Aon highlights persistent challenges in 4 insurance sectors | Sen. Wyden: Crypto policy shouldn't stifle innovation | US Treasury tells banks to watch for sanctions evasion
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[] Risk Management and Insurance
[] [Aon highlights persistent challenges in 4 insurance sectors](
"Challenging" or "very challenging" conditions continue to face the casualty and liability, cyberinsurance, property, and employers liability and workers' compensation sectors, Aon says in a report. Greater stability is likely for the casualty and liability market, but current conditions are likely to persist for the other three sectors, the report says. Full Story: [Reinsurance News]( (3/2)
[LinkedIn]( [Twitter]( [Facebook]( [Email]( [] [Sen. Wyden: Crypto policy shouldn't stifle innovation](
Senate Finance Committee chair Ron Wyden, D-Ore., is urging the committee not to stifle innovation when setting regulations on the crypto industry to curb fraud and money laundering. "There is obviously a debate [about stricter regulation] but I want to be on the side of the innovator," says Wyden. Full Story: [Financial Times (subscription required)]( (3/7)
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[US Treasury tells banks to watch for sanctions evasion]( Financial Times (subscription required) (3/7)
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[Correlation seen between overdrafts and BNPL use]( Morning Consult (3/2)
[] Cybersecurity
[] [Banks eye use of quantum-resistant encryption](
Barclays, JPMorgan Chase and Societe Generale plan to adopt new encryption algorithms to curb the threat from quantum computing as soon as the Commerce Department approves its new cryptography standards. At issue is the need for new quantum-resistant algorithms, since current cryptography is expected to become obsolete as quantum computing advances over the next five years. Full Story: [Risk (subscription required)]( (3/1)
[LinkedIn]( [Twitter]( [Facebook]( [Email]( [] Government Regulation
[] [Biden reportedly to order study of digital assets](
President Joe Biden is expected to sign an executive order requiring federal agencies to explore national security and economic implications of digital assets, including a central bank digital currency, as well as regulatory changes that might be needed, sources say. The order reportedly mandates a series of reports on the role of cryptocurrencies and "the future of money." Full Story: [Reuters]( (3/8), [BNN Bloomberg (Canada)]( (3/7), [The Wall Street Journal]( (3/9)
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[Market participants puzzled by state Libor legacy laws]( Practice Insight (3/7)
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[FDIC official: CRA revamp proposal to be released soon]( American Banker (3/7)
[] Innovation
[] [Banks and fintech startups joining forces](
Banks are looking to work more closely with fintech startups as they recognize it's less costly than investing in their own technology, according to columnist Mary Ann Azevedo. Fintechs are learning from banks and financial institutions are aligning with fintechs to remain competitive. Full Story: [TechCrunch (tiered subscription model)]( (3/6)
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The Aon Financial Institutions Practice develops risk transfer and consulting solutions for a wide range of businesses including banks, insurance companies, asset managers and diversified investment and finance firms. Our experts draw on deep experience in developing products involving management and professional liability, property and casualty, cyber, operational and enterprise risk management, environmental liability, employee benefits, and transactional solutions. These solutions help clients build a tailored risk management program that empowers results for their organizations. Contact Aon
Joel Sulkes
Aon Global Financial Institutions Practice Leader
t 212-441-2364
joel.sulkes@aon.com
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