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Industry Roundup: July 15, 2021

​Liberty Mutual Agrees to Buy State A​​uto In $2.29 Billion DealLiberty Mutual Holding Co. agreed to buy State Auto Financial Corp. for about $2.29 billion in cash, adding roughly 3,400 independent agencies in 33 U.S. states. Liberty Mutual is owned by its policyholders and is one of the more acquisitive insurers with that structure. How Insurance Agencies​​ Find Sales Talent in Small MarketsSmall markets pose a unique challenge for agencies looking to grow. You have more options than just the “born and bred" hometown producer, including newbies, out-of-industry converts and returning home stories. Learn some strategies that may help.Premium Finance:  Is thi​​s the next great…

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WHAT HAPPENED WITH THE KASEYA HACK?

​​​A guest post by Walter Contreras of Motiva​The biggest global ransomware attack yet continued to bite Monday as details emerged on how the Russia-linked gang responsible breached the company whose software was the conduit. In essence, the criminals used a tool that helps protect against malware to spread it widely.An affiliate of the notorious REvil gang, infected thousands of victims in at least 17 countries on Friday, largely through firms that remotely manage IT infrastructure for multiple customers, cybersecurity researchers said.REvil was demanding ransoms of up to $5 million. But late Sunday it offered in a posting on its dark web site a universal decryptor software…

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Industry Roundup: July 9, 2021

​Some in Congre​​ss Push for Delay of Risk Rating 2.0In recent months, several members of Congress have expressed concern with FEMA's implementation of Risk Rating 2.0, and in some cases have gone so far as to push for a delay of the program's implementation. Risk Rating 2.0 is FEMA's new pricing methodology for the National Flood Insurance Program (NFIP). It is currently scheduled to be implemented starting on Oct. 1 for new policies and for those seeking to renew policies that will see lower rates under Risk Rating 2.0. It will be implemented for all other renewals starting in April 2022.Autonomous Vehicles: When Will They…

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