For the first time in 20 months, average commercial insurance rates measured a slight increase, according to the now quarterly MarketScout pricing survey.  While the major drivers were large increases in commercial auto, transportation, professional liability and directors & officers, small rate increases were recorded in the majority of coverage and industry classifications.
      Rate changes in business interruption, inland marine, workers compensation, crime and surety all held steady in the first quarter, but pricing for all other coverages either moderated or increased.   Personal lines rates, meanwhile, held steady in Q1 2017 with an average increase of +2% - the same number that closed out last year. 

Every organization, of every size and operational orientation, needs cyber insurance to manage its exposures in this age of networked information.

     No organization is off the radar for bad actors who relentlessly seek the weakest links for accessing valuable personal and financial information, threatening to shut down an operation, or seeking to do physical damage.

     As organizations increasingly recognize the imperative of purchasing cyber insurance, they are still confronted with a complex variety of policy forms and coverages, and a daunting application process.  Cyber insurance is available from about 70 carriers, most of them with very different coverage features, triggers, definitions, and exclusions. Get a comprehensive overview of the current realities of risk and insurance from  the  recent 2017 Cyber Liability Symposium.
Read more . . .   Source: Insurance Journal