Cyber Insurance

Top News about Cyber Insurance

How Can the Cyber Insurance Market Increase Capacity? It’s Spelled I-L-S, Says Verisk

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ILS= Insurance Linked Securities, which are financial instruments supporting retrocession, or reinsurance for reinsurers. Verisk surveyed ILS funds on their appetite for cyber insurance. “Thirteen ILS funds, representing nearly $60 billion in AuM, reported they are interested in providing cyber reinsurance protection. Most of them have never done so before. Eight of those funds — … Read more

Ukraine Companies Offered Free Cyber Services by Coalition, Which Now Enters the Fray Publicly

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Coalition is no doubt already on the radar of Moscow-linked hackers and this move seems sure to attract more attention. Given the modern networked nature of war, and the way attackers typically view those defending their targets, a gesture like this can create real risk for a company trying to do the right thing (and … Read more

Can Microsoft Exchange Server Be A “Pre-Existing Condition” For Cyber Insurers?  

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Article includes a cyber insurance application highlighting legacy software… “Insurers determine whether an SME is worth the risk by assessing where there are sufficient security controls and patching strategies in place. They’ve recently keyed in on several high-profile software vulnerabilities related to Microsoft Exchange Server, for example. Exchange’s presence, and the absence of critical security … Read more

Shareholder Lawsuit on Way for Sinclair Broadcast Group After Ransomware Attack? Significant Losses Expected from Hack Even After Cyber Insurance Reimbursements

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Law firm Pomerantz LLP says it’s “investigating claims on behalf of investors of Sinclair Broadcast Group, Inc…The investigation concerns whether Sinclair and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.” Sinclair asserts it “paid no ransom, and was able to restore its network from backups, but there was … Read more

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