Number of Countries with High Risk of Kidnapping Rises: Report

The world was a more dangerous place for kidnappings in 2015 with the number of severe-risk countries surging from 8 to 11.

Global risk and crisis management consultancy NYA International released its 2016 Kidnap and Piracy Map and Global Kidnap Review last week for organizations seeking guidance on the threats to their people and operations worldwide.

Read more at http://www.advisenltd.com/2016/02/22/number-of-countries-with-high-risk-of-kidnapping-rises-report/

Josh Bradford, Number of countries with high risk of kidnapping rises: report, Advisen News (February 22, 2016), available with subscription at Advisen Professional Front Page News.

Marsh Sees Buyer’s Insurance Market, Heightened Demand for Cyber in 2016

The US commercial insurance market should be beneficial for buyers, with continued downward pressure on rates as well as steady demand for cyber insurance coverage, a trend that surged in 2015, according to the latest report from Marsh.

“With 2016 under way, the global insurance marketplace appears to be heading in the general direction of soft pricing, reflecting insurer capacity, competition, and relatively low catastrophe losses,” said Robert Bentley, president of Marsh’s US and Canada division. 

Read more at http://www.advisenltd.com/2016/02/22/marsh-sees-buyers-insurance-market-heightened-demand-for-cyber-in-2016/

Erin Ayers, Marsh sees buyer’s insurance market, heightened demand for cyber in 2016, Advisen News (February 22, 2016), available with subscription at www.advisenltd.com.

2016 Cyber Risk Insights Conference – San Francisco

March 02, 2016 - March 03, 2016

12:00 pm - 6:00 pm PT 

Sir Francis Drake Hotel

450 Powell Street

San Francisco, CA, 94102

USA

415-391-8719

Advisen will present a full day and a half of learning and networking for risk managers, CISOs, CROs, insurance brokers, insurance underwriters, reinsurers and other risk professionals. With an emphasis on the business, technology and regulatory factors that make California and the West Coast unique. An expert faculty comprised of leading security, regulatory, risk management, and cyber insurance authorities will provide their insights into the critical privacy, network security and insurance coverage now issues facing organizations and their insurers.

Please note that we take lots of pictures at our events, and we post them on our website.

Full-time Risk Manager/Buyer of Insurance: Registration Qualifications

To attend any Advisen conference for free, you must be a full-time in-house Risk Manager/Buyer of Insurance at an insured only. This rate does not apply to consultants, those who take on this responsibility part-time, or those who are in the IT/Finance department. We cannot extend this offer to anyone whose principal function is not risk management.

This content originally appeared in Advisen Ltd. Click here to read the full details about this upcoming event.

Cyber Risk Data Methodology for Insurance & Risk Analysis

Advisen’s Cyber Database is a proprietary relational database of information about various events which have or could have resulted in significant financial judgments or financial loss to corporate entities. Cyber events are particularly relevant to our clients, as cyber is a newly-emerging risk with evolving coverages and parameters.

Cyber Risk Data Methodology

This 10-page methodology document describes the principles and methodology of how cyber data is organized for Advisen’s clients.

This content originally appeared in Advisen Ltd. To read the full story, you must download the Cyber Risk Data Methodology for Insurance & Risk Analysis Report

Hot Topics in Public Company D&O

February 2016

Advisen wrote a white paper that examines merger objection litigation and shareholder derivative actions – two hot button topics that generated interesting activity in 2015 and have the potential to reshape the D&O claims landscape. The free, 8-page paper is sponsored by Allied World.

Reshaping the D&O claims landscape

In recent years, from a macro level, the D&O claims trends environment has been steady and relatively predictable. In fact, according to Advisen data, which examines all sources of securities-related suits that could impact underwriting and the placement of management liability insurance, the number of new securities and business litigation filings and enforcement actions remained flat in 2015.  Although still above pre-financial crisis levels, there has been an overall downward trend in securities suits filed since the peak of financial crisis-related litigation in 2011.

This content originally appeared in Advisen Ltd. To read the full story, you must download the Hot Topics in Public Company D&O White Paper

Cyber Insurance Market’s Sustainability Questioned by Ratings Firm

Cyber risk could become the next “mega-catastrophic loss” for the insurance industry, according to a recent report from Kroll Bond Rating Agency, which sounded an alarm on inconsistencies and confusion surrounding cyber insurance and recommended that only insurers with significant capital and expertise enter the business of underwriting cyber risk.

“While the industry is looking at cyber insurance as a possible growth opportunity, insurers must not lose sight of their own cyber security,” Kroll wrote in its report. “Late in 2015, the NAIC adopted a Cybersecurity Bill of Rights, designed to protect consumers. At that time, Commissioner Hamm said, ‘Consumers have a right to expect their personal, financial and health information entrusted to the insurance industry is secure.’

Read more at http://www.advisenltd.com/2016/02/02/cyber-insurance-markets-sustainability-questioned-by-ratings-firm/

Erin Ayers, Cyber insurance market’s sustainability questioned by ratings firm, Advisen News (February 2, 2016), available with subscription at www.advisenltd.com.

New Data Standards Could Offer More Cyber Accuracy Now

AIR Worldwide last week released a cyber exposure data standard, a first step toward a full cyber model but insurers may not have to wait to begin more accurately underwriting and pricing cyber risk, according to Scott Stransky, principal scientist at AIR.

Stransky recently spoke with Advisen to offer more detail about the standard as well as the preparer’s guide issued in conjunction with it. He explained that while AIR has been at work on developing a cyber risk model, the standard, in conjunction with AIR consulting and a SQL schema, can already provide insight for insurers into their cyber risk portfolio. The standard represents extensive work with over 50 insurance companies, according to Stransky, and is meant to be a tool that insurers can develop over time to meet their needs, as well as create a uniform way among the insurance and reinsurance industry to communicate about cyber risk.

Read more at http://www.advisenltd.com/2016/02/02/new-data-standards-could-offer-more-cyber-accuracy-now/

Ayers, Erin. “New data standards could offer more cyber accuracy now.” Advisen Ltd, 2 February 2016. Web. 5 February 2016.

K2 Intelligence’s Ray Kelly: Identify Critical Assets and Narrow Threats

K2 Intelligence is looking to hitch the experience of former New York City Police Commissioner Ray Kelly to its practice, joining other former government officials at the corporate-investigations firm.

Kelly late last year was named vice chairman at K2 Intelligence and will give his insight to the design and development of worldwide clients’ enterprise risk solutions.

Read more at http://www.advisenltd.com/2016/01/29/k2s-ray-kelly-identify-critical-threats-and-narrow-threats/

Hemenway, Chad. “K2 Intelligence’s Ray Kelly: Identify critical assets and narrow threats.” Advisen Ltd, 29 January 2016. Web. 3 February 2016.