Cyber Supply Chain Risks Gain Prominence: Report

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A recent report published by the International Underwriting Association (IUA) and CyberCube has shed light on the increasing significance of supply chain risks within cyber insurance. It underscores the need for underwriters to scrutinize their clients’ business continuity plans. All while providing a comprehensive checklist for assessing an organization’s cyber supply chain. In a digital … Read more

Sophos And Cowbell Partner On Cyber Insurance in the UK

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Sophos, a leader in cybersecurity services, has unveiled a new development for businesses in the United Kingdom. Building on their partnership launched in the United States earlier this year, Sophos is teaming up with Cowbell, a provider of cyber insurance tailored for small and medium-sized enterprises (SMEs). The partnership aims to introduce adaptive cyber insurance, … Read more

Lloyd’s Reveals $3.5 Trillion Global Cost Of Cyber Attack

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In a startling revelation, Lloyd’s, the world’s premier insurance and reinsurance marketplace, has unveiled a systemic risk scenario that paints a grim picture of the global economy’s susceptibility to a major cyber attack. This hypothetical envisions a cyber strike on a major financial services payments system, leading to widespread disruption in global operations. The potential … Read more

KYND and Nirvana Partner to Provide Cyber Risk Management Insights

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KYND Limited, a provider of next-generation cyber risk management technology and services, has announced a strategic partnership with Nirvana, a UK-based specialty Managing General Agent (MGA). This collaboration will empower Nirvana’s underwriting team with advanced and actionable insights into organizational cyber exposure, enabling them to make efficient, data-driven risk selection decisions and ultimately optimize portfolio … Read more

Ransomware is Back, Cyber Insurers Report

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Insurers say ransom-related claims rose sharply in the first half of 2023, the Wall Street Journal reports in this article (paywall may apply). “Along with the rise in claims related to ransomware, the total amount paid to attackers has also increased, said Vishaal Hariprasad, Resilience’s chief executive. Citing figures from Chainalysis, which specializes in blockchain … Read more

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