The Source for Cyber Insurance News, Insights and Data
According to the report, Microsoft and AWS are offering the service, but Google is most advanced. “The crux of the approaches is the use of a customer’s IT configuration data provided directly from the cloud providers, which can give insurers a degree of certainty they’ve never before had when assessing the cyber risk of potential … Read more
“Around 90% of ILS fund managers are concerned about the potential for silent cyber exposure within their funds, said S&P, quoting PCS, a Verisk business and provider of catastrophe data. ‘Since silent cyber claims can have a detrimental impact on other insurance lines of business, ILS funds with exposure to operational or property risk already … Read more
“New research released this week revealed that 64% of security decision-makers across the US, UK, France, Germany, Belgium, Netherlands and Australia suspect their organization has been directly targeted by a nation-state cyberattack. With nation-state attacks on the rise and insurance coverage narrowing, enterprises will need to review their policies to ensure they’re not left exposed to … Read more
“As of March 31, when coverage begins or is renewed, syndicates must exclude state-backed cyberattacks from policies that protect against physical and digital damage caused by hacks, Underwriting Director Tony Chaudhry said…At a minimum, Mr. Chaudhry said, policies must contain clauses that exclude losses arising from a war, declared or otherwise, where the policy doesn’t … Read more
“The result: Coalition gains a property and casualty insurer licensed in all 50 states. Financial terms of the deal were not disclosed… Shawn Ram, head of Insurance for Coalition, described the advantages to the acquisition of Digital Affect: ‘This strategic move empowers Coalition to expand the reach of our market leading active cyber insurance offering … Read more