The Source for Cyber Insurance News, Insights and Data
Mark Sauter Reported elsewhere: “The captive, domiciled in Hawaii, will provide capacity in addition to its current long-term capacity agreements from carriers including Swiss Re and Arch Insurance.” The insuretech company continues to scale at a rapid pace. “Coalition has delivered superior claims results amidst significant growth as it crosses $400M in run rate premium, an 800% … Read more
“The rise of high-profile ransomware incidents in the public finance sector beginning in 2018 led entities to turn to cyber insurance as a means of risk transfer. With ransom demands generally in the five-digit range, affordable and easy-to-obtain cyber insurance helped reduce financial risk. However, with soaring ransom demands and recovery costs, insurers have adjusted premiums … Read more
“Generali , Accenture and Vodafone have created a package of cyber security services to help the insurer’s corporate clients to detect, react and recover from cyber threats and incidents.” Source: Generali launches corporate cyber insurance services | Reuters
“Meanwhile, cyber security firm Coveware likened the 90%-plus profit margin from ransomware attacks in 2021 to the gains Colombian cocaine cartels made in 1992.” Source: Insurers Cut Their Appetite for Cyber Cover as Ransomware Losses Mount
Be ready to detail how you handled well-known vulnerabilities in 2021. “Every application nowadays includes questions like: Have you had any exposure to SolarWinds, Microsoft Exchange Marauder vulnerability, or the Windows Print Spooler vulnerability? They go through basically a list of the top events that we heard about this year and ask clients if they’ve … Read more