Cyber insurance demand is going to rise

Julie Campbell
Cyber Insurance

A new report has revealed that while there is large potential for this market, price is still a barrier. According to a report released by A.M. Best, the rating agency, there is tremendous growth potential in the cyber insurance market, but the evolving nature of the risk of digital attacks and the pricing strategies currently used are posing a sizeable underwriting challenge. Over the past handful of years, there has already been a massive increase in this market. The size of the cyber insurance market has grown by approximately 80…

Read More

Homeowners insurance rates to be affected by hurricane season

H. Cutner
homeowners insurance news florida

Property owners in Florida will be paying more for their coverage even though there haven’t been hurricanes in years. Despite the fact that Florida hasn’t been struck by a hurricane since 2005, the homeowners insurance rates are still on their way up as the season for these violent storms gets under way this year. In 2004 through 2005, the state was struck by eight different hurricanes, the last being Wilma. Hurricane Wilma slashed its way across the southern edge of the state and lead to billions of dollars in damage…

Read More

Oil insurance offered by Iran to India refiners

G. Turner
india news iran crude oil insurance

In an effort to boost the sales of crude, Tehran is now offering coverage to Indian refineries. Iran has just offered to provide Indian refiners with oil insurance in order to try to increase its sales of crude, as Tehran seeks out new ways to reduce the considerable impact it has suffered from the revenues drop that resulted by strict sanctions from the European Union and the United States. The sanctions from the E.U. and the U.S. have slashed away at Iran’s ability to sell crude. These sanctions were specifically…

Read More

Lloyd’s estimates risks solar storms pose to insurance industry

S.Vagus
Insurance Industry News - Solar Flare

Insurance industry may not be suited for powerful solar storms Lloyd’s of London has released a new report concerning the emerging risks associated with powerful solar storms. A solar storm is produced by solar flares and coronal mass ejections that are directed in the general location of the planet. Typically, such events present no significant threat to the world as they are relatively rare and not directly targeted at earth. According to Lloyd’s, however, a direct hit from such an event could have cataclysmic consequences, especially for the insurance industry.…

Read More

Health insurance concerns worsen in Mississippi

Logan B.
Health Insurance Mississippi

Mississippi health insurance exchange is the source of worry for regulators Health insurance continues to be a controversial issue in the U.S. and Mississippi Insurance Commissioner Mike Chaney has begun expressing strong concerns over the Affordable Care Act’s ability to provide affordable coverage to consumers. The Commissioner has begun to voice his doubt as to whether people will actually be able to receive health insurance coverage when they enroll in the state’s health insurance exchange in October of this year. The state is had sought to operate its own exchange…

Read More