The Source for Cyber Insurance News, Insights and Data
The hack has led to the loss of internet in classrooms. “After three days without Internet service, Penncrest School District teachers and students are ‘getting creative,’ according to Superintendent Tim Glasspool. ‘A great teacher can teach with a piece of chalk,’ he said Wednesday afternoon, speaking on a cellphone set up to receive calls to … Read more
New survey results from Sophos, a provider of cybersecurity as a service, provide interesting data that delineates stand-alone cyber policies from cyber elements in broader policies. “The study also revealed that ransomware victims with standalone cyber insurance policies are almost four times more likely to pay the ransom to recover encrypted data than those without … Read more
The report focuses on how cyber insurance applicants can avoid future claims nightmares by answering underwriting questions accurately. It also suggests applicants carefully consider the interaction of cybersecurity coverage with related exposures such as the protection of personal information. But a more fundamental issue exists, suggest one cyber insurance claims officer. “James Berry, London-based chief … Read more
Reported the company: “Over the last two years, the Resilience model has proven that by building a holistic approach to managing this risk, organisational security is increased dramatically. 100% of Resilience cyber risk solution clients impacted by ransomware were able to avoid paying an extortion in 2022. In the same time period, clients overall were … Read more
New Zealand’s Latitude Financial suffered a ransomware attack, reportedly via an IT vendor. Estimates are that one fifth (!?) of New Zealand’s population had personal data exposed by the attack. “However, the company has confirmed that it has substantial insurance coverage that will help offset some of the direct costs.” It’ll be interesting to see … Read more