Spending on cyber insurance skyrockets as high profile cases rise

Cyber Insurance industry popularity

The size of the problem associated with cyber attacks is becoming clearer as data breaches make more frequent headlines. The number of large companies and corporations that have experienced highly publicized data breaches is rapidly rising, and other businesses have not failed to notice; having responded with the purchasing of cyber insurance policies to help to protect themselves from the extensive damages that this type of digital attack can bring. Insurers that offer this type of data breach liability coverage are seeing notable growth in that business. At the same…

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Cyber liability insurance is experiencing a rapid evolution

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As high profile data breaches become headlines on a regular basis, awareness of this coverage is expanding. The risk of a data breach is rapidly on the rise and as it is coming to the point that no one feels safe from this potential problem, awareness of cyber liability insurance is climbing as well, and the result has been a rapidly evolving coverage sector. The latest estimates are that the data breach at JPMorgan Chase could impact 76 million households. As the risk rises and as it is continually in…

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The insurance industry is beginning to take cyber attacks seriously

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Insurers are beginning to develop policies to protect energy grids The insurance industry is beginning to focus more heavily on the digital world. As cyber attacks become more common, their devastating impact is beginning to be better understood by insurers, and some companies have begun offering policies that aim to protect against attacks that could target the energy sector. A significant attack could lead to major, long lasting blackouts that would have serious implications for businesses and consumers alike. As such, insurance protection is becoming more important in order to…

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Cyber insurance is making it onto more company shopping lists

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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…

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Cyber liability insurance interest spikes following major data breaches

Cyber Insurance industry popularity

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…

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