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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…
Read More “Scenarios for the Future of Cyber Insurance: Report from Conning ” »
The report estimates 2022 GDPW (gross direct premiums written) for cyber insurance was almost $13.5 billion and closer to $14 billion when captive insurers are included. According to the report…
“Cyber insurance will undergo an identity crisis,” says the Financial Services Information Sharing and Analysis Center (FS-ISAC), the cyber intelligence-sharing community for financial services. “(S)ome financial sector firms are beginning…
Read More “Financial Sector Chafes at Cyber Insurance Costs & Requirements: Industry Report ” »
From a press release from Shelley Moore Capito (R-WV) on the proposed “Insure Cybersecurity Act:” “A new bill by Sens. John Hickenlooper (D-CO) and Shelley Moore Capito (R-WV) would establish…
The Prudential Regulation Authority (PRA), part of the Bank of England, asked 17 general insurers and 21 Lloyd’s of London syndicates to assess their solvency against a set of cyber…
Focus on cybersecurity for the grid was growing even before criminals attacked Washington and North Carolina substations in December. “The Federal Energy Regulatory Commission is considering developing new cybersecurity rules…
“There has been a huge increase in the number of insurers that specifically exclude cyber events that affect digital building systems, such as HVAC, lighting, elevator, parking, and access control,…
Read More “Smart-Building Landlords Not So Smart About Cyber Insurance? ” »
EY reports it surveyed the SEC filings of 74 Fortune 100 companies and 51% had cyber security insurance. That’s up from 43% in 2021. Report includes interesting statistics on cyber…
According to the report, US FIO and CISA agree with this recommendation: “The Department of the Treasury’s Federal Insurance Office (FIO) and the Department of Homeland Security’s Cybersecurity and Infrastructure…
Read More “GAO Prods Feds to Assess Their Potential Response to Catastrophic Cyber Attacks ” »
Jon Bateman, senior fellow in the cyber policy initiative of the Technology and International Affairs Program at the Carnegie Endowment for International Peace: “’If we see a true cyber catastrophe…
Read More “Would Cyber War Force US Government to Bail Out Losses? ” »