The Source for Cyber Insurance News, Insights and Data
Editor “AXA XL has promoted Danielle Roth as practice leader and head of Cyber Claims, North America. Roth is responsible for claims strategy and best practices including coverages analysis, claims investigations, reserving and resolution of claims, service standards and state regulations. In addition to managing AXA XL’s cyber claims professionals in the U.S., Canada and Bermuda, … Read more
And it turned out the bidder was not even admitted to do business in Texas… “‘They were only able to find one company that would insure us on cyber liability because I guess there are so many claims right now,’ (county Judge) Stroeher said. The Great American Fidelity Insurance gave a quote for $25, 180.’It’s … Read more
As more and more enterprises back up their data to protect it from being encrypted (and thereby made inaccessible) by ransomware attacks, criminals are now moving to steal the data first before they encrypt it. If the target does not pay up, the attacker releases sensitive data. “Threat actors are now shifting to the method … Read more
“Social influencers want attention, but not from cyber criminals,’ said James Hajjar, assistant vice president for HSB, part of Munich Re. ‘Hackers and other digital predators target social media. We’re filling the coverage gaps with insurance that follows customers with the protection they need.’” Social media income interruption coverage from HSB Home Cyber Protection applies … Read more
“‘Progressive versions of workers’ comp have led to improved employee health and safety measures and proactive prevention efforts to reduce the risk of workplace injuries,’ Kundi said. ‘Similarly, as we better understand cyber risk, better data will show the connection between risk mitigation and cyber losses, pressuring companies to invest in security and protection.’” … Read more