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We’ve seen such attacks. They’re tricky, often made possible by poor cyber hygiene, and require attention to detail by employees as a final defense (“Boss, are we really supposed to…
Read More ““Fraudulent Instruction” Attacks Surge: Beazley ” »
“The group threatened to release the data of Medibank’s ‘1k most [prominent] media persons’ which includes ‘[those with the] most [social media] followers, politicians, actors, bloggers, LGBT activists [and] drug…
Read More “Creepy Twist from Hackers of Australian Insurance Company Medibank” »
“(F)ederal prosecutors alleged that in an attempt to cover up the security violation, (then Uber security executive Joe) Sullivan had ‘instructed his team to keep knowledge of the 2016 Breach…
Read More “Feds: Uber’s Ex-Security Chief Covered Up Hack and Deserves Criminal Punishment ” »
“’So then the question is going to be, well, is there coverage for the attack? Is there coverage for the fire? Does the policy exclude coverage for both? And these…
Read More ““Physical” Cyber Attacks to Vex Insured and Insurers ” »
“New research released this week revealed that 64% of security decision-makers across the US, UK, France, Germany, Belgium, Netherlands and Australia suspect their organization has been directly targeted by a nation-state…
“In its ‘2022 Cyber Insurance Market Trends Report,’ Panaseer surveyed 400 insurers across the globe; respondents cited cloud security as the top factor when assessing security postures because of the…
Read More “What Security Factors Worry Insurers the Most? ” »
“As of March 31, when coverage begins or is renewed, syndicates must exclude state-backed cyberattacks from policies that protect against physical and digital damage caused by hacks, Underwriting Director Tony…
“When SJ filed its claim with Travelers, the court noted, it did so only under the social engineering fraud agreement. After realizing the policy limit on computer fraud was 10…
“The Hive group claims to have breached the system and then obtained details of its cyber insurance policy to use in negotiations. ‘We are very well informed and precise in…
Read More “Hacker Group Cites Target’s Cyber Insurance Limits in Ransom Demand ” »
Note the language in the policy that appears to exclude losses from similar scams. It’s in the courts now. “Star Title’s employees purportedly failed to authenticate the perpetrator’s wire instructions….
Read More “Rhu-row — Cyber Insurance May Not Cover “Phishing” Fund Diversion Scams ” »