Core Insights - Data loss and cyber-attacks are identified as two of the top three risks to directors and officers according to the Cyber Directors' and Officers' Survey Report by Willis [1][2] Group 1: Survey Overview - The survey included responses from various sectors, with the services sector representing 24% and finance and insurance 19%, predominantly from for-profit, private companies [2][4] - Great Britain identified cyber-attacks (excluding cyber extortion) as the top risk, while North America and the Middle East ranked data loss as their primary concern [2] Group 2: Risk Perception Changes - Despite increased awareness of cyber-attacks, the risk ranking for cyber-attacks decreased by 2% from 2024 to 2025 [3] - Adrian Ruiz emphasized the importance of a strong cyber security culture and proactive strategies to manage evolving threats [3] Group 3: Cybersecurity Practices - The frequency of board updates on cyber security improved, with only 12% updating in response to incidents, down from 20% in the previous year [6] - Monthly updates to boards increased from 18% to 28% between 2024 and 2025 [6] - 80% of respondents have implemented a cyber incident response plan, with over two-thirds having conducted an incident response exercise in the past year [6] Group 4: Preparedness and Budgeting - 65% of respondents feel well prepared to manage a cyber incident, an increase from 56% in 2024 [6] - Cyber security budgets are expected to increase in 2025, but at a lower rate than in 2024 (56% vs. 63%) [6] Group 5: Cyber Insurance - Cybersecurity risks are considered the most important aspect of directors' and officers' liability insurance coverage, with 53% of respondents having cyber insurance and 18% planning to purchase it within the next two years [6]

Core Insights - WTW has launched a new feature in Radar that significantly reduces the time required to utilize ISO updates from months to minutes, enhancing the ability of insurers to adapt to market price movements in real time [1][4][5] Company Overview - WTW is a leading global advisory, broking, and solutions company that provides data-driven, insight-led solutions in people, risk, and capital, serving clients in 140 countries [9] - Radar is an end-to-end analytics and model deployment solution specifically designed for insurers, incorporating advanced machine learning algorithms and real-time decision-making capabilities [6][7] Industry Context - Insurers require reliable access to the latest rating information to remain competitive, as time constraints can hinder their ability to adopt deviations and perform portfolio impact analyses [2] - The integration of Verisk's ISO Electronic Rating Content™ into Radar allows insurers to create ISO-based pricing models quickly, facilitating the analysis of new ISO updates and minimizing manual errors [3][4][5] Key Benefits - The new Radar functionality enables insurers to analyze the impact of ISO updates on existing portfolios and deploy rates to the market with enhanced efficiency, providing a competitive edge [4][5] - The seamless integration of ISO ERC content into Radar enhances the ratemaking process, allowing for faster and more accurate implementation of rating information [5]

Core Insights - The latest Political Risk Index by Willis indicates that rising political polarisation is linked to increased political violence and unpredictable government policies [1][2] Group 1: Affective Polarisation - Affective polarisation is at a historic high globally, with individuals increasingly viewing supporters of opposing political parties as hostile [2] - Countries experiencing violent political conflicts show the highest levels of polarisation, with democracies like the US, Germany, India, Brazil, and Bulgaria seeing the fastest increases [2][4] Group 2: Ideological and Elite Polarisation - The index also examines ideological polarisation, which reflects the extent of agreement on core policy issues, and elite polarisation, which measures how political rivals view each other as legitimate [3] - The US is unique in that it has seen rapid increases in affective, ideological, and elite polarisation over the past 15 years [3] Group 3: Historical Context and Trends - Historical data from over 200 countries shows that surges in polarisation often follow economic crises or corruption scandals, leading to the rise of populist movements and increased political violence [4] - Positive trends have been observed where truth and reconciliation processes, cross-party coalitions, and transparent investigations have led to reductions in political polarisation [4] Group 4: Business Implications - The director of political risk analytics at Willis highlights the correlation between polarisation and political violence, noting that businesses face growing challenges in increasingly polarised societies [5]

Core Insights - Zest Insurance is a new digital insurance platform launched by Willis, aimed at small and medium enterprises (SMEs) in Australia, representing a significant advancement in the digital transformation of SME insurance [1][2] - The platform is designed to provide a seamless online experience for SMEs, allowing them to purchase, manage, and renew insurance policies entirely online, addressing the evolving needs of modern business owners [2][3] Company Overview - WTW, the parent company of Willis, operates in 140 countries, providing data-driven solutions in people, risk, and capital, and aims to enhance organizational resilience and performance [6] - The Australian SME market is valued at over AUD 9 billion in gross written premium, indicating a substantial opportunity for digital insurance solutions [3][4] Product Features - Zest Insurance offers a fully digital customer journey, from insurance quotes to binding, renewal, and policy management, all conducted online [7] - The platform provides industry-specific insurance solutions, with dedicated insurers for each industry to ensure tailored coverage [7] - User-friendly design features intuitive forms and interfaces to enhance the customer experience [7] - On-demand insurance broker support is available, providing expert advice to ensure confidence and clarity for users [7] Market Context - The launch of Zest Insurance is timely, as 97% of Australian businesses have 20 or fewer employees, positioning the platform to serve a large and growing segment of the market [3] - The Australian SME insurance market has been slower to adopt digital solutions compared to global counterparts, and Zest Insurance aims to bridge this gap [3][4]

