The Source for Cyber Insurance News, Insights and Data
Jon Bateman, senior fellow in the cyber policy initiative of the Technology and International Affairs Program at the Carnegie Endowment for International Peace: “’If we see a true cyber catastrophe on the order of a hundred billion or more losses or insured losses in one country, the government is going to step in, regardless of … Read more
Article also warns that many attacks on schools are not reported. “Adequate third-party risk transfer through cyber insurance is becoming increasingly unattainable for school districts, with annual premiums across K-12 cyber policies reportedly soaring more than 300% (according to Aon PLC) and coverage levels shrinking.” Source: US School Districts’ Cyber Risk Heightened by Limited Resources
Investors continue to back insurtech companies focused on cyber. Forgepoint Capital did this round. “‘Surefire Cyber’s goal is to work with our clients and partners to swiftly manage a cyber incident and then bring forward capabilities to help them become more cyber resilient. Our delivery of end-to-end digital forensics and incident response capabilities is built … Read more
“’In general, providing coverage under TRIP for damage inside the US from a foreign event would be best considered as a type of loss that was envisioned to fall under the umbrella of coverages under TRIP. Foreign events such as those contemplated in the Treasury’s inquiry would meet the intent of covered damage under TRIP … Read more
“’Some insurance carriers have actually pulled out of the whole business of cyber insurance for municipalities. They find the risk is just too much for them…(a) policy that would provide coverage for $2 million or $5 million has now been reduced considerably, while at the same time the cost of premiums has gone up dramatically, … Read more