Business Insurance

Business Insurance
Share

Business Insurance

 •  December 13

Cyber security threats are the leading concern for company directors, according to a law firm’s report on the top 10 topics for directors for 2018. “The stakes will continue to rise for boards in connection with cyber security in 2018,” said the report issued Wednesday by Washington-based Akin Gump Strauss Hauer & Feld L.L.P. “Cyber security...

Business Insurance

 •  December 13

Despite a series of high-profile cyber breaches, Willis Towers Watson P.L.C. said Tuesday that experts forecast cyber insurance rate increases of up to 5% for 2018. The prediction was based on findings from Willis Towers Watson’s report 2018 Marketplace Realities Report: Cyber Risk, which also noted that total annual cyber premiums are set to climb...

Business Insurance

 •  December 12

NEW YORK — Cyber security must move out of the tech realm and into the boardroom, a panel of experts said Thursday during an event in New York sponsored by JLT Specialty USA. The discussion was moderated by Reid Sawyer, senior vice president of JLT Specialty USA, a unit of Jardine Lloyd Thompson Group P.L.C., who noted that cyber risk has been the...

Business Insurance

 •  December 12

American International Group Inc. on Tuesday announced a cyber benchmarking model that quantifies and scores policyholder cyber risk. The model evaluates a policyholder’s cyber security maturity against 10 common attack patterns across 11 commonly used technology devices, AIG said in a statement. It incorporates security data such as current threat...

Business Insurance

 •  December 5

Cyber security firm Coalition Inc. is introducing two proprietary insurance products for cyber and technology errors and omissions as a managing general agent for Swiss Re Ltd. and Argo Group International Holdings Ltd. San Francisco-based Coalition said it will offer limits of up to $10 million for comprehensive cyber and technology E&O insurance...

Business Insurance

 •  November 21

The Trump administration’s rules for deciding when to reveal cyber security flaws to private companies provides more clarity on procedures introduced by the Obama administration and will expedite the entire process, say experts. But they also warn the protocols’ effectiveness will become clear only after they have been implemented, and further...

Business Insurance

 •  November 20

A total of 57% of small and medium enterprises do not have cyber insurance, while 63% have experienced some form of cyber incident, says a survey issued Monday by Argo Group International Holdings Ltd. The survey of 200 SMEs was conducted in the United States and United Kingdom in September, according to a statement by Hamilton, Bermuda-based Argo....

Business Insurance

 •  November 16

At-Bay, a startup managing general underwriter for Hartford Steam Boiler Inspection & Insurance Co. that focuses on analyzing and preventing cyber risk, began operations Thursday. The Mountain View, California-based firm will underwrite stand-alone surplus lines policies offering coverage of up to $10 million, said founder and CEO Rotem Iram. The...

Business Insurance

 •  November 14

Reprints NEW YORK — Evolving ransomware risks remain a significant concern for the cyber insurance market, while environmental insurers are carefully monitoring developing mold claims. A panel of insurance industry experts offered their views on the current state of the property, cyber and environmental markets on Thursday during the 21st annual...

Business Insurance

 •  November 3

ATLANTA — Ransomware attacks have emerged as one of the most pressing new cyber issues that companies must face when crafting a cyber solution, according to a panel of industry sources speaking at the 30th annual Professional Liability Underwriters Society conference Thursday in Atlanta. “If we rewind five years, to talk about cyber extortion to...