The latest salvo has come from Marsh USA, which filed a complaint in US District Court in Manhattan against four of its former senior Florida executives. The lawsuit alleges that Michael Parrish, Giselle Lugones, Robert Lynn, and Julie Layton covertly conspired with London-based Howden to rapidly launch its US operations, bringing over more than 100 Marsh employees in a sweeping defection.
This was partially offset by lower transaction costs compared to the previous year, reduced expense from the Accelerating Aon United program, and $35 million in net restructuring savings. Risk Capital operating expenses rose $136 million, or 7%, to $2.0 billion, while Human Capital operating expenses grew $139 million, or 13%, to $1.2 billion.
Geopolitical instability, economic volatility, supply chain disruptions, and cyber risks top the list of client concerns, according to Hyatt. But the difficulty, she said, is less about covering known risks and more about anticipating the ones clients “don’t see coming,” particularly at the intersection of different risk categories. Cyber risk is a prime example, with threats becoming more sophisticated and operating across borders.
The dispute centred on PPI policies that were underwritten by Genworth units – acquired by AXA in 2015 – and sold through GE Capital Bank, a business later purchased by Santander in 2009. At the heart of the matter were more than 650,000 customer complaints concerning PPI products, which have become emblematic of Britain’s most costly retail financial scandal, with total industry compensation surpassing £40 billion.
Is it a nice to have or an essential? In the latest edition of the Big Question series, experts from Brit Insurance, WTW Networks, Beazley, DUAL UK, Coalition, AXA, CFC, Crawford & Company and Aon look at cyber insurance, whether it’s broken into the mainstream, and what more can be done to lift it status.
The Madrid-based insurer reported premiums of nearly €16 billion, up 5.3% from the same period in 2024. However, currency fluctuations significantly impacted growth figures, with the depreciation of major currencies including the Brazilian real, US dollar, Turkish lira, and Mexican peso. At constant exchange rates, premium growth would have reached 10.2%, the company noted in a statement.
According to researchers from Eye Security and the Shadowserver Foundation, attackers exploited a previously unknown flaw – a so-called “zero-day” – to gain unauthenticated access to vulnerable SharePoint servers. This allowed them to execute arbitrary code, impersonate services, steal credentials, and install persistent backdoors.
Trade credit insurance has become a critical risk management tool, especially in today’s uncertain trading environment. With increased insolvencies, tighter credit conditions, and evolving geopolitical risks, more businesses are looking to insure their receivables and protect cash flow.
These so-called hybrid threats include cyber intrusions, physical sabotage, and digital disinformation, often carried out through proxies or loosely affiliated criminal networks. In one high-profile incident, three British men were convicted last week of firebombing an aid storage facility in east London – an act the court linked to the Wagner Group, Russia’s notorious paramilitary outfit.
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