Live Insurance News

Cyber insurance experiencing sudden boom from businesses

July 31, 2013July 29, 2013 G. Turner

Hotels, banks, educational institutions, and companies are purchasing the coverage in droves. Although less than a decade ago the majority of businesses felt that the idea of cyber insurance was ridiculous, as they believed that they had strong security for their networks and expert IT professionals to keep them safe, that story has changed considerably in a short time. After a number of high profile data breaches, companies are starting to realize that they are not as safe as they once thought. In fact, cyber insurance has become particularly popular…

Cyber insurance is Zurich’s new focus

July 19, 2013July 17, 2013 G. Turner

The massive insurer is hoping to increase the coverage it provides against data breaches and climate change. Zurich Insurance Group is now broadening its focus to be able to meet the growing corporate demand for coverage such as cyber insurance against data breaches as well as against the risks that are posed by climate change. This announcement was made by the general insurance chief at Zurich, this week. A growing number of businesses are seeking cyber insurance to cover themselves against the economic challenges – or catastrophe – that can…

Cyber insurance demand is going to rise

May 30, 2013May 29, 2013 Julie Campbell

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…

Cyber insurance increasingly important in Australia

February 19, 2013April 30, 2013

Businesses are experiencing a growing number of targeted attacks within that country. A newly released government report in Australia has shown that there is a rapid rise in the number of data breaches among organizations in the country, which suggests that there may be a growing need for cyber insurance. Over one fifth of companies that the government surveyed stated that they had been targeted last year. There were 255 companies that participated in the government survey, and one in every five said that within the last year, they had…

Identity Fraud, Inc. insurance news made with launch of new small business product

April 23, 2012April 30, 2013

Identity Fraud, Inc. used the 2012 ETA Annual Meeting & Expo as the venue for the announcement of its latest insurance news, with the unveiling of its SB Core Protector product. This new product is designed to combine the “top ten” solutions for data theft risk management for small businesses, for preventing, resolving related issues, and providing vital insurance resources. It offers its policyholders five prevention components for security risk in a layered, proactive way. It also offers three forms of insurance against data theft, as well as two services…