The Source for Cyber Insurance News, Insights and Data
With this round, the insurtech has raised US$24.5 million. Zurich Insurance participated in both rounds. BOXX says it’s grown 10X in the last 24 months and now serves over 250,000 individuals and 10,000 businesses. The investment and BOXX’s growth demonstrated the continued traction of tech companies that combine insurance with security applications. “We’re not only … Read more
…unless the hospital has no cyber insurance, in which case the board and CEO are the ones with insomnia. Tallahassee Memorial HealthCare, a 772-bed hospital with specialty care centers, has shut down its IT system and is diverting emergency patients to other hospitals. The apparent cause: a ransomware attack. “‘We continue to divert some EMS … Read more
The carrier, backed by Coalition’s active insurance platform, rolls out across the nation during 2023. It received an A- rating from AM Best at the end of January. Source: Coalition Launches Full-Stack Cyber Insurer for SMBs
The Prudential Regulation Authority (PRA), part of the Bank of England, asked 17 general insurers and 21 Lloyd’s of London syndicates to assess their solvency against a set of cyber losses. “The regulator assessed industry responses to three underwriting ‘cyber scenarios’ – a cloud outage, data exfiltration and systemic ransomware.”The Bank of England’s Prudential Regulation … Read more
“…Cowbell found that 48% of insurance brokers and agents feel uncomfortable explaining cyber insurance to their clients. The same study found that 60% of clients are driven to obtain cyber insurance through increased awareness around cyber insurance, not by their brokers or agents, but instead by their peers.” The “Cowbell Academy,” says the company, is … Read more