Live Insurance News

Industrial insurance on the rise due to cyber threats

November 20, 2013November 19, 2013 Julie Campbell

This, according to a recent announcement made by Allianz, the largest insurer in Europe. Allianz, the biggest insurer in Europe, has just revealed that its analysis of Eastern Europe, Asia, and Brazil is experiencing an increase in cyber threats and that this is driving industrial insurance revenue. The insurer, based in Munich, has determined that this unit will experience growth from this risk. According to chief executive officer, Axel Theis, of Allianz’s Allianze Global Corporate & Specialty industrial insurance unit, “New products such as cyber-risk protection and coverage for renewable-energy…

Cyber insurance now available from Chubb

August 30, 2013August 27, 2013 Julie Campbell

The company has acknowledged the growing need for coverage and is now selling to business customers. If there is anything that can be agreed upon by virtually every business that uses a computer (are there any out there that don’t have at least one?), it is that the threat of a data breach or of being hacked and having information is high, and that cyber insurance could provide some protection. With this knowledge, and the increasing popularity of the coverage, Chubb has jumped on the bandwagon and is selling. Data…

Cyber insurance experiencing sudden boom from businesses

July 31, 2013July 29, 2013 G. Turner

Hotels, banks, educational institutions, and companies are purchasing the coverage in droves. Although less than a decade ago the majority of businesses felt that the idea of cyber insurance was ridiculous, as they believed that they had strong security for their networks and expert IT professionals to keep them safe, that story has changed considerably in a short time. After a number of high profile data breaches, companies are starting to realize that they are not as safe as they once thought. In fact, cyber insurance has become particularly popular…

Cyber insurance is Zurich’s new focus

July 19, 2013July 17, 2013 G. Turner

The massive insurer is hoping to increase the coverage it provides against data breaches and climate change. Zurich Insurance Group is now broadening its focus to be able to meet the growing corporate demand for coverage such as cyber insurance against data breaches as well as against the risks that are posed by climate change. This announcement was made by the general insurance chief at Zurich, this week. A growing number of businesses are seeking cyber insurance to cover themselves against the economic challenges – or catastrophe – that can…

Five Types of Business Insurance You Should Have

May 26, 2013February 15, 2014 Guest Author

How to Avoid Financial Ruin in the Future Businesses need several different types of insurance to protect them from financial ruin. It is important to protect your business with different types of insurance that will keep you and your business protected in several key ways. Importance of Property Insurance Property insurance will protect your building and the supplies within it if there is a robbery or fire. Furthermore, this insurance also will help if your store has been vandalized or if there is smoke damage to the property or items…

Cyber insurance became increasingly popular last year

March 20, 2013April 30, 2013

A Marsh study showed that the demand for this protection increased considerably in 2012. According to a report issued by Marsh Inc., the broker and risk adviser, the demand for coverage with cyber liability insurance increased as a growing number of businesses purchased the protection. The average policy limits that were taken out also increased during last year, said the report. The number of clients of FINPRO at Marsh that took out cyber insurance last year increased by 33.3 percent over the number from the year before. This, according to…

Cyber insurance increasingly important in Australia

February 19, 2013April 30, 2013

Businesses are experiencing a growing number of targeted attacks within that country. A newly released government report in Australia has shown that there is a rapid rise in the number of data breaches among organizations in the country, which suggests that there may be a growing need for cyber insurance. Over one fifth of companies that the government surveyed stated that they had been targeted last year. There were 255 companies that participated in the government survey, and one in every five said that within the last year, they had…