Industry News

​Manufacturers are Now Hackers' Favorite TargetsManufacturing was the industry most targeted by hackers during 2021, accounting for 23.2% of incidents, according to IBM Security X-Force research. The sector edged out insurance and financial services by a slim margin.Cyber Market Primed to Grow and Eclipse Property by 2040: Gallagher ReFollowing a pause to stabilize the vessel, the cyber market is poised for a wave of growth that could make it larger than the property catastrophe market by 2040, said Gallagher Re.Agency's Specialty Portfolio Often Fragmented by Working with Multiple CarriersThe Hanover Insurance Group recently released its State of Specialty Insurance Report, which highlights the risks of…

​Rating Upgrades Increase for U.S. P/C Insurers in 2021Ratings for the U.S. property/casualty industry returned to pre-pandemic levels with some companies strengthening balance sheets and improving operating results, said financial strength rating agency AM Best.Insurer Sues Real Estate Firm for Workers' Comp FraudAn insurance company is suing a New York real estate firm for allegedly ducking nearly $1.5 million in workers' compensation premiums.Allstate Auto Lines Suffer as Inflation Boosts 'All the Costs'Allstate Corp. results missed estimates for the second quarter in a row as the highest inflation in 40 years drives up the costs of insuring and repairing automobiles.How Champlain Towers Could Impact Condo Insurance…

​​Cyberattacks Increasingly Hobble Pandemic-Weary U.S. SchoolsCyberattacks have become a growing threat to schools in the United States, with several high-profile incidents reported in the last year.Toxic Culture Top Reason for TurnoverFor companies who are seeing an inordinate number of employees exit the organization, the biggest reason might be a toxic culture.Breaking Down COVID's Impact on Workers' CompCOVID-19 claims accounted for 11% of all workers' comp claims reported in 2020, but were only associated with 3.5% of total workers' comp incurred losses, according to a recent report that examined data from 45 states.Few Employers Plan to Drop Vaccine MandatesMore than one-third of U.S. employers still plan to…