The Source for Cyber Insurance News, Insights and Data
You’ve got a month-and-a-half to suggest “any potential changes to the [Terrorism Risk Insurance Act] or [Terrorism Risk Insurance Program] that would encourage the take up of insurance for cyber-related losses arising from acts of terrorism as defined under TRIA, including but not limited to the modification of the lines of insurance covered by … Read more
Where reporting requirements exist, lawsuits follow. “The Cyber Incident Reporting Act puts in motion important new cybersecurity reporting requirements that will likely apply to businesses in almost every major sector of the economy, including health care, financial services, energy, transportation and commercial facilities.” Source: Biden Signs Cyber Incident and Reporting Act, Requires Reporting
Law firm Lowenstein Sandler warns: “If these subrogation actions ‘stick,’ policyholders should expect that once a cyber claim is paid by an insurer, that will not be the end of their involvement with responding to the breach. Rather, policyholders will be obligated under the terms of their policies to make their records, investigation results, and … Read more
The company’s Global Threat Brief H1-2022 calls out several sectors with significant risk: education, healthcare, manufacturing and utilities. As for specific attacks: “In the first half of 2022, we can expect to see an active cyber threat landscape with more digital supply chain and Single Pointof Failure (SPoF) attacks… CyberCube expects to see ransomware threat … Read more
Also says company has been able to reduce number of ransomware claims seven fold. Source: “Half of our DNA is cyber security” – CEO | Insurance Business America