The Source for Cyber Insurance News, Insights and Data
Mark Sauter “It’s not an easy path to navigate, (Nick) Shah (a former kidnap and hostage negotiator) said, and it is made even more complex by the fact that cyber negotiations tend to involve the written word rather than a verbal discussion. In hostage negotiations, you can talk to the threat actors involved, which makes it easier … Read more
Kocsondy was formerly an SVP at Chubb. Source: Beazley hires Patricia Kocsondy as Head of US Cyber & Tech – Reinsurance News
This reminds us of the push after 9-11 for the US government to share terrorism losses with the insurance industry, which led to the Terrorism Risk Insurance Act, or TRIA. TRIA’s 2019 extension included a requirement for the federal government to study whether a similar structure might work for cyberterrorism. “Cyber – as some other … Read more
File this under “important if true.” We put limited credence in the specifics of market reports such as these, but the combined trendlines produced by these various reports indicate rapid growth of the cyber insurance sector, which is consistent with recent historical results and the expectations of informed market participants. “The global cyber insurance market … Read more
“The Act establishes investigation procedures, data security program standards, and notification requirements for anyone licensed by Wisconsin’s Office of the Commissioner of Insurance (licensees), including insurers and agents. Exempt from compliance are licensees with fewer than 50 employees, less than $10 million in total year-end assets, or less than $5 million in gross annual revenue.” … Read more