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Cloud Disruptions Rise Critical cloud outages rose by 18% in 2024, lasting nearly 19% longer than in 2023. Google Cloud experienced a 57% increase in downtime hours. Microsoft Azure improved,…
Read More “Cloud Outages in 2024 Increased by 18%, Google Cloud Downtime Up 57% – Parametrix” »
Actuaries get teased for what some outsiders see as a boring job. But a new report makes clear that actuaries are increasingly part of the interesting, sometimes even exciting, world…
Read More “The Growing Importance of Actuaries in Cyber Insurance & Cybersecurity” »
The European Commission has launched “infringement procedures” against a majority of its member states for failing to meet an October deadline to enact EU cyber security regulations. The regulations come…
What some call the largest IT outage in history was caused by a faulty software update, not a cyber attack. But the team at Broadstone thinks the CrowdStrike debacle this…
Read More “CrowdStrike Snafu Will Shake Up Cyber Insurance Market: Broadstone” »
The telephone giant seems more chill than many of its customers, now learning that records of essentially all their calls and texts (but not the content of those communications) between…
Cyber cat bonds issued over the last year are trading above par, “(a)n indication that these bonds are sought after in the secondary market and have not seen spread widening,…
Read More “Cyber Cat Bonds Hold Up in Secondary Market; More Expected” »
Munich RE is out with a useful new report, “Cyber Insurance Risks and Trends 2024,” that ranges from commentary on the growth of various cyber risks (ransomware is back) to…
Read More “The $26 million Video Call from Hell: Munich RE” »
Interesting tidbit in CyberCube yearly report: “All cyber cat bonds issued in 2023 utilized CyberCube’s model, marking an expansion into CyberCube serving the financial sector.” ILS growth in cyber liability…
We’ve reported extensively on the insurance industry’s fear of “cyber war;” debate over exclusions for state-backed, systemic cyber attacks; moves by governments to backstop the cyber insurance industry for massive…
Read More “Fears of Massive Cyber War Losses are Overblown: Catastrophic Risk Expert” »
We’ve reported extensively on the challenges of the cyber insurance industry in modeling systemic risk and the related accumulation risk (insurance risk of multiple, unanticipated claims from the same or…
Read More “You’re Measuring Systemic Risk all Wrong, InsuranceERM Tells Cyber Insurance Industry” »