The Source for Cyber Insurance News, Insights and Data
Marine insurance provider The Swedish Club will begin offering members maritime cyber insurance in 2024. The offering marks another addition to sector-specific cyber underwriting. “When port states and coast guards around the world start asking about cyber risk mitigation and resilience – and they already are – our member shipowners can show them a Cyber … Read more
CFC, a London based provider of insurance for professional services businesses, has announced a major upgrade to its cyber cover. The new extension will provide SMEs with access to CFC’s award-winning proactive cyber attack prevention services and incident response capabilities, as well as broad cybercrime coverage. “Extending the current cyber add-on with new cybercrime cover … Read more
‘Tis the season for gift-giving joy, but beware—the Grinches of cyberspace are plotting holiday scams and theft! Fear not, savvy readers, as Chicago-based cybersecurity firm Keeper Security unwraps the cybersecurity measures to outsmart those digital scrooges, ensuring your festive season stays merry and hack-free! As businesses gear up for the annual surge in consumer activity, … Read more
In recent comments, Graham Steele, Assistant Secretary for Financial Institutions at the US Treasury Department, admitted that “waiting (to launch a federal backstop of the cyber insurance industry) until after a catastrophic cyber incident occurs is sub-optimal for everyone,” but provided no clear guidance on where the government stands or when it will act (it’s … Read more
According to a study by Evolve Business Intelligence, the global Cyber Insurance Market, valued at USD 18.2 billion in 2023, is poised to experience a robust 23.5% Compound Annual Growth Rate (CAGR) from 2023 to 2033. The market is dominated by North America, while the Asia Pacific region is poised to achieve the highest CAGR … Read more