Cyber Insurance Geographic Markets

EU Gives Itself Passing Grade, Barely, on Cybersecurity — New Report from European Union Agency for Cybersecurity (ENISA)

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The “2024 Report on the State of Cybersecurity in the (European) Union” is the first report from the European Union Agency for Cybersecurity (ENISA) that provides an overall index of cybersecurity among its member nations. “The EU Cybersecurity Index scored an average of 62.65/100, reflecting progress but highlighting gaps, particularly in vulnerability disclosure and R&D … Read more

EU Countries Blow Off New Cyber Security Regulations & European Commission Is Not Pleased

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The European Commission has launched “infringement procedures” against a majority of its member states for failing to meet an October deadline to enact EU cyber security regulations. The regulations come in two packages: the NIS2 Directive, aimed at enhancing cyber security and the Critical Entities Resilience (CER) Directive, focused on safeguarding critical infrastructure. “The Commission … Read more

Howden Says Cybersecurity Gaps Cost UK £44bn; Is Russia Poised to Exploit Weaknesses?

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UK businesses have lost £44 billion to cyber attacks in the past five years, according to Howden. Half of UK businesses, about 1.3 million companies, suffered at least one cyber attack during this time. The average cost of these attacks equals 1.9% of revenue. The Targets Large businesses were the most targeted. Seventy-four percent of … Read more

CFC Launches European Cyber Team, Appoints Ilaria Silvato to Spearhead Growth

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CFC has launched a dedicated European corporate cyber team to expand its cyber insurance services across Europe. The specialist insurer appointed Ilaria Silvato, former international underwriting manager for cyber risks at Beazley, to lead this team and drive its growth. Silvato, with 13 years in the insurance industry, brings extensive knowledge of the insurance cycle … Read more

Vienna Insurance Group Launches Cyber Security Firm to Protect SMEs

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Vienna Insurance Group AG (VIG), the largest insurance group in Central and Eastern Europe, has established Cyber Risk Solutions GmbH (CyRiSo), a new cyber security company targeting small and medium-sized enterprises (SMEs). The firm aims to provide comprehensive support to reduce cyber risks and to prevent and resolve damage from cyber attacks. “Cyber attacks have … Read more