[December 15, 2014]

A.M. Best Special Report: A.M. Best Fall 2014 Insurance Industry Survey Focuses on Cyber Risk

Cyber risk remains a fast-growing emerging risk for the insurance industry. Similar to other financial services sectors, the insurance industry is vulnerable to potential attacks on its vast amount of policyholder data. A.M. Best's fall survey focused questions on both an insurer's susceptibility to cyber-attacks and, for P/C underwriters, current product offerings targeted at potential exposure to cyber-related losses. The survey results uncovered some interesting industry trends for life/annuity, health and property/casualty (P/C) insurers and are detailed in a Best's Special Report titled, "A.M. Best Fall 2014 Insurance Industry Survey."

The second part of the survey focused on insurers' current use of social media in their marketing plans. In 2012-2013 more companies had developed a social media presence, and they were beginning to track this growing outlet and create new apps to attract younger customers who are more apt to do business on mobile devices. In this survey, A.M. Best provides an industry update on where many carriers stand with their social media presence and tries to provide some metrics to help compare various segments of the market.

For a full copy of this special report, please visit: http://www3.ambest.com/bestweek/purchase.asp?record_code=231780 .

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

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