The Source for Cyber Insurance News, Insights and Data
Morley Companies settled for $4.3 million in relation to its August 2021 hack. The company did not report the data theft to the public until early 2022, apparently running further afoul of California and HIPAA regulations. “The Michigan-based third-party vendor provides process outsourcing for a range of U.S. companies, including healthcare. A little more than … Read more
“(David Fringer, the executive director of information technology at Green Hills Area Education Association) said (cyber insurance) costs for the Council Bluffs school system three years ago when he worked there until June 2020 went from near $15,000 to $30,000 and then as high as $50,000 over a few years.” Another local expert noted that … Read more
In an insurance sector where historical actuarial tables do not exist, analytics are key for everything from underwriting to risk mitigation and response. From the press release: “…$50 million in additional growth capital from investment funds managed by Morgan Stanley Tactical Value (Morgan Stanley), with continued participation from all existing investors Forgepoint Capital, Hudson Structured … Read more
“Whatever the motive and means, the cyberattack on the Met is a warning to other cultural institutions. Anyone is a potential target. ‘I am always cautioning clients that everyone is a target, regardless of their size and industry. It should not take an incident such as this to make other cultural institutions realize they are … Read more
American Property Casualty Insurance Association’s response to the federal government’s request for comment on cyber insurance issues: “We believe it is premature to explore the details of a federal insurance response without conducting a thorough study of the threshold questions raised above to determine where, if at all, such a response is needed. Nevertheless, experience … Read more