4 Operational Risks to Keep an Eye On
A lot happens in between newsletters—don’t miss our coverage of these trending topics.
Following a 2020 focused on digital innovation and social reforms, the media has begun to focus on risks that are internal to a company’s culture and operations.
Here are four headline-making topics that we’ve covered specifically for the insurance community.
- Freedom of Expression: The 2020 Olympics are about to begin (read more about it here: The 2020 Olympics in 2021) and the International Olympic Committee has been highly criticized for not allowing athletes to promote social and political causes during the games. Those causes are also being discussed in the workplace to create a more inclusive culture. Here’s some advice as to How to Have Inclusive Conversations at Work.
- In-Office vs. Remote Working: After more than a year working from home, many employees say they would rather continue that trend, while employers are eager to go back to normal. This is causing a large wave of resignations across the U.S. How are you dealing with your workforce? Read about changes in the workforce in Looking Back to Find a Way Forward.
- Cyber Risks: As the Fourth of July weekend was underway, hackers targeted U.S.-based information technology firm Kaseya, causing between 800 and 1,500 businesses globally to be affected, in exchange for a $70 million ransom. Check out Ripple Effects of Cyber Attacks.
- Special Purpose Acquisition Companies (SPACs): SPACs have become the new norm for startup firms to go public; however, SPACs are facing skyrocketing premiums for directors’ and officers’ liability coverage due to the higher risk of litigation and increased regulatory scrutiny. We delve into these new investment tools in SPACs Join Insurance M&A.
The Latest in Broker M&A
Looking for recent M&A action? Here are the latest deals from our industry Ticker!
- Hub International Limited has acquired the assets of Texas-based The Ward Agency, which provides comprehensive employee benefits, retirement programs, and individual health and life insurance plans (July 6)
- Allianz has completed its $535 million deal to acquire the general insurance business of Australian bank and financial services firm Westpac (July 2)
- Private equity-backed Jensten Group has acquired independent broking and MGA operation The Tasker Group (June 30)
- AssuredPartners has completed its 21st acquisition of 2021 by purchasing California-based Goodman Insurance (June 23)