Live Insurance News

Cyber insurance continues to grow in importance

September 10, 2015September 8, 2015 Nordstrom

Start-ups are beginning to see the greater importance of cyber protection Cyber insurance is becoming a very important priority for entrepreneurs, especially those invested in the digital market. Data is a major asset of many companies that operate online and this data can be associated with a wide range of information concerning customers or a business’ operations. For start-ups, protecting this data is becoming more important and cyber insurance is becoming an ideal way to mitigate the impact of malicious attacks that would steal this information. Data is a very…

The cyber insurance market will explode to $10 billion in 5 years

September 8, 2015September 6, 2015 G. Turner

Still, the market remains primarily untapped, despite the tremendous potential it holds. It may not come as a shock to anybody that the cyber insurance marketplace is taking off and that it was recently estimated that by the year 2020, it will be worth about $10 billion, but what is shocking is the speed that it will reach in order to get there. The growth rate that it has been achieving has made it the top product in the commercial insurance sector. The forecast of the worth of the cyber…

Commercial insurance rates are dropping in the United States

August 5, 2015August 4, 2015 S.Vagus

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,…

Cyber insurance partnership forms between Allianz and Pentura

August 4, 2015July 31, 2015 H. Cutner

The UK insurer has now joined up with a digital risk management company for this new product. Allianz is now offering cyber insurance among its products now that it has teamed up with Pentura, a cyber risk management firm, so that commercial customers will have the assistance that they need to improve their digital security and the guidance and coverage they require if a data breach occurs. As a component of the agreement, Allianz Commercial policyholders will receive free Pentura consultations. Part of the deal between the two companies means…

Cyber insurance is growing in Australia

July 23, 2015July 22, 2015 Logan B.

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…