The Source for Cyber Insurance News, Insights and Data
An appeals court found T-Mobile can cover its Zurich deductible with funds it recovered from a vendor involved in the breach. “The court rejected Zurich’s argument that a policyholder can’t use a third-party payment as a deductible and found that the insurer must cover T-Mobile’s losses stemming from the breach. The decision will add firepower … Read more
You’ve got until Jan. 17th to weigh in. See instructions in the embedded document at the link below. Requested feedback includes: “Address incentivizing cybersecurity adoption and compliance. TSA wrote that it ‘is particularly interested in comments on types of incentives, such as liability protection, insurance, commercial contracts, or other private- or public-sector options, that would … Read more
The new deadline to comment on the issue is December 14th. “Pursuant to a recommendation from the Government Accountability Office, under direction from Congress to investigate the question, the agencies are seeking answers on ‘the extent to which risks to critical infrastructure from catastrophic cyber incidents and potential financial exposures warrant a federal insurance response,’ … Read more
Australia’s Home Affairs Minister said the government is considering just such a move, following a dramatic ransomware attack (where the victim did not pay ransomware and had no cyber insurance). A recent study reports that ransomware payments are far from guaranteed to produce system recovery. “(T)he Veeam report said: ‘One of the more notable statistics … Read more
“During an XChange session titled ‘What An MSP Needs To Know About Cyber Insurance,’ …Paul Vedder, managing director of Palm Beach Grardens, Fla.-based VXI…agreed that compliance is becoming a larger segment of their business relationships with customers. Vedder, responding to questions from panel moderator Jim King of Atlantic Pacific Insurance, said that MSP personnel need … Read more