Category: Insurance

Why 2024 will be the year of increasing security efficiency

January 15, 2024January 15, 2024 iFreshBriefs No Comments

Cybersecurity leaders continued to face an ever-expanding and evolving threat landscape, the continued proliferation of artificial intelligence tools, and the advancing migration to hybrid and multi-cloud infrastructure, all while experiencing the highest data breach rates to date. Another challenge for these leaders was that they were asked to manage this increasing complexity with flat to…

Insurance, Tech

Insurance Market 2024 Challenges.

January 14, 2024January 14, 2024 iFreshBriefs No Comments

Coming to 2024, the insurance industry looks set to evolve again. Insurers can expect to have a lot on their plate in the coming months, from inflation concerns to the talent supply crisis to the growing importance of cyber. A recent Deloitte report shed light on several concerns – including a 20.4% increase in commercial…

Insurance, Tech

Allstate to stop selling non-English insurance in Colorado

December 18, 2023December 18, 2023 iFreshBriefs 1 Comment

Insurance company issues memo to agents in response to new language translation requirements. Allstate asked its agents in Colorado to conduct business exclusively in English after lawmakers passed a law imposing language translation requirements on insurance companies. Colorado’s House Bill 23-1004 is set to go into effect in the new year and requires insurance companies…

Insurance

In 2024, more reinsurers will enter the cyber market – CyberCube

December 18, 2023December 18, 2023 iFreshBriefs 1 Comment

The frequency of cyber attacks is expected to increase due to artificial intelligence Risk analytics company CyberCube expects a significant shift in the reinsurance approach to cyber insurance in 2024, as more reinsurers enter the market. CyberCube CEO Pascal Millaire shared insights that suggest traditional insurers, previously reticent to enter the cyber insurance market, are…

Insurance

What is the Future of Big Law Firms?

December 15, 2023December 15, 2023 iFreshBriefs 2 Comments

For years, analysts predicted the imminent death of the “Big Law”, the power plant law offices staffed by hundreds of lawyers who sit at the top of the legal food chain. But Big Law has turned into Big Business, with record growth and record profits, and big law firms are likely to continue to grow….

Finance, Insurance

Zurich Insurance Group selects successor Claudia Cordioli to CFO

December 15, 2023December 15, 2023 iFreshBriefs 2 Comments

Executive Committee recruitment from Swiss Re. Zurich Insurance Group has appointed its next group finance director. Claudia Cordioli will replace George Quinn as Group CFO in March 2024, subject to regulatory approval. Prior to his departure, Quinn will oversee the completion of Zurich’s annual results for the year while ensuring a smooth handover. Cordioli, whose…

Insurance

Fraud, delivery issues affect customer confidence in online shopping – Chubb

December 15, 2023December 15, 2023 iFreshBriefs 4 Comments

Most consumers say that insurance would increase their confidence. Consumers intend to increase their spending on e-commerce platforms during the holiday season, according to a new report by Chubb. However, financial fraud and delivery issues have affected consumer confidence in online shopping sites. According to the report, which surveyed 500 consumers worldwide, 55% of respondents…

Insurance

Lloyd’s secures financial strength rating upgrade from S&P for next F.Y.

December 14, 2023December 15, 2023 iFreshBriefs 4 Comments

The rating agency expects continued underwriting performance. S&P Global Ratings has raised Lloyd’s Insurance Market Financial Strength from ‘A+’ to ‘AA-‘ with a stable outlook. In a release, the rating agency said: “We believe Society of Lloyd’s will sustainably maintain its strong performance in line with ‘AA-‘ rated peers. “This is underpinned by corrective underwriting…

Finance, Insurance

Allianz’s new business report identifies areas of interest for brokers and risk managers

December 14, 2023December 14, 2023 iFreshBriefs 3 Comments

In a detailed report by Allianz, The commercial highlighted that directors and officers (D&O) of companies face increasing liability risks in 2024 from a number of factors, including economic pressures, geopolitical issues, the adoption of technologies such as GenAI (generative artificial intelligence) and challenges related to Environmental, Social, and Governance (ESG) factors. The report points…

Insurance