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“’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…
“’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…
You’ve got a month-and-a-half to suggest “any potential changes to the [Terrorism Risk Insurance Act] or [Terrorism Risk Insurance Program] that would encourage the take up of insurance for…
“Data in motion is the most valuable data for companies. It’s also the data that carries the most risk for network security,’ says Stephen Cardot, founder and CEO of CloudCover. ‘Cyber…
Read More “CloudCover® Says It’s First With Cyber Insurance that Covers Data in Motion” »
ILS= Insurance Linked Securities, which are financial instruments supporting retrocession, or reinsurance for reinsurers. Verisk surveyed ILS funds on their appetite for cyber insurance. “Thirteen ILS funds, representing nearly $60…
Read More “How Can the Cyber Insurance Market Increase Capacity? It’s Spelled I-L-S, Says Verisk” »
Insurers have been tightening their war exclusions and clarifying attribution requirements, especially after the recent court win by Merck over reimbursement of its losses from 2017’s NotPetya malware attack. “However,…
Read More “Cyber Insurers Unlikely to Face Major Losses from Russia/Ukraine War: DBRS Morningstar” »
“But there is currently no good way for talking about and dividing up the different impacts of a single piece of code in the context of insurance claims, so the…
Read More “How “Far Away” Does the War Need to Be for Cyber Insurance Exclusions to Apply? ” »
“’Coming off a very successful first year in the market, this is an excellent time to put our money where our mouth is and take a share of the risks…
“’In most instances, having standalone cyber coverage has proven to provide the most comprehensive coverage in the cyber realm’ and insurers have made an effort to eliminate so-called ‘silent’ cyber…
Read More “Insurers & Lawyers for Policy-Holders Alert for “Silent” Cyber Coverage ” »
“One company, New York-based Parametrix Insurance Services LLC, is targeting businesses hit by a cloud outage. Parametrix sells insurance specifically to mitigate the risks of downtime events, compensating businesses for…