The Source for Cyber Insurance News, Insights and Data
“Polk County won’t be adopting a special cyber insurance plan out of concern that doing so could increase risks of being hacked, county administrator John Norris told supervisors in a memo this month.” Source: Polk County rejects cyber insurance following review – Axios Des Moines
“’Some insurance carriers have actually pulled out of the whole business of cyber insurance for municipalities. They find the risk is just too much for them…(a) policy that would provide coverage for $2 million or $5 million has now been reduced considerably, while at the same time the cost of premiums has gone up dramatically, … Read more
You’ve got a month-and-a-half to suggest “any potential changes to the [Terrorism Risk Insurance Act] or [Terrorism Risk Insurance Program] that would encourage the take up of insurance for cyber-related losses arising from acts of terrorism as defined under TRIA, including but not limited to the modification of the lines of insurance covered by … Read more
“Adam Frumkin, chief information officer at the Franklin County, Ohio, Data Center and his team answered almost 500 questions in a back-and-forth with a cyber insurance provider last year. In the end, they got coverage – but for half the amount at double the cost.” Source: Agencies confront rising cyber insurance rates – GCN
“Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency, known as CISA, told the House Homeland Security Committee Wednesday that ‘ransomware has become a scourge on nearly every facet of our lives, and it’s a prime example of the vulnerabilities that are emerging as our digital and our physical infrastructure increasingly converge.’” Source: ‘American … Read more