The Source for Cyber Insurance News, Insights and Data
The specialist insurer has announced the closing of PoleStar Re Ltd, the Series 2024-1 Class A notes “designed to cover remote probability catastrophic and systemic events. Structured on an indemnity trigger and per-occurrence basis, the bond runs for a two-year term through to the end of 2025.” Capital from ILS (insurance-linked securities) will be increasingly … Read more
Fear is fueling fortunes in the encryption industry. As data breaches and cyber threats explode, the global network encryption market is bracing for a windfall. It is expected to reach a colossal USD 8.56 billion by 2032 (**see note below). This 7.8% annual growth surge signals a desperate scramble for digital shields, leaving no corner … Read more
The Travelers Companies has officially sealed the deal on acquiring Corvus Insurance Holdings, Inc., a cyber liability insurance managing general underwriter known for its cutting-edge proprietary technology. Alan Schnitzer, Chairman and CEO of Travelers, expressed satisfaction with the partnership forged with Corvus over the past year. The completion of the acquisition marks the official integration … Read more
In 2023, the United States faced a relentless onslaught of financially driven ransomware attacks. These assaults impacted 2,207 hospitals, schools, governments, and private sector companies, as detailed by Emsisoft in their report “State of Ransomware.” The ransomware epidemic, as dire as ever, not only disrupted critical services. It also claimed lives, with an estimated 42 to … Read more
The HHS 405(d) Program (see below) is an industry group supported by the U.S. Department of Health and Human Services (HHS) that is attempting to improve cyber security in the health industry. See examples of its resources and projects here. (We’ve reported numerous stories on cyber insurance for healthcare organizations and hospitals.) The HHS program … Read more