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It’s possible the stark difference might be due to different starting levels of commercial versus personal policies…but the stats do indicate the growth of personal cyber insurance. “From June 2021…
“According to a report released by Marsh LLC last week, average cyber liability rates increased 54% in July compared with 133% in December 2021. Cyber rate increases are slowing but…
Read More “Growth of Cyber Insurance Rates Slows — But Premiums Still Going Up ” »
“’So I think we should have reference standards appropriate for SMEs that would be a real target for them to know what they should do to implement cybersecurity. If we…
Read More “Europeans Want to Beat US Regulators to Cyber Standards that Support Insurance ” »
The L.A. school system reportedly has cyber insurance, but how much it will cover is unclear. The system had failed to address security deficiencies identified in 2020. The range of…
Read More “Hack of L.A. Schools Highlights Complexity and Costs of Attacks on School Systems” »
“’The investigation has concluded that no evidence of any compromise was found and as such Lloyd’s has been advised that its network services can now be restored,’ a Lloyd’s spokesperson…
Read More “Lloyd’s Declares “All Clear” After Report of Possible Hack ” »
Resilience CEO Mario Vitale recounts how his company found a vulnerability in the system of a client…and the client was still procrastinating about fixing the problem when the policy’s renewal…
Read More “Some Shrewd Underwriting in a Complicated Market” »
Fintech VC Canapi Ventures led the round in Elpha, which claims to be the first cyber insurance startup “to combine proprietary cybersecurity software with coverage to improve risk transfer.” Fused…
From the Dept. of Treasury — SUMMARY: Over the past several years, the Federal Insurance Office (FIO) in the U.S. Department of the Treasury (Treasury) has continued its ongoing efforts…
Growth of cyber reinsurance is limited by inadequate risk assessment tools and capital limitations… “Cyber limits have contracted, and insurers have significantly increased rates so the profitability of the portfolios…
Read More “Reinsurers Face Challenges in Cyber Insurance Market ” »
Concerns include clauses provided by Lloyds that define a “primary but not exclusive factor” for triggering an exclusion as a national government confirming it’s been hit by a nation/state cyberattack….
Read More “Worries About Implementing Lloyd’s Plan to Exclude Acts of War from Cyber Insurance ” »