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From the Dept. of Treasury — SUMMARY: Over the past several years, the Federal Insurance Office (FIO) in the U.S. Department of the Treasury (Treasury) has continued its ongoing efforts…
Growth of cyber reinsurance is limited by inadequate risk assessment tools and capital limitations… “Cyber limits have contracted, and insurers have significantly increased rates so the profitability of the portfolios…
Read More “Reinsurers Face Challenges in Cyber Insurance Market ” »
Concerns include clauses provided by Lloyds that define a “primary but not exclusive factor” for triggering an exclusion as a national government confirming it’s been hit by a nation/state cyberattack….
Read More “Worries About Implementing Lloyd’s Plan to Exclude Acts of War from Cyber Insurance ” »
“Should an existing federal insurance program (e.g., NFIP or TRIP) or other U.S. or international public-private insurance mechanisms serve as a model for, or be modified to address, catastrophic cyber…
Potential good news for cyber insurers: Awareness of need is high and perhaps sales will catch up to it… “Nearly 75% of respondents said they believe having a cyber insurance…
A guide to cyber considerations impacting the maritime industry is at the link… “Dryad Global provides maritime cybersecurity services that meet current and existing recognized international (IMO) standards including various…
A hacked company claimed damages but was sued and had its coverage voided for falsely claiming it had MFA… “‘The lawsuits and the rescinding of coverage, the calling out of…
“Blink by Chubb offers a suite of Chubb-backed personal insurance products distributed through the company’s digital brokers and affinity partners, such as SoFi. Chubb is the world’s largest publicly traded…
Read More “SoFi Jumps Into Personal Cyber Insurance Sector ” »
“As part of the endorsement, Safeco also provides customers with expert-level case management and guidance from a dedicated team of specialists in the event of a cyber exposure. The endorsement…
Read More “Liberty Mutual’s Safeco Offers Personal Cyber Coverage ” »
“…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…
Read More “Avoid These Technologies If You Want Cheaper Cyber Insurance ” »