The Source for Cyber Insurance News, Insights and Data
Government regulations impacting cyber security and cyber insurance.
Progress Software Corporation (PRGS) is the provider of MOVEit Transfer software, a program responsible for what is widely considered the largest hack so far in 2023, impacting at least 2,000 enterprises and 60 million individuals, according to media reports. The Company has now issued a 10Q report (10/10/23) providing details on the attack and recoveries … Read more
The cybersecurity landscape is evolving rapidly, and the recent SEC (Securities and Exchange Commission) rules have added a new layer of complexity for public companies. Jeremy King of Olshan Frome Wolosky has delved into the crucial issues surrounding cyber risk management and the implications of these rules. Below we explore the insights shared by Bloomberg … Read more
We’ve told you about the new SEC rules requiring disclosure by public companies of material cyber attacks within four business days. The rules are still being phased in, but Caesars Entertainment appeared to be proactive after its recent social-engineering breach that disclosed the driver’s license and/or social security numbers of loyalty program members. The attack … Read more
“’There’s been a hole that’s opening up between cyber and D&O policies, and this will widen the gap and require creative work by brokers to close, (Arturo Perez-Reyes, senior vice president and cyber strategist at San Francisco-based Newfront Insurance) said.” The causes include the recent SEC cyber regulations, about which we’ve written extensively. The required … Read more
Here are some of the new reports from law firms about the SEC Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure rules (see a useful observation from Woodruff Sawyer after the list): Among the useful observations are these from Woodruff Sawyer (there are more at this link): “The SEC asserts that the rule is not … Read more