The Source for Cyber Insurance News, Insights and Data
From the Cowbell release: “Participation in this initiative demonstrates that Cowbell has deep expertise in serving SME customers with cyber insurance coverage tailored to their unique needs. As an AWS Cyber Insurance Partner, Cowbell’s solution has been vetted by AWS for its ability to streamline the quoting process using thorough cyber risk assessments that leverage … Read more
An example from broker Conner Strong & Buckelew: “A key thing to convince the insurance companies to get onboard was having a large retention… We decided to implement a large deductible to start with, large enough to deal with many of the claims that we see from membership, and also to give the members an … Read more
“While an insurance company may pay a ransom to get file decryption keys, ‘they won’t pay an extortion fee,’ Wisniewski said. ‘The conventional wisdom of insurers has been, ‘I’m buying encryption keys that are going to let me get this customer online faster, and that reduces my cost of the incident.’ They think they’re getting … Read more
“Lastly, it is worth addressing that aside from larger companies and a few smaller businesses that recognize the importance of having cyber liability insurance, most operations are still declining this critical coverage. Today, an estimated 10% of cannabis companies are purchasing cyber insurance. While the cyber market in general has become more competitive, only a … Read more
The report includes a description of the nightmare Laboratory Corporation of America endured after one of its vendors was hacked. You’ve likely heard some of these tips on how to start mitigating such risk, but the compilation here is useful. Source: Insure Against Data Breaches Suffered By Vendors and Service Providers