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The Securities and Exchange Commission (SEC) has sued SolarWinds Corporation, the software company, and its chief information security officer, Timothy G. Brown, for fraud and internal control failures in relation…
As in the US, the discussion turns on the threat of a catastrophic “systemic” cyber attack, which could generate $3.5 trillion in “global economic damage” according to a recent model…
Read More “Brits Debate Government Backstop to Cyber Insurance Industry” »
Cyber security claims are back up and could show 25% YoY growth for 2023, says a new Allianz Commercial report. Not only are claims increasing, but so is the complexity of…
Read More “Cyber Security Claims Increasing this Year & So is Complexity of Attacks: Allianz” »
Formerly known as Paladin Cyber, Upfort has raised $8 million from SYN Ventures, with participation from Eniac Ventures and Fika Ventures (Upfort seed investor). Valuation was not disclosed. The company describes itself as a…
Read More “SYN Ventures Leads $8 million Series A Investment in Upfort” »
We’ve written about the growth of personal cyber insurance and the challenges associated with it. Major insurance carriers continue to pursue the business, concluding that trends from the COVID pandemic…
The world’s largest public P&C insurance company, ticker “CB,” will enable $its 100m+ revenue clients to share cyber risk information via SentinelOne’s protection and response software. This is another example…
Read More “Chubb Offers Policy Holders Cyber Tech from SentinelOne” »
Insurers say ransom-related claims rose sharply in the first half of 2023, the Wall Street Journal reports in this article (paywall may apply). “Along with the rise in claims related…
Progress Software Corporation (PRGS) is the provider of MOVEit Transfer software, a program responsible for what is widely considered the largest hack so far in 2023, impacting at least 2,000…
“(M)ore than half (54%) of respondents found the current state of the cyber insurance market to be unsustainable,” reports the useful survey from KYND Limited, a provider of cyber risk…
Read More “Cyber Insurance Market is Unsustainable: KYND Survey” »
The dawn of SEC-required cyber disclosures seems sure to increase litigation, as we’ve reported. Could the kind of cyber risk management now required by most cyber liability insurers provide some…