The Source for Cyber Insurance News, Insights and Data
“‘Many middle market companies tell us they want to improve their cyber posture but lack the staff, skill sets or access to cost-effective tools,’ said Alex Wells, Head of Middle Market at Zurich North America. ‘Cyber Concierge is here to help. In the unfortunate event of an attack, customers with the Cyber Concierge Suite don’t … Read more
The large European broker reports cyber insurance pricing is down some 9% so far this year, but ransomware incidents are up almost 50% YoY. So why the discrepancy? We think the lag between increases in ransomware attacks and growth in rates may be a significant part of the answer, as At-Bay noted earlier this year: … Read more
Bad actors are sure to harness AI for a range of attacks, including some we cannot even envision today. Meantime, fraudulent instruction scams appear to be increasing. “In early June, two instances of voicemail impersonation were reported to Rob Ferrini, cyber insurance program manager at McGowanPRO, headquartered in Framingham, Massachusetts, with 5,000 cyber-insured clients covered … Read more
We’re sorry to paraphrase Yogi Berra about predictions, but he’s right. According to the report, the first cyber policy was offered by AIG in 1997. “’It’s going somewhere, what we struggle with is predicting exactly where that will be,’ (McGill & Partners partner Shannan) Fort said. ‘Just look at the last 10 years and new … Read more
The list: Hiscox: Best for Startup Businesses Zurich North America: Best for Midsize Businesses Chubb: Best for Enterprises Travelers: Best Cyber Liability Coverage The Hartford: Best for High Policy Limits Worth noting are the customer ranking scores each company has on Trustpilot. While Hiscox has earned 3.7 out of 5 stars, the other carriers show … Read more