Tag: cyber insurance policy

Cyber insurance is growing in Australia

Logan B.
identity theft cyber insurance

Australian Cyber Security Center highlights the rise of cyber attacks in the country A growing number of companies in Australia are beginning to find solace in cyber insurance protection. According to the Australian Cyber Security Center, the country’s digital networks are experiencing an increase in sophisticated attacks in both the public and private sectors. As such, cyber insurance has become a more important priority for companies that have a significant presence in the digital space. While insurance protection is becoming more coveted, it may not be able to address all…

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Cyber insurance is lacking

S.Vagus
cyber insurance industry

Cyber security is gaining more attention, but insurance coverage is failing to meet companies’ needs Cyber security is becoming a major issue and the growing prevalence of malicious attacks of businesses is leading to a higher demand for cyber insurance. There are now 50 carries of cyber coverage in the insurance industry, but these coverage is not easy to obtain and many businesses suggest that most coverage is inadequate. The problems with cyber protection are related to the complicated nature of cyber attacks. The actual damage these attacks cause, in…

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Cyber insurance industry is hunting for expertise

G. Turner
risk industry cyber insurance

As the demand for this risk coverage skyrockets, insurers are looking for experience and skills in handling the problem. While insurers are watching the tiny cyber insurance coverage market spike and grow at an exponential rate, they frequently don’t have the type of skills and experience that are necessary to actually handle data breaches and hackers to be able to provide the type of service that would be required to offer this type of product. It is becoming almost commonplace to hear about high profile data breaches among massive corporations.…

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Cyber insurance could be lacking for banks when it comes to protection

S.Vagus
risk industry cyber insurance

Banks may not benefit from cyber liability insurance as much as they may believe Recent cyber attacks have highlighted the dangers that exist in the digital world. These dangers are still not fully understood, due to the fact that many businesses have only very recently begun the process of “digitizing” themselves. Banks are among those that have only recently begun to grow more digital, and this means that cyber insurance is beginning to attract more attention from these financial service organizations. The problem is, however, that insurance may not be…

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Cyber insurance protection availability is growing

Julie Campbell
data overload cyber insurance

A rising number of insurers, now including AIG, are offering this coverage as businesses boost their demand. At a time in which the headlines involving businesses that have undergone data breaches and other digital attacks are becoming a regular occurrence, American International Group (AIG) has now announced that it will be joining the growing number of insurers that are offering cyber insurance protection. This policy from AIG will be providing coverage to businesses against illegal hacking. The cyber insurance policy will not, in this case, provide any protection against physical…

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