The Source for Cyber Insurance News, Insights and Data
[Yes, we didn’t know that’s North Dakota’s office nickname.] How to help state/local governments improve their cybersecurity when cyber employees are scarce, threats many and insurance expensive? An innovative approach is being run in North Dakota, where the state offers SOC and managed security services and users can obtain a 4% discount on cyber insurance. … Read more
[Paywall may apply] “The costly NotPetya cyberattack, which the U.S. blamed on Russia, should be considered a ‘cyber nuclear attack,’ insurers argued as they urged judges to overturn a legal win by Merck & Co. in a dispute that could have broad ramifications for business insurance…The insurers appealed after a lower court judge sided with … Read more
It seems fair to say that definitive numbers remain as elusive as a North Korean hacker. The Wall Street Journal‘s Pro Research did a survey late last year indicating 6% of enterprises had made claims in the previous twelve months. Delinea’s survey reported almost 80% had many a claim at some point, with many of … Read more
We’ve all heard the horror stories of companies hacked via penetrations of their vendors and partners. “’A company can take out insurance for third parties, but we don’t see a lot of those premiums tied directly to the number of third parties a company has under contract,’ (Jerry Caponera, general manager of risk quantification at … Read more
“’Regardless of whether ILS (Insurance-Linked Securities) markets are not fully appreciating the differences between NatCat and cyber, a demonstration that the original risk is being assessed with appropriate granularity is essential for confidence in capital application and price for required returns. Otherwise, there is still too large an element of guess work, which would actually … Read more