Tag: cyber liability insurance

New cyber insurance company being backed by Lloyd’s of London

Logan B.
cyber insurance agent

Tom Ride to work with Lloyd’s in order to form a new insurance organization Tom Ridge, the United States’ first Secretary of Homeland Security, is working with Lloyd’s of London in order to launch a new company that will specialize in cyber insurance. Many of the world’s businesses have become inseparably reliant on technology. Much like the physical world, the digital world is not a safe place and there are many risks that businesses face by embracing technology more completely. Without adequate insurance coverage, companies targeted by malicious digital attacks…

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Cyber liability insurance is experiencing a rapid evolution

Julie Campbell
digital integration hubs insurance

As high profile data breaches become headlines on a regular basis, awareness of this coverage is expanding. The risk of a data breach is rapidly on the rise and as it is coming to the point that no one feels safe from this potential problem, awareness of cyber liability insurance is climbing as well, and the result has been a rapidly evolving coverage sector. The latest estimates are that the data breach at JPMorgan Chase could impact 76 million households. As the risk rises and as it is continually in…

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The insurance industry is beginning to take cyber attacks seriously

S.Vagus
Cyber Insurance policies commissioners industry

Insurers are beginning to develop policies to protect energy grids The insurance industry is beginning to focus more heavily on the digital world. As cyber attacks become more common, their devastating impact is beginning to be better understood by insurers, and some companies have begun offering policies that aim to protect against attacks that could target the energy sector. A significant attack could lead to major, long lasting blackouts that would have serious implications for businesses and consumers alike. As such, insurance protection is becoming more important in order to…

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

S.Vagus
cyber insurance theft id higher rates

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 is becoming more important

Nordstrom
cyber insurance industry

Cyber security is becoming a priority as new vulnerabilities are revealed and digital attacks become more common Cyber security is gaining more serious attention, especially as new OpenSSL vulnerabilities are announced. Two new vulnerabilities were revealed recently, both of which allow malicious groups or individuals to exploit information stored on an insecure computer or mobile device. Cyber attacks are becoming more common and they are beginning to attract actual attention, moving from the realm of modest concern to serious problem. Cyber insurance may be able to help ease the problem,…

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