P&C Market Update: What’s the impact of the 2017 disasters?
The current insurance marketplace remains in a state of uncertainty as insurance and reinsurance carriers seek to understand the full scope of their recent catastrophe (CAT)-related losses. Check out the February 2018 Lockton Market Update for more information as well...
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Threat of Cyber Increasingly a First Party Risk
Are you aware that most of the first party cyber incidents have created greater financial impact to companies than just a breach of Personally Identifiable Information (PII)? Recent events have demonstrated that Operational Technology is becoming an increasing...
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4 Steps to Keeping Workplaces Safe With New Marijuana Laws
West Virginia is the 29th state to legalize marijuana recreationally or medically, with more likely to follow. Vermont, a state that has allowed marijuana for medical use for more than 10 years, will allow it for recreational use beginning July 2018. It is the...
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P&C Market Update: Storms and Earthquakes May Disrupt Insurance Markets
Market Shift Ahead? Recent catastrophic storms, earthquakes and fires have wreaked havoc on communities across the US, Mexico and the Caribbean. What effect this will have on the global insurance market is just starting to emerge. Lockton’s October 2017 P&C...
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Market Shift Ahead?
Insights From Insurance Carriers Lockton senior leaders recently met with executives from more than two dozen of our key insurance carriers. With the recent hurricanes, earthquakes, and wildfires, we want to share preliminary insight about how these events may affect...
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What You Need to Know: Irma and Harvey
Irma has been downgraded to a tropical storm but will still bring damaging winds, flooding rain, and tornado threats northward into Georgia and the Carolinas, while continuing to lash parts of Florida, even as Irma's peak winds slowly subside. Irma has already broken...
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Insurance and Home Sharing – Who Covers It?
The home sharing economy has brought about a new model for accommodation provision. Through online platforms, people who have a place to stay are connected to those who are willing to pay for a place to stay. Home sharing sites like Airbnb, VRBO and HomeAway have been...
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Are you bilingual? Can you speak Risk and Finance?
Risk managers increasingly need to be able to understand and interpret two very different organizational languages: insurable risk and finance. "Bilingual" skills are becoming necessary because of where risk management sits in an organization. In most organizational...
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Hurricane Season Begins
With the 2017 hurricane season officially launched on June 1, we can look forward to a more than average hurricane season if you believe the forecasters. Each modeler for the 2017 season is indicating some version of the following: 11-17 Named Storms 4-9 Hurricanes...
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What you need to know about the WannaCry Ransomware attack.
On May 12th 2017 a new strain of the Ransom.CryptXXX (WannaCry) began spreading widely impacting a large number of organizations, particularly in Europe. WannaCry encrypts data files and, according to latest reports, asks users to pay a $300 ransom. WannaCry exploits...
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P&C Market Update: Abundant Commercial Insurance Market Benefits Buyers
Capacity and growth in commercial insurance create a buyer’s market Market conditions still continue on the path that supports favorable pricing, coverage terms, and program structures that benefit many buyers. Lockton’s April 2017 P&C Market Update states...
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Captive Solutions for the Trucking Industry
Throughout the last eighteen months, premiums within the commercial auto space have risen steadily and sometimes dramatically. Underwriters are struggling to turn a profit, and insureds continue to look for alternative program structures to help stabilize...
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Environmental Insurance Expects Healthy Competition in Uncertain 2017
2016 was a tumultuous year for the Environmental Insurance market. The unexpected exit of AIG, one of the most significant carriers by market share and capability, was followed by the emergence of new carriers and little, if any, impact on rates. Moving non...
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