The Leading Source for Cybersecurity Insurance News, Insights and Data
“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…
“If Merck eventually winning seems like good news for enterprises in similar policy situations, it is — but with a caveat. The vagaries of the policy meant it took five…
“New Jersey Superior Court Judge Thomas J. Walsh ruled Jan. 13 that Merck’s insurers can’t claim the war exclusion because its language is meant to apply to armed conflict. The ruling…
Keep an eye on the role of Managing General Agents/MGAs (brokers with underwriting authority from carriers), says @CyberDanBurke. “Greater adoption of MGA capacity and the willingness of traditional cyber insurance…
“While the strategy may protect companies in the case of a lawsuit, since much of a legal firm’s research would be considered privileged information, the legal layers also make the…
“According to (Procor Solutions and Consulting’s Chris) Mortifoglio, who is a Certified Public Accountant and a Certified Fraud Examiner (CFE), understanding the ‘nuances and differences’ of a cyber insurance business…
Read More “Business Interruption Among Topics in Insurance Journal’s Top Cyber Stories of 2021” »
“Because the market is changing so rapidly, what underwriters require today might look completely different compared to what we may require in 30-days’ time. As such, it’s important for brokers…
“The company explained it will no longer cover losses resulting from ‘cyber-war,’ which it defined as a cyber-operation carried out as part of a war, any retaliatory attacks between specified…
Read More “Lloyd’s Won’t Cover Losses from State-Sponsored Cyber Attacks ” »
“At a time when the need for cyber insurance has never been more clear, brokerages have spent much of 2021 decreasing coverage and increasing rates. But on Friday, tucked into…
Read More “Cyber Insurance Market Looks for New Approach, With Lloyds Downshifting on Coverage ” »
“Jen Easterly, director of the Cybersecurity and Infrastructure Security Agency, known as CISA, told the House Homeland Security Committee Wednesday that ‘ransomware has become a scourge on nearly every facet…
Read More “Ransomware Threatens the “American Way of Life:” Biden Admin Official ” »