L Squared Insurance Agency Blog: cyber insurance
View the latest blog posts from L Squared Insurance Agency.
Tuesday, September 20, 2022 What would you do if you came in Monday Morning and your computers and phones were locked up? Many firms experience this unfortunate surprise. Cyber Insurance is More Important than People Realize. Get a Quote Contact Me Today READ MORE >>
Wednesday, August 17, 2022 With people working remotely data breach and intrusion protection are more important then ever. Data Breach and Ransomware Attack frequency has never been higher. Cyber Insurers are experiencing exponential increases in claim frequency and severity. Insurers are reporting triple digit increases in Ransomware Claims. READ MORE >>
Thursday, July 28, 2022 Over the past few years, cyber insurance was cheap—low rates, high limits, more than enough coverage to go around, and flexible contracts with little to no underwriting. But today’s cyber insurance marketplace is quite different. With rising cyber risk and loss ratios, cyber insurers have raised premiums. READ MORE >>
Monday, July 25, 2022Business interruption coverage is an essential insurance needed by all businesses. The costs of restoring a business’s operations can easily exceed the actual cost of repairing the damage. The length of time a business is not in operation can put you out of business. READ MORE >>
Thursday, July 21, 2022With cyber claims continuing to skyrocket, in addition to insurers raising rates, insurers are also tightening underwriting. One of the critical questions now being ask is if the firm has multifactor authentication (MFA). We know of at least one claim where an insurer is denying coverage because the firm did not have MFA but answered on their application that they did. READ MORE >>
Wednesday, June 1, 2022Here are examples of past cyber claims: 1. Your client is about to close on a business deal that you and the client have been working on months. The money transfer is scheduled by close of business on Friday. Unbeknownst to you and your client, months ago cyber-criminals hacked your client’s e-mail. READ MORE >>
Tuesday, November 16, 2021 This is from a recent e-mail from Prowriters. Good Advice for everyone: If renewing your Cyber insurance policies has become harder, it’s likely because carriers have become more vigilant about making sure organizations they cover have certain critical controls in place. READ MORE >>
Tuesday, November 16, 2021Business interruption insurance coverage is an essential coverage needed by all businesses. It is common that the costs of restoring a business’s operations can easily exceed the actual cost of repairing the damage that caused the business interruption. If the firm’s building has a fire, it can take months to repair the building. READ MORE >>
Wednesday, September 22, 2021Cyber Security is a must of all businesses. Cyber Insurance is a key piece of Cyber Security. Cyber Insurers are now starting to require the implementation of email authentication. The following are controls that with help of a cyber security vendor can be implemented within 24 hours. READ MORE >>
Wednesday, August 18, 2021With people working remotely data breach and intrusion protection are more important then ever. The frequency of Data Breaches and Ransomware Attacks has never been higher. Cyber Insurers continue to have an exponential increase in claim frequency and Ransomware payment amounts continue to increase. READ MORE >>
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