Insurance Business Australia’s Post

#IBTV: Exploring the Canadian Insurance Market: Brad Randell, Head of Insurance at AXIS (AXIS Capital) Canada, discusses the current landscape, challenges, and opportunities in financial lines, liability, cyber, and more. Tune in to IBTV for insights into what's on the horizon in the next six to twelve months. Catch the full insights here: https://hubs.la/Q02vslQs0

Organisations impacted by the CrowdStrike outage should think about how their insurance might mitigate any losses suffered. Read the guide we have prepared in collaboration with Airmic (Association for Insurance & Risk) on priority steps that should be taken by policyholders. #hsfdisputes #insurancedisputes

Why do only 65% of UK Broker intermediaries sell #cyberinsurance as a product to their clients? In this article by Insurance Age, Siân Barton features insights from our #research survey Broking Now! to investigate this phenomenon. <https://lnkd.in/eU2CAZxf>

What a great talk by Amanda Draeger and absolutely worth 12 minutes of anyone in cyber/risk's time (imo)! A few things that I found very insightful (but you should really watch it yourself): 1️⃣ "Firmographics" (e.g. attributes of your company like revenue) are the greatest indicator of whether you will be compromised. 2️⃣ Cyber is a social science (and some thoughts on more insightful questions insurance companies, board members, etc. could ask to understand how a company approaches this) 3️⃣ Data is like nuclear waste. If you can't protect it, don't collect it. And the "security debt" of protecting data never goes away.

In the dynamic landscape of business, uncertainties are inevitable. That's where business insurance comes in. From property damage and business interruption to liability and cyber losses, claims, having the right coverage in place is crucial. Understanding your policy's nuances and taking proactive steps to tailor it to your business needs is key. With an individualized coverage approach, you can navigate the challenges of entrepreneurship with confidence, protecting your business every step of the way. #OntarioWestInsuranceBrokers #BillBlaneyInsuranceBrokers #Insurance #InsuranceBrokers #BusinessInsurance #InsuranceCoverage #CommercialInsurance

This type of insurance helps the salon recover from the financial and reputational damage that can result from a cybersecurity incident. Read more 👉 https://lttr.ai/AO8CL #Insurance #WorkerSCompensationInsurance #insurance

Take a look back at the Financial and Executive risks from 2023 and what to expect as we move into 2024 with our FINEX year in review series! #insurance #directorsandofficers #epl #fiduciary #financialrisk

Global IT outages will happen again: How will the insurance industry respond? As fresh digital interruptions occur, insurance carriers may restrict or withhold some cyber coverages altogether.

#icymi - "Captive Formation Surging" article by Business Insurance. It certainly is clear that businesses of various sizes are increasingly utilizing captives to address their insurance costs and coverage gaps. Additionally, captive owners are diversifying by incorporating various lines of coverage such as Cyber Liability, Medical Stop Loss, and Excess Lability insurance into their captives. By embracing innovative solutions like captives and considering diverse coverage options, businesses can enhance their risk management strategies and achieve greater financial resilience. #captives #captiveinsurance #riskmanagement #cyberrisks #claimsmanagement

"Some cyber insurance policies exclude -malicious events, and there are waiting periods and deductibles that businesses will have to consider before making a claim with their insurance carriers," said Nir Perry, CEO at CyberWrite, a cyber insurance risk platform. Do not cut corners when it comes to your insurance program. Contact me to learn how USI is helping businesses reduce their total cost of risk: [email protected] #cyber #insurance #businessinterruption #usioneadvantage