PCIT PLUSNews and Updates in the Property & Casualty Insurance Industry – A KMG Initiative

Ins-3

INSURERS USING DIGITIZATION TO THEIR ADVANTAGE!

The insurance industry is going through a significant digital transformation. An upsurge in insurtech investments has shaken the insurance industry to its core.Â

cyber insurance

Cyber Insurance becomes a Priority for Most Organizations – Survey

A recent RIMS Cyber Survey revealed the importance of cyber insurance for organizations these days. As per the survey, which polled 270 risk management professionals, 80 percent of the respondents said that their company has bought cyber insurance, a significant rise of 29 percent from the previous year. The reasons for the spike are contractual mandates, higher availability, and rising awareness.

increasing-cuyber-risk

Increasing Cyber Risk A Growth Opportunity For P&C Insurers

  With the Internet of things and the increase in cyber-attacks, insurance will go through a paradigm shift. The year 2016 will see many more changes in this sector including the addition of focused digital technologies like data analytics, social media, telematics, autonomous cars and these and more will continue to transform the insurance landscape. Â

Cloud-Technology-Could-Be-the-Next-Big-Cyber-Risk

Cloud Technology Could Be the Next Big Cyber Risk – Insurance Business America

Major headlines like the Target credit card breach have increasingly  be the next cyber risk and put cyber liability insurance on the radar for businesses of all shapes and sizes. However, as the American workplace shifts from a traditional office to a mobile, technologically connected workforce, choosing the correct coverage becomes a trickier process for producers working with commercial clients.

44-Companies-Have-Already-Filed-a-Cyber-Insurance-Claim-with-Their-Carriers

44% Companies Have Already Filed a Cyber-Insurance Claim

  In a survey by Wells Fargo, it was reported that nearly half of the companies surveyed that have cyber-insurance and data privacy insurance have filed a claim with their carriers.