The Source for Cyber Insurance News, Insights and Data
“This paper makes the compelling case for cyber ILS, having addressed the common objections. The massive opportunities which arise from the continued demand for cyber (re)insurance will only be further enhanced by the successful execution of cyber ILS transactions. This will increase (re)insurance capacity, as well as isolate cyber catastrophe risk into a tradeable format. … Read more
The program comes from CloudCover, provider of AI-driven network security detection tech, with Hylant Global Captive Solutions. “Stephen Cardot, CEO of CloudCover, commented: ‘Unlike conventional cyber insurance offerings, the CloudCover CyberCell captive insurance program operates as a creative answer for any large enterprise or association who is searching for an alternative approach to cyber insurance … Read more
Of those hit by ransomware attacks: “26% took the hardline approach of not paying any of the ransom demand. Another 11% chose not to pay themselves but allowed an insurance provider or outside entity to pay some portion of the ransom. In 41% of the cases, the victims chose to pay the ransom in full, … Read more
CFC offers cyber-insurance policy encryption to prevent crooks from learning how much your carrier would pay in an attack. “James Burns, Head of Cyber at CFC, said, ‘Our goal is to ensure that should a customer’s policy documents fall into the wrong hands, it can’t be used as leverage in an extortion attempt. While it’s … Read more
The Company is now offering its active cyber insurance to companies with up to $5 billion revenue. “The company’s increased capacity above its existing limit of $1 billion comes from a syndicated placement across many of its existing partners. ‘By opening up our capacity to enterprise businesses with $5 billion in revenue, we are widening … Read more