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Top News about Cyber Insurance
Cybersecurity is no longer an abstract threat; it’s an immediate and pervasive danger keeping the CEO of mid-sized River City Bank, Steve Fleming, up at night. Hackers relentlessly target both large institutions for big payoffs and small to mid-sized businesses as easy prey, making cyber resilience essential for any organization. With cyberattacks expected to cause $10.5 trillion … Read more
Email attacks are surging, hitting businesses hard and exposing a severe paradox: email is both indispensable and dangerously vulnerable. As digital communications fuel daily operations—from sales to financial transactions—organizations can’t just cut back on email to curb security risks. Financial fraud, the most common email-based attack, continues to skyrocket, leaving companies of all sizes scrambling … Read more
Chief Information Security Officers (CISOs) face growing personal liability risks amid increasing cybersecurity threats and stricter regulations. Recent Securities and Exchange Commission (SEC) actions have targeted CISOs individually. For the first time, the SEC charged a CISO with fraud and internal control failures related to cybersecurity. New SEC disclosure rules now require timely reporting of … Read more
Helvetia Switzerland has announced a new partnership with Coinnect to enhance its cyber risk underwriting and client security services. Starting at the end of 2024, Helvetia will adopt Coinnect’s advanced Cyber Insurtech platform, which uses artificial intelligence and cyber intelligence to evaluate and mitigate risks for clients. The collaboration aims to deliver more comprehensive risk … Read more
The company now offers “tailored parametric insurance solutions” to protect companies when their IT systems go down, creating business or digital system interruptions. The business interruption insurance follows the July CrowdStrike outages, which created billions in estimated losses from downtime and other consequences of the software snafu. “Enterprise solutions are customized to address the unique … Read more