CAMBRIDGE — Steve Robinson, area president of Risk Placement Services, recently took part in a one-hour panel discussion highlighting third-quarter cyber risk trends. The Advisen webinar, attended by risk managers, insurance buyers and property/casualty professionals also featured representatives from Axis Capital, Aon and Advisen.

Noting there is much greater interest in purchasing cyber insurance among large businesses than mid-sized businesses, Mr. Robinson said: “We’re still in the phase where the take-up rate has been much lower on the small and middle market space for cyber in general, but we’re also seeing that the adopters that are buying are still more focused on breach response.”

Mr. Robinson continued: “I think we still have a great knowledge void in the marketplace, not only (on the part of) the buyer but also the seller in some cases, with respect to business interruption. This includes an understanding of what the triggers are for various industries under various types of policies, particularly among smaller businesses. it will be important for them to work with agents and brokers who really understand this coverage,” he stressed.

On a local level:

For over 30 years, Risk Placement Services has been devoted to assisting medium to large-sized businesses in obtaining the most comprehensive insurance coverage at the most competitive rates. Across the Delmarva Peninsula and in all 50 states, progressive companies and their agents are choosing RPS to protect their businesses.

RPS’s Cambridge, team has been honored as the RPS “Branch of the Year” by their national office, “Business of the Year” by the Maryland State Chamber of Commerce and recognized by National Underwriter magazine as one of the “Top five sales agencies in the U.S.”

For more information about Risk Placement Services in Cambridge, call 800-336-5659, email techcyber@rpsins.com or visit the website at www.rpsins.com.