducted by Liberty Mutual and Safeco Insurance, examined […]
Triple-I/Milliman: Personal Lines Dragon Underwriting Profitability Continues
Triple-I/Milliman: Personal Lines Dragon Underwriting Profitability ContinuesBy Max Dorfman, Research Writer, Triple-I The property and casualty insurance industry posted its second consecutive year of underwriting losses, driven primarily by personal lines, according to the latest industry underwriting projections by actuaries at Triple-I and Milliman. The net combined ratio for 2023 was 101.6, according to Insurance Economics […]
IRC: Homeowners Insurance Affordability Worsens Nationally, Varies Widely by State
IRC: Homeowners Insurance Affordability Worsens Nationally, Varies Widely by State By Max Dorfman, Research Writer, Triple-I Average U.S. homeowners insurance premiums have increased at a rate that has outpaced household income from 2001 to 2021, according to a new report by the Insurance Research Council (IRC). In 2021 – the latest year for which data […]
Legal System Abuse/Social Inflation Adds Costs and Challenges for US Casualty Insurance: AM Best
Legal System Abuse/Social Inflation Adds Costs and Challenges for US Casualty Insurance: AM BestThe impacts of legal system abuse-driven social inflation has become a significant challenge for the U.S. casualty insurance industry, particularly driving up loss costs in lines such as products liability, general liability, commercial auto, and medical professional liability, according to AM Best. […]