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Free Pokemon Go insurance available from Sberbank

July 22, 2016July 20, 2016 G. Turner

The largest bank in Russia is now offering free coverage for people who experience an injury from playing. Sberbank, Russia’s biggest bank, is now offering free Pokemon Go insurance to its customers. The insurance policy will protect policyholders for claims up to 50,000 rubles (approximately $800) in the event of injury during play. Pokemon Go injuries are becoming increasingly common as people move about while distracted. As silly as this offering may sound, the large number of reported injuries shows it could have a purpose. The Pokemon Go insurance provides…

If SpaceX rockets are to be reused, they’ll need insurance first

June 9, 2016June 8, 2016 H. Cutner

The company is looking to use their technology more than once and is preparing to recover them for re-launch. Now that it has been shown that SpaceX rockets are able to make landings on a consistent basis, they are now looking to insurance underwriters to make it possible to be able to reuse those devices for the launch of commercial satellites. The insurance industry will need to be heavily involved in this process in order to manage the financial implications. Over the next week or two, the Hawthorn space company…

Chubb hopes their cyberbullying insurance policy will make a much-needed difference

May 3, 2016April 30, 2016 Marc

computer keyboard cyber insurance market

The insurer has now started offering this additional optional coverage to its homeowners customers. Chubb has now started to offer an additional cyberbullying insurance policy option to customers who already have homeowners coverage through the insurer, with the hopes of providing added protection against many forms of digital cruelty and humiliation. The purpose of the coverage is to cover the cost of repairing an online reputation and of counseling. While it can be very embarrassing for people who have discovered that someone else has posted embarrassing photos on social media…

Insurance news made as Coinbase takes out Bitcoin policy

September 2, 2014August 31, 2014 H. Cutner

The company has now purchased protection through Aon to cover digital currency from theft and loss. Coinbase, a provider of bitcoin merchant and wallet services, is now making insurance news as it has taken out a policy to be able to cover the digital currency against the threat of loss and theft. The company is seeking to use the insurance policy to protect itself against cyber attacks and hacks. According to a blog post from the company, “Coinbase is insured against theft and hacking in an amount that exceeds the…

Is Cyber Insurance Really Necessary?

June 28, 2014June 27, 2014 Note From The Editor

Society is becoming more integrated with technology and that is exposing businesses to new threats that they may not be prepared to deal with. Cyber insurance is designed to be a type of protection against these threats, but many businesses have yet to fully embrace this protection. Large companies tend to have cyber liability policies in force, but smaller companies do not typically see this type of coverage as necessary, mostly due to the misconception that they are not high value targets. High profile cyber attacks are often highlighted in…

Largest Czech insurer, Ceska Pojistovna A.S., leans on IBM to prevent tech problems

December 31, 2011December 31, 2011 H. Cutner

IBM has released a statement that revealed that Ceska Pojistovna A.S., the largest Czech Republic insurance company, is using the predictive approaches from smarter computing at IBM in order to take preemptive action against IT problems and to provide its core business functions – for example, customer management and claims processing – with greater support. By using the technology from IBM, the insurer has managed to reduce its overall yearly IT maintenance costs by $500,000, while at the same time achieving an improved online reporting ability for business customers, and…

The top answers that will enlighten the insurance industry in 2012

December 18, 2011May 6, 2013

As 2011 comes to a close, insurance companies are already beginning to ask questions about technology and regulation trends, as well as other important considerations. Though they won’t have their answers before this year is finished, there are already some predictions being made about what will be learned in the upcoming year. After all, a large number of changes are occurring in the industry, such as the wave of new mobile commerce technology that is now becoming much more mainstream, where it had only been considered “emerging” until now. Among…