The Leading Source for Cybersecurity Insurance News, Insights and Data
“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” »
According to the report, US FIO and CISA agree with this recommendation: “The Department of the Treasury’s Federal Insurance Office (FIO) and the Department of Homeland Security’s Cybersecurity and Infrastructure…
Read More “GAO Prods Feds to Assess Their Potential Response to Catastrophic Cyber Attacks ” »
“…17.3%** of SMEs did not have cyber insurance in 2021 due to it being too expensive, while 29% cancelled their policy to cut costs. Smaller businesses were found to be…
Read More “Small Businesses Cancelling Cyber Insurance Just When They Need It Most: GlobalData” »
“Managing clients’ expectations suddenly became an even bigger part of the broker’s role, (Patrick Bourk, principal and national cyber practice leader at HUB International Ontario) explained, particularly when it came to…
Read More “A Growing Challenge for Cyber Insurance Providers: Managing Client Expectations” »
“The make-up of who buys cyber insurance has also shifted, wrote Marsh. Increased technology adoption and the associated heightened cyber risk has led to a significant increase in insurance buying…
Presentation for RSA includes market intel and useful tips for navigating the cyber insurance market, from methods for estimating required coverage to “gotchas” lurking in policy fine print. Examples from…
City council in Oskaloosa increases cyber liability coverage from $250,000 to $1,000,000. “‘One of the most valuable items this service provides is immediate access to forensic experts who can take…
Read More “Typical? Iowa City Quadruples Cyber Insurance Coverage ” »