The Growing Demand for Cyber InsuranceCyber attacks have become increasingly prevalent in today’s digital landscape. As businesses strive to protect themselves from these threats, the demand for cyber insurance has surged. But just how big is this market, and why do so many companies feel inadequately protected? The Statistics Speak: A Stark RealityAccording to recent […]

Read More

Insurance Company ExodusMore insurance companies are pulling out of certain states. In this case, State Farm, one of the biggest insurance companies in the country, has pulled out of the state of California. They’re canceling policies, non-renewing policies, and not making offerings for even homeowners. What to Do if You Have a State Farm PolicyIf […]

Read More

Unprecedented Losses in the Insurance IndustryState Farm Insurance Company, among the largest captive insurance agencies, faced staggering losses in 2023, as reported by Insurance Business. Despite having more policies, their underwriting losses amounted to $4 billion, surpassing their earnings of $87 billion. This unprecedented loss, a record in their century-long history, compelled them to halt […]

Read More

In the modern digital landscape, the threat of cyberattacks looms larger than ever before. According to recent statistics, there is a cyberattack every 39 seconds in the US. This alarming frequency highlights the pressing need for businesses to prioritize cybersecurity measures. Rising Sophistication of Cyber AttacksNot only are cyberattacks becoming more frequent, but they are […]

Read More

The Current State of the Insurance MarketIf you’re a homeowner or have automobile insurance, you may have noticed unsettling changes in your coverage. Whether it’s the sudden cancellation of policies, soaring rates, or non-renewals, these issues are not confined to specific states anymore. What was once a problem limited to states like Florida or California […]

Read More

In the realm of corporate fraud and embezzlement, staying informed about the latest trends is crucial. The Association of Certified Fraud Examiners (ACFE) has conducted a comprehensive survey targeting various stakeholders to shed light on prevalent fraud occurrences across different types of organizations. Fraud Perpetrated Across Different Organizational SectorsThe survey conducted by ACFE provides valuable […]

Read More

In recent times, the landscape of cybersecurity has taken a dark turn. Ransomware groups are wreaking havoc among corporate America, breaching even the most prominent companies. A concerning realization emerges as major firms, including industry giants like Boeing, fall victim to these attacks. The question looms: if Boeing can be compromised, what chance do smaller […]

Read More

Inflation is starting to affect insurance premiums, particularly in areas like vehicle and auto policies. The Wall Street Journal highlights how insurance costs are on the rise due to various factors, including the return to normalcy in the U.S. and increased expenses in claims payouts. Factors driving premium increasesInsurance premiums are influenced by the costs […]

Read More

As a business owner, regardless of the size or nature of your business, ensuring proper insurance coverage is paramount. Whether you operate a small mom-and-pop shop, a home-based business, or a large commercial enterprise, safeguarding against potential risks is essential to protecting your financial interests and the longevity of your business. Protecting Against LiabilityOne of […]

Read More

Businesses are facing a significant surge in cyber insurance rates, with increases of up to 60 percent for optimal risk profiles. The severity of risk plays a crucial role, and businesses deemed less optimal are experiencing rate hikes of 100 percent or more. Impact on Existing PoliciesIf you already have a cyber insurance policy, the […]

Read More