The Source for Cyber Insurance News, Insights and Data
Top News about Cyber Insurance
A new study by the Law Society of England and Wales found that 72% of law firms do not have cyber insurance. This is concerning, as cybercrime is a growing threat to businesses of all sizes. Cyber insurance can help law firms cover the costs of a cyberattack. Such costs include investigating the attack, restoring … Read more
Here are some of the new reports from law firms about the SEC Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure rules (see a useful observation from Woodruff Sawyer after the list): Among the useful observations are these from Woodruff Sawyer (there are more at this link): “The SEC asserts that the rule is not … Read more
There’s positive news for the health of the cyber insurance industry in a new report from The Council of Insurance Agents & Brokers (CIAB). “Cyber insurance premiums rose by an average of just 3.6% in Q2 2023, perhaps the strongest sign of relief for this line seen yet,” says the CIAB’s Q2 2023 P/C Survey. … Read more
“The industry is dealing with two issues with regard to the talent shortage. Of course, it’s attracting new talent, bringing people into the industry in the first place. But then, the issue becomes keeping them. Because of the shortage in the industry, competition among insurers is fierce. To help build our team, we developed our … Read more
The SEC cybersecurity disclosure rules (see the text here) requires public companies to disclose hacks within four days, which we earlier predicted would lead to confusion, scrambling and lawsuits. “’The plaintiff bar is drooling. They’re like, ‘when does this go into effect?’ said Kelly Geary of EPIC Insurance Brokers & Consultants… As a result, public … Read more