The Source for Cyber Insurance News, Insights and Data
The global economy relies heavily on shipping, with over 90% of global trade transported by sea. However, the maritime industry remains an “easy target” for cybercriminals. This cyber risk and the cost of attacks and demand for ransom payments across the sector have skyrocketed over the past 12 months, according to a new report by … Read more
A recent study conducted by QBE Insurance Group has uncovered alarming statistics concerning the susceptibility of businesses to cyber-attacks. The research points to employee errors and inadequate security measures as prime culprits. Among the findings? Nearly a third of employees, comprising 31%, have committed errors with the potential to compromise the cybersecurity of their workplace. … Read more
CFC, a leading specialist insurance provider in emerging risk and a market leader in cyber insurance, conducted a recent survey revealing that IT departments constitute the biggest obstacle to the sale of cyber insurance policies. Brokers from across the United States participated in the poll. It sheds light on the challenges they face when promoting … Read more
A recent report published by the International Underwriting Association (IUA) and CyberCube has shed light on the increasing significance of supply chain risks within cyber insurance. It underscores the need for underwriters to scrutinize their clients’ business continuity plans. All while providing a comprehensive checklist for assessing an organization’s cyber supply chain. In a digital … Read more
In a startling revelation, Lloyd’s, the world’s premier insurance and reinsurance marketplace, has unveiled a systemic risk scenario that paints a grim picture of the global economy’s susceptibility to a major cyber attack. This hypothetical envisions a cyber strike on a major financial services payments system, leading to widespread disruption in global operations. The potential … Read more