cyber insurance

Cyber Liability Poses Risks Not Covered By Ordinary Insurance

By Mike Mosser
Cyber Liability Poses Risks Not Covered By Ordinary Insurance

It’s all but impossible to do business today without computers and the Internet.  Even if a computer is used for nothing more than accounting and keeping track of orders, a data loss or equipment failure could mean economic hardship for any company. Throw in the use of email, a website or social media and a company’s risk exposure could be greater than that posed by the more physical threats of fire or other disasters—especially where…

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Business cyber insurance on the rise, but 60% still lack it

By Consumer Insurance Guide Staff
Business cyber insurance on the rise, but 60% still lack it

A survey of North American companies reveals companies they’re showing an increased interest in cyber liability insurance, yet many of them believe their own methods offer enough protection. Risk managers are reacting to the increasing threat of security and privacy breaches by considering how they secure their data, according to global professional services company Towers Watson. The survey examined how North American companies use outside resources, tools and frameworks to address their risk exposure across a…

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Companies showing greater interest in cyber insurance

By Consumer Insurance Guide Staff
Companies showing greater interest in cyber insurance

As news of cyber attacks seem to be on the rise, more companies and institutions turning to cyber insurance to protect themselves from the financial consequences of a data breach or cyber attack, according to a report issued by Marsh, the insurance and risk management firm. The number of Marsh U.S. clients purchasing cyber insurance increased 33 percent in 2012 over 2011, with those in the services and educational sectors leading the way. Companies also…

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