Insurance is all about managing risk, whether it's protecting property from fires, earthquakes or floods; vehicles from deer or close encounters with other cars; providing payment for injured workers; securing business interruption coverage for dozens of possible perils; or guarding against a major data breach.
Policyholders purchase insurance to protect them against the unexpected. The risks keep changing — and so do the types of coverage required.
Over the past year, the number of data breaches from either malware or hacking rose substantially according to London-based Beazley, a provider of data breach response insurance. The Beazley Breach Response Services unit responded to 60% more data breaches in 2015 compared with the previous year, and the company says that 32% of all incidents in 2015 were caused by hacking or malware, compared with only 18% in 2014.
Recommended For You
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 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.
