Insurance industry event sets for third edition in Nigeria | The Guardian Nigeria News

Insurance

Dive In, the insurance industry’s festival in commemoration of diversity and inclusion (D&I) has announced it will be hosting its event for the third consecutive year in Nigeria on 22 September 2021.

This year, the event which pays special attention to the socio-cultural issues in the workplace in Nigeria, will focus on the theme, ‘Mind the Generation Gap’ in order to task the industry to turn intention into action.

The organisers disclosed that registration for the event, and for other global events, opens on 5th of August, 2021 via diveinfestival.com

Speaking on the impact of the Dive In Festival in Nigeria so far, Mary Alade, Chief Strategy Officer at Aon – lead sponsor of Dive In Nigeria said: “The research results from the Dive-In Festival in Nigeria 2020 was quite an eye-opener and the letters to younger-self by senior female executives in the sector served as a wakeup call

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Business Insurance Won’t Pay Out? Here’s What You Need To Do

All businesses need insurance as part of their expenses to protect themselves against the unexpected. If your office is damaged, your building and contents insurance will cover the cost. Liability insurance will pay court costs and settlements if a customer is injured on your property and wants to sue. If you don’t have the right insurance in place, you can end up in serious financial trouble.

However, insurance doesn’t always guarantee protection. And, in some cases, your insurer may refuse to pay out. There are a number of reasons why your business insurance won’t pay out. But it’s often because there are mistakes with the information you gave or they don’t believe that you are being completely truthful about the circumstances of your claim.

This is especially true when trying to make a claim when a customer is injured on your property. It’s a tough situation to find yourself in,

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Alliant Insurance Services Adds Pooling Expertise

NEWPORT BEACH, Calif.–(BUSINESS WIRE)–Alliant Insurance Services has announced Kaci Snyder has joined the company as Senior Vice President, Public Entity. As a member of the Public Entity Education & Pooling Practice, Snyder will focus on working with self-insurance pools to provide brokerage, underwriting administration, marketing and comprehensive administration services.

“Kaci is an excellent addition to our team; her first-rate administration of pools will be of great benefit to our clients,” said Daniel Howell, Senior Executive Vice President, Alliant Public Entity.

Snyder has significant insurance experience, with 30 years in the underwriting and brokerage fields. Most recently, Snyder served as an Executive Vice President for a global insurance brokerage where she worked as the lead client advocate for several pools providing brokerage and administration services. Prior to that, Snyder held various underwriting positions as a national accounts underwriter and a casualty facultative underwriter.

Snyder earned a Bachelor of

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Business Insurance Customers’ 3 Top Asks and 5 Top Buying Reasons

Almost half (48%) of business insurance buyers say their trust in insurance has increased since the start of the pandemic, but only 54% believe that insurance is meeting their businesses’ challenges very well.

A new report from specialty insurer Beazley highlights that in addition to financial protection, businesses are looking to their insurance partners to provide them with more risk insight, risk management-related services and flexible coverage that better meets their business’ changing needs.

The findings are based on research commissioned by Beazley involving 1,000 senior executives and insurance buyers in the U.S. and UK, from across 10 different industry sectors, plus additional insight from in-depth interviews with a panel of risk and insurance industry experts.

The survey found that a quarter of business leaders struggle to understand what coverage they need, while 19% find it hard to get insurance tailored for their sector or specialty business. A worrisome 44%

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THE MAJOR TYPES OF INSURANCE EVERY BUSINESS OWNER SHOULD HAVE – News Anyway

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Being an investor or small business owner is a complicated and frequently risky venture. Most people who consider going out on their own in business are well informed of this and embrace it as an essential aspect of running an independent firm. After all, establishing and building your own business entails risking your work, leisure time, personal money, and even your mental health to pursue your ambitions.

However, many people are unaware of how prevalent and possibly disastrous specific business hazards may be, particularly those beyond their control. Errors and mishaps may and will occur no matter how skilled you are at what you’re doing or how accomplished you are. A costly lawsuit, unintentional error, or unexpected tragedy may quickly inflict enough financial harm to endanger the viability of most small enterprises.

