Cyber insurance now available from Chubb

Cyber Insurance

The company has acknowledged the growing need for coverage and is now selling to business customers. If there is anything that can be agreed upon by virtually every business that uses a computer (are there any out there that don’t have at least one?), it is that the threat of a data breach or of being hacked and having information is high, and that cyber insurance could provide some protection. With this knowledge, and the increasing popularity of the coverage, Chubb has jumped on the bandwagon and is selling. Data…

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Insurance news doesn’t look good for Canadian Olympic hockey team

insurance news Team Canada hockey Olympics

Team Canada has been kept off the orientation camp ice due to the prohibitive cost of insuring its players. Steve Yzerman, the executive director of the national men’s hockey team for Canada that is headed to the Sochi Olympics, has announced the insurance news that the coverage for the players was too costly for them to be able to take part in their orientation camp. Though he said that he’d like to have had the players practice, the costs were too high to make that happen. The four day orientation…

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Insurance news regarding Iranian oil imports moves forward in India

iran oil international insurance news

HPCL has announced that it will begin importing crude from Iran when the coverage issue is resolved. The State owned Hindustan Petroleum Corp Ltd (HPCL) has made insurance news headlines by announcing that it will begin importing one million tons of Iranian crude during this fiscal year, provided that the coverage issues for processing that company’s oil are resolved. This will represent a contract that is only half of what it was last year, but it is far more than the current standstill. HPCL, like a number of other refiners…

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Insurance news from India shows ongoing consideration of Iranian oil coverage

india news iran crude oil insurance

Insurers from Iran have offered to provide cover for tankers transporting that country’s crude. The latest in the insurance news saga regarding Iranian oil tanker coverage, particularly when it is headed to India, is that Iran is offering to provide the coverage for the ships so that Indian companies will be able to accept it. However, the Indian companies still hold some reluctance as they do not want to expose themselves to sanctions. India has been considering adding an additional state guarantee of $327 million to this insurance news, to…

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Cyber insurance experiencing sudden boom from businesses

Cyber Insurance industry popularity

Hotels, banks, educational institutions, and companies are purchasing the coverage in droves. Although less than a decade ago the majority of businesses felt that the idea of cyber insurance was ridiculous, as they believed that they had strong security for their networks and expert IT professionals to keep them safe, that story has changed considerably in a short time. After a number of high profile data breaches, companies are starting to realize that they are not as safe as they once thought. In fact, cyber insurance has become particularly popular…

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