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In the world of cyber insurance, last year’s policy was designed for last year’s threats. But with new, more sophisticated threats emerging all the time, it is imperative to review and reevaluate your clients’ policies on a regular basis. Are your clients among those living dangerously? To minimize potential financial damages address these gaps in coverage with…
Cyber security is a topic that is discussed often times too late. Many business owners do not realize that one of the biggest security threats they have is right in front of them—their employees. When thinking about security, business owners need to look inward, not outward for their first line of defense. 1. Authentication management…
(Click to image to enlarge) Insurance Market Source examined Santa’s unique risk exposures and determined even Saint Nick can find the insurance coverage he needs by working with the right partner.
Three cyber-attacks occur every minute, equating to approximately 1.5 million attacks annually and growing.1 With this, the need for Cyber and Privacy insurance coverage has been steadily increasing. “Every company that holds or processes some sort of personal information has a cyber exposure,” said Ken Labelle, Professional and Executive Liability Broker, Burns & Wilcox Brokerage….
3 insurance risks and insights associated with the fastest growing app in history Pokémon GO is the fastest downloaded mobile app of all time, and everyone is talking about it. Hitting number one on the app downloads chart in five hours, Pokémon GO now has more than 23 million people playing daily.1 Although more individuals…
What you need to know about telehealth medicine, tech innovations and the new exposures they create. As the healthcare landscape shifts from fee-for-service to fee-for-value, companies and physicians providing telehealth services are becoming essential in improving access to care. Businesses like American Well, Doctor on Demand and Teladoc are part of a growing marketplace that…
Insurance Market Source regularly taps into its network of experts for insight into key trends and developments across the insurance landscape. Ken LaBelle, Broker, Burns & Wilcox within the Professional Liability Center of Excellence, breaks down the ins and outs of privacy and network security insurance. Q: Who needs privacy and network security coverage? A:…
With experts predicting losses of nearly $10 billion for this year alone incidents of credit card fraud and related costs are on the rise. These growing costs have prompted the credit card industry to reduce in-person counterfeit credit and debit card fraud by implementing CHIP or EMV (EuroPay, MasterCard and Visa) technology. In addition to…
Edward Snowden may be a thorn in the side of the National Security Agency. Yet, his actions have highlighted the importance of cyber security and the need for cyber liability coverage. This is a critical issue, which agents and brokers should be discussing with clients. Most business entities have digital content stored on email systems,…
What is first-party cyber coverage? First-party coverage protects a company against loss of productivity, profits, reputation, first-party data and the costs incurred in establishing a timeline surrounding a hack attack, computer virus or malicious employee. Traditional coverage policies such as property and crime policies do not cover first-party cyber losses. What questions should retail brokers…
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