The Source for Cyber Insurance News, Insights and Data
We’ve discussed other findings from the recent Bermuda Monetary Authority (BMA) report, but we’re also struck by the increase in cyber insurance captives and cyber ILS vehicles documented by the financial regulator. The growth of Cyber Insurance Captives and Cyber ILS (Insurance-Linked Securities) is all related to the growth of reinsurance in the cyber market; … Read more
“Artificial intelligence systems” (“AIS”) and “external consumer data and information sources” (“ECDIS”) can help insurers and companies, New York State regulators concede, but the technologies better not hurt “protected classes” or “perpetuate or amplify systemic biases that have resulted in unlawful or unfair discrimination,” warns the state in new regulatory guidance. Given the complexity of … Read more
Mullen Coughlin LLC, a global data privacy and security law firm, announced the addition of Thomas I. Moran, CIPP/US, as a Partner in its Incident Response practice in Ohio. This expansion brings the firm’s team to over 130 attorneys, enhancing their capacity to serve clients and the cyber insurance industry in a rapidly changing data … Read more
Coverdash has partnered with Drata, a security and compliance automation platform. This collaboration aims to automate the cyber insurance component of SOC-2 compliance, significantly simplifying the process for businesses. SOC-2 compliance, developed by the American Institute of CPAs (AICPA), is a voluntary framework that ensures companies securely manage customer data to protect privacy and confidentiality. … Read more
In response to the European Union’s stringent new Network and Information Security Directive cybersecurity regulations (NIS2), Bitsight, a global cyber risk management firm, has announced significant investments to enhance its third-party risk management solutions in Europe. These investments aim to help businesses comply with the NIS2 Directive, which mandates stronger cybersecurity measures and improved risk … Read more