The Source for Cyber Insurance News, Insights and Data
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
“At a time when the need for cyber insurance has never been more clear, brokerages have spent much of 2021 decreasing coverage and increasing rates. But on Friday, tucked into a Reuters story, a big shoe appeared to drop: Lloyds of London, the carrier holding nearly a fifth of the cyber insurance market, discouraged its … Read more