Blog

IRL – August 2019 Preview

August Highlights

Understanding Blockchain, Part 2 In part one of this article, published in the June 2019 issue of the Insurance Research Letter, we provided an overview of how blockchain technology works and how smart contracts are employed to make this technology relevant in this modern economy. Here in part two, we discuss the broader and more global risks of the technology as a whole, and by way of example, the risks as they may present themselves for more specific lines of business. We also present issues to consider as it pertains to the restriction or refinement of policy terms and conditions. Page 10

E-Scooters Are Everywhere Now, but Insurance Coverage for Riders Is Nowhere In 2018, many major U.S. cities saw electric scooters become ubiquitous. Lime reportedly had 26 million rides in 2018. E-scooters rented out by companies like Lime, Bird, Razor, Lyft, and Spin are part of the growing on-demand economy that includes ride-sharing companies like Uber and Lyft. But are users covered by insurance if they hurt someone or damage property while operating an e-scooter? Probably not. As this industry continues to grow, the importance of clarifying the scope and availability of insurance coverage also grows. Page 11

IRL Contributor Introduces Tall Tower Guide We live in very interesting times. Anti-law enforcement rhetoric, mental illness and terroristic threats are becoming more prevalent. This Guide has been developed to establish guidance and best practices and stimulate conversations around protecting our buildings from tomorrow’s uncertainties. Page 12

unisonSteadfast Independence Day Conference 2019: Vienna On June 26, more than 200 brokers of the global unisonSteadfast community, representatives of major insurance carriers and independent insurance experts from all over the world gathered unisonSteadfast’s annual Independence Day Conference 2019 in Vienna. With more than 270 attendees from over 40 countries, the IDC has again grown enormously in size, promising to become one of the leading conferences of the global insurance industry. Page 16

An Update to Restrictive Covenants Restrictive covenants are a common feature in employment contracts. Their aim and purpose is to protect the employer’s clients, customers and its business. Tillman v Egon Zehnder Ltd was the first Supreme Court decision in almost 100 years to consider restrictive covenants. The judgment has changed the accepted interpretation and overrules the previous Attwood decision. Page 13

GDPR – One year on The General Data Protection Regulation (EU) 2016/679 (GDPR) came into force on 25 May 2018. This date marked a dramatic change in data protection and privacy. The Information Commissioner’s Office (ICO) is the UK’s independent body set up to uphold information rights. The ICO has recently published an overview of its work regarding the implementation of the GDPR in the last year (May 2018 – May 2019) and future priorities for the year ahead. In this short article, we look at some of the key points of this report and a few of the things to consider in terms of GDPR compliance for businesses for the year ahead. Page 13

British Insurance Awards hits 25th anniversary It was a night of celebration at London’s iconic Royal Albert Hall at the beginning of July as the British Insurance Awards marked its 25th anniversary. The first British Insurance Awards took place in Grosvenor House but they quickly outgrew that venue and moved to the Royal Albert Hall in 1999. They now attract 2000 guests to the black tie dinner with nearly 30 awards for the general insurance market supported by sparkling entertainment that has people dancing until midnight. Page 16

Trending
Share this Post:
Posted by Alex Hodges
Alex has 40+ years of experience in the industry with a specific interest in the international P&C business. Alex began his career with Rollins Burdick Hunter Co in Chicago; moved to New York with the firm; then back to Chicago HQ after the acquisition of RBH by Aon. As part of Aon’s global acquisition team, he moved to The Netherlands to help with the integration of Hudig-Langeveldt and Frank B. Hall in Europe, Scandinavia, United Kingdom and the Middle East. Alex has expertise managing large multinational insurance programs. His last position with Aon was managing the Aon-owned Strategic Underwriters International MGA for Kidnap, Ransom & Extortion, Workplace Violence and Political Risk. Alex is the founder of Insurance Services Network Corporation and Editor-in-Chief of the IRL – Insurance Research Letter.

Advertisement

ad ad

Recent IRL blog posts (feed most recent date first)

Insurance Headlines – August 10, 2021

AIG reducing cyber limits as costs climb No surprise, smart move – crazy to offer high limits with reinsurance capacity limited Aon Reports Q2 2021 Results [Infographic] Amazon reveals massive...

August 2021 Editor's Letter - IRL

Aon & Willis Scrap Deal Under Government Pressure When I awakened the other day to the news that Aon had scrapped the deal to acquire Willis Towers Watson, I was surprised. Now that the dust has...

Weekend Read – July 30, 2021

Headlines Aon & Willis Towers Agree to Terminate Combo and pay WTW $1bn Aon to pay another $350 million or more in Willis deal costs Aon establishes new leadership team after failed...

July 2021 Editor's Letter - IRL

Hold the horses! US DoJ filed to sue to stop Aon/Willis merger Bloomberg reported: “The U.S. Justice Department sued to block Aon’s proposed $30 billion acquisition of Willis Towers Watson, saying the...

AIG, Chubb, other insurers form cyber consortium

CyberAcuView LLC, a consortium aimed at enhancing cyber risk mitigation efforts across the industry. CyberAcuView is 100%-owned by the founding members which are major participants in the global...

Headlines & Bits of Interest – 28 April 2021

Hard market to continue….! “Our commercial P&C businesses globally continued to capitalize on favorable underwriting conditions. P&C net premiums were up 9.7% globally, with commercial lines...