The Source for Cyber Insurance News, Insights and Data
Brit Group Holdings Limited has introduced FI Cyber Max, a consortium designed specifically to address cyber risks faced by large financial institutions. The offering streamlines insurance for complex cyber exposures, meaning it makes it easier for institutions to get coverage for incidents like data breaches and system disruptions. Brit said the structure aims to simplify … Read more
The global cyber insurance market size is positioned for strong long-term growth, but competitive challenges are increasing for re/insuers, according to recent analyses from Market Research Future and S&P Global Ratings. According to a Market Research Future report, the cyber insurance market size is projected to expand from $13.13 billion in 2024 to $126.89 billion … Read more
Financial Leaders Warn: Cyber Incidents Now Threaten Investor Confidence In financial services, trust equals capital. Once it’s broken, the path to recovery and restoration of trust can be daunting. Cyber insurance can absorb financial losses. But can it prevent client withdrawals or restore trust after an attack? Nearly nine in ten financial executives say a … Read more
Cyberattacks Hit Nearly Half of Portfolio Companies – Almost half of private equity (PE) portfolio companies reported cyber incidents in the past year, many involving ransomware or extortion attempts. PE Cybersecurity and cyber insurance are the focus of the Private Equity Cyber Survey White Paper by QBE, which surveyed 300 risk managers and CISOs at … Read more
We’ve reported that insurance giant Aflac filed an SEC 8-K form in June to disclose that a hacker had used “social engineering” to gain “unauthorized access to its network.” Interestingly, at least for cyber insurance nerds such as us, Aflac did not file an “Item 1.05” 8-K for a “material” cyber event, but rather an … Read more