That is why it is essential to obtain the proper type of company insurance. It

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Hartford’s Q2 profit soars 94%

Hartford Financial Services Group Inc. reported second-quarter net income of $900 million, up 94% from the year-earlier period, driven in part by written premium and underwriting gains in commercial lines and a decrease in COVID-19-related losses.

Despite the sharp rebound from the second quarter of 2020, Hartford Chairman and CEO Christopher Swift said in an earnings call with analysts Thursday that the insurer is “closely monitoring the recent elevated inflation data.”

Mr. Swift said he remains confident that Hartford’s loss ratio assumptions are “sufficient,” but added, “at the same time, we are considering pricing actions as we gauge inflation trends going forward.”

Hartford said after the markets closed Wednesday that property/casualty reported written premiums totaling $3.3 billion in the second quarter, a 12% increase from the year-earlier period. Its combined ratio was 88.5%, an 8.4 point improvement over the year-earlier period that the insurer attributed to lower COVID-19 incurred losses,

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Insurance Law: Business Insurance Policies To Rescue Businesses Amid The Ongoing Unrest And Looting? – Insurance


South Africa:

Insurance Law: Business Insurance Policies To Rescue Businesses Amid The Ongoing Unrest And Looting?


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The ongoing events of unrest and looting of shops around the
country, particularly in KZN and Gauteng have certainly been
worrying for business owners. Businesses have had their
properties maliciously destroyed; set alight; plundered;
broken into; etc. Moreover, these acts are not limited to certain
types or sizes of businesses but ranges from small to
large business; from cars to trucks; liquor shops; furniture
stores; food outlets; supermarkets; etc. In some
instances, various types of businesses are destroyed in a
single incident (for example, where a mall is set
alight). The significance of these incidents from
an insurance law perspective is that there are many
insurance

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AIG unit must defend Texas retailer in data breach case

A federal appeals court reversed a lower court Wednesday and ruled an American International Group Inc. unit is obligated to defend a retailer in connection with a data breach.

Houston-based Landry’s Inc., which operates retail properties including restaurants, hotels and casinos, discovered a data breach that occurred between May 2014 and December 2015 that involved the unauthorized installation of a program on its payment processing devices, according to Wednesday’s ruling by the 5th U.S. Circuit Court of Appeals in New Orleans in Landry’s Inc. v. The Insurance Co. of the State of Pennsylvania. 

Over about a year-and-a-half, the program retrieved personal information from millions of credit cards and at least some of that information was used to make unauthorized charges, the ruling said.

The issue led to litigation between Landry’s and its credit card processor, Paymentech LLC, a unit of JPMorgan Chase Bank N.A. Paymentech alleged Landry’s was obligated to

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Beazley shares soar as insurer swings to a profit

(Reuters) — Shares in Lloyd’s of London insurer Beazley PLC leaped to a 10-month high on Friday after it swung to first-half profit and said it was investing heavily in its cyber insurance business to meet rising demand in the face of ransomware attacks.

Cyber insurance has become a growing focus for specialist insurers such as those operating in the Lloyd’s of London market, though a spate of recent attacks has also made some more cautious about the cover they offer.

“We continue to invest strongly in our cyber infrastructure because that is probably the most significant opportunity we have ahead of us,” Beazley Chief Executive Adrian Cox told Reuters.

Beazley reported a pretax profit of $167.3 million for the six months ended June 30 after a loss of $13.8 million a year ago, but said it would only consider a dividend at year-end. It released $95.7 million it had

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Hippo unveils homeowners association product

Hippo Enterprises Inc. on Friday said the first offering from its commercial lines unit is a homeowners association product.

Coverage will include commercial property, fidelity, inland marine, data breaches, general liability, combined directors and officers and employment practices liability, hired and non-owned auto liability with physical damage coverage, and available excess liability covering underlying coverage parts.

Hippo said it will also offer cover “for items that personal lines and traditional commercial lines typically do not include, such as pools, landscaping, private roads, retaining walls, and elevator collision.”

Coverage is available now in Arizona,  expanding to Colorado, Illinois, Michigan, Nevada, Oregon, Tennessee and Utah later this year, Hippo said in its statement, adding that additional commercial programs, including condominium associations and single-family rentals, will also begin rolling out later this year.

Rick McCathron, Hippo’s president, said in the statement the insurer wants to “modernize the commercial insurance experience.”

Hippo said in

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