The Source for Cyber Insurance News, Insights and Data
“Increasing complexity within the cyber insurance market is raising questions over its viability as a business investment. Here are 7 reasons why an organization may be advised to avoid or delay investing in insurance,” reports the publication. One of the reasons: Major cyber events are rare. “While these indirect costs (such as fines and payments … Read more
“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