The Source for Cyber Insurance News, Insights and Data
Mark Sauter Growth of cyber reinsurance is limited by inadequate risk assessment tools and capital limitations… “Cyber limits have contracted, and insurers have significantly increased rates so the profitability of the portfolios is better, said Tim Gardner, New York-based global CEO of Lockton Re, a unit of Lockton Cos LLC. ‘I think reinsurers are pretty comfortable reinsuring … Read more
Concerns include clauses provided by Lloyds that define a “primary but not exclusive factor” for triggering an exclusion as a national government confirming it’s been hit by a nation/state cyberattack. “Those claims [coming from smaller enterprises] cannot wait six months for an insurer to work out whether it was a nation state attack or not, … Read more
Causes of loss, 2017-21: Get the study: Cyber Claims Study 2022 Report Thank you – NetDiligence
EY reports it surveyed the SEC filings of 74 Fortune 100 companies and 51% had cyber security insurance. That’s up from 43% in 2021. Report includes interesting statistics on cyber sec measures being taken by companies and the future of regulation by SEC and other federal entities. Source: How cyber governance and disclosures are closing … Read more
“Some Banks and financial institutions are already leading the charge by offering crypto wallets and custodial services, access to crypto markets for trading and investment, and advisory services to Wealth Management clients. While NFTs are seen as speculative assets by many, Banks can work with regulators and position these as mainstream asset classes. Taking it … Read more