Nearly 40% of policyholders who have purchased cyber insurance over the past six months have increased their coverage levels, according to a survey by the Council of Insurance Agents & Brokers issued Wednesday.
Meanwhile, the average takeup rate for cyber insurance increased to about 29%, compared with the 25% reported in the Washington-based council’s semiannual April 2016 survey. Continue reading
The marketplace for commercial insurance will continue to favor insurance buyers in 2017, particularly those with strategic risk management and risk transfer strategies, according to Willis Towers Watson’s 2017 Marketplace Realities report.
The report points to strong marketplace capacity as a key driver in market conditions and contends that this ample capacity will likely allow insurers to absorb any natural catastrophe losses in 2016, including those from Hurricane Matthew and the Atlantic hurricane season. Continue reading
The architects of the Affordable Care Act thought they had a blunt instrument to force people — even young and healthy ones — to buy insurance through the law’s online marketplaces: a tax penalty for those who remain uninsured. Continue reading
Self-driving cars hold the promise of saving thousands of lives each year on U.S. roads. But does pointing out flaws with the technology effectively put people in danger?
That claim was put forth last week by Tesla Motors CEO Elon Musk, who criticized the media for harping on the relatively few crashes involving Tesla’s semi-autonomous driving system called Autopilot, while saying little about the about the 1.2 million people who die worldwide each year in human-driven vehicles. Continue reading
ATLANTA — Cyber liability insurance is offered by most big-name insurers, but it remains, and will continue to remain for the foreseeable future, largely an excess and surplus lines product.
The changing nature of the coverage and the size of the risks involved make it a natural for the nonadmitted market, experts say. However, admitted insurers have made inroads into the cyber liability insurance sector and will likely grow their share, they say.
David J. Bresnahan, Boston-based executive vice president of Berkshire Hathaway Specialty Insurance Co., said he estimates that some 90% of cyber insurance business is in the nonadmitted market. Continue reading
A new study from the University of Iowa College of Public Health has found that traffic accidents involving farm vehicles in the Midwest would decrease by more than 50 percent if state policies required more lighting and reflection on those vehicles.
The study by the college’s Great Plains Center for Agricultural Health (GPCAH) compared rates of farm equipment–related crashes in nine Midwestern states in the context of the states’ policies on lighting and marking vehicles. Those states report an average of more than 1,100 farm vehicle-related crashes each year, often causing severe or fatal injuries. Continue reading
Once you’re in your 20s, it’s time to look around for a primary care doctor who knows how to take care of adults. Because most young adults are essentially healthy, they may not feel any sense of urgency, but part of growing up is taking control of your health and your health care. Getting sudden problems like sore throats and sprained ankles seen to in an emergency room or a walk-in clinic is convenient, but you should have an ongoing relationship with a health care provider who can think about all the different aspects of your health. You need a medical home, and you want to establish it before you have a major problem. Continue reading
U.S. bank regulators on Wednesday outlined cyber security standards meant to protect financial markets and consumers from online attacks against the nation’s leading financial firms.
Leading banks will be expected to use the most sophisticated anti-hacking tools on the market and to be able to recover from any attack within two hours, said officials briefing reporters on the plan. Continue reading
