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Top News about Cyber Insurance
To bolster cybersecurity defenses specifically tailored for small healthcare organizations, the Department of Health and Human Services (HHS) has issued a one-page handout delineating the significance of cyber insurance and several implementation tips. Let’s take a look at it. Cyber insurance is a critical safeguard against the increasing onslaught of cyber threats. This protection offers … Read more
The useful new 2024 US Cyber Outlook Report from Risk Placement Services (RPS) notes that carriers reduced premiums, increased limits and softened requirements for some cyber controls when ransomware losses declined last year. But this “buyer’s market” is unlikely to continue, predicts Steve Robinson, national cyber practice leader at RPS and his team. “The cycle between hard … Read more
As usual, a few items from the week. Gutherie County, Iowa, sorts its cyber insurance; Gen Z or Boomers, who is better at cybersecurity?; And a court ruling in Southwest Airlines’ massive 2016 computer failure. Sunday’s newsletter is a wide, deep bucket of cyber insurance, cybersecurity, and more. Some we reported on, and others we … Read more
Envelop Risk, the data-driven cyber (re)insurance and analytics specialist, has launched Envelop SPA 1925. It is a dedicated cyber reinsurance Special Purpose Arrangement (SPA) at Lloyd’s, collaborating with Apollo through its Strategic Partner Syndicates business and Apollo Syndicate 1971. Chris Baddeley, an active underwriter based in London, heads the SPA, which began operations on January … Read more
CoverForce has expanded its API toolkit to include cyber insurance. This development responds to the soaring global growth of the cyber insurance subsector. It is predicted to increase by 25-30% annually. With an estimated market value of $23 billion by 2025, according to S&P Global. The CoverForce API already encompasses an extensive range of commercial … Read more