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Top News about Cyber Insurance
It might seem obvious that not all companies face the same cybersecurity risks, so their insurance needs should reflect these differences. This evolving landscape requires tailored security measures, and Gallagher Re’s latest study shows that by focusing on key risk factors, insurers can help companies strengthen their defenses and reduce overall insurance costs by lowering … Read more
The famous line goes, ‘To err is human; to forgive, divine.’ However, a more fitting line from Alexander Pope’s poem might be, ‘All seems infected that th’ infected spy.’ In the world of cybersecurity, the infection is phishing, and no one is immune. Last week, we reported on an Arctic Wolf report revealing a striking … Read more
CAC Group has launched CyberPeril Pro, a new cyber insurance solution tailored for the energy and utility sectors, responding to the increasing risks of cyberattacks on critical infrastructure. Recent incidents, such as the 2021 ransomware attack on Colonial Pipeline that caused fuel shortages across the U.S. East Coast, the 2023 Suncor Energy breach that disrupted … Read more
WHAT THIS MEANS FOR THE FUTURE OF CYBER INSURANCE Nations and people often find themselves preparing for the last challenge rather than the next one. This is a pattern embedded in human behavior, as hindsight offers a sense of certainty. We look back at previous crises and construct plans, policies, and strategies that might have … Read more
Thought the risk of being sued for a cyber breach was already high? It’s getting worse, Carolyn Purwin Ryan, a partner in Mullen Coughlin LLC’s data privacy and cybersecurity practice, told viewers during a recent webinar. Ryan noted that cyber breaches requiring the notification of >10,000 individuals often triggered a class-action lawsuit. But weeks ago … Read more