Cyber Insurance Policies & Strategies

Zurich, CTA, and CyberGreen Push Common Cybersecurity Metrics as Insurance Gap Widens

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Zurich Insurance Group, the Cyber Threat Alliance, and the CyberGreen Institute released “Cyber Metrics for Key Decision-Makers.” The report recommends the establishment of standardized national cybersecurity metrics, based on six key measures and a supporting institutional framework. In plain terms: agree on common definitions, measure consistently, and publish national scorecards. In the smallest way, this … Read more

Move Over Wind & Earthquakes, Here Come Cyber Cat Bonds

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Wind (including hurricanes) and earthquakes have long been the “peak perils” that keep insurance executives up at night and dominate the $54 billion market for cat (catastrophe) bonds to backstop insurance and resinsurance companies. But now cyber cat bonds are moving up in demand, in part because cyber risk is (in general) uncorrelated with natural … Read more

AON Details Its Cyber Insurance Intake Process

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We’ve reported on AON’s new cyber risk report with posts including one on the drop in ransomware payments made by clients of the cyber insurance broker. Another element of the report that struck us as interesting: details on AON’s “Cyber Quotient Evaluation (CyQu), a patented global cyber e-submission platform,” the key part of the broker’s … Read more

AXA XL Cybersecurity Communications Training Empowers CISOs

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In cybersecurity, where TLAs (three-letter acronyms) and technical lingo dominate, clear communication often becomes a casualty. AXA XL’s latest initiative aims to address that confusion—because, as Mark Twain once said, “The difference between the almost right word and the right word is really a large matter—it’s the difference between the lightning bug and the lightning.” … Read more

Retailer M&S to Make $133 million Cyber Insurance Claim: Media Reports

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British retailer M&S (Marks and Spencer) is expected to make a cyber insurance claim of around £100 million (app. $133 million) following a hack that forced the company to stop taking onine orders and also exposed customer data, the Financial Times (FT) and other media sources report (paywall may apply.) Allianz & Beazley on Hook … Read more

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