Ransomware, extortion, and social engineering are on the rise—be sureyour clients are protected When advising a client, nothing is more daunting for an insurance professional than trying to explain an insurance concept that is not widely understood. This challenge confronts agents and brokers who need to persuade risk managers and business owners of all sizes to recognize the importance of maintaining effective cyber liability insurance. A good policy will pay
Commercial Lines
Mind the Gap Be alert for coverage pitfalls and be sure your clients are appropriately protected Although data breaches are becoming increasingly commonplace, many small business owners still believe that cyber criminals would prefer to go after large companies such as Target, Home Depot, and Equifax. Knowing how criminals conduct their business is just as important as understanding the insurance needed to remedy data breach situations. They couldn’t be more
Understanding transportation risks in an automated environment The rising popularity and growth of shared mobility programs has forced insurers to adapt and create new coverage solutions and risk evaluation methods to serve the evolving needs of both individual and business customers. Now, a market still grappling with these fundamental changes in risk exposures and consumer behavior is facing yet another disruptive force—the development and introduction of increasingly sophisticated autonomous vehicle
ISO Emerging Issues Perspective Can automated processes facilitate quick and effective resolutions? Today’s cars are smarter, and that means auto insurers need to be smarter, too. Modern vehicles collect vast amounts of valuable data, and original equipment manufacturers (OEMs) are preparing to share it with the vehicle owner’s consent—if insurers are ready to receive it and realize its potential for more accurate underwriting, more efficient operations, and a better customer
Risk Management A general liability policy alone probably won’t clean up the mess In a town just outside Grand Rapids, Michigan, an environmental disaster—one that goes back to the 1960s—is unfolding. Wolverine Worldwide, well known for brands like Hush Puppies and Stride Rite, has been accused of turning a blind eye to an old toxic dump that has polluted the groundwater, resulting in sick people and diminishing property values. The
