Hacked firms may find investment harder says KPMG
A report from KPMG reveals that many investors would be put off investing in a company that had suffered a cyber attack. The poll of institutional investors around the world with a combined $3 trillion under management revealed that there is little confidence in the ability of companies to protect against cyber risk. Less than half say the businesses they invest in have the necessary skills with 43 per cent saying that the C-suite has “adequate skills and knowledge” to manage the risk. An overwhelming majority (86 per cent) of respondents want businesses to put more time into managing cyber threats.
Goldman Sachs sees fewer investment opportunities for insurers
Negative yields and high equity prices are among the issues creating challenges for investment by insurance companies. That’s according to a report issued this week by Goldman Sachs. “Too Much Capital, Too Little Return” says that insurers are not expecting high yields this year however they are expecting to increase their portfolios by investing further in US and European equities and private equity. While European and Asian insurers have a greater appetite for risk currently, the report says that those in the Americas are planning to maintain current levels.
Belly dancers and clowns can now buy insurance online
Entertainers can now buy liability insurance through a new website launched by K&K Insurance, part of Aon. EntertainerInsurance-KK.com is targeted at solo performers and bands operating as independent contractors. The coverage includes bodily injury and property damage claims together with medical expenses. As well as belly dancers and clowns the site quotes for such diverse entertainment as contortionists and singing telegram deliverers.
Canadian budget brings welcome changes for auto insurance
Insurance Bureau of Canada has welcomed a change by the Ontario government that is says will benefit drivers in the province. The provincial budget includes a reduction in insurance premiums for drivers using snow tires. Ralph Palumbo, Vice-President, Ontario, IBC commented: “These reforms will remove excessive costs and this will result ultimately in lower premiums for Ontario’s 9.4 million drivers.” However he noted that there are other issues to be addressed with Ontario’s auto insurance system and said that the IBC and its member companies will be working towards further reforms.
