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Public and private D&O buyers are facing increased competition fueled by a reduced number of US securities class actions, a slowdown in M&A activity and an influx of new entrants into the market. However, the risk landscape is ripe for more frequent and severe D&O claims in 2023, according to a report published by Allianz Global Corporate & Specialty (AGCS).
Safe Security Inc., global leader in cyber risk quantification and management (CRQM), today launched SafeInside Insurance, the first cybersecurity Managing General Agent (MGA) leveraging API-based cyber risk telemetry and quantified insights to underwrite cyber insurance.
Wikifri provided a team of reinsurance subject-matter-experts to manage the program and provide business analyst support and data conversion expertise.
Arthur J. Gallagher & Co. today announced the acquisition of Brisbane, Queensland-based Aviation Insurance Australia. Terms of the transaction were not disclosed.
According to a recent report by insurance brokerage firm Gallagher, the directors and officers (D&O) insurance market continued to stabilize in the last quarter.
Walnut Insurance, a technology company that provides infrastructure for embedded insurance, announced their $4M seed round, with ATB Financial and NAventures, National Bank of Canada’s corporate venture capital arm, as the lead investors. Other investors include Harvest Venture Partners, Highline Beta, and N49P.
Which are the main factors driving the possibility that a company and its board of directors may be sued by investors or other stakeholder groups in 2023? A poor financial performance or even insolvency amid economic uncertainty and the prospect of a global recession, a lack of robust cyber security and governance processes, or an inadequate or non-compliant response to environmental, social and governance (ESG) issues are among the key risk trends in the Directors and Officers (D&O) insurance space, according to Allianz Global Corporate & Specialty (AGCS). Despite a downward trend in new filings, US class action securities litigation remains a key concern, particularly around mergers, while cryptocurrency companies and exchanges are subject to increasing activity, the insurer’s annual D&O report also notes.
Vertical insure , the embedded insurance platform for vertical SaaS platforms, today announced its $4 million seed round co-led by rally ventures and dundee vc . Vertical Insure provides vertical SaaS platforms with embedded, white label insurance products that can be deployed to their current customer base.
Collecting and sharing data via the Internet of Things has become so common that some aspects, such as GPS navigation, are taken completely for granted. With a wealth of data at their disposal, insurers are exploring the multiple ways they can take advantage of IoT to advance their business.
In response to the European Commission’s proposal for an Insurance Recovery and Resolution Directive (IRRD), Insurance Europe has published a response saying that there is no real need to develop such a framework.
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