Tag: cyber insurance policy

Demand for cyber insurance rises throughout Europe

Julie Campbell
cyber insurance theft biometrics

As digital attacks and data breaches spread like wildfire, European companies are aiming to protect themselves. New legislation in the European Union with regards to data privacy is giving a considerable shot in the arm to the cyber insurance industry, say specialists in that market, particularly following some very high profile attacks on companies such as Experian and TalkTalk earlier in 2015. Last week, the E.U. agreed that its data protection laws needed to be changed from their previously fragmented state. The new laws will require companies to report data…

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Cyber insurance claims are made by 4 out of 10 companies

Julie Campbell
cyber insurance companies security mobile

A new survey has revealed that a very large percentage of businesses have filed against their policies. When it comes to business coverage, cyber insurance has been increasing quite rapidly in popularity as a results of the many high profile data breaches that have occurred over the last few years. Unfortunately, while coverage is more common, it’s also being used quite a bit by the companies that have it. While the idea behind buying a policy is usually to get it just in case, while hoping that it will never…

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Cyber insurance market continues to grow in the US

S.Vagus
cyber insurance theft id higher rates

More companies are beginning to embrace cyber insurance in order to guard against digital threats Cyber insurance is growing quickly in the United States, according to a new survey from the Council of Insurance Agents & Brokers. More companies are beginning to conduct business online, and this comes with significant risks that they may not be prepared to handle on their own. Consumer information is quite valuable, but many businesses have not had to protect digital information in any significant way in the past. As such, companies are beginning to…

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Cyber insurance coverage is very costly for health insurance

Julie Campbell
computer cyber insurance site

Following the record breaking data breaches that were suffered by several insurers, premiums are soaring. The large number of high profile data breaches that have been suffered by health insurers over the last year or so have made the cost of cyber insurance coverage skyrocket for those companies. This rise in rates has affected not only insurance companies but also retailers and banks. The reason is that those sectors have also been victims of data breaches and cyber insurance companies are seeing that it is becoming increasingly costly to cover…

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The cyber insurance market will explode to $10 billion in 5 years

G. Turner
identity theft cyber insurance

Still, the market remains primarily untapped, despite the tremendous potential it holds. It may not come as a shock to anybody that the cyber insurance marketplace is taking off and that it was recently estimated that by the year 2020, it will be worth about $10 billion, but what is shocking is the speed that it will reach in order to get there. The growth rate that it has been achieving has made it the top product in the commercial insurance sector. The forecast of the worth of the cyber…

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