The Source for Cyber Insurance News, Insights and Data
Marsh analyzed its claims data and responses to customer self assessments. The resulting report may surprise some folks… “Automated hardening techniques — by a wide margin — have the greatest ability of any control studied to decrease the likelihood of a successful cyberattack, making it a key control to prioritize in order to minimize losses. … Read more
As with the AI announced last week by Coalition, Cowbell’s solution appears focused on enhanced broker and customer service, versus direct cyber risk purposes. “MooGPT assists brokers and policyholders in getting on-demand guidance on risk assessment, such as Cowbell Factors and Cowbell Insights, non-binding premium indications, and provides information on the claims process. MooGPT assists … Read more
Interesting that the first announced application is for enhanced broker and customer service, versus direct cyber risk purposes. The InsurTech cyber insurance provider does note it’s working on AI-related cyber vulnerabilities. “’AI is already reshaping the cyber risk landscape,’ said Tiago Henriques, vice president of security research at Coalition. ‘While we are applying our AI … Read more
“Cyber insurance will undergo an identity crisis,” says the Financial Services Information Sharing and Analysis Center (FS-ISAC), the cyber intelligence-sharing community for financial services. “(S)ome financial sector firms are beginning to reconsider cyber insurance. In some cases, premiums rise so high that firms are considering ring-fencing capital equivalent to the estimated premiums as an alternative … Read more
Summarized from the press release: Sophos has joined forces with Cowbell to provide small and medium-sized enterprises (SMEs) with an easier way to access cyber insurance. The partnership allows Sophos customers to share their security health information with Cowbell, streamlining the insurer’s risk assessment process and enabling assessors to evaluate defenses against requirements for insurance … Read more