Tag: new insurance product

Chubb introduces new insurance product focused on cybercrime and fraud

S.Vagus
Cyber Insurance industry popularity

Chubb aims to provide health care provider with new protections The Chubb Group of Insurance Companies, the eighth largest property/casualty insurer in the U.S., has announced the launch of a new insurance product that is aimed at helping small to mid-sized health care organizations manage cybercrime and fraud. Data breach has been a serious issue for many industries and may soon become a serious problem in health care. Per the Affordable Care Act, most health care records are to be stored electronically. The law also paves the way for a…

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CNA unveils new insurance product for kidnap, ransom, and extortion

Marc
Kidnap-insurance

Continental National American Group (CNA) has announced that it is now selling an insurance product for kidnap, ransom, and extortion. The insurer explained that this product is designed to reflect the company’s understanding that events relating to security have broadened and can occur anywhere around the globe. Therefore, this coverage takes a step beyond the traditional spectrum of security-related event coverage in order to include any situations of this nature that can be experienced by any size of company in virtually every industry. The Kidnap, Ransom, and Extortion insurance from…

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A new insurance product to protect companies participating in cloud computing services

Nordstrom

Cloud computing is becoming a major phenomenon in the world of technology. The concept is simple: A collaboration of computing resources, software and other technologies that are offered as a service rather than a product. This brand of service is becoming popular in a number of industries as it allows companies to make use of high-performance technologies without having to rely on their own computers or devices. Essentially, the computer servers that comprise the cloud provide all the power, through which computers at a home or office operate vicariously. As…

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Travel insurance to cover your trip into space

Marc

It is predicted that this year will bring the first commercial flights into space, and with them, those space tourists will also be purchasing travel insurance to provide them with additional coverage for their trips. Among the leading space tourism companies is Virgin Galactic, which is offering coverage directly through its website, though these travelers can also speak with their travel agents if they want to obtain the coverage they need, just as they would for any other type of traditional vacation. Though the ultra-wealthy have already been taking space…

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Irish Financial Services Group offers price drop protection product to homeowners

H. Cutner

In the hope to help revive the struggling real estate market, Irish Financial Services Group (IFG) is preparing to offer home buyers the opportunity to purchase insurance against a price drop in the future from the price that they have paid. Home prices have continued to fall for 42 consecutive months since the bottom fell out of the property market after years of careless lending. Since the peak in 2007, the prices have fallen by 43 percent. The offer from IFG would allow house sellers to place up to 20…

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Chronically ill patients can receive patient for life insurance from The Hartford

Nordstrom

Chronically ill clients of The Hartford can now benefit from a new patient for life insurance system that has been awarded to the insurer, to advance the death benefit of a policy in order to offer those patients an income. For the first time in the insurance industry, consumers will be able to obtain an income from the LifeAccess Accelerated Benefit Rider® system, which provides chronically ill patients with an income that they can use for whatever they want, including paying family or friends to provide them with home care.…

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Insurance leader unveils new CyberRisk product

Nordstrom

Travelers Bond & Financial Products has released their latest product, CyberRisk, which has been designed to minimize the cyber exposure and connected risks to their business clients.  According to the product manager of the leading insurance company, Jason Glasgow, “Cyber risks leave businesses exposed regardless of size, industry or track record.”  He explained that though organizations may put many powerful strategies into place in order to limit their exposure opportunities, there remain a large range of additional risks beyond obtaining data within a single hacker attack.  Cyber liability for a…

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