Most major organisations hold more information assets than property, plant and equipment assets, yet these information assets are woefully underinsured. Aon reports that because of the “dynamic and fluid nature of intangible assets” it is impossible to “build actuarial loss models based on decades of data”, which makes insurers nervous. Find out how this can be addressed in Paul Carroll’s new article. Space storms could soon be more costly for insurers than hurricane events given their ability to interfere with GPS signals, cause power failures and increase radiation. Lastly, AM Best has warned for the need for closer supervision of MGAs from their capital providers.
If data is the new oil, why do we insure so little of it? (Source: Insurance Thought Leadership)
Paul Carroll discusses Aon’s latest report, which reveals that businesses “only insure about 19% of their information assets, vs. 60% of physical assets”.
How insurers are overcoming underwriting challenges in 2024 (Source: Instech)
A podcast featuring Zurich North America, Tokio Marine HCC and Allianz Commercial explores how technology is addressing underwriting challenges, whether too much data is a problem and the ‘art v science’ of underwriting.
Space storm risks add to black swan exposures (Source: CIR Magazine)
According to a new report from Bloomberg, “a major space storm could cost insurers even more than a hurricane like Katrina”.
Rapid premium growth among US MGAs ‘warrants greater oversight’ – AM Best (Source: Global Reinsurance Magazine)
The rating agency suggests that US managing general agents (MGAs) need closer supervision from their capital providers, as their premium increased by 14.9% last year to reach $81.4bn.
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