1. Cyber policy encryption needs to be industry standard – CFC

CFC recently launched an encryption service for its cyber insurance policies, the first of its kind within the industry, but the MGA does not want to hold onto a monopoly.

Rather than revel in the novel qualities of the encryption service, CFC cyber development leader Lindsey Nelson (pictured) and her team are hoping that this development will resonate with other insurance organizations and compel them to follow suit.

2. Hub continues M&A spree

Global brokerage Hub International Limited has announced that it has acquired the assets of Montana-based Glacier Insurance of Libby. The terms of the transaction were not disclosed.

Glacier Insurance of Libby is a full-service independent agency that provides commercial and personal insurance to clients in Montana, Idaho and Washington state. Agency owners Kevin Peck and Kim Peck and their team will join Hub Mountain.

3. WBN announces new members

The Worldwide Broker Network (WBN), the world’s largest global network of independent insurance and benefits brokers, has announced the addition of four new members, two new sponsors, and the expansion of an existing member.

4. Congress members' personal data exposed in DC Health Link Breach

Members of Congress may have had their personal data exposed in the dark web following a massive hit to health insurance marketplace DC Health Link.

A letter penned by House Speaker Kevin McCarthy and Minority Leader Hakeem Jeffries warned that the impact of the breach “could be extraordinary,” placing lawmakers, their employees, and families at risk of identity theft, financial crimes, and physical threats.

5. What’s fueling innovation in insurance?

The pace of innovation in insurance and the inevitable question this gives rise to – whether insurance is innovating fast enough – were two topics very much under the microscope at Insurtech Insights Europe 2023...