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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….
Read More “Public-Private Cyber Insurance Partnership is Needed: CEO of Zurich Insurance ” »
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…
Read More “21% CAGR for Cyber Insurance Market from 2021-2031: Report ” »
“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…
Read More “Wisconsin Joins Maine and Iowa as Recent Adoptees of New Cybersecurity Insurance Law ” »
The report asserts the industry is putting too much emphasis on MFA as a defense when more attacks come via social engineering or unpatched software and Remote Desktop Protocol (RDP)-involved…
Read More “Are Cyber Insurers and their Clients Putting Too Much Trust in MFA (Multifactor Authentication) to Stop Ransomware? ” »
The attacks are driving better underwriting and higher premiums with sustainable loss ratios, despite media reports of major disruptions and high ransoms. “In a way, the headlines are right —…
Read More “Ransomware Losses Are Good for the Cyber Insurance Industry: CyberCube CEO” »
“Some ransomware gangs are even actively seeking to target victims with cybersecurity policies because they believe that’s the best way to guarantee they’ll make money from encryption campaigns:” reports ZDNet,…
Read More “Does Cyber Insurance Attract Attacks from Ransomware Rings?” »
It addresses the problem of uninformed insurance pros trying to sell or price cybersecurity insurance, as discussed here. “We launched that product just over a year ago now, and it…
Read More “CyberCube Touts Cyber Insurance Tool for Brokers” »
“Howden’s research finds that global cyber insurance pricing has increased by an average of 32% year-on-year in June 2021 on the back of a 50% rise since data tracking began….
Read More “Global Cyber Insurance Pricing Increases 32% YoY (June): Howden Report” »
American International Group Inc (AIG.N) boosts cyber premium rates almost 40% globally and is now reducing coverage limits. “We continue to carefully reduce cyber limits and are obtaining tighter terms…
Read More “AIG: We’re Reducing Cyber Insurance Coverage Limits as Our Premiums Jump 40% ” »
A July 2021 survey by the Chartered Insurance Institute (CII) highlights a lack of training among insurance personnel involved with cybersecurity policies. “Almost six out of 10 insurance professionals polled…