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Keep an eye on the role of Managing General Agents/MGAs (brokers with underwriting authority from carriers), says @CyberDanBurke. “Greater adoption of MGA capacity and the willingness of traditional cyber insurance…
“(Beazley Head of Cyber Services Raf Sanchez) explained that this is because many incidents are notifiable not just to regulators but often must be disclosed to clients (who have inserted…
“While the strategy may protect companies in the case of a lawsuit, since much of a legal firm’s research would be considered privileged information, the legal layers also make the…
“According to (Procor Solutions and Consulting’s Chris) Mortifoglio, who is a Certified Public Accountant and a Certified Fraud Examiner (CFE), understanding the ‘nuances and differences’ of a cyber insurance business…
Read More “Business Interruption Among Topics in Insurance Journal’s Top Cyber Stories of 2021” »
“Attestations will become a thing of the past, and policy holders will need to prove, with proper documentation, that the controls they say are in place are truly there. The…
Be ready to detail how you handled well-known vulnerabilities in 2021. “Every application nowadays includes questions like: Have you had any exposure to SolarWinds, Microsoft Exchange Marauder vulnerability, or the…
“At a time when the need for cyber insurance has never been more clear, brokerages have spent much of 2021 decreasing coverage and increasing rates. But on Friday, tucked into…
Read More “Cyber Insurance Market Looks for New Approach, With Lloyds Downshifting on Coverage ” »
“Crawford’s global head of Cyber Paul Handy says organisations should focus not only on risk prevention but also preparedness in the event of a cyber incident, and a key part…
Microsoft teaming with At-Bay. Google Cloud previously announced similar collaboration with Allianz and Munich Re. Source: Microsoft’s Ann Johnson Talks MFA, Cyber Insurance, and Crystal Balls – SDxCentral
While the average ransomware payment ($290k) has increased in Q3 2021 compared with the same quarter last year, a smaller percentage of ransomware demands are being met. The insuretech provider…