Cyber Insurance Best Practices

Want to Renew Your Cyber Insurance for 2022? 

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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 Windows Print Spooler vulnerability? They go through basically a list of the top events that we heard about this year and ask clients if they’ve … Read more

Cyber Insurance Market Looks for New Approach, With Lloyds Downshifting on Coverage 

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“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 a Reuters story, a big shoe appeared to drop: Lloyds of London, the carrier holding nearly a fifth of the cyber insurance market, discouraged its … Read more

New Cyber Claims Guide from Aon & Crawford 

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“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 was understanding the claims process. ‘Cyber-related business interruption is a costly and potentially ruinous expense,’ he said. ‘By engaging with a loss adjuster with full-time … Read more

Corvus Insurance Reports Some Good News: Victims of Ransomware Less Likely to Pay Off Hackers 

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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 of “smart commercial insurance products” reports companies are doing a better job of backing up their data, which helps them avoid the tender mercies of … Read more

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