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To Improve Data Breach Response, Follow These Steps

To Improve Data Breach Response, Follow These Steps

The value of insurance and risk management often comes into sharp focus when a loss occurs. This is especially true of cyber risks such as data breaches.

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Cyber Insurance: One Size Doesn’t Fit All

Cyber Insurance: One Size Doesn’t Fit All

There is no one perfect insurance policy for all clients, but retail agents can help their insureds find appropriate coverage forms by focusing on the exposure. This is especially true of cyber liability insurance.

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Socially Unacceptable: Social Engineering Crimes Changing Cyber Coverage

Socially Unacceptable: Social Engineering Crimes Changing Cyber Coverage

In an increasingly connected world, many cyber insurers are reporting a significant increase in social engineering claims — particularly at organizations involved in real estate and other financial services. That means retail agents and their insureds can expect to see some changes in the marketplace. As social engineering scams increase, some insurers are reducing cybercrime limits, raising premiums for cybercrime coverage, requiring policyholders to take risk mitigation steps or withdrawing from covering cybercrime altogether.

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Preparing Clients for Increased Frequency and Severity of Cyberattacks in 2019

Preparing Clients for Increased Frequency and Severity of Cyberattacks in 2019

Week after week, hackers and cybercriminals crank out new phishing campaigns, launch creative digital extortion threats and continue expanding payment card scams. Cyberattacks remain the top concern of businesses, yet, only about 55% of Fortune 500 companies and 35% of small to midsized companies (SMEs) buy cybersecurity insurance, according to PC World. And, recovery from such an attack is costly according to Cisco’s 2018 Security Capabilities Benchmark Study: 54% of all cyberattacks result in financial damages of more than US$500,000, including, but not limited to, lost revenue, customers and opportunities, as well as out-of- pocket expenses.

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Complexity Clouds Market for Financial Institutions

Complexity Clouds Market for Financial Institutions

Financial institutions have rebounded and are stronger overall since the subprime loan crisis more than a decade ago, and nonbank lending has emerged as a high-growth business. Even though capacity for financial institution risks remains plentiful, some insurers have become more conservative in their appetites for certain classes and sizes of business. While certain accounts are seeing higher premiums rise due to increased exposure, some new market entrants are pricing accounts aggressively low. What does all this mean for retail agents? Financial institution clients need help to navigate a complex marketplace to obtain the best coverages and pricing.

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How to Avoid the Uncertainty Mark-up for Catastrophe Coverage
How to Avoid the Uncertainty Mark-up for Catastrophe Coverage
New Florida Law Strengthens Apartment Safety Regulations
New Florida Law Strengthens Apartment Safety Regulations
Cyber Loss Control: Security Scans Have Pros and Cons
Cyber Loss Control: Security Scans Have Pros and Cons
2022 Excess Habitational State of the Market
2022 Excess Habitational State of the Market
Representations & Warranties Coverage Protects M&A Deals
Representations & Warranties Coverage Protects M&A Deals
Possible Insurance Implications of Roe v. Wade Overturn
Possible Insurance Implications of Roe v. Wade Overturn
2022 Energy State of the Market
2022 Energy State of the Market
Private D&O REDY® Index June 2022
Private D&O REDY® Index June 2022
Excess & Umbrella REDY® Index June 2022
Excess & Umbrella REDY® Index June 2022
Cyber REDY® Index June 2022
Cyber REDY® Index June 2022
Property REDY® Index June 2022
Property REDY® Index June 2022
Senior Living Market Easing but Reprieve May be Brief
Senior Living Market Easing but Reprieve May be Brief