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News Alert: QBE North America launches new cyber insurance program with Converge

The Last Watchdog

New York, NY, July 27, 2023 – QBE North America today announced the launch of a cyber insurance program with new MGA, Converge, acting as program administrator. Tom Kang, CEO, Converge, added, “We’re thrilled to partner with QBE North America given their experience and reputation in the cyber insurance market.

Insurance 188
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Mitigating the impact of climate change in insurance and other financial services  

IBM Big Data Hub

The US experienced 25 extreme weather events in 2023, each causing losses of over USD 1 billion, with a total cost of USD 73.8 According to Berenberg analysts , individual insurance companies faced total claims estimates of up to approximately USD 300 million. As a result, their market would shrink.

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State of the EMEA Information Capture & IDP Market 2022/2023

Info Source

The market growth, however, was driven primarily by digital business inputs, in particular email inputs with attachments and secondarily mobile devices. For the Capture & IDP Software market in the EMEA region, Infosource predicts an accelerated growth of end customer investments in the next 5 years.

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News alert: Beazley reports on how AI, new tech distract businesses as cyber risk intensifies

The Last Watchdog

London, July 13, 2023 — Beazley, the leading specialist insurer, today published its latest Risk & Resilience report: Spotlight on: Cyber & Technology Risks 2023. is the parent company of specialist insurance businesses with operations in Europe, United States, Canada, Latin America and Asia. About Beazley.

Risk 189
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In the fragmented insurance landscape, let’s unify customer experience

Thales Cloud Protection & Licensing

In the fragmented insurance landscape, let’s unify customer experience divya Mon, 03/06/2023 - 06:13 You may think of an insurance company as a singularly-focused entity, offering protection for one product. However, the insurance business reaches across a disparate range of consumer products.

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The Week in Cyber Security and Data Privacy: 16–22 October 2023

IT Governance

Publicly disclosed data breaches and cyber attacks City of Philadelphia discloses data breach after five months Date of breach: 24 May 2023 ( notice issued 20 October 2023). Breached organisation: BHI Energy, providing staffing solutions to the nuclear, fossil, wind, hydro and government energy markets.

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Lloyd’s Will No Longer Include Nation-State Attacks in its Cyber Insurance Policies

IT Governance

Lloyd’s of London has announced that its insurance policies will no longer cover losses resulting from certain nation-state cyber attacks or acts of war. In a memo sent to the organisation’s insurance syndicates , Underwriting Director Tony Chaudhry said that Lloyd’s remains “strongly supportive” of policies that cover cyber attacks.