The Source for Cyber Insurance News, Insights and Data
“One company, New York-based Parametrix Insurance Services LLC, is targeting businesses hit by a cloud outage. Parametrix sells insurance specifically to mitigate the risks of downtime events, compensating businesses for any losses, including lost revenue and the cost of recovery, when their cloud-computing provider or cloud-based applications service goes down.”
“If Merck eventually winning seems like good news for enterprises in similar policy situations, it is — but with a caveat. The vagaries of the policy meant it took five years and litigation to recover a substantial amount of losses, something attorney Marcus Christian, a partner at Mayer Brown’s cyber and data privacy practice, said … Read more
The company’s Global Threat Brief H1-2022 calls out several sectors with significant risk: education, healthcare, manufacturing and utilities. As for specific attacks: “In the first half of 2022, we can expect to see an active cyber threat landscape with more digital supply chain and Single Pointof Failure (SPoF) attacks… CyberCube expects to see ransomware threat … Read more
Key execs: Leader of the new division is entrepreneur Bill Meara, who comes from PE player Abry Partners. He’s joined by others including Adam Abresch, EVP of Cyber Solutions and leader of Acrisure’s Cyber Insurance Practice. The Company says its revenue has ramped from $38 million to over $3 billion in little more than eight … Read more
The start up’s website promises: “Get covered within 5 minutes.” “Baobab’s financing round was led by Project A Ventures with involvement from La Famiglia, Discovery Ventures and angel investors including Clark, Comtravo, Gabi, Hellas Direct, Bit Capital & Ioniq and Lendable, EU-Startups reported. The new cash will be used to add employees including insurance professionals … Read more