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Top News about Cyber Insurance
Stellar Cyber has launched its RiskShield Cyber Insurance Program, tailored for Managed Security Service Providers (MSSPs) and their clients. The program, created in partnership with Converge Insurance, integrates cyber insurance with Stellar Cyber’s Open XDR platform to help streamline risk assessments and enable MSSPs to offer customized insurance coverage. The program’s key feature, the Stellar … Read more
The “largest regulated water and wastewater utility company” in the United States, American Water, is recovering from a cyber attack that forced it to pause billing services for its 14 million customers. While the company says it’s retained 3rd-party cyber experts to help with the response, a spokesman declined to respond to Cyber Insurance News‘ … Read more
In the rapidly evolving cyber threat landscape, the year 2024 has seen a dramatic increase in ransomware attack severity, according to Coalition’s newly released 2024 Cyber Claims Report: Mid-year Update. The report reveals that while the overall frequency of ransomware attacks decreased, the financial impact of each successful attack soared by 68%, with the average … Read more
Cowbell, an SME cyber insurance provider, celebrated its first anniversary in the UK by reporting impressive triple-digit growth across key metrics. A company press release noted that since expanding into the region in 2023, Cowbell has seen a 351% increase in premiums, a 327% rise in policies issued, and a 148% growth in its network … Read more
In the first half of 2024, the global landscape of cyber insurance has seen a marked rise in both the frequency and severity of cyber claims, driven by increasing data breaches and privacy violations. According to Allianz Commercial’s 2024 Cybersecurity Resilience report, large cyber claims — defined as those exceeding €1 million — rose 14% … Read more