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February 17, 2022

Small Commercial Strategy Session

What: Small Commercial is a big win for carriers that get it right, and a huge problem for ones that don’t. Join our virtual strategy session to learn from leading agents, insurtechs, and distribution partners. Hear what’s working for others and what’s happening in the space, so you are better equipped to deliver a roadmap that is safe, fast, and effective.

When: February 24th, 1:00 – 2:30 PM CT

Key Risks

Is Cyber Risk the Biggest Risk Facing Insurance in 2022?

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What: A recent survey of over 2,500 business risk experts revealed that the risk they’re most concerned with is cyber risk, beating out the pandemic, business interruption, and natural catastrophes. 

Why it matters: Cyber is an evolving threat — cyber criminals are hard at work finding new exploits, making it difficult to predict what they might come up with next. This results in a lot of uncertainty around cyber and it makes sense that risk experts are most concerned about it. 

Read: Allianz Risk Barometer | AGCS

Cryptocurrency and NFTs

Almost $70 Million for an NFT? How do you Insure That?

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What: The first non-fungible token (NFT) sold by world-famous Christie’s went for $69,346,250.00. With NFTs now looking like the next big thing in the fine art world, insurers need to figure out how to insure this new type of asset. The trouble is that the fluctuations inherent in the crypto market make converting the value to a stable currency difficult, and the other risks associated with NFTs do not naturally fit into existing insurance policies. 

Why it matters: Insuring an NFT means there are at least two risks being insured for a single item: the underlying currency value and the digital asset. The insuring of digital assets is something insurance can do quite well, but finance might be better positioned to hedge against the devaluation of the underlying cryptocurrency.

Read: How can we insure NFTs?

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