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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Energy Market Seeing Choppy Waters in the Gulf of Mexico
More egregious than the US Government cracking down on banks for being overly optimistic with their loans, has been the direct influence of regulators on the wider operations of energy firms. Especially with respect to their surety / bonding obligations. Nowhere has...
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2 Events in Q2 that Could Create an Optimistic Energy Market
As we entered 2016, crude oil sat at $33 per barrel, down from more than $100 as recently as summer 2014. The naysayers in January, Goldman Sachs among them, predicted a plunge into the $20s, if not lower. Bearish sentiment crept beyond energy markets as the Dow sold...
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Transportation Market in State of Flux
The appropriate description for the current transportation primary and excess marketplace is “in a state of flux.” There is no question that the exit of Zurich and Lexington from the trucking space has had the following impact at a minimum: Reduction in overall...
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4 Keys to Defense Base Act Coverage
The Defense Base Act (DBA) marketplace has become an increasingly tumultuous line of property and casualty insurance during the past several years. US troop draw downs in Iraq and Afghanistan have caused significant changes in contractor exposures in those...
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Bermuda Market Update: What You Need to Know about Wage & Hour Coverage
Many risk managers in the coming months, when asked about what their concerns are in the Employment Practices Liability (EPL) coverage space, will most likely move away from topics like diversity and the implementation of updated HR policies/procedures....
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Market Update: Trends Show New P&C Strategies Needed For Healthcare Organizations
As the first quarter of 2016 draws to a close and many of our clients face mid-year renewals, we want to focus on the healthcare insurance market. On a macro basis, the overall U.S. insurance market remains stable, with near-record capacity of $664 billion and 4.1...
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Overall Casualty Rates Competitive While Auto Sees Slight Increase
The US casualty market remains competitive in 2016, driven by record capacity in the marketplace and an aggressive appetite among most carriers. The result is overall favorable renewal results for most clients. With the economy growing at a modest rate, written...
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Recalls Wreak Havoc — P&C Policies Don’t Cover Them
Food recalls are on the rise with 25 already this year, according to a January 29 Forbes article. Even so, many companies don’t have insurance coverage to protect themselves. You may be surprised to learn a standard property & casualty policy does not cover the...
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Agribusiness Round-Up
Lockton continues to grow our agribusiness expertise, and below we share an industry update that includes market headwinds and topical insurance information that you may find useful. Beef & Cattle Overview In December 2015, frigid temperatures and snow and...
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P&C Market Update: Competitiveness Continues as Market Players Adjust
Lockton has released its March 2016 P&C Market Update, and the US property and casualty insurance market continues to be highly competitive. However, this could be impacted in the future by changes with some major market players. Mergers, reorganizations, and...
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Shifts in Construction Market Force Creative Risk Transfer
Economic growth has spurred the construction industry to life in the past three years. Heading into 2016, the industry is predicted to grow exponentially. Leading the way is non-residential construction, which is driving a 40% increase in growth since 2014. This...
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Changing Tides: Excess Casualty in Bermuda
In nautical terms, there is a moment on the coastal seas known as a slack tide, when the water is calm and free of significant movement in the tidal stream. There is no slack tide in Bermuda at the moment, as insurance companies eagerly await a calming business...
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