Cyber Criminals Target Independent Agents
Heed the advice of cyber security experts, as hackers aim to infiltrate independent agencies for access to customer data.
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Are You Eligible for Higher Commissions on NFIP Business?
If you write flood through the NFIP with a Write-Your-Own (WYO) program, compare commissions with those offered through The Hartford Flood program for IA&B of Maryland members.
COVID-19 Disrupts Professional Liability Market
The events of 2020 “have put considerable added pressure on professional liability insurers,” according to AM Best. The agency just released Best’s Special Report, “Professional Liability Insurers Navigate Uncertain Terrain Amid a Pandemic,” which included a survey of underwriters.Per AM Best’s announcement, results from the survey include: Two-thirds of respondents placed the severity of COVID-19 …
Travelers Cyber Survey Finds Businesses Vulnerable
The 2020 Travelers Risk Index found that 22% of business leaders surveyed reported that their company had been the “victim of a cyber event.” This marks the highest percentage since Travelers’ 2014 inaugural survey. And while those surveyed reported increased cyber concerns, fewer of them took risk mitigation steps than last year. Read more about …
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Ransomware Incident Offers Cautionary Tale
Late last month hackers attacked insurance broker Arthur J. Gallagher & Co. (to include claims unit Gallagher Basset). The ransomware incident forced the firm to take its global systems offline and turn to outside cybersecurity professionals for help. Ransomware attacks increased almost 50% between the first and second quarters of 2020, according to a recent …