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Beinsure — Insurance, InsurTech & Crypto Insights
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Banning ransom payments

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Ransomware payments in the U.S. have totaled more than $1 billion. Most notably, a Russian ransomware attack forced Colonial Pipeline to shut down oil supplies to the eastern United States before the company paid hackers. As disruptive as this hack was, it pales in comparison to what would happen if America’s critical financial infrastructure were to be taken offline.

Total ransom amount paid by victims increased by 311% to reach nearly $350 million (in cryptocurrency). Notable victims include United Health Services, Orange and Acer. The problem has become so widespread that the ransomware “industry” is already worth $14 billion.

Canadian companies are also falling victim to ransomware attacks. In late 2020, the Canadian Centre for Cyber Security warned that ransomware attacks against Canadian businesses and critical infrastructure providers would almost certainly continue, and many victims will likely continue to give in to ransom demands.

Insurer & Reinsurer Perspectives on Ransomware. Insurance Market Outlook

Cyber Insurer Perspectives on Ransomware. Insurance Market Outlook

The views of the insurance industry are not always prominent in the debate on ransomware. In order to provide a re/insurer perspective, we surveyed cyber insurance
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Belgian & Dutch Insurers’ Investments Should be Resilient to Credit Risks

Belgian & Dutch Insurers’ Investments Should be Resilient to Credit Risks

Belgian and Dutch insurers’ conservative investment portfolios should be resilient to rising credit risks amid weakening economic conditions and tightening monetary policy
Most Insurance Companies are Sitting on Significant Losses in Fixed Income

Most Insurance Companies are Sitting on Significant Investment Losses

The increase in interest rates over the last year has been positive for life insurers in Europe, improving both solvency and financial results
US Insurers’ Investments to the Failed Banks are Modest

US Insurers’ Investments to the Failed Banks are Modest

Insurers’ investments to the failed banks (Silicon Valley Bank, Silvergate and Signature Bank) are modest. Fitch-rated insurance entities’ direct investment exposure
Life & Health Insurance Should Focus on Inclusion: Availability, Accessibility, Affordability

Life & Health Inclusive Insurance : Availability, Accessibility, Affordability

No Life & Health (L&H) insurance market is fully inclusive. This is supported by the findings of Swiss Re Institute L&H Insurance Inclusion Radar

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