Indian PM Cybercrime Collaboration Needed
In an exclusive interview with PTI, Indian Prime Minister Narendra Modi called for global collaboration to combat cybercrime, which he said is a “growing threat” to all countries. Modi said…
SEC Reveals Its Cyber Reporting Rule, Scrambling and Confusion Sure to Follow
The U.S. Securities and Exchange Commission (SEC) has issued its new cybersecurity rule, which aims to enhance transparency and accountability in managing cyber risks. The rule requires businesses to promptly…
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Joint (Cyber) Insurance Funds (JIFs) For Public Sector Enterprises
An example from broker Conner Strong & Buckelew: “A key thing to convince the insurance companies to get onboard was having a large retention… We decided to implement a large…
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Scenarios for the Future of Cyber Insurance: Report from Conning
The insurance research firm considers the future of the industry, including if a catastrophic attack occurs. “(A) still immature cyber market is rocked by one or more near-term catastrophe events…
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No Lazy Days of Summer for K-12 Schools Trying to Get Their Cyber Insurance Renewed
“Most school districts’ insurance policies expire on July 1, which means it is crunch time for collecting information and submitting applications. K–12 IT leaders should work in partnership with their…
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University of California System Sues Lloyd’s Over 2014 Hack
Lloyd’s denies it has to pay under the terms of the insurance policy, but the university system claims the damages are covered under California rules of policy interpretation. A 2019…
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Time for Gov Agencies to Lock in Lower Cyber Insurance Costs: AON
“’You all heard the horror stories in ’22 about 150% increases in premium,’ said Bryan Hurd, Seattle-based vice president of Aon cyber solutions…’Now, the market has actually softened,’ he said,…
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Google Exec Makes the Case for a Federal Cyber-Insurance Backstop
Google exec @MonicaShokrai details the benefits of such a federal policy, including attracting more capital to the cyber insurance market: “Broadly speaking, insurance can drive resilience as a society: Not…
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CA County Pays Ransom; Cyber Insurer Covers Much of It
“After ‘careful consideration,’ county officials opted to pay the $1.1 million ransom to the unknown hacker to regain control of their system. An insurance policy ensured a payout of $511,852,…
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Back to Chalk at PA School District Hit By Ransomware
The hack has led to the loss of internet in classrooms. “After three days without Internet service, Penncrest School District teachers and students are ‘getting creative,’ according to Superintendent Tim…
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