The Source for Cyber Insurance News, Insights and Data
For reference, our post on “Skinny Cyber Insurance” for smaller companies with limited cybersecurity resources that need to prove coverage to their supply chain partners. “’The coverage that these companies would get out of the gate will be a little bit more restricted than it would be if they had controls in place,’ (Marsh’s Susan) Young … Read more
“A new scheme involves demanding that the target provide details of its cyber insurance policies so that the payment demands can be adjusted to fall within the coverage the victim purchased.” (We’ve written about this trend before… ) Excerpt of a message from a ransomware gang (provided by Varonis): “(S)ince the sneaky insurance agent purposely … Read more
Tax, audit and advisory firm Grant Thornton has ideas. “Some sort of shared access, as opposed to aggregated purchasing, may gain some of the advantages without triggering these issues (challenges in portfolio-wide cyber insurance requirements and purchasing.) Another promising approach would be for PE firms to create financial incentives, possibly funded by a shared pool, … Read more
Peter Hedberg, Vice President of Cyber Underwriting at Corvus Insurance, worries the hackers may benefit more in the short term: “Chat GPT removes a lot of markers because the answers that this technology delivers seems so natural and so human, however this also allows for the attack vector to scale effectively. So, instead of spending … Read more
This TechTarget article includes results from the useful Delinea white paper: “Cyber Insurance – If You Get It, Be Ready to Use It.” “(Kurtis Minder, CEO of cybersecurity vendor GroupSenseMinder) has observed threat actors only becoming more ruthless in exploiting enterprises. For example, earlier this month the Alphv ransomware gang leaked photos of cancer patients … Read more