The Source for Cyber Insurance News, Insights and Data
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 that cybercrime can be used to fund terrorism, spread misinformation, and disrupt critical infrastructure. “Cybercrime is a growing threat to all countries,” Modi said. “It … Read more
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 report any material cyber breaches within four business days. Additionally, companies are obligated to disclose their processes for managing cybersecurity risks. The SEC asserts this … Read more
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 deductible to start with, large enough to deal with many of the claims that we see from membership, and also to give the members an … Read more
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 on a scale not previously seen, denting confidence in available cyber risk models and deterring investors from committing capital to the nascent cyber catastrophe bond … Read more
“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 insurance brokers to renew or apply for insurance policies, including cyber insurance, for the upcoming year. For the 1,981 schools hit by ransomware last year, … Read more