The Source for Cyber Insurance News, Insights and Data
Problem is that insurers have been trying to avoid payments for “acts of war,” leading to high-profile court cases, including one in which Zurich settled a claim involving a Russian-linked 2017 attack involving Ukraine. Ben Carey-Evans, senior insurance analyst at GlobalData, said “The resolution of the case could create a legal precedent that means insurers … Read more
The new deadline to comment on the issue is December 14th. “Pursuant to a recommendation from the Government Accountability Office, under direction from Congress to investigate the question, the agencies are seeking answers on ‘the extent to which risks to critical infrastructure from catastrophic cyber incidents and potential financial exposures warrant a federal insurance response,’ … Read more
Australia’s Home Affairs Minister said the government is considering just such a move, following a dramatic ransomware attack (where the victim did not pay ransomware and had no cyber insurance). A recent study reports that ransomware payments are far from guaranteed to produce system recovery. “(T)he Veeam report said: ‘One of the more notable statistics … Read more
Financial terms of the transaction were not released. Boxx appears to have wanted the target’s cybersecurity talent as well as the company & its IP. Templarbits CEO/co-founder will head up Boxx’s new R&D effort. “…BOXX has announced the acquisition of Templarbit and the creation of a new R&D Division to deliver effective … Read more
The growing legal and technical complexities of cyber insurance policies might be addressed by a simpler process. “’In this respect, we see an interesting trend that we definitely follow and promote, [and that is] a parametric approach. Since many of the cyber events are really black and white, I think a clear claim settlement process … Read more