Direct written premiums for cyber insurance worldwide could rise to $23 billion by 2025, with U.S. businesses paying about 56 percent of the total, according to the Triple-I latest Issues Brief. See also: Triple-I Issues Brief and Triple-I Blog.
The loss of personal data and operational obstacles caused by cybercrimes is a big concern to insurers. NAIC President Andrew Mais says cyber resilience should become part of the insurance industry’s matrix to protect consumers. See video: Cybercrimes & insurance protection; Articles: Cyber insurance can protect the future of your business or Cyber insurance: a key part of a robust business strategy.
To amplify the Triple-I commitment to Diversity, Equity, and Inclusion (DEI) in the workplace, Triple-I partnered with HBCU IMPACT®, whose mission is to increase the number of Black professionals in the insurance, risk management, financial services, and legal industries. View videos: HBCU Impact.
DIMINUTION OF VALUE- The idea that a vehicle loses value after it has been damaged in an accident and repaired.
EXCESS OF LOSS REINSURANCE- A contract between an insurer and a reinsurer, whereby the insurer agrees to pay a specified portion of a claim and the reinsurer to pay all or a part of the claim above that amount.See Full Glossary
For immediate release West Coast Press Office: Janet Ruiz, 707-490-9365, email@example.com SAN FRANCISCO, Feb. Read More
For Immediate Release Contact: Michael Barry, 917-923-8245, firstname.lastname@example.org NEW YORK, Feb. 7, 2024—Direct written premiums for cyber insurance worldwide could rise to $23 billion by 2025, with U.S. Read More