The Source for Cyber Insurance News, Insights and Data
“Managing clients’ expectations suddenly became an even bigger part of the broker’s role, (Patrick Bourk, principal and national cyber practice leader at HUB International Ontario) explained, particularly when it came to helping clients to understand why their premiums increased so much and what they could do to mitigate some of those extra costs. ‘The challenge is, … Read more
“The make-up of who buys cyber insurance has also shifted, wrote Marsh. Increased technology adoption and the associated heightened cyber risk has led to a significant increase in insurance buying by power and utilities and manufacturing companies. Purchasing by more traditional buyers, such as retailers and financial institutions, has declined mainly due to capacity reductions … Read more
Presentation for RSA includes market intel and useful tips for navigating the cyber insurance market, from methods for estimating required coverage to “gotchas” lurking in policy fine print. Examples from the report: The top reasons insurers don’t pay 1. “It’s related to the same breach as last year” 2. “We only pay up to _____” … Read more
City council in Oskaloosa increases cyber liability coverage from $250,000 to $1,000,000. “‘One of the most valuable items this service provides is immediate access to forensic experts who can take over with the first phone call, providing staff guidance on what to do, what not to do and to assist in the recovery of lost … Read more
“‘There are a lot of companies that have gone through renewals and ended up either becoming uninsurable or implementing some new controls just to get to the point of being insurable,’ (Nick Santillo, vice president of digital infrastructure and security at American Water) told a gathering of water company executives in Washington, D.C. for … Read more