Live Insurance News

Cyber insurance gains a boost after high profile attacks

April 2, 2014March 31, 2014 Logan B.

High profile attacks in 2013 draw more attention to cyber protection The attack against Target during the 2013 holiday season had dealt a powerful blow to the retailer, but it served as an opportunity for insurance companies that offer protection against such attacks. The attack against Target highlighted the dangers that exist in the digital world and the fact that even large companies have blind spots when it comes to matters of security. Cyber insurance can provide a safety net in the event of such attacks, and the high profile…

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 liability insurance gains popularity outside of corporations

February 18, 2014February 15, 2014 Julie Campbell

Other types of organizations, including school boards, are now investing in the coverage. Following the latest tremendous data breach – the one that struck Target and that gave hackers access to the consumer debit and credit card account information from about 40 million people – a growing range of types of organizations are looking into cyber liability insurance and the type of coverage that it can provide them. Ann Arbor Public Schools is the latest to join this flood of non-retail groups that are covering themselves. While Target fights to…

Cyber insurance sales boom in Ireland

January 29, 2014January 27, 2014 Marc

Businesses are beginning to look to insurance in order to protect themselves from digital threats Cyber insurance policies are beginning to gain more attention as hackers begin focusing more heavily on businesses with lackluster protection in place. Hackers have been taking advantage of businesses for several years and businesses have often failed to keep up with the pace at which security software as well as hacking techniques have advanced. As such, insurance protection is becoming vital to the longevity of business large and small. In Ireland, the sale of cyber…

Industrial insurance on the rise due to cyber threats

November 20, 2013November 19, 2013 Julie Campbell

This, according to a recent announcement made by Allianz, the largest insurer in Europe. Allianz, the biggest insurer in Europe, has just revealed that its analysis of Eastern Europe, Asia, and Brazil is experiencing an increase in cyber threats and that this is driving industrial insurance revenue. The insurer, based in Munich, has determined that this unit will experience growth from this risk. According to chief executive officer, Axel Theis, of Allianz’s Allianze Global Corporate & Specialty industrial insurance unit, “New products such as cyber-risk protection and coverage for renewable-energy…