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Most survey respondents said clients had been reimbursed for ransomware payments. One broker reported 30+ payouts in the first half of 2021. “Commercial insurance prices moderated across all account sizes…
Read More “Cyber Prices Soar 25.5% in Q2 as Ransomware Payouts Increase” »
“The National Institute of Standards and Technology will work with Microsoft, Google and the insurance industry companies Travelers and Coalition to create a new framework designed to help guide the…
Broker urges patience as industry develops sustainable approach to ransomware and other cyber issues…unfortunately, the cyber crooks are anything but patient. “Obviously, you can see just how difficult it is…
Read More “Cyber Losses Trigger “Domino Effect” For Cybersecurity Insurers & Brokers ” »
The breach involve employee emails. “The company then conducted a manual review of the emails to determine whether they contained sensitive information. This process, completed on June 30, 2021, showed…
Read More “Weeks After Going Public, Ryan Specialty Group Suffered Cyber Breach ” »
“It’s not an easy path to navigate, (Nick) Shah (a former kidnap and hostage negotiator) said, and it is made even more complex by the fact that cyber negotiations tend…
Kocsondy was formerly an SVP at Chubb. Source: Beazley hires Patricia Kocsondy as Head of US Cyber & Tech – Reinsurance News
This reminds us of the push after 9-11 for the US government to share terrorism losses with the insurance industry, which led to the Terrorism Risk Insurance Act, or TRIA….
Read More “Public-Private Cyber Insurance Partnership is Needed: CEO of Zurich Insurance ” »
File this under “important if true.” We put limited credence in the specifics of market reports such as these, but the combined trendlines produced by these various reports indicate rapid…
Read More “21% CAGR for Cyber Insurance Market from 2021-2031: Report ” »
“The Act establishes investigation procedures, data security program standards, and notification requirements for anyone licensed by Wisconsin’s Office of the Commissioner of Insurance (licensees), including insurers and agents. Exempt from…
Read More “Wisconsin Joins Maine and Iowa as Recent Adoptees of New Cybersecurity Insurance Law ” »
The report asserts the industry is putting too much emphasis on MFA as a defense when more attacks come via social engineering or unpatched software and Remote Desktop Protocol (RDP)-involved…
Read More “Are Cyber Insurers and their Clients Putting Too Much Trust in MFA (Multifactor Authentication) to Stop Ransomware? ” »