Cyber Insurance Blog

In February 2024, United Healthcare subsidiary Change Healthcare fell victim to a devastating ransomware attack. The United Healthcare breach, called the “most significant cyber attack on the U.S. healthcare system” by the American Hospital Association, disrupted vital healthcare operations nationwide. The attack on Change Healthcare, which processes more than 15 billion transactions yearly—about one-third of U.S. patient records—highlights the constant…

According to chief information security officers (CISOs), in 2023, three out of four U.S. companies faced the risk of a significant cyber attack. Analysts project cyber crime to cost the U.S. more than $452 billion in 2024, potentially reaching $1.8 trillion by 2028. For most companies, a cyber breach isn’t a question of if but when. So, how should your…

Contractors in the construction industry are not immune to cyber attacks. Ransomware attacks, phishing scams, and other types of cyber attacks can result in data breaches and other incidents that cause financial loss, reputational harm, and legal consequences. Cyber Insurance for contractors is an essential safety net. How can you stress the need for Cyber Liability Insurance for contractors to…

When you think about cyber risks, you probably think about the dangers malware attacks, data breaches, and other incidents pose to your business clients’ operations, revenue, and reputation. You’re right to do so. But cyber threats can pose risks to not only sensitive data but also to physical safety. Contingent bodily injury cyber attacks can cause physical harm, directly or…

Today’s dynamic business environment and litigious society pose several risks to businesses. As they seek to secure the insurance they need to protect themselves, some companies’ decision-makers may get confused about E&O vs. EPLI policies. Both types of policies involve legal liabilities and are important. But when you help your business clients appreciate the difference between E&O vs. EPLI, you’ll…

Taking a retail business online opens up many opportunities for entrepreneurs and consumers. An online retail platform allows retailers to tap into a global marketplace without the overhead costs of a physical store. Customers from anywhere can access products with the click of a button. However, a digital storefront has its pitfalls. As our shops go virtual, so do the…