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Top News about Cyber Insurance
Vanta and Vouch have launched an embedded cyber insurance solution, enabling Vanta customers to purchase and manage cyber insurance coverage directly within the Vanta platform. This new feature aims to streamline securing insurance against cyber incidents, such as data breaches and ransomware attacks while helping companies meet SOC 2 compliance requirements. SOC 2, or Service … Read more
The Company‘s new business unit, Envelop Risk Solutions, will provide technical assistance to reinsurance providers “across the full capital management spectrum, including: cyber underwriting and underwriting strategy, cyber modelling, scenario modelling, capital metrics, cyber market analytics, new product development, threat intelligence, reinsurance operations automation, and global cyber risk forecasting.” “We have developed advanced capabilities to … Read more
We’ve discussed other findings from the recent Bermuda Monetary Authority (BMA) report, but we’re also struck by the increase in cyber insurance captives and cyber ILS vehicles documented by the financial regulator. The growth of Cyber Insurance Captives and Cyber ILS (Insurance-Linked Securities) is all related to the growth of reinsurance in the cyber market; … Read more
Here it is—Your Cyber Insurance Sunday—Upload. The latest cybersecurity insurance news. A few items from the week. Some from us, some from others: Delinea on the importance of Identity; Coalition grows; Bermuda Monetary Authority with a must-read report; Hartford Steam Boiler’s personal cyber insurance; A concerning report on Britian’s National Crime Agency (NCA); And a … Read more
The cyber insurance market is undergoing significant changes, driven by the increasing scale and sophistication of cyberattacks worldwide. The Bermuda Monetary Authority’s (BMA) 2023 Bermuda Cyber Underwriting Report highlights how emerging technologies, such as generative AI, heighten cyber risks by enabling more sophisticated and targeted attacks. This shift has fueled a surge in demand for … Read more