Amid Flat or Lower Cyber Prices, Brokers See Demand for Coverage Soar

The first quarter of 2018 showed either average decreases or flat prices for cyber insurance coverage, according to recent survey from the broker community.

Marsh, in its Global Insurance Market Index, found renewal prices for cyber in the United States to be trending downward in the fourth quarter out of the last five quarters. The average decrease of 1.7 percent comes after 0.6 percent rise in the last quarter of 2017, down from a high of an average 20 percent on renewal in the second quarter of 2015.

Read more at https://www.advisenltd.com/amid-flat-or-lower-cyber-prices-brokers-see-demand-for-coverage-soar/

Erin Ayers, Amid flat or lower cyber prices, brokers see demand for coverage soar (May 21, 2018).

This story in an excerpt of the original. The content originally appeared in Advisen Cyber Front Page News.

Telemedicine & Cyber Risk: Time for a Check-Up

Telemedicine, the use of telecommunication and information technology to provide clinical healthcare from a distance, has revolutionized the delivery of healthcare services in recent years. However, with great technical advances come a wider spectrum of cyber threats, including telemedicine security risks.

While external threats coming from malicious actors are widely acknowledged, healthcare service providers must also pay attention to other sources of threats including employee error, unintentional disclosure, and insider threat.

In addressing telemedicine security risks, it is important to look for policies that combine the appropriate mix of professional liability, general liability and privacy and network security (cyber liability).

Visit https://www.advisenltd.com/2018/04/26/telemedicine-security-risks-cyber/ to learn more and download the full infographic.

Aspen Insurance | CRC Group | Advisen Ltd. April 2018. Telemedicine & Cyber Risk: Time for a check-up [Infographic].

Sound the Alarm: Keeping Data and Systems Safe From Intruders

Claims data is not enough to understand cyber risks – turning to the technology and security side can present the risk in a clearer light with the use of a wider range of data sources.

Based on Symantec’s 2018 Internet Security Threat Report, there are many considerations and questions to ask regarding technology and security that can help prevent a cyber attack. The aim is to provide a summary of current vulnerabilities, likelihood of being attacked, and ways to avoid attack.

Visit https://www.advisenltd.com/media/infographics/keeping-data-systems-safe/ to learn more and download the full infographic.

CyberCube. | Advisen Ltd. May 2018. Sound the Alarm: Keeping data and systems safe from intruders. [Infographic].

Notable Hospitality Losses: 2011 – 2017

With summer approaching in the US – and after a particularly LONG winter – I’ve been dreaming of the warm sun and some sand in my toes! Which naturally got me thinking about the hospitality industry and what types of losses these service-oriented organizations experience.

As one might expect, the hospitality industry faces a broad spectrum of risks. Some of the larger losses involve lawsuits that become class actions, which continue over a number of years. We dug into Advisen’s loss data to see who, what, and where some of these losses are occurring.

Read more at https://www.advisenltd.com/blog/hospitality-travel-tourism/hospitality-losses-2011-2017/

Charlene Farside. (May 2018). Notable Hospitality Losses: 2011 – 2017 [Blog].

This blog post in an excerpt of the original. The content originally appeared in Advisen Blog.

Big Nasty Claims: What Are The Large Loss Trends in Casualty?

June 12, 2018 11:00 AM EDT

Mass torts and class actions with the potential to exceed $100 million are a constant challenge to a business and its insurers. Carriers, lawyers and other advisors need exceptional skills to manage these claims for clients.

For more info and registration of this upcoming webinar, visit https://www.advisenltd.com/media/webinars/big-nasty-claims-casualty-large-loss-trends/

Advisen Ltd. June 2018. Big Nasty Claims: What are the large loss trends in casualty? [Webinar].

Romaine Lettuce E. Coli Scare Latest Case Driving Product Recall Insurance Interest

Romaine lettuce, airbags, mobile phone batteries – these are just a few of the prominent product recalls that have occurred in recent years, driving businesses to become more prepared for the financial and reputational risks associated with defective, mislabeled, or otherwise problematic products.

Heightened attention from consumer groups and federal regulators mean information about product recalls spreads more quickly and authorities become involved in detecting problems sooner. The spike in product recalls also means that more businesses, particularly in the food and beverage industry, are looking for insurance solutions.

Read more at https://www.advisenltd.com/romaine-lettuce-e-coli-scare-latest-case-driving-product-recall-insurance-interest/

Erin Ayers, Romaine lettuce E. coli scare latest case driving product recall insurance interest (May 14, 2018).

This story in an excerpt of the original. The content originally appeared in Advisen Professional Front Page News.

Quarterly D&O Claims Trends: Q3 2018

On Tuesday, October 30 Advisen will host a webinar that examines the D&O claims trends for the third quarter of 2018. Advisen’s Jim Blinn and a panel of experts will discuss the frequency and severity of securities suits in Q3 2018 and share their insights on emerging trends on securities litigation.

This is a free, one-hour webinar

For more info and registration of this webinar, visit https://www.advisenltd.com/2018/10/30/quarterly-claims-trends-q3-2018/

Advisen Ltd. October 2018. Quarterly D&O Claims Trends: Q3 2018 [Webinar].

Structuring Multinational Insurance

Eighty percent of mid- to large-size companies have some degree of multinational exposure, according to a recent study conducted by The Hartford. How can these firms mitigate risks that come with being a multinational company? 

What sophisticated multinational insurance solutions are available for the middle market? Find out in The Hartford’s and Advisen’s free, 6-page paper Structuring Multinational Insurance Programs for the Middle Market.

Read more https://www.advisenltd.com/resources/white-papers/structuring-multinational-insurance/

This story is an excerpt of the original. The content originally appeared in Advisen Media White Papers.

The Hartford | Advisen Ltd. May 2018. Structuring Multinational Insurance [White Paper].

Myth Busting Cyber Claims: There is More Than One Way to Manage a Cyber Claim

Amid the changing cyber-threat landscape, most businesses still believe that lawyers are better equipped to deal with high-stakes and high-stress scenarios involving cyber incident management.

What are the drawbacks of lawyer-led cyber claim project management? Why should companies take a situational approach to cyber claim management instead of following a one-size-fits-all model? Find out in CyberScout’s and Advisen’s free, 6-page paper Myth Busting Cyber Claims: There is more than one way to manage a cyber claim.

Read more at https://www.advisenltd.com/white-papers/cyber-claims-myth-busting/

This story is an excerpt of the original. The content originally appeared in Advisen Media White Papers.

CyberScout | Advisen Ltd. May 2018. Myth Busting Cyber Claims: There is more than one way to manage a cyber claim [White Paper].