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Top News about Cyber Insurance
Cowbell, a cyber insurance provider for small and medium-sized enterprises (SMEs), has appointed James Porter as the Lead Underwriter for its UK middle market segment. Porter will be responsible for underwriting and managing cyber insurance policies for SMEs and mid-sized businesses. News of note: Given our coverage of this Association of British Insurers (ABI) report … Read more
The world of cybersecurity—and the cyber insurance industry that supports it—often feels like a walled garden, accessible only to those fluent in a language of acronyms and technical jargon. Terms like DDoS, MFA, and EDR require yet another layer of decoding, leaving employees and everyday users to navigate complex security concepts with little guidance. This … Read more
Falcon Risk Services, an MGA majority-owned by HDI Global Specialty, has introduced FalconFlight, a Cyber, Technology Errors & Omissions (E&O), and Miscellaneous Professional Liability (MPL) insurance product. FalconFlight Cyber Liability provides up to $10 million in A+ rated capacity and is available to companies with annual revenues between $10 million and $3 billion. The product … Read more
Senators Shelley Moore Capito (R-W.Va.) and John Hickenlooper (D-Colo.) reintroduced the bipartisan Insure Cybersecurity Act to safeguard small businesses against rising cyber threats. According to Accenture’s Cybercrime study, nearly 43% of cyber-attacks target small businesses, yet only 14% feel adequately prepared despite spending between $826 and $653,587 per incident. As many know, 95% of breaches … Read more
The UK government has introduced proposals to increase ransomware incident reporting and reduce payments to cyber criminals. The measures are rooted in the principle that ransom payments fuel the crime by making it more lucrative. Much like negotiating with terrorists, paying ransoms risks emboldening criminals and increasing the likelihood of future attacks while failing to … Read more