The Source for Cyber Insurance News, Insights and Data
A hacked company claimed damages but was sued and had its coverage voided for falsely claiming it had MFA… “‘The lawsuits and the rescinding of coverage, the calling out of the insured and the policyholders on little fibs that they told, or omission of details around how they’re protected in their secure practices’ appear to … Read more
“Blink by Chubb offers a suite of Chubb-backed personal insurance products distributed through the company’s digital brokers and affinity partners, such as SoFi. Chubb is the world’s largest publicly traded property and casualty insurance company. Blink Cyber is a stand-alone insurance policy that addresses the needs of customers facing the increasingly growing risk of cyber-attacks. … Read more
“As part of the endorsement, Safeco also provides customers with expert-level case management and guidance from a dedicated team of specialists in the event of a cyber exposure. The endorsement includes proactive, comprehensive credit and deep web monitoring for sensitive information that may be posted for sale. Safeco products are available through a network of … Read more
“…enterprises can control the costs by being more intelligent about risk selection regarding the products and technologies in their environment. Coalition rates are based on certain technologies, which means it’s not a flat rate increase for every renewal, according to (head of product at cyber insurance provider Coalition Payal) Chakravarty. Renewal rates are determined by … Read more
“The move to limit systemic risk in the insurance market, announced last month and applicable to standalone cyber policies from the end of March, prompted warnings it would lead to legal disputes over whether certain attacks had state support while further restricting cover vital to businesses. But Patrick Tiernan, Lloyd’s chief of markets, said the … Read more