Tag: cyber insurance

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 may be vital, but not widely available

S.Vagus
cyber insurance policies coverage fraud

Businesses are beginning to see the value of cyber liability insurance Retailers may need to begin taking cyber liability insurance more seriously. The world is becoming more digital and businesses are beginning to follow consumers into the digital space in order to better accommodate their needs. This means that a growing number of businesses are beginning to expose themselves to digital threats, and these businesses may not be equipped to handle these threats in their various forms. Businesses have yet to fully comprehend the risks that are inherent in digital…

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Businesses need more than cyber insurance

Note From The Editor
identity theft cyber insurance

The world is becoming more integrated with technology and this is beginning to change the way the insurance business works. With businesses beginning to enter into the digital space in order to more effectively engage consumers, the need to protect themselves from cyber attacks is beginning to increase. Many businesses to not take the steps necessary to protect themselves from digital threats, so insurers are beginning to serve as a safety net, but even the insurance industry cannot protect companies from every threat in the digital world. The digital risks…

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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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Cyber insurance is badly needed by energy companies

Julie Campbell
Cyber Insurance Coverage

Many believe that these utility companies are a “time bomb” for a digital attack. According to a recent publication by Willis, a reinsurance broker, energy companies do not have cyber insurance against any type of digital attack, but that the threat level has currently reached that of a “time bomb” that could end up costing the industry billions of dollars if the right cybercriminal does come along. The reinsurer used its annual review of the insurance market of the energy sector to underscore this vulnerability. Within the annual review, Willis…

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