Tag: indentity theft insurance

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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Nationwide expands its identity theft insurance policies in an attempt to combat the threat of cybercrime

Nordstrom

As insurers are growing more concerned with the threats posed by cybercrime, they are looking for ways to mitigate any damage that may be caused. Nationwide Insurance has announced that it will be expanding its identity theft insurance policies that offer protections for personal information kept on home computers. The insurer is now offering free access to security software for those with appropriate insurance policies. Nationwide hopes that this will provide another layer of protection for consumers and cut down on instances of cybercrime. According to the Bureau of Justice…

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Markel launches new DataBreach plan to help health care providers defend themselves against cybercrime

S.Vagus

Markel Insurance Co. has launched a new line of insurance coverage for health care providers. The new coverage provides protections against cybercrime and hacking. The Affordable Care Act requires that an individual’s medical and insurance information be stored electronically as part of a state-run insurance exchange. The exchange system is designed to give consumers access to affordable insurance coverage, but their information may be the target of hackers eager to test the defenses of the new system. U.S. companies became acutely aware of the dangers inherent in the digital world…

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P&C insurance agents must keep ahead of the latest threats to privacy

Marc

Agents and brokers for property and casualty insurance are being advised to keep abreast of the very latest information and statistics regarding the ever-growing risk of cyber attacks and the different kinds of coverage solutions that can allow their clients to decrease financial exposure. As hacking into private information of all types – financial, personal, and medical, for example – becomes increasingly common, insurance professionals must be able to keep up so that they can offer their clients the right forms of coverage, particularly in terms of miscellaneous professional liability.…

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Security First and Esurance to offer Florida homeowners insurance

S.Vagus

Security First Insurance Co. has partnered with Esurance and will be underwriting so that they may offer insurance to Florida homeowners. This announcement comes close on the heels of the purchase of Esurance, an online auto insurance company, as well as its associated site, Answer Financial, by Allstate Insurance. The April purchase was worth $1 billion. Esurance offers the third highest number of quotes for car insurance through its 24/7 call center and its website. It sells car insurance policies in thirty states. According to Esurance – which is recognized…

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