The Source for Cyber Insurance News, Insights and Data
Hartford Steam Boiler (HSB) has introduced “Cyber for Auto,” an insurance product designed to mitigate cyber threats targeting personal vehicles. This offering is in response to the growing concern over cyber-attacks, ransomware, and identity theft as vehicles become more technologically advanced. “Automakers continue to integrate new technologies into today’s vehicles,” said James Hajjar, chief product … Read more
Active Insurance provider Coalition has unveiled its latest offering, Miscellaneous Professional Liability (MPL) Insurance. “Instead of going to multiple insurers or working with multiple underwriters, brokers can come to Coalition for quotes for Cyber and MPL coverage,” said Shawn Ram, Coalition’s Head of Insurance. This move is a response to the rapidly expanding professional services … Read more
In the dynamic landscape of insurance shopping, a recent TransUnion report sheds light on sustained trends influencing the market. Auto and property insurance shopping rates showed stability compared to Q2 2023. But when measured against Q3 2022 they rose by 12% and 6%, respectively. The report, part of TransUnion’s Insurance Personal Lines Trends and Perspectives, … Read more
In a bid to address the mounting concerns surrounding personal cyber safety, Westland Insurance, a leading Canadian independent insurance broker, has partnered with global insurtech firm BOXX Insurance. Together, they aim to introduce a comprehensive cyber insurance product to meet the growing need for digital protection. Recent data indicates that Canadian households face a higher … Read more
We’ve written about the growth of personal cyber insurance and the challenges associated with it. Major insurance carriers continue to pursue the business, concluding that trends from the COVID pandemic provide tailwind for the market. “’When commercial cyber losses started coming with frequency and severity, it wasn’t just the businesses who were hit by extortion … Read more