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To get cyber insurance, companies increasingly must adhere to certain security requirements. Multi-Factor Authentication (MFA) is perhaps chief among them. MFA adds an additional layer of authentication and makes it…
Read More “Want to Qualify for Cyber Insurance? Better Get MFA. Here Are Tips from CPO Magazine ” »
144a Catastrophe (“Cat”) Bonds are trade-able (re)insurance-linked securities (ILS) that “cover more remote risk and that coverage is on a named-perils basis, which provides a level of predictability.” “’While there…
Read More “2023 Could See First Cyber “144a Cat Bond:” CyberCube ” »
Morley Companies settled for $4.3 million in relation to its August 2021 hack. The company did not report the data theft to the public until early 2022, apparently running further…
Read More “Look Where 1/3 of the $4m+ Hacking Settlement by the Morley Companies Went ” »
“(David Fringer, the executive director of information technology at Green Hills Area Education Association) said (cyber insurance) costs for the Council Bluffs school system three years ago when he worked…
In an insurance sector where historical actuarial tables do not exist, analytics are key for everything from underwriting to risk mitigation and response. From the press release: “…$50 million in…
“Whatever the motive and means, the cyberattack on the Met is a warning to other cultural institutions. Anyone is a potential target. ‘I am always cautioning clients that everyone is…
American Property Casualty Insurance Association’s response to the federal government’s request for comment on cyber insurance issues: “We believe it is premature to explore the details of a federal insurance…
Read More “APCIA to Feds: Not So Fast with a “Cyber TRIP” ” »
“…39% of the survey respondents currently have a personal cyber insurance policy, and that percentage increases greatly with household income. In fact, 83% of high net worth report having a…
The 2023 U.S. Cyber Market Outlook provides useful information on issues such as the regulatory environment, causes of cyber claims, industry break-downs and some predictions for 2023. It also affirms…
An appeals court found T-Mobile can cover its Zurich deductible with funds it recovered from a vendor involved in the breach. “The court rejected Zurich’s argument that a policyholder can’t…