The Source for Cyber Insurance News, Insights and Data
Mark Sauter We can think of some more. According to the report: “…the biggest misconception around cyber insurance is still summarized by the sentence, ‘It’ll never happen to me.’ Cyber attacks are continuously evolving, and companies that don’t stay educated about the space could be caught off guard, experts say.” Source: Biggest Myths Around Cyber Insurance
“The company explained it will no longer cover losses resulting from ‘cyber-war,’ which it defined as a cyber-operation carried out as part of a war, any retaliatory attacks between specified states, or a cyber-operation ‘that has a major detrimental impact on the functioning of a state.’” Source: Lloyd’s Carves Out Cyber-Insurance Exclusions for State-Sponsored Attacks … Read more
“The Relay I5 platform allows insurance brokers to visually structure placements, rapidly identify and approach the most relevant markets, and access tools to help increase win rates. At-Bay offers instant, bindable Cyber quotes via API up to $3 million in limits for businesses up to $100 million in revenue. At-Bay Cyber policies provide broad first- … Read more
“In utilizing blockchain technology for this incremental insurance of ‘data in motion,’ CloudCover is creating a permanent and public record of every micro-policy that is opened and closed. Each micro-insurance policy is automated on demand, and CloudCover notifies the policyholder and auto-adjudicates the claim. This is a departure from the typical cybersecurity insurance, in which … Read more
“According to the Council of Insurance Agents & Brokers, cyber insurance premiums grew more than a quarter (25.5%) during that period. That’s well above the 17.4% increase witnessed by umbrella insurance and an average of 8.3% growth across all premiums.” Source: Rising Cyber Insurance Premiums Highlight Importance of Ransomware Prevention