March 1, 2018
It was more than 20 years ago. The Internet as it is known today was in its infancy. Steven Haase was with an insurance agency in Atlanta focused on insuring technology companies. “Around 1995, I saw the commercialization of the …
May 31, 2017
A full 50 percent of U.S. firms do not have cyber risk insurance and 27 percent of U.S. executives say their firms have no plans to take out cyber insurance, even though 61 percent of them expect cyber breaches to …
April 24, 2017
Treating cyber risk as a standalone insurance market holds the promise of unlocking the potential for meaningful coverage for both insurers and buyers, according to a new report by JLT Re and JLT Specialty Limited. According to the report released …
November 1, 2016
The overall upward trend of organizations purchasing cyber insurance continued in 2016, however there are signs the market is slowing after six years of rapid growth. A 2016 Zurich Insurance-Advisen survey shows that over the last six years, the proportion …
August 29, 2016
About 120 U.S. insurance groups wrote an estimated $1 billion in cyber insurance direct written premiums in 2015, according to Fitch. Fitch aggregated the cybersecurity statutory supplement data for the U.S. property/casualty (P/C) insurance industry and analyzes the cyber insurance …
March 21, 2016
If they are not careful, property/casualty insurers could jeopardize their credit ratings with their expansion into standalone cyber insurance, a rating agency has warned. Cyber attacks pose dangerous risks and uncertainty within many industries and thus “aggressive expansion” by insurers …
October 5, 2015
The cyber risk insurance market is experiencing rapid development, with the size of global gross written premiums growing from US$850 million in 2012 to an estimated US$2.5 billion in 2014, according to a new report by London-based business intelligence company, …
September 15, 2015
Cyber risk is costing the global economy $445 billion annually, $108 billion of which comes from the U.S., according to a new report. The report from insurer Allianz Global Corporate & Specialty also predicts cyber insurance premiums will grow globally …
July 23, 2015
The Health Information Trust Alliance (HITRUST), an organization supporting the healthcare industry in advancing the state of information protection, has partnered with Willis North America to identify a common approach and develop products to better align insurance premiums with cyber …
July 14, 2015
Specialist lines underwriting agency, CFC, has extended its cyber product suite with the launch of a new policy developed specifically for U.S. healthcare providers. According to CFC’s Cyber Practice Leader, Vicky Paxton, “Healthcare companies have arguably become the largest target …