Industry

As cyber attacks increase, insurers in the space face rising losses

Amid rising losses and increasing claims on cyber insurance, companies that provide insurance against online hackers are facing growing risks, says Fitch Ratings. In a new report, the rating agency said that while cyber insurance has been a profitable line of business for several years, an increase in network intrusions, phishing, and denial of service […]

By Jason Contant | October 13, 2021

2 min read

Insuring a personal trainer depends on their employment status

A large part of a personal trainer’s job is making sure clients do their exercises safely. But personal trainers also need to protect themselves — using insurance. Each year, there are roughly 460,000 reported fitness injuries, according to the U.S. Consumer Product Safety Commission. Some of those injuries could result from working with a personal […]

By Melissa Shin | October 13, 2021

2 min read

The shifting trends in cargo theft

The COVID-19 pandemic has affected a number of P&C insurance industry segments from auto to business interruption, and cargo theft is no exception. Large events such as the pandemic will result in shifts to the methods and types of goods stolen by cargo thieves, said Scott Cornell, national practice leader, transportation, with Travelers’ inland marine […]

By Jason Contant | October 13, 2021

3 min read

How to prevent auto insurance fraud

There are honest drivers on the roads. In fact, a 2021 survey by ValuePenguin indicates that 78% of consumers say they’ve never lied to their auto insurers. However, 8% have “misinformed” their insurers about the drivers in their households, and 8% have lied about their home addresses. And a 2017 Ipsos poll found that 3% […]

By Melissa Shin | October 12, 2021

3 min read