The Source for Cyber Insurance News, Insights and Data
“’So I think we should have reference standards appropriate for SMEs that would be a real target for them to know what they should do to implement cybersecurity. If we do that, then insurers will also be happier to insure them. So we would have better cyber protection and cyber risk management across Europe,’ said … Read more
From the Dept. of Treasury — SUMMARY: Over the past several years, the Federal Insurance Office (FIO) in the U.S. Department of the Treasury (Treasury) has continued its ongoing efforts with regard to both cyber insurance and insurer cybersecurity. Cyber insurance is a significant risk transfer mechanism, and the insurance industry has an important role … Read more
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 sec measures being taken by companies and the future of regulation by SEC and other federal entities. Source: How cyber governance and disclosures are closing … Read more
“Should an existing federal insurance program (e.g., NFIP or TRIP) or other U.S. or international public-private insurance mechanisms serve as a model for, or be modified to address, catastrophic cyber incidents?’ the notice asks…The (US Treasury) Department’s Federal Insurance Office—together with the Cybersecurity and Infrastructure Security Agency—is soliciting feedback in preparation for a report to … Read more
“If this federal court case proceeds, and gains class-action status that the litigants are seeking, it could further alter already evolving compliance and liability concerns for banks and other U.S. financial institutions that get hacked — putting more responsibility on them to be proactive and thorough in their IT security efforts. The lawsuit might also … Read more