The Source for Cyber Insurance News, Insights and Data
“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
“…39% of the survey respondents currently have a personal cyber insurance policy, and that percentage increases greatly with household income. In fact, 83% of high net worth report having a cyber policy. However, there is still work to be done. With 39% saying they are unfamiliar with personal cyber insurance, including 19% saying they are … Read more
The 2023 U.S. Cyber Market Outlook provides useful information on issues such as the regulatory environment, causes of cyber claims, industry break-downs and some predictions for 2023. It also affirms the trend we’ve written about before — social engineering and fraudulent payment scams moving to the fore (by percentage of claims, not losses) as hybrid … Read more
An appeals court found T-Mobile can cover its Zurich deductible with funds it recovered from a vendor involved in the breach. “The court rejected Zurich’s argument that a policyholder can’t use a third-party payment as a deductible and found that the insurer must cover T-Mobile’s losses stemming from the breach. The decision will add firepower … Read more