Cyber incidents hit one of every 10 U.S. small businesses last year yet only 31 percent of them have cyber insurance, according to the Insurance Information Institute and J.D. Power 2018 Commercial Cyber Insurance and Security Spotlight Survey℠. Also see: Helping consumers understand the value of cyber insurance
From a profitability perspective, 2018 will likely turn out to be a good year—maybe the best in more than a decade, in part because it started out quite well. The first half of 2018 produced a $6.0 billion underwriting gain vs. a $4.6 billion loss in the first half of 2017. It is too soon, however, to know how the storms of the third quarter will affect full-year underwriting results, but at the least this first-half profit will moderate any underwriting losses that emerge.
PERSONAL ARTICLES FLOATER- A policy or an addition to a policy used to cover personal valuables, like jewelry or furs.
RISK RETENTION GROUPS- Insurance companies that band together as self-insurers and form an organization that is chartered and licensed as an insurer in at least one state to handle liability insurance.See Full Glossary
FOR IMMEDIATE RELEASE Sheena Bermingham, Coburn Communication: (212) 730-7045; email@example.com Insurance Information Institute New York Press Office: (212) 346-5500; firstname.lastname@example.org NEW YORK (October 18, 2018)— Cyber incidents hit one of every 10 U.S. Read More
FOR IMMEDIATE RELEASE Kim Kirchner, Coburn Communication: (212) 536-9837; Kim.Kirchner@coburnww.com New York Press Office: (212) 346-5500; email@example.com NEW YORK, October 11, 2018 — Reporters covering Hurricane Michael’s aftermath are encouraged to contact the Insurance Informatio… Read More