Tag: cyber security insurance

Cyber insurance claims are made by 4 out of 10 companies

Julie Campbell
cyber insurance companies security mobile

A new survey has revealed that a very large percentage of businesses have filed against their policies. When it comes to business coverage, cyber insurance has been increasing quite rapidly in popularity as a results of the many high profile data breaches that have occurred over the last few years. Unfortunately, while coverage is more common, it’s also being used quite a bit by the companies that have it. While the idea behind buying a policy is usually to get it just in case, while hoping that it will never…

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Insurance industry in the US continues drawing attention to cyber insurance

Nordstrom
Cyber Insurance industry popularity

Insurance industry well attuned to digital risks The Internet has become an all-encompassing resource for information and community for most of the world. Today, the Internet supports a multitude of businesses, many of which rely on the digital world to reach out to consumers and sell products around the world. While the Internet is often considered one of the greatest accomplishments in human history to date, it is not a utopia. Within the Internet are many threats that businesses, consumers, and governments have yet to become acclimated to. The cyber…

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Cyber risk insurance becoming a concern for businesses

Nordstrom
cyber insurance

Cyber risk insurance may help companies protect themselves Cyber security is beginning to be a major concern in the U.S., according to a new study published by Corporate Board Member and FTI Consulting. As the world of business becomes more accommodating of emerging technologies, the possibility of cyber attacks is becoming more pronounced. Data breach can cause serious damage to a company both in terms of finance and reputation, leading many businesses to seek out cyber risk insurance coverage. This coverage is designed to protect companies from malicious cyber attacks.…

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North American companies avoiding cyber insurance according to Towers Watson

Marc
Insurance Industry - Bank Heist

Are companies leaving themselves vulnerable to a cyber attack? Towers Watson, a leading consulting firm with expertise in risk assessment, has released its annual review of corporate risk this week. The firm surveyed several corporations throughout North America and found that most do not take cyber security seriously, especially in terms of insurance coverage. The firm has also found that the corporations purchasing cyber security insurance are doing so in limited capacity and seem unwilling to purchase comprehensive coverage. This may be a problem in a world where the Internet and…

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What should you think about when you consider buying cyber insurance

Nordstrom

Data breaches are a form of attack that can come on with absolutely no warning or provocation, and can cause either very little or no damage, or can cripple a business’s ability to function. Because they are so unpredictable, making them extremely challenging to budget for, cyber insurance is considered by many to be a very practical way to offset any of the unanticipated costs that can be associated with them. That said, it remains very important to take additional preventive efforts and security practices to ensure that your data…

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