Cyber insurance premiums are falling as major digital attacks drop in frequency

Premiums are beginning to decline due to the growing rarity of major cyber attacks Cyber insurance premiums are beginning to fall thanks to a decline in the number of major data breaches that have been reported. Major data breaches have made headlines in the past few years, but the frequency at which these digital attacks are occurring has fallen. As a result, cyber insurance rates have fallen during the first three months of this year for several high-risk industries, such as the retail and health care spaces. Large companies have…

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Terrorism insurance is becoming common among large businesses

Texas Terrorism Insurance news

Major businesses are now beginning to embrace terrorism insurance more aggressively Terrorism insurance is becoming more common for businesses. Terrorist attacks are becoming more common, which is beginning to cause worry for businesses that could be caught in such events. Now, six in 10 major businesses now have terrorism insurance coverage. Jeremi Suri, chair of Leadership in Global Affairs, notes that businesses see paying for terrorism insurance as an adequate way to hedge risks. While it is still unlikely for most businesses to experience a terrorist attack, being prepared for…

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Cyber insurance is gaining attention in the UK

UK cyber Insurance industry News united kingdom

UK government to launch initiatives to promote cyber insurance coverage Cyber insurance is kicking off in the United Kingdom. The government has announced several join initiatives that are designed to improve the stability and availability of cyber insurance in the country. The UK Cabinet Office and Marsh, a prominent insurance company, have partnered to launch these initiatives in order to protect companies from cyber attacks. Recently, the two organizations published a report that shows that the majority of British firms lack the appropriate level of cyber protection. Report shows that…

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Cyber insurance is lacking in the UK

cyber insurance industry

Large UK firms may not see value in cyber insurance protection Cyber insurance may be lacking among large businesses in the United Kingdom. The British government has released a report that suggests only 2% of large British firms have insurance coverage that will protect against cyber attacks. The report was jointly released with Marsh, a prominent insurance company, and recommends that businesses begin taking the risks that exist in the digital world more seriously. Following several high-profile cyber attacks, businesses and consumers could be at risk of exploitation if they…

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Report highlights dropping prices throughout the insurance industry

Cyber Insurance Coverage

Marsh released report denoting the decline in global insurance prices Marsh, a leading insurance broker, has released a new report concerning falling insurance prices throughout the world. The report shows that global insurance prices have fallen by 2.8% year-on-year in the third quarter, which is the sixth consecutive quarter in which price declines have been recorded. Notably, insurance prices in Latin American have fallen more than in any other part of the world. This ongoing trend will have some impact on the insurance industry as a whole. Prices are falling…

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