IUA establishes commercial crime underwriting group

The International Underwriting Association has established a new group for companies writing commercial crime business.

Among the items on the agenda are cyber risks, the implications of capital withdrawal from the sector and the promotion of education and training resources for specialist practitioners. The new group will also consider how policy clauses tackle issues such as impersonation fraud and the merits of drafting a best practice proposal form.

“In recent years the landscape between crime, cyber and other lines of business have become increasingly blurred by emerging risks such as social engineering fraud,” said director of market and legal services at the association, Chris Jones.

“The commercial crime market is facing some fundamental challenges surrounding capacity and the provision of coverage for an increasing number of different risks. It is, therefore, an ideal time for a new London Market group that can discuss these issues and help companies respond.”

Around a dozen London Market companies were represented at the group’s first meeting this week.

    Share Story:

Recent Stories


Are property insurers ready for timber
The Structural Timber Association is gearing up to help all stakeholders in the construction supply chain to fully appreciate the advantages of building in timber, how to deliver such projects and most importantly to understand and manage the risks.

The changing face of BC and WAR
The working environment has changed quite dramatically for many over the last six months. With social distancing and the rise of homeworking, it is not just how businesses operate that has changed, but also how they recover. In this podcast we discuss some of the challenges created by the quick shift to home working, why the office may not have seen its last days and how the current environment can impact the ability of a business to recover.