The Source for Cyber Insurance News, Insights and Data
“Lawmakers also want CISA (Cybersecurity and Infrastructure Security Agency) to report back in 90 days about the feasibility of a public-private ‘cyber insurance and data analysis’ working group and establishing an accreditation program for third-party cybersecurity providers that work with federal agencies, critical infrastructure operators and state and local governments.”
Morley Companies settled for $4.3 million in relation to its August 2021 hack. The company did not report the data theft to the public until early 2022, apparently running further afoul of California and HIPAA regulations. “The Michigan-based third-party vendor provides process outsourcing for a range of U.S. companies, including healthcare. A little more than … Read more
American Property Casualty Insurance Association’s response to the federal government’s request for comment on cyber insurance issues: “We believe it is premature to explore the details of a federal insurance response without conducting a thorough study of the threshold questions raised above to determine where, if at all, such a response is needed. Nevertheless, experience … Read more
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