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Cyber security claims are back up and could show 25% YoY growth for 2023, says a new Allianz Commercial report. Not only are claims increasing, but so is the complexity of…
Read More “Cyber Security Claims Increasing this Year & So is Complexity of Attacks: Allianz” »
Insurers say ransom-related claims rose sharply in the first half of 2023, the Wall Street Journal reports in this article (paywall may apply). “Along with the rise in claims related…
MGM Resorts International’s stock saw a 4.86% increase, closing at $36.48 on Friday. The move was buoyed by news that the company possesses ample cyber insurance to mitigate losses from…
Read More “MGM Shares Up Almost 5% On News Cyber Insurance Will Cover Hacker Attack” »
We’ve told you about the new SEC rules requiring disclosure by public companies of material cyber attacks within four business days. The rules are still being phased in, but Caesars…
Read More “The Caesar’s Attack as Reported in a Public Disclosure” »
Cyber Insurance News has wondered how often ransomware gangs — groups of criminals often supported by hostile foreign powers — can be trusted. We asked Jennifer Coughlin of Mullen Coughlin,…
“12% (of 180 IT/cybersecurity professionals surveyed in June) had no idea whether ransomware is covered at all” in their cyber insurance policies.” About 28% of the respondents said their company…
Read More “Some IT Pro’s Confused About Their Cyber Insurance: InformationWeek Survey” »
The round adds to $225 million already raised by the company. The round was led by Intact Ventures, an affiliate of Resilience’s primary capacity provider, with participation by Lightspeed Venture…
“Over a 12-month research project, researchers from RUSI (Royal United Services Institute for Defence and Security Studies), the University of Kent, De Montfort University and Oxford Brookes University conducted a…
Read More “Conventional Wisdom on Cyber Insurance & Ransomware is Wrong: British Think Tank ” »
“While an insurance company may pay a ransom to get file decryption keys, ‘they won’t pay an extortion fee,’ Wisniewski said. ‘The conventional wisdom of insurers has been, ‘I’m buying…
Yes, says Veeam’s survey of 1,2000 IT pros from companies hit by ransomware last year. In 2022, “77% of ransoms were paid by insurance, but that is becoming harder and…
Read More “Ransomware Increasingly Being Excluded from Cyber Insurance Policies?” »