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“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 ” »
“Munich Re has been involved in managing cyber risk from the first moment it became a consideration. The results of our Global Cyber Risk and Insurance Survey 2022 underline that…
Read More “Useful Survey on Global Cyber Risk and Insurance from Munich Re” »
“Drawing on SpyCloud’s database of over 200 billion recaptured assets, researchers identified over 687 million exposed credentials and PII tied to Fortune 1000 employees, a 26% increase from last year’s…
“The vendor-agnostic survey of 5600 IT professionals, conducted by Vanson Bourne, found that 98% of businesses hit by ransomware had cyber insurance that covered ransomware and that the policy paid…
“Munich Re is planning new wordings in cyber insurance policies to exclude war, to avoid disputes over what is covered, the reinsurer’s top cyber underwriter told Reuters.” Source: Munich Re…
Read More “Better Late Than Never: Munich Re Tightens Cyber Insurance Policies To Exclude War ” »
“If Russia carries out a large cyber attack which spills over into several countries, it could lead to claims totalling (sic) $20 billion or more, similar to insurance claims from…