ISO Emerging Issues Perspective It’s more than just immediate damages Crises can test relationships, not unlike the way a hurricane stress-tests a ship at sea. If a vessel isn’t seaworthy, the leaks soon become obvious. So, too, the cordial business relationship between insurance agent and policyholder can face a serious test following a loss, particularly a catastrophic one. Selection of necessary coverage elements often is guided by knowledge but limited
Opportunities and recommendations for next year’s specialty lines market On October 21, 2016, the attacks began. An online offensive against domain name server (DNS) provider Dyn, Inc. caused outages to some of the Internet’s top sites, including Amazon, Netflix, Twitter, and Spotify. Apparently capitalizing on vulnerable devices, such as Internet-capable refrigerators, smart thermostats, and other devices that lack the standard firewalls, the attackers brought down scores of high-profile websites. The
Risks and capacity are abundant, but demand still lags For any independent agency that has been reluctant to embrace and promote cyber insurance, it seems that there’s no longer any choice. Cyber insurance, which entails first- and third-party coverages for disruption of computer systems and loss to data, is perhaps the fastest growing line of commercial insurance, and a product that reaches into every sector of the economy. U.S. insurers
Adverse conditions need not deliver a negative financial impact, thanks to protections offered by weather insurance For much of the United States, the winter of 2015-2016 was relatively easy to handle, especially when compared to the previous year. For example, the end of February this year saw just 15% of the total land area of the 48 contiguous states covered by snow. Exactly a year earlier, the percentage topped 60.
Major changes create opportunities for agents Home-grown terrorism, security breaches into organizations such as Yahoo!, LinkedIn, and even the Democratic National Committee … the security industry has become a rapidly changing marketplace. With digital and physical security being inextricably linked, as businesses grapple with myriad security threats, they are running to keep pace with the changes. According to the 2015 Gartner report on cyber security, new business designs are being