Remove Financial Loss Remove Insurance Industry Remove Premium
article thumbnail

The latest reports from FBI and ITRC reveal that cyber incidents in 2023 broke records for financial loss and frequency.

Triple-I: Business Insurance

Email compromise, cryptocurrency fraud, and ransomware increase In addition to record-high financial losses from cybercrimes overall in 2023, the report revealed trends across crime methodology and targets. Gross direct written premiums climbed to USD 13 billion in 2022. billion in 2022 to $3.94

article thumbnail

How the Climate Crisis is Impacting the UK Property Insurance Market

Property Insurance Centre

Get a Quote Insurance under one roof We are specialists in many types of insurance GET YOUR QUOTE GET YOUR QUOTE Storms Cause Huge Insurance Payouts Other storms, including Storms Ciarán and Henk, contributed to insurers paying out £1.4 The insurance industry has had to adjust premiums to reflect this growing risk.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How Climate Change is Shaping Insurance Policies for Commercial Properties

Protect Commercial Insurance

As we face more frequent and intense extreme weather events, insurers are re-evaluating their policies to better manage these growing risks. Businesses now need to consider how climate change might impact their insurance premiums and coverage. However, the unprecedented nature of climate change has made past data less reliable.

article thumbnail

Emerging Trends in Commercial Insurance: What to Watch Out for in 2024

Protect Commercial Insurance

The Rise of Cyber Insurance As cyber threats become more sophisticated and frequent, the demand for cyber insurance has skyrocketed. Companies of all sizes are increasingly targeted by cybercriminals, and the consequences can be devastating—from financial losses to reputational damage.

article thumbnail

Emerging Property Insurance Trends 2024

Property Insurance Centre

Emerging Property Insurance Trends 2024 Welcome to our guide on emerging trends in the property insurance industry. As we dive into the evolving landscape of property insurance, it’s important to stay informed about the latest trends and challenges affecting the market.

article thumbnail

Understanding Multi-Family Property Insurance in California.

Jackson & Jackson

. “Understanding Multi-Family Property Insurance” Commercial property insurance is a vital safeguard for property owners, protecting their assets against various risks. It covers property damage, loss of income, liability claims, etc.

article thumbnail

Understanding Consumer Education and Property Insurance

Property Insurance Centre

The Importance of Consumer Education Consumer education is a critical aspect of making informed decisions regarding insurance coverage and navigating the complexities of the insurance industry. By gaining insurance knowledge , individuals can protect their property effectively and avoid falling victim to insurance scams.