The Source for Cyber Insurance News, Insights and Data
Bitkom has published a single headline damage figure for German industry every year for a decade. This year it published two. The digital association put losses from data theft, industrial espionage, and sabotage at somewhere between €211bn and €270.8bn over the past twelve months. The reason for the corridor sits in the methodology note. Companies … Read more
The number cyber underwriters need from Allianz Commercial’s new data center report sits on page 24. It is not fire. Wilful acts, a category Allianz describes as “largely cyber crime related,” account for 19% of data center claims by number. Only water damage ranks higher, at 21%. Fire places third by frequency, at 14%. Fire … Read more
A courtroom confrontation in Utah, a new EU deadline, and three overlooked rulings point to where the debate over digital evidence is really heading. Altered images cause harm long before anyone determines who must bear the costs. Digital evidence is now causing problems in connection with cyber insurance claims, and the courts are already dealing … Read more
Security leaders trust AI with almost nothing. Their carriers approved ransom payments in half the cases where money moved. A third party made the payment decision in half of the ransomware cases where a ransom got paid. Arctic Wolf names the cyber insurer as the example. The finding sits on page 13 of the company’s … Read more
A breach can shut a business down for months. Marsh wants insurers paying for that downtime in days, not after the recovery is over. Ransomware does not just lock files. It stops the business. AXA XL’s own claims data found 92% of ransomware incidents caused a business interruption, and the average company needed about two … Read more