Live Insurance News

Is Cyber Insurance Really Necessary?

June 28, 2014June 27, 2014 Note From The Editor

Society is becoming more integrated with technology and that is exposing businesses to new threats that they may not be prepared to deal with. Cyber insurance is designed to be a type of protection against these threats, but many businesses have yet to fully embrace this protection. Large companies tend to have cyber liability policies in force, but smaller companies do not typically see this type of coverage as necessary, mostly due to the misconception that they are not high value targets. High profile cyber attacks are often highlighted in…

Cyber insurance is making it onto more company shopping lists

June 24, 2014June 21, 2014 H. Cutner

As a growing number of hackers make recent news headlines, businesses are no longer comfortable without coverage. At the same time that it has become clear that even the most sophisticated data systems among the leading high profile companies can still be broken into by skilled hackers, the cost of those attacks is becoming increasingly clear to businesses of all sizes and they are beginning to purchase cyber insurance at an increasing rate in order to cover themselves against potentially devastating damage. This special form of risk and liability insurance…

Cyber liability insurance interest spikes following major data breaches

February 20, 2014February 25, 2014 Julie Campbell

Recent news headlines from large trusted companies such as Target and Kickstarter have caused serious worry. With a steady stream of data breaches at major corporations continually making recent news, the need for cyber liability insurance has become much clearer and companies are starting to take action by buying at a higher rate than they have done in the recent past. Businesses are starting to realize that nobody is really safe against a determined online criminal. Target recently revealed that hackers had broken into their files and had stolen the…

Cyber insurance now available from Chubb

August 30, 2013August 27, 2013 Julie Campbell

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…

Cyber insurance experiencing sudden boom from businesses

July 31, 2013July 29, 2013 G. Turner

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…