Search
 

Cybercrime risks continue to plague insurers

As companies begin to comprehend the dangers, insurers are seeing the number of cyber policies double.

By Patricia Harman | Updated on April 13, 2015

Cybercrime continues to raise risks for insurers and their customers, and the dangers are evolving and becoming more global in nature.

At the recent PLRB conference in Anaheim, Calif., Christina Terplan of Clyde & Co. said that a breach last year in South Korea impacted 70% of that country’s population. She explained that losses in the U.S. are usually larger than in other countries because of the information accessed, but she cautioned that cybercrime involves a lot more than just losing customer data. Some hackers now have records going to duplicate sites so nothing seems amiss, and others are just deleting information to damage a company’s reputation.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.