Cyber insurance market continues to grow in the US

cyber insurance theft id higher rates

More companies are beginning to embrace cyber insurance in order to guard against digital threats Cyber insurance is growing quickly in the United States, according to a new survey from the Council of Insurance Agents & Brokers. More companies are beginning to conduct business online, and this comes with significant risks that they may not be prepared to handle on their own. Consumer information is quite valuable, but many businesses have not had to protect digital information in any significant way in the past. As such, companies are beginning to…

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Commercial insurance rates are dropping in the United States

Cyber Insurance Coverage

Report highlights the falling premiums in the commercial insurance sector Commercial insurance rates have continued to drop for the second quarter of this year, according to a report from the Council of Insurance Agents & Brokers. The report is released every quarter and shows that premiums have continued to fall by an average of 3.3%, with large accounts seeing a decrease of 5.2%. Some sectors have seen an increase in premiums, however, such as the flood, commercial auto, and cyber liability sectors. Cyber liability is growing in popularity Commercial property,…

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American commercial property coverage rates poised for increase

According to the insurance brokerage at Marsh & McLennan Cos., American businesses are likely to face higher property insurance rates following the significant losses that insurers faced as a result of the decline of investment income and the natural disasters in 2011. Following a survey performed by Marsh Inc., it determined that over half of the clients in the United States have said that the last half of 2011 included an increase in their cost of property insurance. Among the policyholders who were at the greatest risk of losses from…

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