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Drones Take Flight: Key issues for insurance

tarih: Ağustos 05, 2019

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AIG Europe Cyber Risks Report 2016

Policy Expert forays into motor insurance

Digital home insurer Policy Expert has opened its doors to the world of car coverage. Acquiring motor insurance business Sure Thing! for an undisclosed sum, Policy Expert said the transaction supports the latter ’s expansion plans. Meanwhile the acquired company will continue to operate under its existing brand but under a different senior management team. Sure Thing! will now be led by Policy Expert co-founder and chief operating officer Adam Powell (pictured) who has taken on the additional role of chief executive at the car insurance provider. “Since our launch of Policy Expert in 2011, we have become the most successful market entrant in home insurance in the last 10 years, by harnessing proprietary technology and data analytics to challenge the insurance status quo,” asserted Powell. “We have developed a highly agile and scalable platform, which has delivered eight years of annual growth and will support our long-term ambitions to serve customers across multiple produc

Manufacturers' cyber risk is about a lot more than data breach

In March, Norsk Hydro ASA, one of the world ’s largest aluminium producers, experienced production outages after being hit with ransomware that affected the manufacturer ’s operations in Europe and the United States. While Norsk Hydro has cyber insurance, according to reports from Bloomberg, manufacturers more broadly often have lacklustre cyber policies in place that don ’t provide enough coverage, and the industry on the whole is the victim of the second highest number of cyberattacks, directly behind healthcare. There are a number of reasons why manufacturers are at a disadvantage when it comes to cyber threats. Deloitte ’s “Global Cyber Executive Briefing – Manufacturing” revealed that many manufacturing systems were developed during a time when security wasn ’t as big of an issue, and the focus of the technology has mainly been on performance and safety, rather than security. Moreover, because these systems are so complex, the network infrastructures are extremely specialised, w

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