The Source for Cyber Insurance News, Insights and Data
Coalition, a pioneer in active insurance designed to preempt digital threats, unveiled its Active Cyber Insurance products in Australia. These products go beyond mere risk transfer, serving as an innovative solution tailored for the digital age. They collaborate with organizations to analyze cyber risk profiles, bolster their defenses, and avert future attacks. The need for … Read more
In a bid to address the mounting concerns surrounding personal cyber safety, Westland Insurance, a leading Canadian independent insurance broker, has partnered with global insurtech firm BOXX Insurance. Together, they aim to introduce a comprehensive cyber insurance product to meet the growing need for digital protection. Recent data indicates that Canadian households face a higher … Read more
The Securities and Exchange Commission (SEC) has sued SolarWinds Corporation, the software company, and its chief information security officer, Timothy G. Brown, for fraud and internal control failures in relation to the company’s major hack in 2020, reportedly conducted by Russian intelligence. “The complaint seeks permanent injunctive relief, disgorgement with prejudgment interest, civil penalties, and an … Read more
Travelers Companies, Inc. (NYSE: TRV) plans to acquire Corvus Insurance Holdings, Inc. for roughly $435 million. Corvus, a cyber insurance managing general underwriter known for its proprietary technology, will provide Travelers with advanced cyber capabilities. They include underwriting algorithms, vulnerability scanning, and enhanced digital connectivity. Alan Schnitzer, Chairman and Chief Executive Officer of Travelers, emphasized … Read more
Cowbell has reported impressive growth in 2023, marking a 49% increase in its new customer base year-over-year. A significant financial milestone accompanies this momentum. The company secured $25 million in equity financing, reinforcing its leadership position in the ever-expanding cyber insurance sector. As cyber threats increasingly concern small- and medium-sized enterprises (SMEs), Cowbell focuses on … Read more