The Source for Cyber Insurance News, Insights and Data
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
“We’ve come a long way in our journey from the first ever cyber cat bonds, which were private, we’ve now got three 144A cat (catastrophe) bonds out there covering the cyber risks,” said Richard Gray, Head of Third-Party Capital at Beazley in this report from Artemis, a provider of information on insurance catastrophe bonds and … Read more
Demand for cyber insurance-linked securities (ILS) products should increase and there’s plenty of room for growth given their relatively low volume compared to similar securities linked to natural events, says Fitch Ratings, a major provider of credit ratings and analysis. “These (recent ILS) transactions of $145 million are a small fraction relative to the $10 … Read more
We’ve reported extensively on the SEC cyber disclosure rule that requires public companies to submit 8-K filings when they’re hit with cyber attacks. For some reason, the rule has attracted criticism from several media outlets in recent days. Earlier this week Bloomberg Law provided a critical review (under paywall) of how companies have responded to … Read more