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Insurers have tried to avoid paying claims related to Russia’s NotPetya cyber attacks on Ukrainian targets. “Now, however, it’s increasingly clear insurers aren’t off the hook for NotPetya payouts or…
This report, written by the team @TheGrahamCo, casts doubt on using a “new captive” for cyber risk, as captives are commonly used for “high-frequency, low-severity” claims, while cyber attacks are…
Read More “When Does It Make Sense to Use Captives for Cyber Insurance? ” »
The survey includes useful info on a number of topics we discuss here, such as the difference between largeco/smallco cyber insurance purchasing and increased costs and difficulties in buying such…
Read More “Cyber Insurance Claim Rates & More in WSJ Pro Research Survey” »
We’ve seen such attacks. They’re tricky, often made possible by poor cyber hygiene, and require attention to detail by employees as a final defense (“Boss, are we really supposed to…
Read More ““Fraudulent Instruction” Attacks Surge: Beazley ” »
“During an XChange session titled ‘What An MSP Needs To Know About Cyber Insurance,’ …Paul Vedder, managing director of Palm Beach Grardens, Fla.-based VXI…agreed that compliance is becoming a larger…
Read More “MSPs Warned: Be Careful About Giving Clients Cyber Insurance Advice ” »
This useful survey includes reasons companies buy cyber insurance (see below). It also notes that a third of respondents say their cyber insurance policies are written unclearly. Source: 2022 Advisen-Zurich…
Interesting note: Prices for non-cyber financial and professional lines decreased during the same quarter. “Cyber insurance pricing increased 48% in the third quarter, compared to 79% in the prior quarter….
CyberCube says it’s offering the first detailed Industry Exposure Databases (IED), which allow (re)insurers and brokers to quantify real-time cyber risks. “The first release of CyberCube’s Exposure Databases focuses on…
The cyber insurance industry needs reinsurance capital to keep growing. Coalition partnered with BDT Capital to form this independent Bermuda-based Class 3B reinsurer. “Joshua Motta, founder and CEO of Coalition,…
Read More “Re to the Rescue: BDT Capital Forms “Ferian Re” with Cyber Insurer Coalition ” »
“’We’ve been seeing the cost of cyber insurance increase for years now, but this year it went to a whole new level,’ said Michael Zurlo, president of the New York…
Read More “Local Governments Struggle with Hikes in Cyber Insurance Premiums ” »