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“The costs of recovering from a 2021 ransomware attack were too much for St. Margaret’s Health in Spring Valley, Illinois, which is closing today.” The article has useful analysis of…
Read More “Illinois Hospital Goes Out of Business Due to Cyber Attack — More to Come?” »
Chubb calls itself the “world’s largest publicly traded property and casualty insurance company” and it’s now making a significant move involving stand-alone cyber insurance. “Chubb has launched Cyber Central, an…
We all knew the general trend reported by AM Best. Headline: “The U.S. cyber insurance market continued strong growth in 2022, with direct premium increasing by 50% to $7.2 billion…
“’When people hear about cyber insurance, they often think of business coverage because personal coverage has not traditionally been available to the general public,’ said Mila Araujo, NFP assistant vice…
Read More “Another Personal Cyber Insurance Product, this from NFP ” »
The round was led by major industry investor Bain Capital Tech Opportunities and included Accel. They were joined existing investors including Adelphi Capital Partners, Telecom Ventures, Pelican Ventures and WP…
“’You all heard the horror stories in ’22 about 150% increases in premium,’ said Bryan Hurd, Seattle-based vice president of Aon cyber solutions…’Now, the market has actually softened,’ he said,…
Read More “Time for Gov Agencies to Lock in Lower Cyber Insurance Costs: AON ” »
Industry observers often write about the paucity of historical loss data to help underwrite cyber insurance. Insurtech platforms are helping close the gap by collecting massive amounts of cyber security…
Google exec @MonicaShokrai details the benefits of such a federal policy, including attracting more capital to the cyber insurance market: “Broadly speaking, insurance can drive resilience as a society: Not…
Read More “Google Exec Makes the Case for a Federal Cyber-Insurance Backstop” »
“Financial settlements with regulators and affected customers can sometimes rise into the millions of dollars and take several years to resolve. For example, claims from the 2013 breach at retailer…
“In a new report, CyberCube conducted an analysis of cyber cat events and documented over 100 global cyber aggregation events with catastrophic potential over the past six years – equating…
Read More “World Dodged 100 Potentially Catastrophic Hacks Over Past 6 Years: CyberCube ” »