FERMA calls on ENISA to integrate client dimension in cyber insurance language harmonisation
FERMA has welcomed the publication of a report from the European Union Agency for Network and Information Security (ENISA) on the commonality of risk assessment language in cyber insurance, but says that for a full picture the perspective of the insured must also be considered.
Insurers pull US$20bn coal investment
A number of major insurance companies have pulled $20 billion from investments in coal and a growing number are refusing to underwrite new coal projects, with Zurich announcing it will divest from and cease offering insurance to companies which depend on coal for more than 50% of their business.
IUA publishes guide for delegated authorities
A guide to good practice for delegated authority arrangements in the London company market has been published by the International Underwriting Association. The document urges firms to keep customer impacts uppermost in mind when outsourcing particular functions. It highlights the need for detailed risk assessments when selecting new coverholders and stresses the importance for comprehensive ongoing oversight of any partners.
JLT launches specialist cyber cover for asset managers
JLT has launched a new product that addresses the specific cyber risks faced by asset managers. Enterprise Cyber will safeguard management fee income in the event of a notified cyber incident triggering unplanned redemptions along with traditional cyber policy cover. In addition, Enterprise Cyber will cover a broad range of incident response costs including system restoration, privacy breach, digital media issues arising from third parties and cyber extortion.
Consumer sentiment around data privacy revealed in latest GDPR poll
Half of UK consumers don’t believe commercial organisations care about their privacy, and many are prepared to take legal action against businesses that don’t comply with the EU General Data Protection Regulation (GDPR). At the same time, businesses are concerned the new data privacy regulations will have a negative impact on their operations and international relations.
Failure to adopt technologies leading to productivity and pay disparities
Low take up of readily available technologies and management practices is fuelling the deep-seated productivity problems the UK has faced in recent decades, leading to what the Confederation of British Industry is calling a "striking productivity differences between businesses leads to variations in wages, opportunities and living standards for people across the UK".
Commercial Insurance Awards: Deadline for entries extended
The deadline for entries for the Commercial Insurance Awards has been extended to the 24th November 2017. Now in their fifth year, the Commercial Insurance Awards are the showcase for excellence within commercial insurance. The awards are unique in rewarding the particular issues around the insurance of commercial enterprises, and were created to allow the commercial insurance sector to shine.
Staff health and security under spotlight in travel risk report
Following a year of heightened security risk, International SOS has published a new Ipsos MORI survey of global business leaders that charts and maps heightened travel concerns. It says two in three business leaders believe travelling has become more dangerous in the last year; and found that travel plans were changed predominantly due to concerns over security threats, followed by natural disasters.