Cyberattacks on the rise amid COVID-19 – report
Posted: September 11, 2020
Cyberattacks have increased in number and severity since the onset of the COVID-19 pandemic, according to a new report by cyber insurance and security firm Coalition. Coalition’s H1 2020 Cyber Insurance Claims Report collected insights from incidents reported across the 25,000 small and mid-sized organizations the company serves across the US and Canada. “The changes organizations have implemented to facilitate remote work have given cybercriminals new opportunities...
Insurers look to curb ransomware exposure as U.S. cyber rates rise
Posted: January 23, 2020
(Reuters) - U.S. insurers are ramping up cyber-insurance rates by as much as 25% and trying to curb exposure to vulnerable customers after a surge of costly claims, industry sources said. The changes follow a challenging year of hackers using malicious programs, known as ransomware, to take down systems that control everything from hospital billing to manufacturing. They stop only after receiving increasingly hefty payments....
Cybersecurity and the Next Generation of Risk and Liability
Posted: October 2, 2019
The need for companies and consumers to protect data and information is rapidly evolving with increasingly high stakes. One of the most concerning announcements an organization can make today is that a data breach has occurred. Such revelations can strike fear in investors and consumers alike and erode a company’s hard-earned reputation. To help our clients better view the importance of cybersecurity and how it...
How insurance can provide a solution to cybercrime
Posted: September 18, 2019
CNA Hardy and Innovation Broking have teamed up to develop a range of specialist solutions offering comprehensive cover and pre- and post- breach services that they hope will increase take-up of cyberinsurance Cyberinsurance has existed since the 1990s, yet far too many companies still choose to ignore it, putting themselves at a potentially enormous risk. According to the latest figures from the Association of British...
What is commercial business insurance?
Posted: April 9, 2019
What is commercial insurance? As the name suggests, commercial insurance protects businesses, including business owners and their employees. Because every business is different, there is no one-size-fits-all insurance policy for small business owners. For instance, an ice cream shop has very different insurance needs than an auto repair shop or a golf course. That’s why many small businesses opt for a business owners policy (BOP),...
