Category: Technology

Agents and professionals are advised to keep up with technology – this will be sure to help with running an agency or brokerage. Learn what company is coming out with the latest claims program or risk mitigation software.

Cyber insurance claims smash previous North American records

Marc
Cyber Insurance - Generic Insurance Claim Form

According to broker Marsh, claims in 2023 bashed through all previous records After receiving more than 1,800 cyber insurance claim reports from US and Canadian clients in 2023, Marsh announced that last year broke all previous records for this type of claim filing. The broker went on to identify driving factors Among the reasons for the rising number of cyber insurance claims, according to Marsh, included that the sophistication of these digital attacks is rising.  Moreover, the MOVEit file transfer supply chain incident’s sheer scale drove up claims.  Privacy claims…

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Are auto insurance companies secretly spying on drivers with their phones?

Nordstrom
Auto Insurance - Spying

Common apps may be feeding insurers more info than motorists think Auto insurance companies have been offering discounts to drivers who use their apps to track their habits behind the wheel and prove that they are safe while they’re on the road. Other apps may also be feeding information to insurers According to a recent Business Insider report, auto insurance companies are learning about drivers’ habits even if those motorists haven’t signed up to be tracked.  The report stated that there is a slew of commonly used applications installed on…

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Warren Buffett thinks cyber insurance market could see “huge losses”

Marc
Cyber insurance - Losses

Berkshire Hathaway and its head see a chance that this market will experience struggles Berkshire Hathaway recently held its annual shareholder meeting in Omaha, and there, top exec Warren Buffett and top insurance exec Ajit Jain said that cyber insurance is too risky for the company. That particular market is currently quite profitable At the meeting, Jain underscored that while cyber insurance is profitable at the moment and has become “a very fashionable product,” the risks associated with investing in it are quite high.  He said that to date for…

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Could home insurance companies justify canceling policies with drone footage?

Logan B.
Home insurance - Drone - Cancelled

Insurers in Florida are being accused of using aerial photos as evidence to cut people’s coverage Home insurance is already hard for many homeowners to find in Florida, as the state is currently suffering from a coverage crisis in that sector.  Now media reports are popping up stating that insurers are using aerial footage collected by drones to justify cancelling a property’s coverage or declining to renew it. Reports are appearing that policyholders are receiving warnings from insurers A recent WFTV report showed that some home insurance customers have obtained…

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Don’t Let Infringement Risks and Legal Troubles Be Your Reality

Nordstrom
Infringement Risk - Copyright Infringement

Minimizing Infringement Risks: The Essential Role of IP and Brand Protection Intellectual Property (IP) and brand protection are essential for preserving a business’s identity, value, and competitive advantage. In the digital era, protecting these unique assets—ranging from inventions to trademarks—is more vital and challenging than ever. They not only differentiate your offerings but also cultivate customer loyalty and drive profits. Your brand, reflecting your company’s reputation and customer perception, is an invaluable asset. Safeguarding IP and your brand is about protecting your business’s core from misuse and infringement. This task…

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