The Leading Source for Cybersecurity Insurance News, Insights and Data
LIkely a confusing and counter-productive take, in our opinion. DHS is now, in effect, raising questions about whether businesses should get cyber insurance. Or is the agency implying businesses self-insure…
Read More “Feds Discourage Cyber Insurance — at Least for Ransomware (Congressional Testimony)” »
Where do premiums end up? And with what controls and limits? “‘For all the work done by the cyber insurance marketplace to achieve rate, there still needs to be a…
Read More “Correction Coming in Cyber Insurance Premiums: Tokio Marine ” »
[NY State appeared to gain jurisdiction via Carnival’s former insurance business.] “New York’s Department of Financial Services said Carnival violated a state cyber security regulation by failing to use multi-factor…
“Law firms have this treasure trove of information. Statistically, they’re about six times more likely to pay the first ransom demanded, rather than negotiate it…and I have to tell them,…
Read More “Who’s a “Radioactive” Customer for Cyber Insurers? Law Firms ” »
Standalone cyber policies now the majority… “Standalone policies are more often subject to claims, given that more-sophisticated clients with more data and financial resources typically purchase these policies. Despite the…
Read More “Underwriting Performance for US Cyber Insurance Improved Last Year: Reinsurance News” »
According to the report, US FIO and CISA agree with this recommendation: “The Department of the Treasury’s Federal Insurance Office (FIO) and the Department of Homeland Security’s Cybersecurity and Infrastructure…
Read More “GAO Prods Feds to Assess Their Potential Response to Catastrophic Cyber Attacks ” »
“…17.3%** of SMEs did not have cyber insurance in 2021 due to it being too expensive, while 29% cancelled their policy to cut costs. Smaller businesses were found to be…
Read More “Small Businesses Cancelling Cyber Insurance Just When They Need It Most: GlobalData” »
Jon Bateman, senior fellow in the cyber policy initiative of the Technology and International Affairs Program at the Carnegie Endowment for International Peace: “’If we see a true cyber catastrophe…
Read More “Would Cyber War Force US Government to Bail Out Losses? ” »
“Managing clients’ expectations suddenly became an even bigger part of the broker’s role, (Patrick Bourk, principal and national cyber practice leader at HUB International Ontario) explained, particularly when it came to…
Read More “A Growing Challenge for Cyber Insurance Providers: Managing Client Expectations” »
“The make-up of who buys cyber insurance has also shifted, wrote Marsh. Increased technology adoption and the associated heightened cyber risk has led to a significant increase in insurance buying…