Live Insurance News

Cyber insurance is lacking

April 8, 2015April 6, 2015 S.Vagus

AIG CEO expresses concern that cyber insurance capacity is falling short Cyber insurance capacity may be seriously lacking, according to American International Group CEO Peter Hancock. Digital threats are becoming more prominent with every passing year. Hackers and malicious groups are beginning to target large companies that have access to valuable consumer information. This information can be stolen and exploited for various types of benefits, leaving consumers to deal with the financial fallout associated with data breach and identity theft. Cyber protection remains somewhat rare, but the market is growing…

AIG CEO says that cyber insurance has a “very small” capacity

April 7, 2015April 5, 2015 Julie Campbell

Peter D. Hancock recently spoke, saying that this coverage is lagging behind what other forms of protection offer. The chief executive officer of American International Group, Peter D. Hancock, has stated that when it comes to cyber insurance, the coverage has fallen behind the type of protection that is available through other types of policy. Hancock expressed his opinions about this coverage against cyberattacks while speaking at a recent event. While talking at New York University, Hancock expressed that “The largest coverage I’m aware of is for a bank that…

Insurance news from AIG could protect companies from celebrity antics

February 17, 2015February 14, 2015 Julie Campbell

AIG Insurance company CEO - Building in Manhattan

The insurer has now released a type of coverage meant to protect stars against liabilities from endorsement deals. AIG has announced some of its latest insurance news, which has come in the form of a policy that has been designed to help to protect companies from the losses from a harmed reputation as a result of a celebrity endorser that has taken a wrong turn and has done something that could bring embarrassment, shame, or other damage to the company’s standing. The policies have limits that will protect companies for…

Insurance industry now equipped to deal with celebrities

February 2, 2015January 31, 2015 S.Vagus

Celebrity behavior could cause endorsement deals to collapse, but the insurance industry is prepared Celebrities can be a costly investment. The behavior of celebrities is often headline-worthy news, as these people can often be very eccentric and unbridled. This can cause trouble for brands that endorse these celebrities, however, and the behavior of celebrities can cause unexpected damage to a company that supports them. Such was the case with Michael Phelps, the most decorated Olympian of all time, when his antics caused his endorsement deals with several companies to collapse.…

Crashed Virgin Galactic spaceship had $40 to $50 million in insurance coverage

November 6, 2014November 4, 2014 Julie Campbell

Virgin Galactic Space Tourism insurance coverage

The primary underwriter that will be responsible for the payouts is going to be AIG. The disaster that occurred on Friday when the Virgin Galactic spaceship crashed has approximately $40 to $50 million in insurance coverage, and the main insurer that is going to be responsible for those payments is reported to be AIG. This, according to the broker on the deal, Jardine Lloyd Thompson, a British brokerage and insurance services provider. At the time that this article was written, AIG declined the opportunity to comment on this insurance coverage.…