Reading Time: 3 Minutes The LION Lloyd's Program for US Insurance Operations Standard insurance policies aren't written for claims. They're written for arguments. Most FI policies run 150-200 pages of deliberate ambiguity - language designed so lawyers can debate meanings, not so coverage responds clearly. We've reviewed hundreds of these policies over two decades. The pattern is consistent: critical terms buried in endorsements, exclusions that contradict coverage grants, and provisions that...
5 days ago • 4 min read
Reading time: 5 minutes Your Friday Five Every week we distill 200+ insurance, legal, and market-risk articles into signals your board needs to know. Three that caught our attention this week: Florida's insurance commissioner filed bills that will require humans in the loop for carriers using AI to decide claim denials. We summarized the best podcast of the past 30 days in our space from Lowenstein Sandle on New York courts raising the bar for claims handling documentation. Manulife committed...
10 days ago • 4 min read
Your Friday Five We'll keep this short. Heading into the weekend, we wanted to say thank you. This week marks our 85th straight week of writing these Boardroom Briefings. Many of you have been with us since the beginning, when we were still finding our footing. Now there’s nearly 2,500 insurance and financial services professionals reading weekly. It’s humbling, to say the least. Since the beginning, we’ve had one mission: to be valuable. We know you’re busy. We know you don't have time to...
17 days ago • 2 min read
Reading time: 8 minutes Every week we distill 200+ insurance, legal, and market-risk articles into signals your board needs to know. This week, we’re breaking format. We’ve seen thousands of breaches, but we’ve never seen anything like the Salt Typhoon / Anthropic event. It fundamentally shifts the battlefield from ‘keeping data in’ to ‘keeping robots out’—and you need to know how to defend against it. Cutting to the chase, your insurance isn’t ready for this new era of cyber risk! The...
24 days ago • 7 min read
Reading time: 5 minutes Your Friday Five Every Friday we distill 200+ insurance, legal, and market-risk articles into three signals your board may need for its Monday briefing. Three developments caught our attention this week: The Reciprocal boom accelerates with 27 new exchanges in cat zones - premium volume jumped 83% in two years NYDFS just fined 8 insurers who let hackers steal data through basic quote tools How Financial Lines underwriters evaluate Reciprocal risk profiles (and the...
about 1 month ago • 5 min read
Reading time: 5 Minutes Part 2: How a "Cyber Hurricane" Breaks the Insurance Model in 24 Hours In 2017, the NotPetya ransomware attack caused an estimated $10 billion in global damages. It was a digital shockwave. It hit shipping giant Maersk ($300M in losses), FedEx ($300M), and countless others, all at once. For the insurance industry, it was the first tremor of a seismic shift. Carriers who had written "silent cyber" (property or liability policies that didn't explicitly exclude cyber)...
about 1 month ago • 4 min read
Reading time: 5 minutes Your Friday Five Every Friday we distill 200+ insurance, legal, and market-risk articles into three signals your board may need for its Monday briefing. Three developments caught our attention this week: New York regulators just made boards personally accountable for vendor cyber failures with enforcement action promised. SEC fines for "AI Washing" are here, and settlements are hitting $56 million. The Elephant in the (Server) Room: A Candid Conversation about a...
about 1 month ago • 6 min read
Reading time: 4 minutes The Elephant in the (Server) Room - an unfiltered conversation about systemic cyber risk So, here's what nobody in insurance is talking about: your biggest cyber risk isn't your own network. It's your portfolio. It's the risk you're getting paid for, not the one you're trying to prevent. It's as much of an underwriting philosophy issue as it is an IT issue. What follows is an unfiltered conversation I had recently with the CFO of a regional P&C insurer. (These are...
about 1 month ago • 3 min read
Reading time: 5 minutes Your Friday Five Every Friday we distill 200+ insurance, legal, and market-risk articles into three signals your board may need for its Monday briefing. Three developments caught our attention this week: Specialty MGAs now control the innovation pipeline for niche risks. Their $22 billion in premium drives the market, though carrier relationships require strategic evaluation. Premium increases hit their lowest point since 2017, signaling buyer leverage. Why the LION...
about 2 months ago • 7 min read