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Thought the risk of being sued for a cyber breach was already high? It’s getting worse, Carolyn Purwin Ryan, a partner in Mullen Coughlin LLC’s data privacy and cybersecurity practice,…
Read More “Cyber Insurance & Lawsuits: It’s a “Race” to the Courthouse for Cyber Litigation” »
We recently told you how one cyber insurance expert predicts the massive CrowdStrike-caused IT outage may change the cyber insurance industry, including by boosting demand for coverage of non-malicious losses,…
Read More “Are Non-Criminal Claims a Growing Risk for Cyber Insurance Providers?” »
What some call the largest IT outage in history was caused by a faulty software update, not a cyber attack. But the team at Broadstone thinks the CrowdStrike debacle this…
Read More “CrowdStrike Snafu Will Shake Up Cyber Insurance Market: Broadstone” »
We’ve discussed other findings from the recent Bermuda Monetary Authority (BMA) report, but we’re also struck by the increase in cyber insurance captives and cyber ILS vehicles documented by the…
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” »