The Source for Cyber Insurance News, Insights and Data
Along with additional (and alarming) detail on its findings about hacks and shareholder value, AON provides some good news. Based on data from its risk assessment platform, security of common IT domains is improving. As is the security of some industry sectors: “Healthcare: The overall cyber risk score for healthcare clients improved from 2.6 to … Read more
The march of cyber insurtechs continues. “Tom Kang has been appointed as CEO of Converge Insurance as part of the financing round, which closed last week. ‘Our mission is to empower policyholders with radically transparent cyber insurance so they can manage technology risks more intelligently,’ said Kang. ‘We’re thrilled to partner with the team at … Read more
“Over a 12-month research project, researchers from RUSI (Royal United Services Institute for Defence and Security Studies), the University of Kent, De Montfort University and Oxford Brookes University conducted a series of expert interviews and workshops… This paper argues that there is, in fact, no compelling evidence that victims with cyber insurance are much more … Read more
“’One of the things we hypothesized right from the start was that cyber is going to be the most capital-constrained and most expertise-constrained class of business in the market. And so we focus on assisting our client base with those two key elements; whether it’s our expertise in helping them navigate the cyber landscape or … Read more
“While an insurance company may pay a ransom to get file decryption keys, ‘they won’t pay an extortion fee,’ Wisniewski said. ‘The conventional wisdom of insurers has been, ‘I’m buying encryption keys that are going to let me get this customer online faster, and that reduces my cost of the incident.’ They think they’re getting … Read more