Cyber and privacy

The New Normal in an Online World: Cyber Liability

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…

4 Trends in Cyber Insurance

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….

Pokémon GO leaves some yelling Pokémon No!

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…

The Doctor Will See You Now

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…

Privacy and Network Security Coverage

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:…

3 Ways CHIP/EMV Technology Can Affect Cyber Liability

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…

Cyber Liability Coverages Every Client Should Be Aware Of

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,…

Why Consider First-Party Cyber Coverage?

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…