The Source for Cyber Insurance News, Insights and Data
“(T)he biggest risk hasn’t yet materialized: a cyberattack against a company or information services system so important to an economy, or to society as a whole, that it reaches systemic levels. One so big, perhaps, it might take down carriers. ‘I think it’s important we stress that the insurance industry has not had a catastrophic … Read more
This report provides useful information on holiday DDOS attacks, including the specter of combined attacks that use DDOS as a diversion while launching more serious hacks. But another lump of coal comes at the very end of the article: “Companies that have cyber insurance can attempt to recoup financial losses incurred from a DDoS attack … Read more
A key one is increasing awareness, and acceptance, by companies that they cyber insurance… “‘There really was a lot of questioning in years past of, is this a necessary product? Can we just get by on our other policies? And this past year that was answered affirmatively, you need cyberinsurance, and you might need more … Read more
Problem is that insurers have been trying to avoid payments for “acts of war,” leading to high-profile court cases, including one in which Zurich settled a claim involving a Russian-linked 2017 attack involving Ukraine. Ben Carey-Evans, senior insurance analyst at GlobalData, said “The resolution of the case could create a legal precedent that means insurers … Read more
Concierge Cyber offers pre-arranged incident response services to small and medium businesses (along with some “pre-loss” security services, such as training). Given the imperative for companies to react rapidly to serious hacks, this strikes us as a potentially helpful solution for smaller companies that don’t have big law firms and cyber security advisors on speed … Read more