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Hiscox Ltd (LSE:HSX) lists increasing cyber insurance rates as part of its turn to profitability in the first half of 2021, according to its 2021 interim and Chairman’s statement. “Rate…
Read More “Ramping Cyber Insurance Premiums Help Hiscox Hit Profitability in H1 2021 ” »
Makes more sense when you learn the company says it’s passed $160 million in ARR and 800% YOY premium growth. Source: Cyber insurance startup At-Bay raises $185 mln at $1.35…
Read More “$1.35 Billion Valuation for AT-Bay as It Raises $185 million ” »
Chubb Ltd. CEO Evan Greenberg worries: “The pricing environment is pretty good…(But) that is not addressing by itself, the fundamental issue…. Like pandemic, cyber has a catastrophe profile to it.”…
The solution comes from TechAssure, a non-profit consortium of insurance and risk mitigation companies, which has teamed with RiskAnalytics and ICE Cybersecurity to provide the program. “The missing piece in…
Cyber insurance companies may urge clients to pay ransoms because insurance losses from not paying may be more than the ransom demand. “(E)ven when companies do want to hold out,…
Read More “The Squeeze Between Ransomware and Business Interruption Insurance” »
The companies are: AIG, AXIS, Beazley, Chubb, The Hartford, Liberty Mutual Insurance and Travelers. The mission of newco CyberAcuView is: “to (1) help the insurance industry provide better value and…
The insurance industry has failed to keep up with the cyber risk environment, says the Royal United Services Institute for Defence and Security Studies in a June 2021 report. It…
Yet another dimension of the cyber threat is the impact of public and commercial enterprise cybersecurity on credit ratings. “At S&P Global Ratings, we have seen more credit-relevant cyber events…
Read More “Cybersecurity Increasingly Important for Credit Ratings: S&P ” »
We’ve all heard a flight attendant tell passengers to don the emergency air mask first before they try to help others. The same concept holds for cyber insurance companies, some…
Read More “Cyber Insurers Need to Protect Themselves First” »
There’s grim news in a new survey from cloud vendor Cloudian and Sapio Research: Cyber insurance only pays about 60% of costs from ransomware attacks — and paying ransoms often…
Read More “Cyber Insurance Pays Back Only App. 60% of Ransomware Costs & Then Rates Go Up” »