The Source for Cyber Insurance News, Insights and Data
Oakland was hit with a ransomware attack attack in May and the fall out continues, along with what to us is a surprising, and positive, focus by local media on the city’s cyber insurance coverage. The most recent reporting reveals the city has apparently failed to notify many citizens that their personal information was revealed … Read more
The U.S. Government Accountability Office (GAO) has released a new cybersecurity guide in response to the increasing risks facing federal IT systems. The GAO Cybersecurity Program Audit Guide offers comprehensive guidance for conducting cybersecurity performance audits. This guide is designed with two basic objectives. First, assist Congress, federal departments, state and local auditors, private sector … Read more
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