by AIP Online Bureau | Mar 2, 2022 | International News, Non-Life, Reinsurance, Technology
Larger insurers have taken significant pricing and underwriting actions in response to rising cyber claims in recent years, including tightened contract language, which should help mitigate underwriting losses in the current uncertain environment, Fitch Ratings says...
by AIP Online Bureau | Mar 2, 2022 | Eco/Invest/Demography, International News, Non-Life, Reinsurance, Technology
One reason for that could be a loophole in cybersecurity insurance policies. Experts and industry-watchers say the more sophisticated digital extortion gangs tend to focus on insured organisations because the victims already have a policy to make the payoff, making...
by AIP Online Bureau | Mar 1, 2022 | Eco/Invest/Demography, International News, Wealth Management/ Philanthropy
Russia’s $1.5 trillion economy is already reeling from sanctions that targeted key banks and may prevent Putin from accessing the bulk of more than $640 billion in central bank reserves. Those restrictions have roiled the nation’s markets and are having a knock-on...
by AIP Online Bureau | Feb 27, 2022 | Eco/Invest/Demography, Indian News, Policy, Risk Management
Amid the ongoing conflict between Russia and Ukraine, ECGC in a communication said ”based on the near-term commercial outlook, it has been decided to modify the country risk classification of Russia under the short-term and medium-and-long term with effect from...
by AIP Online Bureau | Feb 26, 2022 | International News, Non-Life, Reinsurance, Risk Management
“Further sanctions may impact the ability of international insurers and reinsurers to underwrite Russian risks or make it more difficult for them to service claims on existing policies,” said Anna Sheremeteva, financial analyst, AM Best LONDON: International rating...
