North American companies avoiding cyber insurance according to Towers Watson

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…

Read More

Towers Watson research shows commercial insurance prices are on the rise

The most recent Commercial Lines Insurance Pricing Survey (CLIPS) by Towers Watson, has shown that commercial insurance prices rose by an average of almost 1.5 percent during 2011’s second quarter, which is the first time that all standard commercial lines headed in an upward direction since 2003. The results of CLIPS align with the preliminary results that were obtained by a Towers Watson survey which will soon be released. They showed that 75 percent of CFOs feel that the standard property market prices have either hit the lowest point that…

Read More

New Towers Watson study warns that insurance prices could be rising amidst a flat market.

A new study from Towers Watson, a worldwide professional services firm, has found that prices for commercials insurance have remained the same for the ninth successive quarter. Overall, prices for commercial property and management liability lines have decreased over the past two years. Workers compensation, however, saw a steep increase in the first quarter of this year. The study also finds that prices for other commercial lines of insurance have been steadily increasing. The director of Towers Watson’s Property & Casualty practice, Bruce Fell, notes that the increases in workers…

Read More