The Leading Source for Cybersecurity Insurance News, Insights and Data
“(O)verall claims frequency decreased by 22% year-over-year. Furthermore, Coalition policyholders experienced 64% fewer claims than the broader cyber market1, with 47% of reported events handled with no cost to the…
Stand-alone policies reflect growing acceptance of cyber as a unique and critical category requiring more complex underwriting by carriers and increased attention from policy holders. “Standalone coverage is 70% of…
Read More “Most Cyber Insurance Premiums Now for Stand-Alone Coverage: Fitch” »
“Mosaic has announced it will be underwriting primary cyber insurance globally, offering US$20 million in capacity across its network of underwriting hubs…Yosha DeLong, global head of cyber at Mosaic, says:…
Read More “Mosaic: We’re Going Global with Primary Cyber Insurance ” »
Marsh reports claims were up 77% in Q1 2023 compared with the previous quarter. Resilience reports the same trend. “One possible explanation for the resurgence is that ransomware purveyors based…
“Misreporting about the LMA (Lloyd’s Market Association) exclusions – specifically that Lloyd’s war exclusions do not cover state-sponsored cyber attacks – has been “deeply unhelpful,” said Andrew Hill, global head…
Read More “Roll Out of Lloyd’s Cyber War Exclusion Dazes and Confuses Market ” »
A new CEO has joined Lodestone, a wholly-owned sub of Beazley. The insurer has a ready-made client base for Lodestone, suggesting vertical integration of cybersecurity solutions — services to insurance…
“After ‘careful consideration,’ county officials opted to pay the $1.1 million ransom to the unknown hacker to regain control of their system. An insurance policy ensured a payout of $511,852,…
Read More “CA County Pays Ransom; Cyber Insurer Covers Much of It ” »
The hack has led to the loss of internet in classrooms. “After three days without Internet service, Penncrest School District teachers and students are ‘getting creative,’ according to Superintendent Tim…
Read More “Back to Chalk at PA School District Hit By Ransomware ” »
New survey results from Sophos, a provider of cybersecurity as a service, provide interesting data that delineates stand-alone cyber policies from cyber elements in broader policies. “The study also revealed…
The report focuses on how cyber insurance applicants can avoid future claims nightmares by answering underwriting questions accurately. It also suggests applicants carefully consider the interaction of cybersecurity coverage with…
Read More “Pro Tip: Read Your Cyber Insurance Policy Before Signing It” »