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Top News about Cyber Insurance
The predictions come in the tech giant’s report “Cybersecurity Forecast 2024: Insights for Future Planning.” The report is a fascinating read for anyone involved in the cyber security arena — we were struck by the section on “Pig Butchering* scams,” among others — but more to point are the comments on cyber liability insurance. “Cyber … Read more
The specialist insurer has announced the closing of PoleStar Re Ltd, the Series 2024-1 Class A notes “designed to cover remote probability catastrophic and systemic events. Structured on an indemnity trigger and per-occurrence basis, the bond runs for a two-year term through to the end of 2025.” Capital from ILS (insurance-linked securities) will be increasingly … Read more
Fear is fueling fortunes in the encryption industry. As data breaches and cyber threats explode, the global network encryption market is bracing for a windfall. It is expected to reach a colossal USD 8.56 billion by 2032 (**see note below). This 7.8% annual growth surge signals a desperate scramble for digital shields, leaving no corner … Read more
The Travelers Companies has officially sealed the deal on acquiring Corvus Insurance Holdings, Inc., a cyber liability insurance managing general underwriter known for its cutting-edge proprietary technology. Alan Schnitzer, Chairman and CEO of Travelers, expressed satisfaction with the partnership forged with Corvus over the past year. The completion of the acquisition marks the official integration … Read more
The HHS 405(d) Program (see below) is an industry group supported by the U.S. Department of Health and Human Services (HHS) that is attempting to improve cyber security in the health industry. See examples of its resources and projects here. (We’ve reported numerous stories on cyber insurance for healthcare organizations and hospitals.) The HHS program … Read more