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“’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…
Read More “Europeans Want to Beat US Regulators to Cyber Standards that Support Insurance ” »
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…
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…
“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…
“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….
Read More “Lawsuit Against KeyBank Harbinger of Emerging Cyber Liability Dynamics” »
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 ” »
“Among other steps, Kentucky’s law requires insurers to ‘identify reasonably foreseeable internal or external threats that could result in unauthorized access, transmission, disclosure, misuse, alteration, or destruction of nonpublic information,…
You’ve got a month-and-a-half to suggest “any potential changes to the [Terrorism Risk Insurance Act] or [Terrorism Risk Insurance Program] that would encourage the take up of insurance for…
Where reporting requirements exist, lawsuits follow. “The Cyber Incident Reporting Act puts in motion important new cybersecurity reporting requirements that will likely apply to businesses in almost every major sector…
Read More “Cyber Incident and Reporting Act Signed by President Biden ” »
Insurers have been tightening their war exclusions and clarifying attribution requirements, especially after the recent court win by Merck over reimbursement of its losses from 2017’s NotPetya malware attack. “However,…
Read More “Cyber Insurers Unlikely to Face Major Losses from Russia/Ukraine War: DBRS Morningstar” »