The Source for Cyber Insurance News, Insights and Data
“…enterprises can control the costs by being more intelligent about risk selection regarding the products and technologies in their environment. Coalition rates are based on certain technologies, which means it’s not a flat rate increase for every renewal, according to (head of product at cyber insurance provider Coalition Payal) Chakravarty. Renewal rates are determined by … Read more
“The move to limit systemic risk in the insurance market, announced last month and applicable to standalone cyber policies from the end of March, prompted warnings it would lead to legal disputes over whether certain attacks had state support while further restricting cover vital to businesses. But Patrick Tiernan, Lloyd’s chief of markets, said the … Read more
“’So then the question is going to be, well, is there coverage for the attack? Is there coverage for the fire? Does the policy exclude coverage for both? And these are some real tough questions that need to be asked in evaluating the claim,’ (Marc Voses, partner at Clyde & Co.) said. ‘You might have … Read more
According to the report, Microsoft and AWS are offering the service, but Google is most advanced. “The crux of the approaches is the use of a customer’s IT configuration data provided directly from the cloud providers, which can give insurers a degree of certainty they’ve never before had when assessing the cyber risk of potential … Read more
“Around 90% of ILS fund managers are concerned about the potential for silent cyber exposure within their funds, said S&P, quoting PCS, a Verisk business and provider of catastrophe data. ‘Since silent cyber claims can have a detrimental impact on other insurance lines of business, ILS funds with exposure to operational or property risk already … Read more