Economic Impact of Government Shutdown - The U.S. government shutdown is causing delays in key economic data, including the September jobs report, which is expected to heighten volatility and reinforce the Federal Reserve's data-dependency dilemma [2][5] - U.S. employers added only 22,000 jobs in August, with the unemployment rate rising to 4.3%, the highest since 2021, indicating a cooling labor market [1][3] Business Confidence and Planning - Businesses rely on official data for hiring, investment, and pricing decisions; the shutdown-induced data blackout undermines confidence and increases planning risk [3][5] - CFOs are advised to prioritize agility in scenario planning to prepare for market volatility and disruptions to federal contracts and operations [5] Employment Trends - In August, employers announced 85,979 job cuts, the highest total for that month since 2020, reflecting a challenging employment landscape [3] - ADP reported a decline of 32,000 jobs in the private sector for September, marking the first back-to-back monthly job losses since 2020 [4] Market Activity - E*TRADE reported that clients were net buyers across all 11 S&P 500 sectors in September, with consumer staples, utilities, and consumer discretionary sectors showing significant net buying activity [8][9] - Despite the defensive appearance of some buying activity, significant investments were made in nuclear power stocks and megacap stocks in the consumer discretionary sector [9] Risk Management Insights - Aon's Global Risk Management Survey indicates a rise in geopolitical volatility risks, now among the top 10 global risks, alongside cyber attacks and economic slowdown [11][12] - Only 14% of organizations track their exposure to the top 10 risks, highlighting a gap in risk management practices [12]

Group 1 - Markel Insurance has launched a new cyber insurance product that provides coverage of up to US$5 million for indirect losses resulting from acts of war [1][3][5] - The product addresses the growing concern of cyber risks, particularly for large organizations in critical sectors, as state-sponsored cyber threats are increasing in frequency and severity [2][6] - This new offering is designed as a wrap-around solution for corporate clients with existing cyber insurance policies, allowing them to cover gaps in war-related exclusions [4][6] Group 2 - The new product is part of Markel's response to the evolving needs of clients who require coverage for the indirect impacts of war on their cyber insurance [6][7] - Markel has allocated a fixed aggregate limit specifically for this product, indicating a commitment to addressing these emerging risks in the insurance market [5][7] - The initial limit of coverage is set at US$5 million per risk, with the potential for future expansion based on market demand [5][7]