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Ransomware was the word of the year in 2021 for the cyber insurance industry as attacks continued to grow in scale and complexity, and experts say this

5 Ways Cyber Business Interruption Differs from Traditional Business Interruption: RIMS Chris Mortifoglio, a forensic accountant, knows all too well how muddy it can become. “I will tell you that in my experience business interruption is often the most misunderstood part of property coverage. Part of that has to do with the fact that it can be very subjective. If you have 10 accounts looking at the same set of financial data, you’ll oftentimes receive 10 different calculations or estimates of what a business interruption loss might be,” said Mortifoglio, who has been dealing with busine...

After the Storm: Disaster Plans and Backups a Must for Public Entities Even the best laid plans can go awry in a disaster. For example, when Winter Storm Uri plunged into Texas in mid-February with unprecedented extreme low temperatures, and snow and ice that lingered for far too long, even organizations that had disaster and recovery plans in place found themselves looking for “Plan B” options when those blueprints didn’t work out, says Arnie Mascali, president of Procor Solutions + Consulting, which specializes in helping clients — with a focus on public entities — with disaster p...

Brown & Brown Brings Its Wholesale Units Under Bridge Specialty Brand February 26, 2021 Global insurance broker Brown & Brown has consolidated its broad wholesale operations under one brand name, Bridge Specialty Group. As a group, the more than 25 wholesale units place more than $3 billion in premium. Wholesale brokerage total revenues for 2020 increased 13.8%, or $42.7 million, over 2019, to $352.8 million, and this accounts for about 13% of Brown & Brown’s total revenue. The firm also has its major retail insurance division as well as a services divisi...