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Top News about Cyber Insurance
Third-Party Risk Accounted for Nearly a Quarter of Material Claims According to new data from cyber risk firm Resilience, third-party risk became a leading cause of cyber insurance claims in 2024. The report found that vendor-related incidents accounted for 31% of all claims and nearly 23% of incurred losses. In 2023, third-party risk had no … Read more
Almost all, a staggering, 96% of ransomware incidents now involve data breaches with data theft. This marks a significant shift in cybercriminals’ strategies. This is according to Arctic Wolf’s 2025 Threat Report. The cybersecurity report’s findings highlight how threat actors are adapting to stronger cybersecurity defenses by prioritizing cyber extortion and leveraging vulnerabilities for infiltration. … Read more
New York’s legislature has announced two new amendments and a clarification to the State’s cyber law involving data breaches, highlighting important changes in cyber regulations, reports the indispensable JD Supra. Businesses now have a 30-day deadline to notify residents impacted by covered breaches and, if the hack involves financial matters, the New York Department of … Read more
Cyber threats are rising. Regulations are tightening. Insurance is shifting. The 2025 J.S. Held Global Risk Report warns that cyber risk is now a top business threat. The report also examines AI rules, supply chain turmoil, cryptocurrency shifts, and sustainability pressures. Here’s a closer look at cyber risk trends in 2025, as highlighted in the … Read more
CyberCube and Feathery are teaming up to add AI automation to cyber insurance workflows. The companies hope this integration will help brokers and insurers process data faster and assess risks more accurately. Automating Cyber Insurance Data Intake Feathery’s automation extracts cyber underwriting data from submission PDFs, ACORD forms, and loss runs. CyberCube’s CyberConnect API suite … Read more