Cyber Insurance Laws & Regulations

Bitsight Launches Enhanced Cyber Risk Management Features for EU Regulation Compliance

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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

Axa XL Steps up to Cyber Insurance Challenge with New Cyber Insurance Endorsement

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In a world where “your papers are not in order” can spell disaster for any public company, AXA XL is stepping up to the bureaucratic challenge with a new cyber insurance endorsement. This coverage aims to tackle the financial hurdles of adhering to the U.S. Securities and Exchange Commission’s (SEC) stringent cyber incident reporting requirements. … Read more

AI to Increase Cyber Attacks Until Countermeasures Catch Up Over Next 2 Years: Lloyd’s Report

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“The impact of GenAI on the cyber landscape is likely to increase the frequency, severity, and diversity of smaller scale cyber attacks, which will grow over the next 12-24 months, followed by a plateauing as security and defensive technologies catch up to counterbalance their impacts,” predicts the report, “Generative AI: Transforming the Cyber Landscape.” The … Read more

New SEC Rule Requires Companies to Report Cyber Incidents, FBI Offers Guidance on Delaying Disclosure

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Starting December 18, 2023, publicly traded companies in the US will be required to disclose material cybersecurity incidents to the Securities and Exchange Commission (SEC). If an organization determines a cyber incident is “material,” the event must be disclosed within four business days. The FBI, working with the Department of Justice, has released guidance for … Read more

Feds Relaunch Cybersecurity Insurance and Data Analysis Working Group (CIDAWG)

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The Cybersecurity and Infrastructure Security Agency (CISA) release announces a new partnership with Stanford’s Empirical Security Research Group and focuses on analyzing the effectiveness of security controls, with a focus on ransomware. The effort begins in December. “CISA will ask working group members to collaborate with Stanford to improve analysis of the aggregated, anonymized loss … Read more

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