The Leading Source for Cybersecurity Insurance News, Insights and Data
We’re fans of research from RPS/Risk Placement Services, the brokerage and MGA. Early this year, the firm predicted a correction in cyber pricing driven by factors such as increased fraud…
Read More “Mea Culpa from RPS: Cyber Insurance Prices Not Going Up as Expected” »
The energy, oil/gas and utilities sector has the highest level of cyber insurance coverage, with 97% of surveyed organizations reporting policies (most of them standalone.) The lowest adoption of cyber…
So reports Venture Beat in a report on AI’s impact on cyber insurance, which also says the technology can dramatically accelerate risk assessments: “Cyber insurers are also looking to AI…
Read More “AI Cuts Cyber-Insurance Claim Processing Times By > 80%?” »
In the world of cybercrime, few experiences are as frustrating as paying a ransom to recover stolen data only to remain empty-handed. This stark reality is highlighted in the issue…
Read More “1/3 of Ransomware Victims Did Not Recover Data Even After Paying Up” »
We told you about Coalition’s findings on business email compromise (BEC), as reported in the managing general agent’s 2024 Cyber Claims Report. But we were also struck by the data…
After several years of exponential growth in the cybersecurity insurance market, a surprising shift occurred last year in cyber liability insurance premiums, according to a report from Fitch. “U.S. statutory…
Read More “What? Cyber Insurance Premiums Dropped For First Time in 2023: Fitch” »
The global aluminum and energy company, known as “Hydro,” estimated damages at up to app. USD $74 million. “The company has a robust cyber insurance in place with recognized insurers,”…
Read More “AIG Cyber Insurance on Hook for Hack of Norsk Hydro” »
The useful new 2024 US Cyber Outlook Report from Risk Placement Services (RPS) notes that carriers reduced premiums, increased limits and softened requirements for some cyber controls when ransomware losses declined last…
Read More “Think Cyber Insurance Market is “Out of the Woods?” No So Fast, Says RPS” »
We’ve reported extensively on the insurance industry’s fear of “cyber war;” debate over exclusions for state-backed, systemic cyber attacks; moves by governments to backstop the cyber insurance industry for massive…
Read More “Fears of Massive Cyber War Losses are Overblown: Catastrophic Risk Expert” »
Cyber security claims are back up and could show 25% YoY growth for 2023, says a new Allianz Commercial report. Not only are claims increasing, but so is the complexity of…
Read More “Cyber Security Claims Increasing this Year & So is Complexity of Attacks: Allianz” »