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Top News about Cyber Insurance
New Cyber Insurance Product Offers Uncapped Coverage and Proactive Services CFC has launched a new cybersecurity insurance product dubbed Cyber Proactive Response (CPR). It’s designed for businesses with up to €250 million in revenue. In announcing the news, CFC stated that the product includes two industry firsts, removes six exclusions, and features 30 new coverage … Read more
Rising Family Office Cyber Threats Prompt Urgency Cybercriminals go where the money is, but too many family offices are leaving the vault door wide open. A new report by Deloitte reveals that nearly half of family offices worldwide have suffered cyberattacks in the last two years. Amazingly, 63% operate without cyber insurance. These private financial … Read more
Despite rising cyber threats and AI adoption, Singapore’s cyber insurance uptake among SMEs is on the decline. A recent QBE report found that just 36% of Singapore’s SMEs report having any cyber coverage, down from 38% last year. At the same time, cyber incidents rose, and awareness of cyber risks fell from 47% to 40%. … Read more
“We’ve come a long way in our journey from the first ever cyber cat bonds, which were private, we’ve now got three 144A cat (catastrophe) bonds out there covering the cyber risks,” said Richard Gray, Head of Third-Party Capital at Beazley in this report from Artemis, a provider of information on insurance catastrophe bonds and … Read more
If you think critical infrastructure, what springs to mind? Probably transportation, energy, or healthcare—systems that, when disrupted, can cripple our daily lives as well as the broader economy. We rightfully worry about this. We defend against cyberattacks such as ransomware shutting down hospitals, DDoS attacks disrupting financial institutions, data breaches compromising sensitive information, attacks disabling … Read more