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“Rising cyber insurance rates were driven largely by the continued increase in the frequency and severity of ransomware claims with many insurers seeking to tighten coverage terms and conditions, especially…
Read More “Increases In Global Insurance Rates Moderate During Q1 – But Not For Cyber” »
The average commercial ship is using 3X more data than before COVID, Inmarsat estimates. “The result is a growing ship network ‘surface area’ for attacks that offers a route to…
“Fitch estimates that standalone and packaged cyber statutory direct written premiums increased by 74% in 2021 to nearly $5 billion compared with 9% growth for the P/C industry overall, driven…
Read More “Fitch Updates Estimates on Growth of US Cyber Insurance Market ” »
“Polk County won’t be adopting a special cyber insurance plan out of concern that doing so could increase risks of being hacked, county administrator John Norris told supervisors in a…
Read More “Iowa County Decides Cyber Insurance Creates More Risk Than It Mitigates ” »
“’Some insurance carriers have actually pulled out of the whole business of cyber insurance for municipalities. They find the risk is just too much for them…(a) policy that would provide…
But seriously, anything that helps insured/insurers/tech providers get a better grasp of this complex market is probably worth it… “‘Choosing cyber insurance coverage comes with a lot of questions about…
“Munich Re is planning new wordings in cyber insurance policies to exclude war, to avoid disputes over what is covered, the reinsurer’s top cyber underwriter told Reuters.” Source: Munich Re…
Read More “Better Late Than Never: Munich Re Tightens Cyber Insurance Policies To Exclude War ” »
“Coalition continues to expand its capacity relationships and cyber insurance business in a market that is highly dynamic. Coalition year-over-year revenue grew by more than 400% in 2021 as the…
Read More “Fast-Growing Cyber-Insurer Coalition Turns to Ascot for Additional Coverage Capacity ” »
“Unlike traditional cyber insurance policies, which can be complicated and difficult to amend, modularity allows brokers to offer customized policies with negotiated coverages specific to a client’s exposure. Customizing coverages…
Read More ““Modular” Cyber Insurance Policies Launched By Resilience ” »
“If Russia carries out a large cyber attack which spills over into several countries, it could lead to claims totalling (sic) $20 billion or more, similar to insurance claims from…