How modern tech companies are leaving old insurance policies in the dust
May 19, 2022 by Jason ContantModern tech companies are moving along at a much faster pace than the insurance policies designed to protect them, says Michael Brunero, head of tech, media and intellectual property (IP) at CFC Underwriting. “We started to realize the policy that…
Intangible asset damage can be as costly as physical loss
January 27, 2022 Greg Meckbach and Jason ContantYou can’t light them on fire. A tornado can’t blow them away. They won’t rot of mold when wet. Still, damage to intangible assets, like brand recognition and reputation, can harm a business as much as the destruction of a…
Intellectual property insurance can help smaller firms fight competitor lawsuits
January 11, 2022 Maddi Brown, CFC UnderwritingA shift toward remote work has led businesses of all sizes to focus on the importance of their intellectual property (IP). There is more IP in existence today than ever, and in more areas as companies look for ways to…
Why D&O insurers need to focus on the ‘S’ in ESG
November 9, 2021 by Jason ContantThe ‘S’ pillar of environmental, social, and governance (ESG) practices should be an increasingly important area of focus for D&O insurers, a specialist insurance provider said recently. While ESG is clearly a hot topic, the environmental and governance pillars have…
Spooky Halloween risks that need an insurance policy
October 28, 2021 by Jason ContantSome insurance professionals will be donning costumes at the (virtual) office this Halloween, and others will be taking their kids out trick-or-treating on the weekend. But just because it’s Halloween doesn’t mean it’s time to forget about insurance altogether. London,…
Why now is the time for brokers to talk about intellectual property insurance
August 27, 2021 by Jason ContantWhile the technology and life sciences sectors have been traditional areas of focus for intellectual property (IP) insurance, one specialist insurance provider says now is the time for brokers to open up discussions to include other industries. Maddi Brown, intellectual…
This line of business needs to be simplified, MGA says
August 24, 2021 by Jason ContantThe insurance industry needs to move forward and simplify intellectual property (IP) coverage for the small- and medium-sized enterprise (SME) market, a specialist insurance provider said. IP insurance typically involves long, complicated proposal forms, a fee charged to get a…
Experts want you to change cyber convos. Here’s how
June 10, 2021 by Adam MalikBrokers and insurers need to change the way they speak to clients about cyber coverage and the types of products that are available, a cyber expert recently advised. Selling full-suite, one-size-fits-all cyber policies that don’t actually fit a client’s profile…
Cyber insurance experts debunk conspiracy theories
May 26, 2021 by Adam MalikOne cybercriminal recently mused online that hackers are incentivized to launch cyberattacks because companies have cyber insurance coverage, a theory recently debunked by cyber insurance experts. The cybercriminal’s rationale? Since insurance exists for the victims, the hackers will be paid.…
Cautionary tale for brokers when payment time quickens
April 12, 2021 by Adam MalikSince insurance brokers act as intermediaries between client and insurer, the risk of them falling victim to fraud increases as payment turnaround time decreases, says a cyber insurance expert. In fact, brokers “regularly top our list of industries that are…
Canada to see a faster payments system in 2022. Opportunity knocks for brokers
March 29, 2021 by Adam MalikWhile many are eager to see the imminent arrival of a new system that promises to make day-to-day financial transactions quicker, cyber risk experts are warning that such a system may elevate the risk exposure to cybercrime, potentially opening the…
Two options for cyber insurers dealing with huge loss ratios
November 27, 2020 by Adam MalikInsurers will be forced to make tough decisions about how they offer cyber coverage, thanks to claims going through the roof this year and losses piling up across the board, a cycler expert recently told Canadian Underwriter. Insurers will have…