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Is Cyber Insurance Really Necessary?

June 28, 2014June 27, 2014 Note From The Editor

Society is becoming more integrated with technology and that is exposing businesses to new threats that they may not be prepared to deal with. Cyber insurance is designed to be a type of protection against these threats, but many businesses have yet to fully embrace this protection. Large companies tend to have cyber liability policies in force, but smaller companies do not typically see this type of coverage as necessary, mostly due to the misconception that they are not high value targets. High profile cyber attacks are often highlighted in…

Insurance Fraud and its Effect on Premiums

June 21, 2014June 21, 2014 Note From The Editor

Auto insurance fraud is a costly problem Insurance fraud is quite prevalent, but not necessary always in the spotlight. Many people don’t understand how fraud affects the insurance industry or that fraud also has an impact on them as well. In the auto insurance sector, fraud has become quite common, partly due to the prevalence of certain laws and the that there are groups devoted to committing fraud in a highly organized manner. Some of these groups are lead by medical and insurance professionals as well. According to the Coalition…

The Insurance Industry and Climate Change

June 14, 2014June 12, 2014 Note From The Editor

Climate Change Insurance agents Industry

Insurers are taking steps to address climate change When it comes to climate change, insurance can be a tricky subject. The global insurance industry does not typically deal in “what ifs” and many large insurers are not willing to debate whether or not climate change is real. These insurers are more apt to address the issue of climate change by offering new insurance products and finding ways to mitigate the risks associated with the phenomenon. Powerful storms, rising temperatures, and depleting food and water resources are becoming issues that the…

Businesses need more than cyber insurance

June 7, 2014June 9, 2014 Note From The Editor

The world is becoming more integrated with technology and this is beginning to change the way the insurance business works. With businesses beginning to enter into the digital space in order to more effectively engage consumers, the need to protect themselves from cyber attacks is beginning to increase. Many businesses to not take the steps necessary to protect themselves from digital threats, so insurers are beginning to serve as a safety net, but even the insurance industry cannot protect companies from every threat in the digital world. The digital risks…

The Insurance Industry and the Challenge of New Media

May 31, 2014May 30, 2014 Note From The Editor

Insurers are finding it tricky to provide effective policies to the new media space The world of media is changing quite quickly. So called new media, which refers to on-demand content that is available at any time and on any digital service, is becoming the de facto form of entertainment for many people, especially those in younger generations. New media is quite different than traditional media, especially when it comes to matters concerning the distribution and protection of content. New media represents a certain challenge for the insurance industry that…

The Impact of Insurance Fraud

May 24, 2014May 24, 2014 Note From The Editor

Fraud is not only a problem for insurers Insurance fraud is more common than people may think and it is one of the most serious problems facing the insurance industry today. Fraud causes an estimated $115 billion in financial damage in the U.S. alone and this damage is not only felt by insurance companies. Because insurers are pressured to recover from losses, the financial damage caused from fraud often trickles down to policyholders, who must pay for the fraudulent activities of others through increased premiums or fewer benefits being offered…

The Insurance Industry and Climate Change

May 17, 2014May 16, 2014 Note From The Editor

Climate change does not escape the notice of insurers Climate change is a controversial issue, but not so controversial that the insurance industry would avoid it. Indeed, many insurance groups around the world are beginning to consider climate change a very serious problem that should receive equally serious attention. While climate change has become heavily politicized, the insurance industry is keen to remain somewhat neutral on the matter, suggesting that the potential damages that can be associated with climate change are a more important subject than the cause of climate…