The Source for Cyber Insurance News, Insights and Data
Modern Bank Robberies Have Gone Digital – Retire the getaway car. Save the ski mask for skiing. The days of the bank heist are dwindling. Well, not really. U.S. bank robberies peaked in 1991 at 9,388. By 2023, the number dropped to 1,362, an 83% decline in 20 years. Today, the average stolen haul is … Read more
The cyber insurance market remains soft, reports broker Gallagher Specialty, and now is the time to purchase coverage before cyber insurance premiums increase. “There is currently a healthy abundance of capacity, and the market continues to observe greater flexibility in underwriting and security controls. The competition and growth strategies in underwriting have led to better … Read more
Insurance giant Aflac will report its Q2 financial results on August 5th. Although its press release is silent on the topic, it seems likely the company cannot duck providing more detail on the cyber event 8-K it filed with the SEC last month disclosing “unauthorized access to its network.” The company has blamed the penetration … Read more
Attend to the Deed, Not The Word – Whether you write it “cyber security” or “cybersecurity,” the threats are real and rising, and two major organisations just joined forces to fight back. The Chartered Institute of Management Accountants (CIMA) has signed a Memorandum of Understanding with Templar Executives to strengthen cyber resilience across Europe’s finance … Read more
New Cyber and Financial Institutions Insurance Targets Digital Asset Risk Head-On – Mosaic Insurance has introduced an insurance product designed for digital asset firms, combining cyber and financial institutions (FI) crime protection under one offering. The new product covers cyber liability, technology errors and omissions (E&O), and crime. Clients can choose stand-alone or blended packages. … Read more