insuranceNEWS.com.au https://www.insurancenews.com.au/ General insurance and financial services news from Australia and around the world en-au admin@insurancenews.com.au Copyright 2022 'Flowed into pockets of corrupt officials': JLT Specialty fined over Colombia commissions https://www.insurancenews.com.au/international/flowed-into-pockets-of-corrupt-officials-jlt-specialty-fined-over-colombia-commissions https://www.insurancenews.com.au/international/flowed-into-pockets-of-corrupt-officials-jlt-specialty-fined-over-colombia-commissions UK regulator the Financial Conduct Authority has fined JLT Specialty £7.88 million over “lax controls” that led to commissions it paid in relation to a business deal in Colombia ending up in “the pockets of corrupt officials”...

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Mon, 27 Jun 2022 14:11:00 +1000
No country immune: Australia among most vulnerable to cyber attack https://www.insurancenews.com.au/international/no-country-immune-australia-among-most-vulnerable-to-cyber-attack https://www.insurancenews.com.au/international/no-country-immune-australia-among-most-vulnerable-to-cyber-attack Australia is among countries most vulnerable to cyberattacks, RIMS says, with an average cost of cybercrime $6.6 million...

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Mon, 27 Jun 2022 14:10:00 +1000
Brokers 'must do more' on M&A risk https://www.insurancenews.com.au/international/brokers-must-do-more-on-ma-risk https://www.insurancenews.com.au/international/brokers-must-do-more-on-ma-risk Brokers should play a greater role in helping tech clients mitigate merger and acquisition deal risk, cyber specialist CFC says...

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Mon, 27 Jun 2022 14:10:00 +1000
Volatile US lightning claim costs decline to $1.9 billion https://www.insurancenews.com.au/international/volatile-us-lightning-claim-costs-decline-to-1-9-billion https://www.insurancenews.com.au/international/volatile-us-lightning-claim-costs-decline-to-1-9-billion US insurers paid out $US1.31 billion in lightning-caused homeowner claims last year, dropping from $US2.06 billion in the previous 12 months...

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Mon, 27 Jun 2022 14:08:00 +1000
Zurich report outlines systemic failures in preparation for 'Bernd' weather event https://www.insurancenews.com.au/international/zurich-report-outlines-systemic-failures-in-preparation-for-bernd-weather-event https://www.insurancenews.com.au/international/zurich-report-outlines-systemic-failures-in-preparation-for-bernd-weather-event Zurich Insurance has released analysis of last year’s severe flooding in parts of western Europe, saying the catastrophic weather event showcased inadequate standards of flood preparation and resilience...

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Mon, 27 Jun 2022 14:05:00 +1000