Core Insights - WTW has appointed Ryan Pischke as Growth Leader for Michigan and Ohio within its Corporate Risk & Broking segment, aiming to enhance its market presence in these regions [1][2]. Group 1: Appointment and Responsibilities - Ryan Pischke brings over two decades of experience in insurance brokerage and client advisory services, with a focus on revenue growth and strategic leadership [2][4]. - In his new role, Pischke will focus on client relationship development, talent acquisition, community engagement, and brand elevation to accelerate WTW's growth in Michigan and Ohio [2][3]. Group 2: Leadership and Collaboration - Mark Vila, Midwest Leader of CRB North America, emphasized Pischke's leadership and market insight as crucial for fostering a dynamic growth culture in these strategically important markets [3]. - Pischke will collaborate across various industry verticals and client service groups to deliver integrated solutions and enhance client experiences [3]. Group 3: Previous Experience - Prior to joining WTW, Pischke held leadership roles at Gallagher Bassett and served as President of Property and Casualty in the Central Region at USI, where he was recognized for building high-performing teams and client relationships [4]. Group 4: Company Overview - WTW provides data-driven, insight-led solutions in people, risk, and capital, leveraging global and local expertise to help organizations enhance strategy and performance [5].

Core Insights - Willis, a WTW business, has appointed Linda Fisher as the sub-vertical leader for law firms within the Financial Services and Professional Services (FIPS) industry vertical division in North America [1][2] Company Overview - Linda Fisher will be based in Chicago and will report directly to Brad Messinger, the FIPS Leader [2] - Fisher's role will focus on driving growth in the legal sector, including business development, creating intellectual capital, representing Willis at industry events, and enhancing services for law firm clients [2][3] Background of Linda Fisher - Prior to joining Willis, Fisher held significant positions at Marsh McLennan Agency, Gallagher, and Old Republic Professional, showcasing her extensive experience in the legal sector [3] - Fisher holds a B.S. degree from the University of Alabama and has RPLU and CPLP designations, indicating her qualifications and expertise [3] Leadership Commentary - Brad Messinger expressed enthusiasm about Fisher's appointment, highlighting her deep understanding of the legal landscape and her potential to enhance business within the legal sector [4]

Group 1 - WTW has appointed Farah Ismail as Senior Director, Head of Commercial Lines within its Insurance Consulting and Technology (ICT) business in North America, bringing over fifteen years of experience in commercial insurance lines [1][2] - Farah Ismail will shape and execute the go-to-market strategy for North America in the Commercial Lines space, focusing on refining pricing and underwriting strategies to enhance portfolio performance [2][3] - WTW's Insurance Consulting and Technology business aims to innovate and transform the insurance industry by providing advisory services and advanced technology solutions to help clients manage risk and capital effectively [3][4] Group 2 - WTW operates globally, serving clients in 140 countries and markets, and aims to uncover opportunities for sustainable success while enhancing organizational resilience and performance [4]

Core Insights - WTW has appointed Scott Van Slyck as Senior Director of Technology Sales and Kate Gingras as Director of Strategy Execution in its Insurance Consulting and Technology (ICT) business [1] - Van Slyck brings over 20 years of experience in enterprise software and Insurtech sales, having previously worked at companies like SunGard and Bolttech [2] - Gingras has over 20 years of experience in driving growth and operational performance in enterprise software and insurance markets, working with major insurers globally [4] Company Strategy - Van Slyck will lead the Americas Technology Sales team, focusing on client outreach and expanding WTW's technology footprint [3] - Gingras will align strategy, business, and operations to further the growth of the ICT business, working closely with consulting and technology leaders [5] - The appointments aim to enhance WTW's technology sales ambitions and deliver innovative solutions to the market [4][6] Industry Position - WTW's ICT business serves the insurance industry with a combination of advisory services and technology, aiming to innovate and transform insurance [6] - The company works with over 1,000 client companies globally, including leading insurance groups, and has a presence in 35 markets with over 1,700 colleagues [7] - WTW provides data-driven solutions in people, risk, and capital, helping organizations sharpen their strategy and enhance performance [8]

More companies expanding choice, tackling high cost and reallocating benefit spendNEW YORK, June 10, 2025 (GLOBE NEWSWIRE) -- As U.S. employers grapple with heightened economic uncertainty and greater financial pressures on budgets, steering the right course on benefit strategy is more challenging than ever. This is according to a survey by WTW (NASDAQ: WTW), a leading global advisory, broking and solutions company. As a result, companies are turning to smarter spending, sharper focus and using benefits as ...

Core Insights - U.S. commercial insurance rates increased by 5.3% in Q1 2025, continuing a downward trend compared to the previous two quarters which saw increases of 5.8% and 5.6% respectively [1][2] - The aggregate price increase of 5.3% in Q1 2025 is lower than the 6.3% recorded in Q1 2024, indicating a year-over-year decline in rate increases [1][2] Pricing Trends - Commercial Auto insurance maintained a double-digit increase, although it was lower than the previous quarter, while Commercial Property exhibited a strong downward pricing trend with only a slight increase compared to the double-digit increase a year prior [2][3] - Professional Liability rates showed a higher increase this quarter but remain relatively low compared to most other lines [2] Market Commentary - The reduction in rate increases is viewed as a positive sign for buyers, although persistent double-digit rate increases in areas like Commercial Auto indicate ongoing pricing challenges in the market [3] - Excess/Umbrella Liability is another coverage area that continues to see double-digit rate increases [3] Survey Methodology - The Commercial Lines Insurance Pricing Survey (CLIPS) is based on new and renewal business figures from carriers, representing a cross-section of U.S. Property & Casualty insurers, including many of the top ten commercial lines companies [5] - For the latest survey, 41 participating insurers contributed data, representing approximately 20% of the U.S. commercial insurance market [5]