cyber liability insurance News

AIG Expanding Commercial Casualty Policies to Include Cyber Coverage

American International Group Inc. said it would include cyber coverage to its commercial casualty insurance during the first quarter of 2018, a move that would boost rates but make it clearer how customers are covered if they are the victim …

Philadelphia Launches Cyber Security Liability Endorsement

Philadelphia Insurance Companies’ (PHLY) has launched a new Cyber Security Liability Endorsement that offers both first and third party protection for numerous classes of business. The Cyber Security Liability Endorsement can be added to most PHLY commercial package policies with …

BHSI Offers Cyber Liability Cover in New Zealand; Marshall to Lead Product Line

Berkshire Hathaway Specialty Insurance Co. (BHSI) announced that it has introduced cyber liability insurance in New Zealand and appointed Ian Marshall to lead the product line locally as senior underwriter, Executive & Professional Lines. BHSI’s new cyber liability policy covers …

BHSI Launches Cyber Liability Cover in Australia; Osgood Leads Product Line

Berkshire Hathaway Specialty Insurance Company (BHSI) announced it has introduced cyber liability insurance in Australia and named Emma Osgood as head of Cyber Liability in the region. BHSI is focusing on the mid-to-large-tier market segment and will tailor solutions for …

Top Exposures Facing Global Middle Market Firms Vary by Region: Assurex Survey

While all middle market businesses across the world have concerns about cyber risk, few of these firms view it as their biggest exposure, according to a global survey* of 68 leading independent insurance brokers, which gauged the concerns of their …

Cyber Insurance Underwriting Moves from ‘Toddler’ to ‘Teen’ As Insurers Learn from Claims

Given the fact that the insurance industry paid out more than $400 million in highly publicized cyber liability insurance claims in 2014 alone, one might think that insurers would be shying away from the line. But one would be wrong, …

AmWINS Launches New Cyber Liability Product

AmWINS Group, Inc., a global distributor of specialty insurance products and services, announced today the launch of a new dedicated excess facility designed to meet the rapidly growing demand for cyber liability insurance. “With some domestic insurers exiting the product …

Smaller Firms Showing Interest in Cyber Liability Coverage: Aspen’s Vitale

Cyber liability insurance isn’t just for large corporations anymore. Demand for cyber liability insurance is now coming from middle-sized and small businesses, according to an insurance CEO who believes the market potential is tremendous. “Now we see many, many what …

Biggest Obstacle to Cyber Insurance Sales Is Customer Education

The biggest challenge in selling cyber insurance is educating businesses about the need for cyber coverage, according to a new survey. The survey of insurance professionals found that among carriers offering cyber insurance, 40 percent say businesses don’t think they …

Liberty Mutual Adds Data Compromise Coverage to Insurance Agent E&O Program

Liberty Mutual Insurance has added data compromise coverage to its insurance agents errors & omissions (E &O) program. The endorsement carries an annual aggregate limit of $100,000 for response expenses and an additional $100,000 annual aggregate limit for defense and …