The vast quantities of personal, identifiable information collected by the leisure and hospitality industry have made the sector a chief target for cyber attacks, according to Willis.
The brokers cyber risk unit reports a 56% rise in cyber claims over the past year, with an increasing proportion of victims in the hospitality industry.
New research from Royal Bank of Scotland (RBS) has found that nearly one in five technology firms surveyed in the Thames Valley area have suffered a data security breach in the past 12 months.
While just over half of respondents had a crisis strategy in place in case of a serious security breach, a quarter had no such procedure.
RBSs corporate institutional banking unit is currently running a series of events across the country on IT security in conjunction with Sophos, and the partners have drawn up ten board-level tips for firms as follows:
1.
Lower bond returns have put pressure on insurers who rely on them to pay benefits.
When I bought my first insurance policy three years ago, I wanted it to do three things: Pay off my house; cover other expenses for family, and not cost myself hundreds a month in premium payments.
So I found a cheap policy for an amount my family could live with if I died, and I signed on the dotted line.
I didn’t find out what determined my rate, and my broker didn’t tell me.
If I had asked, I would have found out that, because of falling interest rates, my new policy was more expensive than it would have been if I bought it before the recession.
Life insurers invest premiums in the bond market and, when bond returns fall, the amount available to pay benefits declines and premiums may rise to compensate.
Life insurance premiums are calculated based on three factors, says Helena Smeenk Pritchard, a former insurance manager who now teaches financial professionals how to sell and discuss life insurance.
These are mortality, interest rates and company expenses.
Mortality covers health and age and has the biggest effect on premiums, but interest rates also have a significant impact on how much new policyholders pay, Smeenk Pritchard says.
The cost of insurance rises as people get closer to death, but payments are the same from month to month. So,
When you purchase a homeowner’s liability insurance policy, which is required by law if you own a house, you are probably aware that you are purchasing protections against fire, theft and other kinds of physical damage to your house. You may not be aware that you are also purchasing legal protection against lawsuits.
It’s an unhappy fact that we live in litigious times. Lawsuits abound, and even frivolous ones can be very expensive. Litigation laws are such that even if someone were to sneak over your fence at night and drown in your pool, you would still be legally liable. The same holds true for dog bites, slipping on your floor, or any other injury incurred on your property. It Full Article…
Auto insurance is very easy to find, especially now that there are more insurance companies offering different car coverage plans. The best way to start your search for the right auto insurance to purchase is by going online and using the right internet tool to help you. There are a number of benefits you can get from searching for auto insurance options online, and we are going to discuss them in this article.
For starters, you can save a lot of time and money by searching for auto insurance quotes online. Full Article…
Over 50% of today’s insurance buyers are students or young drivers, so it is not surprising at all to see insurance companies offering specialized deals and tailored insurance policies for this particular market segment. If you are a student and you want to get the best car insurance without spending too much money on insurance premiums, there are several auto insurance shopping tips for students that are easy to apply.
Instead of searching for insurance deals through brokers or agents – or by contacting insurance companies manually – you can save a lot of time and money by searching for auto insurance quotes online. Use a Full Article…
Managers and company directors have been urged by Higos Insurance Services to ensure that they have appropriate professional insurance so that their personal responsibilities and liabilities are covered.
The responsibilities of senior staff members were recently highlighted by the arrest of the Gleision Colliery Pit Manager, on suspicion of gross negligence manslaughter.
Higos Insurance Services Managing Director Ian Gosden said that company directors are now held personally responsible on an unprecedented level for actions and decisions made on behalf of the company.
Directors & Officers insurance is often used to cover the personal assets of individuals and their defence costs.
Higos has developed its offering to help company management make sure they have suitable insurance protection, including a site visit by an account executive who performs a risk assessment and offers advice.
Gosden went on to say that Directors & Officers insurance cover has evolved in recent years and its vital for every limited company.
Buying life insurance is not something that many people consider to be important. It can be difficult to justify buying life insurance because the popular notion is that you have nothing to show for your purchase. When you buy a car, then you can show people your new car. When you buy life insurance, all you can show people is a life insurance policy.
But there are several reasons why you should consider buying life insurance. It offers a level of protection that few other investments can give.