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The lesson Moline had already heeded was to have cyber insurance. Tokio Marine paid out $404,764 for losses the city suffered in a phishing scheme that directed wire transfers to…
Read More “Did This Illinois Town Learn Its Lesson After Cyber Scam That Cost Over $400,000? ” »
“The affordability of cyber insurance was flagged as a concern by US-based News Corp when it reported a cyber attack earlier this month. The group said: ‘The company cannot be…
“Specifically, the proposal would: ● Require advisers and funds to adopt and implement written policies and procedures that are reasonably designed to address cybersecurity risks; ● Require advisers to report…
Company rebounded in 2021 after 2020 loss due in part to claims for COVID-related event cancellations. “Beazley…had a combined ratio – a key measure of an insurer’s profitability – of…
Read More “Cyber Insurance Helps Beazley Get Back to Profitability? ” »
“FI CyberCrime Plus, which is focused on banks with balance sheet assets of $10 billion to $100 billion, anticipates limits of $25 million to $35 million, according to the broker.”…
Read More “New Aon Product for Banks Combines Cyber, Crime & Professional Liability ” »
“(A) ransomware/breach prevention or recovery warranty can at least help companies ‘reduce their premiums,’ or even become eligible for coverage…” Source: Ransomware warranties offer user community another form of cyber…
Read More “Ransomware “Warranty” Offered by Rubrik; Will It Help With Cyber Insurance? ” »
“(T)he new year will continue to reveal the consequences of the 2021 acceleration of business digitization, with an explosion of incidents related to the software supply chain. This will drive…
Read More “2022 Prediction: More Cyber Pain from the “Software Supply Chain” ” »
Reported elsewhere: “The captive, domiciled in Hawaii, will provide capacity in addition to its current long-term capacity agreements from carriers including Swiss Re and Arch Insurance.” The insuretech company continues…
“The rise of high-profile ransomware incidents in the public finance sector beginning in 2018 led entities to turn to cyber insurance as a means of risk transfer. With ransom demands…
Read More “Public Finance Entities Face Challenges in Obtaining Affordable Cyber Insurance ” »
“Generali , Accenture and Vodafone have created a package of cyber security services to help the insurer’s corporate clients to detect, react and recover from cyber threats and incidents.” Source:…