The Source for Cyber Insurance News, Insights and Data
This report provides useful information on holiday DDOS attacks, including the specter of combined attacks that use DDOS as a diversion while launching more serious hacks. But another lump of coal comes at the very end of the article: “Companies that have cyber insurance can attempt to recoup financial losses incurred from a DDoS attack … Read more
“There has been a huge increase in the number of insurers that specifically exclude cyber events that affect digital building systems, such as HVAC, lighting, elevator, parking, and access control, from their policies. The latest policy from Allianz Engineering for construction and power, for example, explicitly excludes coverage for loss, damage, legal liability, additional expenditure or … Read more
Concierge Cyber offers pre-arranged incident response services to small and medium businesses (along with some “pre-loss” security services, such as training). Given the imperative for companies to react rapidly to serious hacks, this strikes us as a potentially helpful solution for smaller companies that don’t have big law firms and cyber security advisors on speed … Read more
Josephine Wolff offers the critique in her well-researched book, Cyberinsurance Policy: Rethinking Risk in an Age of Ransomware, Computer Fraud, Data Breaches, and Cyberattacks (MIT Press, 2022). Are insurers and insurtech companies placing too much emphasis on narrowly-defined cyber coverage, security controls and hacking data and not enough on holistic underwriting? “In trying to treat … Read more
“During an XChange session titled ‘What An MSP Needs To Know About Cyber Insurance,’ …Paul Vedder, managing director of Palm Beach Grardens, Fla.-based VXI…agreed that compliance is becoming a larger segment of their business relationships with customers. Vedder, responding to questions from panel moderator Jim King of Atlantic Pacific Insurance, said that MSP personnel need … Read more