Should Ransomware Payments Be Banned?
Australia’s Home Affairs Minister said the government is considering just such a move, following a dramatic ransomware attack (where the victim did not pay ransomware and had no cyber insurance). …
Cyber Insurance Market Stabilizing, Reports Wall Street Journal
Premiums are growing less dramatically as the market adjusts to the increase in ransomware attacks and claims. This includes demands by carriers for clients to demonstrate strong security controls and…
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Most K-12 Schools Have Cyber Insurance, But Still Lack Basic Security Measures: MS-ISAC Report
In our opinion, the report’s authors are diplomatic in their summary: “The K-12 community displayed an overall average maturity score of 3.55 on the 2021 NCSR’s 1 through 7 maturity…
Inadequate Security + No Insurance + No Ransomware Payment = Disaster for Australian Health Insurer
Australian health insurance provider Medibank Private Ltd. refused to pay ransom. Now hackers are releasing records from some of the app. 10 million customers whose data was compromised. “Following through…
BOXX Buys Templarbit, Latest Example of Cyber Insurers Fusing Risk Intel/Protection & Coverage
Financial terms of the transaction were not released. Boxx appears to have wanted the target’s cybersecurity talent as well as the company & its IP. Templarbits CEO/co-founder will head up…
Time for a “Parametric Approach” to Cyber Insurance?
The growing legal and technical complexities of cyber insurance policies might be addressed by a simpler process. “’In this respect, we see an interesting trend that we definitely follow and…
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Growing Reliance on Stand-Alone Cyber Insurance Policies Questioned by New Book
Josephine Wolff offers the critique in her well-researched book, Cyberinsurance Policy: Rethinking Risk in an Age of Ransomware, Computer Fraud, Data Breaches, and Cyberattacks (MIT Press, 2022). Are insurers and…
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Settlement by Zurich to Accelerate Tighter Insurance Exclusions for Nation/State-linked Cyber Attacks
Insurers have tried to avoid paying claims related to Russia’s NotPetya cyber attacks on Ukrainian targets. “Now, however, it’s increasingly clear insurers aren’t off the hook for NotPetya payouts or…
When Does It Make Sense to Use Captives for Cyber Insurance?
This report, written by the team @TheGrahamCo, casts doubt on using a “new captive” for cyber risk, as captives are commonly used for “high-frequency, low-severity” claims, while cyber attacks are…
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Cyber Insurance Claim Rates & More in WSJ Pro Research Survey
The survey includes useful info on a number of topics we discuss here, such as the difference between largeco/smallco cyber insurance purchasing and increased costs and difficulties in buying such…
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