Drones industry at risk from pilots, cyber-attacks
Cyber-attacks, reckless pilots and privacy breaches are fundamental threats to the drone industry, warns a new report published by Lloyd’s. The report, Drones Takes Flight, warns that privacy infringement has the potential to be the biggest risk to the growing sector. Careless pilots of the unmanned aircraft and cyber-attacks are also high on the risk list. Regulation is also a concern, especially in the absence of an international standards.
Effective airspace control and collision avoidance technology, the report contends, will be key requirements for the insurance of drones operating in busy airspace. As a result, insurers are likely to seek greater risk mitigation measures from drone operators. These could include training and accreditation, strengthening cyber security and the completion of privacy impact assessments.
Breaking Bad actor to educate millennials on insurance
The National Association of Insurance Commissioners has announced a new partnership with actor RJ Mitte of the hit television series "Breaking Bad" as part of its Insure U consumer education campaign. A series of videos will highlight Mitte's own "Bad Breaks" that taught him first hand the importance of insurance education. Together, the NAIC and Mitte encourage millennials to get informed about insurance options. Mitte's grandfather owned an insurance company, so he was taught early on about the importance of planning ahead for life's unexpected mishaps and having cerebral palsy has meant regular engagement with health insurers.
Chinese groups bid for Israeli insurance company
One of Israel’s largest non-life insurance companies has received four bids from Chinese groups. The non-binding bids are for the 55 per cent controlling interest in the insurer, currently held by IDB Development. Local media company Globes says it believes the bids have come from Tianan Insurance and JT Capital; XIO; Macrolink Group; and Minsheng Insurance.
This behavior led to 10 per cent hike in auto premiums
Sending text messages while driving has been blamed for a 10 per cent rise in motor insurance premiums in the UK. Insurer Admiral says that texting at the wheel has increased accidents and it looks like the issue is only going to get worse. A recent survey by AA Insurance found that among 18-24 year olds 16 per cent think that texting while driving is acceptable while in slow moving traffic. Admiral says that premiums are also rising as cheaper gas prices are putting more people on the roads and incidents of whiplash are increasing.
