The Source for Cyber Insurance News, Insights and Data
Top News about Cyber Insurance
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
“Most companies will quickly accept the insurance provider’s first offer when negotiating cybersecurity insurance policies. Although a relatively new component of the insurance sector, providers have still been conducting cyber assessments and offers for years and are the so-called expert. However, this way of thinking costs enterprises thousands, if not millions, of dollars a year … Read more
The White House has now released its National Cybersecurity Strategy Implementation Plan to outline next steps for the strategy it first released in March. Read the update here. The update promises the feds will release by the end of the year findings on the need for and potential structure for federal involvement in cyberinsurance for … Read more
“The costs of recovering from a 2021 ransomware attack were too much for St. Margaret’s Health in Spring Valley, Illinois, which is closing today.” The article has useful analysis of the general vulnerabilities of hospitals, including disruptions of insurance billing systems. Experts believe ransomware and similar attacks could negatively impact the health or even lives … Read more
The market confusion largely began when Lloyd’s of London asked carriers to exclude most state-backed cyber attacks. “A policyholder can now face as many as five or six different kinds of war exclusions in a single standard policy, said Colin Daly, executive vice president of broker CAC Specialty.” While this Bloomberg article reports some carriers … Read more