Intel

While demand for Cyber Insurance continues to grow, the current soft market is expected to continue into at least 2025. With new entrants on the carrier side and consistent but manageable demand from the market, downward pressure on rates remains. This market softness has evolved over the last two years after an initial increase in cyber events during COVID-19 and…

AI is expediting the evolution of social engineering, making cybercriminals more challenging to detect. Michael Drummond explains other ways AI is accelerating Cyber risks. https://vimeo.com/1001680204/611e34d2fc?share=copy

Cyber Insurance claims handling is constantly evolving – but as Kenneth Labelle, Senior Broker, Professional Liability, Burns & Wilcox Brokerage, Chicago, IL, explains, the \"human element\" makes a big difference. https://vimeo.com/1002081522/f96b609c7f?share=copy

Pre- and post-mitigation risk management is a key differentiator for Cyber Insurance markets. Learn more and get additional insights into enhanced coverage offerings from Derek Kilmer, Associate Managing Director, Broker, Professional Liability, Burns & Wilcox, Detroit/Farmington Hills, MI. https://vimeo.com/1002078816/bd7c725091?share=copy

From cyber crashes, like the recent Microsoft CrowdStrike outage to cyberattacks, Cyber Insurance has never been more critical – yet so many businesses forgo or have inadequate Cyber coverage. During this webinar our panel of experts dove into all things Cyber Insurance. Featured Experts: Kenneth Labelle, Senior Broker, Professional Liability, Burns & Wilcox Brokerage, Chicago, Illinois Derek Kilmer, Associate Managing…

Across industries, companies face the risk of professional errors leading to serious losses and costly lawsuits. To learn more about the types of Professional Liability Insurance available to address these risks, we spoke with Andy Wood, Vice President, Professional Liability, Burns & Wilcox, Chicago, Illinois. What are some of the greatest risks today when it comes to Professional Liability? A.W.:…

The global Microsoft outage that grounded flights, canceled nonessential surgeries and halted operations for countless businesses could exceed $1 billion in insured losses, according to reports. The technology outage, which began July 19 after a faulty software update by CrowdStrike shut down 8.5 million Windows computers around the world, left many large and small companies unable to function — and…

The term “equilibrium” is increasingly being used within insurance circles to describe certain sectors moving toward a state of balance in terms of rates versus supply, terms and conditions. It suggests a growing opinion among industry leaders that Property and Casualty (P&C) is largely in a healthy place. This is true even after a decade-long period characterized by costly CAT…

More than five years after the death of Grumpy Cat, the internet-famous cat known for its disgruntled-looking expression, the company that owns its image and likeness continues to confront alleged trademark violations from other entities using the pet’s face for profit. According to a recent report from Courthouse News Service, Grumpy Cat Limited has filed more than 50 trademark lawsuits…

The former chief financial officer of the Detroit Riverfront Conservancy is being accused of embezzling $40 million from the nonprofit organization over a period of more than 11 years. William Smith was recently charged with bank and wire fraud after allegedly stealing millions of dollars and spending it on airline tickets, hotels, luxury goods, real estate and more. He has…

A woman who was assaulted in her apartment after a stranger broke in through the unit\'s back sliding door is suing the housing complex for over $1 million, claiming the attack could have been prevented if the broken back door lock had been fixed when she and her roommate first reported it. The Austin, Texas, woman filed the lawsuit against…

Following several years of double-digit rate increases and restrictive adjustments to Terms and Conditions (T&C), the Property Insurance sector has reached a point of relative stability. Rates are largely modest as insurers secure the required premium, now applying rates against a proper exposure basis—Insurance to Value (ITV). With few exceptions of traditional CAT-prone perils in specific geographies, most carriers are…