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Top News about Cyber Insurance
The world’s largest public P&C insurance company, ticker “CB,” will enable $its 100m+ revenue clients to share cyber risk information via SentinelOne’s protection and response software. This is another example of insurers teaming with pure-play cybersecurity providers to increase the security of policy holders and improve underwriting and response. “‘The incorporation of SentinelOne’s endpoint protection … Read more
Insurers say ransom-related claims rose sharply in the first half of 2023, the Wall Street Journal reports in this article (paywall may apply). “Along with the rise in claims related to ransomware, the total amount paid to attackers has also increased, said Vishaal Hariprasad, Resilience’s chief executive. Citing figures from Chainalysis, which specializes in blockchain … Read more
Progress Software Corporation (PRGS) is the provider of MOVEit Transfer software, a program responsible for what is widely considered the largest hack so far in 2023, impacting at least 2,000 enterprises and 60 million individuals, according to media reports. The Company has now issued a 10Q report (10/10/23) providing details on the attack and recoveries … Read more
USQRisk, the international managing general agent (MGA) specializing in alternative risk transfer solutions, has unveiled Pera. A managing general agent focused on providing cyber and blended cyber and technology E&O insurance to large U.S. domiciled corporate risks. Pera, a division of Desq, USQRisk’s managing general agent accelerator/incubator, marks the program’s inaugural entry into the market. … Read more
“(M)ore than half (54%) of respondents found the current state of the cyber insurance market to be unsustainable,” reports the useful survey from KYND Limited, a provider of cyber risk management services. The top concern: Systemic risk. The finding tracks with our reporting on industry concerns about systemic risk, from cyber war exclusions to efforts … Read more