week commencing 24/03/19:

With Trump conspiracies and Brexit plots, what tales have unfolded in the insurance world this week? Read on for our pick of the market press.


DLA Piper challenges Hiscox in cyber attack claim

One of the first legal disputes in Britain over how companies can recover the costs of cyber crime is under way, with DLA Piper bringing a case against Hiscox for refusing to pay out on a multi-million pound insurance claim caused by the Petya cyber attack. External-link [The Times]


Chief risk officer is the latest executive to leave Lloyd’s

Hilary Weaver is set to leave at the end of March after 16 years, saying that it was “time to look for the next challenge” having served under four CEOs and three chairmen in her time at the Corporation. External-link [Intelligent Insurer]


Boost in insurtech start-ups seen in Asia

Insurtechs are gathering pace in Asia, with a growing number of start-ups seen in emerging markets such as Thailand and Pakistan, as well as China and India. External-link [Asia Insurance Review]


Amazon-Travelers tie-up indicates direction of travel

The partnership is seen to be an opportunity for both parties to widen their reach but also to innovate. External-link [Insurance Business]


Former JLT exec warns key talent will leave with Marsh takeover

Former JLT commercial director James Twining shared concerns that the clash of cultures between the two businesses could scare off JLT’s “best people”. External-link [Insurance Insider]


Activist investor moves against Scor’s joint chairman and CEO

CIAM, which owns 0.94% of the French reinsurer Scor, has raised concerns to shareholders about the amount of power Denis Kessler holds by being both chairman and chief executive, as well as disputing his pay packet. External-link [Insurance Day]


Collaborative effort to reduce hacking risk led by Marsh

Marsh is leading on a consumer ratings service, a collaboration of some of the largest insurers in the market, which looks to give an assessment of the best cyber security available to businesses. External-link [The Wall Street Journal]


Lloyd’s cuts its losses to £1bn

The Corporation has reported a £1bn loss for 2018, compared with a £2bn loss the previous year. Cat losses from natural disasters in 2018 including the California wildfires and hurricanes saw Lloyd’s pay out £19.7bn in claims last year. External-link [The Guardian]


Lloyd’s CEO puts cultural change at the top of the priority list

John Neal gave a hint of his plans for Lloyd’s on Wednesday, looking at reforming the insurance market through technology to make it easier to do business in London, as well as focusing on responding to claims of sexual harassment and inappropriate behaviour. External-link [Financial Times]


Concerned kids ask parents to stop posting pictures online

Children aren’t allowed to register with most social media services until they are 13, yet have an online presence through ‘Sharenting’ – the act of parents sharing news and pictures of their children online, causing issues regarding lack of privacy and boundaries. External-link [BBC News]


The Brexit battlefield: who lost and won?

Had the UK lost in its Brexit negotiations with the EU even before the votes were counted in 2016? External-link [Politico]


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