The Source for Cyber Insurance News, Insights and Data
Editor “Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency, known as CISA, told the House Homeland Security Committee Wednesday that ‘ransomware has become a scourge on nearly every facet of our lives, and it’s a prime example of the vulnerabilities that are emerging as our digital and our physical infrastructure increasingly converge.’” Source: ‘American … Read more
“James Burns, head of cyber underwriting at CFC, says that ransomware has ‘solely transformed’ the cyber market owing to the “astronomical increases” in the extortion amounts demanded in attacks over the last 18 months.” See more from this survey. Source: Captive insurance industry news | Airmic: cyber risks are the most likely new risks to … Read more
“The majority of insurance applications submitted through APIs today still result in inaccurate quotes. This triggers the need for manual underwriting and unnecessary delays. Insurance agents and brokers need speed and efficiency when servicing small and mid-size businesses while offering coverages that are relevant, easy to understand and bring value beyond coverage with resources for … Read more
What we have here is a failure to communicate… “The challenge here is two-fold. Insurers make underwriting decisions based on technologies they don’t fully understand, while applicants don’t fully understand cybersecurity frameworks.” Source: Top Reasons Insurers Decline Cyber Insurance
“The appointment follows the recent announcement by BOXX of its global partnership with Zurich Insurance, which Steptoe will manage along with other customer relationships in Europe.” Source: Toronto-Based Cyber Insurer BOXX Insurance Appoints Dominic Steptoe as Global Chief Product Officer | News | wfmz.com