The Source for Cyber Insurance News, Insights and Data
As the risks of AI grow alongside its benefits, many insurers are taking action to exclude AI-related liabilities from policies. But these AI insurance exclusions appear more common in coverage such as directors and officers (D&O) and errors and omissions (E&O) than cyber insurance, where insurers often cover AI liabilities and are adding coverage. These … Read more
The cyber insurance and cybersecurity markets are known for their buzzwords, which are often defined differently by various stakeholders. “Cyber warfare” is often used to describe attacks aiming at military or strategic impact, as opposed to hacks designed to steal money. A new market research report asserts this market represents app. $26.6 billion in spending … Read more
Info Stolen! The exposed credentials open “the doors to pretty much any online service imaginable, from Apple, Facebook, and Google, to GitHub, Telegram, and various government services,” reports news site Cybernews on the massive log-in breaches. The site identifies the likely culprits as hacking groups using “infostealers,” malware designed to steal passwords and other data … Read more
The Marks & Spencer hack — which might cost the retailer $400 million in profits, erased even more in market cap and could lead to cyber insurance claims of at least $133 million — is just one of three recent hacks of large British retailers. “At some point the increase in frequency and severity — … Read more
The hack of British retailer Marks & Spencer could reduce its profits over the coming year by £300m (more than $400 million), according to its recent report of financial results for the London Stock Exchange. This impact substantially exceeds the initial $133 million cyber insurance claim the company is expected to file. Marks & Spencer … Read more