JAEYOUL IN’s Post

In the realm of commercial insurance, the landscape is shaped by a multitude of risks, each presenting unique challenges to businesses and insurers alike. From the ever-looming threat of litigation due to liability issues to the unpredictable fury of natural disasters such as hurricanes and wildfires, the spectrum of risks is broad and unforgiving. Additionally, the exponential rise of cyber threats, including data breaches and ransomware attacks, adds a new layer of complexity to the equation, demanding innovative approaches to risk management and coverage. Navigating these treacherous waters requires constant vigilance, adaptability, and a keen understanding of the evolving dynamics of risk in the modern business world. Reach out to your #BrownandBrown advisor today to find out how we can help protect what you care about most. #commercialinsurance #propertyandcasualty #cyber #cyberthreat #climatechange #insurance #environment #geopoliticalissues #insurance

In the insurance world, 2024 brings forth many challenges and transformative trends. From the escalating global risks, such as climate change and cyber threats, to the evolving role of insurers as societal safety nets, the industry is on the brink of significant change. Here are five global insurance trends you must watch out for in the new year. https://lnkd.in/dQpFm2bK

Communicating #digitalrisk to your insurance broker and continuing to proactively address the risk are paramount for obtaining the best #cyberinsurance coverage at the best price year after year. Watch our conversation with SecondSight's CEO @reubenjvandeventer to learn how companies can best map their digital vulnerabilities. https://hubs.la/Q02M-pj30

The recent global outage caused by a #CrowdStrike software update has sent shockwaves through businesses worldwide. As the dust settles, many are now turning to their #CyberInsurance policies for potential relief. While still early, initial indications are that some policies may indeed offer coverage for #BusinessInterruption and #SystemFailure losses resulting from this incident. As always, the devil is in the details. Policy language, deductibles, & waiting periods will significantly impact the extent of coverage. Key Takeaways: 🔍 Review your policy carefully: Understand your specific coverage, exclusions, & limitations. 💸 Document losses: If you were impacted, meticulously document your financial losses & extra expenses. 💡 Engage a trusted advisor: A good risk management & insurance expert can help you navigate the complexities of cyber insurance, even if you haven't purchased coverage yet. This event underscores the volatility of the cyber insurance market. With claims mounting and potential losses reaching billions, insurers may face increased pressure, leading to higher premiums and stricter underwriting standards. Have you been impacted by the CrowdStrike outage? Share your experiences and insights in the comments below. https://lnkd.in/gJJpXa8M #CrowdStrikeOutage #CyberInsurance #RiskManagement #InsuranceAdvisor #BusinessContinuity #Cybersecurity

In preparation for my upcoming panel at the Cyber Risk & Insurance Innovation Europe conference, I recently shared some insights with Intelligent Insurer. As a tech and data vendor, I have the privilege of gaining an inside look at brokers, underwriters, MGAs, competitive vendors, and the feedback associated with these relationships. It's clear to me that there's still a long way to go, but it's important for anyone in the Cyber Insurance space to recognize that they're in the most exciting and dynamic class of business out there! Check out my thoughts on how to achieve sustainability in this volatile market: https://lnkd.in/eUQ9RgtQ

Cybersecurity Secrets All Companies Should Know #coverageassessment #SIAInsuranceGroup #insurance #businessinsurance #riskmanagement #losscontrol #safety https://bit.ly/3wjGkA0

In the face of growing concerns over the insurability of modern risks such as cyber threats and climate-related disasters, the insurance industry is stepping up its game, according to the recently published Allianz Risk Barometer 2024.

Excellent article cyber BI is still very challenging

Cyber business interruption cover is an increasingly important insurance for businesses of all sizes. Yet, risk managers and insurance buyers within companies may find it difficult to gauge the right level of protection they need. For answers, read the insightful article by Laetitia Fouquet, Global Head of Cyber, in Insurance Edge on achieving better alignment in terms of remediation and settlement. #insuranceedge #cyberclaims

Tom Johansmeyer investigates the economic and insurance costs of recent major cyber incidents, pointing to a growing yet neglected trend. Read more on Binding Hook.