Cyber insurance market is stalling as risk rises

Cyber Insurance - Reinsurance

Insurers are facing tighter margins and larger losses as they place a greater reliance on reinsurance. As risks rapidly rise, cyber insurance companies are watching their losses rise and their margins tighten. At the same time, insurers are placing a heavier reliance on reinsurance to mitigate their own risks. Though the coverage is becoming essential for businesses, it is dropping in appeal for insurers. For many businesses, cyber insurance is becoming harder to find. In fact, even compared to just one year ago, it’s more difficult to find affordable coverage.…

Read More

NAIC examining insurance industry impact from private equity

Insurance industry - Private Equity

A National Association of Insurance Commissioners group is reviewing recent regulatory considerations. The Macroprudential Working Group (MWG) of the National Association of Insurance Commissioners (NAIC) has announced that it is examining the impact on the insurance industry from private equity firms. The MWG recently gave its approval to a “regulatory considerations” list which it will be reviewing. Recently, The MWG gave its approval to a regulatory considerations list. That list will be a part of this new examination. The group has already left comments about it and will be continuing…

Read More

What Auto Insurance Coverage Do You Need for Your Small Business?

If you are a small business owner and you use vehicles for company purposes, then you need car insurance coverage for company cars. For companies that own cars, vans, or trucks, protecting these vehicles needs to be a priority because accidents can happen when you least expect them. Business car insurance will provide coverage for legal expenses, medical costs, and any property damage incurred.  Should one of your company vehicles be involved in an accident, and you do not have business car insurance, you and your company may face any…

Read More

Cybersecurity insurance popularity but some companies face denials

Cybersecurity insurance - Security coverage

There are a number of common reasons that are causing insurers to deny coverage to a business. While it has become clear to the majority of companies that cybersecurity insurance can provide vital protection against financial hardships caused by cybercriminals. As a result, demand for coverage has skyrocketed in recent years. Unfortunately, many interested companies have found themselves denied coverage. Despite increasing interest in cybersecurity insurance, the simultaneous rise in threats have forced insurers to be more hesitant to provide coverage. There are several common reasons that a business might…

Read More

How to make your b2b insurance start-up more successful

Establishing any sort of business in the last couple of years is a feat in itself, and achieving it in the insurance industry might be considered doubly so. It’s an important service, especially for those who target businesses, as many owners might not know how much coverage they are likely to need or maybe even that they need any coverage at all. Now you’ve got a foothold. The next question is what you do next to keep up the momentum and make the most of your successful start. That one…

Read More

Protecting Your Business: 3 Ways to Safeguard Your Company

Every industry is subject to specific regulations, runs different processes, and operates on varied morals and values. Yet, most companies are united by various risk factors that may impact their revenue, online security, reputation, and lifespan. New and experienced entrepreneurs can’t afford to ignore the threats to your business, as ignorance will not be bliss when facing a lawsuit, a substantial fine, or a cyberattack. Protect your business and read these three ways to safeguard your company. The tactics could be crucial to your company’s survival and success. 1. Purchase…

Read More

5 Smart Tips For Getting Your Small Business Loan Approved

In an ideal scenario where every business person has all of the resources they need, turning a great business concept into a massive success would be a breeze. However, as we’re all aware, this is not the case. Consequently, many small business owners turn into small business loans to support their business ventures. However, not every loan application gets approved. “Getting a small business loan application approved may be as confusing for small business owners as the tricks in a magic show. However, the process becomes a lot simpler with…

Read More