Weekly News Roundup – 15th October

Cyber is hitting the news again following two new reports. According to the latest research insurance premiums are going up (some by almost 300% at renewal) and coverage limits are being reduced. Allianz are warning about another pandemic we should all be worried about (not another, I hear you cry!) and that’s the one being caused by a surge in ransomware incidents. In other headlines, you can read more about a newly launched insurtech we’ve partnered with whose mission is to tackle the lack of coverage in the tool insurance market.

Cyber insurers raising premiums and reducing coverage limits (Source: Insurance Business Magazine)
A new cyber report reveals that insurers that were happy to issue $5 million cyber liabilities policies in 2020 have scaled back to limits of $1 million to $3 million in 2021.

Allianz: Companies need to strengthen cyber controls to counter ransomware pandemic (Source: Allianz)
The insurer analyses the latest risk developments around ransomware and outlines how companies can strengthen their defences with good cyber hygiene and IT security practices.

Broadening the conversation: Collaboration critical in building ESG agenda (Source: The Insurer)
More than 40 percent of risk professionals believe that climate change will have a material impact on their organisations within one to two years, with the ‘E’ component of ESG taking up most of the focus.

Rise of the Pandemic Fraudster (Source: Insurance Hound)
This content sheds light on the rise of the pandemic fraudster and what insurers can do now to win the fight against fraud.

OneAdvent & ARMD Team Up (Source: Insurance Business Magazine)
Alongside partner OneAdvent, London based insurtech, ARMD, has developed an embedded insurance proposition to reinvent the way tradespeople protect their livelihoods.

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