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“New research released this week revealed that 64% of security decision-makers across the US, UK, France, Germany, Belgium, Netherlands and Australia suspect their organization has been directly targeted by a nation-state…
“As of March 31, when coverage begins or is renewed, syndicates must exclude state-backed cyberattacks from policies that protect against physical and digital damage caused by hacks, Underwriting Director Tony…
“The result: Coalition gains a property and casualty insurer licensed in all 50 states. Financial terms of the deal were not disclosed… Shawn Ram, head of Insurance for Coalition, described…
Read More “Coalition Buys Prop/Casualty Insurer from Munich Re ” »
“(T)he rise of smart, connective technology in vehicles has also exposed new weaknesses that hackers can exploit. A report by Upstream Security revealed that automotive cyber security incidents spiked 225%…
Read More “This Brings a New Element to Car Insurance — Cyber Attacks on “Connected Cars” Surge ” »
“The 2022 ‘Cyber Market Conditions’ report indicates school districts may face a 100 to 300 percent increase in the cost of premiums if they don’t have ‘best in class’ security controls…
Read More “Schools Slammed By Cyber Attacks, Struggle to Qualify for Affordable Cyber Insurance ” »
“’Despite the considerable pressures, our research shows it’s not enough to make insurers exit the market,’ the report said, finding that even if the current rate of cyber attacks remains…
Read More “Cyber Insurers Not Exiting Market, Despite Challenges: Survey” »
“The Hive group claims to have breached the system and then obtained details of its cyber insurance policy to use in negotiations. ‘We are very well informed and precise in…
Read More “Hacker Group Cites Target’s Cyber Insurance Limits in Ransom Demand ” »
“While not appearing in the top 10 causes of loss, the number of cyber claims has significantly increased over the past few years, driven by the rise of threats such…
Read More “New Report Shows Growth of Cyber Claims: Allianz ” »
“The “vast majority” of cyber insurers plan to remain in the market over the next three years as the industry establishes an operations baseline to cope with very high claim…
Standalone cyber policies now the majority… “Standalone policies are more often subject to claims, given that more-sophisticated clients with more data and financial resources typically purchase these policies. Despite the…
Read More “Underwriting Performance for US Cyber Insurance Improved Last Year: Reinsurance News” »