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We’ve all heard the horror stories of companies hacked via penetrations of their vendors and partners. “’A company can take out insurance for third parties, but we don’t see a…
Read More “Supply-Chain Risk Continues to Bedevil Large Companies and their Cyber Insurers ” »
The hints come from an article by the National Security Agency’s (NSA) former general counsel, Glenn S. Gerstell, who’s been involved in development of the plan. He predicts a much…
“While UK government scheme Cyber Essentials works to protect SMEs from cyber risks, it can provide a false sense of security that firms are completely protected,” reports Insurance Times. Very…
Read More “UK Gov Offers Cyber Insurance — “Appalling” or “Good Step?”” »
The Prudential Regulation Authority (PRA), part of the Bank of England, asked 17 general insurers and 21 Lloyd’s of London syndicates to assess their solvency against a set of cyber…
“…Cowbell found that 48% of insurance brokers and agents feel uncomfortable explaining cyber insurance to their clients. The same study found that 60% of clients are driven to obtain cyber…
Read More “Do You Speak “Cyber?” For Brokers Who Don’t, Cowbell Wants to Help ” »
We told you about Beazley’s CAT bond and then its listing on the Bermuda exchange. This development in ILS is generating some optimism among those who fear devastating, system-wide damages…
Read More “Beazley’s New $45m “Cyber Cat Bond” May Be Sign of Things to Come: Information Week ” »
We’ve reported on the rise of “fraudulent instruction” scams and concerns they raise for the cyber insurance industry. This one targeted the campaign of Senator Jerry Moran (R, Kansas). “Cybercriminals…
Read More ““Fraudulent Instruction” Attack Swipes $690,000 from Senate Campaign ” »
“Bill Siegel, CEO and co-founder of Coveware, says that insurance companies have influenced proactive enterprise security and incident response preparedness in a positive manner in recent years. After cyber-insurance firms…
Read More “Ransomware Payments Down & Cyber Insurance Played Important Role ” »
Asset manager Stone Ridge entered into $100m deal with Hannover Reinsurance relating to cyber insurance exposure. “In the statement, Ross Stevens, CEO of Stone Ridge, said the company expects higher…
Media discussion of a “cyber TRIP” tends to the bullish. This report, by post-doc cyber insurance researcher Daniel Woods @leltop, surfaces the potential downside of such a plan, from moral…