Live Insurance News

Cyber insurance is become more important for the world’s businesses

November 11, 2015November 10, 2015 S.Vagus

Businesses are facing major threats in the digital world The global insurance industry is becoming more involved in cyber protection, especially as digital attacks become more common. Last year, Sony was hit by a data breach from hackers suspected of hailing from North Korea. The data breach would have caused Sony more than $100 million in losses, but the company had purchased cyber insurance protection, which meant that Sony was only liable for one-third of that amount. Now, more companies are acquiring cyber insurance and insurers are beginning to view…

Cyber insurance claims are made by 4 out of 10 companies

November 10, 2015November 8, 2015 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…

Aon Benfield expects an upswing in the U.S. homeowners insurance market

November 10, 2015November 8, 2015 H. Cutner

This indicates that home insurers could be aligned to start seeing improvements in their returns. According to Aon Benfield, the current trend of improvement overall in homeowners insurance returns for this year was, in part, driven by a boost in prospective levels in the rates for premiums, and that the improvements are likely to continue. The insurer also said that the estimated catastrophe ratio has experienced a notable decline. The reason that ratio has declined is that there have been updates implemented for the vendor catastrophe models that were utilized…

Auto insurance fines create controversy in Louisiana

November 10, 2015November 8, 2015 Logan B.

Office of Motor Vehicles sends more than 1 million letters to drivers for lapsed insurance coverage The Louisiana Office of Motor Vehicles has sent out more than 1 million letters to drivers, seeking to collect some $400 million in fines associated with lapsed auto insurance coverage. These letters were sent to approximately 550,000 Louisiana drivers, many of whom have more than one vehicle, or were unable to insure their vehicles for a period of time. Some drivers are facing fines as high as $656 for driving without auto insurance coverage.…

Birth control insurance ruling will be laid down by the Supreme Court

November 9, 2015November 8, 2015 Julie Campbell

Health Companies and Contraceptives birth control insurance

This will settle a broad scale dispute occurring between the Obama administration and religious non-profits. On Friday, the Supreme Court agreed that it would settle the ongoing birth control insurance dispute occurring between the Obama administration and certain religious non-profits. This will surely place religious freedom and reproductive rights in the presidential campaign spotlight. The justices gave the nod to hearing a challenge against the Affordable Care Act which will be made by seven non-profit organizations. Each of those different groups claim to have religious objections to the requirements of…