The Source for Cyber Insurance News, Insights and Data
“’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, with some policyholders seeing renewals at the same rates. ‘If claims continue to grow, you can believe the underwriting is going to be even more … Read more
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 only can it enable a fast and effective distribution of funds in the event of a catastrophe, it can also provide a predefined path to … Read more
“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, county officials said. ‘The county had prepared for the possibility of such an incident by securing appropriate insurance coverage,’ Wert said. ‘After negotiating with the … Read more
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 Glasspool. ‘A great teacher can teach with a piece of chalk,’ he said Wednesday afternoon, speaking on a cellphone set up to receive calls to … Read more
Electric vehicles and their infrastructure will create new complexity for insurers. What if a hacker creates a massive car crash? Or a grid is taken down by malware originating in an EV being charged? “In a bid to get the issue under control, insurance companies and EV manufacturers could standardize best practices as a way … Read more