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“When we identify downtime, we pay out for the customer immediately. Any loss is covered. Unlike traditional insurance where you have to file a claim, in this case, there’s no…
“Instead of paying a $569,000 (cyber insurance) premium to pay the contractors or the ransom, a city pays millions,” says the report, which details some of the expenses after the…
“’Some insurance carriers have actually pulled out of the whole business of cyber insurance for municipalities. They find the risk is just too much for them…(a) policy that would provide…
“Munich Re is planning new wordings in cyber insurance policies to exclude war, to avoid disputes over what is covered, the reinsurer’s top cyber underwriter told Reuters.” Source: Munich Re…
Read More “Better Late Than Never: Munich Re Tightens Cyber Insurance Policies To Exclude War ” »
“Unlike traditional cyber insurance policies, which can be complicated and difficult to amend, modularity allows brokers to offer customized policies with negotiated coverages specific to a client’s exposure. Customizing coverages…
Read More ““Modular” Cyber Insurance Policies Launched By Resilience ” »
Where reporting requirements exist, lawsuits follow. “The Cyber Incident Reporting Act puts in motion important new cybersecurity reporting requirements that will likely apply to businesses in almost every major sector…
Read More “Cyber Incident and Reporting Act Signed by President Biden ” »
Insurers have been tightening their war exclusions and clarifying attribution requirements, especially after the recent court win by Merck over reimbursement of its losses from 2017’s NotPetya malware attack. “However,…
Read More “Cyber Insurers Unlikely to Face Major Losses from Russia/Ukraine War: DBRS Morningstar” »
The new report goes beyond the growing media and PR generalities on this topic. It includes specifics on types of potential attacks and other actionable data. It also provides context…
“This new partnership with Duck Creek will bring tangible benefits to the users of Duck Creek’s policy underwriting platform. Prior to the integration, underwriters were making decisions without access to…
“But there is currently no good way for talking about and dividing up the different impacts of a single piece of code in the context of insurance claims, so the…
Read More “How “Far Away” Does the War Need to Be for Cyber Insurance Exclusions to Apply? ” »