Live Insurance News

Strange insurance claims rise as a result of fur, feathers and creepy-crawlies

April 4, 2017March 30, 2017 Julie Campbell

bedbug animal related strange insurance claims

Everything from peacocks to bedbugs are leading to a rise in filings with insurers in the United States. Strange insurance claims resulting from animal-related incidents are on the rise in the United States. Everything from aggressive peacocks to hotel room bedbugs are sending people to their insurers for reimbursement of their losses. This insurance data was published by Allianz SE in a report based on a recent study it conducted. Strange insurance claims in the United States involving bedbugs rose by 50 percent from 2014 to 2015, according to Allianz…

The cyber insurance market will explode to $10 billion in 5 years

September 8, 2015September 6, 2015 G. Turner

Still, the market remains primarily untapped, despite the tremendous potential it holds. It may not come as a shock to anybody that the cyber insurance marketplace is taking off and that it was recently estimated that by the year 2020, it will be worth about $10 billion, but what is shocking is the speed that it will reach in order to get there. The growth rate that it has been achieving has made it the top product in the commercial insurance sector. The forecast of the worth of the cyber…

Insurance news sparks as Macau Casinos buy coverage against abductions

September 2, 2015September 1, 2015 Julie Campbell

A rash of kidnappings of guests has caused the hotels and gambling destinations to purchase the policies. In a trend that is being blamed on the rough economic struggles being faced on the Chinese mainland, the hotels and casinos of Macau are experiencing a wave of guest abductions that are now making insurance news as these establishments buy policies to cover themselves. The kidnappings of wealthy guests are occurring over the matter of unpaid gambling debts. With the falling numbers of people who head to the Chinese Special Administrative Region…

Cyber insurance gets a shot in the arm from the U.K. government

November 11, 2014November 8, 2014 Julie Campbell

The government is encouraging businesses to better mitigate their risks through this type of policy. The government of the United Kingdom is seeking to increase the adoption of cyber insurance as a method of bettering the way that organizations within the country are able to manage the risks associated with issues such as data breaches. Companies of all size and security protection are experiencing data breaches and cyber attacks at a growing rate. At a summit that was hosted with a number of CEOs from the cyber insurance industry, the…

Insurance Noodle launches new cyber insurance package

July 21, 2014July 19, 2014 S.Vagus

Cyber protection is becoming more important Insurance Noodle, a small but ambitious insurance company, has announced that it is offering a new package of commercial insurance coverage that is designed to protect the risks that are being seen in the technology sector. The new package provides coverage plans for technology professionals, such as programmers, web developers, software designers, and app developers. There are also plans associated with the package that provide coverage for IT consultants and those working with staffing firms. Cyber liability coverage is something many businesses need, but…

Cyber liability insurance interest spikes following major data breaches

February 20, 2014February 25, 2014 Julie Campbell

Recent news headlines from large trusted companies such as Target and Kickstarter have caused serious worry. With a steady stream of data breaches at major corporations continually making recent news, the need for cyber liability insurance has become much clearer and companies are starting to take action by buying at a higher rate than they have done in the recent past. Businesses are starting to realize that nobody is really safe against a determined online criminal. Target recently revealed that hackers had broken into their files and had stolen the…

Industrial insurance on the rise due to cyber threats

November 20, 2013November 19, 2013 Julie Campbell

This, according to a recent announcement made by Allianz, the largest insurer in Europe. Allianz, the biggest insurer in Europe, has just revealed that its analysis of Eastern Europe, Asia, and Brazil is experiencing an increase in cyber threats and that this is driving industrial insurance revenue. The insurer, based in Munich, has determined that this unit will experience growth from this risk. According to chief executive officer, Axel Theis, of Allianz’s Allianze Global Corporate & Specialty industrial insurance unit, “New products such as cyber-risk protection and coverage for renewable-energy…