Marsh Launches Cyber Risk Analytics Center
“The center will be headed by Managing Director Scott Stransky, a cyber risk and catastrophe modeler. Stransky joined Marsh McLennan earlier this year after more than a decade at AIR…
Solutions for Healthcare Organizations Seeking or Maintaining Cyber Insurance
“One of the numerous requirements is for organizations to implement and run a PAM (Privileged Access Management) tool that will continuously scan access, provides Just In Time Access (JITA), and…
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Brokers & Clients Continue to Lack Knowledge to Make Good Cyber Insurance Decisions: Insurance Business America
“One broker noted that ‘the insurance industry has done a really poor job on educating brokers and, more importantly, clients about how important cyber coverage is, how great the risk…
Risk Quantification in a “Hardening Cyber Insurance Market”
“The first is company mapping, which is equivalent to a company’s ancestral tree. Understanding parent entities and subsidiaries and how they work together inform cyber integrity. The second type is…
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Swiss Re Creates Central Cyber Underwriting Team
“The new central cyber underwriting team will assume global responsibility for Swiss Re’s underwriting and product development activities in the cyber sector.” The company has hired John Coletti to manage…
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SEC Cracks Down on Cyber Disclosures: Does Cyber Insurance Cover Costs & Fines?
The answer in most cases appears to be “no.” “A cyber liability policy could respond to an SEC investigation, depending on the policy’s wording, ‘but there’s a big caveat to…
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Cyber Insurers Join NIST to Create New Framework for Cybersecurity Products and Audits; From White House Cyber Summit w/ President Biden and Industry
“The National Institute of Standards and Technology will work with Microsoft, Google and the insurance industry companies Travelers and Coalition to create a new framework designed to help guide the…
Wisconsin Joins Maine and Iowa as Recent Adoptees of New Cybersecurity Insurance Law
“The Act establishes investigation procedures, data security program standards, and notification requirements for anyone licensed by Wisconsin’s Office of the Commissioner of Insurance (licensees), including insurers and agents. Exempt from…
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Ramping Cyber Insurance Premiums Help Hiscox Hit Profitability in H1 2021
Hiscox Ltd (LSE:HSX) lists increasing cyber insurance rates as part of its turn to profitability in the first half of 2021, according to its 2021 interim and Chairman’s statement. “Rate…
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Consortium of Leading Cyber Insurance Carriers Creates New Company to Coordinate on Cyber Market
The companies are: AIG, AXIS, Beazley, Chubb, The Hartford, Liberty Mutual Insurance and Travelers. The mission of newco CyberAcuView is: “to (1) help the insurance industry provide better value and…