Cyber insurance growth has declined as the industry struck $2 billion last year

Cyber insurnce growth - binary - cyber - tech

Fitch Ratings data showed that the market’s growth fell from 37 percent in 2017 to 8 percent in 2018. Cyber insurance growth has continued to rise at a healthy rate, but according to Fitch Ratings, it is not growing at a rate anywhere near what it was in 2017. In 2018, the insurance industry’s total direct written premiums for cyber coverage grew by 8 percent. According to Fitch Ratings, the total direct written premiums saw a cyber insurance growth rate was 37 percent in 2017. However, despite the fact that…

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Verifacto Welcomes Leland Brewer as Director of Business Development

Norcross, GA, May 17, 2019 –(– Verifacto, a leader in providing cloud-based software that enables auto dealers and lenders to effectively track their customers’ auto insurance status, is pleased to announce the hiring of Leland Brewer as Director of Business Development. Brewer will help to drive the sales, marketing, partnership alliances and growth strategies of the company. “We are thrilled to have Leland join the Verifacto team,” said Hezi Moore, President and CEO of Verifacto, Inc. “Leland is passionate about the auto finance industry and has a rich history of…

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CNA Hardy Announces a New Pre-Breach Service Provided by GamaSec

New York, NY, May 17, 2019 –(– CNA Hardy, a leading specialist commercial insurance provider for clients within the Lloyd’s and company markets, is pleased to announce significant enhancements to its Cyber proposition with a new pre-breach service and vital additional coverages. David Legassick, Head of Cyber, Tech & Life Science said: “Our latest cyber proposition reflects the changing risk environment. Technology adoption creates new exposures, and cyber criminals are becoming more sophisticated. "In response, our Policy has been updated and now includes Impersonation Fraud/Social Engineering, which is one of…

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Georgia insurance commissioner indicted in alleged $2 million fraud case

Georgia Insurance Commissioner - Dangling money

The U.S. attorney’s office described the case and the allegations against Jim Beck. Earlier this week, the United States attorney’s office laid out what it called a $2 million fraud case which involves Georgia Insurance Commissioner Jim Beck. The commissioner’s attorney entered into negotiations regarding when and how Beck would turn himself in. The Georgia insurance commissioner is the target of a 38 count indictment. It accuses Beck of widespread fraud regarding work he did for the Georgia Underwriting Association (G.U.A.). The alleged fraudulent activities all occurred before Beck was…

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POWERS Insurance & Risk Management Announces New Private Client Division

St. Louis, MO, May 16, 2019 –(– POWERS Insurance & Risk Management, one of the largest family owned and operated independent insurance agencies in St. Louis, recently announced the addition of its Private Client Division. Personal Risk Advisor Meaghan Dowd will lead the new division, which is part of the firm’s Emerging Risks Division program, as well as oversee a team of three of the company’s personal lines specialists. Dowd was one of the first 500 professionals in the insurance industry to earn the Chartered Private Risk and Insurance Advisor…

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ShelterPoint CEO Richard White Helped Raise Over $560,000 for the College of Mount Saint Vincent

Garden City, NY, May 15, 2019 –(– Industry leaders Richard White, CEO of ShelterPoint Life Insurance Company (ShelterPoint) and Mary Griffin, President and CEO of the Life Insurance Council of New York (LICONY), together with over 400 valued clients, partners, employees and friends in a virtual "who’s who" in the insurance industry, raised over $560,000 at a tribute scholarship dinner on Wednesday, May 1, 2019, for the College of Mount Saint Vincent’s scholarship and financial aid initiatives. A program close to Richard White’s heart is the College’s Mott Street Scholarship…

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Maryland to let residents complete health insurance enrollment on tax forms

Health insurance enrollment - Income Tax - Filing Taxes

Governor Larry Hogan signed the first measure in the country to provide this opportunity. Maryland has become the first state in the country to make it possible for residents to complete a health insurance enrollment at the same time that they file their taxes. The governor signed the bill on Monday, making it possible for tax forms to double as insurance applications. The new bill lets residents use their tax forms for the opportunity to complete their health insurance enrollment as well. When Governor Hogan signed the bill, it made…

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