Demand in the US is driven by legislation regulating how companies respond to cyber incidents. Additionally, companies are facing new requirement to carry cyber/data privacy insurance from key business partners. CFC, a leading underwriter of cyber cover said it is receiving at least one claim per day in 2016. They cited a steady increase in …
After experiencing a cyberattack in 2013 resulting in significant first and third party losses, Hotel Monteleone asked it’s insurance agent Eustis Insurance to procure cyber insurance to respond to any future claims. In October 2014, the hotel was again victimized by hackers and looked to its cyber insurance policy for a coverage response. The cyber …
Broker Sued for Inadequate Cyber Coverage: Costly Litigation Read More »
Whilst industry reports vary on the expected growth rate of cyber insurance premium volume in the coming years, what’s certain is that premium volume is growing steadily and fast. Those that are well positioned in the cyber insurance industry can expect a steady growth rate in their own businesses. However, due to the complexities of …
Two Cyber Insurance Mistakes That Can Kill Your Business Read More »
According to The Hiscox Cyber Readiness Report 2017 report, cyber security spending is on the increase as the survey respondents show that the majority of cyber security budgets (59%) are set to increase over the coming 12 months by at least 5% and one in five firms (21%) will lift spending by a double-digit amount. Nearly half …