Operations/tech
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From 16 December, Next Gen will be the only platform available to quote, bind and endorse risks. -
The new contract will include annual rent increases of 3%-5%.
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The scheme will begin with support for transport risks before broadening to other lines.
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The scale of the Cat 221 flood event, as well as labour and materials shortages, contributed to its impact, the ICA said.
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The 3x3 plan takes the things about the firm over the last decade that have been distinctive and intensifies them.
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The broker’s share price fell by around 4% after the announcement of its Q3 results and extended restructuring program.
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The not-for-profit placement platform generated a surplus after tax of £1.48mn for 2022, a substantial drop from an £8.83mn surplus in 2021.
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Two studies have found that, while almost a third of back-up attempts fail to restore system data after a ransomware attack, cybercriminals are refining their methods.
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The reinsurer said carriers could face challenges around underwriting profits and solvency levels.
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The firm announced plans in May to decommission the original PPL v3 platform by the end of 2023.
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The panel discussed issues around AI including its deployment, ethical concerns, bias minimisation, decision-making and the role of leadership.
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The 2023 Travelers Risk Index has put concern over cyber threats among the top three worries for small, medium-sized and large businesses for the ninth straight year.
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